Anglo African Oil & Gas Share Discussion Threads

[honestmarty] 03/12/2018 08:09

Fairly predictable drop.

Traders hoping to buy back if the offer falls.

I hope they get their nuts roasted.

[honestmarty] 02/12/2018 16:35

Mischief makers abroad on the other site.

Pretending there is an imminent placing.

If it dips, I'm having a few more.

[red rook] 01/12/2018 21:05

Oil - happy - if the flow rate is commercial!

[bobby1904] 01/12/2018 15:28

Correct! Well worth pointing that out as lots of very inexperienced naive retail punters in this stock who don't understand. Also worth looking at copy of email on Twitter from Dave Sefton reiterating this exact point. Due to 14day notice period and Christmas period coming soon they've decided to get the authority in place ahead of time in case needed. So for the uneducated this is NOT a 5p placing!!! IMO they will wait for some positive news on drill/oil & then seek to raise at a much higher price where investors can come up with cash based on some confidence....

[john henry] 01/12/2018 09:59

apfindly, one minor problem if the company fail to find Oil then the share price will likely crash below 5p hence they wont be able to raise.

They would then need authority to reduce the nominal value of the shares from 5p to probably 1p

[apfindley] 01/12/2018 09:20

My take is, they were naive to the dirty games of parasite funders before taking the cln, and have since realised what we already knew. Hence the security of possible alternative funding. So the authority to increase issued capital, should cover any outcome of the drilling. The timing is good, its obvious we have enough funds for immediate needs, and by the time we need more, the drillbit will hopefully have hit oil, and the shareprice will be sufficiently higher so we'll be happy to raise in that scenario. If the drilling is a failure, then they will still have a funding option in place, as with the increase share issue, they will have capacity to allot. But the date is advantageous to us, as by the time the general meeting occurs, the drillbit will already have news for us.

[pinkfoot2] 30/11/2018 19:29

The £221k will be costs associated with raising £5m.Its all about the strike price which is all about the oil strike!

[croxonopolis] 30/11/2018 18:23

Seems to me they have confidence of what's coming.

I have respect for them this week sticking it up Sandebel. Rarely will you see that on aim. They didn't fxk around doing it either.

[shujja1] 30/11/2018 17:48

But it's only a authoritative decision next week we hit oil this will all change

[honestmarty] 30/11/2018 17:31

Yes John Henry, and buries the Sandhu death spiral (not!) Finance.

[john henry] 30/11/2018 17:28

Its just an Authority to issue,

They cant issue below 5p even if they chose to.

[honestmarty] 30/11/2018 17:24

5p nominal price of shares

This is NOT a 5p placing price.

Lest anyone is confused.

[moneylender] 30/11/2018 16:41

Anglo African Oil & Gas plc, an independent oil and gas developer, has today sent to shareholders a notice (the "Notice") of General Meeting (the "GM") of the Company.

As announced on 29 November 2018, the Company does not intend to draw down further on the £5 million Convertible Loan Note Financing Facility which it entered into with Sandabel Capital L.P on 23 October 2018. Accordingly, the Company is considering the financing options available to it. One such option is to issue new ordinary shares of 5p each in the capital of the Company ("Ordinary Shares") or options convertible into such Ordinary Shares.

The Company is therefore seeking a general authority to allow the directors to allot equity or other securities for cash up to an aggregate nominal amount of £5,221,000 without first offering them to existing shareholders. This authority is intended to provide the directors the flexibility to raise further capital in the most expedient manner possible, should the need or opportunity arise.

There is no certainty that the directors will use this authority and there is no intention currently to do so. Moreover, there is no certainty that any eventual financing of the Company will involve the issuance of equity at all.

If granted, the authority will last for only six months from the date of the General Meeting, The Company will provide further updates in due course.

The directors consider that the resolutions set out in the Notice are in the best interests of the Company and its shareholders as a whole. The directors who hold shares will be voting in favour of all of the resolutions, and unanimously recommend that you do so as well.

The GM will be held at the offices of finnCap at 60 New Broad Street, London EC2M 1JJ on 17 December 2018 at 11 a.m.

[apfindley] 30/11/2018 16:23

Buying increasing now and some decent trades going through.Good news on its way.

[honestmarty] 30/11/2018 10:34

7.6p are buys

MM slime balls.

[honestmarty] 30/11/2018 10:12

m4m

Lucky then that we have 2 targets with 90% and 60% COS.

[money4me] 30/11/2018 10:07

when it drops so far it is a long way back up. only the blackgold can save this

[honestmarty] 30/11/2018 10:07

LH

I'm looking at SAVP again.

[lithological heterogeneities] 30/11/2018 10:00

along with SAVP which,thankfully,i got out of :0(

[honestmarty] 30/11/2018 09:18

I'm happy to admit I am very nervous here.

This share had been a great learning experience.

[babbler] 30/11/2018 09:11

Not nervous at all. Lol was just saying how ridiculous the drop was. And was right

[honestmarty] 30/11/2018 08:40

Babbler

I suggest a strong drink to calm your nerves.

[babbler] 30/11/2018 08:20

And back down. Ridiculous. Next week is key.

[honestmarty] 29/11/2018 20:29

Delighted to see the share price starting to rise before the spike on the 2 oil finds.

What we really need from Fat Boy is a release of the hinted at engineering report on development of the R1/R2 sands when he announces the strike.

And again, when we hit Mengo, he needs to release the field development plan.

Just 1000 BOPD and we are very profitable.


Remember we get 100% of the profit until 44% of the development costs are recouped.

40p will easily be reached if he provides this information.


That's before Djeno.

He could have a placing at this point to fund 104, and announce the Vanji plan for 104.

That's how I would do it.