I’ve been sat on some of this information for quite some time, as a matter of fact since 21st April 2018. Now remember that date, (which I’ll explain later down the thread). I’ve been waiting for a big enough example of the disgraceful, wholesale lies and fraud perpetuated by the main ‘players’ to appear and yesterday’s Nostra Terra Oil & Gas (LON: NTOG) so called ‘MM short’ that has been pumped out over the twitter and BB sphere now gives me the easiest example of the many failed Pump & Dump attempts this lot have perpetuated (not only on NTOG) on the gullible investors/traders, that can be duped into swallowing the utter ‘horsepox’ the band of not so ‘Merry Men’ perpetually scream online.
Yesterday and no doubt today, which isn’t the first and won’t be the last, there were five accounts on twitter and various accounts on London South East & ADVFN, pushing yet another Nostra Terra Oil & Gas SP manipulation. Come on down the ex-Vox booted director David (pay me, I’ll Ramp 4U) Burton, ably assisted by his ‘Clowns’ Ben Turney, Alex McKinley & Mikey Whitlow and last, but not least the NTOG shorting CEO, proven Liar and bullshitter Matt ‘scumbag’ Lofgran. All five are on twitter and four of the named individuals have separate platforms that blast out utter spurious guff, masquerading, as financial AIM market commentary 24 seven.
Apparently, according to ALL of the above, including the CEO of Nostra there’s a Market Maker (MM) short of stock in NTOG, inferring a ‘short squeeze’. One may ask how all 5 of these chaps came to that CONclusion? Bearing in mind that there’s absolutely no truth whatsoever to this unsubstantiated claim. Just quite what a CEO is doing on twitter stating such nonsense breaks every AIM rule in the book on sensitive financial disclosures…
Well let me tell you. On the 21st April 2018 the day of the UK Investor Show, four of the above met in a public house (Mr Burton, Mr McKinley, Mr Whitlow & Mr Turney) where they agreed, among other things, to form a ‘mutual self-help society‘ i.e. they made a pact and conspired to ‘Promote’ each other’s tweets and blogs/articles/podcasts. Sources who witnessed it also tell me that they believed they could become a force greater than ShareProphets. The deluded ‘Wannabees‘ thought they were going to take over the world of micro-‘crap’ info……
The terms of said ‘Clown Pact’ were/are to retweet and back up each other’s tweets/blogs/news/articles/podcasts. If you check all four twit timelines, (Deletions galore post this blog) you’ll notice an unhealthy correlation between ALL four accounts when it comes to certain stocks. Take for instance Nostra Terra Oil & Gas the piss poor microcap that cannot self-sustain without continually raising cash. It has to duck & dive via placings, warrant sales, it’s in debt up to its eyeballs, mired in legal disputes ad infinitum and has piss poor stripper well fields, which are touted as ‘company makers’. (Stripper well fields contain wells deemed economically at the end of their productive life and require constant cash burning workovers to slurp up the remaining dregs of oil left. Such wells produce a few barrels of oil per day, at best, then require shut-in for workovers etc.).
The economics of stripper well production when combined with the cash burn of an AIM listed company to flesh out the ‘Jackanory’ has one purpose and that is to fool the mugs into trading the stock to increase the liquidity so that the company can place and keep the balls in the air. ‘Balls’ being the fat fees those running the show take! Those that assist with the bogus promotion often trade into the rises and some like Turney & Burton and no doubt the others get paid or have been paid by the CONpanys. It’s nothing short of a scam.
The history of Lofgran is one of total failure and scurrilous lies. There is no short squeeze here. No Market Maker desperate for stock to close a short. It is sheer fantasy to enable, nay manipulate, the SP upwards for the yet again Placing that is inevitable. The shorting Shyster has been running around the City gauging the appetite for a Placing. Hence the continual ramptastic horseshit of the Band of not so ‘Merry Men’.
The Gang of four will no doubt deny it, however using NTOG as the example just check how many tweets, blogs, articles and podcasts there’s been on this POS from the ‘Merry’ men that’s been cross pollinated between themselves. Of course it could all be just a coincidence….. Sadly, the form book on other stocks they’ve all been cross-pollinating and ramping kills that Trumpian defence stone dead. As does their ‘Meeting’ in the boozer at the UK Investor Show on the 21st April 2018. Witnessed and 100% correct!
