Anglo African Oil & Gas Share Discussion Threads

[eodfire] 01/2/2018 21:51

Hopefully the rns we all want will land soon. Good to see some buying today. Confidence returning?

[money4me] 01/2/2018 08:53

another poor RNS and it will be disappearing down the pan. they have just increased the gravy train passengers so either they het on with it or it will be clear it is a sham. any potential to take on other opportunities that require extra cash would be laughable given their performance so far

[t-trader] 01/2/2018 08:34

Totally clueless outfit!

They have no idea what there doing!

Licence should have been sorted September last year, why have they waited so long?

Rig is a complete fiasco!

They have produced not one iota of positive news since inception!

Seems like this outfit was just set up to mislead and milk shareholders of there hard earned cash.

Who would invest money here? The directors can't be trusted! This has always been a high risk company, but over time this has increased 10x fold.

[neo26] 31/1/2018 23:41

i think the rig was a smoke screen, they want license extension before they commit.

They have let us down, they need to make it up, January has gone.

[pimp] 31/1/2018 17:51

Whichever way you look at it this is very high risk now. May or may not get licence. May or may not get desired rig. May or may not need additional discounted funding. May or may not find oil. I still hold but have reduced. I have a sneaky feeling if licence not granted they will move on to new pastures without attempting anything. Everything hinges on this extremely delayed licence. GLA.

[pistonbroke1] 31/1/2018 17:10

OK we shall see tomorrow will be day 1, lets just see if it arrives before 1 week is up.

[eodfire] 31/1/2018 15:25

"Days away" doesn't mean 10 as that would be one week and three days. Turning it into "weeks away".

[money4me] 31/1/2018 09:45

all those directors with nothing to direct

[pistonbroke1] 31/1/2018 09:27

"The licence is days away."

That could mean anything. 5 Days, 10 or 365. If it doesn't happen very soon we are going to lose the desired rig as it won't just hang around waiting for AAOG.

[ayesha4] 31/1/2018 09:02

Eni have more or less finished with the rig.This is the rig we will use.They cant commit to the rig without the licence.The licence is days away.Just hold tight and add if you can.

[moneytree1] 31/1/2018 08:29

WOT NO UPDATE AS PROMISED?

AIMFRAUD

[pistonbroke1] 29/1/2018 10:47

I kind of think the brown envelope needs to be a bit thicker to get this licence extension through.

[sunnybeachboy] 29/1/2018 09:35

Mm masking buys as sells. Naughty naughty. Buy 10.7p sell 10.55p dogs

[sunnybeachboy] 29/1/2018 01:57

Soco int were granted 25 year licences in November 2017. Check there RNS from 16th November. I reckon Ds and Co are going for 25 year licences. Now that would be punchy.!! Ticker SIA

[sunnybeachboy] 28/1/2018 23:05

Milo who is not following anyone. And has no followers. And doesent reply to you if you reply to him. Has only ever tweeted 7 times and all about aaog. And its a brand new account.

[pinkfoot1] 28/1/2018 18:45

You mean the guy who can’t even spell or write a proper sentence?

[pimp] 28/1/2018 17:58

Is it possible licence extension is not awarded? What happens then? This milolo character on twitter keeps on going on about it.

[money4me] 28/1/2018 17:30

that seemed to be the indication

[neo26] 28/1/2018 15:18

Hopefully some news this coming week.

[pimp] 25/1/2018 03:04

Anglo African Oil & Gas – radical shake up of the board could be the catalyst for big things AAOGby ValueTheMarkets • January 24, 2018Just before Christmas we hosted a written question and answer interview with David Sefton, Executive Chairman of Anglo African Oil & Gas (LSE:AAOG). Feelings have been running high among the Company's shareholders, as Anglo missed a number of key targets last year. However, Sefton gave a series of full and frank answers about what has happened with the company and the decisive action he'd taken to turn its fortunes around. This morning, Anglo gave a surprise update to the market announcing sweeping boardroom changes. Things have just got a lot more interesting here.The headline of today's news was that Anglo has appointed James Berwick as CEO with immediate effect. Berwick is highly regarded in the oil & gas industry, having held senior executive roles at the privately owned Impact Oil & Gas and London-listed Ophir Energy (LSE:OPHR). Feedback we've received from unconnected sources is that this is a heavyweight appointment.When we spoke to Sefton a little earlier today he told us, he "is delighted to have secured James' services and cannot think of anyone better suited to the role. He is well known to SNPC (Société Nationale des Pétroles du Congo) and the ministry and has a track record of successfully developing oil and gas assets in Africa. He is a brilliant addition to the company and we have high hopes the business will thrive under his operational leadership."At some point we will try to catch up with Berwick directly, to learn more about his plans for Anglo, but he was not the only one to join the board today. Anglo has also appointed three new non-executive directors, each of whom looks very impressive based on information available about them. Phil Beck is a petroleum engineer and according to Sefton "fills the technical gap in the company, which we've wanted to fill for some time". Sarah Cope "is a high calibre and experienced investment banker, with a lot of experience in oil & gas". Meanwhile, Nick Butler is "supremely well connected in political circles and is a seasoned veteran at making money in oil and gas companies."It is a little premature to start talking about dream teams, but there is no doubt Anglo's board is significantly stronger today than it was yesterday. This is very good news and the company is still "fully funded in accordance with the license terms" for the forthcoming TLP-103 exploration drill, which investors have been looking forward to for so long.However, before anyone gets too excited it would be worth taking a pause for breath. Whenever a new management team joins a company it is standard practice to frontload any bad news. New directors have the luxury of being able to flush out any lingering issues, while letting former directors take the blame.For Anglo one of the obvious issues concerns is its funding. At the end of last September, the company said it had $4.1million in cash and expected it share of TLP-103 to cost approximately $2million. It's now nearly four months later and despite the cost cutting measures Anglo has put in place a company cannot be run on free air.Another issue for private investors to consider is the rig for TLP-103. On 11 December, Anglo announced that it had "recently inspected its preferred rig for the drilling of TLP-103, which is on operation with a major international oil company in the Congo." The company expected that those drilling operations would complete by the end of January and that drilling of TLP-103 could commence "in Q1 2018".It is early enough in Q1 that Anglo still has time to meet its goal for securing the rig, but there is a sense of skittishness out there in the market. Although sentiment is shaky, Sefton is resolute. He told us "as expected, our preferred rig is nearing the end of its current drill. There was one issue, which might have lost a week or two, but we still expect the rig to be free for us in February. We will know for certain when the current drill is finished. Even if there is an unforeseen problem, we do have two very good 'Plan Bs' in place. Either of these would involve shipping a rig into the country, but this would only take a matter of weeks, not months."In the context of today's board news, the future for Anglo is suddenly looking a lot brighter. The shares are up slightly at 11.5p on the ask, valuing the company at £8million. For those that are new to the stock this could be an enticing level to open a position at. For anyone who already holds, a watching brief might be more appropriate. Whatever the case after a difficult few months there are clear indicators that this company has turned the corner. When the drill finally starts turning at TLP-103, this could trigger a great deal of wider interest from the market. DisclosureThe author of this piece owns shares in the company.