Member Info for itisagame

Is this a show of ability to raise the money needed?
What happens to zen if zen fail to fully subscribe the 1m in each currency by Monday ?

Zen : “ The subscription period will commence on January 21, 2020. The intended issue date of the Notes is January 27, 2020.“

Rns next week confirming the loan either way.

Dec 27th RNS - "The SPA is conditional, amongst other things on .....certain regulatory requirements in the Republic of the Congo, including consent of the Minister of Hydrocarbons."

That’s why zen were chanting ‘ $2m licence bonus’, got to atleast try grease the palms.

ANGLO TUNISIAN OIL & GAS LIMITED
21 Jan 2020 Previous accounting period shortened from 31 March 2020 to 31 December 2019
17 Jan 2020 Registration of charge 118994840001, created on 8 January 2020

Trafigura Pte LTD? Singaporean funding?

https://beta.companieshouse.gov.uk/company/11899484/charges

an RNS day following a day of relative historically high volume? surly not.... that would be a clear indication of insider trading, however small the monetary values traded.....

or today just a technical rise to back inline with moving averages?

Good luck either way.

Humm Maybe lse knew 2 were coming and ahead of the crowd for once :)

No probs, I had to look twice myself :)

No RNS so far, that’s Just LSE catching up with everyone else.

Fully aware of that, when I had misplaced faith here at 2.4-3.2p, i did the maths back then.

Or Divest pinemills and the recent twin well to shareholders via a new private company, sell off the other stuff, become a shell.

Would Just need one or two people to oversee that new Private company, it would have very low overheads and pay longer term dividends. Then sell if and when needed with all cash divested to shareholders of new private company

Easy longer term, returns something to shareholders and draws a line under the whole thing.

pretty simple recover plan needed here.

- Stop buying up leases and other crap
- sell up non producing assets, you dont need to keep buying every bucket lease in the whole state of Texas
- cut out everything that involves high admin expenses.
- Sit back and let profitable wells produce and bring in cash.
- Just Fix these wells where and when needed.
- lock your oil price in when the price is high for aslong as possible.
- with admin costs and director remuneration reevaluated to cover this very simple model there should be some cash left over each year to pay some dividends to shareholders, and leave any leftover cash in a bank account that requires parental permission to withdraw funds ;)
- if after a few more years of depletion at pine mills it seems to be drying up beyond economic sense then sell it off.

Pine mills should have been a cash cow the last few years. (relatively speaking to the mcap) but your admin costs ate it all up.

Do forum have the knowledge and backing to help push for a positive result from SMP?

The sums added up that the Current board were reading the cash just to settle.

If it’s a success that might be the licence fee covered.

“7. 600 - Apply resistance at the ASK to keep the price from increasing.“

Just like the 1 share trade The mm codes are an urban myth but you have to question it when JBER drop the ask to 0.4 from 0.45 followed by a 600 trade one minute later.

Every time this drops it’s JBER on ask.

snap.

**here you go Big, this was the remaining part of the email from Richard today, its too long for one post. so add this to the end of Merlins post ***

3 What looks to be a clear breach of fiduciary duty on the part of the current Board, in particular Ms Sarah Cope who has singularly obfuscated attempts by Richard Jennings of Align Research and his consortia to attempt to rescue value within the company.
By way of background, as per the open letter to you per here - http://www.alignresearch.co.uk/anglo-african-oil-gas/open-letter-to-marcus-stuttard-ref-anglo-african-oil-gas-plc/ from Mr Jennings of 19 January 2020 it seems that a solid offer from Mr Jennings and Co that was at a higher level than that which Ms Cope and her remaining Board sold the block of ESA stock held by Riverfort & Yorkville was simply ignored. This is a clear breach of fiduciary duty that has resulted in the deprivation of value to AAOG through the sale of the ESA stock block at a significant discount to Mr Jennings and Co’s offer. This comes on top of many millions of shares being voted against the resolutions at the GM on the 13th January and that were simply disallowed with AAOG directors being purposefully opaque until mere days before the voting deadline as to the procedure to follow.

