The lies of the continual ''loveliness'' background are demonstrated by the continuing decline in the sp.
Although the Ostriches who can't face facts when their own decisions are at fault so blame others.
Awareness of the coming 109 million shares sale spread over 12 months does nothing for the sp, the longer the decline, the harder it will be to push back up towards the 5p mark let alone 7+p
Sales start in a few days.
Such few daily trades make it difficult to sell the numbers needed to raise the monthly requirements so bringing a placing nearer.
We can all see the Sp has fallen from its high of 17p to 4p.The initial fall caused by the discounted fund raise sprang on all by the BOD back in January.
Such a surprise will not happen this time as the BOD by RNS have forewarned of their funding backstop aimed at open mkt and shareholders.
If ...a placing arrives it will be deeply discounted
No doubt there will be an unstainable effort to raise the number of trades
Unlikely though it is -does the lack of news from the BOD indicate a wish for a lower sp? to allow for potential discounted placing which won't appear to be very damaging if the price reaches 2p/3p although the discount will be the same.
because the BOD know any rise from placing price would be lauded as the great comeback by all the Ostriches
Some idea of the lengths AAOG have gone to get it right can be gauged form a look at the large fiscal write downs and write offs in the results.
All it needs is a decent RNS to show the way.
Hoovering up cheap stock?
The idea on any investment is to make a profit.
Back in January TIPTOP advised lots of people to buy in '' lots of people', 'his words, to invest in AAOG,even if not a financial advisor he could be called to account for losses incurred.
He is still trolling the same advice.
I wont advise anyone to buy or sell.
The last news was AAOG had renewed its option to retain the rig at a monthly cost up to half a million dollars a month, A later RNS advised it had a couple rigs under evaluation.?
Regarding the CPR read the RNS and it will be seen why despite lauding the arrival of the CPR they stopped it, basically AAOG did not want to supply the hard data required to complete the CPR.
Meaning no value can be ascribed to the find
SNPC will have the details of the Drill results its part and parcel of licence requirements.
Also their is no clarity that AAOGs local court case was 100% successful, the wording says certain of its sub.,co.'s assets.
Its has taken its case to the PCC start date around Sept., October.
There is no way in the world drilling will take place by the end of Sept.,
Dishonest Trolls have been out in force trying to persuade PIs to ignore the fiscal situation of the company.
The sp is still within its 4.2/4.4p range maxing out at 4.3p+ it need to be closer to the 7.2p mark on the bid
As voiced by all in a general sense a decent RNS will one way or another put a few of the arguments to bed by advising all finance as described or failed and a placing is on the way
The sad efforts of the trolls suggesting news is being held back on the instructions of brokers is untrue.
Any known price sensitive news such as expected cannot be held back.
No financial advisor would advise clients to purchase these shares .
Until the finance is settled with Licence news, rig contract , spud date, and CPR, sp is going nowhere.
Septembers share sale is the one to watch /direct payment or otherwise;if income zero then what is the option? placement
Expect a major RNS before EOM in an attempt to move the sp towards 7p+ on the bid 5.2p is no good.
''All about planning skills''
Skills demonstrating failure to deliver anything at all.
Because of the BODs track record for non delivery, only an RNS stating both payments have been received from SNPC will remove the subjective need for a placing.
There is no way SNPC will relinquish its share of any o/p arrangements, if they did then every other licence holder would want to deal.
It is vital to the BOD plans to announce SNPC payments as received it would add strength to the Sp
By not confirming payment the argument for a placing gathers strength because financiers have good reason to opt out.
DS has now not been welcome on two BODs this year.
Such a poor record indicates calls for his removal may appear.
Previously each payment received from SNPC was RNS'd
Any placing will be poorly received after all the financial hype.
BOD have said via RNS they will have a placing if their income expectations do not work out.
So a contingency plan will be in place and probably RNSd if either or both financiers give their 5 day notice.
In January the last placing carried out at a price of 10pps to raise £6.million,when the sp was 17p and sentiment was high.
4 trading days later the bid was Circa 9p so almost a 50% discount to get the placing away
For a while sp then fluctuated up towards 12p plus but then entered into its downward drift.
