SierraBravo
10 Jul 2015
Re: Magic at ABTOG -SB videodawn,It all seems a bit curious. AA02:"The attached template for dormant company accounts is onlysuitable for those companies limited by shares which have nevertraded and where the only transaction entered into the accountingrecords of the company is the issue of subscriber shares."It can still hold assets and be dormant (though it appears this one doesn't).It can still, I believe, have activity. Just not activity that generates financial transactions. The directors could be busy in the background trying to arrange contracts etc.But it is hard to reconcile it being dormant with what has been published.
videodawn
09 Jul 2015
Magic at ABTOG -SB Good Afternoon SBI have downloaded the accounts for ABT Oil and Gas Limited, (ABTOG) recently submitted late to CH.The form AA2 is a standard declaration of dormant company accounts (DCA), no cash, no assets, no liabilities, and by definition as DCA- no transactions to report. The date of the DCA balance sheet is 30 June 2014, signed by Damien Minty.However, according to Providence :“In November 2013, the Company agreed a phased farm-in on Helvick and Dunmore discoveries with ABT Oil and Gas (“ABTOG”
, a UK based company who has proprietary technology for the deployment of low cost development solutions for marginal fields. As part of the farm-in, which is subject to the receipt of a Lease Undertaking from the Irish Government, ABTOG will assist the joint venture partners in the carrying out of a phased detailed work programme.”And according to Mr Minty in a December 2013 RNS:“ABT Oil & Gas (“ABTOG” has made rapid progress and, as stated in recent announcements, is now working on marginal field projects in the UK Continental Shelf (Fyne Field) and the North Celtic Sea (Dunmore and Helvick discoveries). Discussions also continue with other companies and further projects are expected to be secured in the coming months.”And in October 2013:“Senior Appointments at ABTOG. After noting the interest from both the markets and operators in ABTOG its shareholders, Enegi and ABT, have commenced the appointment of an independent management team within ABTOG. The primary appointment is that of Stephen Baird as CEO, with the roles of Commercial Director and Business Development Director having also been filled.”“ABT Oil & Gas is a joint venture company owned 50/50 by Enegi and ABTechnology.”And on 12 June 2014“Enegi, the independent oil and gas company, is pleased to announce the execution of a nonbinding Memorandum of Understanding (“MoU” between ABT Oil and Gas Ltd. (“ABTOG”, the marginal field development venture in which it holds a 50% interest) and Wood Group PSN (“WGPSN” that defines the terms under which it is proposed that WGPSN will subscribe for a 50% shareholding in ABTOG’s previously announced engineering solutions subsidiary, Marginal Field Development Co.”*** All that work in the year to 30 June 2014, and only a set of DCA for the year? Minty Magic!! ***
Push2Gush
09 Jul 2015
Re: Who owns ABTOG Can't remember exactly and can't be arrissed to trawl through but they raised £2.05 mil on the last placing to cover the FDP etc and use £500k for another stupid punt based on SP for monthly income that fell on it's arrisssThe reality that the MOU with WG fell on it's arriss meaning that I fully expect ABTOG to have to pay WG for works done regardless of failure to submit means either they spent all the funds on that and other sheite or they defaulted and still held funds that were then spent elsewhere but has not been noted to shareholders. Those monies should have shown up in the accounts and where they were used in my opinion.
SierraBravo
08 Jul 2015
Re: Who owns ABTOG Video, I dont have access to thm but if dorman accounts have been filed there are no financial tansactions and no change in asset caluations or new contingent liabilities etc.This could possibly be a good thing; nothing spent and that was at least partially implied. It could also be a bad thing. The cos s the c currently sitting elsewhere in the group - though this shouldnt be the case since they wuld stil have an impact on contingent liabilites or accruals etc.group accountng can be dificult to unravel.
merce dismal
06 Jul 2015
HELLENIC (H) ENEGI Good "Evans Godfrey.........is this abomination still going?Well, I think not for too much longer old boy?But that's what they said about the Euro!Hmnnnn. but the Euro is about to land in the doo-doo any time within the next month surely?That's as maybe; but ENEGI's BoD are always looking for wheezes to survive and entice in the unread and unwary.Aye ah Knows that....but the wheezing is now coming out of the BoDs' wallets as even they are now running low on the spondulics...some of it might even be their own money too...rather than everyone elses?Me personally...well I am playing things safe and back in the the "big Divi" payers...UU, SSE & NG....seems literally "Aimless" to go elsewhere.In times of economic strife tis always wise to invest in what keeps the hu,man race alive...water and ENERGY..... and that's the closest you will get me to invest in an AIM stock for quite some time ...if ever again??????Just arouse me when the last rites are issued...but stay well clear of any rights issue.MD ( Monetary Disaster).
