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Thanks for the post Atrebates.
Hopefully you haven't sold here just before they RNS a positive outcome for their Egyptian assets only to buy into a spike on UJO.
That would be oh man rather than amen I guess.

Are you short Gadzuric only never heard of directors on AIM buying quite so many shares before a placing??
Can you point to one to confirm your theory?

Management seem very confident. Bout time the market picked up on this one . Seems determined to be the next recovery play imo.

Slightly more bullish views appearing on some of the blogs. Still only small position here but will consider buying a few more if sentiment continues to improve.
https://www.valuethemarkets.com/2019/07/17/the-anglo-african-roller-coaster-ride-continues-as-miton-ups-its-stake-aaog/

Not going to call you anything Curious just stating that the light caveat you referred to said "the Company may not be able to execute all of its plans as set out in the Annual Report released on 28 June 2019."
which indicates part of the plans may be in jeopardy unless the shares rise.
The fact you choose to claim that automatically means the first part of the plan the djeno doesn't mean you've made the intelligent choice just the one that suits you best to believe.
Call me a ramper if it suits you:it doesn’t make what I have said any less true, or any less significant.

"the Company may not be able to execute all of its plans as set out in the Annual Report released on 28 June 2019."

With respect perhaps you should read the 28th June RNS again Curious. Drilling the Djeno is only the first part of the plan.
Likely they mean they won't be able to prepare for upgrading 101 or the 2nd drill addressing the vandji unless a very good result from the Djeno boosts the sp somewhat to bring in larger payments from this plan.

Do you mind answering my question bennyson. You said a couple of days ago you were going to get back to me with where your claims that Sefton and berwick were buying 11,000BPD for £24m had come from?
It was quite a claim. Be good if you confirmed where you got this from.

SMP re squealing aren't they? Guess they really don't want to pay the $3.1m due to AAOG?

Current status of Claim:

· Following poor performance by SMP in the drilling of wells TLP-103 and TLP-103C the Company attempted to enter into negotiations with SMP to recover some of the cost overruns incurred by the Company. SMP refused to engage in such negotiations.
· The Company therefore launched legal proceedings in the Paris commercial court against SMP to recover costs of $3.1 million relating to SMP's underperformance. The Company has not provided for the recovery of such costs in its cashflow forecasts for the upcoming work programme and accordingly any success in this matter would enhance the Company's cash position.

· In making the decision to launch proceedings for costs against SMP it was considered significant by the Company that:

o It had maintained extensive, contemporaneous technical records of the failures of the Rig and the losses and delays that were caused;

o SMP had put forward no evidence of any nature to suggest that Rig performance was not an issue; and

o Advice from International counsel in London, Paris and the Congo was that the claim by the Company had merit.

· SMP has not launched any claim or counterclaim against the Company.

Time to see how good a Barrister Sefton actually is.

None of that sounds very terrible Steel. He's just not done a lot, can understand that.
Wasn't Egypt in a mess before NTOG got involved? The other 2 partners were arguing costs, one partner left and Matt took their stake but its had to take the long route via arbitration to sort the legacy issues they couldn't find compromise on.
Will be interesting if they announce they have an agreement that allows them to work together and re open the field as it would be a large production jump for NTOG but agree best not to get too excited yet.
Can't help but look and maybe nibble though as the shares are historically cheap and good news may happen soon .

Sounds like they still have the support of the community. PR seems very good..
MIGUEL JUAPE / 13.07.2019 - 05:10 A.M.
PetroTal, an oil company led by Peruvians that operates Lote 95 located in Brittany, Puinahua district in the province of Requena, Loreto, reported that it achieved remarkable results, registering as of last June a daily production of more than 5,000 barrels of clean crude oil, with very low sulfur and heavy metals.
"In this way, the initial production expectations were met for the first 6 months of this year, as a result of the extraordinary performance of all its workers, most of them are local Puinahua workers," the company said......
https://gestion.pe/economia/empresas/lote-95-petrotal-alcanza-produccion-5-000-barriles-crudo-limpio-272998

Isn't the ruling they're expecting end of month? Wouldn't expect that to be late so much as its not in Matts hands.
Funny if they'd rns'd an upcoming Egypt decision a year ago the sp would have shot up. Took too long and market got bored?

