Aminex Share Discussion Threads

[bw64402] 17/5/2016 12:11

A business with a market cap of just £23m sat on all that asset. Surely value will out at some point. Anyone playing long will see a nice return here (one day)

[lfdkmp] 17/5/2016 10:45

whoops - fat fingers.

[lfdkmp] 17/5/2016 10:44

Wonder if there will be any news at the AGM on receipt of payment for first Tanzania gas.

The word "imminent" springs to mind :-)

[lfdkmp] 17/5/2016 10:44

Wonder if there will be any news at the AGM on receipt of payment for first Tanzania gas.

The word "imminent" springs to mind :-)

[blackgold00] 17/5/2016 10:40

the Aminex staff would be better of to buy stock in the market place at this rate. share price now down 10% from the option price set at 1.34 which are diluting the existing shares by just 7%.

[edgar222] 17/5/2016 09:18

LastthrowNot at AGM I am afraid.I await any news with interest from you and other trusted postersCheers

[theunluckyone] 17/5/2016 08:54

edgar222 - So you see that drilling TWO wells,checking the results and getting them into production in SIX MONTHS in arguably an even more corrupt country than Tanzania is entirely possible do you ? If so it beggars the question of if they could do it in Moldova why the hell can't they do it in Tanzania ? I look forward with interest to your reply or that of any of the other three "thumbs up" posters.

[last throw] 17/5/2016 08:37

Hi Edgar

I am attending the AGM and wonder whether you will be there too?

Anyone else fancy meeting up beforehand to discuss a strategy?

LT

[edgar222] 17/5/2016 07:54

I have read and re-read theunluckyone's posts. I cannot for the life of me see even a prima facie case of corruption.

As far as I can see he has successfully established that people in the O&G industry know some other people in the O&G industry.

So to answer your question, theunluckyone, no I do not smell a rat. Or at least not a smell coming from Aminex.

[warbaby43] 16/5/2016 20:41

Agree with every word of that summary, unluckyone, and no wonder the sods feel so at home in Tanzania.

[theunluckyone] 16/5/2016 16:42

warbaby43 - To a great extent I suppose us owners of the business are in a powerless position unable to exert any pressure on our EMPLOYEES - however ridiculous it may seem.If we vote against the re election of a director at an AGM our votes would be dwarfed by the votes cast by other directors on the same gravy train and of course 99% of shareholders can't be bothered to vote anyway so we all know where those votes are cast ! The ONLY time you can make them feel uncomfortable is when they turn up at an AGM - hence my frustration at not being able to go on Wednesday.The other 364 days of the year they can and do treat us like something they had just trodden on and not even acknowledge our existence.You yourself touched on ONE problem with the recent options grant - who the hell and why the hell is some individual(s) getting over 27 million shares.
I feel that the many hours I have taken researching these directors is well worth it and it is very sad that a lot of private investors just shrug their shoulders and simply say " So what ? " After all corruption is wrong - whatever side of the table it is on !!!!

[ngms27] 16/5/2016 16:09

Smaller E&Ps are run for the boys. It's tantamount to the Masons how they all feather each others nests at shareholders expense.

[skinwalker] 16/5/2016 14:41

I can certainly smell a DOG

[theunluckyone] 16/5/2016 12:32

Anybody else smell a rat ?

[theunluckyone] 16/5/2016 12:28

So lets move onto this mysterious partnership with who Aminex calls Valiexchimp SRL - every other source details it as SLR - the concession holder of the two licences in Moldova.
In July 1995 the Moldovan Government approved an E&D concession - including the above - to a Canadian Company Redeco Energy Inc and an American company Costilla Energy Inc but due to financial constraints limited activity was seen in Moldova. Costilla was eventually declared bankrupt and in 2007 Redeco was taken over by Valiechimp. Since Redeco had not kept to their obligations under the original concession the Moldovan Government reduced the area covered to that of the Valena and Victorovca gas and oil fields.Again very little activity was seen "on the ground" but on 5th November 2007 a company called Island Oil and Gas - sound familiar ? - announced that they intended to form a partnership with Valiexchimp on a 50/50 basis to further develop those oilfields -Sound familiar?
Unfortunately,when Island Oil and Gas was taken over by San Leon Energy - SMALL WORLD ISN'T IT !! - three years later all the Island Financial Reports disappeared so it is unclear whether the transaction with Valiexchimp was ever completed.By 2010 San Leon had a new management team in place and Thompson had basically lost control of the company so I doubt that Island's deal with Valiexchimp went ahead especially as the Annual Report for 2010 failed to show any activity in Moldova.Despite spending a lot of time searching for it I can find no evidence of a deal being struck between Valiexchimp and Canyon Oil and Gas to develop the two oilfields which does appear strange but I did note that the "Manager" of Valiexchimp was arrested on suspicion of fraudulently obtaining loans totaling 465 million Moldovan leu from financial institutions.The loans were allegedly made via five affiliate companies of Valiexchimp. Hardly the type of person you would expect the top management of a company that you are a shareholder in to know let alone conduct dealings with !!!


