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The recent RNS confirmed the assets were not sufficient to cover the debt of $130M :-( , .......however we were all led to believe from AM that COPL had a billion barrel discovery and a further total of 2P Reserves of 32M Barrels that would attract a RBL. So lets assume that the total debts are $130M from the loans signed by AM/TR ( total liabilities to pay back over the term ) Is the BOD now saying that loan deals were signed on assets that would not cover of the overall debt.
If they are saying that then this CONFIRMS that we were all lied too as we invested into COPL for a billion barrel oil discovery + $400M+ of oil reserves.
Found something that could expose the control mechanism of the beast,,,
Noticed that many of the properties involved have a remarkable thing in common,,,I will try to explain
.for instance ,,,.11a Regent Street, Westminster, London, Sw1y 4lr has a number of companies,,,some are anavio,,,Anavio Capital Partners Services (Uk) Limited,,,,,,,,,,Anavio Capital Partners Llp,,,
But I also noticed that there are 200 active companies in this property,,found this odd,,,why not 463 ,,,,also noticed 12 sectors only related to this address,,,,a
Management and Business Consultants in LondonIT Consultants in LondonComputer Software (Development) in LondonEmployment and Recruitment Companies and Consultants in LondonArtists in LondonAdvertising Agency Services in LondonSound Recording Studios in LondonManufacturers Agents in LondonPublic Relations Consultants in LondonSecurity Activities in LondonMarketing Consultants in LondonCleaning Contracting Commercial in London,,,also odd,,,when clicked on any of the above ,,,the same ,,,200 active businesses in each ...this is for all of anavio life time,,,,,,you now can see there complete control mechanism,,,easily plottable,,so what have we really ,,
1.they are using 12 sectors with 200 companies in each sector active at anyone time attached to a number of dwellings containing officers,,
A bubble you could say,,,,
2you know every transaction and the vehcal carring something
3.track all decisions made by officers
4.follow real time flow using 192 free,,I did sign up
5we are attached to exactly 2399 companies in 12 sector's
6.you know all officers involved and decisions made/the transfer of money
7.easily plottable,,good idea on x
8.nice to know you have everything anavio has ever registered corporately
9.wo8ld only take 2399 like minded to take one of these companies and then centralise it,,,,,wiling to put 500 in a pot to out source it,,,why work.
You can now counter question every descion made ,,,alot of work for them..
We can out source those questions.
Some where in this bubble mistakes have been made corporately
Only 2399 companies,,,that's doable in my eyes,,,,,,Engineer's moto is adapt and over come,,,,all imfo in the public domain
Please cut and paste,,,,,and really think about what I wrote,,,,could be a chance of huge pressure,,,against them,,,knowing everything about them,,,
All the above is for the bubble of anivio,,
For the grown ups….
I wonder whether our TR stood down on the London listing as a precaution for failing a Fit and Proper test as a director. Which begs the question do the Canadian authorities have a similar yard stick? If so has it been applied?
There is no way a well run business would or should employ such characters, in my previous life he wouldn’t get past the CV skim, let alone a position.
I suppose scum breeds scum in this game and the scummier you are the better your position.
About time it changed.
Well it looks like it's going down to the wire -Tick Tock Tick Tock
The threat of a rock solid Class Action lawsuit may make Tommy see reason. I am so grateful to our SAG for this.
So it seems we are all in the hands of the Senior Lender. Hopefully they will show some compassion to genuine shareholders and find some way to right the wrongs of this debacle.
Exactly what I would like to see Alfresco. Then the SP rockets and the existing holders can recover and new buyers arrive to a stabilised company.
Although, part of me wants to see Anavio handed their azs and losing everything they hold to the administrator followed by every one of them involved being arrested as the legal challenges mount.
Richardson will end in jail regardless. Being inside the company when these highly suspect transactions have occurred plus his documented history elsewhere - there’s no future for him where he isn’t a play thing for the B wing collective.
So....maybe Summit force Anavio to accept the face value of their bonds, forget interest and warrants, and go away. Summit must already have hard evidence of the real value of the assets, they would not have lent otherwise, so lending more to clear the way to profitability would be good business sense, especially with the promise of 8% of the hugely successful business in the future. They could put in a new team to move it forward, reconnect with the JVP, and resolve the current situation. Then an early JV could mean early repayment and 8% soon. Or is that too simple?
