Who is Allen D Howard?

  • Fact 1, he was appointed to UKOG on March 1st 2017.

  • Fact 2, he is the Chairman of UKOG, see the annual review and accounts for Year end 30th Sept 2020.

  • Fact 3: Allen stated the following in that annual accounts: "From my base in Houston, Texas, I am in constant communication with Stephen Sanderson and his team. In addition, I monitor various chatrooms and blog sites and I read some of the frustration about the falling share values"

  • Fact 4: He was paid £54,000 in the YE 2020, was paid £60,000 in the previous year, so a 10% reduction. 

  • Fact 5: He did not receive any bonuses or pension payments in 2020 or 2019, but he did have £29,000 in share based payments in 2019. 

  • Fact 6: He has 15 million share options (10m at 1.15p and 5m at 1.3p). I doubt that he is in a rush to buy those at a massive loss. 

LinkedIn Image

The Big Issue!

As reported in the YE results RNS:
"In February 2019 the UK Oil & Gas Plc engaged Apex Completions, LLC (Apex) as a consultant to the Company. Allen Howard, UKOG's Non-Executive Chairman, is a Director of and a shareholder in Apex and, as a result, the Agreement is considered a related party transaction. Apex was engaged to help the Company further develop its understanding of the Portland and Kimmeridge reservoirs. The Agreement provides for Apex to periodically invoice the Company for work carried out based upon the time spent by its personnel. During the year Apex charged consultancy fees of £82,000 (2019 - £531,000)."

I find it rather difficult to accept that relationship. It seems very odd that Apex solutions have invoiced UKOG £613,000 for services, yet there have been no RNS's to state what was provided. The relationship is not fully disclosed to shareholders. What did Apex actually do? Where is the paperwork showing their services? Where is the evidence that UKOG upheld a clear and fair procurement process to select a partner? It's bad show on UKOG part; this really does create concerns and is an illustration of failing to uphold integrity. 

Allen D Howard's Profile

As presently detailed on the UKOG web-site:

"Mr Howard has extensive experience in the oil sector he was previously a Senior Vice President of Houston-based Premier Oilfield Laboratories, and Chief Commercial Officer of well analysis experts Nutech. Mr Howard also held senior positions with Schlumberger. He holds a degree in Chemical Engineering from Texas Tech University and an MBA from Mays Business School in Texas."

LinkedIn Summary:
According to LinkedIn (https://www.linkedin.com/in/allen-howard-ii-773670b) , it would appear that Allen Dee Howard left Premier Oilfied Laborartories in March 2018. LinkedIn also details that he is President and CEO of PetroScale Reservoir Solutions, based in Houston, Texas.

PetroScale Reservoir Solutions Graphic
President & CEO
PetroScale Reservoir Solutions
May 2018 - Present3 years 1 month
Houston, Texas

 

UK Oil & Gas Investments plc Graphic
Non Executive Chairman
UK Oil & Gas Investments plc
Mar 2017 - Present4 years 3 months

 

The final issue: Why is Allen Dee Howard not detailing in LinkedIn that he is a Director of Apex? Why is he no longer at NuTech? A final point; he was only an engineer at Schlumberger and did not hold a senior position there.