Member Info for skittish

They got £4M @ 40p on 24th January 2020, which will be followed by a further £2.8M @ 40p on 13th March 2020.

Presumably action could take place around that time.

If people have put money in at 40p, when the shares were below 20p, then they must be confident of getting a good deal in the fullness of time.

Holding tight here.

This don't half move fast - down 8% on minute, the next up 16%!

You've got to be in it to win it!

Our new 24% shareholder Forum Energy Services Limited appears to be owned equally by Paul Forrest and Derek Sipke Brouwer

https://beta.companieshouse.gov.uk/company/09903234/persons-with-significant-control

As has already been pointed out by someone Paul Forrest was until 31st May 2019 Secretary of Forum Energy Limited

https://beta.companieshouse.gov.uk/company/05411224/filing-history

which was just a few weeks before Paul Forrest became sole director of Saltfleetby Energy Limited, commencing on 17th June at which time Saltfleetby Energy Limited was purchased by Forum Energy Services from The Russian Federation.

Saltfleetby Energy limited owns 49% of the PEDL005 licence with Angus Energy plc holding 51%.

There appears no direct link between our 24% shareholder Forum Energy Services Limited and Forum Energy Limited except the said Paul Forrest, but there almost certainly is a link and thus he likely holds his shares in Forum Energy Services Limited on behalf of another, namely Forum Energy Limited.

Until 2015 Forum Energy Limited was listed on the London Stock Exchange

https://www.proactiveinvestors.co.uk/LON:FEP/Forum-Energy-Plc/rns/384045

and delisted due to a territorial dispute between China and the Phillipines which impacted its only major asset - shareholders were paid out.

That territorial dispute may be someway to being resolved

https://www.marketscreener.com/PHILEX-PETROLEUM-CORP-20706553/news/Philex-Petroleum-PXP-awaits-government-move-on-moratorium-over-SC-72-28091942/

"PXP Energy holds a 78.98-percent controlling interest in UK-based Forum Energy Plc., which has a 70-percent stake in SC 72, an oil-and-gas-exploration permit covering the Sampaguita natural-gas prospect in the Reed Bank, to the west of Palawan"

So Forum Energy Limited still holds the SC72 permit which could be reactivated if formal agreement is reached

https://news.abs-cbn.com/business/09/12/19/pxp-energy-shares-jump-on-philippines-china-exploration-hopes

And there does seem to be some progress on aspects of the territorial dispute

https://oilprice.com/Latest-Energy-News/World-News/China-And-The-Philippines-Finally-Agree-To-Cooperate-In-The-South-China-Sea.html

And a few weeks after that meeting Forum made its move on AAOG.

Which may mean that it is the intention of PXP, if the permit is reactivated, to use AAOG as the vehicle for Forum to relist on the LSE.

There will be some dilution, no doubt, and much remains uncertain here, but it appears possible that PXP has decided to use AAOG is its vehicle for Forum Energy in the event that Philippines drilling resumes.

As for Tilapia, Zenith are down almost as much as AAOG today.

ZEN market cap now £7 million, and that is after their recent £1 million raising.

PXP market cap, around £240 million.

I suspect that the wait may not be that long.

Yes to develop the field will take years, but TL has an ever closer relationship with China.

https://www.scmp.com/week-asia/geopolitics/article/3021223/east-timor-wants-tap-oil-and-gas-near-australia-so-why-it

Greater Sunrise has an estimated value of $50 billion - gas reserves of 5.1 trillion cu ft are put at $38 billion with condensate making up the remaining $12 billion.

Greater Chuditch has recoverables of 1.2 - 1.7 trillion cu ft (and possibly up to 3 trillion - as I posted earlier) which would give a value for the gas at around $9 billion to $12 billion - BOIL have 25%.

3 trillion gives a value of $22 billion.

And that is before any proper exploration has actually taken place.

I'm sure there is more going on here than meets the eye - like why was small time Sundagas awarded the licence in the first place?

But the Chinese, and others, but especially the Chinese are likely to be all over this.

