Tony Buckingham

Last updated
Tony Buckingham
Anthony Leslie Rowland Buckingham
Occupation Businessman
Known forHeritage Oil
Net worthSteady2.svg £425 million (May, 2019)

Anthony Leslie Rowland "Tony" Buckingham is a former North Sea oil-rig diver [1] and is currently an oil industry executive with a significant share holding in Heritage Oil Corporation. Heritage is listed on the Toronto Stock Exchange since 1999. In 2008, Heritage listed on the London Stock Exchange. [2] Buckingham's direct and indirect share holding is estimated to represent 33% of Heritage. This share was reduced in November 2007 via a share placement made through JP Morgan and Canaccord.

Heritage Oil Jersey-based oil and gas exploration and production company

Heritage Oil is an independent Jersey-based oil and gas exploration and production company. Its activities are focused on Africa, the Middle East and Russia. In June 2014 the company was acquired by a fund owned by the former chief executive of Qatar's sovereign wealth fund.

Toronto Stock Exchange stock exchange in Canada

The Toronto Stock Exchange (TSX) is a stock exchange in Toronto, Ontario, Canada. It is the 9th largest exchange in the world by market capitalization. Based in the Exchange Tower in Toronto's Financial District, the TSX is a wholly owned subsidiary of the TMX Group for the trading of senior equities. A broad range of businesses from Canada and abroad are represented on the exchange. In addition to conventional securities, the exchange lists various exchange-traded funds, split share corporations, income trusts and investment funds. More mining and oil and gas companies are listed on Toronto Stock Exchange than any other stock exchange.

London Stock Exchange Stock exchange in the City of London

London Stock Exchange is a stock exchange located in the City of London, England. As of April 2018, London Stock Exchange had a market capitalization of US$4.59 trillion. It was founded in 1571, making it one of the oldest exchanges in the world. Its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London. It is part of London Stock Exchange Group (LSEG).


According to the Sunday Times Rich List in 2019, Buckingham is worth £425 million. [3]

The Sunday Times Rich List is a list of the 1,000 wealthiest people or families resident in the United Kingdom ranked by net wealth. The list is updated annually in April and published as a magazine supplement by British national Sunday newspaper The Sunday Times since 1989. The editorial decisions governing the compilation of the Rich List are published in the newspaper and online as its "Rules of engagement."

Private military background

Buckingham is a former partner of the private military company Executive Outcomes. [4] A top-secret British intelligence report stated that "Executive Outcomes was registered in the UK on September 1993 by Anthony (Tony) Buckingham, a British businessman and Simon Mann, a former British officer". [5] Buckingham denies that he registered Executive Outcomes in London and consistently denies any "corporate ties" to the defunct organisation. [6]

A private military company (PMC) is a private company providing armed combat or security services for financial gain. PMCs refer to their staff as "security contractors" or "private military contractors". Private military companies refer to their business generally as the "private military industry" or "The Circuit".

Executive Outcomes former private military company

Executive Outcomes was a private military company (PMC) founded in South Africa by Eeben Barlow, a former lieutenant-colonel of the South African Defence Force, in 1989. It later became part of the South African-based holding company Strategic Resource Corporation.

Simon Mann British military officer; Equatoguinean detainee

Simon Francis Mann is a British former Army officer and mercenary. He served part of a 34-year prison sentence in Equatorial Guinea for his role in a failed coup d'état in 2004, before receiving a presidential pardon on humanitarian grounds on 2 November 2009.

Tony, along with founder and CEO of Executive Outcomes, Eeben Barlow, Deputy CEO Lafras Luitingh and Simon Mann were the executive officers of Ibis Air, a separate partner company that was the aircraft procurement organisation that owned and operated many aircraft for EO and essentially operated as their private air force. Ibis Air could also access Soviet-era fighters and strike aircraft from the Angolan Air Force. [7] [8] [9]

An executive officer (CCE) is generally a person responsible for running an organization, although the exact nature of the role varies depending on the organization. In many militaries, an executive officer, or "XO", is the second-in-command, reporting to the commanding officer. The XO is typically responsible for the management of day-to-day activities, freeing the commander to concentrate on strategy and planning the unit's next move. Function of Executive officers

Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.

National Air Force of Angola Aerial warfare branch of Angolas armed forces

The National Air Force of Angola or FANA is the air branch of the Armed Forces of Angola.

