Anglo African Oil & Gas Share Discussion Threads

[honestmarty] 03/5/2018 21:08

So no SNPC funding.

How will that effect the profit sharing with Congo?

Looks like a turnkey opportunity and they have a buyer.

Even announced at 7- 8p I think we will bounce hard.

Add in more positive production news and licence renewal and new highs on the cards.

[tidy 2] 03/5/2018 17:02

Share muppets pump this. Same old.

[bad gateway] 03/5/2018 12:31

SNPC are loaded with debts. 2 billion last I heard so don't expect they can stump up.

[yes yes] 03/5/2018 11:58

and why after all this time have SNPC not stumped up there share of the costs?

[alamaison5] 03/5/2018 11:49

Now that price is at 10p, 6p is a possibility.
How much oil is coming out?
Laughable.

[alamaison5] 03/5/2018 11:48

alamaison5 26 Apr '18 - 12:24 - 2289 of 2305 Edit
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What contingency plans has AAOG put into place for this?

A placing at 10p?




I HAAAAD A DREAM!

[kibes] 03/5/2018 09:11

cashandcard - I completely agree. The only thing to do is sell and then buy back in when they have finished their monster fund raising.

[cashandcard] 03/5/2018 08:41

Dreadful 'frontrunning' RNS to the dilution/funding that is coming. And folks wonder why AIM has a bad name. Don't say anything, get funding sorted and announce when agreed - no understanding of how the markets work. Honestly, I've thought for long now, DS needs to go. Until he does, there will remain a 'stink' around this company. This bit is as interesting as it is alarming:


"Business development

Given the vast network of contacts provided by the new CEO and the new board, the Company has been screening new opportunities and has signed the exclusive right to negotiate to acquire two producing fields in a new jurisdiction. It is now completing the due diligence process on these assets"



If they proceed down this road, that is going to be some mammoth funding needed. Any chance of an RBL for a producer? If not, this is heading lower. It is astonishing they did not do this a year ago, when they had £10mln, and assets were dirt cheap.

Saving grace is Tilapia 103, even with heavy dilution, should it come in as prognosed, will be worth far more to investors than this bombed out price.



Cash

[neo26] 03/5/2018 08:36

Still will be worth a punt once completed

[neo26] 03/5/2018 08:36

They need further 5m, so massive dilution.

[oilandgas1] 03/5/2018 08:31

Definitely misleading investors and the share price drops the day before the news comes out!

[oilandgas1] 03/5/2018 08:31

Sounds like liarliar pants on fire


Mar18: I want to be clear that we are fully funded to drill the new TLP-103 well in accordance with current licence terms, under which 56% of the cost is met by AAOG and 44% by SNPC. Our cash position was GBP5.09m at period end. Our expenditure since IPO reflects the acquisition of the shares in Petro Kouilou SA, the gross cost of the workovers undertaken at TLP-101 and TLP-102, the general and administrative costs and listing costs.

We currently hold in excess of $4.1m (GBP3.25m) cash in hand, which partly reflects the gross acquisition cost of certain long lead items for the drilling of TLP-103, a share of which is recoverable from our partner, SNPC.

[kibes] 03/5/2018 08:30

10p if we are lucky but if they don't get a move on it will more likely be 8p. These people are completely clueless.

[soulsauce] 03/5/2018 08:18

The only way to save face would be to access funding at a premium to the share price Unlikely but not impossible. However the way the share price is falling I would suggest it is pointing to 10p.

[t-trader] 03/5/2018 08:02

Said it time and time again.

This is a muppet company who's only aim is to fleece investors.

[purple11] 03/5/2018 07:56

these ppl have lied and misled investors from day one.

nothing they have said has come good.

THE DIRTY SIDE OF AIM.

thankfully gave up on them a long time ago.gl

[toolsmoker] 03/5/2018 07:39

Agreed do a placing get it over and done with

[sleveen] 03/5/2018 07:38

Rather than announce that financing option are being looked, just do a placing.

I suspect another 20% will sliced off the share price before any funding is announced.

Idiots, have they no idea how AIM works?.

[imjustdandy] 02/5/2018 22:58

Big news coming here

[thesloth2] 30/4/2018 15:58

Update overdue hence the slide.

[money4me] 26/4/2018 15:04

due another update soon

[alamaison5] 26/4/2018 12:24

What contingency plans has AAOG put into place for this?

A placing at 10p?

[euclid5] 24/4/2018 10:36

what's more of a concern is the 44% wi that SNCP may not be able to fund their drill costs. What contingency plans has AAOG put into place for this?

"Going forward, Berwick assured investors that they will not be sold short in any potential future fundraises: ‘As it stands, we are funded for our share of the well and for the work done at the other wells. We will ensure that all shareholders will have the opportunity to participate in anything we do going forward. We are not looking to upset any of our retail shareholders,’ he said.

What’s more, Berwick said the business already has contingency plans in place should there be a shortfall from SNCP in its contribution to TLP-103.

He told us: ‘We have put in place various plans that we can activate when this position becomes clearer. As it stands in the current contract, SNCP is a paying partner of 44pc and we would expect them to pay their share of the well. We have scenarios in place to deal with any potential future changes or issues’


hxxp://www.valuethemarkets.com/index.php/2018/03/29/full-focus-drilling-tlp-103-vtm-talks-exclusively-anglo-africans-new-ceo-james-berwick-aaog/