Funding is required, but I suspect however that occurs, that is a relatively minor issue.

Many will want in here.

Wouldn't be surprised to see some corporate action.

If I were the Chinese I'd be seeking to put myself in a strong position to negotiate in future.

Market cap £9 million.

So that is 25% of 212Mboe to 290Mboe.

Or 53Mboe to 72.5Mboe.

Worth something.

But it is a while away.

But others may be interested.

Two new companies registered by David Sefton last week

Greencastle Capital Limited

https://beta.companieshouse.gov.uk/company/12434223/officers

owns Greencastle TLE Limited

https://beta.companieshouse.gov.uk/company/12434423/officers

and Greencastle Capital is owned by Linton Capital LLP which in turn is owned by (yes you've guessed it) David Sefton.

None of these appear to be related to Tunisia/Congo/Forum etc (at least not at this stage), DS's co director is Paul O'Donohoe, former Irish Rugby player who is now London Head of International Business at California based Cann Goods which appears to be targeting the Cannabidiol market in Europe.

https://docsend.com/view/6s2wiif

https://canngoods.com/

The interest lies not in the fact that DS appears to have gone into the Whacky Baccy market, but that neither company is registered at 12 Berkeley Street, Mayfair.

You see DS can use other addresses when he wants to, which simply further confirms that Anglo African Oil and Gas plc, and the ATOG companies and Tunisia all appear to be inextricably linked despite all the resignations, shilly shallying, and musical desks at 12 Berkeley Street, Mayfair, London W1J 8DT.

At least they've stopped using our logo, even if they still use our offices and phone number.

https://anglotunisianoilandgas.com/

I suppose they answer the phone "Anglo African Group" - that name is owned by DS also

https://beta.companieshouse.gov.uk/company/11963716/persons-with-significant-control

It is all so depressing - I feel like a spliff now....

And another thing....

Careful examination of earlier images reveals that the work carried out to the northern end of the pad in mid December 2019 wasn't actually at the location of the TLP-103C wellhead, but about 20 metres to the North-West of it.

That location now forms the centre of the 3 legged "spider" presently at the pad.

Which could lead one to the conclusion that preparation was taking place to create a new wellhead location, and that the new "wellhead" will become TLP-104.

https://ibb.co/JkRBvX6

This would perhaps accord with what some on "the other side" have implied - that TLP-103C was too badly damaged to produce from either the Mengo or Djeno.

But all of this predates even Zenith getting involved in matters. So who was paying for that work?

And I can't see Zenith paying for anything until the deal actually goes through (if it ever does) which could be several months away.

So who has paid for all the recent activity?

As everyone else is brassic were left with

New Age "totally cashed up" (African Global Energy) Ltd or
Wing "tooled up" Wah

Wing Wah's rig left location N3 in early January 2020 and the daily satellite photography ceased on 13th January - it was gone well before then. I had thought it had moved to "C" as something large (a blob) appeared to be there in early January, but latest images suggest that it may not be there now. It could of course be anywhere but what if it moved to Tilapia in mid January 2020?

It doesn't appear to be at any of Wing Wah's other pads in the locality, although could have moved back to Wing Wah's Banga Kayo field near Pointe Noire.

If it is lurking at Tilapia then we should know within a few weeks as they'll be rigging up and a "blob" will appear.

And a new double gate arrangement appears to have been installed at Tilapia for security, just before the first kink in the roadway leading from the pad.

0.375p? Market Cap £1.3M?

We certainly live in interesting times.

itisagame,

I am 'surprised' by your knowledge of the location of Tilapia.

Loandjili isn't even mentioned anywhere in the prospectus, and you would almost think that you would have to have visited the place to even know that it existed.

Do you think anyone is likely to respond to your advertisement?

I don't trust SC to give out accurate information.

I'm not even sure she knows fully what is going on.

Oilman Jim seems to think she is not in control - but others are - and that is borne out to an extent by Companies House.

Maybe someone on here can drop us a hint?

