Member Info for BarkingCrazy

Where do we go from here. Plan is to re enter 103C with a rig which one would assume could then go on to drill 104. Not going to do that until licence terms are sorted and a fund raise takes place. Going to find it difficult to get rig due to dispute over payments with SMP so it's a plan but fraught with hurdles.

Tiptop you could have written that report months ago and saved us all the pain and costs.

They won't be getting the rig from SMP unless they sort out their differences. Reckon it's going to be some time before this plan occurs,end of year if were lucky.

And so the daily slide begins. How can a man of DS's position put it's shareholders in such a position, having to watch their investment reduce on a daily basis. There is no excuse, events my not always be within his control but stop making promises you can't keep, so unprofessional.

******** = Richard Cranium

Why should you sell up. The asset is fantastic it's just the figurehead or rather ********* thats ruining things. How on earth could he get this wrong. Stop hoping for a RNS during the day it just isn't going to happen. If one comes after close and its another delay notification then calls for his resignation may well become quite vocal and rightly so.

Did he say, Ha Spike you know me today, tomorrow, who cares, let them PI's squirm who gives a flying F***.

O come on Tiptop DS has made a right mess of communications. Every time line has been missed and when an RNS is issued it contains more questions than answers. Everytime DS appeared on a podcast the SP fell straight after as his answers to questions were so vague and trust just evaporated.
There was one occasion when this didn't happen of course when he acted like an excited child in a candy store stated there was more oil than they could cope with. Well we found out less than a week later why that was as a 60million share placing had been arranged at 10p after DS had ramped the SP up to 17p.

Washers i think you'll find if you make further enquiries that AAOG and SMP are at odds over payments due and claims regarding down time of rig.

Can't see them getting another rig from SMP anytime soon.

I think the problem they have is that the rig used to drill 103C was clearly not up to the job. There were delays due to mechanical problems and also pressures encountered in the lower levels caused an abnormal amount of mud to be pumped down the well.
My guess is that the well bore is not that good and so it has allowed oil to pass the plug due to a poor seal. I think the delay regarding a forward plan may well be trying to decide whether the lower levels of the well in the Djeno are upto being put into production.
Obviously we would all like to see 103C producing from the Djeno but I cant help thinking they would have been better off sticking to plan A and generating some cash flow from the R zones and Mengo ready to drill 104 with a suitable rig that can reach the complete Djeno layer and beyond and be a much more stable producing well.
Remember we were supposed to be producing from 103C by end of April originally.
My fear is trying to produce from the Djeno from 103C may well turn out to be more trouble and therfore expense than its worth.

So we will get the report but looks like production plan is still not decided upon or to put it another way finalised. The wording of this RNS had better be well thought out as it will just come across as yet another delay.

Perhaps Tiptop can contact his buddy DS and put these rumours to him. The post is as follows:

A rumour exists that SMP the drilling contractor is suing AAOG in the Congo and London for unpaid costs yet there has been no RNS to date. Are you aware if there is any truth in this?

LRSenergy a highly rated company refused to sign off on the CPR due to no well test at Djeno. A statement that they are seeking an alternative type of report in a CPI from a rival firm surely is indicative that the company does not have the funds to carry out
the necessary work to undertake a completed CPR?

SLB will not provide fracking until paid. Do they have the funds to pay for this?

As stated earlier Sefton and Berwick have set up Anglo Tunisian Oil and Gas acquired MedCo assets in Tunisia whilst Directors of AAOG. Do you think there is any conflict of interest for shareholders of AAOG?

Is there any truth in the rumour that Sefton and Berwick were in the process of also trying to raise funds to start an O&G investment vehicle to invest in other opportunities at the same time as running AAOG and commencing ATOG. Apparently this was shelved as the due diligence on the individuals showed they were not suitable individuals? A previous fund invested in O&G under Sefton's PE watch was delisted having had a valuation of $100m disappear to zero.

The Chairman has already been economical in the truth at least twice over the last six months to the market. Should this not worry existing remaining shareholders?

I baled out on the three strikes and your out basis at a loss for the second time as I no longer have faith in the board to tell the truth and feel they are out of their depth and backing the firm into a brick wall despite excellent potential geology and prospects at the start. Indeed their initial team had an excellent board of AIM experience and knowledge of the AIM rule book and an engineer with actual drilling experience in the identical region. Yet they were apparently asked to fall on their sword for either reasons of the chairman's potential greed or attempts to cover up his own misjudgements.

Frankly the company's behaviour stinks and the existing board and the Nomad have not covered themselves in glory.

There should be an AIM regulatory investigation as soon as is possible to either shut these rumours up and give it a clean bill of health and a chance of raising the funds to provide the investment required or there should be a new board voted in to restore trust in AAOG.

Rise is due to RNS surely, not any kind of leak of other news.

UJO down 9%, strange considering results due.

P.S Pretty sure theres a large sell in the background which added to the other recent large sells doesn,t inspire confidence

I know folk hate negative (or as i prefer to say factual ) posts on this board, indeed you are instantly labelled a troll. My God i wish I was and had shorted this share back in the double digit days i would have made a far better job than the many thousands of pounds loss my holding is showing at the moment. I can assure you I would be taking the proverbial p*ss out of some of the blinkered posters on here rubbing their noses in the constant drop.
However I make no apology for being incredibly frustrated by events and post to that effect not some fantasy some folk expect with 5000bpd being pumped anytime soon.
Fingers crossed for a good update this week but past experience has left me somewhat sceptical.

The next RNS had better be a good one with a clear way forward. It's the uncertainty and constant push backs in timelines that is killing this share and DS has to take responsibility for that.
The bulls out number the bears by about 10/ 1 on this board and yet the SP drips down day by day.
If we get another RNS containing the words" in due course" then expect carnage.
One of Seftons buddies had better let him know whats expected as it doesn't matter how good an asset we have if we don't get the f**king oil out the ground then its not worth squat to AAOG shareholders and the SP will continue on it's downward track.

It depends what they release. We have only been told a CPI is due, they may not give any production info at this stage. I suspect it will be more kicking the can down the road until everything is sorted.

Well lets hope its better than last weeks as the SP has dropped since.