Member Info for hand-some

get a sense of humour or get a brain transplant. in any case make your point, argue or whatever but drop that overinflated ego of yours!
God please guide this Curious plonker on the straight path. Amen

Thanks Daiive...ooop sorry Rodders :0

I like this

'if we complete the initial capital raise of approx £1 million (and that both Matt Thompson and I are participating in – illustrating our confidence in ourselves and the plan) then I believe that stabilises the company for a good portion of 2020.'
So it is nonsense to say they have got nothing to lose. They said they are investing themselves however much that is it is much more that DS and Berwick ever did which is one huge 0. Align also said that they will be on min salaries and tied to sp performance.

There def are few questions about this deal and not just about the debt but about their contacts in SNPC and Ministry as this IS the real key. But to compare this to Zen is real proof of stupidity.
Zen deal is also full of ifs and buts and complete unkownns that they are asking us to trust them with. This was AMAZINGLY nor problematic for Sarah Cope. Where were her clarification questions to Zen before she recommended it? But she is full of it with this Jub/Align offer. It is she that shines with shear arrogance and pride which unveils her real motives. Shocking really
Amazingly corrupt games being played here. I can only do what I can and I have voted that Zen set up of a vote down.

Good post Curious. You see it can be easily done without offensive words and nasty innuendos.
Of course I completely disagree with you as days ahead will easily prove if they have money..will the newly appointed directora invest..how much will they be paid, plan with SNPC/Ministry. if proposed money terms are there then no question that it is much better offer than Zen just on those terms. so lets see my Yorkshire friend..was it owt for nowt

Curious just look at yourself for a change. Tiptop and irish might be all you say But you my little pathetic friend are a perfect example of zero awareness of your own hypocritical behaviour. Where is all that talk about Align and their non existent non offer as they dont know what they are talking about? Where is the response from you on the events from last 2 days? Absolute hypocritical silence. Are you going to admit your own deceiving behaviour? I mean lets judge you by the same standard. But of course not..there's gonna be some silly cowardly imbecilic excuse from you. Isnt that right you pathetic hypocritical Mr. imbecile?

TipTop we have all lost here. We are responsible for our own actions so shouldnt blame any posters here unless they were intentionally deceiving us while knowing inside info. This we do not know about you and so I can only trust your word as you seem genuinely surprised and angry at their actions.
I think that you have made a mistake of not posting here for last couple of weeks and days until today. Your post below does not explain or provide clear justification for that and you should apologise for just disappearing and now coming back on better newsday. Although your post sounds genuine and honorae the aspect of dissapearing after bad news leaves a bad taste and you should be braver than that.

Angie, Oh Angie
When will those dark clouds all disappear
Angie, Oh Angie
Where will it lead us from here...:))

I think we know a bit about McDonald but can anyone shine more light on Thompson and his background.
One of the confidence building measure of this would be if they invest into AAOG through this offer, which DS and Berwick never did

Where is he? unfair from him to stay away when things went down - we are all losing and we all made mistakes here. Hope he is in good health

BUt where is COngo COdy today :) waiting for his negative spin on this one for now he is running away

Based on these numbers and growth in last few years I wonder how is this valued at £14 M? No connection to reality

If Align miraculously comes us with £1m at current share price do you think that AAOG will be able to refuse this offer as comparing to ZEN? What would be their justification in refusing it as the Align offer might value the company more. This might even push ZEN to improve their offer we just don't know. If Align proposes new management I hope they will invest and put their skin in the game unlike Sefton and Berwick

Agree with you Tiburn. Still lots of risk and unkowns and this plan would still assume that many things that Sefton/Berwick were telling us were true.
Have you spotted now hastily deleted tweet from that scumbag Assad coward supporting Tom BSFirth that attacked Align and implied secret emails to Aaog board!

look at this
'The Company continues to negotiate with ATOG in relation to the reimbursement of further sums incurred by AAOG in the pursuit of the Tunisian acquisition earlier in 2019.'

I mean can they ever issue something clear?! 'reimbursement of further sums' what sums? how much exactly you are trying to reimburse? just be clear. its like they are negotiating through rns and trying to hide

one thing is for sure, its gonna be a fun day tomorrow. which for us lth could be finally a good day after last few weeks...here is hoping

AlignResearch "Ref Anglo African O&G #AAOG & the joke offer from Zenith. Sarah Cope should hang her head in shame in entertaining this. Open letter to come in days ahead to AAOG shareholders with a pathway from us that involves transparency, commercial reality and a forenprecisely what has gone on under Sefton and Berwick's watch. Watched one too many of these horror shows end in tears for Ord shareholders. Gloves are off on this one.

Well the question is how you/market will value the AAOG or what is left of it now. Obviously bad smash and grab deal from guys who might not have any $ themselves but still better than going under which many of us LTH got worried about. Difficult to assign a value to AAOG now as we will get 500k now and 500k in shares (so 0.25p/sh) and then up to $5.5 M for developing cost and up to $2M for license and 20 % of SNPC owed money ($1M) and 11% of potential future success.
The speed of this deal is also telling, just few days ago they said they are talking to few interested parties and now this!?

The SPA contains commercial warranties being given by AAOG which are commensurate for a transaction in the nature and size of the Acquisition. Zenith is also making warranties concerning itself and its shares to AAOG which are commensurate for a transaction of this nature and size. AAOG will also be required to sign up to a tax covenant upon Completion, pursuant to which AAOG shall indemnify Zenith for certain pre-Completion tax liabilities which are not fully provided for in the accounts of AAOG Congo.

The Company has also agreed to standard provisions which govern the day-to-day and usual operations of AAOG Congo in the period from signing to Completion and the SPA contains a standard provision that allows Zenith to not complete if there is a material adverse change in the net asset value of AAOG Congo before Completion.