Based on the above adding in poor sentiment,any placing will be at a minimum 50% discount probably with warrants basically because the BOD have destroyed their credibility with existing shareholders and the mkt
So if a placing occurs in the next 6 weeks or so it will be around the 2p mark
The SII has plenty of legroom for dilution.
Sp is still adrift sinking lower towards the low 4p and upper 3p mark
Alpha Blue have failed to mention that DS is on the BOD of ICON joined earlier this year unless he has resigned which I doubt.
An ''irritation'' or rather an infestation of Trolls is continuously delivering random non essential information presented as facts designed to induce IPs (Innocent) Investors to part with their fund to join a sinking ship
Since April- ongoing Licence production details yet to be agreed.
No full licence agreement no new production.
Trolls Tiburn TIPTOP and others write to fool existing and induce new investors into a false sense of security saying buy now etc..
Many do not shy away from the truth of events or company past history of complete and total failure to deliver stated IPO targets despite being fully funded, with a successful strike, For some reason they failed to carry forward the drill success.
The reason was not the decision of change of direction, only a completely inept BOD would have passed over the chance of income production from the stated target success whilst funded.
SP is drifting off, despite 2 minor attempts at price rigging (reminded failure)
Unless some real news appears the sp will continue its drift to low 4s early 3s again especially if all the new back ground noise increases and requires further explanation?
Sefton has once again been involved in having to explain the companies actions, for those that are unaware he has done the same with AAOG so far delivered nothing, check out the appalling reading of their last results.
It is not the shortest time DS has been involved with explanations a short while ago he and his side kick joined the BOD of a company only to be kicked out a couple weeks later.
trust rating is non existent .
''Past performance is no indicator of future events.''
In this case it is.
If the investors in ICON had seen the non delivery performance of DS/ BOD in AAOG do you think they would have invested.
If any investors here had thought through events as soon as they saw the sp declining they would have bailed out as some of us did.
Mr Mouse. The rig was repaired inspected and finished its job therefore it can be described as a working rig.
Hostage not a word I would use but I take your point-If that's the case AAOG are risking shareholders funds to break the law and DS+BOD should all resign forthwith. that won't happen which is why AAOG have rehired the rig after the point of disagreement so it has to be paid for. This new payment may come into dispute?
Speculatively has it been considered holding the rig to ''technical ransom'' may well be indicative that the BOD is not confident about its claim and considers leverage a back up?
Sheer stupidity if that is the case .
SMP have adopted a handline for reasons we are not party to.
Not suggesting anything will happen overnight but in view of all news flow expectations including the Rumanian IM-1 results due around first weekend in Sept., a lot will be happening all at once so we have a lot to look forward to in terms of sp action.
Worth looking into the cheap cost of production and the high returns paid by domestic consumers.
As the good results increase(assumed) the time for reward to share holders becomes closer-scrip issue is another way of reward.
AAOG has exercised its retention right over the fully operative rig, therefore a mounting monthly cost from the retention date-otherwise would not be able to retain the rig.
Why retention ? It is outside the original dispute over costs. ----You say problems ''that were caused'' correct.
Yes, it is 100+ million share sales spread over a year.
If memory serves ,option for monthly cash payment assuming no share sales.. No sales from the 100 mill+knocks a hole in monthly sales calculations
.In view of DS-BOD handling of the situation for AAOG, add in ICON fiasco = loss of investor trust.
There are better places for investors to place their risk money.
I added 500,000 my holding at 1.224p showing as a sell ,possible other sells shown at that price are buys.
With permission for capital reduction being sought by the BOD it suggests we are in line for some kind of buy back,holding /exit demerger although not stated .
Further information from the BOD in their next RNS as to exactly what they are going to do is required
A very minor share price manipulation appeared to be attempted between 13.50 and 14.20 yesterday mostly through one dealer.
Did not do much for the sp as it has fallen from its steady 4.5/5.0 range to in reality 4.4/4.6.
The coming monthly sales of over a 100 million shares will do nothing for the sp.
It is a BODs duty to listen to shareholders and address their concerns. So far no news worthy RNS has been received except about normal office procedures. If they can do that then they can explain why they renewed the contract for the existing rig (costing close on a half million $ a month.)whilst seeking another rig.
If it was done as lever in PCC litigation they should say so.