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Started: RobNic, 25 May 2023 06:03
Last post: ghostwriter3, 6 Jun 2023 14:47
This is where a fair chunk of our money went... nice place to drink wine and pretend to be running a business.
https://www.fundainbusiness.nl/kantoor/den-haag/object-42959703-nieuwe-uitleg-24/
Cochran's probably spotted a few £ he missed extracting for himself.
Anyone seen this below
HALO OFFSHORE UK LIMITED
You have been sent this email because you are following HALO OFFSHORE UK LIMITED (SC342665)
The following information is available from the company's filing history.
Date Form Description
3 Jun 2023 DISS16(SOAS) Compulsory strike-off action has been suspended
It bothers me immensely that he can just walk away from this without any repurcussions or significant effect on his life, after many of us had entrusted our hard earned capital with him and lost everything due to his inept decision making.
The whole affair thoroughly stinks and the UK authorities should be equally ashamed of their inability to exercise reasonable action against this individual.
A scam operation from start to finish, enabling Cochran to fund a lifestyle at the expense of his gullible investors.
I am waiting for Cochran to resurface, whenever that may be.
Anyone worked out if there are any authorities out there to express concerns / displeasure with either HALO management (especially Cochrane who continuously lied and failed to communicate with investors), the NOMAD (who seemed to walk away for unclear reasons to allow HALO to act autonomously), AIM itself (for clearly not keeping an eye on HALO and letting them drag out their bankruptcy to allow Cochrane to continue to fund his lifestyle), the Administrators (who seemed to have progressed no consequences to Cochrane whatsoever, or recovered any funds to shareholders), or anyone else who one would think should be held responsible for the debacle seemingly engineered by Cochrane to steal shareholder's money? Appears there is little consequences to being either crooked or incompetent in AIM - seems HALO is a poster child (or at least alcoholic delinquent) for the risks of investing on AIM.
Started: Iseo395, 2 Apr 2023 23:57
Last post: ghostwriter3, 14 Apr 2023 15:31
Dead duck indeed. Cochran has walked with our hard earned money after years of funding his multi million dollar lifestyle including a top end house in the exclusive area in The Hague and funding his daughters through the private The American School of The Hague.
Now he's ****ed off back to the US and hiding from the authorities with the shield of his mates in the Administrators he selected to wind it all up with zero backlash.
Administrators appointed 24/12/2021. I have heard nothing since - held these shares for many years through different name changes.
Is this one completely dead now then - shareholders money completely disappeared?
I was expecting to receive something in writing from the Administrators....I guess this will not be the case...?
Started: MTSparky, 22 Aug 2022 10:31
Last post: Olderandwiser, 9 Jan 2023 22:25
Knowing Ghost personally, and I'll say no more than that, I will say that you, wellsite, are just a slimeball piece of s h i t e for your utterly wide of the mark accusation about Ghost. He tried his best to get transparency and accountability from AC, for all here.
He did lose a small fortune, and I lost a somewhat lesser fortune than he did, on HNL. Yes, I have seen the factual evidence. And no, he isn't the reincarnation of that other slimeball, slippery character that led to all this grief in the first place.
I wish anyone on here the very best of luck in learning lessons about avoiding shysters like AC in the future. They still abound on AIM, given the nature of that exchange and its dismal regulation.
My parting shot will be reporting FRP and OC to their regulators. FRP should not have appointed OC and OC were too conflicted to accept the appointment. You cannot act for a company and its directors in its business and transactions, and then properly discharge statutory duties to investigate eg those same transactions as potential sales at undervalue etc. There was a lot to investigate and I and I know a number of other shareholders raised serious legitimate detailed concerns.
Too much of a conflict in these circumstances, it's close to a conspiracy with Cochran to defraud shareholders.
I doubt reporting will do any good mind but it's important to do it. Bad luck to them all now.
Flundra, I agree - the Administrators seemed to do the bare minimum. Reflects badly on AIM, makes them look like a banana republic stock market - no protection against crooks - actually appears like the market is in cahoots with shady investors - not a good look.
Wellsite, I signed up to Ghost's list. I think he tried hard on behalf of the average shareholder, unlike people like Anto who continued to bleat that Cochran was a genius, attack anyone who said otherwise and preach that all would be fantastic in the future - right up to the end.
For Ghost to be an incarnation of Cochran, Cochran would indeed have to be a genius to create and maintain such a persona. Cochran could though pretend to be Anto, as Anto was such a caricature, with seemingly exaggerated terrible grammar, continuous anger & insults, and whacky positions - all doable by Cochran. I'd say 60% chance Cochran was Anto, 0.1% he was Ghost!
