Member Info for pawnsacrifice

angela you seem to be missing that drilling 104 isn't their next priority. Developing 103 is...

Accordingly, the Company will now plug back TLP-103C to the Mengo and then flow test and produce from the Mengo reservoir and seek to co-mingle with the R2 reservoir in order to enhance and optimise production of this Well at high rates. During this time the Company intends to upgrade the existing topside facilities and look at options of direct pipelines to the Coraf/export terminal in Pointe Noire.

If they produce from 103 at high rates that should easily give them the funds to also enhance 101 as planned and then perhaps debt finance will come into play.
Perhaps not but with "high rates" from 103 alone low level dilution won't be the only option not with such promising noises about the licence too.

Not just meeting they've got a corner in the office. AAOG must be doing something right.

Still can't see where this 10m debt facility talk has come from? Nothing at all by googling was it just a twitter rumour?

The 10m debt facility is that in Finncaps note? Sounds darn useful to have.

The licence is the biggie imo. No point having all this oil and no licence. The letter of intent was I believe well timed.

and they've got a plan B for early cashflow that sounds not half bad imo.

While this Well will produce from the Mengo and R2 rather than the Djeno, we have now encountered oil in all the targeted horizons, with a total combined oil of at least 56 metres, including a combined 44 metres of oil in both the Mengo and R2 and across discovered additional reservoirs. We now plan to bring TLP-103C into production, and thereby increase production and cashflow at Tilapia such that this asset will become cash generative in the very near future.

Its ok so long as they're not looking globally because the weald has disappointed.

You'll only lose your savings if all this..

Anglo African Oil & Gas plc, an independent oil and gas developer, is pleased to announce that Schlumberger wireline logging completed on the TLP-103C well ('the Well') has confirmed multiple discoveries at its Tilapia licence in the Republic of the Congo. Wireline logging validates the initial results identified during drilling the targeted R1/R2/R3 and the Mengo reservoirs and confirms oil columns amounting to an aggregate of 44 metres across the identified horizons.



· 26 metre oil column in the Mengo identified in sandstones interbedded with claystones between 1874,8mMD and 1900,8mMD

· An aggregate 13 metres of oil columns across the new horizons identified between the R3 and the Mengo horizons in three layers of sandstones between 1473mMD and 1685,5mMD

· 5 metre oil column identified in the R2 reservoir between 1282,7mMD and 1287,7mMD in line with the TLP-101V well located in fine sandstones

· Modular formation dynamics tests showed that the R2 reservoir is not depleted, confirming an onshore hydrocarbon system underlying the Tilapia licence area

· All three discoveries are of Early Cretaceous (Barremian) age

· Schlumberger wireline logging was completed in the entire 12 ¼" section of the Well and further confirmed by a petro-physical interpretation (CPI)

and/or the predicted 400Bpd from 101 come to nothing imo otherwise its just patience.

So maestro you're predicting 400BPD from the mengo, 400BPD from 101 and at least several hundred BPD from the new layers they've found?
What marketcap should that be before Djeno is taken into acct?

At this share price level I'd say that depends on the news that comes out with it.
What if Djeno doesn't flow but it looks like the mengo and several other layers will and at decent flow rates?

Tend to agree and believe I put a link up to BLOE on FRR's board a while back.
Hope proactive's piece is received better than my "tip" was.

Sidetrack started. Targeting 650BPD at W. Rustavi alone by end 1st Quarter.
Under £9 Million marketcap. lol

https://www.investegate.co.uk/block-energy-plc--bloe-/rns/sidetracking-operations-underway-at-west-rustavi/201901230700048183N/

Love the "we can all assume" marineville. Always trying to tell peeps what to think eh?
Not sure Sefton would agree the co's in trouble without Djeno, think a sell off if it came would be an opportunity myself...

David Sefton, Executive Chairman of AAOG, said, "The confirmation of a combined 44 metres of oil columns across multiple horizons, including the discovery of additional reservoirs is a fantastic result for the Company and exceeds our expectations. Subject to the results of flow testing, the Well has the potential to provide AAOG with a major step-up in production and cashflow and marks an excellent start to the Tilapia field development programme. Furthermore, with the geological model proven we look forward to the resumption of drilling at TLP-103C targeting the deeper Djeno horizon, which based on the production rates achieved from this reservoir on neighbouring fields, has the potential to be truly transformational for AAOG.

With operations on-going and the resumption in production at well TLP-101, which is estimated to have the ability with water injection to produce up to 400 bopd, these are exciting times for the Company and the Board believes AAOG is on track to become the highly cash generative oil and gas company we set out to build. Finally, based on the success of this well thus far, we will, in the near future, commission work to update the Company's estimates of reserves.

Can't be too long if we've had spudmud day I'd of thought?

So basically when you complained about everyone having the right to an opinion what you really meant was we all had to share yours or get slammed down.
101 will flow its been difficult granted but they always had low expectations for it and it was always a learning process for them. Investors knew that regardless of the disappointments along the way.
Recent developments there ave been more positive however and it now looks far more likely to do better than expected. Realise you're not an industry man so can't verify that one way or another so will take your replies as bearish guesses fas the evidence would seem to advise.

So long as they do update on positive plans for the menga at the same time imo yes and if they update on plans to move forward on the plans for 101 too then even more so.
Of course if the Djeno does come then boom time as not many seem to expect it. (see earlier bearish posts)

When Djeno flows as I'm sure it will then yes there will be a massive re rate as the bears and traders aren't expecting it to come in.
If it didn't flow then there may have been a penny dip, problem is the RNS is also likely to update on plans to flow the mengo instead and if thats anywhere close to 500BPD then the sp will jump again as soon as the short termers offload.
They won't get back in again and will most likely become haters esp if plans for pushing 400BPD out of 101 are moved on now theres no problem with proximity to 103's works but for yhosr that hold it won't matter anymore than the haters the stocks picked up already as the 10p sellers try to get back in.

Would be great to see 101 gush! Thinking about it if they do get anywhere close to 400-500BPD from 101 and 500 from the mengo then the Djeno just cream on top. Heck of a lot of cream but cream all the same.
Isn't UKOG c.£65m with 350BPD flowing? Really shows the undervaluation here if the plan develops as expected and confidence returns

Disagree, obviously its not the main play but if they can install a pump into 102 and use it to push this 400BPD out of 101 it'll be a decent cashcow imo and the 55BPD they're producing from 101 already should go some way to help pay for it.
Better than having all the eggs in one basket imo.

Good luck with your choices Johnny at the end of the day we all have to decide for ourselves.
Hope you don't mind if I'm happy with the mega hints/news we've had today. Looking forward to Djeno whenever its reported too.