Member Info for edgar222

…..wait. What was it again?

https://twitter.com/EdgarTwo2/status/1180016591486033920

Thanks, Robbie. Why will the CH1 drill be difficult from the off. I understand that the pressure is anticipated to be huge but is there more than that?

Dayjob has me swamped and am just catching up now.

Malcy says: "I conclude that it would be unlikely to see ARA putting $3m into the pot if they didnt have the confidence that this deal is at long last about to get done, accordingly I am starting to get genuinely excited that the long wait by Aminex shareholders might just be coming to its end with the next stage of the process looming."

I could not have put it better.

Let me put this simply. If you cannot see the way this is going you should not be investing in small cap O&G shares. Yes the waiting has been brutal but they are so confident of the licence and farmout that they are spending money on CH1 - 1TCF (approx.) target and a chance of oil.

Aminex has not always been a no brainer since the Highs of 2017 but it is now.

Next Monday. 7am.

Thank you for the responses. Apologies for the appalling spelling. I was on my phone when typing!

Betterupthandown

I have explained it. Now you are repeating. Dilution, dilution, dilution. We get it. When you bought here how did you think we were going to build the hub costing 300m? Isn't the pointthat the risk (which was always funding not geology) has gone (subject to the bond being successful) and the hub is very profitable on the gas already discovered? Add in Harvey upside, bolt ons from across the portfolio, licence rounds, purchases. Add in the fact that any new additions to the hub are exponentially more profitable than the core hun. Ask yourself, is the 300m money well spent. Answer: of course it is. If your answer is different then why are you hear.

Now please, add something of use and stop the endless repetition or I may have to conclude you have some sort of agenda.

Where were we told that betterupthandown? The funding plans I read always had an element of dilution with the bulk being on capital market bond-raising.

FWIW I could not disagree more with those complaining that AAOG are shooting for Djeno production.

It is absolutely the right course.

The fraccing of the Mengo was never free and had a cost to it, plus delays waiting for the Schlumberger fraccing unit. The Mengo declines after a year of production. The Djeno does not. A confirmation of Djeno flowrates of 5k bopd will transform the share much more than mengo 1.5k bopd declining. The topside upgrades to increase the flow from the 2k cap to 5k cap are not a major issue and can be funded from that initial flow. All while the market cap is exponentially growing because of news of success at the Djeno level.

I honestly think it is completely obvious that this is the correct decision.

It has to be kicked down the road as they cant have over 30% of the Company now or that would trigger a takeover.

Or perhaps you would prefer the company to pay back all the cash now, prior to any production income?

Betterupthandown

You call this dilution and say you are staggered. But the funding structure between IOG and LOG has always been well known. It is one of the reasons people avoided IOG (wrongly in my view). LOG bank-rolled the plans and without them there would be no Hub or Company to speak of.

I assume you researched all this before you bought shares and made your decision on that (well known) funding basis. If you had you would not be staggered but relieved that there is a way out of LOG and the scandal that never was anything to do with IOG. The market manipulation that went on off the back of that non-story is despicable.

If I was administrator/investor in LOG and was nursing awful losses I would be clinging to these IOG shares to bail us out. What a great recovery story for private investors who have been de-frauded that would be?

Viti I am sure you are right.

Twitter article : https://twitter.com/Alexios1201/status/1161162471564107776

All

Not had time to check but the historic NPV figure was Edison (I believe). Finncap working on NAV not NPV. Not seen an updated NPV. I repeat, not had time to double check this as am writing.

Am a big fan of this management and a holder (SIPP) for long term.

Is it just me? The numbers in the SWP drilling presentation are underwhelming. Both in target reserves and flowrates. It is said to be transformational but not on the numbers published.

However. Have I noticed correctly? They have only published the numbers for some of the target horizons, which makes me think they are holding back and managing news for upside surprise. I think that because I am a fan and therefore interpreting generously.

Is it just me?!

Trellis
I like Malcy. He is interpreting evidence honestly like the rest of us and I have gained over the years from his views. It is my decision whether I agree with him or not. Not his.
And on being PM, I agree. But I would say that my assessment is that at least Malcy is honest. Which probably disqualifies him.

https://www.youtube.com/watch?v=RTUk7Ukw2mU&feature=youtu.be

Given where we have been this is a fantastic deal.
Company significantly de-risked and an obvious buy at 20p.

My exchange with Malcy @edgartwo2
Me: Thanks Malcy. I read the #IOG farmout much more positively. Funding was the risk here and that is gone.
Malcy: I certainly get your point, I couldn’t resolve the paying out of revenue and the LOG debt. Company didn’t call until after I published.......if I’m wrong I will make it up

Excellent news including nominal consideration.

Jigsaw coming together.

I do not think you can reasonable read any of this news as talking about extension beyond October. It clearly relates to extension beyond July. That already is a "further" extension.

The positive here is the Zubair commitment. And that is a very large positive. IMHO