Member Info for kentan

The 380k+ buy and sell for £19k are my Bed & ISA's to take advantage of the full allowance.... Cost me £40.85 with spread and charges.

Both shown as sells ,,,, never believe what you see on here,

I have a vision of... Stefan Olivier dressed as Johnny Depp's "Jack Sparrow" character from "Pirates Of The Caribbean" boarding the oil tanker and taking control. He changes course and unloads the entire oil cargo to the Angolan Mafia for bags of gold bullion and then fills the tanks with seawater to restore the draught to 11.1m and the Karvounis merrily returns on its journey to Melbourne Australia, with nothing looking suspicious until it discharges the cargo.
Meanwhile, Jack (Stefan) has it on his toes to an idyllic palm tree laden beach, on a secluded island, to spend the rest of his life surrounded by tropical beauties who succumb to his every request.... all paid for by US!!!!

"Karvounis" has gone on the missing list again, shortly after leaving Cape Town en route to Melbourne on 25th March.... eta remains as 12/04/2019 19:00hrs UTC.

"Oh where, oh where has our little oil gone?
Oh where, oh where can it be?
With its cargo cut short and its journey cut long,
Oh where, oh where can it be?
La la, la la la la…

Oh where, oh where has our little oil gone?
Oh where, oh where can it be?
With its cargo cut short and its journey cut long,
Oh where, oh where can it be?"
La la, la la la la…

Come on Stefan, join in and tell us the answer ... LoL!!!

Refer to the ACG website and Twitter for updates.
Announcement to be made on Monday 1st April..... "AprilFool's Day"
ACG are represented with a stand at the UK Investors Show, Queen Elizabeth II Conference Centre, London, this weekend, 30th March 2019.
Hopefully, someone will be on hand to answer questions.

Arrived at Cape Town on schedule, quick refuelling and onward to Melbourne, Australia with load intact, draught 11.1m.
ETA Melbourne 12th April 09:00hrs UTC.

Could be the oil cargo got resold to the Aussies in transit for a better price.

Karvounis has suddenly appeared on the radar (4hrs ago) ... heading South, now crossing the border between Angola and Namibia, destination Cape Town, South Africa, eta 23rd March 17:00 (UTC).
Making good headway at 12 knots, draught is 11.1m (already lost some cargo on the way? ... was 11.2m when it departed FP).

Crude oil tanker "Karvounis" ... where are you?
No news since Friday.
Has it be hijacked by pirates with our oil onboard?
Is Stefan Olivier having to pay the ransom?
Is it another "Marie Celeste"?

Strange that crude oil tanker Karvounis is still showing the last position as of Friday 15th March, being near Front Puffin awaiting orders ... whereas FP does not show it as being nearby 35 minutes ago.... has Karvounis deliberately turned the GPS off to keep us guessing on the destination for the cargo?
Typical of what we have come to expect with MXO ... it is all secrecy, intrigue and smoke and mirrors.
Where is our oil please?

Uplift completed. Destination not advised, awaiting orders.
Crude Oil Tanker "Karvounis" departed 20:27 Local Time 14/03/2019 with a draught of 11.2m (8.8m when arrived), same as last November.
Perhaps (being too optimistic) we will get an interim report for Q1 in early April, but don't bank on it.

The rising oil rice is of interest to the ongoing uplift from FP....
In the past, the price realised was an average of the 5 days prior to the uplift ... so with around $67.66 today for Brent Crude and down to $65.74 on 8th March (5 days ago) that makes for an average of around $66.70 which gives plenty of profit over the Capex.

Crude Oil Tanker "Karvounis" is standing off Front Puffin waiting to connect up for an off-load. ... will monitor and report progress.

Lol !!!
He is not my mate .... what gave you that idea?
But when he appeared before the Parliamentary Select Committee (BHS/Sir Philip Green) they weren't impressed.
Looks and acts very shifty ...
He is the founder of Cornhill with Stefan who was/is also working there. They connive with each other.
Cornhill brought Astar Minerals plc (later changed to MXO) to market, with him as chairman and SO as the CEO.
There is a web of directorships under different names (same surname) for both, to hide their true status.

Mitch,
2 statements of capital issued on 07/03/2019 ... no Confirmation Statement to update on the new shareholders or increased shares in issue.
I expect SKO Holdings (London) Ltd or Natural Vita Ltd will feature somewhere with Stefan Olivier and Andrew Frangos involved.
Frangos Linkedin profile:
https://uk.linkedin.com/in/andy-frangos-6735475

Mitch,

I have just copied and posted what our Norwegian friend has put up.
This has been translated from Norwegian so you have to make allowances for "lost in translation" changes that might occur.

They have already paid their share towards the renewed Aje licence, so I expect he means lose ownership means by the sale of their Nigerian asset.... they are now concentrating 100% on Gabon & Tunisia projects.

