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Anglo Afri O&g Share Chat (AAOG)



Share Price: 6.80Bid: 6.70Ask: 6.90Change: -0.15 (-2.16%)Faller - Anglo Afri O&g
Spread: 0.20Spread as %: 2.99%Open: 6.90High: 6.90Low: 6.80Yesterday’s Close: 6.95


Share Discussion for Anglo Afri O&g


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Tiburn
Posts: 1,462
Opinion:Strong Buy
Price:6.80
ENI offtake?
Today 19:34
Congo oil blocks and location of Nene field - Tilapia is also shown.

https://www.energy-pedia.com/news/congo-brazzaville/newage-to-sell-its-stake-in-the-marine-xii-oil-block--offshore-the-republic-of-congo-175210

Eni Nene Field description:

https://www.offshoreenergytoday.com/eni-production-begins-from-nene-marine-field-offshore-congo/

“The Nené Marine field, located at a water depth of 28 meters and close to existing plants, produces from Djeno pre-salt formation”

“During the production test Nené Marine 3 well delivered in excess of 5,000 barrels of oil per day with a density of 36° API.”

Tilapia has density of 43° API – much better, top quality sweet light crude. If co mingled with Eni Djeno production then average would be more profitable overall if sold to them.

The following is ENI description of their assets development in Congo, showingg the rapid pace and scale of bopd that can be achieved by a Major.

https://www.eni.com/en_IT/operations/upstream/exploration-model/congo-nene-marine.page

“Oil produced during the first phase – 7,500 boe/day – is being sent to the Zatchi production platform via a 17km subsea pipeline. Full development of Nené Marine will take place in stages, involving the installation of production platforms and the drilling of more than 30 wells, with output expected to plateau at over 140,000 boe/day”

On timeline, at bottom of page, September 13th:

“17km of Pipeline connecting the New platform and the Zatchi field are laid in three weeks….the oil produced will be sent ACROSS LAND through the pipeline connecting Zatchi and Point Noire”

The Zatchi area is located 40km northeast of Tilapia.

If this is where the land based pipeline goes from towards Point Noire, it starts directly opposite the Nene offshore field, as per the first link figure, so would make some sense - Skittish may confirm.

This land based pipeline could pass reasonably close to Tilapia.

If Eni can lay 17km of pipeline in 3 weeks subsea, they can connect up to Tilapia rapidly for offtake.
 
scoredagainsteps
Posts: 3,141
Opinion:No Opinion
Price:6.80
Happy
Today 18:19
This one next enjoy
Nig1954
Posts: 14
Opinion:No Opinion
Price:6.80
25p medium term target
Today 17:59
Sadly young Jethro passed away recently so Jed must have been digging on his own. Maybe, that's why it's taking so long to come together
skittish
Posts: 385
Opinion:No Opinion
Price:6.80
RE: 25p medium term target
Today 17:07
For anyone born after 1975 -

https://www.youtube.com/watch?v=YD22a4APsCg
skittish
Posts: 385
Opinion:No Opinion
Price:6.80
RE: 25p medium term target
Today 17:02
That would give us a market capitalisation of a heady £60 million.

Wow - outrageous!

From some of the comments on here you would almost think Jed Clampett had drilled our well.

In fact you would think no one had ever drilled a well before, and DS and co, having discovered oil (that's black gold, to you), were now completely stumped as to how to get it out of the ground.

Hint - oil wells have been drilled before, and they're not.

But he has a plan.
evenstevens
Posts: 396
Opinion:No Opinion
Price:6.95
25p medium term target
Today 16:51
Change of thread name - just for the hell of it!
Drewky
Posts: 7,819
Opinion:Strong Buy
Price:6.80
RE: 5p placing
Today 16:48
Place has been full of it lately sardy and today we attract the antichrist pump and dump king.

All rational honest discussion likely to disappear fast. Don't get suckered either way folks don't be a sheep, do your own research and remember it's not all about getting rich in one day!
Sardypaul
Posts: 2,616
Premium Chat Member
Opinion:No Opinion
Price:6.80
RE: 5p placing
Today 16:39
Yes Drewky one of those I was referring to earlier
Drewky
Posts: 7,819
Opinion:Strong Buy
Price:6.85
RE: 5p placing
Today 16:30
New2trade you stated you sold out the other day now you talk of "US" and then advise Strong Sell in the same post. Me thinks you are extracting the urine and full of bs
bigupajc
Posts: 17
Opinion:No Opinion
Price:6.80
Level 2
Today 16:29
You can sell 150k at 6.7 but only buy 50k at 6.9.

