Member Info for skittish

On the face of it the off book sells at 70p would not necessarily bode well.

However if you add up the 5 trades listed on LSE they come to exactly £1M and those trades took place on 16th April 2020.

We don't know who sold those - but on that same day Peter Antonini (who is/was a 5.47% shareholder in ASLR) bought 100,000,000 shares in AAA at 1p - total value exactly £1M via his 192 Pte Ltd vehicle.

AAA in turn has a shares and options in ASLR.

It isn't beyond the bounds of reason to suggest that Peter Antonini sold/swapped £1M shares in ASLR for the equivalent value of shares in offshore vehicle AAA, whose major asset is its stake in ASLR.

Subsequent to that he has thrown a spanner in the works concerning a further fund raise by AAA (supported by Chris Ackers) which was to be at 1p and 1/3 warrants at 1p - by offering to pay 1.5p for the shares and have warrants at 2p!

If you read back through the posts I did highlight this some time ago.

Now I don't pretend to know what is going on because you only get glimpses of the behind the scenes movements, but if ASLR is a complete pup then why put money in in the first place just before suspension, and then seek to pay 50%/100% more than Chris Ackers for an interest in AAA whose main asset is shares in ASLR?

AAA is "considering" his proposal.

And I guess Peter Antonini is no slouch when it comes to financing because he is a Senior Teaching Fellow at UCL and wrote "Economics for Dummies", "Macroeconomics for Dummies" and "Microeconomics for Dummies".

So I would think he knows what he is doing in seeking to build a stakes in ASLR and AAA.

More so than me, anyway.

Just to make absolutely sure ZEN have RNS'd completion of the Tilapia deal twice one at 11.20 and one just now.

Come on AAOG - get yours out and we might hit 0.5p!

irishmouse - let us all hope so.

Hopefully confirmatory RNS today from AAOG and we might end in the .30's.

With a couple more decent directors on board, who have a bit of solid history behind them, and we might be going places.

It is now all up to Paul Forrest and Forum Energy Services Limited - still, even now, an unknown quantity really - but they have got to be a cut above the shower that have been running the show for the last couple of years.

One thing we do know - they can keep their traps shut.

ATB.

Zenith RNS 11.20 says deal completed - ie payment made.

Maybe AAOG are awaiting receipt before RNSing.

Hence 1M buy at 11.23.

Slightly perplexed why they should do an important RNS at 5.00pm yesterday.

Market closed, many switched off.

Chance of another important RNS later today?

Reasonably significant, I'd say.

I don't know what Sentiance is worth because no one outside a fairly tight circle is privy to that information.

As to MESH and ASLR completing - I don't think so. I think they are working to the same end - listing Sentiance - although their interests may not always be exactly aligned.

Consider this.

John Edward Taylor was appointed a director of Asimilar (then Yolo) on 3rd December 2019 just after Chris Ackers took an interest and the share price started to take off.

Lindsay Mair was appointed a director of MESH Holdings on 20th January 2020 .

But somewhat earlier than that both John Taylor and Lindsay Mair created and were appointed directors of a company known as Low 6 Security Trustee Limited on 22nd November 2019.

https://beta.companieshouse.gov.uk/company/12328115/officers

Quite why they should do this I'm not sure - I am sure there is a reason and a plan - but there are certainly links between the two companies suggesting they are working in tandem. And owning 50% each of a joint company suggests JT and EM are working together not against each other.

I don't doubt that raising £30m a piece is something of a tall order in present circumstances, however there have been numerous fundraisings by many companies in recent weeks. It is simply a question of terms.

My main concern presently is not the funding per se but that time is limited.

Price action is interesting.

Is it just bottom feeders or something more fundamental.

I'd expected it to go up until the time of the EGM - 12 noon and then flatten.

Maybe still as leaky as ever it was.

Looks like we'll get our £200k later today.

Provided AC 's chequebook isn't made of rubber.

Next steps......

1. Lolly

2. Cope and whatsisname (can't even remember) - El Booto and gone forever.

3. New directors - maybe Paul Forrest himself

4. RTO and new asset - all is revealed.

The £12M is held by Saltfleetby Energy Limited, which was called Wingas and owned by Gazprom.

They received £15M cash from Gazprom when Gazprom sold the Saltfleetby asset - this sum was equivalent to the decommissioning cost of the field which was non operational at that time.

They gave £3M and 51% of the field to Angus Energy with the option of either abandoning it or recommissioning - the costs of each were roughly the same. Angus have decided to recommission and it should be in production by Q4 2020.

Forum Energy Services Limited (FESL) now owns 25% of AAOG plc (via a £500K cash injection) and also 100% of Saltfleetby Energy Limited. FESL has assets of around £100K but ultimately it controls the £12M.

Paul Forrest appears to be the sole officer of both Forum Energy Services Limited and Saltfleetby Energy Limited.

Officially he owns FESL, but almost certainly he is holding that interest on behalf of others who are unknown to us at present.

And he is still working for Forum Energy Limited, which used to be listed on the LSE has O&G assets in the Far East and is owned by PXP, a decent sized Filipino outfit but crucially FEL has no legal link (that we know of) to FESL.

Add to the mix that neither of our two new directors appear to have an O&G background and the result is none of these clues leads in any definitive direction.

Drum roll for our prospectus........

All previous GM's have been held at 12 Berkeley Street, London which has always been the offices of Anglo African Oil and Gas and more recently Sefton and Berwick's bastardised companies such as Anglo Tunisian Oil and Gas and the ATOG's etc.