So RodneyT how do you see this playing out?
Chapter 11 is very expensive and take years. That said, please refer to my previous remarks covering 'excess proceeds'. Folk like PK and his firm make fortunes out of C11 or similar. Others do far less well and the scope for all sorts of legal challenges here is clearly real. People with nothing to lose just keep fighting. We can see this in our group. It's not macho, it's just a cold matter of fact. It is all not quite as clear cut as it appears. Many subtleties dwell here.
Angus. It’s pretty binary now.
Either a deal is done and the RNS announcing Anavio have accepted a deal and gone with all their warrants and bonds cancelled.
Or Summit cannot strike the deal and put it into Chapter 11 and Anavio lose the lot (along with PIs).
My gut is that a deal will done but we know what Anavio are like and it will be like Russian roulette
What do you think is going to happen fin
Survive another day, holding on to most of its tiny gain'' who knows what will happen next?
armchair at the ready I suppose'' and fingers close to the button for the nervous, for tomorrows RNS watch.
You'll see from the attached RNS that Lekoil thought that it had raised much needed capital from the Qatar Investment Authority back in January 2020 to develop one of its fields. Mirabaud (Mr Krens is quoted in the RNS as representing Mirabaud as Lekoil broker) are quoted in the energyintel article attached saying the QIA funding agreement was a ' major coup'. The article goes on to explain that the 'funding' was a total scam. The Mirabaud team including Mr Krens left in December 2020 and formed Tennyson Securties at Shard Capital in January 2021.
'Seawave' which was behind the scam are covered in this article.
What sort of due diligence did Mirabaud and Mr Krens do on 'Seawave'? What was the reason he and his team left Mirabaud in December 2020? Did Mr Krens and Tennyson (appointed in Mar 2021 by COPL) advise COPL before it decided to appoint Anavio and its (scope to be so destructive to shareholders) convertible bonds in July 2022? Amongst other duties, Tennyson were appointed to provide 'the provision of financial advice on a case-by-case basis'. What advice was provided about Anavio and its bond terms? Moreover, in its role as COPL's joint broker, on what basis was Tennyson comfortable with the appointment of Mr Richardson when this ex-Mirabaud team must have known about the serious reservations Lekoil's Chairwoman had with Mr Richardson via his directorship of Lekoil Cayman?
When will we find out what is happening
One way or another, there will be tears of joy after we collectively get to the bottom of this scam!
Thank you very much....I did cry after your post,,,not ashamed to say it,,,
Owner of anavio,,,daneil Edward isaac horsley,(or a jumble of them) age 40-44,,,,founder ,,,,,I will rip his connections and properties rug from under his feet hopefully tonight,,,day off,,,gla
Summit don't 'own' COPLA. They have a lien on it which can be exercised under certain circumstances. Even as/when it is exercised, fair value has to be obtained for the assets covered by the lien then, after other costs and obligations are settled, the 'excess proceeds' are distributed amongst shareholders. This is my understanding of the situation.
'It doesn't make any sense'!
Clearly! You're well out of your depth!!
Wait, is this the same from COPL Nigeria dealings?
As a sophisticated financial investor why would they even want to buy or “steal” COPL for £2m or whatever it was, when they fully aware that Summit owns all of the operating subsidiary? Ie the listed entity is worthless cos it’s the subsidiary that Summit have the security over.
It doesn’t make any sense.
Come on somebody make a move..
Sources have informed that an approach to Mrs Oyebode has been made as part of on-going enquiries into Mr Richardson's past business activities. In addition to being Chairwoman of Lekoil Nigeria, Mrs Oyebode is a prominent businesswoman in Nigeria and wider Africa more generally. Her father was the ex Head of State of Nigeria and the attached comments made by Mrs Oyebode on 15 June 2021 and 1 Sept 2021 about Lekoil Cayman are clear and damning. Mr Richardson was appointed a director of Lekoil Cayman on 8 January 2021. It will be interesting to assess a first hand account from Mrs Oyebode in due course.
Same reason they seemed to want a lower vwap everytime they went to convert (although I guess it could be just fluke the price always dropped prior to a VWAP interest conversation) rather than a higher one. More Shares.