We have evidence to prove that FHL is already paying a hefty $500,000 monthly management fees to Hindustani Petroleum Company.
This is the company FHL commissioned with a management contract to manage the BP operations.
Late last month, Sereana Qoro announced that the same Hindustani Petroleum Company will own 25% while FHL will take the remaining 75% shareholding in FHL Energy Limited, their subsidiary company created for the purpose of buying BP Oil.
It was a sudden announcement aimed at hogwashing the public.
The reality was that FHL was having problems paying up their half a million monthly management fees to Hindustani Petroleum and were forced to offer equity instead of paying cash.
FHL’s once healthy cash reserves was quickly depleting given the ridiculous monthly management fees they were paying to Hindustani Petroleum, quite apart from the US$10 million plus another $5million non-refundable deposit already paid out to BP Oil.
Millions was pouring out from FHL’s shrinking purse with nothing to show for and that, we are told ,was another reason why the FHL board decided to sell off their cash cow Fosters stocks – to pay their monthly fee to Hindustani Petroleum Limited for setting up a failed deal.
If someone was stealing my livelihood and that of my family, I’d do something about it.
I’d even consider paying someone to take care of it for me !