George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Stas20 ref BP and Denton,
I emailed Derek yesterday "I understand you are representing BP Energy Company in their case against the recent quick sale of Canadian Overseas Petroleum (COPL). I am part of a shareholders group also objecting; do we possibly have common ground, objectives worth discussing? We certainly have a wealth of information on what the company has been up to for the last year or more, would you be interested? Thanking you in advance for your prompt attention and any thoughts."
and he replied "We may need to speak further. I was retained rather late into this matter, so playing catch up (including following an order granted yesterday, which has significant implications). I will speak with my client (BP) and confirm what instruction I may have to discuss matters further with the shareholders. Thanks for reaching out. "
Looks like it depends on what BP wants with SH but might lead to something... I don't think we should inundate them with emails but you/CAG might like to send them a periodic update with some juicy piece of info?
So take a look at PK’s latest affidavit! Can’t believe they sent this only on 11th April, six days before LOI were needed. I note they haven’t actually included the teaser pdf to court info- I would like to see a copy of it. If you want contact details eg Spectrum, Latium and BP - they are all on the email that he’s attached. IMHO DYOR
Stas - i get your point but sharing ideas or acknowledgement of them being good one's will make no difference to the opposition. They will have top level legal reps planning appropriate responses to anything we through at them.
If we can find it, or think it, then the oppo can also. I'm not worried about that, i'm expecting a fight and dirty tricks from the fraudsters. Our collective job is to help out were we can and expose what they've done.
BP were talked into a swaps deal, there must be emails and documents of promises made, if our evidence can prove BP were lied to then we have a collective interest. There's no way BP are putting in the man hours the CAG and others have so they need us and we need them.
If the oppo find out, good. It might just make them think twice and settle with both parties rather than risk jailtime, which will come if we can prove what we know to be true.
actually just to reiterate after a re-read: the underhanded nature of copl needs to be emphasised. it’s essential we recognise that this entire situation has been engineered by copl.
sometimes, i worry that as this process drags on, we might lose sight of why we’re here, grappling with concerns and seemingly clutching at any lifeline available. we must never lose sight of the fact that we find ourselves in this predicament because of millholland and gaffney. our focus has a danger of shifting over time—from richardson to anavio, now to the court process and a stalking horse, then to this latest document.
for a long time, i've pointed out that the true architect of our woes is millholland. he boasted about a scheme to bankrupt cuda and seize their assets cheaply. he lied continuously and used us to provide the groundwork and funds for his newly engineered asset theft. this entire debacle bears the hallmark of millholland and his accomplices: gaffney, cowan, and richardson. this is his cookie cutter process.
while our primary goal is undoubtedly to recover our funds, my deeper, more consuming dream is to see these perpetrators brought to justice in court. we are in a battle and we risk playing to millholland as our focus shifts to extremities allowing our gaze to drop from the real crooks. as the sisp is pushed through, millholland might think he's scored a point, but his arrogance will ultimately be his downfall.
unlike with cuda, who didn’t have a cag (cuda action group) and gave millholland no pushback, he now faces opposition from the copl action group who isn’t going to roll over. millholland has left a damning trail of evidence so extensive that in my opinion, he stands on more than just very shaky ground. i believe the sisp will proceed, but the true victory will be bringing down millholland, gaffney, richardson, and anavio—who at each turn seem to only make our case against them stronger.
it is this case that with the help of michael cotter, and the unyielding effort of 450 shareholders and others that will bring us the compensation and justice we deserve. let’s maintain our focus. i certainly will, and i’m committed to ensuring millholland faces the consequences of his actions.
millholland, if you’re reading this, know that my resolve is, and i hope i am not understating it here when i say, unshakeable, tenacious, resolute, unrelenting, inexorable, implacable, steadfast, determined, indomitable, unwavering, vigilant, and above all, i promise to be an absolute pain in your ****.
BP moral code
Stand firm against bribery and
corruption
We do not tolerate bribery and corruption in any
form in our business.
•Comply with anti-bribery and corruption laws,
regulations and bp anti-bribery and corruption
requirements and support efforts to eliminate
bribery and corruption worldwide.
•Work to make sure that our business partners
share and comply with our requirements.
•Do not offer or accept bribes, kickbacks or
any other kind of improper payment, including
facilitation payments.