I was shocked by FRP and Osborne Clarke's appointment and conduct. How on earth could the administrators appoint Cochran and Halo's own lawyers ffs who had presided over this sh.i.tshow? What hope was there ever of genuine scrutiny of Cochran's conduct and all his dodgy deals? Gross conflict of interest, misconduct and a proper stitch up of shareholders.
Did I really have to rejoin just to put you all straight? Me, anto? Really?! Just goes to show how pointless all my efforts were to extract some sense out of this sorry mess for everyone.
You can't even distinguish between a genuine person that lost a small fortune in this fraud and a character that was either just simply deluded or a front for the duplicitous "interim CEO" himself.
As for Cochran, I'm watching and waiting for him to resurface in whatever scummy form he inevitably does, so I can enlighten the next group of gullible twats as to his previous existence.
No rush. I'm patient.
Started: easyinvester, 30 Aug 2022 19:41
Last post: easyinvester, 30 Aug 2022 19:41
I get we’ve been screwed over but what I can’t get my head around is even the poorest business person could have done better why when selling off assets did not insert a clause for uplift in gas prices with set time period? I’ve seen this in other instances so we’d not have had full benefit but something. This is why I think just plain fraud because I don’t think anyone is that stupid…..you sell an asset. You then state if said assets increase in value then uplift in sale price or percent of in this case pruducing assets profits been done before. Or is it me being stupid please tell me in which ever way YEAH JUST DUMB whatever
Started: wellsite, 29 Jul 2022 22:48
Last post: ghostwriter2, 4 Aug 2022 15:53
Particularly like the charge for strategy & planning - 36.6 hrs @ £599.06 p/hr = £21,326.50
Wonder what unique Strategy they came up with for HALO ?
Not that it matters to much to us but I love the hourly rates that the administration Company is charging, on average about £450 p/h.
For the 1st 6 months they have racked up £206k in costs.
At that rate they should consume just about all we have in the bank by end of year .
Started: wellsite, 12 May 2022 13:35
Last post: antofelli, 26 Jul 2022 19:41
Strike off action being suspended is usually brought about by someone who is owed money from the company not wanting them to disappear until they have paid there debts to them. I have done this myself to company that owed me money via a solicitor. It didn't get me my cash but it just enough to fk them off because they can't just disappear. It is likely HM Rev & Customs doing this to recover unpaid tax bills before AC returns to the sewer he came from.
So Is that a no or yes Antofelli - are you a believer in Mr C or not ?
The way the world is going we might not have another 5 years.
antofelli, your obviously in a very defensive mode today - I was just trying to establish if you believe that the current events that you see happening with shooner (I take it under the leadership of MR C) are going to ultimately benefit (financially) HNL PIs ?
Can I ask one thing - do you actually believe that Mr C is currently acting in the best interests of HNL PIs and is going to going to complete some amazing business deal that will benefit the PIs over the coming months ? i.e. bring the Company back to trading or give us some sort of windfall payment.
Hi Antofelli, great to see you at top of the board again.
It is extremely rare to see a PI so positive about a CEO's business/commercial abilities/activities that has just put a Company into administration in the way in which he did and then disappeared off into the night or should I say America.
I can only surmise that you must either know more than we do about the current situation or are delusional about it.
Can I ask one thing - do you actually believe that Mr C is currently acting in the best interests of HNL PIs and is going to going to complete some amazing business deal that will benefit the PIs over the coming months ? i.e. bring the Company back to trading or give us some sort of windfall payment.
Cheers
First time I have visited the board in a while - very unusual not to see antofelli at the top of the board with the last comments. Maybe on holiday. So are we waiting for the 22nd to see why the Compulsory strike-off action has been suspended ?
Started: MTSparky, 12 Jul 2022 12:29
Last post: MTSparky, 12 Jul 2022 12:29
..Is this an action being processed by a creditor ? HMRC maybe?
Started: easyinvester, 18 May 2022 10:39
Last post: glenmorangie, 18 May 2022 14:41
and please don't say ' We will just have to trust that Cochran had this planned for the PIs all along'
Not funny if that's what your hanging on to.
Easy, Well
Absolutely agree with you guys, I believe this has all been orchestrated by Cochran and not for the good of the PI's
Not once did he come to us or the market to try and raise money to stave off liquidation and keep our producing assets. he didn't even have the decency to inform us of the pending Administration.
