The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Could it be that the only reason why JB would release such a message at this specific moment would be to put pressure on SNPC ? According to the motto 'you don't want to pay, then we stop everything for the time being and wait and see'. SNPC can't really approve that Djeno won’t be drilled. So far AAOG had to do most of the work alone. Maybe AAOG just want to lure them out of their comfort zone. How do you see that ?
If all of this was known beforehand, I wonder why Miton took that last placing at 5.2p?
And what is TipTop thinking about this mess ?
"The SFP #1 Rig (the "Rig") is the subject of contractual commitments to a super-major which will expire on 30 December 2019. SFP may extend such contractual commitments until (but not beyond) 30 March 2020 and will notify AAOG on or before 30 November 2019 as to whether its contractual commitments have been extended."
With a little luck the drilling can be done faster than expected. In 2 weeks at the latest, we will know whether that super-major has applied for an extension. If not, this means that the rig is no longer needed and will be made available to us. That would mean again that the drilling could start already in at the earliest 6 weeks.... so let’s see what the next 2 weeks will bring
Probably because he just had to leave and didn't want to leave voluntarily!
Djeno results = "Wireline logging confirms the presence of a 12 metre oil column in the Djeno proving a functioning reservoir in this formation in the Tilapia permit area". This is much less than even the low case 50m column in the IPO CPR that gives 2.9 mmbo net.
This is simply not true ! They haven't' even touched the real Djeno field yet!!
The 12m oil column belongs to the most upper part of the Djeno field. That's exactly the reason why they are drilling deeper now!
Anyway, the fact that Milton, who were on AAOG's side from the beginning, further strengthens their involvement is a very strong signal and should put some uncertainty aside.
"Notwithstanding the above, the Company believes that the current price of the Ordinary Shares significantly undervalues the Company and its prospects, given the discovery of oil in each target horizon of the TLP-103C well. "
Well, ask yourself whose fault this is !
My hope now is that management has learned from their mistakes, and this PR actually shows that communication has indeed improved a lot
Still nothing about yesterday's TP Evening ?
what did DS say again in his presentation just 2 days ago :
"I mean the biggest risk has always been finding the damned oil, right? When you find the damned oil, EVEN WE CAN'T SCREW IT UP FROM HERE, right?"
Well let me tell you Mr Sefton : Oh yes, you can, you can even very strongly :-(
At the latest since today the whole management has a credibility problem! We shareholders have now been put off for the repeated times with false promises. If Djeno was not such a world class oil field, I would have capitulated long ago...
I love David’s sense of humor… listen to the end of his presentation:
…most of the big risks have gone….frankly… I mean the biggest risk has always been finding the damned oil, right? When you find the damned oil, EVEN WE CAN'T SCREW IT UP FROM HERE, right?
Since the drilling had to be stopped shortly before reaching the Djeno field (due to technical problems with the drill), resuming the drilling actually means that the costs will be very low and the drilling time will be short (except AAOG would even want to reach the Vanji field).
Opinions on this ?
Just to remember, production plan reply from DS " Yes, the plans are very close to finalization and I would expect that to happen the week of the 13th and we can then update the market.” + about the CPR “the publication of the CPR is now scheduled for the second half of May”… So it is quite possible that as far as tomorrow or the day after tomorrow we'll already have D-day!
Listen to DS potcast : **************************************/blogpost/147789/
DS : if we drill in August... by the end of the year....Djeno in production as well !
amazing presentation!
ok... I give up :-(
replace ***** with www.**********.co.uk
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what an amazing presentation! Holy sh..t!! I'm so glad to take part of this coming success story! AAOG will rock, for sure.