He has had no involvement with such organizations since 1999 [10] and has spent his time running Heritage Oil of which he is the founder and former CEO. He was appointed to the board of directors in early 2008, coinciding with the company's listing on the London Stock Exchange. [11] [12] [13]

Chief executive officer Highest-ranking corporate officer or administrator

The chief executive officer (CEO), or just chief executive (CE), is the most senior corporate, executive, or administrative officer in charge of managing an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and even some government organizations. The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc.

Board of directors Board composed of directors

A board of directors is a group of people who jointly supervise the activities of an organization, which can be either a for-profit business, nonprofit organization, or a government agency. Such a board's powers, duties, and responsibilities are determined by government regulations and the organization's own constitution and bylaws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet.

He was part of the Valentine Strasser coup in Sierra Leone and was part of a group of mercenaries defending the National Provisional Ruling Council (NPRC), which later collapsed. To this day his name is still linked to these events and the fall of the government. [14]

Valentine Esegragbo Melvine Strasser is an ex-military leader who served as head of state of Sierra Leone from 1992 to 1996. He had been a junior military officer but in 1992, he became the world's youngest Head of State when he seized power three days after his 25th birthday. He was the leading member in a group of six young Sierra Leonean soldiers who overthrew president Joseph Saidu Momoh in the 29 April 1992 military coup. They established a military junta called the National Provisional Ruling Council (NPRC).

Oil background

Buckingham, the former CEO and major shareholder of Heritage, has led the company through exploration finds, including the hydrocarbon system in Lake Albert, Uganda and the M’Boundi oilfield in the Republic of Congo. There are recently awarded licenses in the Iraqi Kurdistan and Mali. [15]

Heritage Oil's subsidiary, Heritage Oil and Gas, drew attention in the 2016 publication of the Panama Papers. Emails among the Panama Papers documents showed how Heritage Oil and Gas Ltd re-domiciled itself to avoid paying $400m (£280m) in capital gains Tax to the Ugandan government. [16]


Anthony Buckingham became the controlling shareholder and director of DiamondWorks when DiamondWorks' acquired a private company, Branch Energy Ltd., based on the Isle of Man for US$24.4-million in 1995-6. Branch Energy Ltd had a mining lease on the diamond-bearing Koidu property in Sierra Leone. In the early 1990s Buckingham's military consultancy was retained by Sierra Leone and Angola to provide mercenaries to improve security conditions for foreign mining companies. His Executive Outcomes (EO) provided protection to DiamondWorks. Executive Outcomes (EO) and DiamondWorks shared offices in London with Sandline International, another military consultancy. London-headquartered, Johannesburg-based diamond exploration company DiamondWorks Ltd. (TSX: DMW) was one of three junior mining firms that traded on Canadian stock exchanges, (along with Toronto-based AmCan Minerals and Rex Diamond) that contacted Sierra Leone President Joseph Saidu Momoh in the early 1990s when the president was seeking new investors. DiamondWorks was "an outgrowth of Carson Gold and Vengold, companies promoted by Eric and Robert Friedland. DiamondWorks and Branch Energy became "the subject of widespread interest because of their apparent but much-denied connections with two major international security firms, Executive Outcomes and Sandline." It has been argued that "regardless of Executive Outcome’s own purpose, its involvement in Sierra Leone was in a good cause. EO successfully protected a democratically elected government against a brutal and illegitimate rebel force." Buckingham resigned from DiamondWorks in 1998, retaining a 25 per cent share. [17] [18] [19]


Buckingham is an avid and accomplished sailor, competing on behalf of Great Britain on many occasions. [20] [ citation needed ] He has won many trophies at various regattas including Cowes Week. He won the Commodore's Cup in 2000. [21] His yachts are usually named after the Ngoni people.

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Sierra Leone republic in West Africa

Sierra Leone, officially the Republic of Sierra Leone, informally Salone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea to the northeast. Sierra Leone has a tropical climate, with a diverse environment ranging from savanna to rainforests, and a total area of 71,740 km2 (27,699 sq mi) and a population of 7,075,641 as of the 2015 census. The capital and largest city is Freetown, and the country is divided into five administrative regions, which are further subdivided into sixteen districts.

