Share Name Share Symbol Market Type Share ISIN Share Description
Anglo African Oil & Gas Plc LSE:AAOG London Ordinary Share GB00BD0Q3L08 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.30 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.1 -11.7 -9.3 - 1

Anglo African Oil & Gas Share Discussion Threads

Showing 8826 to 8845 of 9375 messages
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Its not just payment delays from Congo I'd be worried about.

Its also the money owed them by ATOG, plus any finders fees that they may be obliged to pay out on Tunisia.

These opportunities don't appear out of thin air, and from what I can read, the Tunisia opportunity came to AAOG first.

they will raise on the back of payment delays, how much and what price?


Just for clarity:

On 12th July, AAOG announced they had spent approximately £580000 on the Proposed Acquisition.

On 16th December, AAOG announced they were going to be paid £150000 by ATOG this week "to cover costs incurred by the Company in pursuit of that acquisition. The Company is in discussion with ATOG about the quantum and timing of further repayment (if any) to AAOG to recover other expenditure that was incurred in this regard."

Even if the £150000 payment happens, AAOG are still over £400000 down.

Personally, I'm not holding my breathe that further payments will be made.

Thanks seagreen that is very informative; its good to know who the decent folk on the Board are.

Have to say, I am sceptical of the effectiveness of NOMADs as de facto regulators and for generally looking after shareholders. I have just lived through the car crash that was Cabot where the NOMAD waved through a 'whitewash' allowing the majority shareholders to screw the PIs and essentially grab the company on the cheap.

I hope Finncap do the decent thing here and suspend the company pending investigations as to what has gone on here.

Bring on Cinderella (to be played by Alexander) and the Prince (Oleg)and lock up three ugly sisters (Cane/Beck/Butler)

All those in favour go Ayeeee

Mesk1234, does the following bear out part of your allegation?

Taken from AAOG press release on 12th July 2019:

“It was therefore agreed at a board meeting on 5 March 2019 that any costs which the Company had incurred in relation to the Potential Acquisition prior to the beginning of March would be reimbursed by the SPV [ATOG] in due course if the Proposed Acquisition completed. It was also agreed that management would present to the board any opportunities for cost-sharing between AAOG and the SPV [ATOG]. No legally binding agreement has been entered into between AAOG and the SPV [ATOG] in this regard and as such there is no guarantee that the Company will be reimbursed at all by the SPV or any other party, even if the SPV completes the Proposed Acquisition, and there will be no legal remedy for AAOG.”

To my naïve eyes this looks like ATOG saying "Yes, we'll pay back the AAOG Acquisition costs on completion.." but then in the next breathe they seem to say "...But we have no legal agreement in place so we don't actually have to pay anything and you can do nothing about it".

So what does that prove-diddly squat
Lots of buying today
boris 2020
Hiding nothing. There was a connection, only in that at one stage there were two common directors which is no longer the case.
Well, it may be the case now, but its not always been that way has it?...…

Why do I get the sense you're hiding something? I think I'll keep digging.

There is no tie up at any level they are separate companies, with no connected shareholders and now no directors.
I'm interested in this AAOG/ATOG tie-up. Sounds very odd. Can anyone give me a potted history about what happened?

Thanks in advance.

It is not the delay to plans that worried me. Delay is delay and they are owed millions by a Govt that is negotiating licence terms.Berwick leaving cannot be said to be a good thing on any level.So I would be punting now to reduce my average in circumstances where the Company might not exist soon.But punt I might.
Fully agree with your post Sea.

When i said little if any oil there, there may not be enough commercially to warrant development even if they did produce.

I brought up the size of the potential reserves in the first CPR re the Mengo and in my eyes these didn't add up post drill to anything meaningful to warrant any significant valuation and nothing to show for the Djeno other than an oil column with limited data.

Again if they sidetrack from the current location back into the Djeno and get more of the same and no meaningful production, it might be time to call time on the entire project. They can have a Djeno oil resevoir just like they have reservoirs at the Mengo and R1-3 but if the reservoir is of limited areal/lateral extent/problematic it might not bring in the P2 numbers. This is why the latest CPR was so crucial. What's missing at the current drilled location and what can they be sure of versus similar risk at the sidetrack location?

This is something any new management or those left to manage if other people do go - to weigh up if this entire project is worth pursuing or rebuild the company up with new or additional lower risk assets and financing.

The key is to get management talking to SNPC and the Government and get a management team they respect, trust, believe can deliver and want to talk to as both the previous individuals seem to have gone down like a lead balloon...if they can get a licence extension then the market will start believing in the project again and providing SNPC start repaying their debt and if they can clear up that ridiculous financing deal who are presumably still paying back/subscribing to shares the monthly amount of shares but now at .5p and not 5p. (unless I am missing something) So the sooner they can get the share price back up then the more money they would receive. The current market cap appears to be down to 1.3m....

Thinking about it I am surprised someone does not take it over at that price and go hostile as they would could get rid of the dilution and if they had the finance to absorb what ever the debts are and clean the balance sheet up and had SNPC's backing bob's your Uncle....but again the key would be the licence renewal.

Not sure why a neighbouring major with good relations with the government and currently drilling does not just snap it up if they offered 5p a share or £10m it would be petty cash to them.

Anyway just have to wait and see for now dodge I doubt they would drill anything until they get the licence extension and there is the conundrum that requires sorting with diplomacy etc

I note the buys have suddenly started but maybe that is part of the monthly finance deal...worth keeping an eye on the volume as if it ever goes ballistic it may mean they are near to sorting everything out.

While the SNPC is not making regular payments it may well continue to pay something, also is there not an option for producing from a higher interval?
It is 0.5 check decimal point?Anyway time will tell
Seagreen I think 100/1 is being kind, how can it raise funds at 0.5p? I think the 2 clowns have stitched up aaog so much there can be no recovery. Question is how did the major shareholders allow this to happen? What was Miton doing about protecting their investment? Kilkenny sold a large chunk of their gcm holding as they were buying into aaog. They must be furious given gcm's progress.
Gervais must be livid
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