The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just emphasizes again that PIs should not ignore the risks of drilling for oil. Don´t be persuaded to invest by rampers!
More time and expense required. They need new permits "from all regulators" for the remedial work...
"It has become apparent that a part of the perforated interval is producing water, which is inhibiting significant oil flow and therefore has not allowed for sustainable flow rates of oil to be reported at this time.
Small quantities of oil of 40 plus API have now been returned to surface and sampled in the returns and has been confirmed through analysis as Kimmeridge oil.
Angus Energy is now putting together a further engineering program to isolate this water zone which will, subject to agreement from all regulators, include the return of a work over rig and the Company will update the market as soon as possible."
Not true, woody2002, some will be listening and some will now hopefully thinking I have a point and to listen to ramping BS all the time simply won´t make you rich. I know that for a fact.
Washers, it maybe a good buy, but at the moment there are too many uncertainties. The spike in the SP was all about the Djeno result. They haven´t flowed from it yet nor the Mengo. It´s still very much high risk until they actually get this water injection working and the flow producing to generate revenue above costs.
Oh dear, how the rose tinted PIs are so easily fooled. DS said that if the get 500bopd, they may be open to conventional debt and implied that a major could be interested. What he should have been asked is if he has enough money to get the Mengo into production. He is talking about the future of possibly not needing to raise IF they can get good oil production from R2, Mengo...
12 minutes and 5 seconds into that video...
https://www.youtube.com/watch?v=zecWkQ0hJgg
Nonsense, the super major line was a ramp. RNSs are what counts, the last one was about the "Turner Pope Investor Evening" on the 11th. Already covered that.
https://www.turnerpope.com/
The presentation video is here...
https://www.youtube.com/watch?v=zecWkQ0hJgg
Notice all the empty seats?
Washers, what he expects or hopes for and what SNPC give him remain to be seen. He will be very careful not to upset people when dealing with the SNPC in my view as they could quite easily tell AAOG to do one.
I think what investors should realise about the SNPC is that is Government controlled. That means they have authority over AAOG no matter, despite their smaller 44% interest.
https://www.snpc-group.com/en/profile
TarryBreaks, SNPC are government run, they have much more authority than Aaog IMO. They don´t need to pay cash upfront for exploration costs as has been observed. Aaog are owed money from SNPC, yes, but they can pay this from future oil production revenues. ie. no cash required.
SNPC are under no obligation to contribute to drilling costs, their licence agreement allows them to pay their way from future oil production.
"It should be noted that the terms of the existing licence over the Tilapia field allow for the Company to claw back any drilling costs incurred above its pro rata share from future cashflows. The draft new licence referenced in the announcement of 5 March 2018 also allows for this."
https://www.investegate.co.uk/anglo-african-o--38-g--aaog-/rns/operational-and-financial-update/201805030700039560M/
SNPC, read more here...
https://www.snpc-group.com/en
Chart updated bonker99, yes, it does look slightly better now. The massive sudden spike and overbought RSI said enough to me though.
https://postimg.cc/7C7fj3PY
It's always Fibs for me bonker99, fibs and RNS. Of course where you start and finish the fibs are "best fit" in my opinion
If you are going to raise £6 million or a 33.7% dilution of the shares, the HNWs have to be convinced that they have got a good chance of a quick profit. The Djeno result was the key factor here and the timing of the placing was just a week or two before the result as PIs were whipped into a frenzy about it. All set up for the flippers to make a quick buck.
I know you don't like to hear my opinion, but it is my genuine opinion and no, I'm not getting paid to deramp, just been around long enough to know how PIs are deliberately fleeced.
Massive pump is evident on the chart before the placing. Sefton knew all about it in advance.
Chart updated with 10p placing line...
https://postimg.cc/7CvsPhmK
Nope, I predicted the fall here from the 17p spike after all PIs were sucked in on Sefton´s proactive interview. I posted a chart, the spike from 6.6p to above 14.7p fib line was all I needed to know. This was before TW announce a placing was coming
Majors can afford to drill and keep drilling and have clout with the government. This lot?
How did he end up drilling for oil in the Republic of Congo. Majors, yes but a tuppence ha'penny AIM stock? It´s a typical rainbow chaser´s dream. So many like this have failed in the past I´m afraid.