Member Info for itisagame

Just saw that tweet, same thing kinda :)

If that’s the case why not buy 5% and force a EGM with a vote on dispersal of funds to shareholders?

Nah your probably right ;)

Or

Sarah, James and prior directors knew they screwed up the well and knew that AAOG simply was under invested (because they had the ISA deal over cash upfront) and had no cash and no way to finance the near term future of the project including licence deadline, so instead of admin they opted for a way to cover the capex required short term, yet keep an interest.

Forum see the RTO potential and then purchased the 2.5% of shares off market to encourage the board to take their deal and offer of buying the ISA seriously.
With the intention of Forum using the remnants of AAOG to finance a UK o&G play on their books.

Believe it or not there may be a slither of a chance that it was all done with the best intentions of shareholders at heart.

Two sides to all stories. It can be hard but I try to see the best in people.

One overlooked thing from yesterday’s rns

“ The Company continues discussions with RiverFort regarding a convertible loan facility. However, the immediate need for, and the [potential] quantum of, any such a facility has diminished given the proceeds from the block sale of ISA Shares.”

So other than potentially Milton I don’t think any large sellers or forward sellers are in the market currently. Squeeze? :)

Zens wording “entered”
AAOGs wording “executed”

Completely different terms and meanings, come on give us some consistency

“ Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it has entered into the put and call option agreement ("Put and Call Option Agreement") with Anglo African Oil & Gas plc ("AAOG") over the residual holding of 20 percent in Anglo African Oil & Gas Congo SAU ("AAOG Congo") that AAOG will retain ("the Residual Shares") following the signing of a conditional share purchase agreement ("SPA") for Zenith's acquisition of an 80 percent interest in AAOG Congo (the "Acquisition").”

AAOG announces that it has executed the put and call option agreement (the "Put and Call Option") with Zenith Energy Ltd ("Zenith") in the form envisaged in the term sheet entered into between the parties and as announced on 13 January 2020.
The two options are over the residual holding of 20 per cent in Anglo African Oil & Gas Congo SAU ("AAOG Congo") that AAOG will retain ("the Residual Shares") following the disposal by the Company of 80 per cent of its interest in AAOG Congo to Zenith (the "Disposal"), which was approved by the Company's shareholders at a general meeting held on 13 January 2020. The Disposal remains subject to certain regulatory requirements in the Republic of the Congo including notification to the Minister of Hydrocarbons. The Put and Call Option is conditional upon completion of the Disposal.
The key terms of the Put and Call Option remain as announced on 13 January 2020 and are set out below for the sake of completeness

PEDL 005 shown on this map, just north of Louth, Linconshire
https://humberoilandgas.co.uk/biscathorpe/

maybe a farm in to one or more of the following
TF38a
TF39a
TF48a
TF49a
Or maybe (i have not come across any so far) a non UK asset?

i might be letting my guard down but the more i look at forum the more intrigued and almost excited i am.

Saltfleetby had £14m cash on last set of accounts, and the fact that forum owns 75% of it as of 17/6/2019, and that is why companies house shows nothing for Forum - their last accounts note was dated "Previous accounting period extended from 31 December 2018 to 31 May 2019" which is just before the declared 75% ownership of saltfleetby

https://beta.companieshouse.gov.uk/company/00953066/filing-history

done, 15 pages of screenshots, the first time 3 monitors have ever come in useful.
that the kind of thing the trolls at share prof.... and the ilk like to have so expect it in an article beforelong (not from me though).

would be a such a shame if it took the 14 day VWAP down.

"After I rejected, my old colleagues in Orion Securities Norway (which now doesnt exist, but it's the same peoples now working directly for Zenith without any permission from the Norwegian Financial Authoroty to make M&A's which is not legal, but thats another story) suddenly was given the Private Placement-case, but now @ 0,35."

I can see why he gets on so well with our directors.

haha it seems that way Tilburn!

ps clicked on every UK O&G license on ogauthority, saltfleetby are only listed on the PEDL005,

and on a side note interesting to see that most of the UK licenses are operated by EGDON, INEOS or IGAS i knew they were big but their control is massive.

that is actually hilarious, i mentioned Angus' £1 purchase of Saltfleetby gas field just the other day

"Doesnt have to be a Zen asset but potential is out there, a simple asset to retain the listing, a new asset could be taken on with close to no upfront cost and only cash being spent on development at later stages down the line (eg Angus and the gas project that cost £1 + cover decommissioning costs in years to come, by which time i would expect the subsidiary for Angus to have ceased trading or be sold off but thats a different story.)"

This is the same company Wingas / Saltfleeby / Forum all linked
https://www.lse.co.uk/rns/ANGS/angus-energy-plc-acquisition-of-interest-in-saltfleetby-gas-field--1fyx9d6q96omon4.html

https://itportal.ogauthority.co.uk/information/licence_reports/onshorebylicence.html

have a look at that

i just had got my head around their reasons for disposing of the 80%, yes it was "cheap" but i understand the difficulties surrounding needed capital raises for license renewal and drill campaign. and had come to terms with this.

But today this makes no sense.

Forum dangling the idea of RTO targets infront of the board makes no sense because Forum is a Ltd shell with no assets.
If you want to dangle actual assets and prove viability it should have been say SALTFLEETBY ENERGY LIMITED or whoever owns the assets they want to offload as the purchaser.

Ok, ive had a look what am i missing?
every figure apart from the retained losses on the interims is positive, and they look to have more cash coming in then mcap, no noticeable debts.

help me out what unlisted debts or skeletons am i missing? the market doesn't offer things like this without a catch :)

Well if you are reading this align for as long as I hold them You can consider my shares towards calling an EGM to boot them out, ~4.1m

Wouldn’t it Be a shame if Align Buy out the Riverfort CLN at <0.65p

If anything it has upped the vwap for the CLN.

Zen down again today so that’s currently going in our favour too.

20-Jan-20 13:26:53 0.50 84,041,011 Buy* 420.21k

Stinks like Sefton / EgHOS / wdc / gay star news.

We will take control, here is a worthless asset that we own that you can have for £X million.