Tom Winnifrith Bearcast: Timber at Tullow & it could get a lot worse, when's the Bidstack warning & a very cowardly clown
I commented last Wednesday on Independent Oil and Gas (IOG) and how making sense of the farm-out agreement to CalEnergy announced some 10 days ago was rather difficult. I suggested Independent could perhaps publish a presentation to explain the detail? Independent obliged on Friday morning last week. Now either I’m losing the plot or Independent is? Which is it?
I commented recently on Independent Oil and Gas (IOG) and how I considered the Harvey drill was crucial to the company’s future and a farm-out prior to the result was very unlikely. Well I was wrong on the latter point, as last Friday the company announced a farm-out to CalEnergy Resources Ltd, part of the Berkshire Hathaway Empire. The detail however only reinforces my view the Harvey drill is critical to the company, and if anything, is now even more important.
Independent Oil and Gas (IOG) has been on a roller coaster of a journey over the last few years, with plenty of highs and lows. Some aspects have been of its own making, such as the unsuccessful appraisal drill of Skipper back in 2016 and some due to external influences like funding by what increasingly looks like a chain of fraudulent financial backers in London and Capital Finance via London Oil and Gas.
AIM listed Independent Oil & Gas (IOG) has today issued a statement in relation to London Oil & Gas (LOG) run by Amber Rudd’s pal and donor Simon Hume Kendall and it unwittingly confirms Sunday’s scoop HERE that LOG is the recipient of £122 million of the £176 million leant by London & Capital Finance, the ponzi now in administration and under full FCA enquiry.
I have already noted how London Oil & Gas, the company that is using Ponzi fraud cash from related party LCF (now under full FCA investigation) , to fund AIM listed Independent Oil & Gas (IOG) was linked to a bent solicitor and a Tory grandee. But the links with the nasty party are far deeper and go right up to the ghastly work and pensions secretary, and former stockmarket spiv, Amber Rudd.
Oh dear, oh dear. This really is proof that Independent Oil & Gas (IOG) is - whatever its scumbag Nomad FinnCrap (FCAP) claims -complete toast. You will remember that Independent owes more than £30 million to unquoted London Oil & Gas. That money has to start being repaid within a few months and Independent will go bust unless London provides more funds. But London has borrowed money from LCF a related party firm subject to a full blown FCA raid as it is a ponzi fraud as we showed here yesterday. That cash is repayable on demand. Now read on....
AIM Casino listed Independent Oil & Gas (IOG) is dependent on financing from London Oil & Gas which in turn is dependent on financing ( repayable on demand) from a ponzi called London & Capital Finance now the subject of a full FCA raid and lockdown. We have covered this extensively already but there is more...
I have already highlighted how London and Capital Finance Plc (“LCF”) is the principal lender to Independent Oil and Gas (“IOG”) via London Oil and Gas (“LOG”) and raised concern about those arrangements. Looking at the parent of LOG and its subsidiaries raises a whole series of red flags which is not only bad news for holders of LCF minibonds but also shareholders in IOG.
As I noted yesterday, London's second worst Nomad,, FinnCrap (FCAP), and Independent Oil & Gas (IOG) served up a wholly misleading response to my Thursday bombshell. Now for a detailed drill down on the maths to reveal the extent of that deception….
Yesterday I pointed out that the ultimate benefactor of AIM Cesspit listed Independent Oil & Gas (IOG), was blocked from doing any activity after an FCA raid and that created real issues for Independent. The company and its scumbag Nomad FinnCap (FCAP) has responded with a statement that quite simply misleads investors. That should tell you everything…SELL!
Wakey wakey London’s second worst Nomad! Your client Independent Oil & Gas (IOG) could be about to crash land in tits up alley. A statement is needed NOW after the FCA swooped on its ultimate benefactor. What, you mean Finncap’s (FCAP) Nomad clowns didn’t realise? Jokers. Poltroons. Not fit for purpose.
Peter Young was the co founder of Independent Oil & Gas (IOG) and until March of this year sat on its board. He is still its “head of Business Origination.” He, and his wife Fiona who works for charity Social Enterprise UK, are either the UK’s greatest living share traders or just plain insider dealers. The stock in question is Rock Rose Energy (RRE) and I merely print a timeline of phone calls and emails and, as Peter Cook’s version of Judge Cantley in the Jeremy Thorpe trial would put it, “then invite you, ladies and gentlemen of the jury, to go away and consider carefully why these two fine upstanding individuals are not guilty of anything at all but should do themselves a favour and become professional day traders.”
Featuring shares in Alecto Minerals (ALO), Amur Minerals (AMC), Cap-XX (CPX), Infastrata (INFAS), Independent Oil & Gas (IOG), PCG Entertainment (PCGE), together with some share price targets
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Independent Oil & Gas, Northcote Energy, Providence Resources and setting share price targets for all three stocks
Released at 6pm on Friday night, this is a devastating RNS from Independent Oil and Gas plc (IOG). For anyone invested here, simply read the RNS which is reproduced below. It says it all: the long promised funding package which was supposed to see the company through has failed because the investor has walked from the deal. Independent has funding thought to just 4 September, at which point there is a £358,000 loan from Darwin to pay back.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at Anglo Asian Mining (AAZ), Independent Oil & Gas (IOG), Independent Resources (IRG).
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at Independent Oil & Gas (IOG), OneSavingsBank (OSB), Wandisco (WAND).
Yesterday afternoon I revealed how AM casino failure of a company Independent Oil & Gas (IOG) was trying to get away a rescue placing. Its shares were, as I went live, 15.5p and barely traded. I also revealed that even though it had slashed the offer price to 10p it was struggling because, let’s be honest, this is a dog. The reaction of the company has been despicable, forced to fess up but aiming to mislead investors.
That AIM casino listed Independent Oil & Gas (IOG) has a painfully think balance sheet and so needs a rescue bailout is no secret. It seems to be trying to rectify that but I am told that it is struggling.
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