Member Info for itisagame

Just looking at them to see what bonuses the board are due if there is an asset disposal.

While im looking did they comply with the following ...?

"The Executive Di rectors hav e agreed to take steps to defer part of their salaries in the event of technical issues on the completion of the first new well(TLP-103)or otheroperational reasons resulting in a failure to increase pro ductionto at least 400 bopd by 30 June 20 17. In such circumstances,and in the event that the average price per barrel of oil received by the Company has been less than US $35, half of all monthly remuneration of the Executive Directors shall be deferred and shall remain so deferred until the Company is able to pay such deferred remuneration from its free monthly cash-flow."
http://www.aaog.com/archive/Admission-Document.pdf

Also no mention on who would pay the SMP $650k if the legal bid failed, would AAOG be liable for 100% or 20% if ZEN take over, as it is a legal matter pre-disposal and they do have a few legal terms on the proposal.

couple of questions on the SMP matter.
If a loose..
Is the $650k just for AAOGs 56% stake (with another 44% for SNPC) ?
or is this down as joint company running costs, so $650k minus 44% is the net cost to AAOG?

If successful...
Would AAOG / or AAOG Congo get just 56% (56% of $3.1 = $1.75m) or the whole amount?

and is it AAOG Congo OR AAOG (PLC) they have this dispute with?

I’m Disappointed that the company didn’t raise capital in the 0.3s and use the share price momentum to its advantage and there will be another placing. But I re-entered at sub 0.1, hopeful for a quick trade and a bounce closer to the recent MAs,

PS wasn't much available at that price, only filed half my order.

I think the fact that zen are only putting an initial £83k at risk shows how much they care.

They are only buying in so they have another asset to tout the next time they want to secure or raise capital, the $4m of debt to Zen that has a net cost of peanuts on zens books will just help underpin and hedge new debt.

Gives them a good excuse to place another couple of mil in to shareholders.

No brainier for Zen, eventually pay £500k then load AAOG Congo with debt secured against the subsidiary = instant profit on zens books.

I Voted for align for the extended time, but I don’t think either is perfect, zens deal will leave Aaog with next to nothing and be a way for problems to disappear for certain people. and I think aligns deal would just lead to a long period of “WDC / EHGOS Sefton style” of drip drip warrant conversions where one batch is sold in to the market to pay for the next conversion.

aligns deal offers a better short term sp over zen, but both deals will never justify the 16p of days gone by. And Company needs cash aligns deal offers a larger chunk of cash.

Tbh If zens deal was £1m upfront I’d probably have voted for that but then that would have been the only option on the table.

Was a tad over optimistic for align to assume 12 warrants per placing share, in reality it gives a £100k placing to much control over the companies future.

Very much the same way the ZENs £83k upfront gives them to much control over AAOGs future.

Solution : either up the cash upfront with less warrants and keep the isa share deal going, just add conditions to the share sales.
And / Or counter Zens offer so AAOG keeps a controlling stake, require payment upfront from them. Aaog no longer have threat of becoming a Shell company, Zen take on less liabilities which they do not currently have funding for. Between them and snpc they can get drilling cobbling together whatever funds possible, using the equipment SNPC wants, SNPC then starts repaying and god forbid they might even then start getting oil out the ground.

1 warrant for each placing share @ *1.15*p. / 90m new shares

Aligns deal would give a total of about 557m shares in issue and raise £2.7m in the end.

How about this option.

£900k placing @ 1p / 90m new shares
1 warrant for each placing share @ 1.5p. / 90m new shares
Keep the ISA shares the returned price should raise a minimum of ~£800k over time @ 1p base.
total shares at the end : 577m / £2.7m raised.
BUT MUST BE on the condition that the ISA shares have their voting authority removed (while held in the ISA.) once in the free market they act as normal shares.
AND the ISA shares to have a 1p minimum selling price.

The difference is 20m potential warrant shares, Aligns deal still uses £900k initially, and a potential higher return from the ISA sales as the share price *should* be higher

Debt at the asset level to remain the same.
Still want the new directors.

Thoughts?

12 warrant shares for each placing share ? hell id put £50k into that, sell at 0.75-1p and take up to a £15k loss (use as a tax right off anyhow) for the long term potential of clearing £300k+ if the sp hits 2p+ and i execute.

realistically needs more cash upfront, and less warrants. (the ISA deal aside, but we can see why the isa shares cannot be controlled by the board.)

· Subscription ("Subscription") for 10 million new ordinary shares in the capital of the Company ("Ordinary Shares") at a price of 1p per Ordinary Share (the "Issue Price") giving proceeds of £100,000 to the Company (the "Subscription Proceeds").

· Warrants to be issued to subscribers totalling 120 million Ordinary Shares with a strike price of 1.5p and a life of two years from completion of the Subscription;

“ Voting Rights

The Investors have undertaken to the Company that they shall:

· irrevocably appoint the Chairman of AAOG to act as the Investors' proxy at General Meetings in respect of the ISA Shares that they hold from time to time during the term of the ISA; and

· for a period of 60 days following the date of Admission, only dispose of any of the ISA Shares, by means of a trade through a recognised broker on the public markets and in particular shall not enter into any block trade arrangements of any description in respect of any of the ISA Shares.

The Company has agreed not to disclose inside information to the Investors unless consented to in advance by the Investors during the term of the ISA.”

Douche.

“ The board has undertaken to vote its Ordinary Shares, including those held by RiverFort and YA II, in favour of the resolutions to be proposed at the General Meeting.”

Really ? The board are going to use the shares that have not technically been paid for to vote for zen?

And failed to say BOTH deals require repayment of SNPC debt for drilling to go anywhere, why is it ok to sell 80% of it to Zen for £1m (at £83k / month) but not let the asset take on $5m debt? Just because you take the loan doesn’t mean you have to spend the cash Sarah, for the small interest cost just use it as security!

Is FCAP on L2 the same company as nomad? “finnCap Ltd (Nominated Adviser)”?

It Might go against my position but he asks the questions we all wonder and has looked at a lot of the same sources as others use but he also has other sources and as PI it’s always best to accept information from all sources, wether you like the information contained or not.

If Chris oil and crew are involved you could say he has..... a common pattern of “trading “ stocks, so he normally come out on top above most others.

Dan doesn’t normally talk about companies that are well run and where everything is all above board so his articles Normally seem to kick companies when they are down. But he highlights the right issues.

Going forward I think McDonald and the director approach is genuine and in good faith and they seem to have the experience but he’s right to point out as some questions need to be answered, on the funding side.

tying up the details of the $5m loan that is the most important matter, the placings are small enough to sort out.

If it helps pry information out so it is in the public domain great.

?

Odd top lines on L2

AAOG – STATEMENT FROM PROPOSED DIRECTOR NOMINEE ALEXANDER MACDONALD

http://www.alignresearch.co.uk/anglo-african-oil-gas/aaog-statement-from-proposed-director-nominee-alexander-macdonald/

snap :)

http://www.alignresearch.co.uk/anglo-african-oil-gas/open-letter-to-sarah-cope-of-aaog/

January 1, 2020

Was a genuine question.

I may be being naive but I long ago accepted that the market is a game, so in your opinion how can we all win?

Why can’t you accept that somethings are and have to be confidential?
The market will know in time.

Either deal needs the following passed, so make sure you get your votes in or you may never know.

“ Special Resolution
That the ordinary share capital of the Company be subdivided into ordinary shares of £0.001 each and C deferred shares of £0.049 each and the new articles of association be adopted”