Member Info for Drewky

Docit…

"However how will they at this point fund current ongoing costs to meet their 44% liability prior to production". They can only fund what they can fund and as DS has made the situation clear to them they are having to act or lose some of their % which this morning proves they don't want too. Our preferred situation is to take a higher % so it's win win.

"No mention of intrest on 10 mill". Internal matter that's dependent on the contract and as there is I read somewhere some element of them being allowed to pay back from production it may or may not be allowed for. I assume it is but until settlement agreement is fully reached it is hardly likely we will be told about interest.

"Were we not meant to have received a substantial amount of refund from the breakdown and poor performance of the drill". Not heard anything further on this but if we get a refund it will be equal to a cash injection if funds haven't already been withhold from the contractor so this would not be a drain on our resources.

"Seems too many loose ends that need tightening up". You call them loose ends, I call them work in progress, nothing is ever done at the snap of the fingers.

"Licence i think is dragging on a bit also". Considering we've been given a letter of intent just a week or so after the find, I wouldn't be worrying too much over that. I've just waited for similar government assurances which took 22 months to come.

All looks good here to me, it is very promising and as said before when they stop selling to cover a packet of fags we will start to move on to realistic levels

JH we know that but that is why we are in a win win situation.

Their cash input and intention to put in a short term funding proposal is proof that we have something they want to hang onto. $10m will be a drop in the ocean compared to the 44% they currently have. As DS said a week or two back his feeling is that it will end up be a combination of cash and % that we get. He also stated they would be seeking concrete evidence of future funding so he has it all in hand.

Win, Win. Imo

I'm not even sure it could effect the dev licence CP because the arrangements are governed but the PSA we have agreed too.

In saying that, governments have their own ways and could always try to force a different arrangement, but if they do truly need our gas next year as their own forecasts state, then by the time any new review is complete and it's gone through their parliament umpteen times, I think demand will have well outstripped supply and as GL says, election next year!

Yes and still potentially more if SNPC do not manage to put forward an acceptable proposal.

If you count me sticking over $600k onto the bar tab fund as not news worthy then nah, no news.

I don't feel that's any reason not too. We are already subject to a PSA and the licence we seek besides having been assured would be related if at all to any existing agreement. This seems to be a review of the PSA and as such is for a MPSA a "model" These sort of documents are reviewed regularly by governments around the world. I still have no reason to think we won't complete on time and unless the company says otherwise I'll continue with that view

Anymore complaints Docit? Go for it while you are on a roll

Stalling tactics are a normal part of business negotiation. They want to keep their full % which shows they realise its value! That alone is extremely good news for AAOG. Aa DS indicated they would be scrabbling around trying to raise cash which has put an immediate injection into our coffers. From here it's win win as we either get the full $10 added to production from April which should find 104 or end up as he also predicted with a bit of cash & %. Either way as has been said there will be no raise for the next drill. As usual a crazy aim market reaction, in my experience of five successful drills in last two years I'm beginning to think I'd make more if they were dusters. The risks in these things are enormous so how people can think a few % is worth that risk is beyond me. There are much safer places for that level of reward to be acheived

It's in the guide book. First line of attack, attempt to destroy managements credibility.

Nice here in the moon. Not a lot of atmosphere in the bar but plenty of cheese n biscuits

I'll settle for anything that will give us a rise that will hold. It certainly could do with a blue tablet here right now :0))

Besides, the government has assured the Bod that the licence will be issued, so I wouldn't lose sleep over "IF" if I were you ;0))

Interesting choice of name valveman how ironic lol

As they refer to yesterday I suspect they were the director buys in relation to the raise?

Why bother? All you will do is drag them over here knocking this Tit for Tat. Silly on both sides imo

Sorry I misread the posts a little but hopefully you get the gist of my meaning. We don't know exactly what is in the contracts so we can't assume :0))

Not that certain about that Pete. I think it would very much depend on the small print of the farm-out. Elsewhere I'm seeing a claw back of costs from profits has been written into a deal so it is not certain to be forfeiture.

Ultimately, if there were no profits then it may well be the case but if we are not profitable by the time we have spent this carry out to FFD then I'd guess we are pretty much doomed anyway unless KW area takes off. I really don't see forfeiture as a risk tbh

That's another reason I don't understand the goings on here last couple of days. Were were expecting 750 but now it's 1500 then add to that the continued rise in oil price we should be going north not south.

Bonkers I saw the other day the Saudis need $83 to balance the books. That being the case and I believe I read somewhere break even at $20? will give us nice little margin. Do the sums on that 1500 bpd from April

If you remember the sixties you weren't there lol