The ringmaster of this ‘circus of lies?’ David Burton of Tell Mugs Shite (TMS). The sad clowns perform for a few shekels…… Oh, what a wicked web we weave when we practice to…… Tell Mugs Shite!
Now not a lot of people knew this, but they do now!
Just when Nostra Terra share holders think that it can’t get any worse it does. Today I expose what must be one of the most disgraceful and deceitful episodes in the history of the Alternative Investment Market and the codes of practice that CEO’s should adhere to and what the AIM regulators are there to enforce.
It is quite frankly an absolute fucking disgrace. It ranks as yet another low point in the history of the Nostra Terra shorting CEO and bare-faced liar Matt Lofgran. I take no pleasure whatsoever in exposing these ‘practices’ and do so solely as a warning to all those currently holding or looking to buy stock in this POS. If you are a Nostra Terra Share holder then you need to contact the company and the Nomad and the AIM regulation team and seek answers.
Documentation forwarded to this site has now been proven to be genuine.
Secret Cash Payments.
The CEO of Nostra Terra Oil and gas has been making ‘Secret Cash Payments’ of possibly tens of thousands of pounds to a well known internet scumbag to attack his own share-holders who had formed a share-holder action group, and to ramp his company via social media. This is wholesale market abuse and the AIM regulator now needs to step in and clarify exactly what has gone on here. The scumbag in question is Matthew Benjamin Turney, aka Ben Turney.
Emails seen by this site provide compelling evidence that thousands of pounds maybe tens of thousands of pounds have been filtered out of Nostra Terra to Turney. Those emails are emails from Matt Lofgran condemned by his own words. Copy’s are below for all to read.
Lofgran was suckered into making those admissions via a fake Ben Turney email address. The emails were forwarded to me. It has taken a long time to prove their authenticity. Which is 100% now proven.
Drug Dealer Took Cash to Ramp & Attack NTOG Shareholders
Lofgran admits that he has told no one but may have told the nomad. That Nomad has since parted ways, as the time of the Faustian Pact’ was way back in 2015. Lofgran also goes on to state that there’s no paperwork on the secret payments to Turney. “I don’t think we even have a consultancy agreement in place” four minutes later he confesses “By the way, never told anyone any amount”.
Questions now need to be answered and answered openly. The inference from those admissions is that the Board of Directors have been kept in the dark regarding secret cash payments to a well known failed businessman, self styled Private Investigator and former legal highs (Illegal Now) drug dealer, a man who chuckles at selling poisonous chemicals to teenagers, chemicals deemed unfit for human consumption and now punishable by up to 10 years imprisonment. When was this pact entered into? How much has been paid? How was it paid? Did Lofgran pay it personally? Did Lofgran use share holder money? Are there any ‘other such ‘pacts’ with other people? Why was there no paperwork? Why was the BOD kept ignorant? Are payments still being made? These are but a small selection of valid questions that must be answered. Make no mistake these are breaches of FCA guidelines and regulations. Lofgran needs to answer!You can read them HERE
Turney has openly attacked the share holder action group on bulletin Boards, his twitter feed is a litany of NTOG ramptasic horse shite. Paid promotion on behalf of the company. He has consistently promoted NTOG yet he has failed to declare that he has been receiving thousands of pounds of cash from the company. That itself is an abuse. Let alone Lofgran’s corporate failure to adhere to FCA guidance/regulations. Has Turney used Teathers Financial as a conduit for these secret payments? Has the money gone into Teathers or has it gone into his pocket? Again there is a myriad of questions that Turney needs to answer.
Silence
Both individuals have been contacted by myself many times, both have remained ‘silent’ this is the silence of people with something to hide.
Part of those requests also asked about Mr Michael Whitlow, aka Doc Holiday, if he had any financial involvement with Nostra. Mr Whitlow is mentioned by Lofgran in the emails, however much I dislike Whitlow,I do not believe a word this man says, after having personally met him several weeks ago he assured me that he had received no money directly or indirectly from NTOG. Evidentially there is no concrete proof linking him to this ‘Devils Pact’. So Michael gets the benefit of the doubt until such time as there is or isn’t proof.
I also spoke to many sources one of which confirmed to me that they knew Turney was taking ‘backhanders’ or payments from Lofgran/Nostra.
If I was a Nostra shareholder I’d be demanding answers. This is an absolute scandal and it needs to be addressed immediately with a full explanation to the market, the Nomad, shareholders and the NTOG BOD.
Lofgran has to resign. Nothing else is acceptable. It’s over to the drug dealer and the shorting CEO for their response.
