London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Because there is a lot of oil down there and a cheep side track drill will get it out. The share price had deliberately been crashed add in a few red herrings,lots of sells and no buys.....someone unknown to us is going to get a bargain.
Maybe we are not as broke as the board say we are. The shares crashed 75% in the two days after the "no money" RNS. They've never recovered.
Thus allowing Forum to pick up 24% of the company for barely £400K. It would have cost them around £2M+ a few weeks earlier.
Who exactly is paying for the activity at Tilapia? The deal isn't yet approved and there is no certainty that it will be - they can't even get a £250K loan sorted out.
Why are Forum/Zenith/AM-Align/DS all manoeuvering about over what should be just almost worthless scraps?
Forum only need to arrive in Congo with bona fides and introductions to move to the next stage.
Tilapia was just producing 50bopd for years before AAOG drilled and successfully found oil in Mengo, Rzones and Djeno - 56m of play with one drill in all targets, Geo model accurate, Middle Djeno and Vanji CoS substantial increase - everything Tiptop posted on the asset potential and geology was accurate.
This last year has been about transferring ownership of that valuable asset, to develop in due course by another with the focus and finance to really bring this to production.
If the disposal had been to an established producer in Africa such as New Age, then fair one, Minister would have been more than happy to approve the disposal and rapidly - knowing that his prime goal to enhance production was in safe hands.
But Zenith? there is no way they are suitable to develop this new asset - the licence is far more valuable than before that drill - way beyond the ability of an amateur operation such as Zenith to own and operate - their proven failure in 3 years demonstrates this ably.
These are just objective facts the Ministers department are aware of.
New Age exploration surrounding Tilapia in Marine III reacting to Tilapai find? Chinese activity on land areas surrounding then buy out New Age Congo assets to take all , AAOG in the middle of all this activity, soon to have board approval by the mysterious Forum who have money enough to drill, pay for licence, without SNPC repayment and the ability to produce rapidly at their own steam, not reliant on loans, bonds, debt repayment and a hope and a prayer.
Approve the disposal to Zenith or wait for Forum to show their hand? What would you do if you were the Minister?
Forum obviously intend to become more, much more.
Forum only need to arrive n Congo wit