Member Info for kentan

No sign of any crude oil tankers in the vicinity of Front Puffin.
The oil price has slumped to circa $58 based on fears that the Corona Virus will impact on lower demand from China and world markets have started the week with a knee jerk reaction. Lower demand = higher inventories, so oil price falls accordingly.
Could be they will try to weather the storm in the hope that crude prices rise before the next lift.
After the recent strength in oil price caused by sabre-rattling Iran, we were expecting the price to settle around the $65 ppb, but this virus is now the monkey in the room. Hopefully, it will gain about 10% before we offload (price is calculated on average over 5 days prior to the lift).
Recent visit by the chemical tanker to FP may have been to flush the tanks of the FPSO and general maintenance during a quiet period.

We may see a transfer of stock by PH to keep them below the 29.9% threshold whilst still acquiring shares.... likely benefactors could be Lesoza Enterprises & Winrose International, both controlled by Andrew Frangos, to maintain the status quo.

MX Oil purchased 195,000 shares at £4.32 ea. in October 2018 at a cost of £842,400 plus costs, so we can call it a net £850k for ease of calculating. Once licencing deals are done the value will rocket ... impossible to guess what the multiplier could go to.
Something of this size and importance, on the cutting edge of technology, could be massive, lessening the demand on batteries (lithium or whatever) in the coming age of electric everything. Automotive products, engines and motors would become cheaper and environmentally-friendly if used in aircraft, vehicle and train design of the future ... it ticks all the boxes that we are clamouring for.
Maybe, in a hundred years time, when it will be commonplace to see superconductors of this type used everywhere, their present R&D would have been seen as groundbreaking and as important as the innovation of the computer and the internet is now.
So how do you put a price on that?
The right people are involved, huge corporations with a fine track record (such as their partners: RR, Siemens, Airbus etc) who have the clout and expertise to evaluate and develop innovative technology.
We are in on the ground floor (more like the basement) at the very start of this journey.... however it progresses is anyone's guess at this moment, but it may be seen in years to come as one of the shrewdest investments ever made and consequently one of the most valuable.
Let us hope that those in ADME do not mismanage this jewel in the crown and their greed does not get the better of them.

continued ....
Ms. Mahlet Yohannes is listed on LinkedIn as the manager of business development at Seawave Invest Ltd.
According to her profile, she lives in the United Arab Emirates, studied in Sweden and at the University of Wolverhampton, and speaks English, Swedish and Amharic – the official language of Ethiopia.
Ms Yohannes has not responded to a message left on LinkedIn.
According to the profile, she has been Seawave’s manager of business development since January 2016 and held identical titles at Bio-Power SA and Osam Energy Ltd in 2016 and 2017.
Osam, where she started a month before Seawave, according to the LinkedIn profile, is an oil, gas and property company. It lists its address in Accra, Ghana.
A company called Biopower is listed on Seawave’s website as a partner.
A rare photo of Bismarck Abrafi:
https://www.google.com/imgres?imgurl=https%3A%2F%2Fmedia-exp1.licdn.com%2Fdms%2Fimage%2FC5603AQH6ptTQplQtBQ%2Fprofile-displayphoto-shrink_200_200%2F0%3Fe%3D1584576000%26v%3Dbeta%26t%3Dwi1eqzGHhsCq9aAGK2BngCO3yqrFG3Hnu8juzGzP2hs&imgrefurl=https%3A%2F%2Ffr.linkedin.com%2Fin%2Fbismarck-abrafi-72942695&docid=Gb2Jsb1UMmMeOM&tbnid=KF3ycKYmu47GhM%3A&vet=10ahUKEwjhspCz6I_nAhX0XRUIHbUjAWkQMwhCKAAwAA..i&w=200&h=200&bih=561&biw=1163&q=Bismarck%20Abrafi&ved=0ahUKEwjhspCz6I_nAhX0XRUIHbUjAWkQMwhCKAAwAA&iact=mrc&uact=8