Viva
Daniel
Damning emails. Slam Dunk! Below!
@*****.***> wrote:
>
> Matt
>
> Have you discussed the consultancy agreement and the fees with anyone outside of the Company recently?
>
> I’ve received 3 emails. One’s fairly accurate. Doc and I are concerned.
>
> Ben
On Mon, May 8, 2017 at 7:11 AM, Matt Lofgran <[email protected]> wrote:
No.
I think the only ones I ever told were the Nomad. Not sure if I ever told the broker.
By the way, I don’t think we even have a consultancy agreement in place.
On Mon, May 8, 2017 at 7:15 AM, Matt Lofgran <[email protected]> wrote:
It’s looking very bleak at Andalas Energy & Power (LON: ADL) and It’s only going to get worse. I can exclusively reveal that Aim Regulation and their Nomad are investigating the company. Complaints have been lodged and the AIM Regulator is “Taking note” of those complaints! You can read all about some of the fraud by clicking HERE
As I watch their sp tumble towards the yet to be approved placing price of 0.20p, I can’t but help wonder what will happen when/if it goes sub placing price? The news from the city of financial shame, London, is that they will try to readjust the placing price further down! Yes suckers who are provisionally pencilled in for their allotment of stock may get more shares at a marked down price. Rumour is that it could be 0.15p.
I spoke to several sources yesterday one said that phone calls, emails and text messages had been flying back and forth over the last few days between the company, nomad, brokers and the market makers in a desperate attempt to “Hold the line” keep the SP above the 0.20p placing price. Andalas are on “Life Support”. Another had taken calls from known pumpers and dumpers screaming “Blue murder” on how they’d been “Shafted” by the brokers. A completely utter crock of shit. Brokers are their to make money for their clients, whoever they are. If there’s no stomach for a placing at nonsensical prices then they, like every business have to knock the price down. Supply and demand chaps. It doesn’t matter if you think you’ve got gold and tell every mug punter and BBLoon, what counts is what they are prepared to pay. Quite obviously no one was prepared to pay the nonsensical amounts ramped out by the pump and dumpers on social media, ergo you get what you can. The people who “Shafted” retail investors are the Board of Andalas and their pump & dump cheerleaders. We all know who they are!
Under Pressure!
Back to Fraud.
Just quite what has been going on within the company at this present time, one can only hazard an educated guess. But the pressure is now on the bullshitter and fraudster CEO Whitby to explain away (Among other things) why loans of $500,000 he made to himself via the Corsair Singaporean shell were extinguished. Get out of that one Dave and you can take the name ‘Houdini’. With the weight of 2,448,138,803 billion shares around his neck, he is sinking. I don’t think investors in AndalARSE will be seeing Dave for quite some time. Nudge nudge, wink! Wink!
It’s a shocking tale of undeclared, unsecured loans made by Dave Whitby from the coffers of the then CEB AIM listed company, which recently rebranded to Andalas Energy & Power (LON: ADL). Whitby, who is the CEO of Corsair Petroleum, a private Singaporean company, took control of CEB/ADL on June 5th 2015, on that day he also took control of £1,500,000 of placing cash raised at 0.4p. Within days he had secretly signed off $475,000 in undeclared related party payments in unsecured loans. If you think that is shocking, read on and discover who the unsecured loans went to.
I call upon AIM Regulation to immediately investigate Andalas Energy & Power PLC and it’s disgraceful CEO, the $600,000,000 fantasyman Dave Whitby for accounting FRAUDS he should be suspended forthwith! Their Nomad, Cantor Fitzgerald, Miss Sarah Wharry, (Worry) has been informed, as have the AIM Regulation Team and the FCA Market Abuse bods.
This is how it went.
On 10 June 2015 Whitby CEB/ADL issued Whitby/Corsair (Yes himself & his Corsair mates) with an unsecured loan of $250,000. The loan was to bear interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest was to be made by 10 June 2016.
On 15 July 2015 Whitby CEB/ADL issued to Whitby/Corsair another unsecured loan of $225,000. That loan also carried interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest was to be made by 15 July 2016.