mawreese
06 Jul 2015
Share Price A new record low reached today. Maybe we have 'interests' in Greece that we don't know about.
videodawn
04 Jul 2015
Re: Who owns ABTOG These new ABTOG dormant accounts are a bit odd. Are they saying that ABTOG spent nothing to set up the MOU with WGPNS up to June 2014?
videodawn
04 Jul 2015
Re: Who owns ABTOG I am sorry to disagree W2R, but ABT Oil and Gas Ltd (ABTOG) only a few days ago was in default for not submitting accounts to CH and was 3 months overdue last Thursday and I posted that factMiraculously a set of "Dormant" accounts for the year to 30 June 2014 were submitted to remedy the position and so it is now a dormant company from a historical reporting standpoint. It does not explain why RMRI think they are the JV partner rather than Advanced Buoy Technology (ABTechnology) Ltd or Energi Oil plc , but that might be bravado at RMRI?Perhaps the annual return due on 16 July will explain it all ?If I were a potential consortium partner, I might have more questions than answers.
Work2Rule
04 Jul 2015
Re: Who owns ABTOG As a long term holder I thought you would have known.Advanced Buoy Technology (ABTechnology) Ltd, owned by Alan Minty (1,000 shares) and RMRI Ltd (14,000 shares) is a 50% shareholder with Enegi Oil Plc in ABT Oil and Gas Ltd.RMRI Ltd is owned by the Minty family with Alan holding 20,000 shares Sheila 17,500 sharesand Damian 6,250. Dominic also has 6,250 shares and he along with Alison Pegram are the company officers.Accounts are up to date and the next set on all are due in March next year.ABT Oil and Gas annual return is due to be filed on 16.7.15Advanced Buoy Technology annual return is due 10.2.16Enegi Finance Ltd next accounts are also due in March 2016 but they should have filed their annual return by 5th June, they may have done so already but its not recorded yet.Hope this helps
videodawn
04 Jul 2015
Who owns ABTOG According to Enegi PLC it is a JV between Enegi and Advanced Buoy Technology LtdAccording to the RMRI website it is a RMRI JV[link] who really owns ABTOG now? Hard to know with no filings at Companies House.And why has RMRI plc opted to become a limited company in April this year, after several attempts to Gazette a striking off notice?
videodawn
02 Jul 2015
Re: Referendum imminent Some more questions....Q4 Do you want ABT Oil & Gas Limited to prepare and submit a set of accounts to Companies House, now 3 months overdue?Q5 Do you want Enegi Finance Limited to submit its annual return to Companies House, now 1 month overdueQ6 Who will buy a diary for the company secretary?
wreckage
01 Jul 2015
Referendum imminent It is presumed that ENEG failed to make the payment on 30 June and is now in Default. However the CEO is now expected to hold a referendum to ascertain the the mood of the shareholders. this to be held on the 5 July once the wording on the Ballot sheet has been decided.Suggestions as to the precise wording will be considered.Q1 Do you want ENEG to Continue Yes/NoQ2 Do you want AM at the helm Yes/NoQ3 Are you of sound mind to make such a decision No/Yes
videodawn
30 Jun 2015
Re: not that long ago The banks are now closed for the day and the £1.54 million Shard Capital loan term has expired. No RNS. Very odd.
Push2Gush
30 Jun 2015
not that long ago This was trading at 25 fold today's price and some,,, geezzzz those were the days... makes you wonder just how the heylll they managed to kill this so badly,, suppose they will just blame oil prices, nowt to do with them lol...25 X GEEEZZ
videodawn
28 Jun 2015
Re: A Fyne state of affairs KEA cannot possibly do anything useful as an oil company with the £1 million, even if they manage to sell the offering to anyone. As of today it is a puny investment company hoping to back into a cash shell on AIM, irrespective of what it does. Buy-to-let student accommodation might be their best bet for salvation. How the mighty fall?Actually the comparison with ENEG is chillingly close. Both failed to make money from an onshore small oil field on a remote island in the Commonwealth. Both failed for reservoir reasons which they were unable to solve, and decided to flogg off their original purpose for a song.Offshore licences were lost by both through inability to meet licence commitments.Working capital ran out in both of them. Creditors owed more than the the market cap of the companies. Directors never saw the cliff before they drove over it.Capital restructuring and EGM required to avoid the appointment of a liquidator.Minty has two days to save the world. Can he do it in this market? I bet he is cursing the Greeks.Manchester is not a bad place to let student digs, though?
