RE: SNPC $ - Excellent Sign19 Sep 2019 11:11
Payment welcome, if not late and less than the last one. I have to agree that unless we get a higher percentage how on earth are SNPC going to pay their share of the sidetrack, upgrade of topside and all the other ancillary costs that accrue on a daily basis.
They really are in a win/ win position all the risk is taken by AAOG and they only pay if things are a success and then very late causing AAOG to dilute each time works need to be carried out. If the costs had been split as per % and paid upfront then there would not have needed to be so many disastrous fund raises.
The real news we need, and soon, is the rig booked. It worries me that the rig owners who ever they be are reluctant to hire to AAOG whilst the tacky claim for compensation is pending. We were told drilling would be this year, well is October in a few days which means it needs to be booked v soon.