He did deals behind closed doors and when he got what he wanted (we will probably never know what that was on a personal front) he abandoned ship.
What makes anyone think that we (PIs) have any sort of ownership or control over what happens to Schooner or any potential CCS licence award ??
Please enlighten me.
well said easy
(btw in Texas they have guns, so might want a plan B)
The lot of them SORRY guys for the swearing BUT we waited years and then on the cusp of a windfall due hike in oil & gas prices snatched away by f-ing thieves UNLIKE like many of you HNL was a total punt very small amount invested £1000 around 9000 shares in total so not lost a great deal unlike some on here who have £0000’s but that’s not point we’ve still been wholly ripped off good and proper and given that they have teeth of a basking shark regulator bodies have we’ll see no justice here or anyone held to account I dread to think if HNL HELD for six more months how much more wealthy we’d be but maybe this was plan all along . If anyone ever finds out where Cochran. Lives and want to knock on his door and tell face to face and man to man what a **** he is ill join you never been to Texas, also catch a rodeo, Dallas cowboys math so wont be a totally wasted journey….does anyone on here actually think we have recourse or any value to us as share holders left here???????
Ghostwriter
Accept my condolences, if you have had heavy losses.
On the SNG board, we have also had a difficult time and I am certainly looking forward to better days.
It’s a shame when fellow investors mock and belittle when others have had a difficult time.
ATB
At this stage it's difficult to see how the administrators could NOT take action, given the dodgy conduct and transactions and the missing millions. It's early days in the administration, let's see how it pans out. They'll have a good idea already what Cochran's about, and won't want to leave overt poor conduct and worse unchallenged. It could come back and bite them, particularly if Cochran does reinvent himself and does the same again. FRP won't want a headline like this in a couple of years time: "Cochran jailed. FRP Advisory failed to spot fraud in previous venture".
Massey and Allen are both IPs regulated by the IPA (Insolvency Practitioners Association). That's another port of call for shareholders should they fail in their duties.
The good news is that the Investigations section still refers to the possibility of antecedent/voidable transactions, and investigations of directors' conduct.
Well done and thanks to all shareholders who've engaged with the administrators re HALO/Cochran's conduct in recent years, and provided them with information and voiced their concerns. The administrators should have a lot to ponder by now.
FRP would be well advised to investigate thoroughly. The evidence of wrongdoing is compelling. If FRP don't, then they're going to look pretty stupid at best, and probably professionally negligent, when Cochran reincarnates down the line and screws up his next venture too...
"I can only hope karma comes round and something very unpleasant is on its way to him. (AC) "
...Ditto !!
Dutch TTF now €247 per MWh, purchase or our gas assets must be deal of the century. We were producing about 4000MWh per day, so close to €1m PER DAY !!
Started: wellsite, 4 Mar 2022 10:34
Last post: wellsite, 4 Mar 2022 10:34
Yes this needs an investigative journalist on the case.
Agree that is a likely outcome. Amazed that the press aren't picking this up as a clear example as to how AIM is fundamentally flawed, as it shows a crook can deliberately getting his company de-listed so he is then free to run it into the ground, whilst sucking it dry, with no thought to shareholders. You would think this kind of debacle would cause some kind material negative change to the perceived risk of investing in AIM, and so the powers above would want to at least give the appearance of wanting to penalise fraudsters who damage the perception of AIM stocks, especially when they aren't even British...
PROPOSAL
We believe & propose that all PIs should get absolutely nothing and the individual(s) involved in destroying the Company and cheating the PIs out of their investment get all existing assets left in the Company to start again or sell to the highest
bidder.
This should not hinder the Company directors from being able to operate in the UK markets in the future and
pull off the same scam again with unsuspecting PIs.
There concludes the rip-off
Thank you
Last post: wellsite, 7 Jan 2022 11:19
Schooner and shortly apply for the licences Neptune didn’t take up in 32 round.
CCS - imho OGA would be reluctant to award a CCS licence to AC now
For what it's worth, only Valand and Small have their correspondence address at FRP, the other two still have Bath
https://find-and-update.company-information.service.gov.uk/company/03793723/officers
Started: jscriven, 6 Jan 2022 12:13
Last post: antofelli, 7 Jan 2022 07:18
jscriven,
Yes, would recommend you send in your concerns to the Administrators. I think the additional point raised/implied in posts by Glenmorangie/Olderandwiser is also likely correct, ie that Cochran has deliberately pushed HALO into Administration for his own gain. That point / suspicion is also worth pursuing with the Administrators.
