Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Poached from Schlumberger..lol !!!
Are we finally starting to see JB leveraging his contacts in high places. Ophir and BP could well be instrumental going forward imho !!!
"Mark now uses his international oilfield experience and knowledge to support Anglo African Oil & Gas's growing portfolio of operations in Africa."
......."growing portfolio of operations in Africa"
Employed by AAOG 4 months ago
Mark Vallender is an experienced Oilfield Professional providing both technical and operational expertise to small and mid-sized E&P companies that are looking to optimize and expand their current portfolio of oil & gas assets. Mark is a detail driven person who actively engages with customers seeking out novel and exciting opportunities to work together. Before starting with Anglo African Oil & Gas, Mark spent over eighteen years with Schlumberger fulfilling operational and marketing roles at upper management level, working all over the world for customers in Europe, Africa, Asia and North America. Following a successful career with Schlumberger and Add Energy, Mark now uses his international oilfield experience and knowledge to support Anglo African Oil & Gas's growing portfolio of operations in Africa.
Still bubbling away in the background ??
Below are some of the many reasons for the recent rise. We should never have been down to £10m market cap in the first place, pure market manipulation and this is now easily a recovery play to 5p then a rise to 10p on the back of solid news regards re-entry of 103c imho :0)
* Debt free
* Only circa 400m shares in issue and less than 200m in open market
* Money in bank
* Only circa £13m market cap
* Money owed from SNPC and being paid back
* Possible money back from SMP if court case sides with AAOG
* Rich neighbours in New Age who recently sold acreage for $800m offshore Congo
* New Age soon to begin exploring Marine III which our Tilapia block sits right in the middle of
* Sought after Acreage
* Accomplished CEO
* Already a producer of oil
* Offtake/RBL agreement in place whichs provides us with $25m facility to develop Tilapia once 103c flows
* Infrastructure to produce upto 2500bopd now and only 7km from processing plant
* Very low onshore overheads compared to offshore peers
* Stable and willing government in Congo
* Very exciting 103c well re-entry hopefully soon, with very high COS
* Received Letter of intent for new 25yr licence
* All our payzones were laiden with oil
* Djeno reservoir world class and prolific around our block
* Djeno oil 43 API, very popular with the Chinese
* Minimal decline rates
* High pressure gas charged reservoir
* 5,000 bopd readily produced in area
* Several billion barrel reservoirs locally
Just a couple of positives then ;-)
Oh no, the last time Irish got excited he nearly knocked over the rig. Go steady mouse, this is a pivotal moment and .......... ;-)
The Chinese and Russians are all over Africa now though, it's a real tussle for superiority.
It would be nice to see BP move into Congo. That would be very useful for us :0)
Thanks Tiburn, kind of you to say but as you know I spent many hours discussing how fantastic the Djeno reservoir is. Rarely in your career do you happen upon a small cap tapping a reservoir with such amazing characteristics, especially when you consider the Vandji lies below with unbelievable blue sky potential. I cant think of a single negative regards the Djeno as a reservoir and in my eyes it's about as perfect as one could hope to find. All we have to do is tap it, which should be the easy bit now weve proven it holds oil, flows naturally and at high pressures :0)
Morning all, supply will be tight so any news will make this tighter than TIPTOP'S wallet. Nice to see the slack being taken up before the news arrives :0)
Now we get to see which trolls have backbone. The LTH sat tight while they run riot against the sliding SP. That's soon to change so I'm looking forward to seeing which trolls stick around !!!
Mr Irishmouse........you were born on the right track my friend. Good things happen to nice people :0)
It's a common mistake with PI's, getting greedy and not taking any profit, so I think your strategy is most prudent. It's very easy to get carried away and the greed takes over. I know many who have been millionaires on paper only to watch all their profit and investment disappear without selling a single share . I would always advise investors to take at least some profit when it feels right, just selling a small percentage of your holding can be most profitable in the long run.
Your 18p target is less than £80m market cap, that's easily achievable from a successful re-entry. In fact I believe we should hit £50m market cap just on spudding with such a high COS and blue sky potential of 5,000bopd.....which is huge for a minnow like AAOG !!!
