Member Info for itisagame

An alternative with the same net effect to the deal would have been to give AAOG shareholders 1 share in Zen for every 4 owned in AAOG, + the £500k for AAOG PLC for the AAOG congo subsidiary,
It would have left existing shareholders exposure to Talapia and a funded shell, would have worked out cheaper cash wise for ZEN and kept the potential cash out of the hands of the current board.
Also would made it easier / better for ZEN to loan against the asset.

look forward to what comes of tomorrow. GL.

So the possible worth of AAOG now as i see it.
£500k cash
£500k ZEN shares
$1.1m SNPC debt
$1.1m Free carry
$<400k towards licence renewal "bonus"
Possible £1m - £2.5m for remaining 20%

Total Around £4.1 -£5.6m / 1-1.4p @ 400m shares.

- the debt AAOG is exposed to,
+/- and the liabilities which we have not been told,
+/- current cash,
+/- CLN cash and dilution,
+the returns from the ISA over time.
+/- the change in ZEN shares
- board costs.

potentially worth more If the well hits over 4kbpd and AAOG doesn't use the put option and instead utilises the cash flow.

https://newsweb.oslobors.no/message/493220

http://www.alignresearch.co.uk/anglo-african-oil-gas/statement-anglo-african-oil-gas-shareholders-2/

https://newsweb.oslobors.no/message/493220

http://www.alignresearch.co.uk/anglo-african-oil-gas/statement-anglo-african-oil-gas-shareholders-2/

Either way licence renewal is the key, technically SNPC could wait 6 months and then say AAOG / Zen / whoever failed to meet their JOA by not securing a renewal of the licence etc and not pay a penny. (Then no secure 100% of it for themselves.)
Then what is AAOG congo worth? it will be laden with debt and have no asset. so could ultimately be liquidated whoever owns it, still a very risky position for everyone.

The company spent all its cash on experts and the other rubbish that was not needed for the licence renewal, should have waited until it had actually renewed for the 25 years.

"New licence
Discussions about the issue of a new 25-year licence to replace the existing one that expires on 15 July 2020 have made good progress. The Tilapia site and the Group's field-development plan were subject to audits and analysis by the Director-General of Hydrocarbons ("DGH") to ensure that AAOG was committed to invest sufficiently in the field. In April 2019, a letter was received from the Ministry offering the 25-year licence subject to final negotiations, which commenced in June 2019.
The directors have assessed the carrying value of the well TLP-103C on the basis that the licence would be renewed on commercially acceptable terms. "

Before zens proposal AAOG was 0.55p, ~£2m Mcap.
At the same time Zen was at 1.8p ~£8m Mcap

Now zen is 2.5p, ~£11m Mcap, the market might not necessarily value Zen at much more after the deal until oil is found and zen has a lot of capex to find.

“ Last chance to get some ZEN shares cheap before Monday”

if zen win AAOG holders are getting £500k worth of Zen shares anyway. And I hope zen have the $7m ready to carry us, will it be that bond being stretched or more zen shares placed funding it?

how would we fund this investigation? Having to sub out the office space atm.

Could go private after then, free carried and we have a good well, get that 5k bpd, netting 560bpd to AAOG, give 1 barrel A day to each shareholder per 1,000,000 shares held, and the remaining 160bpd covering managements cushty office job and running costs.
Would Be a nice little earner to supplement our income , Yep i’m dreaming but that’s similar to what was touted possible not so long ago.

Yep I’m dreaming.

Yep, should have and they were paying but then the board here didn’t do what SNPC wanted them to do, as outlined in McDonald’s open letter.

Does Alex still want a roll even at 20%? He could still be a good part of the team, We should have plenty of empty chairs on AAOGs half of the Conference table in the office, will have to put a screen divider up so he doesn’t see ATOGs side of the conference table though.

Even if zen win At 1.5m Mcap I still see value in AAOG, but it still will have to booting out the entire current board.

If the deal is actually that good for zen then £500k in zen shares could be worth more than the current Mcap of AAOG on its own.
I understand the situation, I understand SNPC wanting to deal with a company that has cash behind it (zen don’t currently but Aaog deal will be the cherry to finialise their $25m bond or whatever it was), which in turn could help AAOG piggy back off of any success.

One of the worst parts in the near future is having to RTO a new asset when AAOG has no cash. if the listing could sit without that knowledge (I know we got 6 months + 6months) and actually see the drill and potential production results it would atleast give the company a chance (on good outcome) to have Something worth selling for top dollar.

But still no one has to like how this has clearly been orchestrated.

Investors won’t vote for it but the board will use the unpaid isa shares against paid up shareholders, that is the single act that will secure the vote against actual shareholders. Should be impossible, should be illegal, but somehow the people who have not invested a penny have the fair majority of votes.

I suppose the zen shares will be issued to aaog at the high prices giving AAOG less shares? Not the 1.6p lows when deal was announced?

= +4 “for” the four resolutions. ? ;)

Votes are counted by a member of the shareholder registrars.

Atleast that’s what I was told in previous companies.

ATOG have covered their ass by making a payment to AAOG, if anything comes of it they will say "well we paid AAOG £xx, we dont know what they did with the money...." can guarantee these will be the only fully documented money transfers in the companies history.

Doubt its Milton they would buy from Riverforts CLN.

Just resent my amended proxy forms after Halifax refused to do it, if they are accept them and great, if not so be it I’m not driving To London.

The post office will probably make more from AAOG than me.
I did what I could with nearly 3m shares.

And as expected my timing is awful :)

Actually that was my trade from last week, and I lost £300. But made it back elsewhere already, I’ll be back though, just some daily drops elsewhere provide a good op.

The last 600k sell is a buy, it’s mine, I’m just a sucker for punishment but still see net value either way, it’s 0.45 to buy.