Anglo African Oil & Gas Share Discussion Threads

[neo26] 27/12/2017 15:18

If the rig is available in Jan expect rns within 2weeks.Interesting month for aaog, there credibility is on line now..

[davidspringbank] 27/12/2017 13:05

I would prefer a more steady and sustainable rise.

[sunnybeachboy] 27/12/2017 09:23

More like 100%. As long as rig contract is signed.

[ayesha4] 27/12/2017 08:19

January 2018 could see these deliver 50% plus gains.

[neo26] 22/12/2017 23:06

David Sefton question and answers to shareholders



DS: All the executive directors have had their salaries maintained at the reduced rate set out in their contracts because production targets have yet to be met. No other ex gratia payments have been made, and outstanding consultancy fees of £90,000 each have been deferred indefinitely pending a substantial increase in production.

DS: AAOG has identified the rig which it considers to be most suitable for drilling TLP-103. This rig is new and has been further upgraded by the current client, a major international E&P company. We have been assured by both the rig company and the client that it will be available in January.

We have a very good relationship with SNPC and they are supportive of AAOG and its plans for Tilapia.

DS: In our recent RNS we confirmed the working capital position, with enough capital allocated from the IPO to drill TLP-103 and cannot really add to that here.

[neo26] 22/12/2017 21:06

CashandcardsYes having an robust trap is needed, I am hoping the seal is intact.With soco and eni both finding oil in this horizon in there nearby fields it gives me the shivers. Seismic data is showing positive charge so there is pressure and seal does seem to be intact, we will only know when they drill.Very likely it's hydrocarbons and not fizzy water...David Sefton in the interview is maintaining they have funding to drill 103 well.Mkt cap 8m and potential 56m boe in field.

[neo26] 22/12/2017 16:54

Yup, the oil company drilling and rig operators both assured us the rig will be available in Jan...Action time...

[sunnybeachboy] 22/12/2017 16:50

Oil company and rig operator both confirm the rig will be available in January. Happy days merry Xmas to all and catch you Wednesday!

[purple11] 21/12/2017 14:13

letitmove@round gl

[neo26] 21/12/2017 12:08

Aaog moving nicely...

[sunnybeachboy] 20/12/2017 16:50

Rig contract expected to be annouced in january. As soon as sefton mentions rig contract signed boom we are 22 -28p. Rig onsite 30p+ spud anyones guess... up to 60p.

[davidspringbank] 20/12/2017 16:03

bg

It's money for old rope isn't it (what they call a no-brainer) these days. Lol

[bad gateway] 20/12/2017 15:28

Quite like the chart pattern here. Appears to be a decent example of an ascending triangle with the bonus of a gap to aim for if it does break to the upside.
Picked a few up to have some skin in the game..

free stock charts from uk.advfn.com

[sunnybeachboy] 20/12/2017 14:43

Not many trading days left this year.
Tomorrow and half day friday. Then 27/28.

[neo26] 20/12/2017 14:40

We are due rns by next week with update on license renewal..

[cashandcard] 20/12/2017 11:58

It needs to be confirmed yet, whether the Djeno sands have a robust trap at this location and are oil bearing. Of course, if it comes in as expected, there will be huge value-unlock here and the shareprice will take off.


Cash

[davidspringbank] 20/12/2017 11:18

neo

I think they are going to transform this company when they drill the next well with a massive increase in production. That's going to give them sufficient funds to introduce dividends, etc, and to improve the business.

[neo26] 19/12/2017 17:38

DavidEither agog are lying or this is very very positive. They are saying the djeno has hydrocarbons but didn't have the techniques to extract it then back in 2007, recently soco and eni have said manage to extract oil from djeno using the fishing technique. The first time fishbone technique was used was in 2013 in Indonesia. I too am very positive can't wait for the drill, mkt cap only 7.5m can easily 10 fold if they find oil in djeno...IMHO

[davidspringbank] 19/12/2017 15:06

neo

I'm going to hang on to the shares I've got now. I've got a good feeling about this.

[neo26] 18/12/2017 21:43

Within the Tilapia Field, developments in seismic techniques have recently been able to interpret the presence of hydrocarbons in the Djeno Sands, which lie below the pre-salt layer. In neighbouring fields ENI, SOCO International and Oryx are already producing or in the final stages of testing prior to production from the Djeno Sands.

The seismic material indicates that the Djeno Sands have high volumes of reserves, and the presence of hydrocarbons in the AAOG block is confirmed with conventional flow rates. This was not brought into production within Tilapia when originally tested because the necessary techniques to kick-start production did not then exist.

The Djeno Sands have been shown to have reservoirs that, in neighbouring fields, have been in production since 2013, with production of 4,750-5,000 bopd per well. These other fields have enjoyed high flow rates, which are caused by the oil layer itself being naturally pressurised by lower lying high-pressure gas deposits.

=====================================

The Djeno on the seismic material is showing presence of hydrocarbons, recently eni and soco have been able to produce from this horizon with new techniques available, aaog will use fishbone technique. Mkt cap only 7.4m and potential 58m boe..

Fantastic opportunity...

[davidspringbank] 18/12/2017 19:49

They are going to need a constant supply of tested water to the drilling site and I'm talking about thousands and thousands of gallons. They will hopefully have water tankers lined up for the job. They will need diesel, etc. There's a lot of question marks here, but I guess they know what they are doing. This time delay in getting the rig has probably helped them a lot. Time will tell.

Anyway, things are looking exciting for 2018 and I wish them all the best of luck. This could be transformational for the company and for the share price

[neo26] 18/12/2017 19:34

I think the drilling equipment was bought prior to the planned drilling back in Sept.They want to use the same rig the large oil company is using so that should be positive..

[davidspringbank] 18/12/2017 19:08

Neo

I hope they've got all their ducks in a row. I hope they've ordered all the gear they are going to need in order to complete this well. Have they prepared the road to the site and the pad for the drilling rig on 103? They will need a large secure area set aside for the mud pumps and mud tanks, chemicals, logging unit, cement pumps and all the rest of the equipment required to drill and test the well. They will also need a secure camp away from the rig in a safe area for the workers to eat and sleep. 24 hr operations.

I think its a no-brainer to go for the biggie when they get the rig and the crew, as long as it and they are capable of doing the job. That will put a floor under the share price and give some breathing space. I think they intend to use the same rig for the workovers too. I hope they've got two experienced drilling supervisors, working back to back, ready to go.

Meanwhile, they need to replace the choked surface line from the wellhead to the separator and get it fully tested.

Fingers crossed that they know what they're doing.

Good luck everyone!