Yes of course they can.
The person who leaked the placing certainly did. The selling was immediate and picked up a big head of steam when it was wrongly termed death spiral finance. SP never recovered from it and wouldn't have done regardless of future newsflow. After all who buys in pre death spiral?
T'is a shame they never found the leak and sued them. between them and suing SMP they may not have needed a raise at all.
Talking of which where is it?

Am I reading this wrong from the finals or is there another update I've missed as I've taken it that they're drilling the Djeno then the Mengo once Djeno's flowing to enhance production further?
Haven't taken it as an either/or just a change of priorities caused by the unstable plug and excitement over the Djeno flowing to surface already?

Stage Two - Not only did the drilling of TLP-103C show a 26-metre column in the Mengo Sands (the "Mengo") but also found 13 metres of oil columns across new horizons between the R3 and the Mengo. The current plan is to perforate the well at the Mengo and/or Pointe Indienne R1/R2 reservoir once the Djeno drill has been completed. This should further increase daily production, with a positive effect on cash flows and asset value. Should the Djeno sidetrack be unsuccessful at both depths, the Company plans to perforate the well at the Mengo and/or Pointe Indienne R1/R2 reservoir, as these reservoirs continue to provide the Group with a strong alternative to increased daily production, cash flow and profitability.

The gamechanging reservoirs still there Yin it hasn't gone anywhere. .
https://www.investegate.co.uk/anglo-african-o--38-g--aaog-/rns/final-results/201906280845477995D/
Stage Two - Not only did the drilling of TLP-103C show a 26-metre column in the Mengo Sands (the "Mengo") but also found 13 metres of oil columns across new horizons between the R3 and the Mengo. The current plan is to perforate the well at the Mengo and/or Pointe Indienne R1/R2 reservoir once the Djeno drill has been completed. This should further increase daily production, with a positive effect on cash flows and asset value. Should the Djeno sidetrack be unsuccessful at both depths, the Company plans to perforate the well at the Mengo and/or Pointe Indienne R1/R2 reservoir, as these reservoirs continue to provide the Group with a strong alternative to increased daily production, cash flow and profitability.

No.

SMP's move may be tit for tat with AAOG grabbing their rig first?

exercised a retention right over the Rig which remains at the Company's Tilapia site.

Likely to be 3-4 days wrangling on the boards over whether its good or bad then AAOG will get the £3m.
That'd be nice.

Seems a good update for LEK.
Worth some research imo.

To be fair the rig was a bit of a joke. Having to have a welding crew and workshop alongside it just to keep it running throughout the drill.
Plays right into Seftons expertise as well. Glad to have him around for this one.

Bit early to xall it failed perhaps?
https://www.investegate.co.uk/anglo-african-o--38-g--aaog-/rns/final-results/201906280845477995D/
Stage Two - Not only did the drilling of TLP-103C show a 26-metre column in the Mengo Sands (the "Mengo") but also found 13 metres of oil columns across new horizons between the R3 and the Mengo. The current plan is to perforate the well at the Mengo and/or Pointe Indienne R1/R2 reservoir once the Djeno drill has been completed. This should further increase daily production, with a positive effect on cash flows and asset value. Should the Djeno sidetrack be unsuccessful at both depths, the Company plans to perforate the well at the Mengo and/or Pointe Indienne R1/R2 reservoir, as these reservoirs continue to provide the Group with a strong alternative to increased daily production, cash flow and profitability.

I stated he wrecked the initial deal which was withdrawn after the leak , claim of it being DSF and the immediate drop in the sp which I think is quite fair.

"IT is soooooo disingenuous to imply that the las ttwo weeks of damage done is because of TW"
These are your words not mine and you can keep them thank you.