Mercenary Soldier who fights for hire

A mercenary, sometimes known as a soldier of fortune, is an individual who takes part in military conflict for personal profit, is otherwise an outsider to the conflict, and is not a member of any other official military. Mercenaries fight for money or other forms of payment rather than for political interests. Beginning in the 20th century, mercenaries have increasingly come to be seen as less entitled to protections by rules of war than non-mercenaries. Indeed, the Geneva Conventions declare that mercenaries are not recognized as legitimate combatants and do not have to be granted the same legal protections as captured service personnel of a regular army. In practice, whether or not a person is a mercenary may be a matter of degree, as financial and political interests may overlap, as was often the case among Italian condottieri.

Blood diamond diamond mined in a war zone and sold to finance an insurgency, an invading armys war efforts, or a warlords activity

Blood diamonds are diamonds mined in a war zone and sold to finance an insurgency, an invading army's war efforts, or a warlord's activity. The term is used to highlight the negative consequences of the diamond trade in certain areas, or to label an individual diamond as having come from such an area. Diamonds mined during the recent civil wars in Angola, Ivory Coast, Sierra Leone, Liberia, Guinea, and Guinea Bissau have been given the label. The term conflict resource refers to analogous situations involving other natural resources.

Sandline International former private military company based in London

Sandline International was a private military company (PMC) based in London, established in the early 1990s. It was involved in conflicts in Papua New Guinea in 1997 and had a contract with the government under then-Prime Minister Julius Chan, causing the Sandline affair. In 1998 in Sierra Leone Sandline had a contract with ousted President Kabbah and in Liberia in 2003 was involved in a rebel attempt to evict the then-president Charles Taylor near the end of the civil war. Sandline ceased all operations on 16 April 2004.

Tony Baldry British politician

Sir Antony Brian Baldry, is a British Conservative Party politician who was the Member of Parliament (MP) for Banbury from 1983 to 2015.

Timothy Simon "Tim" Spicer, is a former British Army officer, and former chief executive officer of the private security company Aegis Defence Services. He is a veteran of the Falklands War and also served with the British Army in Northern Ireland. He became well known as the founder of Sandline International, a private military company which closed in April 2004.

Koidu Place in Eastern Province, Sierra Leone

Koidu Town is the capital and largest city of the diamond-rich Kono District in the Eastern Province of Sierra Leone. The population of Koidu Town is 124,662 based on the 2015 Sierra Leone Census. Koidu Town is the fifth largest city in Sierra Leone by population, after Freetown, Kenema, Bo and Makeni. Koidu Town is a major urban, business, commercial and diamond trade center. Koidu Town lies approximately 270 miles east of Freetown, and about 54 miles north of Kenema.

Sierra Leone Civil War civil war between Commonwealth-backed government and rebel factions

The Sierra Leone Civil War (1991–2002) was a civil war in Sierra Leone that began on 23 March 1991 when the Revolutionary United Front (RUF), with support from the special forces of Charles Taylor’s National Patriotic Front of Liberia (NPFL), intervened in Sierra Leone in an attempt to overthrow the Joseph Momoh government. The resulting civil war lasted 11 years, enveloped the country, and left over 50,000 dead.


The Kamajors were a group of traditional hunters from the Mende ethnic group in the south and east of Sierra Leone. The word "Kamajor" derived from Mende "kama soh", meaning traditional hunter with mystical powers, who were originally employed by local chiefs.

Lomé Peace Agreement human settlement

The Lomé Peace Agreement was a peace agreement signed on 7 July 1999 between the warring parties in the civil war that gripped Sierra Leone for almost a decade. President Ahmad Tejan Kabbah signed with the Revolutionary United Front (RUF) leader, Foday Sankoh and granted Sankoh a position in the transitional government as well as amnesty for him and all combatants. The accord is named for Lomé, the capital of Togo, where the negotiations took place and the agreement was signed.

Aegis Defence Services is a British private military and private security company with overseas offices in Afghanistan, the United Arab Emirates, Iraq, Saudi Arabia, Libya, Somalia and Mozambique. It is part of the Aegis Group of companies, which includes Aegis LLC, which is based in the United States. It was founded in 2002 by Tim Spicer, who was previously CEO of the private military company Sandline International; Jeffrey Day, an entrepreneur; and Mark Bullough and Dominic Armstrong, former investment bankers.

Titanium mining in Africa has been beset by environmental problems due to the polluting nature of processing rutile, a principal titanium ore. Titanium production in Africa includes the following principal countries and companies.