The AIM market has become riddled with corruption, fraud and the latent protection of vested interests of crooked directors rather than the furtherment of their shareholders interests in recent years. In short the market that you preside over has become toxic. It is time that proper and thorough investigations into wrong doing is acted upon and there seems to be more than ample material for you here to send such a message to the wider market in bringing wrongdoers to the wider market’s attention should you establish such.

This whole AAOG episode is an example of where directors interests are at clear cross purposes to their very shareholders they are tasked to represent. It is a travesty of epic proportions.

CC Christopher Raggett, Finncap

CC Mark Steward, FCA Head of Enforcement

Richard Jennings

Director

Align Research Ltd

Thanks Tiburn, the 25th date is for the Zen loan, i had on my mind that was the date for the Ministerial consent which is yet to be confirmed.

So that effects the the next SMP court case, looks like this case and its outcome is fully on AAOG to sort out,
"The next procedural hearing has been set for 5 February 2020 for the filing of the Company's submissions."

Im trying, if im wrong happy to be corrected.

Zen loan - one was plus, one was minus.

AAOG are still due 20% of the $5.3m claim.

If Zen spend $5.5m on through AAOG Congo on the well 40% can be claimed through production as per the JOA, 40% of $5.5 is $2.2m, 20% of $2.2m is $440k.

just trying to cover all angles with my notes.

i agree with the thread title, but now that this listing is priced at lower than its ADVFN holding why not offload the ADVFN stock, bin off the mining crap and become a cash shell again, probably have a better chance at doubling your money from here that way.

i see Italian socks posts and even papas thread here referring to it have been remove, no smoke without fire. glad i got them screenshots.

A little update on where i think we stand with expected cash.

+£360k from Forum
+£250k from Zen (loan)
+£500k from zen (over 6 months)
+£500k in Zen shares (once issued at 14day vwap ~2p)
+£250k ATOG
-£250k Zen loan

= £1,610,000

Credit Available = £500k on CLN from Riverfort prearranged and ready if needed.

$1.1m (~£850k) carry on the 20% of AAOG Congo
$1.06m (~£815k) due from SNPC (20% of $5.3m)

+ 40% of that $5.5m work program in the future would be billed back to SNPC ($2.2m), 20 % of that would be due to AAOGs = $440k (£340k)
+ $400k (£307k) Carry on the licence renewal.

-/+ Potentially 20% of $650k SMP claim worse case -$130k (-£100k) vs a +$3.1m claim, 20% of = $620 (so up to +£475k to AAOG)

Possible excise of Put / Call option for the 20% to Zen = £1m-£2.5m Jan 2021 in Zen shares.

Milton as a potential seller of 49,288,347 shares.
Forum commited to hold 75% of shares from ISA, so are able to sell ~21m shares.
Zen deal planned completion 25/1/2020
SMP communication update in Feb

??? $1.7m claim from Askell ???
Zen just called in ~£3.6m on bonds @10%
Forum links to UK O&G PEDL 005, Saltfleetby Energy.

minus wages, day to day costs and whatever else is in the closet.
- Current Mcap £1.6m / 0.4p/ <400m shares in issue)

aligns initial offer was an alternative and to try and get Zen to up their offer.
Could say They did increase their offer with the put and call option and offer more cash up front (be it in the form of a loan).

The newer warrant issue is clear, forums offer was £126k lower but they has credible links and projects for the company to RTO.

£126k for the opportunities that forum could open up is a lot less than due diligence on other projects and dare I say it some security for shareholders so I can see why the option was taken over Align.

Nothing stopping Align buying in open market or forming a deal with Milton if they were so inclined to do so.

Problem was Sarah saying “ the Company cannot accede to the sale of the Ordinary Shares held by Riverfort” then do I the opposite a few weeks later. Clearly that statement was incorrect.

Hay Forum can you pop another ~£4.5k in and buy 1.2m shares, just to put you over the 24% mark, to trigger another TR1, I don’t think the market thinks your serious yet. And give us some breadcrumb clues on an asset, Thanks