Anglo African Oil & Gas Share Discussion Threads

[honestmarty] 29/10/2018 11:08

CronoP,

Decent RNS on Mengo, and 10p will be passed in the blink of an eye.

[croxonopolis] 29/10/2018 10:54

Well that put the fire out

We've gone from "won't need to draw down unless needed" to " we will draw down half and then do a placing when there are oil shows"

I bought in at 10p. I'll be lucky to get my money back on R1/2.

Such is aim. No way this will rise well with anticipation now

[pistonbroke1] 29/10/2018 10:23

Didn't need to publish that, buys now dried up and sells appearing.

[honestmarty] 29/10/2018 10:18

I think it is called being open and honest.

[moneylender] 29/10/2018 10:05

"While we are going to draw down several tranches over the coming two months, we will keep the capital required to a minimum. A likely outcome is that approximately half of the facility will be converted and half will be repaid as debt."

Market wont like that bit, why do CEO's shoot themselves in the foot?

[alexios1201] 29/10/2018 10:00

Key points on debt facility29 October 2018As announced in earlier regulatory releases and discussed in interviews, having a debt facility was always part of AAOG's contingency arrangement. Following the need to re-spud and the consequent enhanced engineering upgrades to well TLP-103C, AAOG needs to access some of that contingency to ensure the well is drilled to our specifications.We have not rushed this but, in discussions and advice from our nomad and a financial adviser, we have put in place a facility which meets AAOG's needs while minimising any cost or effect to shareholders:We have not taken a large tranche of capital in one lump where we might not need all of it;We have avoided warrants, which would take away much upside from shareholders;We have minimised conversion rights, such that at least some of the debt will be repaid as conventional debt with no conversion;We have agreed conversion rights and subsequent trading of shares that avoids the risk of a 'toxic debt spiral'; andWe have minimised the cost of capital.While we are going to draw down several tranches over the coming two months, we will keep the capital required to a minimum. A likely outcome is that approximately half of the facility will be converted and half will be repaid as debt.We are now within a month or so of knowing exactly where we are on TLP-103C, at which point, if there is an oil show, AAOG should be able to price and raise sufficient equity for the field-development plan, which means that the debt facility would be taken out.What will not happen is that this debt facility remains in place over the long term as a convertible drag on the share price.Although the lending vehicle is Sandabel Capital LP, the underlying lender controls the debt facility, any conversion and all trading relating to any shares converted from the loan. The loan is not assignable. The underlying lender has always been a subscriber on placings and is very supportive of AAOG. This is the first loan that the lender has flowed through Sandabel. The lender has committed to AAOG that it will not act in any way that could cause undue adverse movement in the share price.

[alexios1201] 29/10/2018 09:59

Key points on debt facility29 October 2018As announced in earlier regulatory releases and discussed in interviews, having a debt facility was always part of AAOG's contingency arrangement. Following the need to re-spud and the consequent enhanced engineering upgrades to well TLP-103C, AAOG needs to access some of that contingency to ensure the well is drilled to our specifications.We have not rushed this but, in discussions and advice from our nomad and a financial adviser, we have put in place a facility which meets AAOG's needs while minimising any cost or effect to shareholders:We have not taken a large tranche of capital in one lump where we might not need all of it;We have avoided warrants, which would take away much upside from shareholders;We have minimised conversion rights, such that at least some of the debt will be repaid as conventional debt with no conversion;We have agreed conversion rights and subsequent trading of shares that avoids the risk of a 'toxic debt spiral'; andWe have minimised the cost of capital.While we are going to draw down several tranches over the coming two months, we will keep the capital required to a minimum. A likely outcome is that approximately half of the facility will be converted and half will be repaid as debt.We are now within a month or so of knowing exactly where we are on TLP-103C, at which point, if there is an oil show, AAOG should be able to price and raise sufficient equity for the field-development plan, which means that the debt facility would be taken out.What will not happen is that this debt facility remains in place over the long term as a convertible drag on the share price.Although the lending vehicle is Sandabel Capital LP, the underlying lender controls the debt facility, any conversion and all trading relating to any shares converted from the loan. The loan is not assignable. The underlying lender has always been a subscriber on placings and is very supportive of AAOG. This is the first loan that the lender has flowed through Sandabel. The lender has committed to AAOG that it will not act in any way that could cause undue adverse movement in the share price.

[ambrose65] 29/10/2018 08:46

> markter. Of course we don’t trust the fat muppet. Just look at him or even better, listen to him ! He doesn’t have a clue.
This being said, if the R1R2 come as a gusher, forgive his sins !!! Ah ah ah !

And if it doesn’t, he should be sacked and sent back to an obscure law firm filing accidents and divorces !!!

Moment of truth ! 100bopd in R1 and he’s the best guy in town !

[money4me] 27/10/2018 12:07

all seems good. gusher

[gozo] 27/10/2018 09:37

Thanks pro.

[lithological heterogeneities] 27/10/2018 06:50

Excellent. Thanks pro.

[pro_s2009] 27/10/2018 01:15

From Twitter:

[pro_s2009] 26/10/2018 11:38

lithological heterogeneities, nature of the market now.....everybody hates risk. They all want to buy after the news, not before.

[pro_s2009] 26/10/2018 10:44

The best thing at this stage is just to let the drill bit do the talking..... there is no real need for any comments, success will happen or not. November will be full of news.

Like MATD, nobody is posting on the thread, but they are drilling the biggest ever drill for an AIM stock (480 MMBO of oil 100% owned).

No point in arguments now, the drill bit is turning and soon AAOG will announce news, and then again some days later,more news, and then again some days later, more news, and then more news.............all that matters now is the news content. That will move the share price up, or down.

[honestmarty] 26/10/2018 10:38

Marketer.
I find your arguments poisoned with bias and very unbalanced.
This renders them deeply flawed.

The drill was fully funded until it became apparent that the partner was unwilling or unable to fulfil their side of the agreement.

I don't know when this reality became apparent, nor do you, to accuse a man of lying is grossly unfair.

Equally excessive are your comments about the drilling issue, was the problem, the thief zone, drill torque, an inadeequate pad, insufficient casing?

The fact I can list these issues demonstrate just how transparent the company has been. Your comments on this matter are nonsense.

[crooky1967] 26/10/2018 09:51

I think the raise was due to the partner that owns 44% of the licence could not or would not put up their share of cost of the well. This is going to be recouped from oil sales in the future.

I have no reason to believe that they have not overcome the problems that they encountered on the first drill. If this one comes in then happy days but if not then we will see what happens. I am happy to take the risk and it is certainly up to each individual to decide to do so or not.

[honestmarty] 25/10/2018 15:58

Surge in derampers past 2 days.

Must be a good sign for anyone holding as the most likely explanation

Is an organised attack to drive down the price and improve an entry position.

Feeling very relaxed.

[money4me] 25/10/2018 15:50

yes. dont want to be at the whim of some 3rd party playing the company for their own financial benefits

[john henry] 25/10/2018 13:40

Thanks Jim, a reassuring tweet from DS.

[lithological heterogeneities] 25/10/2018 13:23

Excellent Jim .Thanks for posting Dave Seftons email reply about the convertible loan. Extremely reassuring and very happy with it now we know it's NOT a "death spiral" convertable loan.Great Comms from the management of this company. It is a breath of fresh compared to the vast majority of others who have appalling investor Comms. Terrific.

[jim899manutd] 25/10/2018 12:31

https://twitter.com/sunny_j14/status/1055374812787417088?s=21