Member Info for spike912

Soooooo original and predictable, at least think of something new! Funny how new people pop up on their high horse on these boards without reading peoples history

Well I think that’s pretty obviously TT, I could have made that up, if that’s all “he said” I’d wouldn’t be wasting your time

Docit fingers crossed we wake up to a red dot and some good news for aaog for once! Good luck

But the provision of set off still needs to be applied within the contract Certainly within my own business we always ensure set off does not apply (for obvious reasons) and lawyers love to delete or add a clause to that effect. I have a great deal of experience in this area Anyway it will come out in the wash at some point no doubt Let’s see if DS delivers the CPI tomorrow as if he doesn’t that will be me done with AAOG

0.95 are sells

Skittish sadly it’s not that simple Contracts do not work on that basis. If no set off provisions apply you can not hold back money if they have completed their contracted works regardless of issues in the interim. Set off is a specific provision within these contracts and it’s either selected to apply or not apply. I agree you version is common sense but sadly law isn’t always common sense based

Wildfire, it’s only my gut feeling as the closed question was asked twice and answer avoided and subject changed and asked again yesterday and not replied to. I could be wrong if course

The issue isn’t what they owe imo. The issue is have we withheld payment because 1) we are not legally allowed to and have no grounds to or 2) we are playing for time on funds Generally there are two options to withhold monies, either via set off provisions whereby monies are withheld pending a “claim” as we have here, ie setting off your loss against what you owe the contractor Or If there are no set off provisions you need to pay the bill in full and then launch a claim for damages after the contracted works have been paid in full. Effectively you pay the works as they have completed the task ie the drill, any claims (consequential losses etc) are then dealt with as separate claim If the later was the case it would explain the rumour as to why SMP are suing AAOG as they have breached contract on payment provisions Either way, it’s becoming very messy (and likely costly) which we were not led to believe. Maybe this is why we can’t drill again in April? Is this the reason for the delays in production? Does 2+2=4 for once? We will find out soon!

My feeling is we are short on cash, and have used the rig failures as negotiations over payment due to a lack of funds. Obviously it would be dependent on the fact if the contract allowed for “set off”, so we do not know if in fact AAOG are in breach of Contract and are being sued by SMP. However it does make you think, given sells offs, and drop in share price. Something certainly doesn’t feel right that’s for sure, given we were led to believe it’s a simple recovery of costs all agreed bar the details. Interesting times

In regards to the twitter rumour over court action, I did have contact with Dave and this was his response “Much back and forth between us and them as we are still trying to recover all of the losses caused by their rig failures and have withheld the final payment pending settlement (that final payment is a lot less than they owe us). We’ll see how it pans out, but I’d rather be us than them in the negotiation.” Read into that what you will, but it’s far from black and white and there clearly is some merit to the twitter rumour. Half facts? Who knows I did ask if we were still on target for CPI this week, and it doesn’t appear likely which could be another bloodbath tomrorow 50/50

For me anything under 3p will be a disappointment given losses recently. If this comes good, I have UJO left and after these two I’m out of aim....had enough now

LeMajor you could be right, who knows! I guess I’ve had my fair share of “lates” with Sefton over at AAOG lol. Hopefully DW will do us right Just wondering if ASX will get the news before us or if they announce on LSE first

I think we are a little way away from news yet imo. Given it’s only been 3 weeks since RNS, so to finalise DD and have legal papers drawn up ready to notify the market, all in 3 weeks is a tall order imo. Personally I’m thinking very end of June maybe early July These things don’t happen overnight

I have it from DS

I know they have issues with SMP so Twitter was right in part. AAOG have withheld payments so big disputed by sounds of it and SMP appear to be going after them for none payment

Something not right for a share to continue to drop with sell after sell day after day when expecting positive news (apparently)

I just hope DW can stick to the June timeframe as that means VERY soon. Would have thought market would have been factoring something in at this stage as it does sound by all intents and purposes it’s a done deal Expected us to be a lot higher than 1p at this stage by hey ho patience will hopefully be rewarded

Can’t see that. Can you post link please

If we see another big delayed sell it will certainly be squeaky bum time

Sardy agree. Then you have the likes of BPC which was at nearly double our mcap and haven’t drilled one well, ever and dilute nearly monthly Got to laugh sometimes or you’d cry