Member Info for Strongman

https://twitter.com/paul_rx8/status/1080387360708284416

Agree, looks like a large buy order is again working.

11.40 bid now, much better.

11.55 ask now, test of 12's

Good morning and hopefully a continuation of where we left off in 2018 close. Everything to look forward to here in the coming days and weeks.

11.25 mid close, keeps us on the rise. We have all seen what this can do.

Have a happy new year all.

I remember spike, that was terrible news and at a time of year that you do not want it. I am so glad this one is coming through for you and all of us now. At least while your waiting for that one, this is pulling in the money for so.

Very possible spike, they will take a breather for a moment before next wave I guess. We still got plenty of time left in this morning session.

What a great day here so far, big volumes as well. Well done for the ones who held.

Same person who shorted it last week at 10.50 and £1500 a point, that got burnt out for him.

From Friday:

https://twitter.com/AIM_messiah/status/1078701400354447361

Logging start Friday, so I expect a RNS this week, any of the final three days this week are favorites for me. It is half day today and closed tomorrow, so if anyone wants to be sure, they will need to position in before today's close imo.

Not sure well see any dividends until at least three new wells are pumping. As the recent timeline on the request for funding shows 6 months. Reading between the lines, I see a forward plan developing here for 2019. The well looks to be a success already, just from the pay zones that are showing on the initial hydrocarbons. What we do not know is djeno or even vanji for now.

If either come in as well or not, the results so far give a good support to drilling a further two wells close to this position, hence the 6 months timeline. Once flow rates are done and this well is in full production, I see no issue in the company getting a debt facility to get the next set of wells drilled.

Give it a year, next christmas we may well be sitting on a much higher mcap and revenue / profit stream.

I will get my last top up early tomorrow, and that will be me ready to see this grow in 2019.

The deepest sedimentary formation in the Tilapia area is the Lower Cretaceous (Neocomian) Vandji
sandstone which overlies the igneous/metamorphic pre-Cambrian basement. This is overlain by the turbidite
shales and sandstones of the Hauterivian Djeno Formation. Above the Djeno is the regional oil source rocks
of the Pointe Noire Marls.

The most productive reservoir in this part of the Lower Congo Basin is the Mengo sandstones in the onshore
Mengo/Kunji/Bundi (MKB) fields located 30 to 40 km to the southeast of Tilapia (Figure 2.2). The Djeno
sandstones have been in production since 2013, and this reservoir is emerging as a potentially prolific
production horizon especially in the recent gas discoveries with oil rims of Nene-Banga and Litchendili and
other discoveries within the Marine XII licence operated by ENI. Testing with or without fracking has achieved
over 5,000 stb/d from wells in this area.

http://www.aaog.com/archive/Admission-Document.pdf

jester16

It costs the same amount to side track and drill deeper, then to drill a fresh new well. The pipe and casing on old wells may not be in the best condition either, over the years you can have faults on formation and casing. Remember that the old wells are over 10 years old, and a lot of tech has changed in that time in the o+g industry.

The benefit of a new well is you are intersecting a virgin pay zone and pressure. Each horizon is new on a new well and you have the options to perforate from the bottom up through the life of the well.

For example if we hit djeno, then perforation and production will start there until it is exhausted, then it will be perforated in mengo, then horizons above and then R zones over the years. That way you are getting oil from all horizons in a controlled manner.

In this modern age, forget the old wells, save for a small amount of work overs to get a few bopd added for free to main export. New wells, new formations, new pip, new casing, modern perforation and lift. If they want to become a major on this field, this is the only way forward.

Tilburn

The scale up potential is enormous here. Even if we do not hit djeno on this well, the updated geo information from this well will help us hit it on the second or third well imo. To date the geo has been incredibly spot on, this means they have a good idea where the djeno is. This well re-position now means on the geo alone they estimate to hit the apex of djeno. Going by the performance so far, I can see them hitting this horizon.

It is only half a session tomorrow, but lets not forget the last half day last week which closed out at 8.80 and re-opened the next full day at 11.20.

Markets are on low volumes, with a lot of cash taken out pre-christmas as usual. Given a lot of T positions also get closed down during the holidays as well. Every new year return to the markets is usually met with a lot of cash returning to AIM for the start of re-investing for 2019. it will be a busy three days next week when it re-opens Wednesday. Therefore, tomorrow half day may be the last chance for the current prices imo.

You have answered your own question jester16

''Are the other 2 wells just completed in r1 r2 zones if so gla.''

The current well now has 7 horizon shows to look at instead of only three from the older wells. But the biggest difference so far is mengo in the new well, with its 50m sandstone showing all pay zone:

''The Mengo is the second of three horizons targeted by the Well. The top of the Mengo was picked at 1,856 mMD and formed of interbedded sandstones and claystones. This was in line with the Company's geological model. The top of the Marnes de Pointe Noire, underlying the Mengo, was picked at 1,960 mMD and formed of dark claystones.

The Company has observed oil and gas shows throughout the entire 50m of sandstone beds encountered. Hydrocarbon pay thickness will be confirmed by wireline logging data and pressure points''

The position of this well location looks to have hit the mother load to me, and can not be compared to wells at another location that were drilled many years ago.

Rough:

Wire line logging running now and lets say completed end of the week coming. Re-start drilling to Djeno will take another week to reach. Run logging of Djeno and reach TD. So that is two weeks roughly from now.

Once that is done, perforate Djeno and flow test will take another 3 days odd, and there you will have the first flow results.

To note, once logging results are in for each section, they will have a pretty good idea of potential flows via pressures measured.

Question: Assuming that TLP-103 proves to be successful, could you describe AAOG’s future strategy and any planned dividend structure if the company hits its >1,000bopd production target.

DS: On TLP-103 being a success, which would be the case on either the Mengo or the Djeno being brought in to production, the strategy is to roll out a full field development plan for Tilapia, as well as looking at nearby assets which are complementary and can be brought into production in the near term. In such circumstances, AAOG will look to acquire scale and cashflow on a rapid basis, while maintaining a focus on the Republic of the Congo and keeping all options open as regards the delivery of value to shareholders.

The intentions on dividends have not changed from those set out in the offering circular which is that, should the drilling from the Mengo and/or the Djeno be a success, then the Company would distribute free cash to Shareholders through regular dividends once production reaches a sustained level of 1,000 bopd and if 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).

http://www.valuethemarkets.com/index.php/2017/12/22/shareholders-put-questions-aaog-exec-chairman-david-sefton/