Long suffering shareholders here may remember the 12th November 2019 RNS (prior to the "we have run out of money RNS") which stated

AAOG, "is pleased to announce that it has entered into a rig option agreement (the "Rig Agreement") with Société de Forage Pétroliers ("SFP") for the provision of a rig. The SFP #1 Rig (the "Rig") is the subject of contractual commitments to a super-major which will expire on 30 December 2019."

A relatively clear view of Tilapia was obtained around 8.20 this morning, and it looks like this -

https://ibb.co/N7R2VWW

For comparison this is 8th November 2019

https://ibb.co/Qbm8Z6P

There appears to be a large amount of equipment on the pad which was not there 3 months ago.

The items shaped like an "H" or "U", immediately to the NW of the tank made their appearance in early/mid December 2019.

There was disturbance to the north end of the pad in early January 2020, followed over the last couple of weeks by the appearance of a "spider" with 3 SE pointing legs at the N end of the pad over the last two weeks.

The centre of the spider does not appear to be over the TLP-103C wellhead but located around 20 metres north west of the TLP-103C wellhead site at the far end of the pad. Equipment also appears to have been moved to locations between the "H" and the "spider" and also next to the old flare location and at the S end of the pad.

It appears that there is no rig present at the moment, as that would have a more "blob" like appearance rather than the diffuse spider shape at present, but there is the possibility that preparations are being made for a rig and that a rig may make its appearance within the next few weeks.

This is what it looks like when a rig is present, taken 24th January 2019, when drilling TLP-103C

https://ibb.co/MfyPGHZ

And for completeness a high resolution image taken a few weeks earlier on 31st December 2018 showing the TLP-103C location.

https://ibb.co/h7MWy4z

The latest images suggest that there is significant activity at Tilapia, and of course shareholders have not been told.

Question is, at whose behest is the activity taking place.

Anglo "no cash" African?
Zenith "almost no cash" Energy?
Société Nationale des Pétroles "totally brassic" du Congo?
New Age "totally cashed up" (African Global Energy) Ltd

One can speculate, and also speculate on why we are not being told anything.

And just to show that I am not imagining things this is a pad built by African Oil and Gas over the last 6 months at Pointe Indienne 10km S from Tilapia photographed today, showing a similar spider type shape, in preparation for the appearance of a rig.

https://ibb.co/RSw04kM

And again in December 2019, whilst under construction -

https://ibb.co/pKWMn3Q

Maybe "Captain" Berwick "found" his SFP #1 rig after all?

And as Anglo and the "Tunisia Two" are still all in the same office, maybe they are billing Anglo for "advice and assistance?"

The issue of 12,222,242 shares today at 0.375p raised exactly £45,833.40 which is around one weeks' present running expenses for the company.

What was the point?

Well so far as the company and it's shareholders are concerned there was really no point. But then with this board there is really no point to anything they do, as they have managed to destroy 97% of shareholder value in just the last 12 months.

The shares issued amount to 2.99% of the shares in issue - hence we'll never get an RNS, and so unless further shares are bought never find out who has bought these.

Presumably the amount raised is arbitrary, simply the maximum that can be raised at 0.375p, without triggering a holding RNS. And the holder cannot be an existing shareholder as that would trigger an RNS.

So the share issue is entirely contrived - simply to allow someone to buy 2.99% of the company - the maximum to two decimal places - at the cheapest possible price without telling anyone who it is.

So, this share issue is to benefit the new shareholder and no one else.

So who could that be?

Well Oilman Jim believes that control of the company has never actually changed, notwithstanding all the resignations and registrations at Companies House. This is really confirmed by the fact that all the ATOG and Tunisian companies continue to operate out of 12 Berkeley Street, Mayfair - even the one created yesterday. And someone on the "other side" suggests that SC doesn't have much of a clue what is going on - she is simply told what to do and when.

Which may well lead one to the conclusion that our new 2.99% shareholders is..........

It can't be can it?

When he never bought shares when he was Chairman?

Not....not....DS? (stutters slightly and coughs and splutters)

What do you think itisagame?

