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Any idea what's going on with Sarawak?
Where has all the money gone ?
So much has been spent on tilapia, yet they have a shoddy drill completed with a very leaky plug..
Way way over budget in the end based on the ipo and more recent capital raises all ploughed into this..
Yet.. they are receiving the bulk of snpc money and still they have potential going concern issues...
Where has all the money gone ??
Is it going to the locals who then backhand it back to the lowly paid aaogers ??
The question must be asked.
I thought it was stated earlier this year, that cash levels were good enough to last until end of june..
If this is true, then there is plenty of time for some successful admin and dealmaking news to still come out before any potential cap raise...
If they are good enough to get a Service Provider Agreement to finance all development work, contingent maybe on one appraisal well having to succeed beforehand, then this could really go gangbusters...
It all depends on how good and how acceptable the existing dataset really is..
Present moment in time.. cannot see reason why the market cap cant easìly get to 30 to 35mill area... so 8 to 10p zone...
To go beyond, would need some completed work like cpr and feasibility studues etc... but for now 30 to 35mill quid wouldnt be over nor under valued, based on this gas asset and the cash levels...
Yeah.. they may or probably will raise something any day now..
Just hope they do it asap and get it out of the way...
Cos even if they double shares on issue by raising 2.5bill shares at 0.1p for 2.5mill quid.. thatd leave 5bill shares on issue, and enough cash for operations for another 6 months.. during which they can reduce their 40% to about 25% for freecarry on first appraisal, with all else being covered by other project finance, meaning at speculative 25% of minimum 6k bopd 1st drill, would be like 6kbopd * 365 * 25buck profit (?) by 25% is about 10 to 11mill quid annual profit.. on one drill at minimum flow target.. at lowish 5pe thats 50mill quid worth..
Into potential 5bill shares on issue, thats 1p...
Which after 4 drills at closer to higher target range of 10kbopd, might be closer to 7p or so...
Well worth taking a punt at these current levels...
Yeah.. so currently market cap at cash levels for end of 2019 ? based on committments announced to market.
Yet Anchoi worth something.. maybe another 10 to 20 mill quid on the market cap in relatively short time ?
Looking at daily charts, 5p looks like a 200 DMA target short term, then that massive gap down from mid7p area looks like the next target..
It wouldnt surprise me if both were hit on some spikeup over the course of the next 1 or so..
A 25 to 35mill quid market cap would be 2 to 3 times current sp level.. it wouldnt be overpriced at those levels... considering current projected end2019 cash levels, Anchoi project advancement, and possibly at least one farmout by end of the yr on any one of tye other 3 high risk high prospective resource projects..
So oil prices at 100buck during time of previous relinquishment..
Question 1? Was 307Bcf deemed to be "piddly" to repsol and dana ?
Possibly.. would they have had other larger priorities at the time ?
Question 2? What was the morrocan gas price at the time (2012)?
We already know the cost regime was quite considerable back in those days.. but the relevant gas price ?
Its a shame the derampers state their case on data which doesnt actually appear to be absolutely directly relevant...
So essar baloney last yr was due to essar having to stump up the bond moneys.. they were skint so then tried to hack into shorecan.. thats my interp after seeing the video..
Once the bond is finalised in coming weeks, then all will roll out and fall into place.. 1st bond, then rig, then big finance deal closed...
As with EVERYTHING, would expect it slipping into may..
I doubt they want to start producing mengo so that snpc can payback a lot quicker leaving current % share as is..
The longer it takes to start mengo production, the more the snpc would have to give from current cash they have, so more incentive to convert their outstanding debt into giving aaog a higher % of project :-)
Exceptional RNS for a somewhat no news RNS :-)
Haha..
Great excuse for delay of cpr :-)
But will snpc be able to fund ongoing committments ?
Possibly thru mengo r2 cashflow, however thatll accumulate slowly over the shortterm, so hopefully aaog manages to up some % in the project later in the future :-))
I dont think it matters who wins.. cos copl seems to be in with both or either or..
Besides.. the two candidates were on the same side not too long ago (if my reading of some news articles is correct), so quite possibly a common modernday local deep state type scenario occurs, where either of tye two candidates is in fact the best option for the "business" world..