Storm brewing for Jean-Felix Obamba at Stream Oil

摘要

Matters have been somewhat topsyturvywithin Gabonese junior Stream Oil’ssenior management since the beginningof the year. Company chairman Jean-FelixObamba, a close acquaitance of PresidentAli Bongo ( AEI 794), has accused thedirectors of his former financial partnersOcial Commodity Trading andCompagnie financiere industrielle duLuxembourg of wrongly presenting themselvesas shareholders and board membersof Stream Oil, operator of the Owalifield. Obamba, who was also chief executiveof Gabon Oil Co as well as deputyMD of Perenco, believes that Ocial CEOMichael Adrian Faraday and Compagniefinanciere boss Robert Firquet, registeredthemselves under the British companiesregistry in 2017 as holding these functionsto receive earnings from a project inGabon. Obamba sought action againstFaraday and Firquet in Canada, wherethey both live. In early September 2018,Quebec’s high court ruled that the matterfalls under British jurisdiction only. As thecase waits to be picked up by London,Faraday and Compagnie financiere haveleft Stream Oil’s management.