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TipTop could you make that 20p on gmcc’s return as my car has finally died and had to be replaced and Mrs Mouse just booked a cruse for our 40th wedding anniversary.
Gmcc, I will take "unlikely", if everyone thought that JB was just about to reveal a big deal our SP would be much higher, that's doesn't mean it wont happen. The company brief was always to expand across africa purchasing distressed assets and I know that's JBs goal too. Africa is hunting ground for our Boss man!!
Have a great time in Oz, we will make sure SP is 5p plus on your return :0)
gmcc, have a safe trip and we will look after your investment (do you trust us ?)
Yes no denying AAOG management team not exactly improved market cap value that is evident for all to see . Currently my paper loss 50.42%
Some talk that recent AAOG RNS info is just subterfuge and ambiguous , all part of a magic plan , sorry seems unlikely scenario TT in my view that ( JB AAOG ) hold all the cards .
However still remain very positive about eventual outcomes , don’t need investment returns anytime soon , so will wait & see what transpires , anyway off to Australia for 4 weeks so have fun everyone & behave yourselves be back for Xmas ,
JB has spent his career making astute business deals, dont think he will have lost that gift overnight. However, I bet it's been harder from a standing start !!!!!
Morning Crusty, unfortunately he had DS sorting the placements, that's where the damage occurred. Those placements were toxic and more inside line than Lewis Hamilton :-(
Calxulated, calculated....? You mean that JB has calculated an 80% fall in the share price in 9 months?
Best he stops calculating and tries chaos theory ;0)
Punt..punt...we dont want to hear words like that being used ;0)
JB is a very calculated man, Im sure everything he does will be balanced and considered. I'm looking forward to the next move.
I do however understand that these processes take time and the market does not appreciate that but I'm sure it's going to be worth waiting for !!
Moment = comment
RE read your moment truth ,obviously got the wrong end of the stick.
All makes sense and agree
If I remember the collective noun is a bridge.
The opposite Sardy - now that rig agreement signed, expect licence terms soon.
I see your mate is back.
Truth does that mean you are notexpecting good news on the license, sorry if I am being dense
Hey all, missed the fun for a few days but getting up to speed fast.
So firstly, I completely agree Skittish, Its been made very very clear that both the rig and RBL while they are binding are not mandatory (usually you'd want to advertise how tight these agreements were). So why would we want to do this ?? ....... Well lets say that New Age had been showing interest about buying our asset and DD had been time consuming over the last few months, only for New Age to then go into talks of its own to be bought out. We know that the rumour mill is saying CNOOC /Hopu are planning on taking over New Age which could be 3-6 months away. JB would then have the prospect of nothing else happening regards 103c and the possibility of CNOOC not being interested anyway further down the line. So he sets up the drill to go ahead with the added caveat we can back out of both agreements if on offer emerges or situation changes. Not only this but by having a rig in place and funding to move the project forward its a show of strength and hopefully avoids being low balled by a fat cat multinational trying to strong arm us into a low price. It appears JB wants to keep our options fluid otherwise why else take on these sort of contracts and also it explains why JB has taken so long to book a rig which should have been done a good while ago. Clearly government legislation could have slowed down our progress regards drilling but why keep these agreements so clearly fluid.
My other point was regards the Tunisian assets. For me this delay in 103c or possible sale proves why we require the diversity of further assets. Those assets could be purchased and funded through a separate company ring fencing any dilution or risk from AAOG. If they were already producing assets like Tunisia, which could be easily expanded, then a loan to fund the purchase and an RBL could be used to grow the project going forward creating organic growth with the upside potential of later exploration. We know ATOG exists and I still believe this deal could well come to fruition . A new drilling engineer has been employed by AAOG and his job description clearly states "Mark now uses his international oilfield experience and knowledge to support Anglo African Oil & Gas's growing portfolio of operations in Africa."
https://uk.linkedin.com/in/mark-v-50450a44
We also know Belgacem Gaceur used to for Medco as a material coordinator but has now been working for ATOG (Anglo Tunisian oil and gas ) for 3 months doing the same role !!!
https://tn.linkedin.com/in/belgacem-gaceur-3b59b0107
Just some thoughts for the cooking pot but only the trolls will think nothing is happening behind the scenes imho. Todays news was not the big news IMHO !!!!!
Interesting RNS today.
As tends to be the pattern these days, slightly ambiguous wording.
"pleased to announce that it has entered into a rig option agreement (the "Rig Agreement") "
and
"The Rig Agreement gives AAOG the right to contract the rig for TLP-103C-ST and a further four wells at our call."
So they are committed, but for us it is an option, a right to contract, "at our call" - and I'd suggest that applies to the entire contract and not just the further four wells.
So we are not, as yet, committed.
I'd suggest that this is may be the fall back option, referred to in the half year report of 27th September 2019, the "scouting for other units" option.
Shareholders needed something - and this is it - with a final date for drilling Q2 2020.
But if something better comes along in the meantime - then it can be junked.
I suspect this, and the $25M financing deal (no definite commitment there either) are all part of position taking - saying we can do this on our own, if need be. Quite who we are advertising this to I'm not sure.
So this, I'd say is the contingency option, hence a possible delay of up to six months.
Question is - what better option is going to turn up in the meantime?
Must unlike you to leave a cryptic one like that truth anything you can add
Can't take too much more" Looking Good," SP is down 7.9%.
Wow what makes you say that?
1.1 million bought in one go
Like traders moving out investors moving in! All good here!!!