Excellent AOGL progress22 Oct 2019 16:36
It’s an excellent update 90% of what I had hoped with a fantastic 25000 acre bonus, without the hype and pie in the sky figures of 95% of other AIM’s.
So simply Incredible we talking so much rubbish on here again - what the heck anything to put off new investors and trash your own investments !
We’ve got a progressive cash flow positive micro cap company here, we knew the only way to move forward was either new drills on existing acreage - or to conjure up the impossible and locate new acreage with confirmed appreciable resources without funding or a massive discounted placing !
We've now got this and even the money to get the project started in the absence of a JV, incomes from the new well managements will now be kicking in, the existing assets are Producing oil and gas at around 110 / 120 Boepd and we have good estimated medium term reserves which had to be at least part based on the latest drills from Donkeys years back
From my own correspondence with Paolo it was clear in my mind that despite the excellent sustained current production levels achieved so far, the intended reserve based lending proved difficult to achieve due to the current fall of late in (All) commodities, hence the delay in producing this report.
Paulo has always been very clear about his policy on ramping, and in this case once again wanted to produce not only a report - but a report with a deliverable action plan, they tried all conventional lending avenues, and in the end simply put hands in their own pockets to provide the funds needed to kick start this action plan which (most important) means they trusted the risk of being repaid with modest interest from future Attis production - what does that tell you ?
It should tell everyone this is a progressive company clearly moving forward in a sustainable well managed direction - If you want the hype and bull and quick short term spike and bust well there’s 95% of all other aims companies to choose
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