The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Not going to call you anything Curious just stating that the light caveat you referred to said "the Company may not be able to execute all of its plans as set out in the Annual Report released on 28 June 2019."
which indicates part of the plans may be in jeopardy unless the shares rise.
The fact you choose to claim that automatically means the first part of the plan the djeno doesn't mean you've made the intelligent choice just the one that suits you best to believe.
Call me a ramper if it suits you:it doesn’t make what I have said any less true, or any less significant.
"the Company may not be able to execute all of its plans as set out in the Annual Report released on 28 June 2019."
With respect perhaps you should read the 28th June RNS again Curious. Drilling the Djeno is only the first part of the plan.
Likely they mean they won't be able to prepare for upgrading 101 or the 2nd drill addressing the vandji unless a very good result from the Djeno boosts the sp somewhat to bring in larger payments from this plan.
Whilst AAOG is not perfect, it has answered the charges made against it, been transparent and accountable, communicated clearly and well recently in direct response to PI concerns , secured finance on reasonable terms to enable a drill to be funded - this is moving forward towards production, one blue day at a time.
As posted previously, my view is that it is all linked to the IMF bailout.
In summary
• Congo needed to show IMF they could reform oil industry management, create more production and remove corruption to qualify for the money
• They have satisfied IMF in this regard with Presidential guarantees made, money is now released
• The key is SNPC and how they manage production investment, retain higher PSA % on fields – the bailout allows them some breathing space to do this and not hand over all production cash as soon as it comes in to Govt as they demand it to service massive debt and keep the lights on.
• This in turn means SNPC can fund their share of drill costs up front and so retain higher % share of licences areas, instead of defaulting to free carry and just 15% as has occurred in other fields, selling the family silver just to pay the bills.
• Therefore potentially AAOG could benefit in finance terms on drill funding with SNPC paying their share of drills up front going forward.
• This creates an utterly different programme of well development - it can go much faster.
The PSA should finalise quickly now.
The Production plan will then be released with all agreements in place.