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The ATOG deal has now taken a year to complete, which is clearly a long time for a deal. There were musings from the BOD that a deal was happening circa March time so presumably most DD and funding was arranged prior to that. I'd expect 3 months of DD but clearly there will have been a lot to do with funding but negotiations appear to have been a long drawn out affair. It's not a deal our BOD have to do so lets hope they are screwing Medco into the ground as Medco clearly dont want anything to do with the assets so will be fairly desperate to get rid of them, especially after a year of negotiations
Skittish, I've been away for a few days so not upto speed but you are forgetting that ATOG already has daily production and reserves. From memory circa 15m barrels of oil and 2,000-4,000 boepd. So I'm guessing we would be looking for a similar RBL facility for the Tunisian assets asTilapia. I'm sure JB could raise $60m to secure the purchase of the asset and leaving $20m to invest into drilling new wells and reinvigorating old wells. As always there would be very little risk with the numbers all adding up. There would be blue sky potential through exploration of course. I believe one of the blocks has a similar onshore/offshore aspect as Tilapia.
Just my thoughts
I presume you'll be buying young harry some AAOG shares for his birth present. What a start to his life that would be :0)
Fantastic news Irish, the start of a great week for us all hopefully :0)
If I were CEO, I'd go for Monday :0)
COdey, you are starting to sound like a shareholder ;0)
But this is not wildcat drilling off Greenland . We are drilling in a world class basin where weve already proven the oil exists and flows. This is like shooting fish in a barrel . Yes theres a chance you may still shoot your foot by mistake, if you are totally feckless with guns, in which case you should stick to water pistols anyway ;0)
Yet you spend so much of your time on this BB telling everyone what a bad investment it is. You could have gained 100% from 2.5p to 5p and a 10 bagger to 25p.
Most of the LTH are investors looking to get a good solid return on their money. Many of us hold millions of shares and will stand to make £100,000's profit. He fact its dropped just allows us to get more at lower prices. I've done it before on several shares and see no reason why this wouldn't be the same. Why someone would spend so much time here just to grab 20% when the time is right just mystifies me
That's all very well Amtech now the SP is low but you've gotta be invested to gain any profit also. Had 103c been put into Djeno production first this SP would have been 25p.
Its not good saying I NEARLY bought AAOG shares at 3p when the SP is sitting at 25p
Leslie, I'm sure most of us feel like that after the constant negativity theyve all provided on the way down, However,I'm not a bitter man so happy to let karma take care of them. It's nice to see them swimming against the tide now though, we are really going to see which ones can swim ;0)
There was supposed to be another meeting in October to seal the deal. Maybe the ink is already drying.
Let's be honest news could drop any time now, morning,noon or night. That's got to make those trolls nervy. Anyone trying to short now is playing with fire imho
Like most things in this world, those that are done in the correct manner take time. Setting up an offtake agreement when the well is not yet flowing commercially, trying to buy Tunisian assets from a multinational including funding and contracts, negotiating a new PSA and licence for our Tilapia block with an African government, signing a contract for a rig which will be overspec for drilling our sidetrack but capable of, and available for, drilling 104 back to back........... just a few of the myriad of jobs and organisation which is required to get us off the ground. Any idiot can do these jobs wrong but getting these jobs done and watertight is an absolute art, but I think JB is the man for the job. Hes not a front of house show off but you can bet your bottom dollar hes grafting behind the scenes to get everything done in an orderly fashion and by the book. Securing that offtake was a fantastic example of this, out of the blue but complete and signed well before required!!!!
That's not a fable, that's my wife but I suppose that's a ladies prerogative.....lolololo !!!
Only joking Mrs TIPTOP :-/
I bet Irish mouse has some mates who could do it cheaper. They could tarmac a few roads for them for half price too ;0)
Media article
"Russia's most successful energy cooperation with Africa has been in North Africa, where Gazprom holds a stake in the El-Assel project in Algeria and Tatneft holds stakes in the Ghadames and Sirte projects in Libya.
Significant new deals signed in recent years include Lukoil joining the Marine XII license offshore the Republic of Congo, and Rosneft joining the Zohr gas project offshore Egypt.
Lukoil recently left projects in Sierra Leone, Ghana and Cote d'Ivoire because of uncertain economics and mixed exploration results.
"Lukoil will be the Russian player to watch," said Ellis. "While Gazprom and Rosneft have the Russian market cornered, Lukoil is looking to Africa for expansion, most recently entering Congo."
Anyone got access to africa intelligence, this story could be of interest to us ???
https://www.africaintelligence.com/aem/exploration--production/2019/10/22/djeno-terminal-could-total-be-in-to-lose-its-iron-grip,108378330-art
Bring on the blue . Should be an interesting afternoon and next couple of weeks in fact
Dont you worry Irsih, I got plenty at 2.62p.....hope you are enjoying the rain ;-)
BC, every piece of good news adds to sentiment and makes this company an even better investment. Clearly the rig news is essential but this SP could still easily hit 5p before rig news then 10p on spud imho. That's some big gains in a short time.
The COS for this re-entry should be 80-90% from point of view
Lol. Must be.......but there cant be any investors out there that cant see this is heading straight to 5p sharpish imho ..... this is a fantastic entry price imho .