Anglo African Oil & Gas Share Discussion Threads

[buffythebuffoon] 11/12/2017 10:56

P.S. There is no evidence whatsoever that our partner won’t fund its share. However, failure to perform will be written in to the contract, and I’m sure we can raise the money to go it alone if necessary.

Buffy

[buffythebuffoon] 11/12/2017 10:54

If you have spare cash, this situation has thrown up one of the best short term returns you are likely to find.

If you look at the market cap and then look at the value of the undrilled assets you’ll see the size of the opportunity.

Obviously, if you are highly leveraged with not much spare cash, you will be annoyed at the ongoing delays and lack of performance so far, but it will all come to fruition. The sentiment of posters like dim3, or whatever he calls himself, will turn on a sixpence when the time is right. Anybody who even bothers to read his posts really need to find something better to do.

Buffy

[honestmarty] 11/12/2017 09:55

The clue is in the ‘its share’ comment in regards to costs.

Why do I suspect that this will be an issue?

[cashandcard] 11/12/2017 09:45

"The Company has managed its cash resources carefully, and continues to do so. It has sufficient capital to meet its share of the costs of drilling TLP-103"


I think it goes without saying, there may well be a raise to ensure sufficient 'PLC' funds prior to drilling, but I expect that to be on the back of rig announcement. Has the potential outcome on TLP103 changed, no! Shareholder value? well, even with a bit of dilution, still one of the best prospects out there imo.


Cash

[ambitive786] 11/12/2017 09:39

Sefton is disgraceful!!

[2prsimo] 11/12/2017 09:02

a 3-bagger just for delivering a rig to its drill-site - I doubt it but you never know on AIM

[sunnybeachboy] 11/12/2017 08:58

Will still be 30p once rig on site.

[donald tramp] 11/12/2017 08:41

neo

It's AIM, the whole thing is corrupt, there will be a placing around 8p in the not too distant future (about 2 months) to let all their mates in, then there will be a rig announcement then you will see a rise.

[timw3] 11/12/2017 08:40

NEO you were calling a placing recently. You changed your tune now you bought?

[donald tramp] 11/12/2017 08:21

"delay is unfortunate"

I'm sorry but these so called directors of the company should have looked at all the possibilities months and months ago and had it all boxed off before they even started to promise to drill these wells. A different rig should have been chosen from outset as they were clearly not getting the rig they wanted as they didn't have any contracts signed on it anyway and now they are fluffing it up to look like they are in the driving seat and saying "we won't sign a contract till we have firm dates"

These lot are a bunch of clowns. They came across as arrogant "fat cats" in the interview they did months ago.

Proven correct.

[neo26] 11/12/2017 08:10

They are between two large proven fields, the horizons that they will drill are proven producers in those nearby fields.Delay is unfortunate, assets and cash certainly value us greater than 7m. I feel for leverage holders it's the way it is...

[money4me] 11/12/2017 08:03

it only a bargain if it actually makes money.small punt thankfully

[timw3] 11/12/2017 07:58

placing coming will be a lot lower imo

[neo26] 11/12/2017 07:57

Everyone knew it wouldn't be until jan.Mkt cap only 7m now, bargain prices.

[timw3] 11/12/2017 07:46

Lowie 💯‏
@SLowie100
Following Following @SLowie100
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Replying to @power_thompson
Multiples from what level though, 7-10p maybe but that’s still only pretty much IPO price. Good luck to those locked in but I feel there’s more pain to come here

[timw3] 11/12/2017 07:46

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Yes and averaged down <14p. Not decided what to do now, but this RNS is an absolute shocker. I know you'll say writing was on the wall, but if they had managed to get the rig in December this could still have been a decent play. Now I just think it's running out of cash #AAOG
\

[timw3] 11/12/2017 07:45

from twitter

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Dreadful RNS from #AAOG (again) compounded by quote from Sefton. Why on earth did he think it a good idea to highlight news that was announced 10 weeks ago as something he has "now done"?

Abysmal performance from a company, which held so much promise.

[deanmatlazin] 11/12/2017 07:45

Drop to 10p

[soulsauce] 11/12/2017 07:43

We knew it wouldn't be til January anyway most of us said that. Point is it will still happen and a lot of upside from here to the drill.

[money4me] 11/12/2017 07:39

disappointing as usual

[donald tramp] 11/12/2017 07:16

Well the waffle reads this:Worried that licence will expire so now need to extend itThey don't have a drill contract signed yet as no firm date when the rig they want is available so now having to look elsewhere.Existing well work over has done nothing no increase production and won't be looked at till after they drill the new well.Anyone who reads rns any different is sadly deluded.I'm still not taking a position further falls in share price are coming.

[neo26] 10/12/2017 15:47

not really, the well will be drilled once the rig is free this was early last week.

Dear Neo,

Thank you for the email, and I can confirm that the rig we want to use is still under contract with a major oil company and that we aim to take that rig once it becomes available.

In respect of SNPC’s share of the costs, we have not been informed by them that they will not meet the capex call, but we wanted to be clear as to our funding position to the market. Since the entire purpose of AAOG is to drill the new well and prove out the Djeno and Mengo layers I do have a contingency plan in case SNPC could not meet its share as it is my most important responsibility to ensure that the new well is drilled as soon as possible and I cannot allow a situation to develop where that does not happen.

We will provide an update to the market soon and in the interim I hope that the above helps.

Kind regards,

David Sefton
Executive Chairman