Anglo African Oil & Gas Share Discussion Threads

[cashandcard] 06/9/2018 09:44

ronwilkes,


Already stated the specifics of the issue are not known, but we do know its topside not downhole.

Tell me something, does the RNS change the prospectivity of the horizons they are drilling?


Cash

[ronwilkes123] 06/9/2018 09:41

As we all are mate as no one knows the issue

[cashandcard] 06/9/2018 09:40

ronwilkes,


All I am doing is going by the wording of the RNS.

You are stating your own opinions, based on your pessimism.

There is valid reason to be pessimistic with this company, based on what is known, not on what is made up.



Cash

[cashandcard] 06/9/2018 09:37

sleveen,


Exactly. Someone's neck needs to be on the line regarding that. AAOG actually posted on twitter stating that aswell.


Cash

[ronwilkes123] 06/9/2018 09:36

But they will be on the listDon't let optimism blind you

[cashandcard] 06/9/2018 09:34

Replace rig?

That is a huge leap from;

"The Company is working to determine the optimum solution with a view to restricting any delay to a matter of weeks"


Cash

[ronwilkes123] 06/9/2018 09:32

Two of the solutions will beReplace rigPlug and abandon holeThese are assumptions - but people need to be realistic here - a small cap ep cannot sustain protracted events like this. The risk here has risen 10 fold

[dandadandan] 06/9/2018 09:30

'A specialist review of the various solutions is undertaken'.

What do you not understand about the word SOLUTIONS.

Game still ON.... It is not over until the 'fat lady sings'.... :)

GLA.

[ronwilkes123] 06/9/2018 09:28

We don't even know he's an engineerHe's a specialist - they haven't even confirmed it's an engineer

[ianio5691] 06/9/2018 09:27

Stop scaremongering Ronswilkes123.

Until we know the detail of the issue, it could be anything. You are painting an absolute worst case.

That their is an engineer on his way suggests a breakdown, which will be fixed with replacement parts in a couple of weeks - worst case.

Read the RNS

[sleveen] 06/9/2018 09:25

From RNS 2.8.2018:

"Having cleared customs at Point Noire ahead of schedule, the set-up of the SMP-102 rig is now approximately 80% complete. Accordingly, AAOG anticipates that the TLP-103 well will spud on 15 August 2018 subject to rig testing and acceptance."


Why wasn't the issue spotted at inspection/testing?

[ronwilkes123] 06/9/2018 09:24

So the rig may have to be replaced meaning game over

[cashandcard] 06/9/2018 09:22

It is vague in that it does not state what the issue is, BUT it clearly states 'topside issue that has affected the rig' - meaning the above ground part of the rig has an issue/problem (they are not vague about that, which is why they have actually stated it).


Cash

[ronwilkes123] 06/9/2018 09:14

That update isn't clear it's vague - what is the issue

[cashandcard] 06/9/2018 09:12

How is this assumption?

"The Company has been informed by its drilling contractor, SMP, that they have experienced a topside issue that has affected the rig. As a result, the Company has taken the decision to temporarily suspend drilling TLP-103 while a specialist review of the various solutions is undertaken. The Company is working to determine the optimum solution with a view to restricting any delay to a matter of weeks"


You seem to be ignoring the clear wording of the update itself.



Cash

[ronwilkes123] 06/9/2018 09:11

Until they update further anything is just assumptionFor example is the whole rig needs replacing then aaog has huge short term funding issues - it may very well have to place again at a huge discount

[edgar222] 06/9/2018 08:56

Stotty on twitter says Berwick in the Congo and hopes to update tomorrow.

[cashandcard] 06/9/2018 08:47

Lots of confusion here regarding yesterdays update - of course we do not know exactly what the specifics of the problem are. But I would suggest rereading the RNS and focus on 'topside issue' which is affecting the drillrig. Then go and check what 'topside' means in relation to a drillrig.


Cash

[ronwilkes123] 06/9/2018 08:44

Please provide evidence of the ceoComment

[ronwilkes123] 06/9/2018 08:40

Where has the ceo said it was linked to a sandy problemYou know a sandy problem would be a major issue

[dandadandan] 06/9/2018 08:37

CEO said it was linked to a 'sandy problem'.
Does Google Earth show what is under the surface and what form the rigs foundations?

The 'sands of time' will let us know soon......

Time is MONEY....

GLA.

[ronwilkes123] 06/9/2018 08:31

No one knows what the problem is - it could be anything

[thamestrader] 06/9/2018 08:24

Shifting sands???
Have you seen the wellsite? Go and have a look on google earth and decide for yourself whether you think shifting sands is a realistic possibility.

[pro_s2009] 06/9/2018 08:21

SP should stabilise today and then wait for updates........

[jonnyfro] 06/9/2018 08:16

Jb is in the Congo expect a decision today/tomorrow