On April Fool’s day there was an upbeat statement from Nostra Terra (NTOG) promising all sorts of good things. What it neglected to mention was that trade creditors had risen to £230,000 as the cash burning enterprise had no cash and so imply could not afford to pay its bills. One of those owed cash (£60,000) was Nomad Strand Hanson, boy how it must have been hoping for a placing….
Don’t get me wrong, I think that Nostra Terra Oil & Gas (NTOG) is a basket case but at least flip flip Ben Turney has engineered a boardroom revolution which gives it a slim chance of not going bust. Well done to Ben who, you may remember, discussed Nostra Terra in a recent ShareProphets Radio free podcast HERE.
My guest in this week's show which is sponsored by Open Orphan PLC (ORPH) is a former editor of this website Flip Flop Ben Turney. We discuss the problems with AIM, New World Oil & Gas, Nostra Terra (NTOG), touching on the mud being slung at Ben by some folks but on the real issues that company faces, on Touchstone Exploration, Big Sofa (BST) and many other matters, notably AIM PLC director expenses. I also discuss companies who switch Nomads too often. Yes that includes Versarien (VRS) and its forced change of today. If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.
In this podcast from the Welsh Hovel as it is battered by Storm Dennis I discuss Nostra Terra (NTOG) ahead of a podcast with former site editor Flip Flop Ben Turney on Monday, Gervais Williams and his rile in this sorry tale and his problems and the fate of Sirius Minerals (SXX) and why certain tedious establishment suits need to start being honest with folks who have lost millions.
Yesterday another dog cursed by the hex that is a Gervais Williams investment, that is to say Nostra Terra Oil & Gas (NTOG), published details of a sack the board EGM and the management’s case for staying on. What, in a cowardly fashion, it refused to do, as I believe it should have done is publish the letter that the requisitioner, Eridge Capital run by flip flop Ben Turney, wanted to send to shareholders. Fear not… the letter, outside of all paywalls, is below. Nostra Terra shareholders should read it and vote to sack chairman Ewan Ainsworth - in light of the scandalous pay revelations below - and hapless Lofgran after this bombshell. Sack the board!
All we need now is for Julie "Lingerie on expenses" Meyer to enter the bust up at Nostra Terra Oil & Gas (NTOG) and the holy row would be complete. This will be entertaining if, I suspect, utterly pointless. I also comment on Versarien (VRS) correcting a BB loon - and flag up that I have a major AIM expose of a high profile, shortable, stock going live tomorrow morning. I explain why it is so interesting. Now I am off to do a Woodlarks training walk. So far we have £6600 raised or pledged - don't be mean donate today HERE
Oh dear, Oh dear. On the principle that Good News travels fast and vice versa I rather worry for flip flop Ben Turney, the former editor of this website and the rescuer of formerly AIM listed Teathers Financial. How is the rescue going? Er... As you can see below...
Broker Shore Cap insisted that shares in Sosandar (SOS) were worth 50p. Thirsty Paul Scott gushed about how they were potentially worth far more and after such massive pumping the stock hit the mid forties at which point it was valued at around thirty times historic sales. Insanity. And then the shares started sliding, falling from 44p at the start of this month to 36p yesterday. That must have been enough to turn anyone to drink. Whatever could have been happening… oh yes…
AIM-listed Sosandar (SOS), my tip from this year’s UK Investor Show, had already performed very well but this morning the full year results to March were released. It is always a good sign when companies publish results ahead of the deadline and Sosandar could have waited to the end of September. So it was with increased optimism that I read through the report, but will it be enough for me to raise my stance on the shares and flip flop again?
I look at why taking part in the Premaitha (NIPT) placing did not constitute insider dealing but make a suggestion as to how to change the way AIM placings take part. I look at what the Countrywide (CWD) statement means for Purplebricks (PURP) and at UK housing activity, at MySquar (FRAUD) where SP Angel continues to turn a blind eye to crime, at Avanti Communications (AVN), R4E (R4E) and at a new NEX float Tectonic Gold (TTAU) formerly Stratmin and why AIM turned it down and what message that sends to flip flop Ben Turney and Teathers (TEA). Read about my extreme weekend suffering and be generous HERE
Flip Flop Ben Turney, formerly of this Parish, insists that this email to shareholders in Teathers Financial is private and confidential. I can see why, as it is bollocks he would not want subjected to outside scrutiny. Naturally it has found its way to Winnileaks so I publish it in full.
Some folks appear to think that New World Oil & Gas (NEW) has been a failure for Adam Reynolds. Sure it got booted off AIM for failing to do an RTO but you still have a company and news is imminent.
