Anglo African Oil & Gas Share Discussion Threads

[bad gateway] 28/6/2018 08:00

Joking aside they're looking cheap again and now the rig/boat is on the way may be worth another punt.

[money4me] 28/6/2018 07:57

are there pirates? (other than Sefton)

[honestmarty] 28/6/2018 07:23

Ship is on the move

But,

In the wrong direction?

[ileeman] 27/6/2018 12:34

Completely agree bobby.

Delays happen and 1 or two should not phase you however you should be at the very least be concerned when that number is close to 10 delays since IPO. Anyone that points out these delays are derampers or looking for a cheap entry apparently.

Will they drill this summer I hope so for everyones sake, place your bets.

[bobby1904] 27/6/2018 08:08

It's Africa folks - just in case some of you haven't noticed!! There will always be operational issues & delays. How can anyone invest in this sort of project & then constantly moan that things don't happen EXACTLY as anticipated? It's so naive!! Either sell your shares & move on, or just accept that things will happen in a more laid back timetable. But for goodness sake stop bloody moaning!!!

[honestmarty] 26/6/2018 17:22

iLeeman

The ship is a week late.

You can look it up on Marine Traffic.

There will be more delays, customs will take longer than expected, there will be drilling issues, the frack will be problematic.....

I don't think you have the stomach for it,

You should buy yourself some premium bonds

[ileeman] 26/6/2018 16:29

Yet more delays, 3rd or 4th delay since the new CEO came on board but let me guess all is fine.

Sefton should come with a big warning sign, it is almost like I can predict the future lol

[neo26] 26/6/2018 12:13

sunny

i think spud by end of aug, always add a couple of weeks to aaog target.

[honestmarty] 25/6/2018 16:13

My money is on the Giant Squid.

[sunnybeachboy] 25/6/2018 15:54

I'm holding 400,000 now. Yep I said 15th August as you can see. What other excuses are we gonna see from sefton.!

[bad gateway] 25/6/2018 15:43

Bit odd you being annoyed sbb? You posted that you only bought in a fortnight ago and that you were expecting an August spud then..

sunnybeachboy - 11 Jun 2018 - 15:36:55 - 2689 of 2752 Anglo African Oil and Gas Plc (AAOG) - AAOG
Just bought 120,000@10p so I can moan as much as I like. This won't spud until 15th August. Rig delay lads like I said.


Pretty accurate prediction imo. Did you doubt your own words?

[money4me] 25/6/2018 14:19

will it be cyclone season when the rig arrives and they can't start for 6months. Anything to delay it

[honestmarty] 25/6/2018 14:01

They gave us the name of the ship, AIS will allow us to track it.
Now given this is Fatboy Sefton and Captain America, I'll be disappointed if we don't experience pirates, hurricanes, tsunamis and possibly even a Giant Squid.
But, it IS going to happen.

[euclid5] 25/6/2018 11:58

From Finncap BN this morning:

"Small shiping delay. Frustratingly, Ocean Transport’s Kota Bakat cargo ship,
which will deliver the SMP-102 rig from Port Gentil in Gabon to the TLP-103 drill site, has been delayed. It is now due to arrive on 4 July rather than 26 June. The rig is expected to take 2-4 weeks to reach Pointe Noire in the Congo and another 3-4
weeks to reach the drill-site and be set-up. This suggests a mid-late August spud
date for the well"

[neo26] 25/6/2018 10:53

From early june to 26th june and now 4th july.Can understand investors frustration.

[honestmarty] 25/6/2018 07:16

Looks like the rig will finally be mobilizing despite the naysayers.

And 120 barrels, MINIMUM !

Excellent

[cf456] 22/6/2018 16:20

Plenty of buyers today, despite the price drift.

Next week is going to be exciting as more and more people start taking positions.

Getting in before the crowd is always going to be more profitable.

[aaogplc] 22/6/2018 16:12

Offshore well not onshore

[aladin1033] 22/6/2018 13:49

Cf this is old news and does not address many of our concerns

[cf456] 22/6/2018 13:39

"Investment case... AAOG provides investors with exposure to near-term, low-cost drilling in the Republic of the Congo with a mix of risk/reward from a single well. The TLP-103 well will be drilled this summer and targets three different reservoir sands on the Tilapia field: the producing R1/R2 reservoir, the discovered Mengo sands and the deeper Djeno sands, which have delivered impressive flow rates from neighbouring fields. The share price have decent support from the existing producing horizon, while upside potential in the success case for the Mengo and Djeno reservoirs is significant; we initiate with a risked NAV-based price target of 41p/sh."

"Let’s get ready… The main event, however, remains the drilling of the multi-horizon TLP-103 well. After some delay, the company now has everything in place to drill this summer. Importantly the well can be drilled from onshore, dramatically reducing cost. Moreover, the recent $10m placing means AAOG can fund 100% of the well cost if state-owned SNPC does not pay its share. Any additional partner cost incurred can then be clawed back from future production under the PSC contract terms."

"3 in 1 oil. This well is targeting three separate reservoir horizons with a range of risk/reward – low risk appraisal of 2mbbls of producing reserves in the R1/R2 sands (6.3p/sh), appraisal of an 8-24mmbbl undeveloped discovery in the Mengo sands potentially worth 18-45p/sh on a risked basis, and a deeper exploration prospect in the Djeno sands, assigned gross prospective oil resources of 16-42mmbbls. This final target carries higher risk (25% CoS) but also higher reward. Our risked valuation range for the Djeno of 16-39p/sh rises to 69-159p/sh when fully de-risked."

"Significant dividend potential. Our risked NAV for the ‘Best’ resource case from all three of these horizons is 41p/sh (106p/sh unrisked). In the ‘High’ resource case this rises to 90p/sh (241p/sh unrisked). Moreover, success with either the Mengo or Djeno sands would be expected to result in meaningful earnings and cash generation and open up the prospect of a significant dividend stream; management has committed to distributing between 50-75% of net profits after necessary capex."

[aladin1033] 22/6/2018 12:37

Neo they say nearby field but i think the minsala field is atleast 30km after doing more research plus our well is onshore and most of the successful wells in that are offshore i have seen a tweet saying we are drilling from onshore to offshore something about it being sidetracked but no confirmation of this from the company and im not sure how that works as we are 1.8 km away from the sea

[aladin1033] 22/6/2018 12:33

Neo tell that to soco:
Soco International PLC (LON:SIA) has plugged and abandoned the wildcat exploration well Bayingu-1 in the Nganzi Block, onshore the Democratic Republic of the Congo.The well encountered oil and gas shows in both the primary and secondary reservoir targets. The reservoir sands at the primary Lower Bucomazi target, however, were poorly developed, whilst the residual nature of the oil shows in the secondary Chela formation indicates lack of closure at this location. Chief executive Ed Story said: "All three wells that we have drilled have encountered oil and gas shows, reservoir sands and source rocks. While this has not resulted in a commercial discovery to date, the information gathered will allow us to refine our interpretation and better understand the prospectivity of this high potential block."Soco is an international oil and gas exploration and production company with interests in Vietnam, the Republic of Congo, the DRC and Angola, with production operations in Vietnam.Soco holds its interests in the DRC, all onsho

[neo26] 22/6/2018 12:23

Aladin 25% for exploration well is very very good.