AAOG Dividend policy....24 Jul 2018 09:21
Don't forget AAOG's very generous dividend policy from the admission document:
http://aaog.co/archive/Admission-Document.pdf
12. DIVIDEND POLICY
Following Admission and Initial Completion, the Company’s dividend policy will be to distribute free
cash to Shareholders through regular dividends once production reaches a sustained level of 1,000
bopd and provided that oil prices are not less than US$30. In such circumstances, the level of the
dividend will be at least 50 per cent. of net profits (subject to the availability of distributable reserves).
If production reaches 5,000 bopd and also provided that oil prices are not less than US$30, the level
of the dividend will be at least 75 per cent. of net profits (subject to the availability of distributable
reserves).
Should the workovers and drilling programme not be successful, there can be no guarantee that a
dividend will ever be paid.