Member Info for EGTP

Just imagine if we were 6 times our current mkt cap ? we would then be level with BLOE (18 mil) which would be a fair value considering we have more or less the same production, and certainly at least the same achievable goals for 2020 in terms of BOEPD

DYOR

Apologies wrong board !

Just imagine if we were 6 times our current mkt cap ? we would then be level with BLOE (18 mil) which would be a fair value considering we have more or less the same production, and certainly at least the same achievable goals for 2020 in terms of BOEPD

DYOR

Keep in mind Paolo doesn’t ramp or promote pipe dreams because he’s a lawyer - so just expect the next update to be 100% honest factual and achievable -

This man doesn’t talk - he delivers

Once the JV sorted everything in Place to take this to 400 to 600 boepd + company without risk of further raise - there is no ramp or hype everything here is fact and once achieved potentially a life changer for the big holders and those buying at these ridiculous low levels - here’s to 2020 :-)

Correction rocket AOGL has in house surveyors and all practical in Thom board / Russel Lamming (this their speciality) and the first 4 drills are already staked and financed with RBL available to self finance the rest - this presuming AOGL do not manage to achieve a JV with their 20 mil plus of useable tax losses before this time - DYOR

What’s not to believe ? All the information is there and factual In the public domain - this is now a great company on a sound footing with massive achievable potential -

DYOR

Along the way, we settled numerous debts, avoided lawsuits /settled claims with creditors, cleaned the company operationally, are current with our filings, are in the final stages of the transfer of operatorship in Zinc Ranch (takes 9-12 months), we obtained a lease in the Texas Panhandle with 17 drillable locations with a PV10 of $7 MM, entered into an MOU with a large player in the Area to explore additional opportunities, and finally bring a clean structure with large net operating loss carryovers (20+ MM) that we can use to shelter gains in the future with any JV.


Commodity prices dropped by 20%, had to raise money to cover past and current debts and diluted shareholders. It wasn’t pretty for anyone, but we couldn’t get reserve based lending and until we got our governance and other issues resolved, we weren’t a proper candidate for a JV with a larger entity. I believe that we’re much better now than we’ve ever been and are working to monetize all the effort to date.

As management and as a Board, all we can do is try to move things along in the right direction with the resources we have at hand. Believe me, it’s not particularly pleasant every day, but we tend to forget where we came from and what we accomplished in one year. I, for one, am proud of the work that was done by the whole team, even if the share price isn’t reflective of that work.

You’re right, you can’t please everyone. Then again, I believe that trying to please everyone is tied into a fear of failure and I have no room for that in my life.

Thanks again for the support.

Best,

Paolo

One of my recent correspondences with Paolo Amoruso

Part 1

The decisions we’re making now have been part of a plan for almost a year, although some of the decisions had to be delayed until we cleaned up some of the surprises that came our way and had a solid base to step on. 1 year in I think we accomplished quite a bit notwithstanding the particularly sad share price.

Running stripper wells (<15 bopd) is hard business and only sustainable if you have scale, are in close proximity to one another, you know the geology, and have good relationships in the area to reduce downtime when things go south.

I came in 1 year ago in early October and worked with the UK group to put in place best in class corporate governance and procedures, introduce fiscal discipline and a structured decision making process. We conducted a thorough review of our portfolio even if it meant putting everything on hold. We brought on Sarah Cope (a former NOMAD) as a NED in December ’18. We renegotiated the Stockdale well package, picked up a salt water disposal well and another well with no additional cost to us, terminated all US based employees, reworked the wells, brought them online, merged with Attis in May 2019 with their Fort Worth gas assets. Russell Lamming (a geologist) and Thom Board (Petroleum Engineer) came on board as NED and COO/Director, respectively.
In June, our production update was as follows:
PRODUCTION SUMMARY - MAY 2019
OIL (Bopd)
GAS (MCFPD)
(Boepd)
MAX PRODUCTION
148.84
685.50
267.03
MEAN AV. PRODUCTION
79.32
303.55
131.66
NET MEAN AV.
56.58
216.51
93.90

We stated that once fully optimized, we should achieve close to gross 72 Bopd (oil only), and expected that production would be in the 110-120 BOEPD range.

