Member Info for Callasjunkie

GCM

Well spotted Afa. Seems Ocean Pearl are suing in both Nigeria and London.

As part of World Carrier Corporation, these are serious heavyweights.

You couldn't write the script.

Sorry, second site is

Etenders.ng. Google as I'm having problems pasting the reference

I found these two website references some weeks ago. Although kosher sites, I could not find any corroborating evidence, so didn't post till now.

What is extraordinary is one gives the legal case reference, the other the name of the presiding judge. The litigant is stated to be Ocean Pearl who are part of the group that sourced and modified the ELI Akaso and who had the management before it was re-awarded to Century group without explanation.

Extraordinary that none of the players have commented in public,

https://www.publicprocurement.ng/federal-high-court-port-harcourt-notice-of-auction-sale-of-vessel-fso-eli-akaso-at-the-federal-high-court-port-harcourt/

https://www.publicprocurement.ng/federal-high-court-port-harcourt-notice-of-auction-sale-of-vessel-fso-eli-akaso-at-the-federal-high-court-port-harcourt/

Happy holidays!

So Alaric, you should have shorted at 32p when you were advising people to buy.

I see your unerring judgment on investment repeated in your support of Pantheon Resources (PANR) only down 27% so far today but down over 90% on the year...but you can commiserate with the poodle, also a supporter. Maybe you should post the stocks you favour and the rest of us can run a mile.

Red,

You must learn that when you're in a hole stop digging.

I haven't a clue how you short a share if you're a retail investor. Possible via Options but don't think they apply to SLE.

Now here's a little exercise for you to do.

Go to the top of your screen.

Find the icon "SLE short positions"

Press it.

It will tell you that there are no open short positions in SLE.

So please stop acting like a child.

Red,

Yes, I haven't a notion what will happen post suspension.....and neither do you.

However you've posted twice that you think Fanning is a genius.

I would agree. Anyone who can take over $18.5m in salary and bonuses on the back of unremitting failure is definitely a genius.

By the way, how is your investment in GCM going? From a high of 757p down to a current 2p that's some stock picking.

Red,

To answer your question, I haven't a notion what will happen post suspension, but I think there's a definite possibility that SLE could be removed from AIM altogether, in which event your question is superfluous.

There's a lot of information that should have been disclosed via RNS that has been omitted.

First, if so many of the dominoes depend of the $50m financing, why has SLE not drawn down the MM Capital loan approved on 8 August 2022?

What is the problem with Eroton, MLPL and ELI's accounts?. Remember that there are SLE representatives on the boards of all those companies. Explanations are glaringly absent.

Regarding the arbitration, Eroton initiated arbitration proceedings against Sahara and GTB in 2020 under the terms of the JOA ...that's still not resolved!

Previous AIM suspension in 2017 due to late accounts filing lasted 3 months+, as MLPL/Eroton accounts weren't available.

Now we have a rerun, plus no accounts from ELI Infrastructure. Eroton now lost operatorship and reputedly involved in endless arbitration. ELI being sued for a wind up with next hearing in November. If this suspension goes beyond 6 months then it's take it private or formally reapply for readmission.

Good luck.

Case in Maltese Civil Court to wind up ELI Infrastructure deferred for the third time to 13 November. Case notification only shows prosecuting advocate, not the litigant. I seem to remember that Blackswan believes it's Brightwaters, the pipeline contractor. If that's correct it looks like a considerable delay to the ACOES at the very least.

Alaric,

Talking about new lows....

CD, interesting observation. So by your own logic those who bought Providence at over 600c aren't actually making a loss until the liquidation's over. They'll be so relieved. Lol

Still don't know if he followed his own investment advice. Guess not. Because he doesn't believe is own propaganda.

Something we have learnt this year from Alaric, that his investment advice is a tad off the mark.

On 10th Feb, the guru was advising on ADVFN when the share price was 32p " Price is now at support level. You are unlikely to get a better price than this if you want to buy in"

Those taking his advice would now be nursing a 60% loss.

When I asked if he taken his own advice, deafening silence.

Black swan, up to the New Year 5 cargoes had been delivered to the Sea Pearl. I don't know what's happened thereafter.

My source is direct from Eroton. I'll not disclose it yet. I am waiting for Narcissus, the font of all knowledge, to go find it. 😂

Your article on theft is alarming. Shell and the IOCs must be laughing for flogging their assets to Aiteo, Eroton and others for Megabucks.

Thanks Afemufuma.

I'm used to the gutter behaviour on this board. Water off a ducks back. Idiots dont seem to comprehend that insults are counterproductive.

Back to the situation in hand.

Mt Sea Pearl might suggest that its in the ownership of Ocean Pearl, which happens to be in the WCC group (that modified the Ali Akaso into an FSO and are shareholders in Eli Malta. Two WCC executives on Eli's Board. Now Eli contracted Ocean to manage the FSO but we are recently informed that CEG have been awarded that role. I have seen a news item that Ocean are suing Eli but without independent corroboration, I'm not going to post the link.

Reporting was from Eroton itself.

Gutter language from a gutter snipe

"Mother ship" is actually MT Sea Pearl. It has a DWT capacity of 35kts so can take 250,000 bbls of oil. Its currently sitting at anchor, lonely, in the Bonny estuary. No info on how many barrels are onboard but no comfort (when getting approvals/licences) that its feeder ship, MT Rahama seems to have run aground on its inaugural trip (but seems to be operating ok now). Eroton CEO on record as stating that its hugely disappointing that the barge operations to date haven't been turned into cash. Seems like there's a news blackout on the pipeline....what with the court case coming up on the 26th inst.

Frus, I may know what's happened.

When you enter"SLE" in the LSE search dialog box, it gives you two choices. Both are valid SLE . One is Aquis and the other is AIM. I think you clicked on the Aquis link??