Member Info for BarkingCrazy

So waiting for CPR before any forward plans being made. No mention of fracking equipment status which may not be used now anyway. No mention of License which IMO will be months away. This is going to drag on and on blimey why don't they get on with water injection into 102 whilst waiting, at least then we stand a chance of getting 400 bls per day.

And how do you propose they remove the 20ft cement cap, send a ferret down the whole to dig it out. I think you may need a rig with a donging great drill bit on it, which they don't have on site right now.

Someone tell the SP will they. What will it take to get this moving, we've had plenty of success in Cali and the oil price is above $74, come on this should be over a penny at least by now.

With Brent above $74.50 it seems inconceivable that the SP is still in the 10's. We should be above 13p just on the increase in oil price alone. I really hope this CPR deliveres, and news of a clear plan forward. Get the oil out the groound ASAP!!

The Sp will not break 12p until the license is sorted, Fact. It may do a blip above 12p on release of CPR but I suspect peoples expectations maybe slightly disappointed by this long awaited document and it will settle again where it is now.
It doesn't matter about the trolls, rampers or just plain investors despite the thousands of posts put up by all and sundry the SP still sits in this tight range of 10 - 12p.
The oil in the ground, the CPR and AAOG are nothing without the license and I suspect it going to be some months before its sorted.
To finish I think it will and I think probably this time next year we may be in a better place.

With out a doubt AAOG have a the potential to become a very successful company with what they have on their acreage. 103C had it's problems and the rig unfortunately let us down preventing full penetration in the lower Djeno Sands. This latest development of oil seepage from the 12m of upper Djeno has in a sense become a distraction, will they now produce from Djeno from 103C or stick to plan A and only produce from R1 R2 and Mengo.

If the former is chosen then you can forget about any income until suitable rig found and I suspect it maybe not until late this year or maybe even next. In the meantime no meaningful income, maybe some more money owed from SNPC but most on here want a bigger % so those payments may not be fully made.

Money will need to be found just to secure the rig on contract let alone the cost of side track and then of course 104. I still think they should stick to fracking and producing from R zones and Mengo which is fully funded and will provide income from a much sooner time, probably talking about June now.

Seftons Podcast failed to provide confidence of progress anytime soon. I suspect the CPR will be first but am not expecting fireworks with this as if a draft is doing the rounds you can bet if it was blow the doors of good someone would know about it and the SP would be moving up. I suspect it will leave us hanging with OK figures and conclusions open to interpretation. Sefton mentions at some point that the Congo government don't normally renew a licence with longer than 6 months to run. I remember this was bought up over a year ago so this has always been the case so why have we been expecting it for so long. I know he said they would probably make an exception in this case but in reality it was never going to be issued until a forward plan was known, and at this moment I'm not sure we are sure what it is. Sefton also stated that he expected it to be a nightmare when first drafted so we can expect this not to be resolved for quite sometime. In the meantime AAOG will not progress until licence sorted, why would you.
I remain a holder but suspect we are in for a long summer and don't expect too much anytime soon.
Have a great Easter all.

Tiptop you wrote : Ive spoken to both JB and DS very recently and they are both aware of the need for info regards forward looking plans. They want the info to be correct before releasing !!!!

I would hope that was the case but my question was directed to you so here you go again

If they decide to side track 103C to get oil from Djeno how long do expect to wait for suitable rig and how do we pay for it.

Quick question Tiptop. If they decide to side track 103C to get oil from Djeno how long do expect to wait for suitable rig and how do we pay for it.

So which comes first CPR or License.
Without the new Licence it doesn't matter how much oil the CPR states as we wouldn't be able to get it out without extension.
The licence is however being held back in my view until the full results of the CPR are known so they know what they are dealing with.
SNCP really have had it easy, if 103 had been a flop then they would have just walked away and never paid a penny. As it is AAOG shareholders have stumped up several millions in a couple of fundraisers to get to this point. SNCP are still struggling to pay for their share of past expenses let along funds required for future work.
The only answer is for AAOG to get a bigger slice but the licence extension is a trump card that the government have which may well curtail as much % as we might hope for.
We really in a bit of a quandary at the moment with a forward plan still to be decided upon and decisions difficult to make without the licence and terms settled first.
To Frack or try Djeno production from 103C, one can only hope the engineers come up with the correct answer but with the equipment to frack still in Gabon and a rig need to drill 104 or sidetrack 103c then you can see with all the rest in the air why the SP is in limbo and time just slips by.

Well I suppose we will all know soon enough. As each day goes by and no mention of the fracking equipment arriving it does make you think are they considering other options, after all the fracking kit was due early April with a view to get 103C into production by end April.

Skittish I agree with you but I was responding to Tiptops post which suggested flow Djeno oil from 103C. I say again I don't think that would be as simple as Tiptop thinks.

Don't think it's as simple as that. They would need another rig to do this which will probably involve many months delay. in the mean time they won't have enough cash whether SNCP pay up or not. Folk on here have been banging on about cash flow from 103C from R1/ R2 and Mengo by end of April for ages and getting thumps up votes just because they believe.
Your senario may or may not be possible as I'm not sure how stable the well is at the Djeno layer. They commented on slow progress during drilling due to pressures and we know the rig was a pile of crock.
The last thing we want to do is compromise this well all together but if it's decided to do as you say then its defo several months away while they source a rig.
One thing seems sure, which ever they decide theres no way 103C is going to be producing in April.

Rose would be a good target for RBD to get involved with. They are short of cash but have huge resources of oil. Fits RBD's model and its easy onshore drilling in UTAH.

It does seem strange that the terms of the new licence have taken so long to sort out. I had always believed that they were waiting for the CPR so that they had the latest up to date figures and data, and this may still be the case.
When we go through these periods of news voids it's often unnerving and you can't help imagining theres a problem.
I am encouraged that we have at least had confirmation of one payment which shows intent however if the license proves a problem then were all screwed.
Would be a great relief David if a nice positive update could boost flagging confidence.

Barking the price has gone up and you haven’t posted? Why? SL

Because other folk have been putting intelligent posts up which don't piss me off like you do. Now your back I'll start.

p.s Happy with the reversal today!

Blimey some sensible reasoned posts, thanks guys. Thats what this BB should be all about not ramptastic nonsense.

Paid troll , LOL. Good theory but sadly wrong.

I'll tell you what i think the reason is.
We are now 9th of April. CPR first promised early March.
Fracking equipment due early April to get 103C into production late April.
Well I think were going to get a change of plan RNS which is going to require a new rig and so 103 will not be in production for sometime. I maybe wrong but the silence from the company makes me think things have changed and the oil coming to surface from the Djeno is the reason.

Silverlight it's a reasonable question with 1 mill sells v 70 k buys. its far more balanced than the constant ramping you do.
One of your absolutely best one liners "Often dip prior to news also. "
Yep but the news maybe not what you want.

You can guarantee if the buys v sells were the opposite way round you would be banging on about news imminent, shes going to blow etc etc.

Now try and come up with a balanced informative reason why you think theres is so much selling going on.

Why so much selling, seems pretty constant this morning.

Interesting trades today, many buys published as sells and spread closed up for a while. I have a hunch we maybe close to a bit of news.