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The Tunisian assets appeal to our game plan specifically. They are safe low risk production assets mixed with more blue sky exploration. At this stage they woulnt appeal to the big boys but after some organic low risk workovers/drills plus the odd exploration well and it could well appeal to them. We are looking at early stage assets which can be easily developed into something special but with a safety net if the exploration fails.
JB has spent years studying Africa and knows where the clever plays are imho
Bet you can pick some holes in that Irish .... LOL...!
TF, well theres lots of info out there to suggest AAOG is still trying to secure ATOG, theres many hints and similarities, it's not just clutching at straws.
However, if we are not going to take on ATOG, dont you think JB will be taking on some more assets. His main objective was to grow the company through purchasing distressed assets??
Beyond that I would probably suggest Angola, Algeria and Gabon for future assets.
However, if we could get these Tunisian assets and some old producing fields in Congo I think that would provide us with enough size and diversity to hit the big time .
I know it sounds like we are all moving on from Tilapia but that's not true. Tilapia is an excellent asset and I'm sure will be huge alone but JBs skills are in hunting out / securing new assets and putting them into operation. So that's what I believe he will do as he wants to build a £500m MC company, which he wont do sat waiting for 103c sidetrack alone .
Just my thoughts which I'm sure will annoy some on here as its "let's be disgruntled with TIPTOP day" ;0)
Regards other assets, well I know Congo has some proven acreage with booked reserves which was handed back to the government years ago. I believe these blocks are available if a company can prove they have the funds and commitment to bring these fields back into production and the government would be very supportive of this. Possibly something that would interest JB as new technology/clever management/ higher oil price could allow these fields to be very profitable in today's market. Just a thought as this acreage would not require initial purchase funds so an RBL maybe all that's required !!
"It"
Tunisia
Adam
ENI operates the Adam Block, an oil and gas producing block located in the Ghadames Basin, a prolific hydrocarbon area. There are 10 producing wells in the block.
Bir Ben Tartar
The Bir Ben Tartar Block is an oil producing block located in the Ghadames Basin. The block has 15 producing wells and 1 water injection well.
Yasmin
The Yasmin Block is located offshore in the Gulf of Hammamet and is 20 km from the Cosmos Block. This block has estimated 3P reserves of 6.5 million barrels of oil.
Cosmos
The Cosmos Block is located offshore in the Gulf of Hammamet. This block is estimated to have 3P reserves of 11.2 million barrels of oil and 3.9 TBtu of gas.
Jenein
Block Jenein is estimated to have oil of up to 100 million barrels. In 2018, the Company completed 3D seismic acquisition activities and obtained an extension of the exploration permit until 2021.
Sud Remada
The Company has identified 14 prospects with total prospective reserves of oil in place of 748 million barrels. In 2018, the Company completed 2D and 3D seismic acquisition activities. The data is being interpreted to determine whether to extend the exploration permit.
Borj el-Khadra
The Borj el-Khadra (BeK) block is located in South Tunisia. The operator, ENI, is in discussions with the Government to extend the exploration period.
Hammamet
The Hammamet Block is located 25 km off the coast of Tunisia in the Gulf of Hammamet. The block was relinquished to the Government in 2018
You cant just take money from a business to start up another budiness without the parent company having some legal leverage over it. If we paid for DD then the management decided that business was not for us, clearly they could privately pursue said business. However, they cant use our money for DD and set up funds then keep the business for themselves.
When DS left, JB said it was because no further placement funding was required (or similar).
ATOG has been called that so it has a connection with AAOG, has the same corporate ID and same business address. Not really sure why people think it isnt coming our way ???
I would think it would be a legal necessity to return the monies if the deal completed otherwise it could look very messy later imho
Pretty clear to me from that RNS, once ATOG is funded the monies would be returned, maybe even with a little interest ...lol
Apparently so RoJo :-)
You bought in yet??? Great entry price !!
In my view AAOG funds will be kept for AAOG only, all loans for ATOG would be ringfenced for that company. No robbing Peter to pay Paul. ATOG would have to be fully self sufficient apart from the DD costs and startup which clearly AAOG would have to pick up. ATOG would be a subsidiary of AAOG which would own any profits but without the risk if the company collapsed. Hence why this has been set up as a separate subsidiary company.
I have covered all this several times in my last posts
Jamesons, yes you are slightly behind :0)
Yes the Tunisian asset is already producing but more key to securing the RBL for the asset would be the proven reserves which could easily be tapped. JB will have put together a low risk, low cost production plan to get the asset back up and producing well within debt boundaries. Then there will be some blue sky potential from further exploration.
However, I think Private Equity will be tapped for the purchase of the asset and an RBL to drive forward production.
I already posted the link to the latest panoro deal which used private equity and a loan facility for their Tunisian deal . I also think Kapok would be a good company to seal the deal for us !!!!
https://kapokcapital.com/panoro-energy-asa-completes-acquisition-of-omv-tunisia-upstream-business/
I think it's very clear we are about to become much bigger, which is good imho, However....how will it be carried out is the question.
"Anglo African Oil & Gas's growing portfolio of operations in Africa."
Hell, you lot are a barrel of laughs on a Monday morning. So it was quoted in our presentation that our onsite infrastructure would have a replacement value of circa $20m, cleary not today's value but if you wanted to start the business is would need to be purchased .
Regards not owning the land ...really are getting pernickity now.....the fact weve proven Djeno flows and we have a active hydrocarbon system is worth much more than £10m imho.
Also the proximity of our block to MIII just cant be ignored when their last block sold for $3.2bn pro rata
Come on peeps, JB was high ranked in the military and held a very successful position in business. Hes hardly Al Capone!!
Yes indeed Barking but at £9m market cap this has more value for our infrastructure as scrap metal ....lol
The position of our Tilapia asset next to marine III is worth much more than £9m imho, especially now weve proven the Djeno flows..at worst case!!!!
Barking, sister have played this wrong from start to finish imho. Surely you would have waited until spud to sell.
Let's see what this week brings for AAOG :0)
Not trying to be anyone, unfortunately I'm this amazing in real life .... sorry I meant Annoying ;0)
I dont have to stay invested In a company for ever . If the fundamentals change for the worse then I sell up, THATS INVESTING !!!
Anyway, I've given you enough time. You should really consider if investing in O & G companies is really for you, or investing at all come to that!!
Jolly good, you'll be off then :-)
See ya :0)