Anglo African Oil & Gas Share Discussion Threads

[honestmarty] 10/9/2018 12:09

Looking good ladies

[honestmarty] 10/9/2018 12:05

Bit of a tug of love going on at the moment.
But sellers have limited fire power.

Going up soon

[honestmarty] 10/9/2018 09:47

12p is a tad optimistic.
10p

[apfindley] 10/9/2018 09:46

Looks like decent buying volume today. Market realising that a potential $1m max overrun, which was already covered by a contingency in the original $7m well budget, does not warrant a 35% fall in share price. Hmm looks like investors smell a 50% profit to climb back to 12p+

[sleveen] 10/9/2018 09:07

"The company also has offers of debt finance to meet the cost overruns if necessary."

Noted.

[ohisay] 10/9/2018 04:24

Finncap comment..

At this stage the extent of any cost overrun remains unclear. However, the original $7m drilling budget included a contingency of $1m. In addition, there are potential offsets and claims arising from insurance. The company also has offers of debt finance to meet the cost overruns if necessary.
Whilst frustrating that this well has been delayed and will incur cost overruns, it is a relief that the rig has not incurred damage and AAOG can still fully fund the well. As a result, we are reinstating our risked NAV-based price target. We have trimmed this from 41p to 40p, to factor in a likely cost overrun on the well.

[cashandcard] 09/9/2018 16:58

I would suggest what Malcy meant was after everything is factored in with regard to the delay, they will be running on fumes. What he fails to mention is where they address the impact of this, on their finances, in the RNS stating the offers of debt/loan finance. Had it not been for this part of this, I would say they are running it very tight. As with all bloggers, journo's, they can (unfortunately) be sloppy with their coverage. So always good to take with a pinch of salt and check, double check. The story here is far from over.Cash

[dandadandan] 09/9/2018 11:49

Just take a leaf out of UOGs book.
They are small Mcap O & G clever money users, just like others on AIM.
Providing funding is what AIM is all about.
Remember this is a newly formed BoD team and their big financial rewards are waiting for the oil find. They have a great vested interest in success. The CEO is also not a 'slipshod chancer'....

Even if the insurance money was slow in being provided,( which you do not know), they have the money available for the drill.
It is called contingency planning and sometimes includes an accountants 'rainy day funds'.

I bet that their are many Investors out there now at work, double checking those past AAOG figures, that were previously issued.


Is it time for a VOX/Proactive CEO telephone interview call, on site in the Congo?

GLA.

[sleveen] 09/9/2018 10:36

VOG still waiting for their insurance claim after 18 months.

Insurance companies are well known for their willingness part with cash and not dispute any claim.

[john henry] 09/9/2018 09:33

Sleveen what evidence do you have that the Insurance payout will take 12 months ?????

[sleveen] 08/9/2018 13:43

Assuming the delay can be claimed on the insurance, the payout most probably take 12 months to sort out.

During that time funding will be needed.

[dandadandan] 08/9/2018 13:05

What this now needs is a brief CEO interview, to calm the doubters and knockers.

Even Malcy is saying that the Company is running on fumes, but a £1m contingency is not to be overlooked. How does he get to make that assumption?

Problems happen and get resolved, all of the time in this industry.

All companies on AIM are here because they need to raise cash. Nothing is stopping another raising once a little success news starts to flow. Even Sp linked Contract Loan Notes can be used to bring in a little extra finance and can be parked in the accounts until riches follow that rising share price

GLA.

[ih_616644] 07/9/2018 23:42

Anyone with even a cursory knowledge of oil exploration should know these problems are usually quite easily resolved; indeed, it would be prudent to buy the blood with this sort of scenario. If the CEO is earnestly involved then there's a good chance that we'll be seeing profits sooner rather than later. Having said that, one must remember that patience pays with these sorts of investments

[gozo] 07/9/2018 22:00

Ha ha Marty that's the funniest post I've read during this whole debacle....still laughing now!

[honestmarty] 07/9/2018 21:39

A big rock?

[honestmarty] 07/9/2018 20:06

More importantly

What were the drilling challenges?

[sleveen] 07/9/2018 17:49

"Whilst drilling through the shallow section a number of drilling challenges were encountered, caused by localised geological conditions, which resulted in ground movement"

Drilling caused the ground movement secondary to the soft ground(ie the local geological conditions)...is my interpretation

Why site a rig on soft ground?

[pro_s2009] 07/9/2018 17:39

JH, not heard or seen what Malcy said.

[john henry] 07/9/2018 16:49

Pro can you make head or tail of what Malcy was implying regarding Earthquake