Anglo African Oil & Gas Share Discussion Threads

[h0me] 19/10/2018 10:14

Is there some news?

[pro_s2009] 19/10/2018 09:37

I would imagine its people buying in now the drill is past the problem zone and getting ready for the first news early November.

As I said I expect around 13p in early November for R1/R2 news.

[griffin81] 19/10/2018 09:12

At this rate the snail will be all over Twitter soon.

[pro_s2009] 19/10/2018 08:46

Off we go.

[pro_s2009] 19/10/2018 08:32

Hopefully we will see over 13p on AAOG by the 1st week of November.

[jonnyfro] 19/10/2018 08:06

Just to add R1/R2 and mengo are appraisal wells with a much higher COS than djeno/Vanji that are wildcat as is MATD

[pro_s2009] 19/10/2018 05:21

Alexios, thanks. The Broker Note link is already in the header along with a link to the May presentation.

[pro_s2009] 19/10/2018 05:20

Ok.

I was just comparing the 480 MMBO 100% net to MATD on their next drill, and AAOG and they have a net 37.52 MMBO on this drill (with a 56% WI).

I hold both, although the weighting is heavily into MATD due to they are funded for 5 drills, with AAOG its just the 1 drill. AAOG has some reserves due to 101/102 in their favour.

[euclid5] 18/10/2018 20:35

Pro, don't forget they have only a 56% wi, so Mengo is 4.1mmbls net to them

[pro_s2009] 18/10/2018 17:55

So total targets are, taking it the 7.9 MMBO is already producing :

8.1 MMBO + 58.4 MMBO + Unknown Vanji which might not be drilled.

So total target is an additional 67 MMBO which is highly significant for AAOG if they strike oil in the 2 target zones.

[cashandcard] 18/10/2018 14:56

Here's a quick overview of the 4 targets;

1) R1/R2: Currently producing small amounts of oil (40bopd?), AAOG engineers expect atleast 120bopd when a downhole pump is installed. 7.9mmbbls of P90 reserves in this interval.

2) Mengo Sands: Tight Oil discovery, 8.1mmbbls Gross Contingent Resource.

3) Djeno Sands: 58.4mmbbls exploration target. This interval could be transformational and company-making if it is present and oil-bearing. Djeno wells a little further offshore flow between 2,500-5,000bopd. This interval is the main exploration attraction of this well.

4) Vanji: Deeper possible exploration target, but a decision on it will depend on outcome of the Djeno target.


Cash

[markter] 18/10/2018 11:44

No hidden agenda,... unlike the management, why can't they come clean on the license ! Why dont you see this as a risk ? this is probably as important if not more important than the results of the 103 !

[honestmarty] 18/10/2018 10:13

Markter.

Sorry but your motives are pretty transparent.

Filtered.

[markter] 18/10/2018 09:19

Delay ? according to James, the License will be "executed", new or renewal (don't know from what I have read - Congo seems tricky) when they restart drilling.

Difficult to believe what they say, highly unreliable. The risk is high, yes the reward is there if they find oil, but if the SPNC decide not to give the license the is the end of the game !
I will buy back when the license is there. Even if this will mean less reward,... but I cannot ignore the risk.
The management does not have a clean bill... pretty bad history,... that is not reassuring,...

[honestmarty] 18/10/2018 00:12

It isn't a renewal, it will be a new license.

The delay is typical ( look at SAVP), expect final sign off soon along with new assets.

Exciting times

[aaog oilman] 17/10/2018 19:02

Hi Guys just joined today....Been doing some research and wondered if there is any reasoned explanation as to why the company is currently drilling at risk without the licence having being renewed in the first instance?

[pro_s2009] 17/10/2018 15:50

Update maybe Monday 5th November on the R1/R2 ?

[cashandcard] 17/10/2018 12:53

09/10/18

"The Company expects the Well to intersect its first reservoir target, R1/R2, in approximately 25 days"


Patience folks, all in good time - early November we should be down to that zone.


Cash

[magicmayhem] 17/10/2018 12:49

Do we have a date when they should hit R1/R2