Member Info for edgar222

Agreed, cperkin.

I am hoping I look back at these last 2 years as the greatest buying opportunity. Have doubled my holding in that time. May be the greatest mistake ever but I just do not believe they wont get the licence and complete the farmout. And then its back to the geology. Which is why I bought all those years ago.

I totally agree with him that it is all about cashflow and not reserves in this market.

1500 BOPD in April is amazingly quick. Have been looking for fraccing units on Amazon and ebay but I cant get one to them quicker than Schlumberger.

Actually t123ham it could be described as an unenforceable agreement to agree....;)

Thanks Ralph.

If those figures are right AAOG can self fund the topside Djeno infrastructure from mengo production !

Tiptop and others

Just listened to Malcy on **********. He is happy with the discovery and the future but says it will cost to develop.

Has anyone any idea what the infrastructure cost will be to produce 5k BOPD from the Djeno?

Morgan Stanley

I agree with your positivity.

1 small quibble. The RNS does not confirm that the Govt will pay back the $10m from oil sales, it says this:

"To the extent that the Company is still owed monies by SNPC, it will be able to recover such amounts from gross oil receipts otherwise due to SNPC from the Well."

Am still hoping for 30% more of the licence in exchange for that $10m.

The $1m per month net free cashflow does not include the repayment of the £10m owed by the Govt, as I read it.

Which means the $1m per month is conservative in terms of the actual cashflow.

Am I wrong?

In which case, Verbier Dave, we would prefer 30% more licence as opposer to cash. In prep for the buyout!

I thought it was very positive.

Production from April (Mengo and R2). Need a pipeline to deal with Djeno production. 30% of licence for $10m debt, and Sefton thinks the Govt will do a bit of each. The Govt seriously scrambling to sort that out so as not to delay development.

I also thought Sefton presented well. Made the case. He has had a lot of unfair stick. It is up to individual investors to decide what to do with the information he is getting, not his fault if they get it wrong.

All in all very positive.

Did not hear a flowtest plan or date but production in April the longstop?

That 400k shares buy was me. Rude not to at these prices. Will keep doing so when I can.

I just topped up. Market yet to catch up IMHO.

Day job keeping me busy.

Massive drilling success, hit every target. Cannot ask for more.

Unclear why they wont test and produce the Djeno and the market disappointed with that?

Licence news excellent. Full field development coming.

Djeno production deferral means that we have to settle for excellent production increase (Mengo and R1/2) rather than astronomical increase (Djeno).

Tonight the share is reognisable far too cheap. If I can get more in the morning at these levels I will, with my last pension payment of the year.

Someone knows something....could be a returning individual but I hope it is someone in the know re the licence !

Crusty

Free carry is an understood and widely used term of art in the industry.

It does not mean that the carry was achieved for free. I am not saying it was.

It means (in this case) no further cost outlay until the carry is exhausted. It is a future looking statement not a backward looking term.

The above is really so obvious it should not need to be spelt out (and I suspect you know that and are pulling my leg).

1. I am here to make money. Not to be proved right.

2. I need to dispassionately assess the value of the company not hold out for the yacht.

3. We have had so many false dawns that this phase we are in might just be another.

4. I have always been here for the geology and that has not changed. In fact, it has got better as we understand it more.

5. The corporate/funding side is about to simplify exponentially with a free carry to massive production. Yes, I said free carry and mean it ;)

6. When the licence is granted most of the farmout hurdles are cleared.

7. CH1 (remember "back to back"?) is targeting an enormous amount of gas together with the hope for oil.

8. I am an investor not a trader. If I want to hold for CH1 I don't want to trade out before that result even if rampyness pushes the price up. On the other hand, top slicing and de-risking is ok, especially since I have doubled my holding.

9. Fundamentally the only note to self that matters is what price do I need before I will sell my shares (top slicing aside).

Probably the above is not terribly helpful to anyone but it has helped me just typing it!!!

So thank you all!!

Strongman

Thanks for the post. I totally agree with your analysis and added some more last week sub 10p.

GLA genuine investors

Robbie

Had the same e mail. False alarm. Had to change my shorts though. Boxers not stock market shorts!

And now the twitter account is temporarily restricted, but still can be viewed.

Fun n games. And possibly crimes.

Lol.

Naughty Mouse

Rofl

https://twitter.com/baptiste_the/status/1086174818016346113