From their last presentation in February, it is clear that Panoro are not committed to the Aje OML-113 field with the likelihood of a cash call to fund the upgrade to drill the new wells (mainly for gas) or getting involved with other JV partners who may come aboard. There is also the uncertainty with the Front Puffin contract.

Nigel McKim, former Chief Operations Officer (COO) of MX Oil (Jan 2016 - Dec 2018) has joined Panoro Energy (PEN:OSL) as Projects Director.

https://www.linkedin.com/in/nigelmckim/?originalSubdomain=uk

Gunnarius a poster on the Norwegian Hegnar.no forum is not impressed, he posted:

"McKim has thus worked as a COO in MX Oil for over 3 years, where he has focused on Aje. An asset that Panoro expects to be disposed of or the company will lose ownership. True, McKim has broad operational experience on a global basis, so Aje in Nigeria does not in any way disqualify any other expertise in Panoro. It's just so odd that one of Aje's acquaintances is now part of a company that apparently doesn't have Aje as an asset or production on the radar at all.
Or does Panoro have a deeper agenda with Aje?
Aje - the company's wild card !!"

Others also question the appointment.

£27,500's worth bought today, despite a big spread (33%) ... Could it be "The Mad March Hare"???

The Norwegians in Panoro (PEN) seem keen that BWO get involved with Aje OML-113 stakes in PEN & MXO ... has some credence as they operate a fleet of FPSO's and Drilling ships, so would be ideally placed. After the downturn in oil prices they mothballed some of their vessels, so have plenty of spare capacity to utilise.
Having noted that Lekoil used Front Puffin to do a third party lift in January, it may mean that the interested parties sniffing around the Gulf of Guinea will spread their risk.

With the elections still causing turmoil in Nigeria and rebel insurgents making a fight back (there was an explosion in the Lagos Delta last weekend, 50 injured) it may be no large multi-National will get involved until some stability returns. Thankfully, Aje is far enough west to escape any trouble or threats and is 27km offshore. I have noted that a passenger vessel has been standing off FP for the past 2/3 weeks, probably with armed guards aboard to protect the oil field.
As Shell have found to their cost, corrupt insurgents/pirates have broken into their pipelines and syphoned off $millions of oil throughout the Nigerian mainland. Local politicians/warlords turn a blind eye because they have been bought off, corruption is rife still..... Until the Government takes steps to stop it, major oil companies will stay away.

Counting up the shares on the last Confirmation Statement there are a total of 49,177,571 shares in issue.
If MXO 195,000 holding cost £865k (= £4.436p per share) = MCap for SD of £218.5million ... which seems too high.
Think it may have been more like £86.5k (44.36p ea.) which equates to £21.85m MCap., still a sizeable sum for a private limited company.

Laughable on 3 paltry trades that don't add to £1k.
It is just the MM's playing games and increasing the spread to 50% making them untradable.

Mitch,
What you fail to understand, Stefan has been screwing MXO (a company he incorporated from his time at Cornhill with Frangos) for an enormous inflated salary for the past 5 years, with very little to show for it in terms of share price. Up to last Summer when he decided to accept shares instead of salary (his holding went up from 10m to 63m shares) he regularly increased his salary, in increments, from £95k to £235k per annum. In this time we have suffered a debacle in Mexico, a phantom Nigerian buyer of our stake in Aje for $18m that never materialised and a diversion to get involved in a prospect in Grenada which has gone quiet.
Andrew Frangos has a very chequered business history. He was recently called before the Parliamentary Select Standards Committee in the much publicised BHS / Phillip Green / Pensions scam, where in answers he didn't cover himself in glory. Frangos was involved in brokering the deal between Green and the cowboy buyer.

My first thought with the SKO Holdings London Ltd registration (SKO are Stefan's initials) was that he might have invested in Superdialectrics Ltd using his new company to hide his interest. But no mention on the last Confirmation Statement, but that is not to say it will be revealed on the next one.

Frangos and Olivier are slippery, we need to be vigilant to protect our shareholdings in MXO, they are just out for themselves with no consideration for us long term shareholders.

Just seen he has been playing around with a company Natural Vita Ltd ... and guess who else is/was involved ... none other than Andrew Frangos (our ex-chairman) and colleague of Stefan Olivier in Cornhill.
N V Ltd., incorporated 21st Jan 2019 with Frangos as sole director and co secretary.
Stefan Olivier appointed as a director on 11th February 2019
Andrew Frangos resigns as a director on 13th February 2019, but remains co secretary.
Sub division/consolidation of total shares 1st February 2019 from 100 nominal 1p shares to 40,000,000 at the divisor value.
So what is this little ploy all about? ...

and previously:
SKO Holdings London Ltd.
Incorporated 24th October 2018 with Stefan Olivier as sole director.
Just after the Superdialectrics Ltd investment by MXO .... hmmm!

"What A Tangled Web We Weave When First We Practice To Deceive" .....