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What a shame and disappointed RNS, we had funds till end of Oct with the last Bach of CLN's but now these are the last on offer. With further legal fees and CHAL administration fees can only conclude we require a new investor.
Without going to the market I fear CHAL will not get any interested financier, All this further delay will only hinder any interested party. Evidence of this was earlier by a statement from New York office department stating no financial assistance being offered.
Without any one stepping forward then I can only see a placing end of Oct now. At what price who knows but my bet would be lower than the current level as history shows.
Has the DFS been leaked out ? Nice to see buyers back in.
Can some one confirm these large buys are buys or can they be roll overs.
Notice the bid jumped 0.1p on such small buys that these had to be a buy order filled.
Lets hope the news of DFS arrives earlier than expecting catching the markets out thats been pushing the SP down.
Be great to have an positive RNS on Monday
Yes it was huge that the MM's received these at 0.2p and sold for 0.35p
Nice profit when you can get these CLN's at 0.2p.
When these run out then where do we get funding from ?
LuckyStar
Don't be a total fool with your response , Ive been here a lot longer than you.
The last set of huge CLN's were released at 0.2p FACT. The mm's mark up these at 25-30 % FACT hence why the sp was 0.25p until these last lot of CLN's been released and again why its been marked up tp 0.3 plus FACT
So we know and its been confirmed NO MORE CLN's .. FACT. Can you then explain or prove where the next funding is coming from in OCT ? and what the SP will be ? Our back up private investor no longer supports with further funds in way of CLN's.
Very often its lower than the previous offer, hence why I fear it will be back to 0.2p unless the NYW agreement in our favour
Looks like if this continues with negotiations another placing will be needed. We have funds until Oct 2018, and although I've been here for a while now getting very disappointed if an agreement does not materialise with a sensible solution.
I am very confident the NYW will go ahead before end of year ready for summer 2019 attraction, but the cost in funding this further etc etc can only conclude another placing. £95K is not enough to see us past the agreed resolution and beyond. And with no more CLN's to rely on then we are back to the markets. Last placing was 0.2p..... will the markets see the potential here and have a placing 0.5p plus or will it take advantage of the current circumstances and lower the sp even more.
I really wanted the CLN's to continue but hesitate thinking how else are we going to be funded from Oct onwards.
DYR
Read link below... Understand that TOPSIDE is the norm.
https://www.investopedia.com/terms/t/topside.asp
Rig company has spare parts so no issues with the drill.
AAOG have funds for such circumstances and still have enough to go to production hence the big 8p placing a few months back
Some very large buys last fews days being taken out so should see sp rising
After calculating last placing at 8p and with day & short term traders cashing in on the 30%-50% rise ( 8p to 12p )
We are now at a New Lows @ 11-12p thats holding.
Long term investors averaging down and new investors buying in and holding their positions then 15p-18p is the next resistance.
With only weeks away from flow rates I see buying pressure exceed this level and possible push higher.
With positive higher expected news on flow rates then 20p plus without question.
Very much low risk play at these levels with huge gains on offer
Good news last of the CLN's with MM's marking this up 30% today
However moving forward and without further CLN's to fall back on then there can only be a placing to raise the final
stage until the NYW is complete
What price will we see in Oct/Nov placing to carry CHAL into a running commercial business ?
I for one are deeply disappointed with todays RNS because the £1M draw down and further private funding that CHAL have benefited now cease there fore future funds can only be from a placing
Taken from ADVFN post
"The commencement of drilling operations ahead of schedule expected represents the culmination of a considerable amount of hard work by the team,” David Sefton, Executive Chairman, commented. “In the space of six months, we have effectively built a new operations team from scratch, commenced the well planning process, raised additional funds, negotiated all relevant contracts, completed a new Environmental Impact Assessment, successfully executed the workover of the two existing wells and have now mobilised an entire drill team and equipment. This is a real achievement for a junior oil and gas company.”
If we get any form of news over the weekend of positive oil flow shows this will be marked up by the mm's and a rerate of the sp possible back to high teens or even 20p plus.
Even at 20p thats only MC £32M.
Broker note marked this at 50p plus with positive flows.
Those waiting on the side lines I won't wait for the sp to lower, last opportunity was a few days ago when order books of a few million shares required at 10.3p were filled.
GLA
Means RNS due
With the announcements of internal shares sold at 4p shorts been taken this down to this level simple.
Now most have been taken out this should go back to 6-7p very quickly hence why every buy its tacky up.
I would worry if there are still some that think they can get 3p here.
Bounce of Low 4p's and i see this only continuing back yo sensible level
Only £32M at 20p M/C is nothing for oil company,
March 2017 this company listed on AIM at 20 p with knowledge of oil already flowing. Evidence of surface Oil was found on the grounds where the rig is going to drill. Target to evaluate flow rates not to see wether there is oil because we know there is Oil, just to confirm flow rates that will propel this company as a producing well. We have funds for the drill and funds for the production with no more funds required.
CEO always maintain that at this stage of the game ' WE WILL BE CASH SUFFICIENT ' ......... £32M M/C .... more like
£75M-£100M with revenues from the flow rate.
I am not suggesting £1 per share at the moment but 50p is very likely without any further funding required.
Confirmation of flow rates will push AAOG to a more realistic M/C of this level.
NO MORE FUND RAISING REQUIRED
PRODUCING FLOW RATES
NO MORE SHARES AVAILABLE - ( only 162M shares but most in private hands )
DO YOUR MATHS !
Company just getting on with the plant being operative again. All for the best reason to raise funds for this and no-doubt they will be reimburse for the pump costs in due course.
Why wait for other parties to take responsibility when act now, get the plant up and running and watch the revenue pour in.
With so much in the companies favour this is a steal at 9p
Back to low teens in a jiffy
Looks like we have enough cash till the DFS is presented IN SEPTEMBER. Cash burn is high so I can only see another placing there after to pursue final stages possible around Oct/Nov.
Will all the CDI's & CL's be taken ? anyone ?
How else can we raise substantial funds for the final stages for operative funding.
We have huge potential here and a great mine but realistically we need to acknowledge funding.