Some more information on "Bismark Abrafi" ... who seems central to the introduction of QIA to Lekoil.
He is a Dutchman, (last address recorded) Laan Op Zuid 118 3071 AA, Rotterdam, Holland.
He was a director of a British registered company NATA PETROLEUM Ltd (Company Reg. No.: 06576683) from 25/04/2008 until 07/09/2010 when it was dissolved and struck off at Companies House. Its registered offices were in East Dulwich, London SE22 and later moved to Crystal Palace, London, SE26.
Four men can be seen in 5 photographs of a meeting (one dated July 2017, the other 4 in Sept 2017) on Seawave Invest Ltd website. One of the men has been confirmed as a Mr John Cecil, an Indian businessman and chief executive of "Kallo Inc", a medical company. His picture matches an image on the Kallo website.
Kallo is listed on the USA Over-The-Counter exchange and has a market capitalisation of 13 million US dollars (£10 million). However, on its website, OTC Markets, a stock market which lists Kallo shares, said: “Warning! This company (Kallo) may not be making material information publicly available.”
A filing with the US Securities and Exchange Commission (SEC) from 2017 revealed that Kallo had not made any sales for eight years. “There is substantial doubt that we can continue as an ongoing business for the next 12 months unless we obtain additional capital to pay our bills. This is because we have generated no revenues from our operations during the last eight years,” the document said.
In the SEC filing, Kallo listed a number of African projects it is involved with and revealed that Seawave Invest Ltd Bahamas was arranging project financing. It did not reveal which of the projects Seawave was involved in.
Others Kallo said had helped arrange project financing were Nova Capital Global LLC and Grissag AG. On its website, Seawave lists Grissag as one of its partners.
Kallo lists two phone numbers on its website, one in Canada and one in the US. The Press Association repeatedly called both, but did not get an answer. The US number was not in service.
There is no indication that Kallo or Mr Cecil were part of the alleged scam against Lekoil.
Next to the man thought to be Kallo chief executive Mr Cecil in the photographs are three other men, none of whom is identified by name.
A bottle of Belaqua-branded water is seen in one photograph. Belaqua is a Ghanaian brand, making it likely the meeting took place in that country.
Bismarck Abrafi is listed on LinkedIn as Seawave’s managing director. He has not responded to an email to his Seawave email address, or to a message on Linkedin.
Mr Abrafi bears a striking resemblance (posted on French Linkedin.com) to one of the men who met Mr Cecil in the photographs on Seawave’s website, but the PA was unable to positively identify him 100%.
continued .....

Lekoil’s CEO, Lekan Akinyanmi was introduced to the fake Qatari investors early last year by Bismarck Abrafi, managing partner for Seawave Ltd, according to people with knowledge of the matter.
Lekoil’s board was introduced to the QIA representatives and negotiations then got going. Mr Akinyanmi flew to Istanbul and other locations in the Middle East as details of the deal were ironed out, one of the people said.
Bismarck Abrafi is Vice President & C.O.O for Africa of Seawave Invest Ltd according to his Linkedin (France) entry.
He is also Executive Chairman of:
Alpha Holding In (... not found in searches of registered financial services companies in Geneva or worldwide)
Registered: Geneva
Apr 2011 - Present 8 years 10 months
Financial brokerage firm, private equity, mergers, introduction of foreign multinationals companies in Africa.

So this must have raised suspicions when Lekoil's appointed law firm Norton Rose Fulbright LLP did due diligence and advised on the documentation needed for the deal.
The investigation continues ...

14 not 16 new companies (I lost count, Lol!) ...
They are all registered at the same address:
15 South End Bassingbourn, Royston, Hertfordshire, SG8 5NJ where the original company Augmented Optics Ltd was registered before the name change to Superdielectrics Ltd.
I think the reason for these multiple registrations are for World Wide Patenting applications that use their innovative capacitor storage technolgy and create value for the enterprise.
In future, I would expect Superdielectrics Ltd (the parent company?) to probably be re-registered as a "Holdings Company" with all of these new satellite companies under one umbrella and maybe relocated offshore.
Could also be the precursor to them being floated with a definitive market value ... so they may look for a company with a current listing to reverse into ...ADME? ... and then encourage investors to help raise capital to fund the development of their products and applications quickly (remember, the guy who discovered the novel way to use his research, Prof. Donald Highgate (not Holgate as in my previous post) , is now nearing his 80's).
Worth keeping a close eye on....

