Member Info for theiceberg

It was t123

"Another fund raise at 10p at this rate"

I would classify the above as an unsubstantiated rumour. Wonder who said it..........
Particularly when at the time any fundraising via a placing would be illegal.

Yep I did some checking of the cpr this afternoon. I was very surprised by him saying 300. A new cpr would be very informative.

more bull.
Are you seriously saying Aaog arranged the placing in November for jan ?

Your making yourself a joke I am afraid.

Major issue with this bull

THE COMLANY CANNOT HAVE A PLACING WITHOUT SHAREHOLDERS. CONSENT.
It's written into the articles.
There can be no sudden placing..
Complete bull

100% agree. Estimates to reach djeno straight
102.....70-80 days but useless
104.....50-60 days
Caroil 5 40-50 days
106.....20-30 days.

topside. .might just be better choke and control then choke back to existing production facilities.

Pressure and scale of choke back on 102 not to mention bop were probably not good enough on 102 and connecting facilities.

You've got smp 104 and 106. 104 isn't good enough 106 will be costly imho maybe a day can be done. A few weeks to get there from Kenya thiugh .
What I like about caroil 5 is that the parts are in Africa and it's what eni e.g. Have used to drill into djeno onshore. so will be experienced.

Can be used with minimal expenditure, it won't be all the money up front. as soon as we get 103 producing 1m a .month profit from feb imo as the flow Testing will go straight into the tanks and then by lorry. we can then we secure the rig. and it would only take a week to get to location.
We do need to upgrade the flipside but haven't get been told how, how much of his long.

're funding..the bid have no authority to do another share issue. It really is that simple. They would need to pass another resolution. There are many ways to find.

So much rubbish posted here.
Anyway hope we have a good day. and even better some news on flow testing. Which should start as early as this weekend.

Can be used with minimal expenditure, it won't be all the money up front. as soon as we get 103 producing 1m a .month profit from feb imo as the flow Testing will go straight into the tanks and then by lorry. we can then we secure the rig. and it would only take a week to get to location.
We do need to upgrade the flipside but haven't get been told how, how much of his long.

're funding..the bid have no authority to do another share issue. It really is that simple. They would need to pass another resolution. There are many ways to find.

So much rubbish posted here.
Anyway hope we have a good day. and even better some news on flow testing. Which should start as early as this weekend.

There are two bank lenders with a specific aim of lending to small Congo oil starters looking to create a small farm of wells one already lent 10m this month in such a situation.

I agree that David needs to get the plans and detail out.
But malcy is just sore because he didn't pick it.

Indeed. Fcap put commercialisation of the djeno with a multi well farm with 3000 bopd per a well at 50% hence their 52p target. That's without a licensed extension..
With a !licensed extension this rises to £2.50p a share. When it happens it rises to £5 a share.
I'll take a 50/50 punt on that in the next 12-18 months.

Below 11.2. some robbed folks selling at 10.3

Yep ours is 12m with 4m transition and then further layers they couldn't confirm as oil due to contaminated mud tanks and then further expected sand layer below this.
But 2000bopd from djeno already discovered is very likely. With an oil rim it's not the size of pay per se, as the pressure of the gas pushed the oil out.Hence even 100m columns only produce from 20m zones.
It's like kimmeridge in the UK where you perferate a 300f column.

I could have put thickness of investors but......
Anyway eni have a 20m column of djeno.....it flows at 5000bopd.

Pretty sharpish.

normal Aaog trolls (wonder whether they have a secret handshake.
It's funny looking back through their posts. some brought at 8-9p most sold....If only they actually held.

Flow test prep should start next week. Not 6 months.
In Feb Aaog will start to have much needed money rolling in.

100% successful drill
Every area hit had oil, not water, not gas but oil
The appraisal sections mengo and above will have a short flow test and then straight to production. Finncap have a conservative est of profit after tax of 1m a month. Exc.New zones
A 10m debt facility is expected to be secured against this.
Sp target of 52p released.

For 104 - caroil 5 rig is available in a few weeks and is situated in pointe noire just down the road. Similar but over twice the power and ability of the smp rig. It's been used by eni total etc.
Topside should take 3 months to get into shape for 104.

Having yesterday's rns leAked didn't help the sp. We ended up with lasts weeks big French leaky buys being mostly sold as well as the 5-6m of trades in the hr or so prior rns release. Add in opportune traders and we end up only 10-15% up

Just like with every Aaog rns with oil the bigger rises come in the following days imo.

have confirmed to clients that their SP target has raised from 32p to 52p just from this RNS. This does NOT include the new licenses that will take it to over £2

#Aaog pardon the language but...f... me sideways. Thats a cracking rns.
Licenses until 2042.
Too much oil from djeno for topside to cope.
103 being put to production.

Onwards £1 with probably 2-3 week rerate

I agree with that we are awaiting snpc approval
Aaog will need to say what's next after the rns and wire logging.
SNpc will want inc to say drill to Vanji.
Aaog won't.
Aaog will want some comment 're funding if Vanji required. Also possible license renewal now.

Also snpc might have wanted Aaog to drill 100m into the layer below djeno and above Vanji to confirm that part of geo model.