Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
On earth did FRI get their hans on their Oman asset? Looks like any potential farm out will be one hell of a deal...the MCAP of sub £3 million is a joke! http://www.gulfoilandgas.com/webpro1/unconventional/oil-gas-project.asp?id=100967
My Mates are just holding this back so I can buy in...then this will get to 4p by next Friday! Lol!! Seriously though this could soar on some decent volume...just call 999 and ask for the P&D brigade, if they turn up then 7p will be on the cards!!
It was definitely a BUY from earlier this morning...looks like interest is picking up and liquidity...was initially worried about this but I think I will get in tomorrow...this share has a lot of potential...from what I've found this could easily multibag on a single positive RNS...this should be at least 4p IMO...feel sorry for holders who have been here since 6p+ but I think the tide is definitely turning here!
Like how this company actually pre-warned shareholders of Friday's placing on Thursday...wish all AIM companies did that...the more I read, the more I'm starting to like about this company...will try freeing up some funds on Monday to buy in...would do well if I can get in sub 1.8 :)
HSBC and Standard Chartered could be dragged into a multi-billion dollar dispute between warring Saudi factions after the banks were forced to hand over thousands of potentially incriminating documents. A court in New York ordered the two British banks together with Citi and Bank of America to disclose confidential client documents, over-ruling pleadings that the evidence could be used against them. The documents relate to bank accounts held by Maan Al-Sanea, the Saudi billionaire being pursued for billions of dollars he is alleged to have stolen. Mr Al-Sanea is facing criminal and civil proceedings relating to billions of dollars allegedly defrauded from his wife's family the Algosaibis. Cases are currently being pursued in London, Bahrain, the Cayman Islands and Switzerland. The potential for claims against the four banks that handled over $1trillion of Algosaibi money was revealed in a court transcript obtained by The Daily Telegraph. The four banks argued the release of documents to the Algosaibis could be used as a "Trojan Horse" to bring cases against them. In the worst possible outcome for the banks the argument was rejected by the judge who then acknowledged their potential liability. "I have never fully seen the force… of the Trojan Horse argument," said Honourable Jed Rakoff. "If it [the information] is genuinely relevant abroad, he [Algosaibi] gets it even if it hurts you, for lack of a better word. And if it's not relevant abroad, he doesn't get it." The Judge also acknowledged there could be a question mark over whether the banks had taken "reasonable steps to ascertain who their customer was." As such he admitted there could be a "potential liability". The ruling will be particularly embarrassing for HSBC which is understood to have handled the largest share of the $1trillion under question. As well as operating accounts for two of Mr Al-Sanea's companies, the bank's US arm loaned him millions of dollars and looked after his personal banking. Mr Al-Sanea was also a significant presence on the HSBC share register at one point owning over 3pc of the bank. The dispute between Al-Sanea and the Algosaibis is one of the largest fraud cases ever to hit the courts. It concerns allegations that Mr Al-Sanea took control of the Algosaibis' business empire AHAB and siphoned off billions of pounds. The huge losses built up under Mr Al-Sanea's control led to the near collapse of the AHAB Group after the financial crisis hit in 2008. As well as facing criminal proceedings, Mr Al-Sanea is facing a $10bn claim brought by the Algosaibis. In turn the family is being pursued for billions of dollars by the banks that lost out when loans failed. All four banks declined to comment.