Anglo African Oil & Gas Share Discussion Threads

[bluchina] 09/7/2019 01:17

Perhaps Zengas is giving Rick Crist too much credit. Has it occurred to Zengas that ATOG has not closed with MEDCO for 1) failure by ABO/EHGOS to complete the funding and 2) Gov. of Tunisia electing to not entrust a part of their national petroleum patrimony to an incompetent hoard? And as to mention of John Berwick's credentials, since when is the foreign legion a qualification for skilled management in the oil business? Track record as a "high level" executive? Think not. By his own CV, he as no more than an Ophir go-for.

[apfindley] 08/7/2019 22:25

Wow so its idiots like you who part with their money and give it to deluded vankers like whingingfroth so they can write articles full of supposition and maybe , and then feed it back to you as fact , so you can avoid investing in the companies they want you to avoid.You are one pathetic patsy.

[bad gateway] 08/7/2019 22:01

No thanks will wait and see how it plays out.
Big one for me is the financing for the Djeno. Will they get that away ok. Anything else seems incidental at the mo.

honestmarty you make these sound just like SAVP. Do you think dave is a secret ginger?

[bad gateway] 08/7/2019 20:52

Its a good question and AAOG would do well to answer concerns what with it affecting sentiment like this but couldn't see anything explained in your link jakNife.
Just this?
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[apfindley] 08/7/2019 20:40

As you say " maybe a coincidence"ie, NOT fact.

[apfindley] 08/7/2019 18:36

Yes for AN asset.They mention Congo they don't mention Tunisia. You really are drawing your own conclusions. So how about back it up with facts, or keep your misinformation to yourself until it becomes information.

[bad gateway] 08/7/2019 18:17

AAOG aren't hiding anything. From their Annual report..

"Potential new assets
At present, the Company is focused on drilling
TLP-103C and producing commercial volumes of highgrade oil from it. At the same time, the Company is evaluating other asset opportunities in the Congo and, possibly, further afield."

No idea what they've been doing due diligence on in The Congo but will be good to find out.

[honestmarty] 08/7/2019 18:08

310k for DD?

How many brown envelopes would that fill?

[zengas] 08/7/2019 18:06

That's correct, but it would be great to know what AAOGs target acquisition was at a cost of £310k for DD.

You have to wonder how Sefton/Berwick get the time to evaluate so may assets in a short space of time yet decide the Medco ones they want is for a totally separate company. Until we know otherwise, what's wrong they aren't bringing this asset fully to AAOG given they spent £310k on DD for an asset?

[apfindley] 08/7/2019 18:03

ATOG are investigating assets, IN TUNISIA.AAOG have an asset which has discovered oil, and with a 25year license, in CONGO. Yes it looks really compelling...to any conspiracy theorist.

[zengas] 08/7/2019 17:37

In the accounts to end of Dec 2018 AAOG incurred costs of £310,495 for DD towards a potential acquisition. Unfortunately there's nothing to indicate or say what the target acquisition was or if still being progressed or where it was located ?. A company can of course carry out DD and then find it's not after all a suitable acquisition while still incurring the cost.

Friday 22nd March 2019 - Anglo Tunisian Oil and Gas was incorporated.
Monday 25th March 2019 - James Berwick appointed CEO of ATOG.
Tuesday 9th April 2019 - 18 days after ATOG was incorporated and 15 days after James Berwick appointed, the subscription based Africa Intelligence was able to report -

" According to our information, the new firm has already struck up talks to pick up all or part of Indonesian oil group Medco's Tunisian portfolio. Since 2014, Medco has held stakes in eight blocks, seven of which it operates. Two of these, Adam, operated by Italian major ENI, and Bir Ben Tartar already produce some 16,000 bpd. But the discussions seem to have hit a snag for the moment. It appears the financial firm overseeing the sale of Medco's shares, Askell, headed by American national Rick Crist, is reluctant to validate the transaction. When contacted, neither Crist nor Sefton wished to comment. '

My question is how and when did the new company (ATOG) instigate talks to buy the Medco assets in Tunisia or were Berwick/Sefton already in discussions prior to ATOG being formed given it was formed solely for Tunisia where coincidentally the Medco assets were ?

From ATOG incorporation and CEO appointment to AEI picking up the story is just 18 and 15 days later (including weekends) how did ATOG suddendly get into these reported discussions (if true) in such a short time period yet reportedly hit a snag with 'Askell' reluctant to validate the transaction. What cash or loans does ATOG have for any DD/pursuit of the asset ?

3 directors (2 French, 1 Belgian) were appointed to ATOG on 2nd May so appears to be gathering pace as a company.

[honestmarty] 08/7/2019 17:21

Look up the registered address.

Street view

[honestmarty] 08/7/2019 17:00

Professional poker players

[honestmarty] 08/7/2019 16:52

Google their bedfellows in ANGLO TUNISIAN OIL & GAS LIMITED

[apfindley] 08/7/2019 16:48

You've no interest here, yet you're obsessed by it.You seriously need to get a life, you come across as lonely bored and desperate.Sit yourself down with a pizza and chill out.

[bad gateway] 08/7/2019 16:21

So you stopped being a regular advfn user so you could troll these?
Still nothing in this new co. thats dodgy seagreen Certainly no proof of the directors using $300k of AAOG's cash to do DD?
Are you sure you're not just trying to drive this co. into the ground with lies and innuendo?
Reading your posts it would appear so.
It also appears most of Toms breaking info is just a rehash of your nonsense he even repeated your lies about this being death spiral finance.
Hope your online slurs and activities haven't stopped them getting the finance they need would be a shame to see them suffer at the hands of a troll like yourself.

[seagreen] 08/7/2019 16:19

Well it amused me from the auditors web site

[seagreen] 08/7/2019 16:09

Other serious red flags for people who understand accountancy if not go and discuss with your friendly accountant in the local from the annual report:

From the Independent Auditors Report pages 17 - 20

Material uncertainty related to going concern
We draw attention to note 2 in the financial statements, which details the factors the Group has considered when assessing the going concern position. As explained in note 2, the directors accept that there is a material uncertainty in respect of going concern, but are in receipt of several non-binding offers of capital finance, which they are considering. Should this uncertainty not be resolved, this may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

IE NO FINANCE AND THE COMPANY IS BUST

Recoverability of debtor balances (note 16) page 29

Significant estimation is required in the determination of the fair value of debtor balance due from SNPC. The payments made by SNPC to the date of this report, and the stated intention of SNPC to repay the amount due, were reviewed. Judgment was required in determining the likely value of the debt and the balance that should
be carried in the financial statements.
SNPC debtor at 31 December 2018 £’000
Amount due from SNPC 6,242
Provision brought forward (869)
Impairment provision (1,537)
Carrying value 3,836

Received since 31 December 2018 1,500

As noted in the Group strategic report, since the year-end, SNPC has made three debt repayments, has confirmed in writing that it acknowledges the debt and expects its monthly repayments to increase from July 2019 onwards. If the debt is repaid in full, the provision will be written back; if not, there is a potential additional
provision as at 31 December 2018 of approximately £2.3 million, taking account of amounts received subsequent to the year-end.

[bulgarian] 08/7/2019 16:04

TW is like a dog with a bone when on the scent.

Squeaky clean always pays.

And helps protect casino goers / shareholder value.