Member Info for cperkin

Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce that spudding of well TLP-103C ('TLP-103C' or 'the Well') at the Tilapia field in the Republic of the Congo took place yesterday at 7:18 pm (BST).

https://www.investegate.co.uk/anglo-african-o--38-g--aaog-/rns/spud-of-well-tlp-103c/201810090700083513D/

Taking the emotion out of it.

Market cap = £13.5 Million

Cash and liquid asset = £ 8 million

Main asset (Ruvuma) Open market value of $20 million + = £15.5 Million +

Total = £23.5 Million cash and proven asset value V £13.5 Million market cap. Currnent disparity = > £10 million or an SP of around 4p to 5p V current 2.15p

Neil Ritson out and New BOD who own 10% of the company
Producing well remediation =Q4-18
Spud date and licence for CH-1 = Q4 -18

Best of luck

Merci.

Thanks dunder, so in the case of Aminex ordering the rig, then probably a deposit but in the case of the Zubairs probably not?

Does the Operator not ask for some payment up front in a JV situation or would the operator only expect proof of funding and delivery of funding on normal invoicing terms then?

lol NG I bought some today as it happens and anybody that can predict share prices would not be here, they would be so rich they would not need to bother trading an aim share, never mind posting on a bb on a Monday evening.

DYOR or as suggested by some don't bother.

Yes it will be different in terms of share price for each individual and dependent on their expectations and targets.

For me the true definition of success is Monetisation of the primary asset-- Ruvuma, in production at the minimum of 40 million scuffs per day and the $10 to $12 million per year initial earnings equivalent as per the development plan, either with solo still holding the full 25% or selling part after the CH-1 drill results.

Either or both would value the company at multiples of todays current market cap.

Must be due the statement of commerciality for the Portland and the initial flow rates for the Kim?

Whatever you do though, don't mention the strategy, any numbers, upside and costs or any possible positive outcome trade, the next thing you know we might be having a grown up discussion on the possibilities and probabilities of success.

OH NO!

For sure, no idea what % though GL?

Plenty Mr J with almost £0 G&A - no Office, BOD taking shares as salary, most of that raamianing £3 million will be available, along with the £4.5 million or so from the UKOG shares.

AS66 Apache, just as you requested...get ready for more :)

Still you might be right rog if they asked for it upfront, but then that would release the money they owe, so all back to square one.

The issue with that rog is the TPDC owe in payments slightly more than the claim, so it would just nett out.

I think thats the point steve, does this mean they are being asked for the money and the licence and spud date are very close? Thats the only reason they will need any decent amount of money as the KN-1 remediation will only cost $21,000 to solo

Hi Chesh, they sold those on the 2nd October, so we might yet see more sold between the 2nd and the 8th?

I expect they will wait for the Kim initial results and the declaration of commerciality of the Portland before then off loading more?

Anything sold above 1.92 p is profit on top of the 45% profit already realised, so it makes good business sense.

Oh how I like a bit of you know what GL :)

Few million already in the bank and selling some of their liquid asset and only Tanzania spend on the Horizon...seems encouraging to me.

No Frank, they only needed £624,221 to pay the loan in full, which was done with part of the £3.6 million placing money

Looks like they are converting ready for upcoming activity :)

Shares - down to 3.98%

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Should not be long now Fell. Aminex are now one week late on delivering their Farmout circular which is dependent on the Licence extension.

So licence extension news is very much due and that kicks off the Farmout & C-1 Spud date announcement.

GL

Spud incoming, tomorrow?