Firm date for results -By 14th June7 Jun 2019 09:53
I would personally have preferred the company to have issued the CPR during the second half of May in line with the date set out within the RNS dated 25th April. The uncertainty around this has caused the recent SP drop.
However, delays within the Oil & Gas industry are not unusual. Small cap oil and gas investment is no place for the inexperience/nervous PI.
What is also unusual is that we actually have in AAOG a small cap oil and gas company that has vast reserves of oil ( 300 million barrels + ) in a location where the extraction costs are minimal.
The profit margins moving forward will be huge. We are due to commence production on two wells within the coming weeks/months that collectively can produce 1,500 BOPD and 5,000 BOPD which equates to nearly $450,000 per day revenue at current prices.
We also have a 25 year licence extension and are receiving over $ 650,000 per month revenue from SNPC ( do not let anyone tell you we need a placing anytime soon ). Should the company require funding in the future they have confirmed on more than one occassion that alternative non dilutive sources are the preferred option.