Member Info for Gord_1

Their all interconnected ....the £2M in the investment funds was not taken despite Tom saying it was. It remained there until 2023. The bonds money of 2M was repaid into another one of Toms companies which stayed there for a couple of years. The money for debts/etc was taken from additional placings. In total Tom has diverted £4M of company funds. I'm not sure who too as Lunn and Tom go way back and the people also connected with these companies are known to them both. The PPP accounts do not line up with the accounts from these shell companies, and saying that they have invested or had expenses of X on the PPP accounts and doing more placings , but in face the money is hidden...is criminal. Its quite a set up they have, with multiple shell companies involved.

There are quite a few really serious issues which surround Tom. One thing I do know from the paper trail is that Lunn and Tom had a relationship prior to PPP, thus I'm not sure if this has gone sour or not. I'm planning to do a deeper dive into this because there are a lot of good folks on here that have apparently been screwed over and it has to stop. The LSE/AIM/FCA need to take control of situations like this and call-out examples. TBH the reason they are currently not, is I feel its wide spread and they would probably loose half the companies on the LSE/AIM. Lets force their hand however to get your money back.

There are are a number of areas that need more investigation to ensure that we have a strong case to present to the relevant authorities. Its quite a complex situation thus it needs to be broken down into various parts to then build the bigger picture of what has gone on. In my mind the behaviour of the individuals, especially Tom does not look good. When I have some time I will explore a little deeper to try and give you a better picture that may help with decisions going forward. Clearly Lunn has given us some assurances that he is working for the benefit of the shareholders, but if it does go *its up then we can chase them for losses.

One big red flag is the £2M Bond Loan and short term investment fund the company had.

For example:

Tom managed ~ £2M of company funds in a short term investment fund. This was in one of his companies.(Company A)

Around the same time PPP borrowed £2M from one of TOM's other companies in exchange for bonds.( Company B)

The PPP Investment funds were drawn down and declared as admin expenses etc. ( Drawn from Company A)

PPP however still owed TOM's "bond" company £2M ( Owed to Company B)

The £2m debt was then exchanged for shares that went to "another" of Tom's companies. ( Company C took on the debt from Company B in exchange for shares)

Toms company C is then left with a bucket of shares to sell.

Questions such as why did Tom not raise funds instead through a placing initially? Well he did in parallel .

It then questions if £2M was ever provided to PPP., but from an accounting prospective it was and secured against assets from Noble Petroleum LLC ( which didn't have the assets to cover it as these were transferred to Noble USA Inc.)

Shortly after the share price tanked because I feel these shares were sold in the open market. No TR1's declared. So another question is , where these shares then sold by Tom and he benefited from this dodgy transaction.

This is just one example of potential fraud activity that needs looking into.

Before I forget ..in 2022.....Gem Yield Bahamas ltd took them to court in Dec for some reason. However in the accounts it states that they issued ~1m shares to cover a £266K debt for fees up to June 1st ? wtf was this for ? and what was the final settlement in Dec. It was never mentioned in any RNS about this. Money has been taken in placings and loans but not flowing where it should be. This really should be reported to the FCA. The more you dig deeper into this the more corrupt it gets.

Yes ...and this one was wound up due to debts. IMO he has given false statements to the investors of PPP, to raise funds to keep his other business dealings going. This all should be investigated.

https://find-and-update.company-information.service.gov.uk/company/10328847/filing-history

Https://find-and-update.company-information.service.gov.uk/company/10328847/filing-history

Tom is not so clean as he makes out. This is the company that provided PPP with a £2M bond loan which the investors had to pay in 2021 via a placing. I also suspect money has been diverted to this too.

Note also that the assets ( leases etc) were transferred to "Noble Petroleum USA Inc" a few years ago.

Lunns loan is secured against the assets of Noble Petroleum LLC only.

This is why I think the deal has been done by Tom and DL.........under Lunn's nose. So effectively Globalvision got a right good deal and Lunn is probably trying to unwind it as PPP has currently very little assets left except the future royalty payments if they find enough oil .

Can sell all ...but cant buy on AJ Bell ?

Globalvision could buy out PPP and the debt owed, keep the listing and raise for other ventures.? I don't see Lunn taking this company forward and think he just wants his money returned, which is a fair point as he has been patient.

Https://www.shalexp.com/nobel-petroleum-usa-inc

https://www.shalexp.com/texas/gonzales-county/whistling-straits/363860

Interesting production figures. I'm not surprised Globalvision want these assets. It appears the deal been done as they promote the asset on their website.

Dirty games going on here by DL to funnel of these assets imo. He's a complete con artist. Whatever happens here, I feel a class action is required because I think they have conned the market for their own greed.