The concern is that the game Cochran has played here is basically this -
- Cochran lent some money to HALO in 2016 (see 2017 Annual Report on pages 44 (section 9 - Group Restructuring) and 60 - Section 27; the latter mentions that in 2016 Cochran funded Vermeer GBP 46,257 for "working capital needs".) I am unclear whether that is the extend of him acting as a creditor. I believe he will try to add to the list of things he is a creditor for.
- Since de-listing (which he may have engineered deliberately) he has worked (with PR company Camarco in cahoots, facilitating the effort) to keep shareholders in the dark while he has kept drawing his salary (and Camarco's fees being paid) - worth over one million GBP to Cochran since delisting.
- Cochran has driven the company into the ground (not clear if that is incompetence or negligence, or both) and at some point he realised that the value of his 8.6% equity was worth less than recovering his loan (and his continued salary)
- Possibly with pressure from the other main investors (speculation), he agreed to put the company into Administration once he felt he had drawn out getting his salary for as long as possible, to at least get back his loan (with whatever terms that came with, ie interest?), likely leaving Shareholders with nothing once creditors are paid in full...
- So basically he has denied Shareholders the right to recover their investment in favour of him drawing down a salary - and recover his personal loan - without obviously informing or asking the Shareholders what they think about that.
You may also consider asking the Administrators direct questions, in the hope that they have a professional duty to respond, eg "Did Cochran himself instigate Administration proceedings, or was it the other Directors?" or "Is there evidence that the Viaro deal was authorised properly within the Company?" or whatever one thinks is a clear, specific question that it would be good to ask.
can we freeze the assets , just a thought .
Great.!!! I have been keeping up to date with the "chat" over the years and am disappointed that it now appears I have lost the money I invested. Not a fortune, but more £££ than I am happy to throw away. I have a copy of the template email posted on here around Christmas time, is is worth me sending this to the Administrators...? Any help / guidance would be useful.
Thanks,
Started: easyinvester, 4 Jan 2022 11:05
Last post: antofelli, 5 Jan 2022 07:58
Yip that's the response I got.
The bit I don't like is 'A confidential report is submitted to the Department of Business, Energy and Industrial Strategy in this regard'.
Does this mean that we do not get the chance to examine their findings ?
I got the same standard response.
Thank you for your e-mail regarding the Company.
Please be advised the Joint Administrators have a statutory duty to maximise the Company’s assets for the benefits of its creditors and investigate the management and affairs of the Company preceding the Joint Administrators’ appointment. A confidential report is submitted to the Department of Business, Energy and Industrial Strategy in this regard.
If you have any detailed information that may assisted the Administrators with their investigations please do send this across.
Sent my email to administrator for good it will do. Would be be advantageous for small pi like ourselves to have a either and teams or in person meeting hammer out feasibility of any possible legal proceedings given total lack of transparency from HALO
Started: tonygallardi, 10 Dec 2021 09:28
Last post: flundra, 10 Dec 2021 14:45
If HALO's insolvent the administrator/liquidator can and should investigate AC, and take proceedings against him if appropriate. Can't believe it's come to this :(
A movie should be made
AC is a coward and a liar...
He has been fraudulent with investors..
His name should be dragged through the media so he cannot do it again..
Antofelli ,we had money in the bank but he didn't bring us back when he should.
We could have all made our money back and more if he brought us back after 12/18 months
Nope, I hope he gets all he deserves, starting with a newspaper article in the FT/Energyvoice. Prefer to have all the facts before getting too excited
Wellshafted
The season to be of mirth is almost upon us!!
anto
lol
if you have access to money you can do anything - look at HBR.
At this point we don't have a pot to P in though.
I hope the AGM is in Aberdeen again
WS
RIPL, our man in charge, Mr Cochran, is such a gentleman when it comes to communications with fellow shareholders.
It would look good in the Neppers sale brochure
Perhaps he's putting a bid together for Neptune......
Started: easyinvester, 24 Nov 2021 13:21
Last post: easyinvester, 24 Nov 2021 13:21
Totally agree AC Has a lot of questions to answer and unless he’s got another plan to avoid us at a AGM then times running out until December perhaps he’s hoping covid will bail him out and no face to face AGM. I want to see accounts, I want to know where we stand with assets, I want to unstandardised reasons for any deals done, and most of all I want to know what AC got out of it does have shares or promises from other companies. IF HES SOLD UP/ given away gas fields just at point of Hugh increase in gas price then that’s at best poor business if not total negligence of duty to share holders I urge everyone possible to attend AGM if it goes ahead let meet up first plan of action
Started: wellsite, 9 Nov 2021 12:20
Last post: wellsite, 19 Nov 2021 13:42
that's COP26 a distant memory, no fanfare of CO2 licences......
