Member Info for maestro1

Only Just by that time it would be 30 days from the last rns stating they were in advance stages, to top it up David said he expected the license to be renewed in the very near future...

by the 11th of Jan the license extension should be done..

If you read the final rns, it states the main objective is to test the deeper prospects, the mengo and djeno horizons which are producing in adjacent fields to us. This is where the money is to be made.. Considering it's quite cheap to drill shallow wells it might be cost effective to drill another well rather than spend million on tlp 102 as that is only targeting r1 and r 2 region. If they extract oil from mengo than that might be better option.

Jimmy We gave PK $2.5m and around 25% of our company for licence, so your 7p will value aaog at 4.8m, with over $3m in the bank too. Some real desperate investors to put this down to 7p.

Sunny play Jimmy's game, even worse case placing at 10p, still not the end of the world for aaog. Just too much potential in this proven field.

Jimmy If they do a placing at 10p you wont be able to buy any as the price will double, as fuding to complete both workovers will be completed and the transformational drill, currently i think they have around $3.5m in bank and our share of well tlp 103 is $2m. January is going to be special!!!!

jimmy so you dont want the bet? "Follow him like a dog"... You have some issues mate....

jimboy so the current licenses they have are worthless to you? SAVP have exciting potential even without seven energy assets.

JimmyB I bet you £1000 me and sunny are not the same person, put your money where your mouth is kid..

Sunny thats the plan, he wanted SAVP come out of suspension so he could sell and jump in here, his deliberate de-ramps to scare punters especially novice traders. In the beginning he was talking about the license not being long enough and made a big deal about it, he said this can take 2 years to complete, Aaog are in advanced discussions to extend the license and it will be signed in the "very near future" according to Sefton in recent interview so its literally next few weeks. Then he went on to say the license is useless as the workovers didnt work on first attempt, New extraction techniques have come about and well tlp 102 requires the rig to complete workover and most likely they will use fishbone technique to extract the oil. Tlp101 requires new flow lines as there is alot of organic dirt in the old ones, this well use to pump 1000bopd in the past. Aaog are being cash conscience they dont want to spend more money on the two workovers before they drill the transformational well tlp 103 which can prove upto 66m boe of oil, for this well they are fully funded and i too would drill this well first as it would significantly increase the value of company from 8m mkt cap. The two workover wells have hydrocarbons and pressure, they may need further $1m-$1.5m to get them to produce the 250-500 bopd target. TLP 103 will be dealt with first, R1-R2 and Mengo are proven hydrocarbons horizons and then we have deeper djeno. Again mkt cap only 8m.

JIm i think you are a sad individual, everything in life there is no certainty, but you like to twist everything. SAVP board believe the deal will be done hence relisted and raising the cash, come 9th Jan i think it will be sorted.

Oh dear Jim, making things up as you go along, just last week you were saying it will take 2 years to renew license which was total bull. License should be renewed very shortly..

Akhtar This is what I'm telling him, 300K has likely been paid but in the grand scheme of thing the priority is the rig whether it's the one eni are using at M'Boundi field or another one. I really hope it's the new rig that eni are using and not another. If it's another we may have another delay.

Oh my god... you being an idiot. When was that rns? You do know we are in charge of the field we are the operators not snpc. We bought the rig equipment and they owe us for that, for all we know this is settled. You making something out if nothing here. Company yesterday said snpc are very supportive partners...

Snpc have always paid their share of the cost, they also had 44% stake when PK were the operator, they never had any complaints. David has said snpc are very supportive.

Jim Do you expect everything to come free, they have said they have enough to drill well 103 the game changing well, but they will need cash to get this in production and will need rig for well 102 also. Worth noting they don't need to raise millions. My reckoning they have around $3.5m-$4m in bank another $1.5m maybe.. I think it's good value, but that is me...

http://www.valuethemarkets.com/index.php/2017/12/22/shareholders-put-questions-aaog-exec-chairman-david-sefton/ DS: All the executive directors have had their salaries maintained at the reduced rate set out in their contracts because production targets have yet to be met. No other ex gratia payments have been made, and outstanding consultancy fees of £90,000 each have been deferred indefinitely pending a substantial increase in production. DS: AAOG has identified the rig which it considers to be most suitable for drilling TLP-103. This rig is new and has been further upgraded by the current client, a major international E&P company. We have been assured by both the rig company and the client that it will be available in January. We have a very good relationship with SNPC and they are supportive of AAOG and its plans for Tilapia. DS: In our recent RNS we confirmed the working capital position, with enough capital allocated from the IPO to drill TLP-103 and cannot really add to that here.

They have been given assurances from rig operator and oil company that rig will be available in Jan... So drilling in late Jan or early Feb..

Itsgambling There is no update due for rig next week just the update on the license extension. Aaog have been quite clear that the large oil company will complete drilling in Jan and they won't sign rig unless it's guaranteed. I get the feeling the last time in Aug the rig wasn't guaranteed and they got caught out, this time it won't happen...

Yes it's gambling not like those fantasies like "this is a wildcat drill".