Just had a trawl through Superdielectrics Ltd on Companies House, where we (still listed as MX Oil) have a holding of 195,000 shares, searched via the excellent "Open Corporates" website:
https://opencorporates.com/companies?jurisdiction_code=&q=superdielectrics+ltd&utf8=%E2%9C%93
Seems a lot of things have been happening in the background, without any press coverage or notifications, where the 3 main directors, Heathcote, Holgate & Spence, have incorporated no fewer than 16 new companies on 21st October 2019:
1)SUPERDIELECTRICS AUTOMOTIVE Ltd
2)SUPERDIELECTRICS AUTONOMOUS FLYING VEHICLES Ltd
SUPERDIELECTRICS ELECTRIC AIRCRAFT Ltd
SUPERDIELECTRICS ELECTRIC BICYCLES Ltd
SUPERDIELECTRICS ELECTRIC HOUSEHOLD PRODUCTS Ltd
SUPERDIELECTRICS ELECTRIC INDUSTRIAL PRODUCTS Ltd
SUPERDIELECTRICS ELECTRIC SHIPS Ltd
SUPERDIELECTRICS ELECTRIC TRAINS Ltd
SUPERDIELECTRICS GRID POWER MANAGEMENT Ltd
SUPERDIELECTRICS MOBILE ELECTRONICS Ltd
SUPERDIELECTRICS MOTORSPORT Ltd
SUPERDIELECTRICS RAPID REFUELLING Ltd
SUPERDIELECTRICS RENEWABLE ENERGY STORAGE Ltd
SUPERDIELECTRICS VERTICAL FARMING Ltd

Norwegian based PetroNor recently agreed to buy out the interests of Panoro Energy on the adjoining AJE OML-113 field with ongoing negotiations with the operator Yinka Fulaweyo Petroleum to share the costs and provide their expertise in deepwater drilling. This awaits approval from the Nigerian Authorities.
The Lekoil scam could be seen as a golden opportunity for PetroNor to also get involved in this adjoining field and make full use of AJE's FPSO if required (has been done before). They would have no trouble meeting the $10m licence payment due next month and for the future $28m guarantee to be in place. There is also an expected $4m survey expense to be incurred.
PetroNor has the backing of Saudi financiers with deep pockets, as a predatory company they could seize this opportunity to bale out Lekoil or enter into a JV with them and the field operator. Being so close to OML-113 it makes sense and could quickly turn it around from OPL (Oil Prospecting License)-310 to OML (Oil Mining License)-310 as a full oil/gas production field.
Just a thought ....

(Sharecast News) - Shares in Lekoil have been suspended after doubts were raised about the validity of a loan agreement supposedly struck with the Qatari Investment Authority.
Lekoil announced at the start of the month that it had struck a $184m financing deal with the sovereign wealth fund, thereby securing funding for the appraisal drilling in the Ogo field off the cost of Nigeria. Shares in the company soared on the announcement.
The seven-year facility was due to be disbursed in five tranches over 11 months, with the first drawdown due in February.
But on Monday, Lekoil said that the QIA has since approached it "questioning the validity" of the loan. Sources at the QIA reported having no knowledge of talks or of the loan, according to specialist website Energy Voice and the Financial Times.

"Lekoil is urgently seeking to establish, alongside its legal counsel and nominated advisor, the full facts of this matter, and pending this clarification, the company has requested that its ordinary shares be suspending from trading on Aim with immediate effect," Lekoil said in a statement.
Lekoil added that it had so far paid out $600,000 "in good faith" to Seawave Invest, which introduced the company to people purporting to be from the QIA.
Seawave is a consultancy based in Accra, Ghana, that specialises in Africa-focused cross-border transactions. It has so far declined to comment, including hanging up the phone on the Financial Times.
Shares in Lekoil closed yesterday at 9.40p, having started the month at 4.65p touching a high of 11.0p.

See Ghana is involved again ... wouldn't be surprised if The Shabby Sheikh & his sidekick Umar Farooq Zahoor are also involved in this tidy scam ... whoever it is will no doubt take refuge in UAE, where they keep more than one criminal living a life of luxury on the proceeds of crime.

Well, well, well ... or rather "No Wells" in this case.
It appears the recent Lekoil (LEK) investment plan and the RNS announcements regarding the planned Qatari Investment Fund contribution of $184m into the OPL 310 Ogo Field was all FAKE NEWS, perpetuated by postings on Twitter which are currently being investigated as BOGUS and may have been manipulated by day traders in the stock.
LEK has been suspended on AIM pending further enquiries.

It just goes to show how corrupt and disingenuous some of the shares discussed on these forums are ... including ourselves, ADME, after being led up the garden path by The Shabby Sheikh last year and numerous other scams called into contention by underhand dealings (Atlantic Carbon / Atlantic Coal being one, after misleading shareholders of a refloat last April, only to go into liquidation in June).