Those payments are related party transactions and were never disclosed to shareholders or the market at the time they were made. Just how much of the $475,000 Whitby and Simon Gorringe, who is also on the board of Corsair and the gravy train at Andalas, have taken in payments from Whitby/Corsair is not known. However any payments made by Whitby/Corsair using Whitby CEB/ADL unsecured loan cash must be yet more related party transactions and subject to full RNS disclosure. Nothing, zippo…
The reason Whitby/CEB/ADL gave Whitby/Corsair unsecured loans is quite simple. Corsair haven’t got a pot to piss in and haven’t got any asset/s of value to secure the loans. It is inconceivable that any financial institution or business would advance approx. $500,000 in unsecured loans at 5%.
The questions are many and myriad but will have to wait until later down in this article because folks it gets even worse!
On the 19 August 2015. Whitby/CEB/ADL incorporated a subsidiary of Andalas Energy & Power, another Singaporean company called Corvette Energy (Singapore) PTE. LTD Company registration number 201532252D. Now you would think that an AIM listed company operating on the London Stock Exchange would have RNS’d such. But nay, there’s no mention of the new Whitby/CEB/ADL/Corvette subsidiary. The first inkling of Corvettes existence is six months later, buried in their half yearly report released on 26/01/2016.
Here’s the killer, we learn that Whitby CEB/ADL and Whitby Corsair have now novated and ‘extinguished’ the Whitby CEB/ADL unsecured loans of $500,000 & the 5% interest made to Whitby Corsair. “On 26 January 2016, Andalas, Corsair and Corvette entered into a novation agreement pursuant to which the Loans were extinguished and the benefit of the loaned moneys was transferred to Corvette with effect from 30 October 2015”. So now the unsecured, undeclared loans have come full circle back to Whitby CEB/ADL/Corvette. The burning question shareholders should be asking is this; How much was returned?
Remember, that according to the 2015 annual report the unsecured loans were made with these contractual conditions “The loans bear interest of 5% per annum payable on repayment of the loan/s. Full repayment of the principal amount/s plus accrued interest of 5% will be made by 10 June 2016 and 15 July 2016. There was no mention whatsoever of the unsecured loans being made for Indonesian Due Diligence. It is only when their repayment looms large is it sneaked out that ‘really guys this was for DD’. That throws up a multipule choice of unanswered questions. How were Whitby Corsair ever going to repay? Maybe they were planning to flood the market with the next tranches of ADL shares, all 93,750,000 going to Whitby Corsair that were to be awarded to them on the signing of an Indo’ deal? Did this plan fall apart during suspension? It’s 8 months after the unsecured loans were made that the repayment goalposts are moved. It is s fraud, compounded by lies!
Canada Dry! Charlatan Exposed!
We learn on the 26 January 2016 that they now were given so that Whitby/Corsair could progress Indonesian due diligence. What a crock of shit. Let’s be generous and say Maybe some of the cash was used but I seriously doubt that all of it was! Are we to believe that Whitby CEB/ADL will force their own ANDALAS subsidiary Corvette, to repay back $550,000 to themselves? When did it change? It’s a sleight of hand.No fooker is paying the cash back because the majority of it has been rinsed out by Whitby/Corsair! What is left is probably a small rump of cash that they once again haven’t RNS’d. These are ALL material transactions that have to all intents and purposes been sneaked out via the back door. They have been deliberately withheld. They are in effect ‘Back door Director loans’ that will never be repaid. Whitby should resign immediately.
The elephant in the room is this? Where has $550,000 dollars gone? Of course we’ll get the usual spin from Whitby, does anyone now really doubt that what myself and Tom Winnifrith, have wrote on this chump isn’t, in light of yesterdays absolute disastrous placing and this article today, bang on? Whitby is a corporate crook, raping his own shareholders to line the pockets of himself and his fellow Aussie crims.
I contacted Sarah Wharry the company nomad, from Cantor Fitzgerald, Sarah hasn’t responded to my questions. I wonder why? It has to be noted that Cantor were not the Nomad at the time of the undeclared, unsecured related party loans. That mantel fell to Sanlam Securities who, intriguingly, no longer provide Nomad services! I personally spoke to several big private holders of ADL stock who were again, unaware. I spoke to two CEO’s. One stated that he “would never put that to my board because it was wrong”. The other said in answer to my question, are these in your opinion related party transactions? Reply; “Absolutely – is a related party transaction and needs independent written advice and an RNS”. Both of these men are respected CEO’s.
I urge shareholders to contact the relevant authorities with the questions below. Make a formal complaint. A full investigation is warranted. Get the $550,000 dollars back. A full forensic account is needed here!
Questions for AIM Regulation, Cantor Fitzgerald and the FCA Market Abuse Team.
