Member Info for Strongman

Yes, it is the lowest bid of the last three trading days before request to convert.

''MSP is defined as the lowest closing bid price as for the three consecutive trading days ending on the day prior to the Issue Date.''

At the moment, it is todays bid of 6.40 that is the lowest of the three days now, so if they want to take advantage, they should convert in the next three days.

Not yet they have not, so he is correct, he is also correct to say they have not forward sold any either. But were they behind the short position to get the 6.50 print today, well soon find out if the conversion slams in the next day or two.

I do not blame them really, its a matter to getting many more shares at a low average, which imo I think they will actually hold on to.

Just another day on AIM lol.

MSP is defined as the lowest closing bid price as for the three consecutive trading days ending on the day prior to the Issue Date.

Conversion tomorrow or Monday.

Well they got the 6.50 print on the book for the day at 16.29pm. Some naughty business, but hey ho this is AIM. Now it is printed, I expect a push up from the off tomorrow myself and a conversion Monday or Tuesday to take advantage of today's three day low print.

Well if that was not a manipulated close, I do not know what was. I had a order at 6.50 ask that did not execute and it was on a limit order since morning. Be back in for it tomorrow for sure, but got a feeling they just wanted a specific close and print today, which they have got.

News expected Monday morning (IMO) so whatever is going on will be completed tomorrow for sure.

1 - Firstly the CLN has not yet been converted.

2 - Secondly the owner of the CLN has confirmed that they are not selling at the moment and have no intention of selling at this low price in a falling share. They don't want to have any negative affect on the share price.

The conversion is not the issue here, this part from previous post is more important:

''Secondly the owner of the CLN has confirmed that they are not selling at the moment and have no intention of selling at this low price in a falling share.''

It is quite clear from that information from DS, that Sandabel are not converting / selling forward. This means they are happy enough to see the conversion into the rise hopefully, which again means that the spot price of 10.136 may come into play in the future. Most of the predictions of selling forward or conversion have been done at a presumption of converting at 8.3 or as some say 6.60.

I now think someone is piggy backing this CLN to benefit a position of their own. Lets face it, if you are a short seller, you would want to make the CLN holder the pure reason for the drop and scaremongering to achieve that. When a high board member goes out of their way to confirm its not the CLN holder at cause here, then I intend to believe them.

This was received 13.32pm today. Now if David gets the drill rig working this weekend, or should I say gets the two day start before next week, I will be very pleased. I am pretty confident of a RNS on Monday morning to confirm this, that and the information just received from CLN holder, both puts it into a bullish position for me.

GLA

Good to hear, so we simply have a short position at play here, on the back of rumors of CLN selling down.

''Am pushing SMP hard, and still aiming to get drilling again this weekend.''

David

Whatever the figure, we can be sure they are getting washed through this week. I would rather they were converted now, then impede the share price once drilling re-starts and the share price rises accordingly. It is however giving some real good buy in prices for those with some powder left. I have just added a few more and taken a couple of long CFD's at the current ask.

Think you will see the games come to a end by tomorrow, some would have gone on a short position with the CLN running as the driver. But they will also close out soon enough imo.

ii) If the plan for TLP-103 is successful, as set out above, the second well, TLP-104 will be drilled in the second half of 2017. TLP-104 is expected to be financed by free cash flow generated from production and, if required, a future equity financing by the Company.



If commercial volumes of hydrocarbons are encountered, EOR techniques, including fracking, steam injection, Simultaneously Water-Alternating Gas (SWAG), acidisation, gas injection, pumping and gas lift, are expected to be used in each of the Mengo and Djeno layers .



The Directors believe that, once both TLP-103 and TLP-104 have been drilled successfully, Stage Two could increase production by up to approximately 5,300 bopd and transform the Tilapia reserves estimate. The increase of 5,050 bopd (in addition to that achieved by Stage One) is based on reaching only half the level of production from each well that has been achieved by nearby operators of the Djeno Sands.

Old but worth going over again at this stage.

Stage One - increasing production up to 250 bopd, securing financial stability in the short term

At current production levels, PK does not cover its costs, although overheads could be reduced to minimise any cash flow shortfall. Existing production can, in the opinion of the Directors, be economically and simply increased: with this in mind, the development plans for Tilapia include two workovers, the first of which is scheduled to take place in the second quarter of 2017, immediately following Admission, and involves the reperforation and acidisation of the R1 and R2 reservoirs in well TLP-102, which will be drilled and then connected to the manifold. The second, which will occur when the drilling rig to be used for Stage Two, below is in place (which is expected to be in the first quarter of 2017), involves the setting of a progressive cavity pump over the R2 reservoir in well TLP-101ST.



The Directors believe that such interventions, for which the Company's share of the cost is anticipated to be US$250,000 (which will be financed from the proceeds of the Placing), may increase production from approximately 38 bopd to as much as 250 bopd. With EOR techniques, the Directors believe that 30 per cent. recovery could be achievable and that both the rate and overall production from this layer could remain increased for many years.



The two planned workovers are an essential part of ensuring that the Company is cashflow positive and of enhancing the net asset value to a level that, in the opinion of the Directors, could equal or exceed the amount of the invested capital.

Stage Two - development of Tilapia to increase production

The more significant increase in the value of Tilapia is expected to be achieved by a new drilling programme into deeper geological structures, the Mengo and Djeno Sands, which Tilapia shares with surrounding fields. The development plan for this drilling programme, which is expected to cost approximately US$6.0 million, is set out below:


i) The first well, TLP-103, which is expected to be drilled in the first half of 2017 and will be financed by the proceeds of the Placing, is designed to penetrate the R1, R2, Mengo Formation and then be drilled further down to test the deeper Djeno Sands. If hydrocarbons of a commercial volume are encountered, the Mengo Formation will be tested and stimulated before being put into production. A similar process will then take place in the Djeno Formation. The Directors believe that production could, if from the Djeno, be increased by approximately 2,500 bopd (on top of that achieved by Stage One).


The Directors believe that there is little exploration risk in drilling the Mengo Formation as the data from earlier drilling show that producible hydrocarbons are present and the reservoirs are charged.

Cash, as they go through each potential oil bearing horizon, they will be able to report the net pay, after analyzing core samples pulled back up the pipe. This is pretty standard on a oil or gas drill. It will inform us basically if there is oil at X level or not.

Once the TD is reached a the end, they will then be in a position to perforate the zones and do flow tests. That will be the point when we will get established bopd results for each zone that hit net pay.

At this point the results of each horizon net pay is the most important for the market. The bopd comes after the well is at TD.

https://twitter.com/Awkturtle1/status/1057680412523352066

http://www.aaog.com/content/investors/media.asp

32.00 into the vox interview

One of the recent interviews mentioned reporting on each zone, and also confirmed by some shareholders at the time via email with company. Will try and dig it out.

I think the opposite, it is actually well primed for the christmas period. Provisionally I have penciled in oil show reports for R1/R2 around 5-7th December and Mengo around the 10th - 14th December. That is bang in the right spot for Christmas cracker earners.

It looks like December is going to be the month for AAOG.

Hopefully well get a large delayed print on yesterdays action come through soon. It looks like its in the last throws now, so close to re-start of operations, will see positional holders start coming in.