Someone will have accumulated a lot of stock over the last week.
woody2002
Posts: 3,923
Opinion:No Opinion
Price:6.85
RE: Weirdly Positive
Today 16:16
Shares can be issued pending resolutions being passed. Ive seen just recently THR take over 2 companies pending resolutions being accepted by shareholders.
Morningsun
Posts: 868
Opinion:No Opinion
Price:6.85
RE: Majors Interest
Today 16:01
Thanks Skittish,

Trucking is indeed a challenge and not sustainable in the medium term even but short term it IS an option. It's 52 km to the Djeno terminal and one can just avoid the centre of the city. It takes an hour and a half (according to the mapping tool), depending on traffic of course but that just adds extra trucks.

Anyway, it is clear long term more investment is needed, very likely in export facilities given your remarkls about the CORAF refinery.

One would prefer to export anyway as it gives more options then just being dependent on that local rfefinery. Unless a big player steps in and actually builds a proper refinery, pipelines and import/export terminal for all the production in the region and export distillates instead of/as well as crude export/import. But that also depends on the longevity of the fields and the security of the region.

Certainly won't be done by AAOG at any point.

MS
skittish
Posts: 385
Opinion:Strong Buy
Price:6.85
RE: Weirdly Positive
Today 15:23
I doubt if anyone is forward selling placing shares because at present there is no authority to issue shares.

At least not if they want to be in a job after next week.

www.fieldfisher.com/publications/2017/02/forward-selling-of-placing-shares-leads-to-public-censure-and-fine

Anyway, as has already been pointed out, DS had authority to place until recently under last years' resolution, and chose not to do so.
Sardypaul
Posts: 2,616
Premium Chat Member
Opinion:No Opinion
Price:6.85
RE: AAOG
Today 15:17
A few not so subtle deramps there guys, never heard so many alternative scenarios banded about,most having a clear agenda, why not hold your tongue for a while and see what transpires. Buy in or get out but ffs stop these incredibly repetitive ill researched musings !,
SUFCESSEX
Posts: 8,045
Opinion:No Opinion
Price:6.85
AAOG investors remind me of
Today 15:10
Tyson fury

We get hit by a knocked out

But amazing We still get up and carry on fighting our corner :-)
new2trade
Posts: 505
Opinion:Strong Sell
Price:6.85
5p placing
Today 15:04
Hopefully hear news soon about funding. And hopefully not too much dilution , but once it's voted through soon that he can just raise large amounts without vote , then I just hope for investors sake it's above 5pence. He might surprise us , and raise us at a much more acceptable level of 6 p. Time will tell ,
woody2002
Posts: 3,923
Opinion:No Opinion
Price:6.85
RE: Weirdly Positive
Today 14:59
Depends if they are selling placing shares... production and processing equipment is different for Djeno than Mengo, the hint was in the interview imo. I find it difficult to believe all these people are "topping up" despite this.
skittish
Posts: 385
Opinion:No Opinion
Price:6.85
RE: AAOG
Today 14:40
Mick2020 - the original timetable certainly included provision for casing etc

https://ibb.co/J54KMqv

so I assume, as they kept roughly to this timetable (excluding all the delays and difficulties) it was completed.

The last Djeno section may not have been cased (maybe that is part of the problem with the plug?) as from what I understand they encountered very high pressures.

DS appeared to suggest originally (from what I recall reading) that the amount of mud pumped into the well may have damaged the drilled formation to prevent it producing, however he seemed to change his mind when oil came to the surface.
HeidHoncho
Posts: 1,980
Opinion:No Opinion
Price:6.85
RE: AAOG
Today 14:32
“plug had fracture which allowed enough oil through to provide reservoir info but not viable to produce from. The seep through has been studied for weeks now and measurements taken daily which provided useful stats.”

Can anyone point me in the direction of information RNS’d about this failed plug ?