1/ Can you please explain why $475,000 in related party payments i.e Unsecured loans, made by the CEO Whitby CEB/ADL to CEO Whitby/Corsair were not disclosed to shareholders and the market at the time they were signed off? (There was never any RNS’s)
2/ Can you please investigate how much of the unsecured loans made by Whitby/CEB/ADL to Whitby/Corsair were paid in fees/expenses to Whitby/Gorringe by Whitby/Corsair?
3/ I understand that these unsecured loans have now, as of January 2016, been novated and moved into a hastily incorporated subsidiary of ADL. (Corvette) why wasn’t this disclosed?
4/ How much money was transferred by Whitby/Corsair to the Whitby ADL subsidiary Corvette?
5/ How much cash did Whitby/Corsair burn through before the residual amount of the unsecured loan was transferred back to the Andalas subsidiary Corvette?
6/ What has happened to these loans now, will they ever be paid back in full as per Whitby stated in the 2015 annual accounts?
7/ The Company has lied to shareholders and the market, isn’t this sanctionable?
8/ Why was there no RNS on the formation of the ADL subsidiary, Corvette? Surly this is an RNSable event?
9/ Why was there no RNS on the transfer of the loans back from Whitby/Corsair to the Whitby Andalas subsidiary, Corvette?
10/ Why wasn’t the novation and extinguishing of the loans plus interest, disclosed to the market and shareholders?
11/ How much of the unsecured loan cash went into the pockets of Whitby/Gorringe/Corsair?
12/ Why was no information ever given to the market that unsecured loans with 5% interest, were part of a due diligence effort?
And last but not least,
13/ Who signed these unsecured loans off and where was the oversight with the written legal advice as to their legality?
It is only in January 2016 some 8 months later, that we are told that; Andalas and Corsair agreed to structure the funding of the due diligence expenditures as loans (“Loans”) to Corsair” This just isn’t credible let alone believable.
It seems to me that this is, to all intents and purposes a fleecing of CEB/ADL cash by the executive and should be immediately investigated.
I put it to shareholders that these unsecured undeclared loans were in effect ‘back door director loans’ which have now been rinsed through two corporate entities coming back to ADL’s Corvette subsidiary minus a large amount of cash originally given to Whitby/Corsair by Whitby CEB/ADL.
Basically chaps where has all the money gone?
Viva
Dan
NB. This is what they said in their annual accounts: Published 21 July 2015;
On 5 June 2015 David Whitby was appointed as Managing Director and Chief Executive Officer of the Company. David Whitby is a beneficial owner of Corsair. Through his beneficial ownership of Corsair David Whitby owns 7,812,500 shares in the Company which were issued on 4 June 2015. On 10 June 2015 the Company entered into a loan agreement with Corsair to provide Corsair with an unsecured loan of USD 250,000. The loan bears interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest will be made by 10 June 2016.
On 11 June 2015 370,000,000 ordinary shares were issued for trading at a price of 0.4 pence per share, raising gross proceeds of GBP 1,500,000. Of these 50,000,000 were subscribed to by Northcote.
On 15 July 2015 the Company entered into a loan agreement with Corsair to provide Corsair with an unsecured loan of USD 225,000. The loan bears interest of 5% per annum payable on repayment of the loan. Full repayment of the principal amount plus accrued interest will be made by 15 July 2016.
This is what they said in their 2016 half yearly report: Published 26 Jan 2016;
On 5 June 2015, Andalas and Corsair entered into an agreement (“Assignment”) pursuant to which Andalas agreed, amongst other things, to undertake and fund due diligence in respect of certain oil and gas concessions in Indonesia with a view to making an investment. Initially, for administrative convenience, Andalas and Corsair agreed to structure the funding of the due diligence expenditures as loans (“Loans”) to Corsair and, accordingly, advances pursuant to that arrangement were made on 8 May (US$25,000), 10 June (US$250,000) and 15 July 2015 (US$225,000). On 19 August 2015, Andalas incorporated a subsidiary, Corvette Energy (Singapore) Pte Ltd (“Corvette”). On 26 January 2016, Andalas, Corsair and Corvette entered into a novation agreement pursuant to which the Loans were extinguished and the benefit of the loaned moneys was transferred to Corvette with effect from 30 October 2015.
Corvette was incorporated on 19 August 2015. There was never any mention in the 2015 accounts of Corvette etc Or what these unsecured loans were made for?!?