PAGE 33 IS RELEVANT

[stinkypeet] 16/5/2016 11:52

So edgar, you are expecting AEX to issue news before Wednesday - well they might. They could issue a load of news that is not market sensitive - i.e. they could issue news that does bnot have any material impact on the share price Or they could issue news that is market sensitive and will have an impact on the share price And let's face it this is the only news that is worth hearing and might offset the impact of the options announcement....

However they BOD can NOT randomly choose when to issue news that is "market sensitive", or release it conveniently at or just before the AGM to influence shareholders... NO, they are required by the LSE to issue such news as soon as it is available. Hence of there was any market sensitive information available now they would have to release it NOW.

[warbaby43] 16/5/2016 11:46

Thanks for that so far, the unlucky, and look forward to the next episode. Pity about the AGM.

[theunluckyone] 16/5/2016 11:30

edgar222 - Nothing new ? So you are happy with the fact that the two main people in Aminex management team appear to have trouble knowing the difference between the truth and total fabrication ? I am very very troubled with my investment in this company - no I am not going to sell out at a huge financial loss - but I believe that the options scandal is just another piece of the long game certain individuals are playing and that there is still a chance I may be able to get out with most of my investment money intact.After all they must surely announce some good news to head off the revolt at the AGM ? My guess would be via an RNS on the morning of the AGM so attendees to the AGM may not have had chance to digest its contents !!

[theunluckyone] 16/5/2016 11:19

thecynical1 - NO I am not only looking into it NOW !!! I was going to raise it at the AGM but as sod's law dictates it coincides with an important consultation on a serious medical condition I am blighted with and health MUST come first.I felt that shareholders should be aware of these dealings which at first glance may look a little dubious but the deeper one digs the more serious the conclusions will be - I have still more investigations to disclose so wait a little longer before you slam me !!!!

[ngms27] 16/5/2016 11:18

Yes they have been absolutely brilliant at eroding shareholder value since they took up the Hot Seats and then pull off the Coupe de grace by awarding themselves and their stooges 7.72% of the Company.

More of the same please

[theunluckyone] 16/5/2016 11:09

So lets have an even closer look at the people behind Canyon Oil and Gas Ltd.
From the Aminex Annual Reports Jay Bhattacherjee is described as having worked for Apache,Pengrowth,Scotia Waterous and Longreach Oil and Gas.He is mentioned as simply being a team member at Apache but as being integral in expanding Pengrowth by way of strategic acquisitions and operations optimisation. I have looked through all available reports issued by Pengrowth and surprisingly for such an apparently pivotal person I can find no mention of Mr.Bhattacherjee anywhere!!
All career resume's I can find for him mention Apache but strangely do not highlight this seemingly important phase in his career development.His role at Scotia Waterous is not expanded on in the Aminex directors write ups but since on their website they claim to be " a global leader in Oil and Gas M&A " I deduce that Jay must be involved in such deals albeit in a minor capacity since his name is not mentioned in any reports I have discovered and read.As for his time at Longreach which was described as being "instrumental in its growth .... which culminated in Longreach successfully listing on the TSX Exchange" I was surprised to discover that his tenure as VP for operations lasted barely NINE MONTHS - All that achieved in NINE MONTHS - WOW !! For such an important individual I expected a lengthy eulogy thanking him for his massive impact at the Company when his resignation was announced but instead it was just a simple note advising of his departure :-
"In addition, Jay Bhattacherjee is resigning as VP Operations but will continue as a
consultant on selective technical and operations issues until year end."
I WONDER WHY ? COULD IT BE THAT JAYS REPUTATION AS A DEAL MAKER HAD ACTUALLY SURPASSED HIS TALENTS OR IF HE WAS THAT GOOD WHY NOT HANG AROUND AND ENJOY THE FRUITS OF HIS LABOUR ?
One company name that did pop up in documents I researched during Jay's time at Longreach was that of San Leon Energy which of course was the Company that had a certain WILLIAM ARTHUR PHILIP THOMPSON at its head.I would assume that this is where the two seemingly unconnected individuals first met and went onto form Canyon Oil and Gas.
Very little information is available regarding the business dealings of Thompson before setting up Canyon other than of course his involvement with San Leon Energy and very very interestingly his role as Chief Geologist at a Company called Island Oil and Gas - remember the name !!

[edgar222] 16/5/2016 10:59

Not sure there is anything new in the Canyon stuff.

Brian Hall "bought" in Jay B and Thompson at a time when Aminex desperately needed someone to take over the reins following Detmer.

Whether the price paid (for the Canyon "assets" which were never core to Aminex) was worth it, time and share price will tell.

So far, I think Jay B and the management have been excellent. Which is very distinct from me saying I am happy with the share price.

I may be proved horribly wrong if it turns out that the news I am expecting does not happen. But I trust that it will / is happening.

FWIW!

[thecynical1] 16/5/2016 10:50

the unluckyone........are you only looking into this now? : )

You obviously need to get with the plot - these guys are looking after number 1..........whether their shareholders make or lose money, doesn't really count....imo. Look at the strike price for the options they have issued recently..........classic.......basically no performance required..........no target........any increase on the present status quo and they are in the money.....classic again!!!!!! : )

[bunbooster2] 16/5/2016 10:22

30 MW private gas plant being planned -

Hydroelectric dampening demand for gas generated leccy -

Tanzania cuts back on Kenya power imports -

Celebrity deaths continue -