I wonder if those who invested in ORCP are now getting itchy feet, it seems crooks and conmen have found AIM-quoted stocks to be a fruitful playground. I see that Sheikh Ahmed first made promises to Pakistan's giant Frontier Works Organization back in 2017, with MOU's being signed, only for nothing to have come of it 3 years later ... and still waiting. It must be odds-on with his past record (in cahoots with his close associate, the criminal, Umar Farooq Zahoor wanted by Interpol) that he will sell his holding (don't know if he has parted with any money yet) for a profit and run.
A lot of his tours of Asian & African countries, schmoozing the rulers and dignitaries into signing MOU's, come to nothing ... I think he has become a bit of a laughing stock. The one deal he concluded, aided by UFZ, resulted in a giant con of the Ghanaian government, in collaboration with the then President, John Mahana and his cronies who had their hands in the till to the tune of $210m ... very nice work if you can get it, but totally corrupt.

Let us hope that little old ADME has seen the last of any "suspicious deals" (given our history of false dawns in Mexico, Grenada and dodgy Nigerian Oil barons and Sheikhs introduced by Stefan) ... OO be aware!!

Announcement of his death on 10th January 2020. he was 79.
Sultan Qaboos bin Said had no children and did not publicly appoint a successor, but left a name in a sealed envelope if the royal family cannot decide.
The country is now in a period of mourning.
Hope his successor continues to progress the economy and enterprise he began in Oman.
Savannah Resources will have to wait a little while longer before any news of a mining licence being granted.

Thanks for your opinion Spikeyj, was wondering when you would pipe up.
A bit like the curate's egg, good in parts.
Have you commented on Lekoil or Oracle recently? ... would like to hear your opinions on them with all the furore.
It is good to be able to have the opportunity to discuss these investments, whether you are invested or not.

LAGOS BILLIONAIRE, TUNJI OLOWOLAFE SHAKES LONDON WITH DAUGHTER'S WEDDING
-How Many Dignitaries Stormed London For The Classy Wedding
-All The Juicy Details
"Last Saturday, September 6 2014, the city of London stood still, as the families of Olowolafe and Anani hosted a galaxy of personalities, who gathered to witness the wedding ceremony of their children. The ceremony involves Olanike Olowolafe and Afolabi Anani. The wedding took place at the 18th Century Luton Hoo hotel where The Queen & Duke of Edinburgh spent their honeymoon in 1947. The 5-star Luton Hoo Hotel Golf & Spa sits on 1,065 acres of luxurious grounds, parkland and gardens, is a choice location with television and film-makers.
Hundreds of guests flew to London to attend the event. The guests were entertained by Davido, Tiwa Savage, Nyaya, Emma Nyra among other top music acts.
The bride, Olanike is the daughter of Dr Tunji Olowolafe. He holds the enviable position of being one of the most respected and adored personalities in society. The name, Dr Tunji Olowolafe is not one that likely to strike a chord of instant among most people. But the personality behind that name is a prominent member of the Nigerian elite class. Besides, Olowolafe is also popular on account of the fact that he has the honor of having many people in the corridors of power as his close friends.
Olowolafe is the Managing Director and Chief Executive Officer of Deux Project Limited. He is a medical doctor by training and has worked as a health worker across various parts of South Western Nigeria. Olowolafe is a major investor and leader in Public-Private Partnership (PPP) infrastructure projects, including serving as Chairman of Lekki Concession Company and Eko Rail. He also acts on the Boards of a number of other companies in different sectors of the Nigerian economy. His passion for medicine culminated in the formation of Deux Project Limited - a company initially focused on restructuring and fitting out world-class hospitals across various parts of Nigeria. Deux Project Limited has expanded its focus to include general civil engineering, construction and consultancy. Also, he is the Chairman of GZ Industry Limited, the only can manufacturer serving the Nigerian market.
Fondly called Lafe in Lagos Government Circles, Olowolafe has also worked for the Federal Government and some other state governments for over 20 years."

So her Dad is not only minted, he has all the right credentials to get things done properly in Nigeria (perhaps Prince Harry should have married her instead of Meghan Markle, LoL!).
He moves in all the right circles and would not want to see his daughter embarrassed by investing in a tin-pot company that blew the cash and stuffed its shareholders. He is more valuable than the shabby sheikh to us.
Let's hope Daddy can do the business and get this train wreck back on the rails.

