Member Info for kentan

Jam tomorrow...

Will not be long before anyone seen driving a pollutant emitting diesel vehicle, or smoking in public, will be shot on sight.

Any excuse to keep the world population explosion down to manageable levels.

Megalomaniacs will rule!

... RNS....
What did I tell you? ....
1 line ... All resolutions duly passed.
Beat me to it by issuing RNS today.

Probably in a City Wine Bar on his 3rd bottle now.

.... but not mentioning:

"..... I still have my fingers in the till"

How much will his next salary increase to?

Expect this usual short, one line RNS on Monday from Stefan:

"All resolutions passed ... and I am still here"

Great stuff OGM4 ... very concise RNS explaining and detailing their prospects.
Details of all the companies that SALV have an interest in, all with great potential.
Points to note:
1. Possible name change for the company from Portage Biotech Inc.
2. Consolidation of shares of ratio up to 120:1
3. Seeking a listing on a senior exchange (NYSE & UK Market?), (but not as a penny share).

Strange that less than 650k shares have been traded in this today, despite the big rise.
With relatively few shares in free float, MM's would struggle to prise shares off of LTH, also expect them to suddenly lower bid price to trigger stop-loss orders with no offers on ask and give them a few to trade when price increases.

Share dealing suspended on PBT.U at US$0.105 pending news (19 hours ago)

VANCOUVER, Aug. 13, 2018 /CNW/ - The following issues have been halted by IIROC:

Company: PORTAGE BIOTECH INC

CSE Symbol: PBT.U

Reason: At the request of the Company Pending News

Halt Time (ET): 2:10 PM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions

Here is some background on SALV CEO:
Dr. Ian B. Walters, M.D., MBA serves as CEO & Executive Director at SalvaRx Group plc. Dr. Walters, M.D., MBA has been Chief Medical Officer and Vice President of Clinical Development at Intensity Therapeutics, Inc. since September 2014. He serves as the Chief Executive Officer at iOx Therapeutics Limited. Dr. Walters has over 15 years of oncology/immunology drug development experience Dr. Walters served as Senior Vice President of Translational Medicine and Corporate Development at Sorrento Therapeutics, Inc. since April 2014. He serves as the Director at iOx Therapeutics Limited.

Lurking in the background and linked to these companies is Jim Mellon, in person as a director or through one of his investment vehicles (FFWD is one).

This all ties in nicely with the way this deal has been brokered. As a whole group (inc. the Canadian company Portage) they have a special place in Cancer treatment technology that is being proved to be effective in trials.
It is the right people in the right place, doing a good job.
No surprise to see Declan Doogan on the board of Intensity Therapeutics as well as Portage and the forward-thinking Jim Mellon has his finger in many new innovative technology and development companies.
Looks like a good team being assembled for future growth.

The ticker for Portage Biotech Inc. is PBT.U and has been listed un the junior Canadian Stock Exchange since 2013.
The highest share price since trading began was on Sept 29th 2017 when it reached US$0.66 and closed at US$0.62, it's 12 month lowest was US$0.052, so is today roughly trading around double that.
It successfully floated off Biohaven Pharmaceutical on the NYSE and the current price is US$33.61 and Portage is still the parent organization.
So perhaps the essence of this deal is to do the same with SALV and greatly increase it's MCAP (the directors have said they have been greatly disappointed by the company's SP performance on AIM to date)
With guaranteed funding, there is plenty to think that the deal will benefit all shareholders with plenty to look forward to.

It's a done deal that just needs rubber stamping at the AGM...
Ian Walters, CEO of Salvarx Group is also on the board of Portage and will relinquish his position with SALV once the deal is completed.
Surprised that SALV was not suspended on news of the RNS.
You had to be a shareholder at close of business on 13th August to receive the "Consideration Shares "(18 Portage shares @US$0.10 for every SALV share that closed at 44.80p)
Can't understand why MM's are not closing the spread and bidding for shares that will appreciate considerably to be worth double in future.

Is company chairman of SALV.

Another point to note .... is that the deal is regarded as a reverse takeover for all intents and purposes, so opens the door for Portage to be listed on AIM as the new name for SALV should they so wish after the deal is completed.
They also have US$7.5m in cash to fund further requirements, so no likelihood of a cash call in the future.

Do not be tempted to sell at this stage.... it is hard to get a true value for the Group.
The demerger of Salvarx Ltd (only part of the Salvrx Group) for the equivalent of 18 Portage shares last seen at US$0.10 gives an equivalent value of £1.41p per SALV share ... and like ly to rise further.
Expect Portage to apply for a London listing in the future to consolidate its prospects for further growth and acquisitions in the Biochem industry.
Its a win, win situation ... sit on your hands and see how it evolves ... especially when US & Canadian markets open.

