Anglo African Oil & Gas Share Discussion Threads

[phoebusav] 20/9/2017 09:09

So would I.

[cashandcard] 20/9/2017 09:09

From 6th June results;

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Future development of the Group

Admission to AIM and acquisition of Petro Kouilou SA

The directors believe that the fundraising and admission of the ordinary shares to trading on AIM that completed on 6 March 2017 are in the best interests of the Company. The funds raised enable the Company to acquire PK, which provides an exciting opportunity for shareholders through the development programme set out below.

Enhancing production from the Tilapia field

The Company's planned production development programme is as follows:

Stage One - The Company intends to increase production through two workovers.

Stage Two - The more significant potential increase in the value of the Tilapia field is expected to be achieved by a new drilling programme into deeper geological structures, the Mengo and Djeno sands, which Tilapia shares with surrounding fields. The first of these new wells, TLP-103, will be drilled during 2017.

Stage Three - If the drilling of TLP-103 is successful, a second well, TLP-104, will be drilled.

The directors believe this development programme is commercially attractive because:

1. Low cost - the Company's budgeted break-even cost of production at 5,300 bopd is less than US$5 per barrel and, at an oil price of US$35 per barrel, it can be profitable at approximately 500 barrels of oil per day ("bopd"). The business and working capital models produced by the directors, and in particular the low and flexible cost base that allows the Company to be break even at production levels lower than 500 bopd, provide evidence that the Company can withstand low oil prices even at modest rates of production.

2. Upside - The drilling programme into the Mengo sands and the Djeno sands provides qualified potential upside to the existing production.

3. Existing production and storage facilities in place - there are in place existing facilities that have been constructed to international standards, have been regularly maintained and are fully amortised. PK's facilities currently have the capacity to achieve production of up to 4,000 bopd, with scope for expansion.

4. Already in production - the workovers and drilling programme, well design and authorisation for expenditure have been agreed with SNPC.

5. Ability to drill from on-shore - Tilapia is near offshore, being only 1.8 kilometres from the coastline. This gives the considerable advantage of being able to drill from onshore using deviated wells, at a considerably reduced cost compared to offshore drilling.

6. Light oil - The oil currently produced from Tilapia is high quality, light, sweet crude (39 - 41 API) with a market value that currently tracks Brent crude oil.

7. Availability of equipment - Drilling equipment and ancillary services to carry out the development programme are readily available due to recent oil price instability. If drilling into the Djeno sands proves unsuccessful, the Company nevertheless intends to perforate the well at the Mengo sands and/or Pointe Indienne R1/R2 reservoir and thereby increase daily production, with a positive effect on cash flows and asset value.

Significant events after the balance sheet date

On 6 March 2017, the Company's shares were admitted to trading on AIM. On admission, the Group issued 51,410,578 ordinary shares at 10p, including 50 million shares issued pursuant to a fundraising, generating gross cash proceeds of £10 million.

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They will still have the bulk of that £10mln.


Cash

[loveandmoney1] 20/9/2017 09:05

id buy @8.6m cap though....as would others im sure incl Trump.

a lot of talk of 12p.

im not confident itll be seen but certainly could be. id take some if it did.

[loveandmoney1] 20/9/2017 09:05

I don't..but they do...as proven 3 times over now on this stock.

edited,thanks

[phoebusav] 20/9/2017 09:03

Well you clearly know it all. Market cap is £10.95M not £8.6M.

[loveandmoney1] 20/9/2017 08:58

naturally both were ridiculed by the know it alls!

[loveandmoney1] 20/9/2017 08:57

theres 15.5 on the bid that runwaypaul and purple were on about for their entries...

@10.95m cap now.

[phoebusav] 20/9/2017 08:57

Run out of cash? Nonsense. You need to go and check the strong net current assets position and minimal cash burn like the rest of us have. Current EV is only £5M or 13.8p/BOE for TLP-103 plus a little production. Plenty of oilers on much higher market caps have less cash many with no production or drills lined up. All that's happening here is market is pushing the price around on low volume. It has nothing to do with fundamentals.

[donald tramp] 20/9/2017 08:28

There's no rush to buy here, just sit on the sidelines and wait. I said the drill wasn't going to happen on time but very few listened.

Could be a placing if the cash runs out over the next few months after the work over has all gone wrong, and the drill bit is not coming this way till Feb at the very earliest.

These two fat cats do not give a toss about PI's and don't forget that.

[the house of brexit] 19/9/2017 08:43

We have ignition.

[the brex pistols] 19/9/2017 08:40

Everyone in position?

[purple11] 18/9/2017 12:52

Always on the MoneY

xXTiPSXHEETSXx

[loveandmoney1] 18/9/2017 11:36

BUY BUY BUY

[purple11] 18/9/2017 11:26

AAOG WATCHLIST ADD

[purple11] 18/9/2017 11:25

maybe will be able to sell em to the mafia again @26-34/40 in a couple of months and be able to rip off that scum again like last time,like they do....gl

[purple11] 18/9/2017 11:17

why pay 26 when you can pay 16!

[purple11] 18/9/2017 11:08

share in issue/cap still the same......

[purple11] 18/9/2017 11:05

I purchased some as a marker to stage in out get out/ from.gl

[purple11] 18/9/2017 09:12

mafiosiwannabee.......

[purple11] 18/9/2017 09:11

and the pi is cannon fodder.re that.nothing more nothing less.

we trade stocks not run oil companies.

Our job is solely to call right more often than not,on the direction of the ticker.

which is really quite easy to do.Add in risk management and handling size and you've a fighting chance to graft something out of it for yourself.

greed and fear run both ways.

always be happy to take a profit to keep you in the game.you don't have to run them all round the track.

that's track money-their money.take it.

with your money be very careful.

First they sink to the bottom. Then they come up; but not right away. They’ve got to be good and dead a couple of days. It isn’t time for these corpses to rise to the surface. They are not quite dead yet.
Jesse Livermore

theonewhoknows

[nesty1760] 18/9/2017 09:10

I was invested in BMR a few years ago. They had a CEO called Masood. He died a few years ago, so not gonna speak ill of the dead.
I was concerned at the time of his age runnning a company. I think he was something like 70. Do you really want drive and ambition at thats age or was it to just keep financially good in latter years. Sadly it was the latter & pi's were toasted.