Corvette only comes into the picture when the repayment of the loans with interest begins to loom large.
What an absolute disaster it’s going to be on Andalas Energy & Power (LON: ADL) or as I lovingly call them ‘AndalArse’.
World Famous ShareProphets.
It’s been reported by the ‘world famous shareProphets’ and the highly respected and feared financial journalist Tom Winnifrith that AndalArse are placing at 0.2p. If that’s confirmed later today then that is a Disaster with a capital ‘D’ for their much maligned shareholder base. You can read what TomWinnifrith has discovered HERE
Warning.
There is a stick of financial BMD dynamite that will blow this company and Whitby wide open. That article will only be triggered if/when they relist or we get clarification of a cancellation of trading. For the time being our investigation is still on-going. The smoking gun is ready. Here’s a hint. 1/ Where has all the money gone and who has profited from it?
It’s a shocking tale of Whitby corporate deceits and financial ‘miss-direction’
$600 Million Dollar Fantasy Man. No wonder he’s smirking!
Followers will recall that we published a piece over the weekend on the sham being perpetrated by the fantasy $600,000,000 man Dave Whitby. You can read that piece HERE.
News has dropped from City of London sources that there’s yet another almighty ‘Kick up the AndalARSE’ on the way for holders of this POS. There’s a massive dilution about to drop. Over £2,600,000 worth of discounted shares at 0.45p-0.50p. That means that shares in issue, if it goes ahead, will be fast approaching 1.5 Billion. God only knows what warrant packages those involved with the massively discounted grab for cash will be.
We do know that Corsair, the private company run by Whitby & his cronies, will trouser approx., 230,000,000 on top of the 31,250,000 shares they’ve already trousered. Punters do not know what other fees in cash Corsair have had? The Reverend Tom Winnifrith has beat me to the line on this. You can read what Tom has discovered HERE
It’s going to be a bloodbath. Those foolhardy enough to have kept holding are now locked into the ticking time bomb that will explode very soon. They’ll need a 130% rise or (and a big almighty non-stop ramping campaign) thereabouts to get back to where it was pre suspension, if they relist at 0.45p/0.5p. Bearing in mind the low quality of the unproved, undrilled, Indonesian gas asset that’s in the pipeline. Value $1,000,000, It’s a case of hope rather than fact that CEB/Andalas will finish the day with a market cap of £20,000,000+. The real post readmission value, is cash at hand, listing value, plus asset. Which is approx. £2.5M. Being generous that equates to an SP of 0.20p or thereabouts.
The Pumpers and Dumpers will be out in force on RELISTING DAY. Remember some of those are sat on massive losses and would eat dog shit live on National television if they thought it would push the SP up.
Stay well clear. It’s a Bloodbath. Get in the popcorn.
News on Andalas Energy ( LON: ADL) or AndalARSE as I like to call them, could be about to drop. Investors will remember it traded as the mega ramped pumped & dumped CEB Resources. It was, as CEB, a major disaster for those gullible enough to fall for the bullshit of the BB and twitter P&D crews, who were being whipped up into a frenzy by off record ‘title tattle’ from various people/organisations associated with the then CEB. One moron claimed that Whitby had turned NIDO Petroleum into a $600M company. While others were spinning it as a $600M takeover. Complete Bollocks.
Under AIM rules the company have to publish a readmission document in a matter of a week or so, otherwise it’s ‘goodnight Vienna’ off the AIM it will go. $600,000,000 fantasy man CEO Dave Whitby, is reputed to be offering all kinds of financial packages on broker fees, warrants and options in-order to grab the cash. The company recently got out of a bankruptcy hole when raising £500,000 of super expensive debt on March 31 2016 – Tom Winnifrith, the respected City of London financial journalist, described it as “The most expensive debt in AIM history”.You can read his article HERE. That debt is convertible into shares if Andalas relists, and the whispers are that the £500,000 now paying for the RTO and bloated PLC costs will not be the only dilution should they relist. A further £2/3 Million of hugely discounted shares may follow. That’s very bad news for those left holding shares in the suspended cashless, asset less, shell.