What I am trying to say is we need BP to support us because they have been made aware of the underhanded nature of COPL, I expect the best support would be given when they realise they are in the same place as us. As it stands I expect their gripe is with KSV and Summit. We need ideally them to see this is all a COPL engineered process. I agree the paragraph is poorly worded, in fact it reads better if you just remove the 'but only' from the second line.
Anyone = How do You get in touch with a member of this BB . Thanks
‘ I do believe there could be potential in garnering support from BP, but only if we can demonstrate a concerted and covert effort to defraud and strip shareholders of assets, which would ultimately impact BP adversely.’
Stas, not sure I get this statement, surely if they help uncover this mess it puts them in a better light, as it stands they’re getting nothing.
Bp challenging the sisp is the best bit of news we’ve had in months, we need a legitimate sisp with full access to what copl have. I don’t believe they don’t have the oil, they’re still churning out 1000 barrels per day with no injection. There’s no mention of this on the province documents. Why ?
Sorry I should clarify, I should state, when I say RBM, I'm actually referring to the CAG as a collective, I am aware that behind the scene there are numerous people involved.
In my view I will simply say I have zero trust in COPL (all directors), Summit, Anavio, and KSV. The huge number of initial documents produced by KSV, some running into greater than a thousand pages, just had to have raised suspicion.
It seems totally improbable and implausible that such extensive documentation could have be prepared in mere days or weeks, suggesting a premeditated plan spanning months, obviously involving KSV as well.
I do believe there could be potential in garnering support from BP, but only if we can demonstrate a concerted and covert effort to defraud and strip shareholders of assets, which would ultimately impact BP adversely. If we can expose the true nature of COPL's actions, which I believe we can, then there may be a possibility of them aligning with us. they are after all now also in the victims enclosure.
However, I want to clarify that I am not directly involved with the CAG. While I trust them to be aware of all emerging avenues, there's always a possibility of oversights, thus I think we should all be comfortable providing suggestions.
It is though for me and I would hope for others, enough to have just voiced the opinions and know that they have been considered.
We should avoid disclosing our intentions to the opposition. Even acknowledging a good idea could potentially arm them with information. Maintaining discretion is crucial, as public affirmations could be detrimental.
While forums offer a platform for sharing ideas, we should imo refrain from expecting explicit endorsements from RBM here. It's a delicate balance to play, but I believe caution is warranted, even if it means sacrificing some immediacy or involvement. I trust RBM to navigate this balancing act with prudence and seek advice as needed. However as I say these are just my feeling and my opinions others may differ and as such everyone's opinion is equally valid.
So can BP stop this farce and put3 in a counter bid for copl with in the next 10 days, they must have experence this process
And another thing, province supposedly emailed spectrum and bp on the 11th April, just 6 days until the end of the sisp, obviously plenty of time for them to do due diligence and letter of intent, Not !! . Ksv and province have been appointed for a specific job, get this through at all costs at the lowest possible price, their job should be to get the highest possible price.
Maybe a bit harsh leew sorry for that, but I just want my money back as soon as possible and all of it, these scammers can’t get away with it
Thanks for bringing it to our attention today YANKEE'' well it certainly got this BB buzzing again LOL!!
''so as a few people been saying from last year, that BP was the JV they did not want to tell us about ? and perhaps they had to come out of the woodwork because they also had a stake built up in COPL under the quiet, and no stand to lose it like us ? it would be a really good idea, that the CAG try to make contact with them, if they will talk to us ? because don't forget COPL have been given £500k by the lenders to pay there legal bills, and enough to write there self immunity from all liability or 3rd party claim, they got it so sewn up'' with the judge that the BOD is even allowed to get rid of all paperwork relating to the business of the past, so what chance do we have trying to scrape together £150k to fight them ? ''although nothing venture nothing gain, and is always worth a try'' but BP is worth billions, and would be worth having them on our side IMO, as a few others been saying , again'' if they will talk to us little people of course'' and as RMB say if they are not just pursuing there own interest, with this late stage objection ? but you never know'' perhaps a good start would be to send them the link to the CAG brilliant website with Zak & Steve video, FK knows'' but it may break the ice ?
best regards
Thanks for your view Ryan, I stand by my statement based on my moral outlook on life.
I would accept less money back to see justice prevail (if wrong doing has taken place) and don’t see any issue with that at all.
No one takes it with them and I don’t have huge amounts but money has never been, and will never be, my biggest goal.
However thanks for taking time out for your second post I feel honoured.
Can i ask before you go rbinvest.
When will we all get this letter?
Who is mr cotters insurer incase of failure and costs incurred.
