Member Info for Jonnyfro

We know from my comms with James Berwick the following 1. New pad will be finished within 10 days 2. Rig will be inspected whilst pad is constructed 3. They then need to hammer the new conductor and move the rig Respud end of month in my opinion There’s also a proactive interview planned next week and aaog are at momentous events on 22nd so there’s a lot of pr coming our way! 2-3 weeks and back to 12/13p

Jonathan, we expect the pad to be ready within 10 days, we then need to hammer the new conductor and then move the rig. I haven’t confirmed my schedule for next week as yet and I am heading home this evening. Regards, James. Drilling before month end imo

https://www.voxmarkets.co.uk/articles/anglo-african-oil-gas-block-energy-toople-53f8721

Email from jb this morning Thanks Jonathan, I am meeting with the drilling contractor this morning and hope to release some news tomorrow. J

Jb arrived last night I’ve had it confirmed by him

From jb this morning Jonathan, I am on route to Congo as we speak and will send out more info when I have had a chance to examine the problem. James

Agree Loz they’ve certainly lined a good number of pr pieces up to coincide with the drill bit turning. The question I have is why would they do all these interviews if they weren’t confident of hitting oil?

Good exposure for aaog https://www.forbes.com/sites/markvenables/2018/08/26/low-risk-exploration-the-key-to-success-in-the-congo/

Yep - that's total production from the R1/R2 layer

R1/R2 is 100-150 BOPD from this well - from the presentation on the website

R1/R2 SANDS
Production
• Currently producing
~38/bopd of 39-41 API light
sweet crude
• Strong candidate for
enhanced oil recovery to
extend field life and
production
• Potential to increase
production to between 185
and 250 bopd from two
existing wells
• Should add c.100 bopd per
new well – including TLP-103

Last week before r1/r2 oil shows imo Long weekend next weekend 5 trading days left

Think you'll find that the proximity of TLP-102 to TLP-103 might create an issue when drilling TLP-103 so would be advisable to put on hold until TLP-103 finished.

useful on drilling timescales:

Wed Aug 15 TLP-103 Spud

Tue Aug 28 TLP-103 R1/R2 Target depth reached Target 150 BOPD
~9 trading days since spud

Fri Sep 14 TLP-103 Mengo Target depth reached Target 500 BOPD
~21 trading days since spud

Sat Sep 29 TLP-103 Djeno Sands Target depth reached Target 5300 BOPD
~30 trading days since spud

Plus why raise now?
R1/R2 is 100% Chance of Success and will add 6p to the share price
Mengo is 60% Chance of Success and will add a further 18-45p to the share price
Djeno is 25% Chance of Success and will add a further 16-39p to the share price

All are on an unrisked basis
We are already producing from R1/R2 with TLP-101/102

Yes they will need to fund TLP-104 but that will come much further down the line
Hit the Mengo and we could be talking 35p+ a 3 bagger in little over a month to wait....

What's holding it back is we're still clearing placing money from 8p. Those that want to derisk or dont want to be part of the AAOG journey into TLP-103.
90m shares we're issued and we've traded 180m since placing so should be coming to the end of the overhang soon.
Volume has been on the woeful side but spud and 3 intereviews next week followed by another two with JB the following week should perk some interest.
Remember BOD are incentivised through share options at 20p
1/3 if they reach 1000 BOPD
1/3 if they reach 2500 bopd
1/3 if they reach 5000 BOPD

Plus Sister nearly didnt vote through the last placing so very much doubt they would be up for another
All oil sold directly to Coraf so has an immediate impact on P&L and cash balance
500BOPD and AAOG break even

3 interviews planned next week with ds and two the week after with jb plus an article in an upstream newspaper. Then all the twitter updates and pre-spud party on Saturday with top people at hydrocarbons commisssion and village elders. It’s coming folks

Morning all, Since we’re discussing the vanji this is what I’ve had back from jb 1. The raise in June was that sufficient to drill the Vanji as well? The Vanji is not a target for this well (in a pure sense), however, if the well is performing as per our geological model then we will likely deepen the well to include the Vanji. As it stands at the moment if we decide to deepen the well we are funded to do so. Regards

Yes we've been told that we will be updated as they hit each target

Wed Aug 15 TLP-103 Spud

Tue Aug 28 TLP-103 R1/R2 Target depth reached Target 150 BOPD
~9 trading days since spud

Fri Sep 14 TLP-103 Mengo Target depth reached Target 500 BOPD
~21 trading days since spud

Sat Sep 29 TLP-103 Djeno Sands Target depth reached Target 5300 BOPD
~30 trading days since spud

http://www.aaog.co/archive/research/8-Jun-18-AAOG-Djeno-Unchained.pdf

Finncap research note has alot of information in nozzla