Aoi (Regs) Share Discussion Threads

[ccr1958] 30/11/2012 04:30

Hello all.. just got in today... Had this on the radar for a while .. Looks good ..omho... ccr.

[meljohn] 29/11/2012 21:48

Good post Cash. Perspective is pretty important. I've been in since $1.70 so I suppose I should have no complaints, but I'm still none too happy with the 'friends and family' private placement that gives discounted shares to the favoured few and hits the rest of us for 20% of our capital. There is still plenty of upside, and I've not sold a single share, but this sort of thing still REALLY irritates. Juju may be a first rate wind up merchant, but it would not be wise to ignore the point he is making just because it is he who is making it. The reality is that we now have a bunch of people who have discounted shares and in 4 months time will probably be looking to cash in knowing that they are the favoured few and will be able to acquire more discounted shares at some time in the future ...

I try and be as dispassionate as possible in dealing with shares but this still leaves a bad taste in the mouth ...

[marty51] 29/11/2012 21:40

Amen to that Cash, a brilliant factual post and when we have all had a bit of a whack... even better reading.
Ive got a oner in here and Im convinced it will be three times that by year end 2013, where else to you get returns like that?
Ive had a bit of a shuffle around and reduced my holding to bang it into HRN for leverage, one sniff of a decent partner in Punty and it flies....where to I dont know, but its only worth £17m with £10m in cash.

Youre dead right its all about Tullow, we have HALF A MILE of fractured rock, even if its not commercial the 30m will be and as all the analysts say.....this is a billion barrel basin...if you listen to Tullow however, I think youll find they think its more.

Hill reckons Ngamia is up to 4 times the 137m reserve estimate, thats potentially half a billion barrels in well 1, no wonder theyre shifting focus from Uganda.

Bumpy week yes.$30 dollar target price.......easy.
We have a pile of cash that is going to prove up some serious oil.

Short term pain
Long term gain

[cashandcard] 29/11/2012 21:27

Not for you mate. I have been here from after initial Ngamia discovery. They have made me a small fortune in what is otherwise an appalling market for most fledgling companies this year - they have made me money, no complaints. Look around, tell me how many have returned what they have this year and how many offer the prospective resource base, partially derisked like they do? I agree, K Hill seems to have got a low price for the PP, but from what I understand, they had to make it happen asap as further news is due shortterm - some good ? ....some bad aswell maybe?

I understand if those who bought in recently over the current price are annoyed. All I can say to them is just be patient. The story here is not just about AOI and Hill as a robust investment outfit. The Rift valley is and will continue to be about the expertise of Tullow Oil. There is noone better you could want as a partner and (need I say) they have an extraordinary track-record for delivering the goods. We are involved in and witnessing likely the biggest play-opener by Tullow and the opening of one of the biggest regional oilplay's in recent history, with well upon well to come. How often do you get to be involved in that? I was in GKP and sold out for many many multiples of the 2008 crash price I opportunistically bought at. As long as Tullow continue to deliver success in the Rift, I think we'll all see very handsome returns in the not too distant future, not just the early birds.

Cash

[marty51] 29/11/2012 21:17

Im not judging you juju, you just seem to come out when its a down time and whinge.
You wont make any money if you keep unloading or panicking when it gets bumpy.
"not for you or I"......your words
lets see where HRN are in 12 months shall we?
0.275c today.

[juju44] 29/11/2012 20:53

i wont be taking your advice marty. i am in this to make money . just think you need to know how to stay with the suits and their manipulations.
with your record of advice at HRN i dont think you are qualified to judge me

[marty51] 29/11/2012 19:38

Then do one.
Jeez youre so negative, we have 4 times the price this year even with the kicking we have just had.
Thats the way it is.

If you cant stand the heat get out of the kitchen.
Its frustrating but its a 3 to 5 year plan and guess what....

they dont go up in a straight line.

[juju44] 29/11/2012 17:33

Cash , how is it good and rubs it in. They said OK to a bunch of cronies who then sold their shares north of 10$ knowing they could buy them back below 8$. Joe punter gets mugged again. Thats the game in this business - its rigged to the hilt and not for you or I

[meljohn] 29/11/2012 10:44

If demand is so good they surely could have got a better price. But if the placement is now out of the way we at least have a chance of recovery.

[cashandcard] 29/11/2012 10:28

Well, that's good and it really rubs it in, almost like saying we don't need to go to the market boys with hands out begging for funds:

"Africa Oil Corp., due to strong demand, has agreed to increase the previously announced private placement. The company will now sell, on a non-brokered, private placement basis, a total of up to 30 million common shares of the company"

Just a little disappointed they did not achieve a better price for the overall fundraiser. I make that circa $280-290mln funding in the kitty to go ahead and drill drill drill.

Cash

[fsu gold investor] 28/11/2012 23:51

Africa Oil increases financing to $232.5-million

Africa Oil Corp (C:AOI)
Shares Issued 222,097,605
Last Close 11/28/2012 $8.06
Wednesday November 28 2012 - News Release

Mr. Keith Hill reports

AFRICA OIL INCREASES PRIVATE PLACEMENT TO $232.5 MILLION

Africa Oil Corp., due to strong demand, has agreed to increase the previously announced private placement. The company will now sell, on a non-brokered, private placement basis, a total of up to 30 million common shares of the company at a price of $7.75 per share for gross proceeds of up to $232.5-million. All shares have now been placed.

A 4-per-cent finder's fee may be payable on all or a portion of the private placement.

Net proceeds of the private placement will be used toward the company's continuing work program in East Africa, as well as for general working capital purposes.

Shares issued pursuant to the private placement will be subject to a four-month hold period under applicable Canadian securities laws.

The private placement is subject to regulatory approval.

[meljohn] 28/11/2012 22:26

It's up but it's not wonderful ...

[fraserdean] 28/11/2012 16:27

Looks like the buyers have got a decent return already, not bad for a day's work

[eipgam] 28/11/2012 13:15

I would think that the buyers will be expecting a decent return. I'm still holding and waiting for a better update/news from TLW

[meljohn] 28/11/2012 11:48

it was certainly a crazy reaction - and we have yet to see if its finished yet - as our string of pearls falls into place.

[cashandcard] 28/11/2012 11:07

MelJohn,

Markets reaction to the news, which confirms the southern-string theory, was downright poor. Its no wonder they decided to shun the brokers and II's and go for a private placing. Atleast now, if the brokers want any bulk, they aint getting them from AOI through a cheap placing, they will have to buy like most of us in the market.

Cash

[meljohn] 28/11/2012 11:03

So the share price falls to the placement price. Predictable or what?

[cashandcard] 28/11/2012 10:45

Mixed Feelings about the $193.75mln fundraising.

-not happy at the price the placing was agreed, $7.75/share
-very happy it was a non-brokered private placing (Lundin family and co. etc)
-circa $250mln cash available to really go for it now, extend the play as much as possible.
-II's will have to pay a higher price later on for bulky positions

This PP has shown KH's weakness, not as an oilman, but as a boss and his ability to get the best deal for ALL shareholders. However, times are not great and I'm just happy they have the funds now and can move onto testing and announcing what the flowrates are like at Twiga-South.

Cash

[fraserdean] 28/11/2012 09:45

Investec upgrade to buy this morning although TP reduced from SEK 75 to 70 (currently around 51)

[robizm] 27/11/2012 22:08

Conference call on YouTube but not good quality