She has a twitter page:
@NikeAnani
A very attractive young lady ... plus, she is very clued up.

If you take the principal shareholders, PH holding (21.23% at around an estimated 10p paid), Zark (9.73% at 7p paid), Andrew Frangos with Lesoza & Winrose Int'l (8.31% at 17p paid) and Mrs Anani (5.79% at 7p paid) they would all be in pocket should this go to 20p, plus you have to take into account the considerable warrants they can exercise to top up their investments.
The only ones that would be underwater are the principal Chinese investor Zhang Hao and the other Chinese who have seen dilution decimate their holdings since they got involved in 2015. I think they would need it to reach 30p to break even plus any warrants they might hold that are still viable to exercise.
There was no notification I can remember that Stefan sold all of his holdings and warrants before he departed, so he might still be able to cop a nice bonus for the shares he bought or was awarded at around 1p if he still holds them.

If PetroNor were to buy out our interest in AJE this would leave us as a cash shell with 6 months to make a rto or investment/merger into a diverse company (we still hold 195,000 shares in Superdielectrics Ltd bought as MXO according to the confirmation statement dated December 2019). With limited funds we would likely target start-ups wanting to come to market rather than get involved with something big that is already established. Perhaps this is what OO is working on in the background.

James,
I would bet 1/2 that this will happen and is the reason PH and a few others are accumulating and holding onto stock.
Not if but when.
Once the green light is given by the Nigerian authorities to the PetroNor plan, it will be all systems go to get funding in place for the next phase at AJE OML-113 (gas and increased oil). This is when ADME would struggle to obtain their share of the forward-looking plan as the minnow ... so leaves them open to be swallowed up by the predatory PNOR who would be calling the tune. Anywhere near to £10m for our share should see our SP reach 20p with a maximum 30p if we are lucky.

In those heady days of last Spring when HH Sheikh Ahmed bin Dalmook al Maktoum first reared his ugly (as it turned out) head, it is quite sobering and revealing to read through some of the posts on the MXO share chat forum:
https://www.lse.co.uk/ShareChat.asp?ShareTicker=MXO&share=Mx-Oil-Plc
Excited talk and speculation that the rebadged share ADME would reach £1 by the end of 2019 ... only to be disappointed and let down as it turned out when the shabby sheikh took flight.
Perhaps those that have invested in ORCP should remember this, a leopard never changes its spots.
It tempers any feelings of euphoria should our share price unexpectedly and suddenly rise in the near future.

I can also add that Stefan Olivier's private limited company SKO Holdings London Ltd is currently threatened with being struck off by Companies House for failing to file a Confirmation Statement by 6/11/2019.
https://beta.companieshouse.gov.uk/company/11640986

Yesterday, PetroNor made a Corporate Presentation where they are very upbeat on AJE OML-113 and their acquisition of Panoro Energy's interest.
It was also revealed that their coffers have been boosted by recent oil price strength and some shrewd investments, so they are in a position to make further takeovers, which could bode well should they decide to buyout ADME's interest in AJE to give them unfettered control in the tie-up with YFP the current operators of AJE.
To view the presentation:
https://newsweb.oslobors.no/message/493062
To view the discussion following on the Norwegian forum:
https://finansavisen.no/forum/thread/70452/view/0/0?page=1

Any speculation by PNOR could result in a huge spike in ADME shares to reveal the true forward value of our minority interest ... keep watching.

While we continue to languish in Nigerian waters, aimlessly drifting from one false dawn to another, our near neighbours Lekoil have secured funding for appraisal drilling and development of the Ogo Field OPL 310 to the tune of $184m payable in tranches over an 11 month period from the Qatar Investment Fund. This has resulted in their share price spiking from 4.65p to near 11p since 1st January.
https://www.morningstar.co.uk/uk/news/AN_1577963713892719600/lekoil-gets-usd184-million-loan-for-ogo-field-drilling-and-development.aspx
Along with board changes, including the appointment of a former UK Government Foreign Office Minister Mark Simmonds in a non -executive role.
https://www.morningstar.co.uk/uk/news/AN_1578309898401038600/lekoil-hires-two-new-executive-directors-interim-cfo-to-step-down.aspx
Pity we cannot attract directors of this calibre, then perhaps we would have a BOD to rival Lekoil and kick ass to get things moving. It goes to show, when you have the right people running a company, then investors fall over themselves to chuck money at you ... all we have is a motley crew and the fallout from a shabby sheikh playing silly buggers.