Crusty, you know as well as I do that once the good news comes in and the SP starts to fly all the bad times will be forgotten. PIs are Completely fickle and most will actually buy more shares on the way up, which I've never understood. Some feel that they would rather invest more here at 6p once the rig RNS arrives. The rest will be soaked up by rainbow chasers, I have no fear this will be pinned down by sellers once the news comes in :0)
Another point to raise if theres now over 50% of shares off the open market that's without considering PI's holdings. With less than 400m shares in issue and only 200m on the open market, minus PI's holdings, this is now a clear bottleneck once any news arrives or any larger holders want to take a large position. Supply will quickly dry up and the SP will fly on good news imho !!!!!
Skittish, the leak is thought to be from a fracture of the concrete plug and not shrinkage, I've had this confirmed directly from management. Also, we would have known there would be high pressures at depth in 103c as it's well documented that reservoir is positively gas charged by lower gas formations. Management were informed by Schlumberger that due to mudding up the res formation would have been damaged so badly that natural unstimulated flow would be very very unlikely. I'm sure if our BOD thought there would have been any chance of 103 well flowing naturally without stimulation they would have compmeted the well and flow tested. The advice they received must have been resounding regards the likelihood of flow, which was clearly very wrong !!!!!!!!!!
in principle that really could happen because i believe if we had never plugged 103 we could have flowed the Djeno commercially , in fact its clear we could have. However, we cant remove a 20m concrete plug with wireline kit from my knowledge, unless tech has changed immensely of late. Although there is a small possibility they could have cored a hole through the concrete plug to allow sufficient flow to be commercially viable. With high pressures at depth I would be concerned about the safety of such an operation. They may have had some other clever idea to clear the plug but I suspect the sidetrack is still the safest option. It is a real frustration for me they never tried to flow the Djeno in the first place before plugging, its cost us dearly but you have to remember we are working at depths of 2km with no visual at TD so have to trust the tech team/equipment on site, which was Schlum, although their reliability has been called into doubt by the later reservoir reports.
Our well flowed through a crack in the concrete plug at pressure and naturally without stimulation, that's a top discovery in my book!!!!
lets enjoy the blue day and hope for an RNS full of progress next week, whether that's a rig booked or a clever alternative remains to be seen . One thing is for sure......anything less than £25m mc s is an absolute gift at for our current position.
Have a great weekend all and I'm disappointed I missed the fun on Friday but had too many balls to juggle :-(
COdey, we already had a offtake in place to buy as much oil as we could produce. This new facility is an RBL style offtake and that would have taken lots of DD to achieve and not given to anyone. The multinational providing the RBL will be giving us $25m as soon as we begin producing from the Djeno out of 103c. Whatever you may think this is not an easy deal to attain as multinationals dont give $25m to any Tom, Dick or Harry.....especially in current market conditions !!!!
Its non-binding due to the fact we may have a technical issue/accident stopping us from producing.
Well, once we were notified of the $25m RBL I would suggest that shows re-entry is under way. Theres no point securing funding for after he drill if it were months away.
I was intrigued why the rig was not already booked though. JB is a very organised man and has had plenty of opportunity and time to book the rig. It could have just been paperwork holding us back, or maybe we are just looking like we are going to drill to look stronger to a perspective buyer, the other option was when wirelining discovered well could be flowed without re-entry. (Clearly a bit of wishful thinking).
Hes got the funding sorted for after the drill which shows how organised he is so why no rig ???
In the last RNS they hinted they were possibly looking for a different rig, well that's strange too as those 2 rigs available appeared adequate before now. It's almost like something has changed. Possibly as we are not just re-entering 103 well but require a rig for back to back with 104 as we now have funding.
Lots of intrigue but non of it worrying to me. $25m funding set the standard for me !!!
You lot are going to put yourself in an early grave. Just need to relax a bit :-)
Weve got a very high COS well just about to be re-entered and many other parts of the jigsaw ready to fall into place. The funding is already in place to drive forward Tilapia which will not cause any dilution.
Enjoy the sun and wait for the news to flow. It cant be long now !!!!