Happy Christmas and best wishes Stalin and to everyone else here 2020 going to be a great year for us all - love the Ramper ! X

Hey Suhail have you looked at AOGL yet ? Great job with RLD btw - spot on lot of people owe it to you

Come on RLD - get passed 0.2 and you going to 0.3 !

?Luther your a man for specific detail so you’ll appreciate we can only go by what’s in the RNS’s.

110 boepd was the stated break even figure which was achieved by the end of July, and the August 28th RNS states the oilfields division would be cash flow positive as a result of the new contracts, there is no other information to contradict this.

??Presuming Attis is successful ??PA will earn considerably more than that of a top Lawyer. The last RNS states ‘Mr Charlie Wood, CEO and Mr Paolo Amoruso, Executive Chairman & Ms Sarah Cope have not drawn salaries for the past 3 months, Mr Russell Lamming has not drawn a salary since joining the board’

If this was still the case - or there was little hope of recouping their loses or indeed making considerably more money in near to mid term, do you really think they would all be sticking with a certified 7.6 mil company with a massive 20 plus mil of Recoverable tax losses available in a JV, plus 25000 acres of proven virtual virgin acerage with 17 wells already assigned if the company was really only really worth its current market value of 1.6 mil ?

Also ask yourself this - the first 4 drills already have approval and funding in place, plus preparation work is starting well in advance, the cost of doing this is approx 250k per well - so perhaps here lies your answer about why they were not receiving salaries for 3 months and how far the 420k loan goes ? Anyway I’ll leave you with the dooms day club - all the best :-)

Hey Luther you sold out at 0.23 and stated you weren’t getting back in so I’ve absolutely no Motivation to try convince you back in - and tbh couldn’t bear all the extra moaning and groaning that would come with it !

Yes maybe I’m gullible but from 25 years of running several successful companies built from the ground and Even multi level marketing I believe I’m a pretty good judge of character - but yes it is only my opinion on PA

For the benefit of others looking in - PA is not here to run a 10 or 20 mil company - he’s a major player and here to make Attis a major success which in turn lands him a bigger dividend or perhaps an even bigger job (not rocket science) and he’s currently heavily down on his own investment along with Thom who has a substantial investment in Attis.

Nobody is happy about the current SP, but he and Thom are clearly not worried about it either - if they were, a rampy RNS or podcast would have been delivered to temporally change things like the letter I shared with you all last time.

We have a new company that is a fantastic success story this year going from zero production to break even 110 boepd and nearly 2000 new well management contacts. We have approx 6 to 8 mil of certified assets - 20 mil of very lucrative tax losses that can be Leveraged in a JV, and the best part is we have a top lawyer and top oil and gas field man in charge, all this currently valued at 1.6 mil !

The red cave program will start next spring and is financed, and to me the 420k secured loan to get this going to then achieve RBL is a negligible amount and worry - and for all the moaning and groaning now I just wished they had hit us with another placing at 0.9 / 0.10 to finance it instead of the loan because the SP would be a lot higher !

But it is what it is - I can see the wood through the trees so will keep buying

DYOR

Hey Luther ‘the impartial’ You say nobody buying under 0.5. But can you see the blue trades at 0.40 0.44 0.45 ect ? If so I can confirm they are definitely buys because one of them is mine - there’s nothing wrong with this company it’s in great hands and heading for success - if the market doesn’t want to currently appreciate this - great I’ll just keep getting more !

I think we both know who we were talking too - either way I’m pretty sure weel be announcing a major JV shortly

Everything is a gamble - just like getting married PM709 - I’ve been in several of these some rocket some don’t and I even hold in proper companies that produce are cash flow efficient with value far higher than mkt cap but the market and current conditions simply do not recognise this - in RLD’s case nearly all the conditions and characteristics are in place for it to move substantially - with little downside at current mkt cap - DYOR

PM709 - Current market cap v value at disposal = ?

MMS very skillfully keeping this one under control -

I can only agree with you that there is that chance my friend - that’s what the security is there for.

But we have to keep in mind this is a 2 mil micro cap oil and gas producing company with new virgin acerage 25000 to drill / 12 wells next spring, nearly 2000 new well management contracts and at least 6 mil (some say 8) of actual assets before PQE is considered that is covering costs and breaking even - that’s as good as the likes of BLOE and MATD the only difference is both these companies managed big placings during the spikes to keep the lights on.

With that in mind the risk to new investors at the current sp is little worse than a top 250 -

To all looking in DYOR