Member Info for itisagame

Zen currently has the ability to blag dribbles of placing cash out of shareholders.

The debt will be converted to license equity.

It is worthless without $2m for the license renewal and $3m to pay the outstanding debts.

Not getting a penny out of SNPC anytime soon (if ever)

Will AC manage to Do the same with Italy and remove or reduce the £3.5m to Coro dilution risk?

Would be a lot higher If AC could hold off on a placing RNS for 6 months, the monthly placings and wipeout of the order book each time is what has taken zen to this level.
The LOI rns and how the share reacted was a good example.

Can only think that Forums backers want to get a move on and get the job done.

“ In addition, AAOG will novate 100% of the intercompany loans with AAOG Congo to Zenith as of the date of Completion, equivalent to approximately £12.5 million.

Is that money Zen had lent to AAOG?”

Aaog plc loaned Aaog Congo cash, aaog Congo will owe on paper that sum to zen.

So zen plc will on paper be owed £12.5m from AAOg Congo plus $5.3m from SNPC. Which shows The tax benefits alone are worth more than the transaction fee.

I can’t account for the future expected dilution or other positive and negative things AC will pull out of his hat but yea, if AC can pull off the funding (the $5m not the £200k) then this does look cheap. I’m still in shock that he’s getting it for £200k.

Forum Must have a good plan for AAOG or are part of DS’ plan.

£200k plus $3m debt plus $2m for license renewal and you have a project that was once marketed at a ~£100m Mcap

Aaog released the RNS at 7am 15mins before zen.
Lse is just slow to put it up here.

Sigh, Back in the 0.1s great......

I never expected zen to be given the asset but Don’t forget AAOG Congo still has $3m debt hanging over it which will need to be financed (or rearranged AC seems good at that) it’s cheap for a reason.
Still Congo has had ~£20m invested in to it, still your picking it up for less than the expenses on a trip out to Congo which is no doubt a bargain.

Another one today. Aaog is giving it away now.

“ The Further Deed of Variation provides that the Disposal shall be for 100% of AAOG's interest in AAOGC rather than the 80% original envisaged. The Consideration shall be amended to £200,000 (the "Revised Consideration") which is to be paid in cash only upon receipt of consent of the shareholders of AAOG to the revised terms of the Disposal pursuant to the Further Deed of Variation (the "Revised Completion Date"). The payment of the Revised Consideration shall not be conditional on Ministerial consent. Zenith will assume responsibility for all liabilities within and ongoing costs associated with AAOGC at the Revised Completion Date. As a result, shareholders in AAOG will no longer have any exposure to the Tilapia asset or its liabilities or receivables from the Revised Completion Date.”

£200k now? At this rate Why not hand it over for free......
forum really want to move this on and become a cash shell now.

“ The Further Deed of Variation provides that the Disposal shall be for 100% of AAOG's interest in AAOGC rather than the 80% original envisaged. The Consideration shall be amended to £200,000 (the "Revised Consideration") which is to be paid in cash only upon receipt of consent of the shareholders of AAOG to the revised terms of the Disposal pursuant to the Further Deed of Variation (the "Revised Completion Date"). The payment of the Revised Consideration shall not be conditional on Ministerial consent. Zenith will assume responsibility for all liabilities within and ongoing costs associated with AAOGC at the Revised Completion Date. As a result, shareholders in AAOG will no longer have any exposure to the Tilapia asset or its liabilities or receivables from the Revised Completion Date.”

Anglo African Oil & Gas plc ("AAOG" or "the Company")

Result of General Meeting

Anglo African Oil & Gas plc announces that, at the general meeting, which was held at 12.00 noon today (the "General Meeting") the resolution put to the meeting was duly passed.

Anglo African Oil & Gas plc ("AAOG" or "the Company")

Result of General Meeting

Anglo African Oil & Gas plc announces that, at the general meeting, which was held at 12.00 noon today (the "General Meeting") the resolution put to the meeting was duly passed.

Different zenith energy

“Based on board positons taken to date, Forum RTO an African rare earth/battery metals project into AAOG that could be in production and with some exploration upside“

This is what I think will happen, plenty of opportunities, always able to initially raise cash to do it, can have a low cash input for highly speculative drill hole results. 40% between miton and forum so whatever they want to happen will happen.

A coincidence? 66.5m shares @ 2.5p = ~$2m

Buy the placing at 0.7p, hype it up and flip in to a rise around 2p to pay for the $2m LOI?

(Hopefully my maths revision over the weekend pays off)

Absolute Best case (or fantasy?) ? SNPC find $5.3m under the sofa and pay their debt off. atog pay any remaining fees back, directors past and present repay 3/4 of their salary back as they have failed to produce the promises made. SMP say they screwed up, repay half the drill costs, and everyone involved apologises for their incompetence.

Probable case : forum take 2 months and convert the other £100k to take a Total ~29.9% holding.
This becomes an official shell and gets ramped to high heavens
Something happens with talapia, disposal or liquidation and liabilities are somehow removed from The parent company,

Worse case : it drags out for a year while not trading them delisted and forum buy back all shares at a token fee or buys the Lot for £1 off administrators.

where has all the money gone? This isn’t small change if you add up all the placings over the last 6-12 months, and nothing really to show for it.

Or would it be about who’s in control of operating the asset?