In addition, the Company and AAOG will sign up to a shareholders' agreement upon Completion which will govern their future relationship as shareholders of AAOG Congo.

The Acquisition is also subject to final regulatory approval from the TSX Venture Exchange.

Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to have signed this exciting SPA to acquire AAOG Congo which represents our first African acquisition and our entry into the attractive jurisdiction of the Republic of the Congo.

The Acquisition enriches, as well as diversifies, our asset portfolio by adding significant reserves and prospective production potential. This is line with our company strategy of acquiring assets with significant untapped production potential.

The License has excellent production upside, specifically from the Mengo and Djeno horizons. This has been confirmed by wireline investigations performed following recent drilling activities, thereby materially de-risking the asset.

Upon assumption of operational control, we shall look to begin preparations for deepening activities in well TLP-103C, obtain full repayment of the funds owed by SNPC, as well as successfully complete negotiations for a new 25-year license."

The SPA contains commercial warranties being given by AAOG which are commensurate for a transaction in the nature and size of the Acquisition. Zenith is also making warranties concerning itself and its shares to AAOG which are commensurate for a transaction of this nature and size. AAOG will also be required to sign up to a tax covenant upon Completion, pursuant to which AAOG shall indemnify Zenith for certain pre-Completion tax liabilities which are not fully provided for in the accounts of AAOG Congo.

The Company has also agreed to standard provisions which govern the day-to-day and usual operations of AAOG Congo in the period from signing to Completion and the SPA contains a standard provision that allows Zenith to not complete if there is a material adverse change in the net asset value of AAOG Congo before Completion.

In addition, the Company and AAOG will sign up to a shareholders' agreement upon Completion which will govern their future relationship as shareholders of AAOG Congo.

The Acquisition is also subject to final regulatory approval from the TSX Venture Exchange.

Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to have signed this exciting SPA to acquire AAOG Congo which represents our first African acquisition and our entry into the attractive jurisdiction of the Republic of the Congo.

The Acquisition enriches, as well as diversifies, our asset portfolio by adding significant reserves and prospective production potential. This is line with our company strategy of acquiring assets with significant untapped production potential.

The License has excellent production upside, specifically from the Mengo and Djeno horizons. This has been confirmed by wireline investigations performed following recent drilling activities, thereby materially de-risking the asset.

Upon assumption of operational control, we shall look to begin preparations for deepening activities in well TLP-103C, obtain full repayment of the funds owed by SNPC, as well as successfully complete negotiations for a new 25-year license."

The SPA contains commercial warranties being given by AAOG which are commensurate for a transaction in the nature and size of the Acquisition. Zenith is also making warranties concerning itself and its shares to AAOG which are commensurate for a transaction of this nature and size. AAOG will also be required to sign up to a tax covenant upon Completion, pursuant to which AAOG shall indemnify Zenith for certain pre-Completion tax liabilities which are not fully provided for in the accounts of AAOG Congo.

The Company has also agreed to standard provisions which govern the day-to-day and usual operations of AAOG Congo in the period from signing to Completion and the SPA contains a standard provision that allows Zenith to not complete if there is a material adverse change in the net asset value of AAOG Congo before Completion.

In addition, the Company and AAOG will sign up to a shareholders' agreement upon Completion which will govern their future relationship as shareholders of AAOG Congo.

The Acquisition is also subject to final regulatory approval from the TSX Venture Exchange.

Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to have signed this exciting SPA to acquire AAOG Congo which represents our first African acquisition and our entry into the attractive jurisdiction of the Republic of the Congo.

The Acquisition enriches, as well as diversifies, our asset portfolio by adding significant reserves and prospective production potential. This is line with our company strategy of acquiring assets with significant untapped production potential.

The License has excellent production upside, specifically from the Mengo and Djeno horizons. This has been confirmed by wireline investigations performed following recent drilling activities, thereby materially de-risking the asset.

Upon assumption of operational control, we shall look to begin preparations for deepening activities in well TLP-103C, obtain full repayment of the funds owed by SNPC, as well as successfully complete negotiations for a new 25-year license."

securities laws, specifically the COGE Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.

- Zenith intends to begin preparations for drilling activities in well TLP-103C as soon as it assumes operational control of the License.

- The Company intends to complete negotiations with the Congolese Ministry of Hydrocarbons to obtain a new 25-year license for the Tilapia oilfield once the SPA is effective.

Pursuant to the terms of the SPA, Zenith has agreed to acquire 80% of the issued share capital of AAOG Congo for a consideration of GBP1 million, of which GBP500,000 is to be satisfied in cash to be paid in six equal monthly instalments with the first instalment due on completion and the last being six months later, and GBP500,000 to be satisfied by the issue of ordinary shares in the share capital of Zenith to be issued at the volume weighted average price of a Zenith common share for a period of 14 trading days prior to Completion ("Consideration Shares").

AAOG has agreed that it will not dispose of the Consideration Shares for a period of six months from completion and thereafter will dispose of the Consideration Shares in an orderly manner.

In addition, Zenith will fund AAOG's share of an up to US$5.5 million work programme to be agreed post-Completion, and the amount of any signature bonus required for the renewal of the License as agreed with the Congolese Ministry of Hydrocarbons, subject to a cap of US$2 million if the signature bonus is payable in a single instalment and otherwise at an amount to be agreed between the AAOG and Zenith if the signature bonus is payable in multiple instalments.

As at June 30, 2019, the unaudited balance of the intercompany debt owing to the Company by AAOG Congo was approximately GBP12.47 million at the GBP/USD exchange rate on that date. Under the terms agreed for the Acquisition, at completion AAOG will novate 80% of this debt to Zenith and will retain 20% on its balance sheet.