The Sierra Leone Selection Trust was formed in 1934 following an agreement between the government of British Sierra Leone and the Consolidated African Selection Trust Ltd (CAST). CAST was formed in 1924 and was part of a much larger mining finance house Selection Trust Ltd which had been founded in 1913 by Alfred Chester Beatty (an American mining magnate. Although the Oppenheimers invested in CAST and its subsidiaries from the 1920s and had boardroom representation, CAST was independent of the Oppenheimer empire. SLST corporation which had exclusive mineral mining rights in Sierra Leone beginning in 1935 was scheduled to last for 99 years. In 1955, the SLST abandoned mineral mining and settled on mining the Yengema and Tongo Fields. However, with the creation of the Sierra Leonean parastatal National Diamond Mining Company in 1971, the diamond company was effectively nationalized, ending the SLST in Sierra Leone.

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Jean-Raymond Boulle, COR is the founder of four publicly traded companies with deposits of nickel, cobalt, copper, zinc, titanium and diamonds.

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  1. Roberts, Adam (2009). The wonga coup : Simon Mann's plot to seize oil billions in Africa (Rev. ed.). London: Profile. p. 6. ISBN   9781846682346 . Retrieved 23 July 2015.
  3. Times, The Sunday (2019-05-12). "Rich List 2019: profiles 301-348=, featuring Tim Martin and Simon Cowell". ISSN   0140-0460 . Retrieved 2019-07-10.
  5. Reporter, Staff (24 January 1997). "Africa's new-look dogs of war" (Online). Mail & Guardian. Africa. Retrieved 16 July 2015.
  6. Cilliers, Jakkie; Mason, Peggy; Pech, Khareen (January 1999). "PEACE, PROFIT OR PLUNDER? The Privatisation of Security in War-Torn African Societies :- Chapter 5: Executive Outcomes – A corporate conquest p.106, №18" (PDF). ISS Africa. Institute for Security Studies in Africa. Archived from the original (PDF) on 4 March 2016. Retrieved 16 July 2015.
  7. "Executive Outcomes". Source Watch. The Center for Media and Democracy. 15 November 2006. Retrieved 16 July 2015.
  8. Cilliers, Jakkie; Mason, Peggy; Pech, Khareen (January 1999). "PEACE, PROFIT OR PLUNDER? The Privatisation of Security in War-Torn African Societies :- Chapter 5: Executive Outcomes – A corporate conquest p.88" (PDF). ISS Africa. Institute for Security Studies in Africa. Archived from the original (PDF) on 4 March 2016. Retrieved 16 July 2015.
  9. Singer, P. W. (2003). Corporate Warriors: The Rise of the Privatized Military Industry (Updated ed.). New York: Cornell University Press. p. 106. ISBN   9780801459603 . Retrieved 16 July 2015.
  10. White, Gary (26 January 2011). "Profile: Tony Buckingham, chief executive of Heritage Oil - Anthony Leslie Rowland Buckingham – or Tony to his friends – is Jersey's richest resident with an estimated £565m fortune. He's also a former mercenary provider who hates being called a mercenary" (Online). Telegraph Media Group Limited. London. Retrieved 16 July 2015.
  11. Buckingham, Tony. "Tony Buckingham: Welcome to my Blog". Tony Buckingham. Tony Buckingham, Heritage Oil. Retrieved 16 July 2015.
  12. "Heritage Oil". Heritage Oil Limited. Heritage Oil Plc. 2014. Retrieved 16 July 2015.
  13. Goodley, Simon (13 November 2011). "Profile: Tony Buckingham, chief executive of Heritage Oil: Heritage Oil was formed in the 1990s to hold oil and gas exploration interests in offshore Angola" (Online). Guardian News and Media Limited. UK. Retrieved 16 July 2015.
  15. "Heritage Oil – Overview". Heritage Oil Limited. Heritage Oil Plc. 2014. Retrieved 16 July 2015.
  16. "Panama Papers: How Jersey-based oil firm avoided taxes in Uganda". BBC News. April 8, 2016.
  17. Smillie, Ian; Gberie, Lansana; Hazleton, Ralph. The Heart of the Matter: Sierra Leone, Diamonds & Human Security.
  18. "DiamondWorks remembers its dead, in silence". MAC: Mines and Communities. 11 November 2003.Missing or empty |url= (help)
  19. Purcell, Will. "DiamondWorks remembers its dead, in silence". Stockwatch Street Wire. Canada.
  20. "Rolex Regatta Sets Stage For Second Act Of OtterBox Melges 32 Virgin Islands Sailing Series". Caribbean Regatta. Retrieved 16 July 2015.