Member Info for itsgambling

No chance of Q1 IMO. Best guess is... Feb - big ugly fund raise ($3-5mill @ 5-7p). Mar - 25 yr licence signed. Apr - Rig chosen. May / June - Spud. IG

Sonny - enjoy the snow. And a nice bulgarian beer. Mike - The directors positively misled investors. They knew the rig was not looking good but gave the impression it was due in the summer. They didn't buy because they didn't want to lose money. And that continues to be the case. Everyone needs to see this now as a complete start-over (hence the new BOD). They are near enough back to the start (ie: no licence, no rig, no income and almost no cash). So - if you basically assume they lost all the IPO cash and wasted the licence, then we are back at beginning. Now .. If they can raise enough cash in the imminent fund raise, then they will be able to buy a new licence and secure a rig and off they go. My bet is that they attempt to raise $3mil or more this month - at around 7p - and that the directors (surprise surprise) buy in quite heavily to show confidence that the licence & rig will soon be secured. I will probably buy in at that stage too. IG

Cossy. If you read the ad doc the $100m is not required for the first drill and won't be approved until after first oil as it is conditional on hitting certain flow rates. IG

Sonny boy - I'll talk potential upside, and may invest, when there is a valid route to oil. At the moment I honestly can't see an easy way through these rocky waters. Most likely outcome, IMO, is that we see a big cash call this month, which decimates the sp. 7p is now an optimistic low. Once they have funds, then the congo will take them seriously and may offer a licence (at a cost), then you'll see another fund raise, (at a better price) and a rig contract - spud Q2 at best. That's the way I see it playing out. [And there will be over 120mill shares by then] IG

Ha :-) I can 100% guarantee the srsp rig will not be targeted by terrorist attacks in the near future ;-) IG Ps. I notice neither of you were keen to reply to my post earlier this morning as to why the congo government would award a licence to a company with no rig, no income, almost no cash and a history of failure? Maybe I should ask for a free 25 year licence! IG

�6 or 7 k - that's small change for you isn't it sonny boy? Hardly counts as buying ;-) Any predictions as to what the next RNS will say and when? Or has the batphone to Sefton stopped working? IG

As things stand I think AAOG would really struggle to raise �10m. They only have an mcap of �7m. And need a licence or promise of a licence for anyone to risk any new cash. Still disagree about the shares in issue. Think you are missing the point that, with more shares in issue, you get more shares for your �. The actual % of the company you own (for �100) is just the same no many how many shares you own. It seriously makes no difference. The divi talk is just that until you have income. Obviously need a licence and a rig prior to that. And cash before those. Best of luck, Will watch with interest. IG

Hi -ERM- My 'number 3' - "first to bag" should cover those. Shares in issue is not hugely relevant - mcap is key though and currently aaog has an mcap 1/4 of srsp. So, if they both had the same success, with no further dilution, an investment aaog will work out 4x better. Imminent dilution will hurt that soon! And of course this requires a successful drill - SRSP has the support and belief of BP, COSL, Schlumberger etc. AAOG has the support and belief of sonny boy :-) IG

If you were the department in Congo responsible to drilling licences, would you give a licence, for free, to a company with barely any funds, no income, a history of failure and no rig? If it were me, I'd charge for the licence, and even then I'd prefer it went to a company with a reasonly plan as to how they will use it [ie: funds and/or rig]. I honestly can't see any way they will get a licence, for nothing, as things currently stand. Apologies that this sounds negative. Just my opinion. IG

small drop - 0.07% I think [175k] IG Institutional Holders % Shares Owned: 55.30% # of Holders: 28 Total Shares Held: 145,988,695 3 Mo. Net Change: -960,593 # New Positions: 0 # Closed Positions: 2 # Increased Positions: 1 # Reduced Positions: 4 # Net Buyers: -3

Good morning maestro et Al. You folks fancy a sportsman's bet? :-) AAOG VS SRSP. First to spud. First oil. And first to bag? IG

There has been a long wait on this one. Once they confirm the rig is on route, I expect significant interest and a rapidly rising sp. You almost never see a company of this size partnering with the likes of BP, COSL, Schlumberger. IG

I don't know mate. It was something posted by a proper crackpot on twatter so could be rubbish. I did remember people on here talking about an eni drill so I guess it would be easy to confirm. IG

Yes Loz. As per the admission doc (on the website) - the funds raised in the recent 1p placement fully fund the drill. After the drill / on first oil - they are in discussion with a company to open a $100m credit line, based on the BP prepayment deal, in order to fund & expidite a multi well campaign. Interestingly, they appear to be using an oversized drill for the first well, so they are anticipating the next phase already. IG

Did someone say that the rig aaog was going to use was currently being used be ENI? I just read on twitter that their drill has had stop for repairs. Sounds like further bad news and delays. I'd like to know if the money spent preparing for the Eni drill will have been a waste if they switch to another drill? And how many months wait switching will incur? IG

Thanks to Hotrocks on advfn... "'So what's the point in going way over the top with a $90k ultra-sophisticated very expensive sledghehammer to crack a nut.' An interesting story surfaced this morning that caught every one by surprise...(maybe SRSP know more than they're letting on...) from Pro-Active Investor today.. Lekoil study unearths 5.7bn barrels of oil potential offshore Nigeria 08:05 31 Jan 2018 ps..this is ,virtually, next door to OPL 241 in which LEK have a 1% interest and Owena Oil and Gas, our partners, have 80%." No wonder the big names of BP, COSL & Schlumber are interested in our little company! IG

Hi Fredr. Yes, I investigated where the attacks are targetted and what realistically the risk is on any investment, and I found the region of previous activity was far from our licence area (other end of the coastline). And obviously they can't target SRSP specifically as there is no rig yet! The upside is huge, given the high profile partners and I see next to no risk of delays (as fully funded and COSL providing rig are a partner). Basically I didn't want to miss out on such a gift so I bought back and added more (now holding about �40k - and may increase that). Expecting rig news within a week and sp quickly up to 1.5p as we approach spud in March. With BP etc involved, it could attract some serious interest. IG

With the strategic partnerships - COSL, BP & Schlumber - I expect there will be a stream of news starting soon. Rig on route any day. Spud in March. First oil April. Immediately after, the $100m funding and further wells will be signed off. More licences agreed in May/June. Given the big names involved I'm expecting �100m Mcap in months. IG

when you compare with SRSP. Both looking to drill in a know proliifc licence area. SRSP have strategic partnerships with BP, Schlumber, COSL. Fully funded. Rig chosen. Revolving $10m prepayment offtake agreement with BP. Specific pipeline and potential $100m funding for future expansion. A professional company. I'm heavily invested in there and we will hear about spudding very soon - and the associated sp rise will be a pleasure. Then there is AAOG - no rig, barely any cash, no trust, no ecconomical licence. I know where I'd prefer to risk my cash. IG

Chart looks ideal. NICE double bottom - no question in my mind that we are now building to rig news and spud. Looking at the big names we're working with (BP, Schlumber etc) this drill will gain a lot of attention. Esp when they announce the other licences. IG PS: Reversal was only a matter of time as the placement guys needed to sell lots above 1p to break even!