Based upon the history of this company , I'm 100% convinced they are lying to you. The sale of the hasting's shares....as well as all the placings etc...where has it all gone? There are 4 full time people taking a decent salary and have delivered nothing. Constant dilution , consolidation etc at your expense. If you want to discover the truth then the people who are depending upon the Amapa project also need answers.

KDNC claim "key ministers" are frustrated that the licences have not been released which obviously is damaging the local economy. So maybe a quick message to the local news paper to say that "The main investor and key ministers who are developing the Amapa project are frustrated that licences are being delayed and its been a battle for over 4 years to get these in place , which is stopping the development and investment into the mine and local economy".......

Maybe then you will get to the truth, which is as soon as these licences are in place, investment is expected to be forthcoming as part of the deal to release the stockpile.

Tullow have given a couple of positive signals to the market without being pointed out for market abuse. If Roald bought or sold shares before an official announcement......how would that look ? The bond price dropped as the market thought they couldn't pay the coupon , but in reality its covered and he is taking advantage of that without crossing the line of possible market abuse. Together with the contract news, its a smart move to demonstrate were financially ok and fully open for business no matter what.

Just don't get your hopes up too high.. With a portfolio worth peanuts , 80% loss in SP over last 5 years ....and 99.69% loss over total time.....this is a not a great investment company. I still believe that they have conned the local authorities that a investment was forthcoming for Amapa so that they could get release of the stockpile. The JV partner was one of the creditors and between them they have achieved their goal and now walking away into the sunset with the proceeds. The RNS releases and accounts over the past few years don't add up if you analyse them. They say one thing and they do the opposite. A lot of lies and deceit by them. DYOR as I just don't want more people to get burnt and fooled by these crooks as many have.

If you think about it........With the tax decision to be announced, the last thing you would do is commit to additional spending right now in Ghana ( if it was negative outcome). This however seems a good indication that things are looking positive for Tullow in Ghana and the tax situation, thus more confident on investment at this stage.

I looked in on this share a couple of weeks ago....1BN MC ? its lost over 300M MC in less than 10 days ?? Really ?

Wood has expanded its Middle East workforce by 500 employees in less than a year, with a 25% headcount increase in UAE alone. To support continued growth, the company is also currently recruiting for another 130 roles across the region.

Wood has been working purposefully to improve skills and training locally, and in early 2025 will be opening a vocational training centre in Basra, Iraq, with joint venture partner, Al Majal. This will support continued development of early career talent in the region, while in the UAE, Iraq and Saudi Arabia, Wood has created structured, multidiscipline graduate engineering programmes to provide both on-the-job and classroom-based training for local people, with 87 new graduates having joined the company in 2024.

Sure ... just pointing out the obvious. .......1.4Mt of ore = 28 shipments @ $10M per shipment = $280M........ No licences / MC of 4M ......and that excludes the other ventures they have sold.

In 2019 it states:

Once the preconditions relating to the railway licenses and bank creditor arrangements have been met, the US$2.5 million investment placed in the judicial trust account will be released, and Cadence will own 20% of the Amapá iron ore project. Cadence's next stage of investment will be a further investment of US$3.5 million on the grant of all operational and environmental licenses for the Amapá Project, at which point Cadence will own 27%. Cadence also has first right of refusal to increase its stake to 49% in the Amapá Project."

None of these conditions were met as the only reason they "invested" our money was to get 33% of the sale of the stockpile returns and line their own pockets. Where has all that money gone £££M...they are simply con artists and liars,

With the MC at less than 4M......have a look at this announcement from 2019

https://www.lse.co.uk/rns/KDNC/approval-of-judicial-restructuring-plan-amapa-i427sb3g1b3sys4.html

· It is estimated that these stockpiles have a net realisable value of approximately US$ 60 million, which will be reinvested in the restart of the Amapá Project.

Con artists !

This is why KDNC took a stake in Amapa ..imo .

From the first shipment announcement in 2021 it states

"Approximately 1.39Mt of iron ore currently stockpiled as DEV's wholly-owned port "

And with an average price of $140 per tonne over the years , you work out the math.

The rest of the project is a smokescreen , licences , development blah blah....always excuses after 4 years . If the local government thought they were serious they would have bitten their hands off to get things done, but the BOD keep brining up another reason why they cant do this or get that. They are running out of excuses and after years of buying and selling companies after getting their millions from them, the SP is peanuts.

Now having made their millions from Amapa, and being caught out earlier this year doing it illegally ( trucks seized etc) they are moving on to the next project to scam investors with. The FTSE is a joke as it will never investigate these scams and they know that.

DYOR & GLA

Dallas reborn :-)