RE: AAOG Investment Case10 Jun 2019 13:13
Woody,
With regards to the CPR, you are probably right with that it is never incomplete as it's a living document. However, when the oil started seeping out of 103C, and AAOG had to RNS that important info as it being Djeno oil, a CPR just based on the other reservoirs became irrelevant so what was the point of incurring the cost of completing it (it was not complete at the time) and RNS'ing it.
It is a bit lame though to read weeks after informing the market that you will have the CPR ready by such and so time that you cannot complete because data is missing. If it is referring to license and shareholding date then fine, but data missing on the reservoir should have been foreseen in the checklist at the start. So either AAOG missed a trick or LSenergy missed it.
So, you may feel there is some sinister play behind the scenes, and I do agree this is far from 'spottless' the way this communication has been handled, it seems to me that the company has just been overtaken by it's own results and has scrambled to cope with that.
MS