Anglo African Oil & Gas Share Discussion Threads

[isa2020] 24/10/2018 08:35

Won't need it - also shareholders can vote it down at GM

[isa2020] 24/10/2018 08:32

conversion notice will be the lesser of (i) 125 per cent of the Initial Spot Price ("ISP") or (ii) the Market Share Price ("MSP") and the principal amount of the facility remaining undrawn shall be increased by the pre-conversion value of the loan notes that have been converted

[t-trader] 24/10/2018 08:27

This company couldn't get water out of a tap.....so what chance they got of getting oil out the ground hahaha

Total muppet company since day one and Sefton.....well, should never have given up his clown job at the local circus!

[letmepass] 24/10/2018 08:24

Question is are they selling g already.. Market is so corrupt nowadays

[crooky1967] 24/10/2018 08:19

I would imagine the drillers wanted some sort of guarantee in place in order to stick around for the next drill. Nothing has changed for me and the loan facility may never be required. I feel a slight over reaction with the share price drop.

[letmepass] 24/10/2018 08:19

Maybe they did this to let others in.. Haha

[letmepass] 24/10/2018 08:18

So they aren't sure about the oil. Understandable. Death spiral.

[talkman2] 24/10/2018 08:16

Can you read JH ? They haven’t taken this , it’s just an option if they need to use it . It seems the market can’t read either . Ridiculous share price response.

[john henry] 24/10/2018 08:10

However you dress it up this is financing of a worst possible kind.

Death Spiral Financing, Markets, investors loath it.

Last resort financing, The share price will be destroyed.

[bobby1904] 24/10/2018 07:54

Not supposed to have hit oil yet you idiot! You are just trying to deramp or alternatively are so too stupid to understand the detail...

[apfindley] 24/10/2018 07:52

"This well did not encounter any of the shallow unconsolidated formations intersected in the TLP-103 well." This is regarding the problem zone on the other well, nothing to do with the r1/r2. They haven't reached that yet.

[apfindley] 24/10/2018 07:49

What you on about. Theyve not even hit the first oil zone READ THE RNS AGAIN. They have not encountered the troublesome zones they met in the other well... Back to school for you to learn English.

[letmepass] 24/10/2018 07:38

No oil first zone so suggests under pressure to secure any form of financing. Gone for convertible notes which kills off share prices. GLA'I think you are miss reading RNS. Says they have not encountered any ground movement problems like first spud, but are keeping measures in place just in case. Not have 'not encountered any oil'!

[bobby1904] 24/10/2018 07:32

Loan only there as back up. Conditional on Shareholder approval on 13th Nov. Not been used yet!

[pro_s2009] 24/10/2018 07:29

Exactly Talkman.

Its the back up option put in place now, in case of no oil. They will not draw on it.

Find good oil in the Djeno and Mengo then its a 20p+ share price placing going to happen and the Loan facility will never be used.

[talkman2] 24/10/2018 07:26

They only have the option of the CL if they need it . If they strike they won’t use it .

[pro_s2009] 24/10/2018 07:23

All depends.

This will only matter if they don't strike oil.

If they have good oil strikes in the Djeno and Mengo then they can raise money by a placing.

The plan imo always was to get good oil discoveries in the Djeno and Mengo, get the share price up to about 20p+ levels and then do a big fund raising.

This loan facility will just cover their bottoms in case they do not get good oil discoveries in the lower targets.

[john henry] 24/10/2018 07:20

Yep ditto, stock will be shorted and forward sold to gain maximum shares.

Happens all the time. Death Spiral financing.

[cashandcard] 24/10/2018 07:14

Going to close out later.Cash

[letmepass] 24/10/2018 07:09

Death spiral funding. Hopefully not needed

[john henry] 24/10/2018 07:09

Why O why anything but a convertible loan note :-((((((

[lithological heterogeneities] 23/10/2018 18:20

Belcourtoi just posted his amended AAOG drilling schedule:

[alexios1201] 22/10/2018 14:02

https://twitter.com/Alexios1201/status/1054356281291669504?s=19

[alexios1201] 22/10/2018 14:02

https://twitter.com/Alexios1201/status/1054356281291669504?s=19