(not Papa please - he can't spell)

It is actually 2.99 percent

Maybe we are not as broke as the board say we are. The shares crashed 75% in the two days after the "no money" RNS. They've never recovered.

Thus allowing Forum to pick up 24% of the company for barely £400K. It would have cost them around £2M+ a few weeks earlier.

Who exactly is paying for the activity at Tilapia? The deal isn't yet approved and there is no certainty that it will be - they can't even get a £250K loan sorted out.

Why are Forum/Zenith/AM-Align/DS all manoeuvering about over what should be just almost worthless scraps?

irishmouse - in my more feverish moments I sometime think that there are very few genuine pi posters on here, but that you are one of the few.

What is going on I don't know - why should Forum be so interested in taking a 24% stake, when it looks like they have a good asset in any event, most companies would run a mile; what are Zenith up to, the "deal" has run into difficulties already; have Align/MacDonald given up, or just biding their time; what is happening at the pad?

Why should any of Forum, Zenith, AM/Align be so interested in us as to scrap - but at the same time the shares are almost worthless.

Why does DS still haunt us here when he obviously is the ultimate owner of the Tunisian assets? You would have thought he would have had enough of Anglo.

So many questions, so few answers.

Contrast these images of Tilapia taken over recent weeks.

This is a comparison of 3rd December 2019 with 28th December 2019 and 13th January 2020 showing that some equipment appears to have arrived at the pad and some disturbance had taken place around the 103C wellhead.

https://ibb.co/9p5jhQ4

That remained the position on 17th January 2020 -

https://ibb.co/q0v90nr

This is two days ago 27th January 2020

https://ibb.co/bBLR8nh

Even allowing for different lighting conditions there appears to have been a marked change in the appearance of the pad, with a number of dark "blobs" appearing suggesting some sort of equipment has arrived.

This is yesterday, 28th January 2020, slightly less contrast, but again suggesting that there is some sort of equipment surrounding the wellhead area.

https://ibb.co/JjxBVBY

Hopefully we may get a clearer view within the next couple of weeks.

Operational matters? But then itisagame thinks that it is all a game.

And while I'm at it - if anyone can forget - today is the first anniversary of Anglo's Djeno oil "discovery" at Tilapia - 29th January 2019.

Oh! How the band plays, the trumpets sound, the angels sing - what a wonderful time was that!

As DS's "relative" Quick Study posted at the time "The drinks are on me, David"

One year on and the shares have lost 97% of their value.

I suspect that Quick Study's military career, in the Fleet Air Arm, was no more genuine than that of "Captain" James "thick as mince" Berwick.

But you live and learn.

No doubt we will learn sometime who is behind Forum Energy Services Limited, and why they are so interested in AAOG, which is a company with an awful lot of baggage, so there must be something there which makes it more interesting than a plain old unencumbered shell.

And yes, Zenith appear to be as dodgy as any of them, so maybe they and DS/JB are perfectly suited.

Also interesting that a new CPR should be available in Q1 2020 concerning the Saltfleetby field now 49% owned by our new major shareholder Forum Energy Services Limited.

https://www.lse.co.uk/rns/ANGS/oga-approvals-received-regarding-saltfleetby-wpbbeck7pdsel16.html

Nice shiny CPR, £12 million in the bank, 49% of a soon to be producing field and 24% of the shares in AAOG.

Which still, at present, owns 56% of Tilapia.

What's not to like about that?

And if Zenith's share price keeps falling as it is, Anglo will soon be worth more than them.

I don't pretend to know where all this ends but Forum's nice shiny CPR should be available just prior to Anglo's money running out.

And Paul Forrest of Forum Energy Services Limited - small time accountant, nothing at all on the internet - more Forrest Gump than anyone of significance - so who are the big hitters who hide behind him and who can get UK government approval to take on a UK gas field and deal directly with Gazprom?

Unfortunately, we live in interesting times.

It is a tangled web.

