t/o target

Far T/0 target

is Far being positioned to be used as a Back door listing for Africa Petroleum to gain ASX status.

Now that SAGE and Timis have joined forces together Through Africa Petroleum which is currently listed on the NSX since April 2010,
the problems with relisting Africa Petroleum on the ASX could be solved by a simple Africa Petroleum T/O of FAR , which could give TIMIS and sage a 50 % ownership of FAR and give the two directors control of an ASX listed Company a further 6 leases in Africa and 37 million in cash,
Would M.E be privy to this and in agreement ?


Considering Bluegold is a major Shareholder Through HSBS Custody Nominees and is the number one shareholder in FAR as well as number 2 in Africa Petroleum l would say M.E is fully aware of the connection.

Have a look at the similarities between the Top 20 of the 2 companies mostly nominees but behind these Nominees would be the same holders IMO.

Top 20 similarities.

FAR top twenty

HSBC Custody Nominees (Australia) Limited 160,864,923 12.927
Citicorp Nominees Pty Limited 115,036,260 9.244
JP Morgan Nominees Australia Limited 50,080,656 4.024
National Nominees Limited 37,426,944 3.008


Africa Petroleum Top 20

(Frank Timis) Sarella Investments Limited 630,816,987 47.39
HSBC Custody Nominees (Australia) Limited 247,325,955 18.58
National Nominees Limited 62,597,556 4.70
Citicorp Nominees Pty Limited 35,518,701 2.67
J P Morgan Nominees Australia 3,458,639 0.26



The following are a few articles showing that ASX is concerned of TIMIS being involved in a company on the ASX but the second article describes that Sage and Timis may now be preparing African Petroleum to re-list on the ASX after winning appeals heard by the ASX Appeals Tribunal,


ASX blocks Timis's listing of African Petroleum
April 06, 2010 3:47PM

MINING identity Frank Timis's plans to list his African Petroleum on the Australian Securities Exchange have run into trouble, with the ASX halting Global Iron's planned backdoor listing of the company.

Global chaired by Perth mining mogul and good friend Tony Sage today said the ASX would not list Global if the $500 million deal went through, despite Global receiving commitments for $130m of a proposed equity raising for the acquisition.

Global, which last traded on March 25, said it would appeal the ruling and requested its shares remain suspended until the appeal was heard.

But the ASX disallowed the request with the view the market was fully informed and Globals securities emerged from suspension, last trading flat at 45c.

The Perth-based company said the ASXs decision centres on concerns over the influence Timis will have on the companys continuous disclosure obligations
Timis, who would become an executive director and substantial shareholder of the new ASX entity to be renamed African Petroleum Corporation, is most famous for his time at London-headquartered firm Regal Petroleum.

Romanian-born Timis was chairman at Regal and left after it was fined by regulators following a share price crash in 2005 when it emerged that its giant oilfields were unviable.

It was also reported in Londons The Times late last year that the London Stock Exchange put the brakes on Timis's plans to float African Petroleum on the Alternative Investment Market, or AIM.

Timis is still the chairman of African Minerals, the largest mining company on AIM and largest equity holder of Sage's other listed vehicle, Cape Lambert Resources with about 20 per cent.

But Global said Timis would not sit on a continuous disclosure committee it planned to form and would not be responsible for approving or determining when an announcement should be issued.

In a move to appease the ASXs disclosure requirements, Global today also said it had received $130m of commitments from leading UK-based instituions.

Global claimed this was an indication of the support from institutional investors as to Mr Timis involvement with the company.

The raising is to be done at 55c to raise up to $230m. But the firm is now in a race against time, with the commitments from UK institutions possibly lost if the transaction is not done by April 30.

In more bad news for Sage, the ASX today also said it would not allow International Petroleum's securities back into quotation unless it aborts its deal to acquire Timis's privately-held Eastern Petroleum.

In an almost identical release, the ASX said its concerns centred on Timis and disclosure issues.

The similar backdoor listing would give Timis about 70 per cent of International Petroleum, formerly known as International Goldfields.

International, which Sage also chairs, hasnt traded since November 23 when it fetched 33.5c.

Cape Lambert is the biggest shareholder of Global and International Petroleum, and he also owns about 11 per cent and 1 per cent of each respectively.

Sage holds about 5 per cent of Cape Lambert.


Sage to delist two entities
The West Australian September 1, 2010, 11:10 am


Two companies led by Perth mining identity Tony Sage, African Petroleum Corporation and International Petroleum, will be removed from the official list of the Australian Securities Exchange on September 3.

The companies confirmed last Friday they would de-list from the ASX, leaving them listed on the National Stock Exchange, which caters for small to medium and high-tech companies.
Mr Sage first threatened to de-list the companies from the much bigger ASX in April.

This came after the ASX blocked International Petroleum's deal to acquire Eastern Petroleum, which was privately held by colourful businessman Frank Timis, saying the merged entity may not comply with its disclosure obligations.

The ASX in late March prevented African Petroleum from backdoor listing on the bourse due to Mr Timis' involvement.
African Petroleum was acquired in February by Global Iron, a firm 19.6 per cent held by Mr Sage's Cape Lambert Iron Ore, but retained the African Petroleum name.

African Petroleum and International Petroleum in June won appeals heard by the ASX Appeals Tribunal, but decided not to re-list on the ASX as conditions for doing so were deemed unachievable or not in the best interests of shareholders.

The companies said they decided to de-list from the ASX to avoid "the distractions caused by the questions and queries raised by the ASX to determine whether to re-quote the company and, if so, any conditions that will be imposed on the company for it to be readmitted to quotation".