Before I sign off for the night, can I clarify that I never said BP would be a poor ally, merely that we may have slightly different goals. It’s not black and white. We will continue to talk to all parties who could help us reach our goals.
‘I do want my my back but would accept a lot less back if I knew the whole truth and if there was wrong doing I would trade the money to see some action on individuals or organisations. ‘
As John McEnroe would say ‘ you cannot be serious’ what a ridiculous statement
RBM, you guys are involved and have more detail than me so currently trust any decision you / mr cotter feel is appropriate as when you have leas information (me) it impossible to suggest a direction.
My personal view is this BP involvement later is just another direction others after coming at it compared to the route of class action given the different requirements both parties have. However if a company like BP feel there is reason to object then it only helps support the class action process at some stage in some of “our” arguments.
I do want my my back but would accept a lot less back if I knew the whole truth and if there was wrong doing I would trade the money to see some action on individuals or organisations.
Keep up the great work and hopefully one day some of us in the fringes can help support more
Ryan 100% agree.
Get the process stopped, BP have flagged the SISP process does not stand up to scrutiny and fails in law too.
Get the asset sold by all means, but it needs to be fair value., not a continuation of the current scam.
None of the above stops a subsequent class action.
Apologies, I’ll refrain from saying anything on an open forum such as this in future, it’s impossible to do so without questions being asked or assumptions being made that we’d be foolish to answer publically. It is not black and white, and it is certainly not as simple a situation as some seem to have convinced themselves.
We are working relentlessly to navigate a very complex situation, we will continue to do so. Be careful where the narrative is led.
Finwittrader - I tend to agree. There's just an undertone of suspicion being subtly injected which is why i posted the SRA link earlier.
It would be good to get clarity on any Setford involvement and the insurance against a potential lost case as given the true size of the asset value i don't trust any of the participants over the pond to act fairly.
The Wyoming Governor Mark Gordon turned up to a flaring meeting to rubber stamp an application and Judge Sidnell worked a golf swing away from COPL headquarters at Rose LLP, both on 5th Ave SW Calgary. Also, the courthouse were the AVO was heard is on 6th Ave SW Calgary 3 mins walk from COPL HQ.
Could there be social connections between the COPL executives and the legal establishment in Calgary? I'd say it's more likely than not.
Where's TIA1 and they're relentless brilliant info churning gone? Could be useful about now.
RBM, not being funny but I have lost thousands in this. I don't agree with your view, If this can be stopped now and a legitimate SISP is put in place (and not by KSV) surely that is better than doing nothing and proceeding with a class action that could take years. We can still do a class action if the new SISP does not deliver to shareholders. COPL, KSV, Summit and maybe Anavio are in cohorts on this to allow summit to get the assets as cheap as possible.
BP have stated that the solicitation process was flawed, KSV didn't contact enquiries, they didn't give enough time for the process, the actual documentation they sent out was laughable, no mention of how much oil we have or its worth, its as if all the oil has disappeared. What's in the DATA room, have COPL been selective as too what's in there, who knows. All I know is this process needs to be stopped beforehand rather than letting it go through and then spending years trying to recover our money that may or may not be successful.
Kenneth Anderson stated in his closing statement on the affidavit
'The debtors own and operate SUBSTANTIAL oil and gas holdings which must be adequately exposed for a time and at a price floor that will stimulate the greatest possible interest '
'the process in this case was chilling and ineffective'
BP know what we have and I think they are being careful with what they say. Our NAV was close to £500 million without the fed deep discovery, add that on and who knows what its really worth.
Notice how the same posters who were trolling this board for months have started returning again? I’ve heard today that two of the key targets for the class action have already been feeling the strain of the announcements.
Then suddenly they’re all back like a pack of hounds, doing what they always did. Why don’t they want people to join the class action I wonder?
Michael Cotter won the large case versus Yorkshire bank and others. He has a strong media profile, strong history of working with the financial authorities and is an expert in Class actions. It’s no surprise that they’re on him like a pack as they’re sweating it.
I couldn’t care less that he’s now got a new firm - I followed my employment law expert when she set up her new firm as she was the best around.
Sharebel "feel very let down by him and even KSV..." insolvency experts = vultures who want a quick deal and maximum fees, nothing more. The word "restructuring" and similar blurb is just PC stuff to make people feel comfortable and go away, while they pillage whatever to pieces. KSV and similar are simply wolves dressed in sheep's clothing. Don't be surprised at what's happened once they were appointed.