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I predict they will lose the license and it will be gifted to an SNPC favorite., it's how it works down there.
Codey sorry to say there is our conversation last night. We have been shafted whatever way we look at it. I cannot tell you if we will be sold off, absorbed or if we will make it to production. Perhaps BB Comments might be helpful. Horrid day
Yes that’s true , but do company’s always to what they are supposed to do ?
Market sensitive news has to be released asap...therfore if bad news this should of been RNS
Dutch
I think the company should know by now when we are likely to get a drill after all they did say they would know by the 30th November , possibly they do know and do not want to give us bad news !
As to ATOG I think this is nothing to do with us and is just two guys lining their own pockets !
As to me I am fully invested here and remain so until I find out what is at the bottom of the hole !
Very limited, BC imho.
If I was worried that was going to be the case, even I would have been out of here by now. May I make a suggestion? - instead of applying energy towards other frustrated shareholders, why don't you direct your perfectly valid questions to the bod?'
I did last Friday, and got a response within 12mins - let me know if you want email addresses?
GLA
Whats the odds of a Dear John after hours RNS tonight!
"Theres nothing stopping the Congolese government awarding the new licence to a super major with deep pockets to bring the Djeno into production through multiple wells."
Barking, I am not sure that is the case? I admit to not being up to speed here but do AAOG not have a licence over the block and are there not defined terms for extension within the legislation as well as international arbitration if the Gov tried to pull a fast one? A development licence is again a different beast but much the same applies post discovery within most gov legislation.
PSA negotiations in Africa always seem to be a ball breaker these days.
They should diversify into selling chocolate fireguards at this time of year.
It maybe a class asset but your missing the point. We don't have a licence after July and we still don't have a rig contract. Both these fairly important facts were supposed to be finalised by now. Theres nothing stopping the Congolese government awarding the new licence to a super major with deep pockets to bring the Djeno into production through multiple wells.
The licence PSA meeting was October and the rig availability date was supposed to be notified 30th November. Is it any wonder that the SP is at this level as lack of trust and uncertainty are in control.
What on earth is JB thinking missing so many deadlines and leaving shareholders in the dark naturally fearing the worst.
Barking, Tilpapia is a class asset and the government of Congo want to develop it as much as us. It will happen imvho but we are at the mercy of ENI when the rig arrives. The site has been prepped for the rig and we will be ready to go :0).
However as I've stated before it's a 1 dimensional asset which can only run at one pace so we require diversity in our asset base from an asset like Tunisia and/or other asset .
I believe companies are obligated to announce to the market news which will affect the SP. If they were told one way or another it would have been released as an RNS. If were following the rules...
So are AAOG looking for assets in Tunisa ask the whole Congo plan has been scuppered. Unable to agree terms on the licence and the partners have stopped paying. Now no news with the rig suggests yet another problem.
Is AAOG going to just become ATOG and everything is lost so far.
Doesn’t look like we have a drill , the company would have known by 30th November , and if it was good news would have let us know by now !