Member Info for BarkingCrazy

Bit of a chicken and egg puzzle this. Probably not going to get terms of new license agreed until contents of CPR are known. However, without new extended license CPR will not state full resources.
So will they be able to hold results of CPR, negotiate license and then announce both at same time with CPR revised to take in account of new licence.
Going to be a little while yet I think.

Thats a shame, not going to be able to monetise this asset now as no one would buy it without further drilling and testing which i can't see happening. The extra £750K spent to increase share has turned out to be a waste of money.
Desperately need a good result in Cali now as pressure is on.

Perhaps one of Seftons e -mail chums could ask him as this wait is going to be very expensive if we are paying.

In the mean time whilst we wait for fracking equipment in a months time we still have to pay for the rig we have which is probably more than the last payment received from our partners. At what point can this rig be de mobbed.

Any idea how much the rig is currently costing on a day rate whilst we wait till April for the fracking equipment .

I think CF must be out by now, but we may well have another seller. Just wish they would hurry up so we can get to a fair value.

Can't help but thinking somethings brewing with SP action over last couple of weeks and more positive trades this morning. Just can't bring myself to get too excited though as been kicked in the gonads so many times with this share.

So there you have it, no mention of early March anymore. To those of you that kept banging on and counting down to March 1st it now appears DS is saying hoping to have it in March.
I'm very pro this company and have been invested for well over a year but one thing it's taught me is to forget initial forecast timelines and always expect delays.
The license has supposedly been coming for over a year and i suspect they may still wait for CPR first before finalising terms.
So as I've said before mid to late March for CPR is my opinion. I also think you should not expect 103C to come online till at least June and 104 not drilled till next year. Far better to under promise and over deliver as a pleasant surprise than the other way round.

Early March 1 -10
Mid March 11 - 20
Late March 21 - 31

Still think it will be Mid to Late for CPR. 25th my guess.

They have been giving away too much in dividends over previous years and have now realised this. It's a good move but market hates not getting a % rise everytime.

It won't be early March, mid to late is more likely.

Don't forget to go on the toboggans, great fun

Totally Agree Duc996 / pawnsacrifice, lets get this project sorted first

OK bonker99, there will be no funds left in the kitty once 103C is bought into production, including the recent 5mill raised. Sefton says as much "Cash is tight, but we are husbanding it carefully and the funds from SNPC certainly helps"
Now with regards the 1500bopd and SNPC monies you can only use an either or scenario, so it's either 1500bopd until monies owed are paid off or 840 bopd + 9.4 million $ cash from SNPC.
As 103C has cost over 15million you can see, fluffy or not, the company are going to be well short of funds.
An acquisition would need a placing but 104 maybe funded via some form of reserves based loan which of course would be better. You also need to take into account topside upgrades, which if includes pipeline is going to be at least 5-8 million and finally mob costs on another rig which depends on current location.
The future is bright but it's going to take alot more cash first. It should be well worth it in the end though.

"The CPR process is well underway and we should be able to get this out next month"

Sounds like CPR won't be out until mid March at the earliest.

"I can confirm we are not currently planning a placing for Tilapia"

So funding will be required for any acquisition and for 104. Just hope the SP is quite a bit further north when this happens. Revenues from 103C won't be enough to cover 104 judging by how many millions it's taken to complete 103C. Also having to bring in a new rig will involve hefty mob costs.

If SNPC are going to cough up all moneies owed then the much quoted 1500bopd will be 840bopd net to AAOG so you should use those figures.

OK then lets have more great news days then and see the SP fall each time.
What I'm trying to prove is that todays RNS was NOT good news. There are so many folk on this board that just can't take balanced alternative points of view. We have along way to go with many ups and downs but in all probability will succeed in the end. But in the mean time its not all Jolly Hockeys going great, rig problems, overspends, and failure to produce from Djeno in 103C are setbacks so get real and accept reality.

Vote if you prefer money to be repaid and keep percentage share as is now

Vote for greater percentage rather than money owed

So today has been a down day despite the enthusiasm of the RNS earlier this morning. I posted my concerns about the payments against gaining a greater percentage but many criticised as being negative.

So just for reference and to get a feel for sentiment the next two post are to see who would be more in favour of receiving the monies owed or alternatively a bigger percentage. Recommend the post accordingly.