Also, remember it is the AGM next Friday 17th August (10:30am) ... so has something been leaked beforehand that is propelling the SP skywards?

From past experience, it is not unusual for this stock to be manipulated by insider trading prior to major news.

Latest update coming on new licence for AJE OML-113 ... but nothing is ever so straightforward with Nigerian involvement.

New contract for FPSO when Front Puffin ends it's involvement ... could it be with Blue Water Offshore (BWO) who have links via Panoro Energy and are currently setting up off Gabon (Dussafu). They have a fleet of large FPSO's who could handle the Aje project for gas and oil.

Of the 10m shares traded today it is 9:1 buys:sells with a huge spread of between 33% and 25%, so reported trades could be misreported.

Are the Chinese consolidating their holdings and buying now to lower their averages of 1.5p and 0.8p ?... would make sense, a couple of 1m+ trades reported.

Hope SO isn't still in his pyjamas and missing the fun!

Looks like Align Research have forced Stefan's hand by publishing the Research Note ... Did they jump the gun and put it out early? He had no choice but to issue an RNS.
It may have also ruffled a few feathers with JV partners and taken Panoro Energy by surprise.
Funding the next stage at Aje-OML113 is the concern ... with the licence renewal now due.
Is this research note to satisfy and placate investors prepared to underwrite the project?
Share price is not responding to the upside prospect.

Nice to see the Hegnar.no forum takes an interest in what is going on here.
It can only be of benefit to both holders of MXO & PEN to share our thoughts and exchange valuable information with added comments and discussion.
I have gleaned more about the Aje-OML-113 project from their forum, no thanks to Stefan Olivier CEO of MXO who keeps very quiet and plays his cards close to his chest.
Luckily I am fluent in Norwegian, which helps.....
Ha en fin dag med mine norske venner !!!

Is funding the sticking point in the renewal of the Nigerian licence? ...

There are more familiar signs that our Chinese friends are again accumulating shares at bargain basement levels ... they have they been at it again today with 4 x 1m shares bought at 0.40p?
Counting back to May 21st. there are now 9 separate buys of 1million shares at below 0.50p ... with others of up to 2m+ on the books.
Given the Align report earlier, that could make a nice profit if the SP reaches 3.15p as forecast, with further upside into the giddy 4.65p per share before dilution... (around 1,000%+)

I see the MX Oil website now includes the annual report for 2017 dated 28th June 2018 is now mentioned, but the significant shareholder list remains the same, last updated 6th March 2018.
I cannot believe that the Chinese names have not changed their holdings, with even more (nominee) names added to the list ... remember for all intents and purposes they are unconnected ... until they act in concert and take control.

Reading through the Hegnar.no forum earlier, they have taken notice of the Align Report as it affects the Panoro Energy interest (PEN:OSL) in Aje-OML113 ...
Panoro Energy are looking at Tunisia with a view to exploring for oil and gas, where the Norwegian giant DNO ASA (Oslo) with a Mcap of £1.5billion have a big stake.... gives further thought to the theory that they might sell their stake in Aje-OML113 (chickenfeed to DNO and would give them a foothold in Nigeria?) for circa $40-$50 million to concentrate on Tunisia, with payloads emitting from Dussafu (Gabon) in 2019 on an increasing basis.
Their future looks very rosy.

While over at Panoro Energy ... PEN:OSL they are sailing away, leaving MXO in their wake.
Share price is nearly at a yearly high of 14.95 Norwegian Kr. (14.60 at 1pm., up 200% on the year)), they have a FSPO (BW Adolo) en route from Singapore, expected early August and have just successfully drilled their 2nd well at the Dussafu (Gabon) offshore permit.
Seems that Blue Water Offshore make sure that their investment is kept on track and on a tight rein.

MXO need someone to crack the whip and get this shambles of a company up to scratch ... and it is definitely NOT Stefan Olivier, based on his track record here so far....

Come on Stefan.... surprise us for once!

From the eagerly awaited, but disappointing, Annual Report 2017:
Outlook
Now that the Company has received the updated CPR, work is currently underway on modeling the potential for new oil wells in both the Turonian and Cenomanian. At the same time, the partners are in the process of renewing the licence for a further twenty years and these discussions are progressing well. Subject to the outcome of this modeling work and the renewal of the licence, the Company expects to see further development drilling in 2019, with a view to progression to a full-scale oil and gas integrated project thereafter.

Promises, promises.... same old, same old....featuring Stefan Olivier & Nicholas Lee in Wonderland.
In truth and reality .....Pay the directors fortunes and not deliver.
It must be odds-on a cock up on the new licence renewal, given their history.