When's the AGM ?
Dead parrot sketch comes to mind !
Looks like it's all about Track 1 and maximizing disposal through it !!!https://www.energyvoice.com/renewables-energy-transition/362820/uk-government-ccus-phase-2/After announcing the first two CCUS clusters to be chosen last month as part of its £1billion competition, the East Coast Cluster and HyNet, “Phase 2” of the Track 1 process has now been launched.Phase 2 seeks emitters not part of the initial cluster plan for the projects selected last month to come forward, and is open to power, industrial or hydrogen production projects which could feasibly connect to them.The announcement last month omitted the Scottish Cluster, led by the Acorn project which would use CCUS to capture emissions from the Grangemouth Ineos refinery as part of its cluster plan, instead chosen as a “reserve cluster”.
Last post: wellsite, 3 Nov 2021 13:49
It's the big boys - note the potential future expansion piece
https://www.equinor.com/en/where-we-are/united-kingdom/Northern-Endurance-Partnership-NEP.html
https://www.bp.com/en_gb/united-kingdom/home/news/press-releases/leading-energy-companies-form-partnership-to-accelerate-the-development-of-offshore-transport-and-storage-infrastructure-for-carbon-emissions-in-uk-north-sea.html
Someone will get Bunter36………..
Has someone at TCE made a mistake, or did OGA award only part of applied area to East Coast Partnership
The OGA licence for Endurance abuts our application (blue polygon), but the Crown estate licence for Endurance (green box) encroaches into our OGA licence area. I can't find the licence application for Endurance.
On contrast, the Acorn area the OGA and Crown Estate Scotland areas are coincident.
Although there is a Liverpool bay OGA licence area, nothing for crown estate area
https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=cb3474a78df24139b1651908ff8c8975
qui gatta ci cova
WS
It is all very intriguing seeing all these vague pieces being put together but unless HALO relists we are all just mugs. We need a clear update on the future plans for this company and includes a clear timetable for relisting on AIM et al . I can see why Ghost is so upset and frustrated. If AC had any intention of relisting HALO it would have been done by now. If all this speculation does pan out to be positive for HALO the frustration could go on for years to come.
Aside from abutting the Endurance licence, looks like the CCS licence area was specifically mapped to JUST include all major surface infrastructure in the area
TRENT WELLHEAD STEEL PLATFORM
KILMAR PLATFORM
CYGNUS PIPE CROSSING PIPE JUNCTION
BOULTON WELLHEAD GASLIFT PLATFORM
BOULTON HM TWO SLOT TEMPLATE
Not sure what it means
W$
(anto behave)
Started: easyinvester, 23 Oct 2021 17:52
Last post: easyinvester, 23 Oct 2021 17:52
We (investors) are not the villains here, we bought shares in good faith, and held in good faith, we even bought in to suspension. And believed in AC BUYING TULLOW ECT so no point falling out, and some point HNL WILL HAVE TO HOLD AGM. We can then take out frustration then that’s my intention
Started: MTSparky, 12 Oct 2021 17:14
Last post: MTSparky, 12 Oct 2021 17:14
"Hague and London Oil PLC (AIM: HNL), announces that the Company has received notification from its Nominated Adviser and Broker, Stifel Nicolaus Europe Limited, of its resignation with immediate effect."
I remember someone commenting after this RNS along the lines of, has anyone known a company relist subsequent to the Nominated Adviser resigning. Inferring that a relist was very doubtful. I would be amazed if this company re-lists. Never say never but it looks very unlikely.
Last post: antofelli, 8 Oct 2021 13:59
How many months does it take to put a set of accounts together ? It's not as if we were a billion $ company with sales in multiple markets and different divisions.
I work for a large multi -national and we are bang on the button every quarter with our accounts.
;-)
13595251.56 mwh x €104 = €1,413,906,104. Over what 8-10 years? TTF will likely come down though to normality in 6-12 months.
"price escalator clause in the S&P agreement" that's his yacht paid for at least then. I'm really pleased for him ....;o\
MT
how much is Schooner worth ? 8 MMBOE left, plus areas untapped.
I hope he had a price escalator clause in the S&P agreement
WS
1900boed is 3229 Mwh/d so x 117 x 365 = €137,894,445 in gas turn over alone. I must stop doing this but I can't help myself.