$600,000,000 Fantasy Man
AndalARSE have no assets whatsoever other than some Indonesian options on options, assignment agreements and concession agreements. Any and all of those paper agreements will cost millions to sign off and work. Money they simply, as of yet do not have. Should they relist with a £2/3 Million super dilution then as sure as night follows day they will very quickly burn through it. The heads of terms agreement signed to acquire a 30% working interest in the aptly acronymic ‘TOE’, Tuba Obi East oil and gas concession, will relieve them of approx. $1,600,000 which as we all know will rise substantially, this doesn’t add in the bloated PLC and corporate payments going into the pockets of the company and its advisors. Ergo de facto they’ll be looking to raise further capital within a matter of months of relisting.
Come on people are we all really going to fall for the latest noise coming out of MX Oil: LON MXO? I’ll say it again and I’ll say it loud and clear yesterdays MX Oil RNS stinks to high heaven. I do not believe in fairies and I certainly don’t believe in a Nigerian Father Christmas dishing out $18,000,000 for an asset that was bought for a lot less when the oil price was mucho far higher than it is now!
In the 25 January 2016 RNS the bullshitters running the company told us that a credible offer/buyer had come forward. Of course in my limited experience no company just pops up. So this company, whoever it is, must have been in negotiation’s for weeks if not months….. And there’ll be an evidential paper trail as such to prove thus should it all fade away….. What a ‘fortunate’ coincidence it was that they announced it when they did, bearing in mind that the MX Oil sp had gone below its 1p ‘par value’ to 0.60p and they had to seek share-holder approval to issue more confetti at a hastily convened EGM. The whisper was that they’d been running around seeking to place at 0.4/0.5. They were desperate to raise cash. In that RNS they told us all this; “The Directors believe that selling its investment on these terms, if completed, would be more attractive to shareholders than raising equity to fund its investment to first oil at the current share price.” Then they hit us with a keep the lights on placing! They raised £560,000 from a placing of 44.8 million ordinary shares at a price of 1.25 pence per share. Not including the outstanding bonds. So all in all the sleight of hand has eased off the immediate pressure.
The pump and dumpers, were out in force chatting the usual guff. Podcasts a plenty! Remember these are the same people who were telling you all how super the 4.5p premium placing was, so much oil, fantastic assets in Mexico, Africa, Frangos great guy, blah bblah blah… Well people just look at the clusterfook you’ve ended up in. Best not to re-visit for more punishment.
However the very fact that an EGM on the 18 February 2016 has now been called should red flag it for investors, who need to run a mile and dump their stock. MX Oil are seeking shareholder consent for a capital reorganisation which would permit the Company to issue new Ordinary Shares at a price below 1p, the current nominal value of each Ordinary Share. In other words there’s going to be an almighty placing sub 1p.
Take no notice of the fantasy and the porky pies coming out of Cornhill HQ. What’s the betting that the ‘Buyer’ after Due Diligence etc. etc. etc. Doesn’t complete?‘Initially up to US$3.5 million will be advanced to the Company in two stages after the signing of binding legal documentation. These funds will be used to finance the remaining cash calls expected to be required for the investment in order to bring the underlying asset into production.’ Here’s their get out of jail clause in the 2nd February 2016 RNS. “If, for whatever reason, the purchaser decides not to exercise its acquisition right then the amount initially advanced will either be repaid converted into a convertible loan in the company holding the investment or become a secured loan to be repaid from the cash flow generated from oil production”
As for the convenient unnamed mystery buyer who appeared in a puff of smoke, I’ll bet you my last penny that they disappear just as quickly as they appeared once the smoke and mirrors and the party tricks are over. i.e. MX have fleeced more cash from the mug retail brigade. It’s chicanery. Stay well clear of this. Do what Frangos has done. Run a fooking mile and put as much distance between your selves and this POS as is humanly possible.
Well let me tell you. On the 21st April 2018 the day of the UK Investor Show, four of the above met in a public house (Mr Burton, Mr McKinley, Mr Whitlow & Mr Turney) where they agreed, among other things, to form a ‘mutual self-help society‘ i.e. they made a pact and conspired to ‘Promote’ each other’s tweets and blogs/articles/podcasts. Sources who witnessed it also tell me that they believed they could become a force greater than ShareProphets. The deluded ‘Wannabees‘ thought they were going to take over the world of micro-‘crap’ info…… 
The history of Lofgran is one of total failure and scurrilous lies. There is no short squeeze here. No Market Maker desperate for stock to close a short. It is sheer fantasy to enable, nay manipulate, the SP upwards for the yet again Placing that is inevitable. The shorting Shyster has been running around the City gauging the appetite for a Placing. Hence the continual ramptastic horseshit of the Band of not so ‘Merry Men’.
Viva
