Member Info for BarkingCrazy

Thats a 500,000 rollover. 2 trades same amount within seconds and small difference in price being the fee. if 1 mill shares had been purchased the SP would have moved up.

We have to assume resumption of drilling is at least a week away as the second magneto had not gone off for repair by last Thursday. If we get all costs recovered then it's no big deal, just a niggling delay but ultimately a prudent move to get the magnetos repaired.

A fruitful meeting in Paris today would add some strength to the SP. Maybe a snippet has leaked out or maybe folk are just realising that the delay wasn't as bad as many had imagined in the first place.

Extract from Finncap note

Yesterday, AAOG announced this well had been suspended again, with the well at 660m. There is no mechanical issue with the rig, but for safety reasons two mags in the drilling brake need repair – a critical element from a safety perspective. When they finished drilling the first section of the well they took the opportunity to check all parts for the next section and found the brake to be underperforming, which would be risky for the deeper sections as the weight of the drill pipe increases. One mag is already in Paris being repaired, the other leaves soon. They are being told less than a week for the repairs and then the mags have to be flown back, so all told I’d have thought around a two week delay. It is important that this well is drilled safely and, rightly so, that is management’s priority. There is the recently arranged £5m Convertible Loan Note facility in place, so AAOG has funds. The SMP rig is on a zero rate during the downtime, but AAOG will still need to pay other contractors on site – management is meeting with SMP, the rig provider, on Monday in Paris to seek compensation for these associated costs as a result of this delay.

impressive purchase U2

OK just seen twitter which confirms my thoughts - 1 week to 10 days is not that bad especially if rig contractor takes up costs which is why i believe James has meeting with them on Monday. SP should recover a bit from now as with more facts available folk should consider this as a sensible precautionary measure with no real penalty.
It's a Buy.

Aidan - I think you'll find it's Magnetos not magnets. This type of rig has 2 in the braking systems. Lets just hope spares are easily available.

No need to shout Jonesy. Can see this dipping back into the 6's as day traders bail before close.

Well as i said last night there would be news that would ease stress levels. The news is annoying but in reality not that bad. Would have been nice to get an idea of how long this delay will be but I guess that may have spooked some folk even more.
MM's have had to sell shares first thing for less than they got them for so expect a pull back soon for a short while before moving up again. Expect day to end flat to maybe slightly blue as day traders will take profit along the way.

itsgambling, If I were a gambling man i think I might just put a few bob on some form of statement (tweet or RNS )being made between now and the market opening tomorrow which will reduce stress levels of many on here.

Going to be in the 1p club soon!!

".btw some nice buys just gone through!!!!
See what I mean watching individual trades, works both ways, maybe someone has been seen with oil on their boots!!

Chill

The problem with timelines is that they can be more of a negative than positive. Folk starting getting very twitchy as the expected date arrives paying an unhealthy amount of time watching the SP and even to extremes of every trade. The result is that a perfectly innocent sell (maybe needed money for large bill) can trigger a downward spiral. Folk always seem to assume a seller is in the know and the proverbial phrase leaky ship pops up. Not wanting to lose money others join in and bail and so the whole thing become self fuelling.
Lets all stay calm and perhaps have just a bit more patience.

Good post Richard, I was aware of the seals being changed as had previously mentioned it.

At the risk of being called a deramper I think you'll find that we are not due to enter Mengo until 10th November. It's best not to have expectations ahead of timetable otherwise folk think the delay in news is due to a non existing problem.
Realistically if on schedule the R1/R2 should have now been intersected and so RNS probably end of this week beginning of next and Mengo RNS approx 1 week later.

BP - not nasty just Bitter and totally P****** Off with constant broken promises and false dawns. What really gets my goat is when folk hint that they are "in the know" and tell us to expect good news. Well I'm afraid good news never comes and the BOD really need to produce nothing short of a miracle for me to get anyway near a return on my capital.

Leave it out Skoda Boy you have no more idea than Mystic Meg. Which reminds me what ever happened to Distant voices and his wives visions of riches for us all.

Don't think they have that much cash, nearer half that.

RNS at 18.12 on a Friday, well that speaks volumes you spinless bunch of **********. Hardly an act of a confident BOD proud of their work over the past 12 months. I hope you read this you should be ashamed and no point trying to dress it up with fancy ambiguous phrases that quite frankly mean sweet F.A .

Washers you do make me laugh. I bet mines bigger than yours (share portfolio that is).