Anglo African Oil & Gas Share Discussion Threads

[10p here we come] 27/9/2017 08:23

Would you buy this stock now?

If so, why?

[aimmafia] 27/9/2017 06:50

De rampers out in force. All looking for a cheap entry lol

[soulsauce] 26/9/2017 16:16

Alam I think you should re read the RNS and interpret it differently.

[neo26] 26/9/2017 15:27

tim

can you not read accs?

[timw3] 26/9/2017 15:22

Exactly and how long will the $2m last with say $300k per month cash burn?

surely they wont go into the drill with $500k remaining.

Think about it!!

[money4me] 26/9/2017 15:19

certainly the return from a share price at these levels if they drill and have black gold will be very healthy indeed

but how low will it go from now until Jan.

[neo26] 26/9/2017 15:09

Alam

We know your game, come to make a penny rise here and there, so the delay doesnt concern you one bit? We know you are here for the bounce. Go and read the admission doc and read what they wrote today.

Cash

I tend to agree with you, im very positive when they do eventually drill the company will do ok, we shall see where this ends up in the short term. My guess Feb/march they will probably drill..

IMHO

[cashandcard] 26/9/2017 15:03

neo26,


Its entirely possible they had the wrong bloke in charge - a mistake on their part. OS's performance has been poor so far. Moving towards the most important well in the campaign, its good they reviewed and got shot of him. I would echo your sentiment re, monies but I think they have been around long enough to know the best time to do a raise (albeit small) is probably after rig is confirmed and about to drill.

Before we get carried away with how bad it is, its important to note in the report, they are hinting at possible production from current Mengo horizon discovery even if Djeno is a failure.


Cash

[loveandmoney1] 26/9/2017 14:57

bought a few gl

[alamaison5] 26/9/2017 14:54

neo26 - 25 Sep 2017 - 15:27:09 - 30089 of 30100 Churchill Mining - CHL
It was out of our hands when the licenses were taken away from us.

Did you guess that one too, lol?

[neo26] 26/9/2017 14:46

AlamThis is going down to 10p.

[neo26] 26/9/2017 14:46

But do you trust the donkey in charge?He said they will have no issue in getting a rig, that was a lie...The current workovers are waste of money, they should stop wasting money on those. Companies have tried to pump oil out and nothing has come of it..

[alamaison5] 26/9/2017 14:32

13.75p IS THE BOTTOM:
Time Market Maker Size Price
08:41:00 F 10000 13.75
10:26:00 F 10000 13.75

Price Size Market Maker Time
14 10000 F 13:55:00
14.25 10000 F 08:23:00
14.25 10000 F 10:25:00

[timw3] 26/9/2017 10:09

Zengas their cash burn is proberly $300k per month. Lets say they start drilling in jan/feb next year that another $1.5m gone from the $2m leaving them with $500k going into the drill.

Hardly cash rich and leaving them very vulnerable

[zengas] 26/9/2017 09:54

£10m raised ipo = £8.8m net after expenses.

$2.5m (about £2m) cash consideration for field = £6.8m.

Workover & loans circa £300k = £6.5m.

Cash in hand yesterday = £4.1m or £3.25m approx. "which partly reflects the gross acquisition cost of certain long lead items for the drilling of TLP-103, a share of which is recoverable from our partner, SNPC." - ie imo they have pre paid upfront for long lead items associated with the well and separately as the field wasn't at breakeven and with admin combined = £800k. They have contributed to those costs as well as updating the flow lines for end of next month ?.

AAOGs budgeted remaining cost is approx $2m therefore will have $2m surplus of which they allow a further $700k contingency for the completion of deeper Djeno target if successful. $300k owed for prepaid costs.

Can't see them needing any finance at all and it's down to next months flow lines update then rig and drilling.

[novicetrade68] 26/9/2017 09:47

Odd that they announce the appointment of a new drilling manager in their results instead of a seperate RNS. Would also be good news how much they can reclaim from their partner following these purchases of drill parts.

[cashandcard] 26/9/2017 09:35

On a slightly more positive note, from below it sounds like they are to atleast complete well TLP103 for production in one of the two horizons they are going to assess;

(Outlook)

"As of today, we have in excess of $4.1 million cash in hand, having pre-paid approximately $700,000 of drilling costs. AAOG's share of the remaining budgeted cost for drilling TLP 103 is approximately $2 million, with a contingency of a further $700,000 needed only if the Djeno is unproven and we therefore complete the well for production from the Mengo"



Cash

[timw3] 26/9/2017 09:27

placing price? 12p?

[cashandcard] 26/9/2017 09:17

soulsauce,


That is a concern. I can see a them heading to markets in and around drilling to secure finance.


Cash

[soulsauce] 26/9/2017 09:15

cash to only have a third of the money raised left after only 7months and a drill programme on the way is rather concerning.
There is no way they are going to start a drill with only £3.25m remaining and the drill taking a big slice out of that. If they do then they are stupid and if the drill result is poor or difficult they could see them raising less than 5p. I don't see them being that confident or stupid.

[cashandcard] 26/9/2017 09:09

Interesting. Of the £10mln raised;

"Our expenditure since IPO reflects the acquisition of the shares in Petro Kouilou SA, the gross cost of the workovers undertaken at TLP-101 and TLP-102, the general and administrative costs and listing costs.

We currently hold in excess of $4.1m (GBP3.25m) cash in hand, which partly reflects the gross acquisition cost of certain long lead items for the drilling of TLP-103, a share of which is recoverable from our partner, SNPC"


I would like to see a breakdown of that £7mln spend.

The share of monies recoverable from partner is $300k.



Cash

[donald tramp] 26/9/2017 08:59

Mind you it's nice that it's come down below placing price, but where is the bottom, there is no way I am buying yet, but each to their own.