Member Info for petroleum1

RMP(Red Emperor) went bust after drilling a dry hole in Greenland two years ago and was delisted. They are relisted again as FME(Future metals) on 21 Oct 2021. They are in the process of minig copper in Australia at the present time. If RMP can do it AAOG can do it.

wraith: If I remember correctly that if the licence was approved there was going to some arrangemet in the shares between ZEN and AAOG.

I said before :
"It does not look to me the tax allowable of £42million will be used up with Saltfleetby deal. I think that Sara may have to make another deal in addition."
Today Angus issued a new RNS talking about developing another field Lidsey?

can't access the message as twitter said it is deleted.
The following must be rubbish news:
ZEN issued RNS on 2nd November saying that they raised £3 m by placing 272,727,273 shares. They said the reason for the raise is partly to pay for finalzing Tilapia licence:
" £250,000 - Tilapia II licence, (located onshore Republic of the Congo), development costs, including finalisation of licence award process and employment of operational personnel to optimise the planned beginning of drilling operations in well TLP-103C."

https://www.lse.co.uk/rns/ZEN/completion-of-subscription-for-new-shares-wogmca3j8u5ld5n.html

They also said that they are moving their rig to Africa. Is AAOG partly owned by ZEN?
No it cant be ...it got to be rubbish news.

Irishmouse.
It does not look to me the tax allowable of £42million will be used up with Saltfleetby deal. I think that Sara may have to make another deal in addition.

Revised NPV of Saltfleeby:
P90, NPV10 of £25.4 million
P50, NPV10 of £38.5 million
If you reverse 50% of Saltfleetby above values of P90 and P50 into AAOG you get £12.7million and £19.25million respectively. Taking AAOG shares in issue of 439,958,935, the expected share price for AAOG will be 2.9p-4.4p repectively.

Angus energy(market cap £10m) and who are the owner of 51% of Saltfree gas reservoir issued a RNS today saying that they managed to extend a payable loan period by 6 months. As a result the
share price went up. They could do with £42 m tax allowable from AAOG.

I have just googled aaog website anf got the following.
https://www.proactiveinvestors.co.uk/LON:AAOG/Anglo-African-Oil-&-Gas-PLC/

https://www.cnbc.com/2021/09/09/natural-gas-prices-are-rising-and-could-be-the-most-expensive-in-13-years-this-winter.html

https://www.lse.co.uk/ShareChat.asp?ShareTicker=AAOG&share=Anglo-African-Oil-and-Gas-Plc&thread=A495F694-7E8B-4041-BFE3-FA652A4C9A85&reply=true
Natural gas prices are rising and could be the most expensive in 13 years this winter

WG818
An excellent post. There must be a way to relate this to the Financial Authorities.

I have calculated the present worth of AAOG based on a share price of 0.3p to be £o.1m but as it carries a free tax amount of £42m this make the share price to be worthy of up to 9p. So when the company start to trade again I expect the share price to gap up. Whether I can top up or not remain to be seen.

Proffit
I do not see the difficulty of finding a product or services that make money and reverse AAOG into it. But I think the existing management do not want do that. They want reverse AAOG tax losses into an entity of their own making to keep all the profit for themselves.

In my opinion £42m of tax allowance is almost like money in the bank. This will be useful
for any company with production . Why non of these companies had not engaged with AAOG I do not know. Look at other trading AIM listed oil minnows with market capitalisation of less £10m. There are plenty of them. They absolutely have no assets and no money and they are trading on hopes. AAOG have £42m.

OofyProsser
"And either way, there doesn’t appear to be any value remaining in AAOG itself."OofyProsser
If I remember correctly that you said £42m tax losses is a lot of money. If you fire the existing
management and hand it over to a bank they can find someone who can use that amount. Forgive me for asking this "are you a shareholder ?"

OofyProsser: If AAOG s finished why SEL wants to give 25% of its gas field, or have they
changed their mind of doing this?

OofyProsser:The share price prior to trading was 0.3p. For £8m value the number of shares
required will be 2.7 billions. I thought it was in every body interest to keep AAOG
alive to use its tax losses.

Shares in issue now is 439,958,935. If the share price rise to 2p my calculation showed
the above shares in issue will double for the £8m value.

OofyProsser
"All this assumes the Poundland deal between SEL and AAOG will go ahead, in which event AAOG shareholders will see a massive dilution."
As I understand it dilution involve placing shares on the market for someone else to buy. For a buyer willing to pay money for the share he must know that the company will not fold anytime soon and in fact hoping to make profit in the long run.

Shares in issue 439,958,935. Assume tax losses £40m. Share price would be worth 9 p. Can anyone check the above no. please.