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Well bishop, we can say with total confidence that any extreme happiness you feel has nothing to do with the performance of your investment in AAOG.
Morning TT.
Long term is at least 10 years in this business. Yes news before Christmas is on the cards, not so sure about the weekend.
RoJo, I may appear mad as a hatter but that's just extreme happiness due to my health,wealth and life contentment.....not forgetting my wonderful wife of course.... :0)
Tell you what Irish, I wouldn't want to be out of this over the weekend ;0)..... It's a good sign when you start looking longterm, that means we are nearly there!!!
I think we will be getting some very nice news before xmas :0)
Morning Perky.
Yes at the winter biscuits again, it’s ten years now chasing O&G in Africa ( how the time fly’s) some have done well and some have not. However as you know you learn to be patient and try to work on fundamentals,this sector is a long waiting game. Oh how I smile when newcomers post “its next week”etc etc.
I still have a few more years to go before I need to start drawing from my portfolio which with AAOG is a realist time scale.
Yeah, but you're as mad as a hatter bishop.
Mousey, have you have been nibbling at those special winter stored biscuits early again, those dark bits are probably not Cinnamon?
Lanzarote, more like Lanzapote ;)
Spud date required for full take off, be interesting to finally see what they have flowing down that hole.
£1 !!!!......You are insane man !!!
50p ( £200m MC) is much more realistic I'd say ;0)
Tiptop, me ramping? Not a hope I am in hibernation mode.
However when we are at 20p I shall show you what ramping is all about all the way up to £1
The $60m is for the project and we dont know how much we will have of that project yet. So our share would be circa $35m and overheads would just be trucking costs and well head maintenance/security,so minimal onshore costs !!
However, the real value would be in our Tilapia reserves as 300m barrels has been mooted by our BOD !!!
COS should be 75-85% imho, theres always some risk involved with any drill
TT, interesting. So taking those figures........$60m (one year only) applied to 400m shares.........@1.30 usd/gbp = 11.5 pps.
Any ideas what the net value of the $60m would be after ops/ex?
What’s the cos and what rig is it?
Irish mouse, what an absolute ramper you are....all you have to do now is add a long list of positives about AAOG to the end of your post and you'll be smashing that No.1 ramper position.....sheesh ;0)
One small niggle, we have 400m shares in issue this time but still a small amount for the AIM and a minuscule valuation when you consider 1 year of 2500bopd would net the project circa $60m, with minimal overheads and therefore huge profit margins !!!
At last spud our share price was 16p.
This time we know for a fact the oil is down there, we have a rig more than Good enough for the job and our cos is about as high as you can get.
9mill m/c is unbelievable.
Enough of this tedium, back to AAOG.
JB has stated RNS Sep 27th
"A suitable rig and equipment to carry out the operations are currently being sourced. The production plan is ready to be executed as soon as we have a rig on site."
Rig is sourced - rapid start once rig arrives on site.
Wire group must have completed all their pre drill work, so as soon as the rig arrives at Tilapia, they can set up quickly and get going.
It will be confirmed any day from now until Nov 30th next week, contract and details finalised before end Dec 31st if Jan start confirmed.
Estimated timeline assuming rig is available in January, drilling approach doc confirms detail:
http://aaog.com/content/news/news.asp
• Rig is in Congo so can be trucked rapidly - assume by Jan 5th at Tilapia
• Mobilisation for a week - drilling commences by Jan 12th
• Sidetrack timeline for drilling activity was max 30 days estimated
• The sidetrack starts at kick off point of 2200 md to 3000 md target depth - 800m drilling in total
• 30 days for 800m = average 27m per day drilling, (not linear, but a working average assumption)
• The top Djeno was found from 2,396md to 2,411md., so 200m of drilling = After 8 days top Djeno target may be hit and confirmed by AAOG from logging whilst drilling, so this news may be expected on or around Jan 20th
• Feb 12th drill completion and Middle Djeno results within this period and after wireline checks.
• Perforate, flow rate testing and checks, make good - in full production by end February/early March may be possible.