I can only logically assume that it failed latterly, as you require to pressure test a plug post placement so as to ensure that it is effective.

Additionally, how do they know that it is fractured, as to passing up the back side annulus through channeling having potentially formed during placement.

I would be surprised if they were permitted to perform any form of production from the reservoirs above it prior to rectifying the issue, and if the rig were still on site at the time that it was identified to be passing that they were permitted to suspend the well prior to rectifying the failure.

I appreciate that the well is in Africa rather than the North Sea, but never the less there are still global well control standards that require to be met.
skittish
Posts: 385
Opinion:Strong Buy
Price:6.85
RE: Majors Interest
Today 14:17
I think there will be a number of constraints on production initially.

The CORAF refinery at Pointe Noire 17km from Tilapia, has a present total capacity of 21,000bpd, and it generally works at close to 100% of this capacity.

www.industryabout.com/country-territories-3/67-congo-republic/oil-refining/157-coraf-pointe-noire-oil-refinery

There are proposals to increase the capacity closer to 30,000bpd, but not for a number of years. The refinery has something of a chequered history, being completely shut down between 2010 and 2014. Even in 2017 it was shut for in excess of a week for "maintenance".

So it won't be just a matter of getting a couple of tankers and trucking down the road.

The alternative, which DS appears to be going for is taking it to the appropriately named Djeno export terminal operated by Total.

This is around 40km distance to the south of Pointe Noire, and so would have to be trucked through the city. I think this has a capacity around 300,000bpd, so no initial problems there, although Congo is hoping to produce more than that in future years.

Ideally we would need to link into the pipeline system at Pointe Indienne, around 10km south of Tilapia, but then again there are capacity constraints there, particularly if one is talking 5,000bpd+ within a year or two.

Congo's new Russian friends are talking about building new pipelines, so our problems may be solved as they arise, however the investments required to get Tilapia producing at its theoretical capacity will be very significant.

And that is before we even talk about the gas, which can be no longer flared on new projects.

But I'm quite sure DS will have been thinking about such for a while now.

JV partner definitely required at some stage.

Good to see it quiet.

Quiet is good.
Matunde
Posts: 28
Opinion:No Opinion
Price:6.85
RE: AAOG
Today 14:16
Yeah amazing, but still flopped SP ????? Get a grip!!!!
mick2020
Posts: 1,200
Opinion:No Opinion
Price:6.85
RE: AAOG
Today 14:01
Hmm... amazing indeed.

Well, thanks for replying Tiptop,
Has the company provided more information about the drilling ops in 103, apart from what was mentioned in the RNS’es? I think the information is VERY sketchy so far.... To me it looks as if the company simply drilled the 12 1/4” hole to TD without setting a casing (or intermediate liner) between the Mengo and Djeno. This will complicate remediation I suspect.... especially with potentially heavy cross flow from the Djeno into the Mengo.

Perhaps not such an obvious opportunity afterall....
Morningsun
Posts: 868
Opinion:No Opinion
Price:6.85
RE: Majors Interest
Today 13:39
Nice post Tiburn. Thanks.

However, they are wrong about the size of the storage capacity. With only one day worth of storage you put unnecessary risk on the supply chain. You will always put in a minimum of the maximum normal to be expected business interruption, which is usually two days.

In the two days you can still produce from your field while you can fix whatever you have to fix. Even when you use pipelines. IN fact, I would put in two 1,000 cbm tanks to make sure that you have max flexibility. You don't want to have to stop producing, unless the refinery is down for a longer term.

MS
Sardypaul
Posts: 2,616
Premium Chat Member
Opinion:No Opinion
Price:6.85
RE: Weirdly Positive
Today 13:21
Woody to be frank I think most of us would like to change sentiment here regardless of intentions!
gmcc
Posts: 3,669
Opinion:No Opinion
Price:6.85
RE: Majors Interest
Today 12:51
Hi Tilburn Thanks for sharing finnCap Ltd (Nominated Adviser and Broker) note :

Good confirmation that TLP-103 can indeed be producing at very little extra cost "The Tilapia field benefits from having extensive surface infrastructure, which is underutilised and would only require limited capex, such as an additional 5,000 bbl storage tank estimated at $300k, in order to meet AAOG’s forecast production requirements."




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