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Lets hope for an RNS and some progress in the coming days. We are hoping to drill in November so all sorts of organisation should be taking place.
Patience!!!.....patience!!!.....I have a lifetime degree in patience and I'm the most relaxed investor in the world. I have no problems with waiting for my investment to come good but I dont want my company sitting on news when it would help build shareholder confidence knowing important milestones have been reached. This stems from the companies very lacklustre approach to report monies arriving in our bank from SNPC. These are large amounts of money and should be acknowledged straight away, likewise the successful plugging of the well.
We need to keep news flowing when its available!!!
No, I dont want RNS for the sake of an RNS, just info when its available.
I would agree - we do need a little patience.
Nearly everybody here is sitting on significant losses, and it is very frustrating - expecting news every single day, and it doesn't come.
But this is the oil business, in Africa, and things don't always go like clockwork.
I had thought we would have had some news around now, but maybe things are taking a little longer.
I am sure management are working hard every single day to resolve whatever issues they are dealing with, but good news will come and the wait will have been worth it.
Fundamentals are little different to what they were earlier in the year - if anything our bit of Congo looks to be more exciting than ever, certainly more exciting than when I first invested here initially.
Of course, continual dripping of shares into the market at the rate of 20% of the previous days volume is bound to depress the price in the absence of news. But news will come.
Today was an excellent day for satellite photography along the Congo coast - very clear with no sea mist - quite rare at the moment. Unfortunately the satellite missed Tilapia by a few km. Still there is always tomorrow....
It is only three weeks or thereabouts since the half year report; do you really want the BOD to issue an RNS that says, words to the effect of, "we are issuing an RNS to let you all know that absolutely nothing material has happened since the last RNS only three weeks ago...." ?
What we are experiencing here pales by comparison to the Aminex experience. Having somebody contracted to do a job and getting them on the ground doing it are two totally different concepts TT - as you well know.
It will come - just a bit of patience required methinks.
If they need some help with the RNS.....something like ......AAOG is happy to announce that the 103c well has been successfully and safely plugged using wireline technology. This has been an important step and now allows us to go ahead and book a rig ready for the much anticipated re-entry of the well to explore the deeper Djeno and hopefully move into production as soon possible......
On a separate note we'd also like to announce that Mr TIPTOP has now been employed to write all our future RNS releases so we can give this company the PR it deserves and drive our SP towards a sensible valuation for a business holding such exciting acreage....
Just a thought ;0)
Hey Crusty, great to hear from you on the AAOG BB. My point is if the AAOG BOD are not prepared to answer individual shareholder questions then they should damn well make sure that regular updates are provided especially when it is something important like plugging our well ready for the next stage of re-entry. We were told over 4 weeks ago (11th Sept) that the wireline company had been contracted then this " As we reported earlier this month, we have contracted Wire Group to supply and install an isolation plug" from the half year report 27 Sept.......its now 16th Oct!!!
If shareholders feel they have to be asking constant questions then enough information has not been provided in the RNS releases imho.....These are not supposed to be State Secrets and the shareholders have the right to be kept properly informed. Im not asking for minute by minute reports just any progress or landmarks like money being paid to us or plugging our well.
My issue is our market cap is only £10m now which is crazy for a company who has proven oil flows from the Djeno while drilling from an onshore pad, plus, that has acreage in the middle of the most exciting offshore Congo exploration play of the moment. Too many grey areas for shorters to exploit is one of the main reasons for the drop imho. We must be coming onto some big buyers radars now as this is a giveaway price for such assets !!!
Apologies for tardy reply :-(
I have sent him an email reply with the contempt his reply deserves. Probably ignore me now. However on the lines of " we would not need to email if we were to receive accurate RNS that were factual with results rather than heresay". Which todate have not materialized.
Not the first time that we have experienced a similar news "blackout" TipTop and as Barking has suggested in that previous experience no news was just as likely to be indicative of zero activity as it was of "big things going on in the back ground" or similar....
How confident can we be that there has been any material progress on any of the below?
Has our well finished being plugged????, that was 4 weeks ago, has SNPC paid us any more money????, what's happened to the SMP court case????, have we hired a rig ??? Or are we still looking???
The answer may just well be NO!
As everyone knows I'm a huge advocate of this company and its potential but regular and timely RNS newsfeeds are essential to the success of this business. It just allows the market to see that the management are interested in the shareholders and care about progress.
News on SNPC payments has been historically slow. This info is not supposed to be top secret we should be notified by RNS as soon as that money hits the bank or as soon as our well has been successfully plugged, not just at the next quarterly update!!!!!!
Barking has our well been successfully plugged??? This is absolutely of major importance to our company. It was announced the wireline plugging had begun but not that its was completed or had issues. This is a very important and key step in the progress towards re-entry. We should have been notified as soon as this had been completed!!!!!
If we are not being told if such important steps then large voids in the newsflow can only allow rumours to creep in and our SP to be manipulated.
Well that policy would be great if they were actually keeping shareholders informed by RNS. If we are not being kept informed of such important things like the successful plugging of our well then you've got to question if its allowing our SP to be openly manipulated. I think everyone should email and text to let them know that while professionalism is all good its surely a legal requirement to keep shareholders informed of important occasions like the plugging of our well, especially when they felt it necessary to announce this process and begun in an RNS. Regular updates by RNS allows the market sentiment to build as we progress towars re-entry, even if it's just a cursory update on progress across the project/business
They are not going to reply cos they have nothing to report.
Same reply to all it seems
Dear Mr *****
Thank you for your email and I apologise for the delay in replying. We have decided to adopt a more organised and inclusive approach to shareholder communication than we have in the past. We study carefully each email that we receive and are grateful to you for taking the trouble to write. We will no longer provide individual responses to correspondence from shareholders but rather notify the market generally when we have news to provide. We believe that it is appropriate that all shareholders and interested parties should receive the same information at the same time.
Kind regards
Very informative,not