Anglo African Oil & Gas Share Discussion Threads

[bad gateway] 22/5/2018 15:44

"A circular to Shareholders in respect of the Placing (the "Circular") is expected to be posted later today giving notice of the General Meeting to be held on 4 June 2018 at 11.00 a.m. at the offices of finnCap Ltd. A copy of the Circular will be available on the Company's website at www.aaog.co"

Has anyone found this circular on their website or found another way for nominee accts to vote?

I.G. apparently need a proxy form copied, signed and sent to them 7 clear days before the vote on the 4th June for them to act as proxy so theres quite a tight window for nominee acct holders to have their say.
Would imagine the vote would be illegitimate if no ones given the opportunity to vote?

[aladin1033] 22/5/2018 11:50

Guys what do you think the MC could be if we hit say 600 bopd on mengo but before djeno test results are out? Any guesses?

[euclid5] 21/5/2018 19:08

different ball game then if they strike oil & find the circa 56mmbls x 56% wi - 28mmbls net to them - will re rate definitely...nice problem

[aladin1033] 21/5/2018 16:15

I see so what sorr of MC do you think it could. Reach on 5000 bopd? Surely over 100m

[euclid5] 21/5/2018 15:51

Because that is the CPR technical report based on the geological factors - doesn't mean AAOG will find commercial oil, because other parts of that section further up have done, so please don't ever lose sight of this.

However, it has a good risk / reward to it

[aladin1033] 21/5/2018 15:10

Thanks everyone so if the majority of wells in the djendo sands have produced why is the chance of success on djeno jusr 25%

[euclid5] 21/5/2018 14:57

Thanks for the post BadG - here is the link to that also

[bad gateway] 21/5/2018 14:47

Don't have a duster to report but soco have been drilling the Djeno.
This from Nov 2014 RNS, will look for more..

SOCO announces that SOCO EPC, operator of the Marine XI Block offshore the Republic of Congo (Brazzaville), has successfully completed testing the exploration well Lidongo X Marine 101 ST1 well ("LXM-101"). The well significantly exceeded pre-test expectations, reaching a post stimulation frac peak rate of 5,174 barrels of oil per day ("BOPD") and 3.65 million standard cubic feet of gas per day ("MMSCFD").



As previously announced, the LXM-101 well, located 23 kilometres northwest of Pointe Noire in a water depth of approximately 45 metres, was drilled to a total depth of 2,665 metres. The well encountered oil in a clastics sequence in the Djeno sand formation with drilling shows and early log interpretation indicating approximately a 50 metre gross interval.



The test, over a perforated 20 metre section, produced at a stable average flow rate of 4,800 BOPD and 3.5 MMSCFD on a 56/64" fixed choke with a flowing wellhead pressure of 778 psi following the successful execution of the stimulation frac. The oil quality was 32 degrees API.

[euclid5] 21/5/2018 14:42

from pg 16

The prospect based on the 2D seismic is thought to be a four-way dip closed
structural trap. The first Djeno discoveries made in the 1970s were gas and
condensate fields. However, more recent drilling and production success has
shown the presence of oil rims, as has been found at multiple wells in the Nene
and Litchendjili field areas adjacent to the Tilapia licence.

The CPR predicts that the Djeno sands in the Tilapia structure will be gas-bearing
with an oil rim. The majority of wells drilled near the licence have yielded wet gas
with a producible oil rim, as evidenced in the Nene-Lidongo trend. The key
difficulty with an oil rim development is management of production from the gas
cap, which will be difficult to do even with horizontal wells.

[euclid5] 21/5/2018 14:40

AAOG plans to drill an appraisal well on the Mengo discovery in order to clarify
the geology, prove up the resource base and confirm production potential. The
CPR assigns a 60% chance of commercial development associated with these
operations

[aladin1033] 21/5/2018 14:39

Djeno sands cos is 25% is that 25% to hit 10000 or is the cos higher to on a 5000 bopd im confused

[aladin1033] 21/5/2018 14:34

Thanks eu but this is related to aaog im looking for other companies who have drilled in djeno sands and hit a duster

[euclid5] 21/5/2018 14:21

Here is the link to the Finncap BN 30 Jan 2017

[aladin1033] 21/5/2018 12:48

So do you think the cos on djeno is higher than. 25% do you know if there have been any dusters in djeno with other companies i have looked online cant find anything

[honestmarty] 21/5/2018 12:46

I am staying put. Will we see 5k bopd, who knows, but I am positive we will achieve over 1000 to trigger dividends.

[aladin1033] 21/5/2018 12:39

Anyone here going to wait for djeno results before selling any shares? Who's going to risk it here?

[honestmarty] 21/5/2018 11:42

I realise with an average of 10p my perspective is very different.

But assuming we get the placing away, start drilling and get the licence, if I were you I would just sit tight.

It will easily hit mid teens. At this stage downside is very limited.

[aladin1033] 21/5/2018 11:39

Well i might just risk it and wait for djenjo a 1000% would mean 80p a 120m mc but its not straightforward there will be issues with stimulation etc as with 101 102 over a year of stimulating the wells

[aladin1033] 21/5/2018 11:36

Game over for me as i put alot of money i have averaged down with very limited cash and my average is 23p so yes it is game over for me anyway. I would have thought with mengo drill results 65m MC 40p but i doubt it

[bad gateway] 21/5/2018 11:27

So its 20p mid drill from the mad stork? No idea who that is but 100%+ gains from here sounds good.
Think myself that if 101 returns to the 80-90 BPD its recently tested at through the annulus and 102 comes good then they won't be too far out on their 250BPD figure and the market will start to factor in more chance of success at 103 and 104.
Don't believe that a £34m marketcap will look dear then not with present oil environment so unsure this 20p will be resistance.

[honestmarty] 21/5/2018 11:26

aladin

"the proven horizon of the Mengo, which contains an 8.1m barrel gross contingent resource discovery;"

and reported comments from Directors

But as I said, IMO


LOL alan, "game over", ONLY 20p mid drill, so ONLY 120% rise by end of July?

And possibly a 1000% rise by end of August?

and you say Game Over? PMSL

you missed the placing, just stump up the cash now, and relax

[aladin1033] 21/5/2018 11:09

This is only good for new investors even the mad stork on twitter reckons it will only hit 20p mid drill so for people who are looking for 40p etc and have a higher average its game over

[honestmarty] 21/5/2018 10:43

Allotment

As you advised in February, given that they raised at a 60% premium to your prediction and that a significant number of the original institutions have also re-invested, you must be even more sold on the new investment case?