I wrote earlier today that Flip Flop Ben Turney who now finds himself running failed ex AIM investment vehicle Teathers really MUST go to the Old Bill demanding a full investigation into the ATM withdrawals by ex FD Nilesh Jagatia. A reader points out that Flip Flop has another civic duty to perform on this matter, he must go to the taxman. Ever keen to help...
Oil and gas company Bowleven (BLVN) is the latest in the sights of shareholder activist ‘flip flop’ Ben Turney – who, is organising small shareholders. But Flip Flop is the Monkey, the Organ grinder - we believe - is an activist hedge fund and this will unlock value. With the shares at a current 24.5p offer price, there is cash, asset (and currently wider industry sentiment) support, whilst we reckon success for the hedge fund in ousting a hated management would see the shares rise smartly in short order.
He is at it again, flip flop Ben Turney has another company in his sights and this time it is rather larger than before. It is Bowleven (BLVN). And in his attenpts to push for management change, we can reveal that Turney has the support of bear raider Waseem Shakoor who is not part of Turney's group but has a material stake.
The word on the street is that the AGM of Sefton Resources (SER) is to be held today at the Essex offices of ADVFN PLC (AFN) - the head honchos at both company's being the same. Flip flop Ben Turney, who now owns almost 13% of the stock says that ADVFN boss Clem Chambers has slammed the phone down on him as he tried to confirm this.
As we revealed yesterday, ADVFN (AFN) bosses Clem Chambers & Mike Hodges who also run now delisted Sefton Resources (SER) have stated that flip flop Ben Turney has not submitted an EGM request to oust them. Flip Flop has denied this and accused the Sefton board of lying to their investors. Now Turney has parked his tank on the ADVFN lawn.
Flip Flop Ben Turney who is endeavouring to oust Clem Chambers and Mike Hodges of ADVFN (AFN) from the board of now de-listed Sefton Resources (SER) has accused the two men of "telling blatant and demonstrable lies to investors in Sefton."
The board of Sefton (SER) was informed eight days ago that Flip Flop Ben Turney owned 13% of the issued share capital and was demanding an EGM to oust the current directors, ADVFN (AFN) bosses Clem Chambers and Mike Hodges with Ben taking control. The resolution arrived in the BVI yesterday by snail mail but after eight days Flip Flop has not had a response. But he seems to have growing support and there are other developments.
Cry aceeed! Over the weekend Nigel published the proposals made by flip flop Ben Turney for Sefton Resources (SER) and Teathers (TEA). Yup the longest running pantomime on the AIM Casino is back in town. Some of the ideas suggested are just plain crackers. Truly when you thought this farce could not get any more surreal it just did. Others are actually very sensible. I try to cut through the farce to suggest what should happen.
I am happy to congratulate flip flop Ben Turney. Of course he remains a clown capable of bollocksing up much in life but yesterday he claimed notable scalps as three disgraced, discredited and utterly shite directors of New World Oil & Gas (NEW) walked the plank with immediate effect and that is down to Flip Flop.
Embattled Teathers Financial (TEA) boss Jason Drummond has admitted that the late filing of accounts was a mistake but, in a long conversation last night, he said that people who assume he is hiding something will have a big shock.
There are five directors at New World Oil & Gas (NEW), two new regime (Adam Reynolds and Nick Lee) and three of the utterly loathed and discredited old guard who spunked £33 million of other folks cash on deals that were either fraudulent (the fake Sheikh) or just crap. How Messrs Einchcomb, Polakoff and Sztyk have the brass neck to hang around like a lingering mega fart defies belief. But not for much longer.
If anyone sees Chris Cleverley about town make sure he reads this. The "spin" from supporters of African Potash (AFPO) is that the events of yesterday are just a matter of bad PR, nothing unusual on the AIM casino and we should just move on. Ben "flip flop" Turney tweets such nonsense. Boy has flip flop lost the plot. African has been seen to have made statements via RNS, as it worked a placing away that were just, by its own admission, untrue. It raised cash on a false prospectus. That is fraud. Its shares must be suspended and its CEO Chris Cleverley deserves to go to prison. And he might just do that. Flip Flop sent out two tweets on this matter yesterday:
In this podcast I look at United Cacao (CHOC) and also Gulfstands Petroleum (GPX) but the bulk of this edition covers the ramping of Horse Hill stocks by an unholy alliance of flip flop, Jabba and others. The trouble is that their analysis - I use the word loosely - is based on Leni-Maths and Leni-Maths does not add up.
