Anglo African Oil & Gas Share Discussion Threads

[thesloth2] 18/5/2018 08:11

Await news of Ebola in Wardour Street.

[soulsauce] 18/5/2018 08:01

Adjacent though isn't it? How many countries did it hit last time.

[toolsmoker] 18/5/2018 07:59

Wrong congo though isn't it

[soulsauce] 18/5/2018 07:48

I know someone said watch someone mention ebola. Joking apart it is something to keep an eye on.

[sunnybeachboy] 18/5/2018 07:46

It says drill 60 - 70 days.

[toolsmoker] 18/5/2018 07:35

Drill beginning of July for 60 days

[honestmarty] 17/5/2018 23:05

thanks WR63

so drill in June then?

[sunnybeachboy] 17/5/2018 22:46

I would think the share price should be at least 15p within 1 month
Im currently a non holder.

[wr63] 17/5/2018 22:42

Read the details in the RNS, there is an update on the work over for both wells. Much more info needed but progress is being made.

[honestmarty] 17/5/2018 22:38

So open down about 15%.

Great!


Sefton better pull a rabbit out of the hat with licence and workover updates

[sunnybeachboy] 17/5/2018 22:34

Admission 92 million shares should hit the mkt not later than 8am on 5th june

[sunnybeachboy] 17/5/2018 22:20

When matd raised 16m$ in a placing in January it took about 3 weeks to churn 59.2m shares that was priced at 6.5p. We have 92m shares at 8p so could it take 2 - 3 weeks to churn ?

[honestmarty] 17/5/2018 22:16

Any predictions on opening price?

Will we drift down to 8p?

[bad gateway] 17/5/2018 21:41

Thanks bobby, happy to stand corrected.
One good thing noticed that SNPC's interest in the field has come down to 19% in the new licence..

The formal terms of the production-sharing agreement and joint operating agreement which relate to the New Licence are in the process of being finalised, but it is proposed that the revenue generated in relation to the New Licence shall be shared as follows:

· PK shall retain its role as operator and will retain its 56 per cent. share of the net revenues generated pursuant to the New Licence.

· A Congolese private company, AOGC, shall be entitled to a 25 per cent. share of the net revenues generated pursuant to the New Licence. AOGC is a large private group in the Republic of the Congo and is partnered with Total and ENI on their new fields in the Republic of the Congo. The AOGC group has interests in all aspect of the energy industry and owns the AFric petrol station chain. The Company believes that AOGC is financially capable of meeting its share of future development costs.

· SNPC shall be entitled to a 19 per cent. share of the revenues generated pursuant to the New Licence.

The New Licence includes a commitment to drill a new well, the TLP-103 well, but is on the same financial terms with the same profit sharing arrangements as the Tilapia Licence and incurs no signing bonus.

It is anticipated that the TLP-103 well will be drilled under the terms of the existing Tilapia Licence, but it should be noted that both the Tilapia licence and the New Licence allow for the Company to recoup any capital expenditure in excess of the Company's pro-rata share from future oil revenues.

In short, given the progress detailed above and with an oil price in excess of US$70/bopd, the Board believes that the Company represents an even more compelling investment opportunity than at IPO.

[bobby1904] 17/5/2018 21:30

My brokers were involved in the fund raise...

[honestmarty] 17/5/2018 21:27

bobby1904

How are you getting the opportunity to invest?

[bobby1904] 17/5/2018 21:24

I'm partaking in the placing. My first investment in the company in fact. I'm not interested in a 10% profit or anything close to that. I'm in it for a much bigger return (as is requisite for these sort of high stakes investments) & everyone else I know participating is too. It is not correct to characterise the participants as looking for "10% churn". Talking with first hand experience, that just doesn't happen with the majority of buyers in these sorts of placings - it's just a myth to say otherwise. Good luck everyone & fingers crossed we see some cracking results from 103 this summer!!!

[honestmarty] 17/5/2018 20:21

Lowball?

I guess it depends what price you bought in at?

Why do you think they raised so much? over twice what they needed for 103?

Any thoughts on how the market will react?

[bad gateway] 17/5/2018 20:15

Agree its good the project can go ahead now without relying on SNPC to fund it but may well vote with Sister anyway if given the chance just to give Sefton grief for the lowball placing.
Wonder mind if the reason they didn't have a placing at higher levels was Sister saying no?

[novicetrade68] 17/5/2018 18:22

8p, good thing that's sorted now.