Member Info for ldlv

who is funding the Bare Boat Charter and Operational and Maintenance for the Installations leased to Okoro and Ebok Oil Fields? Payees being Bumi Armada and Mercator? Interesting question for the Administrators, they have statuary duties and they need to work with ALL stakeholders. Afrenlegalaction Yahoo Com

This will have long-term ramifications for the reputation of London market besides being a life changing tragedy for many hundreds of retail investors and their families. The destruction of this FTSE 250 company in a matter of a few months is the folly of breathtaking fraud at the expense of its shareholders. afrenlegalaction yahoo com

There is a broader picture here where vulture funds are targeting London listed companies with a large retail investor base by picking up the debt on the secondary market for a fraction of the face value. Subsequently, certain advisors are brought in the name of restructuring which practically means a destruction in share price, huge and disproportionate write-downs, shareholder wipe out and a transfer of assets to debt-holders through administration or a scheme of arrangement.

we do not believe that the BOD did in fact explore all funding opportunities available to them over the last months, and that they were fixated solely on the over-complex bondholder recapitalisation offer which essentially cut shareholders out of the company’s future.

we are expecting AlixPartners to be transparent & inclusive of shareholders, and to work towards putting this company back onto its feet for the benefit of ALL stakeholders and not only creditors, who have thus far been both inflexible and downright greedy with their demands - as evidenced by the strong shareholder stand against the recapitalisation.

Since inception the Recap has threatened shareholders with little or nothing, and going into administration just looks like the latest attempt to achieve that disenfranchisement.

we are not happy with the secrecy surrounding the Seplat offer & BOD's rejection of it, nor with their explanation as to why it was a non-starter. deadline this week

We have indications of a deliberate and sustained effort of destroying shareholder value in the company over the last twelve months; why? to get assets of the cheap? To make a fire sale? Ultimate beneficiary we are waiting...

may be pointing to the suspicious and highly questionable write-down of the Barda Rash asset in the Kurdistan region of Iraq; we discussed this many times

We got an information from a person close to the company that some of the directors placed in Nigeria are trying to red circle First Hydrocarbon Nigeria (FHN) a wholly owned Afren company and its assets in West Africa and other places around the world. We must pay particular attention to any intended sale of that company as a whole and ensure that won't happen or we will ask for responsibilities. Word is they are trying to get it for next to nothing.

Conflicts of interest and concerns regarding non-independence of Afren board.

We are extremely concerned that they seem to have little experience of the oil and gas sector has been brought in for a flash sale of assets. We let them know

http://www.fhnigeria.com/assets/ The Administrators have a statutory duty to investigate and report on the reasons for the Company’s insolvency and the conduct of the Company’s directors. So they shouldn't anticipate anything else until they FINISH the investigations and report. We are demanding to the administrators an official response in regards the Sunday Times article that talks about fire sales of assets After the Simon Hawkins confession the FCA was made aware, as the SEC too by a US Colonel that is a member of our team.

We are in the media again, we won't give up. http://www.lse.co.uk/AllNews.asp?code=aus017hb&headline=UPDATE_Afren_Exits_London_Stock_Exchange_As_Shares_Are_Delisted afrenlegalaction yahoo com

as in most administration procedures, shareholders should be entitled to be a part of the administration, too make sure that no more underhanded behaviour or crimes can be committed by members of Afren. Hopefully soon the SFO will announce their official investigation into all the past and present staff and BOD and bondholders, who IMO played a big part in where we are today. Its already going on at QPP and IMHO the crimes committed by Afren personnel are far more heinous than that of QPP. To name but a few things, the deliberate failure of the payments to deliberately incur a default, the deliberate negative RNS's re their other assets, especially Kurdistan, the deliberate rejection of Seplats offer, even though Seplat stated it was the only hope of value for shareholders....................... I could go on but I guess the genuine investors here know the rest, and their is plenty for a judge to get his teeth in here and hopefully former and current members of Afren will do a bit of porridge at the same time. Lets face it, a FTSE250 company cannot go from 160p to 1.6p in less than 6mths without some form of insider knowledge or manipulation. Good luck all genuine investors here and you never know, it may swing in our favour once the administration process gets underway.......... 3D

From a brief look at pag 51 of http://www.fca.org.uk/static/documents/handbook-releases/ukla-release136.pdf normally they would have to have approval from 75% of shareholders to cancel the listing, but there is an exception as follows; However, we don't see how it's possible for the Administrators to have established the conditions in (1) seeing as they've only been on the job for 1 week. And the 20 day rule still applies, so this must have been initiated by Alan Linn & Co.?? Ant takers?

too many questions to ask!

Simon Hawkins yesterday: "Broadsided - getting a call from our interim CEO to say we need to write off 1bln barrels from our Kurdistan assets, after having been told only a few months earlier by previous management that we were about to sell them for $1.2bn. Like we hadn’t been dealt enough blows."

is this week...no more comments. what is going on here is just crazy! afrenlegalaction yahoo com

we will never give up, what is wrong is wrong....this is an scandal afrelnegalaction yahoo com