Today's GM uniquely, is being held at 32 Grosvenor Gardens, London which happens to be the registered office of Forum Energy Services Limited.

Nice to see some clear water being placed between us and the corrupt lackeys who ruined Tilapia and stole Tunisia.

It is also a clear indication of the direction of travel as we appear to be bedding down (at least figuratively and maybe indeed, literally) with Forum Energy Services Limited.

Interesting bearing in mind our two new directors do not appear to be directly associated with them, but clearly are associated in some manner with Paul Forrest.

I suspect that we will not remain an AIM shell for very long, and I hope AC has his chequebook at the ready.

Nice little tick up this morning, hopefully will be up a bit more after the EGM.

We should get some definite news by the end of June.

MESH need to hold an AGM by then and their options in Sentiance are only valid from 23rd March to 30th June 2020. So they will either expire or be extended.

Both MESH and ASLR need to raise quite a bit to be able to exercise their respective options, both around the £30 million mark to exercise all of them.

ALSR announced a conditional raise of £7.5m in March, but nothing since.

The recent AAA news on funding suggests the deal is still going ahead, otherwise there would be no point in fighting over it.

I guess COVID may be delaying matters, but everything I read suggests that tech will be one of the eventual big winners from the COVID situation which will accelerate existing trends.

Fingers crossed.

Yes, I agree that Forum Energy Services Limited (FESL) or their associates are likely to either inject cash or assets, maybe some of both.

But if they were to inject either, they (or the shareholders they represent) would likely want full value for their investment.

So, they would bring the cash/assets to the table, AAOG would bring the listed shell and tax losses. So it wouldn't be a simple case that AAOG suddenly has £12M in cash in its coffers - FESL (or their shareholders, who are unknown at present) would want paying for that cash in shares. AAOG already has the authority to issue loads more shares from the last AGM.

So if AAOG get a good deal, then I can see that being reflected in the share price, and we would then have a future to look forward to.

And FESL's accounts actually show that at 31st May 2019 they had around £100K in assets.

It is their wholly owned subsidiary Saltfleetby Energy Limited (SEL) which has the £12M cash and 49% of the Saltfleetby gas field.

And Forum Energy Limited (FEL) for whom FESL CEO Paul Forrest still works recently raised £2M, and owns Philippine O&G Assets.

So maybe (likely) there is something we don't know about whereby the shareholders of "X" will inject an asset, maybe FESL or FEL will inject cash, AAOG injects the listing and tax losses and the whole shebang trundles off into a glorious future.

One thing I'm sure of is that FESL will want a decent return on their main investment in AAOG which was made at 0.5p.

I have a hunch we'll find out before the Bank Holiday.

Here's hoping.

I believe "Moving Out" launched today.

I guess after the big sale a retrace to 575p was inevitable.

At least we got it all over in one day - here's hoping.

Onwards and upwards from here on in!

Oh, the £200k is just a token.

It is the listing and the £30m tax losses (courtesy Sefton Management Inc) which are important.

And whatever Forum brings to the table.

I think the most interesting part of the RNS is what it doesn't say.

This bit - " In addition, Novacyt has signed manufacturing partnership agreements with two further contract manufacturers based in the UK"

This is what will enable them to go to 8+ million kits per month.

Why no names? Why so coy when manufacturers names have been disclosed previously? All the previous partnerships have been with fairly small companies.

On 22nd April 2020 Chartwell Consulting said

"With manufacturing partnerships now signed with a number of large pharmaceutical firms, Novacyt will continue to scale up its production of test kits"

So taken together the two new unnamed contract manufacturers are UK based large pharma.

To me that can only mean GSK and AZN.

There are no other UK based large pharma companies.

I suspect that by mid summer there will be many more than 8+ million kits being produced.

Our latest EGM will be on 4th May 2020 - which is just 3 working days hence.

We should be paid £200K for Tilapia the following day, 5th May 2020.

In the last month or so ZEN has received several significant payments into its accounts, so the £200k should be readily available. Hopefully payment will not be made in PPE or hand sanitiser.

Forum Energy Services Limited and its CEO Paul Forrest have been very tight lipped about what is in store for the AAOG shell after 5th May 2020.

Minerals or oil, or even something else? It appears that no one knows outside of Forums tight circle.

In a way this is a welcome change from all the fire and light we received from Sefton, Berwick, Cane et al. Which actually turned into a pantomime of ridiculous proportions and impoverished shareholders.

And we all know who the two Ugly Sisters were.

I'm hoping on 6th May 2020 Forum will reveal their hand.

Hopefully Sarah Cope and Phil Beck will be gone, and that will be the last of the endless Seftonesque nonsense that we will ever see.

At least one new director appointed, maybe Paul Forrest himself as FD. Forum Energy Services Limited will then disclose their plans, who is backing them, the reason they have bought 25% of AAOG and their use for the main market listed shell.

Related to Forum Energy Limited and their recently raised £2M?

To Saltfleetby Energy Limited and the £12M in their bank account?

Or a curve ball sending us off in a completely new direction?

Whatever happens it will be a new beginning, with people in control who are not simply hell bent on shafting shareholders as Forum Energy Services own interests will be aligned with the interests of the remaining 75% of shareholders.

Roll on next week.

Intraday reversal - strong signal of continued upwards movement.

Not missed boat at all - COVID19 is like the Titanic - they need all the lifeboats they can get hold of.

Observe price action today.

GDR looking very perky pre market this morning.

Not just a pi........

https://www.linkedin.com/in/richard-sneller-46442434/?originalSubdomain=uk