In this podcast i start with two shares on the up: Optibiotix (OPTI) and Volex (VLX). One's a dog and it is not Optibiotix. There is a word on Finnaust (FAM) a caveat on yesterday's bearcast. Then onto Ascent Resources (AST) - that may surprise you - Oilex (OEX), Rolls Royce (RR), Ubisense (UBI), Communisis (CMS), Spire Health (SPI) and Atlas Developments (ADSS) where flip flop is talking more nonsense.
A few minutes ago flip flop Ben Turney - who has called this stock disastrously wrong - once again put the bull case for shares in Gulf Keystone (GKP) at 27p. I've been a bear from 180p all the way down. I remain a bear. My initial target is sub 10p but this could be a zero. I explain all in another mini podcast.
In this podcast I explain why flip flop Ben Turney is wrong about cleaning up AIM. You dont need new rules or protections just the draconian implementation of existing rules against individuals (natch including Chris Oil). Then it is onto the court case next week and finally a demolition of CIC Gold (CICG)
In this podcast I answer yesterday's quiz question and then celebrate the election of Comrade Jeremy Corbyn to the leadership of the Labour party. The Tories are in thrall to big business and crony capitalists and Comrade Corbyn at least ensures real questions are asked as we sleep walk over the abyss on so many fronts. I then put Comrade Dan Levi straight on insider dealing laws with relation to his latest spurious allegations about flip flop Ben Turney. Then there is a wider look at the markets.
New World Oil & Gas (NEW) shares were suspended at 0.24p because of the inability of shareholders to get trades settled. Following a £3.5 million fund raise at 0.09p that seems to have been settled and the shares have restarted trading today, duly crashing to 0.08p -0.1p. Questions, questions.
Once again IT issues in Greece delay this podcast. I start by explianing why the reaction of Paul Scott and the craven deadwood press to the new national living wage proposed by George Osborne displays 100% economic illiteracy. It is simply a transfer of wealth from business to the State, the poor will gain nothing. Then onto defending David Lenigas and Andrew Bell from some of the sillier comments made by some folk and to explian why flip flop Ben Turney is again wrong on New World Oil & Gas. hats off to Paul Curtis for the silliest remark of the day as I stck the boot into Gulf Keystone and then also to the prep, pump and dump at Beowulf Mining. And finally I have another go at biotech dog ValiRx.
I am not sure about you but I am getting 150% bored with two companies with a combined market cap of c£5million, viz Sefton Resources and New World Oil & Gas. But your esteemed editor flip flop Ben Turney does not share that sense of ennui. And so to this week's competition.
Coming to you today from Shipston in Warwickshire I start with a wander down memory lane. That is Mr nice guy. Then it is back to my true self as I plunge the knife into Sefton Resources and Goldplat and sit on the fence on Ten Alps now that Luke Johnson is on board. That flip flop Ben Turney is just too charitable.
Detail is slowly emerging from the farcical New World Oil & Gas (NEW) EGM in Jersey today. Criminal market abuser Chris Oil was not present - maybe his passport has already been confiscated. But Ben Turney was attending as were no less than four heavies from broker Cornhill Capital. The bottom line is, knowing that a show of hands would go against the company, it started the meeting by calling a poll - that is to say a vote of those actually casting votes on the two resolutions. However...
We have often criticised Nomad Roland “fatty” Cornish for his role in the debacles at New World Oil & Gas (NEW), Gate Ventures (GATE) and other AIM casino omnishambles stories. Now he is also acting for Rob Terry’s Daniel Stewart (DAN). But in acting for all these POS enterprises and for signing off on so many comically misleading RNS statements, fatty does have a function. He keeps these joke Companies on the AIM casino and that gives the folks on the LSE Asylum something to froth about. Heck, I forgot – fatty also used to act for Aiden Earley’s Worthington (WRN).
Oh dear. Those following flip flop pitchfork Ben Turney and the loons on the LSE asylum and filling their boots with New World at up to 0.85p ahead of “The biggest bear squeeze in history” have today done their conkers. The shares have crashed by more than 60% to just 0.16p bid thanks to two announcements. Ouch, how does it feel being skewered on your own pitchfork? Ask Ben.
Flip flop himself posted a couple of entries and almost won but I would have been accused of fixing the contest so we can’t have that. As such the winner is Bondholder with a posting, needless to say, from the LSE Asylum
What a total omnishambles New World Oil & Gas (NEW) has become. Why were the shares not suspended last week as I advocated to howls of abuse from followers of flip flop Pitchfork Ben Turney who now - belatedly - seems to agree. In this podcast I pose some serious questions for the company and its advisers and have a few suggestions on what needs to happen. And a warning for some of flip flop Pitchfork's followers who have piled in.