But starting at the top the ownership structure concerning the Tunisian assets appears to be as follows

David Graeme Fennick Sefton of 12 Berkeley Street, Mayfair

https://beta.companieshouse.gov.uk/company/12270869/persons-with-significant-control

owns 75% + of the shares in

ATOG Midco Limited - Directors A J Berwick, J M Taylor, H Pingray all of 12 Berkeley Street, Mayfair

https://beta.companieshouse.gov.uk/company/12270869/officers

https://beta.companieshouse.gov.uk/company/11899484/persons-with-significant-control

which in turn owns 75% + of the shares in

Anglo Tunisian Oil and Gas Limited - Directors A J Berwick and J M Taylor 12 Berkeley Street

which in turn owns all the shares in (125,134,652)

ATOG Petroleum Limited a BVI registered company - Directors unknown - but which from the Charge document obviously is the actual owner of the Tunisian oil and gas assets

which shares are now charged to Trafigura Pte Ltd in repayment of the purchase monies

https://beta.companieshouse.gov.uk/company/11899484/filing-history

and also all the shares in the newly set up company Anglo Tunisian Energy Limited

https://beta.companieshouse.gov.uk/company/12431869/persons-with-significant-control

Essentially 75%+ of the ownership of the Tunisian assets leads directly back to David Sefton, albeit by a rather circuitous route.

Yet in The Times article

"Chairman quits over African oil group ‘rumour"

https://www.thetimes.co.uk/article/chairman-quits-over-african-oil-group-rumour-fb0dfgp30

(although it doesn't actually say what the rumour is)

the following exchange took place in the comments section -

Sally Curran
"David Sefton’s ‘work’ on AAOG is a scandal, it’s people like this who give AIM a bad name. He’s sold AAOG down the river, and miraculously a new company (ATOG), that he owns, seems set to benefit. AAOG Shareholders have been left high and dry with huge loses."

Reply Davd Sefton
"Just to clarify, i do not own any ofATOG. It is owned by James Berwick (recent CEO) and his colleagues. Please don’t repeat rumour as fact."

Reply Sally Curran
"Apologies David: it had slipped my mind that you set up ATOG (same address as AAOG), then resigned in November, leaving JB in charge (who was running AAOG, then resigned to focus on ATOG). Silly me."

Reply Sally Curran
"Actually David: are you able to explain your association with ATOG, between you founding the business on 22nd March ‘19 and resigning as a Director on 15th November ‘19, during most of which time you (and James Berwick) were supposed to be running AAOG?"

David Sefton actually denied owning any of ATOG - which Companies House shows is completely untrue.

He has tried to distance himself from all the companies, yet the trail leads directly to him.

And 12 Berkeley Street must be really busy as they are all operating out of AAOG's offices.

Continued/.......

Continued/....

Which is really odd as all of DS, JB etc have "resigned" and left the company.

Maybe they have just moved desks.

In fact I do not believe they have even done that.

And that is why it still costs £180,000 per month to run this company.

Clearly SC is simply a mouthpiece for DS still.

And Oilman Jim doesn't seem to think that control of AAOG has actually changed - but the same person is still in charge as was always the case -

(No guesses as to who that is - but his appointed directors SC, JC and PB cannot be shoe-horned out of the company by any known means)

Oilman Jim says -

"This (AAOG) is a highly questionable company (and I doubt the real control parties have actually changed) but with a new deal in, which seems a strong possibility, it could be back in business"

https://www.share-talk.com/oil-man-jim-company-oil-gas-podcast-mid-week-blog-29th-january-2019/

which could raise the possibility that the Zenith deal is indeed just a ruse, pending a Forum Energy Services Limited takeover - and we still have no idea who is actually behind that company, merely that it appears to have £12 million sitting in its bank account, a front man accountant no one has ever heard of in charge, and with its partner, Angus Energy as operator, is about to start producing copious amounts of North Sea gas by summer.

And yes, you know who, is still trolling on here.

Curious99

Doodglebug6125

Angela6611

Papa9911

Does anyone else see a pattern in this Seftonesque nonsense?