Member Info for DanBrown83

It still comes to the fact that ADME bought into an Indirect Interest
remember that means we don't hold any actual ownership - this was clarified on 8th June by ADME

The investment in the Field was made by way of an acquisition of a 51 per cent. interest in K.O.N.H. UK Limited ("KONH"), which holds a 70 per cent. interest in a Risk Sharing Agreement ("RSA"). In the announcement, the Company advised that the RSA grants investors in the RSA an option to acquire a participating interest in the OML 141 licence, however, there are no option rights attached to the RSA and, accordingly, to the benefit of ADM.

We have never been purchasing any part of NHNL, just a contract -

This looks like more battle lines been drawn

we have seen the information the BOD choose not to disclose to shareholders
you are right - if nomad has returned - they need to disclose and i think they have 30 days to get a new one

Good spot to be fair

to be fair - his post history shows him been in MXO since January 2016 (nearly 6 years)
he more than most has every right to post his thoughts here

Robert Sutherland??
he writes for *************

Ignore all Research Notes as they are paid for by the company as a marketing tool and then given loads of shares as payment
It only mentions the part the company want you to see to make sure investors invest

NOMAD's arent there to question what the Company says
A Nomad has to make sure that the company understands what they are releasing is a factual statement
It would be pretty impossible for a nomad to go through the reems of contractual paperwork for a contract to make sure it is 100% factual
It is also the reason an RNS has the usual blurb when releasing the data

Kind of what we suspected in terms of this $1.75m legal dispute

This comes back to what i said last week, if it is a total con - its Calabar Capital (Daniel Maling etc) who have been paid from ADME's investment
It will come down a lot to the original agreement held by them 'calabar capital' and 'NHNL' in terms of the wording of the RSC Contract they had - but this is all based on the assumptions of an Indirect Interest and me believing that the parties are correct - which i think there is a distinct lack of clarity

Its about now we need a Q&A with OSA to explain himself, the contract, who he is working with and the legal dispute that is ongoing

The issue is that we have an indirect interest - that means we are not officially part of any contract with the owners of OML141
Our indirect interest is based on the fact we own a subsiduary of a company that has a contract to provide the services

Now Zenith RNS states they have entered into an option agreement that is for quite a substantial payment - we will have to just wait and see who owns what and what happens if there are any legal ramifications
For this Zenith RNS - the License must be in NHNL's name - we believe it was revoked by the Nigerian Government in 2019 but we can't formally see it ever been re-instated - has anyone seen anything in regards to this?

ultimately its the BOD's non-disclosure of material facts that is driving the SP down

I presume this is Barracuda it relates too??
It makes sense as the claim is they have no ownership of contract yet BOD are claiming this to be true, legal expenses can run into millions and often some form of guarantee of costs needs to be given prior to commencement of legal work

under 1p now

I don't
TBH - I can't stand the guy
but saying that - he has a nasty habit of finding these things out and them been correct - something from him i would usually consider to be correct - i remember with FRR - he was posting simlar on legal disputes and all ended up been the truth - despite no evidence in the public domain

pineapple and cheese sticks - its hotdog and cheese up north lol
It will get passed,
In reality , the shares will be needed to pay for general expenses until revenue can be realised (from any source) and also to allow for the company to invest in further world class con's (assets)

we know the warrants will get approved

That Document does not look real - although after the update from ADME - it has to be taken as factual
TBH - ADME / KONH could probably sue NHNL as the statement would certainly be considered a libellous statement

both Calabar Capital & KONH UK were set up at the same time to facilitate the purchase
therefore my understanding is that the Owners / Directors in Calabar Capital Limited had the rights (or believed the rights) under the Risk sharing Contract
Calabar Capital is owned by Daniel Maling / Tor Langoy / Peraayya Karra
While Dan Maling has worked and works for various companies in this sector, i would doubt he would knowingly be part of a fraud

NNPC wouldn't
CALABAR CAPITAL were the ones that received the shares for the purchase and are under a lock in
I believe it was them who received the cash payments
If it was a fraudualent contract - they are the ones who benefitted

is it possible they have conned ADME and are now trying to con Zenith in a similar way, offering a risk Service contract?