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Ha, we should own all of ATOG as it's been developed using our money and our time. I think ATOG is just a separate entity to ring fence the asset, it will still be owned and under the AAOG umbrella.You dont want all your eggs in the same basket just in case you drop it :-(
Sorry folks forgot to add the link for previous media piece
https://investor.id/market-and-corporate/medco-divestasi-aset-di-meksiko-dan-tunisia
Medco Energi Internasional Tbk (MEDC) is in the process of releasing ownership of assets in two oil and gas blocks abroad. The assets to be released are Block 5 in Mexico with 23% ownership, and eight blocks in Tunisia with varied ownership. This was revealed in the company's first semester of 2019 financial statements. On April 23, 2019, Medco Energi Global Pte Ltd signed a share purchase and sale agreement (SSPA) to sell 100% of its shares in Medco Tunisia Petroleum Ltd. "As of the date of the consolidated financial statements, the sale transaction is still in the process of being settled," wrote Medco's management. Medco Tunisia Petroleum controls block ownership rights in eight working areas. Five blocks are in the onshore area located in the Ghadames basin, namely Ben Tartar Beer Block with 100% ownership, Adam Block (5%), Sud Remada Block 100%, Jenein (65%), and Borj El Khadra (10 %). Meanwhile, three other blocks in Tunisia are in the offshore area in the Pelagian Basin, namely the Cosmos Block (80%), the Hammamet Block (54%), and the Yasmin Block (100%). The blocks in Tunisia were officially controlled by Medco on August 18, 2014. At that time, the company bought 100% shares of Storm Ventures International (Barbados) Ltd, a subsidiary of Chinook Energy Inc., for US $ 114 million. On its journey, Medco's management decided to stop the company's operations in Tunisia in October 2018. Since December 2018, management has been communicating intensely with potential buyers to negotiate a sales agreement and simultaneously due diligence on these assets. Considering that currently management has no intention of continuing or seeking opportunities in Tunisia, management decided to classify all assets in Tunisia as assets held for sale
What's that noise C99....... Sounds like trolls heading for the hills ;0)
We saw some strong buying on Thursday and Friday last week.......someone had the inside line !!!
Let's hope new age are buying our asset so we have plenty of loot for this deal. Otherwise we must be farming down some of our Tilapia asset. Unless of course MEDCO are coming on board with us using SNPC share and we are retaining circa 56% , Medco circa 30% and SNPC the remainder. That would really give our project wings !!!
Medco bought tunsisian assets
https://www.google.co.uk/amp/s/www.thejakartapost.com/amp/news/2014/06/17/medco-acquires-tunisia-assets-114m.html
Heres the smoking gun regards staff
https://tn.linkedin.com/in/belgacem-gaceur-3b59b0107
Last employer was Medco and now working for ATOG for 2 months
Right folks, I'm not sure if anyone remembers but I spent quite a long time discussing Ophir energies buyout by a certain company. Anyone remember, I spent many hours on it....... well if you cant let me remind you all.......it was a company called MEDCO. Which I'm sure you would all agree it is very similar to Midco which appears on the latest ATOG Midco.
So why is this important, well firstly JB used to work for Ophir so he will have some great contacts inside. Secondly some of these Ophir staff will be soaked up by Medco providing them with some leverage and third point is Medco have assets in Tunisia which I cant find on their website (maybe just coincidence).
Just off to search for my notes. Will report later.
Ps I have just found the smoking gun regards staff!!!!
Theres no questioning the quality of this asset but can the BOD take advantage and properly exploit it is the question ???
I'd suggest you keep the same thread title COdey, changing the title to a negative one is a bit below you I'd say.
The points I've made are factual, no artistic license required !!!!
Proving we have a working hydrocarbon system with oil across all 5 target zones, plus Djeno flowing naturally without stimulation is huge news!!!
New age selling MXII for $800mm valuing the asset at $3.2bn is huge news !!!
The fact our Tilapia block sits smack bang in the middle of the new New Age block which they are just about to begin exploring is also huge news !!!
All these points are transformational for AAOG !!
Skittish, DS took a lot of stick on this BB so this could be his nod to the fact hes still very involved......my preferred reasoning is this is a friendly sign (not from DS) to put us on the right track and as you say alert us to background activity. We have been locked in a news void for quite a long time with serious radio silence. Unfortunately that's allowed the darkside and trolls to hammer our SP with the market falling for their bad vibes. This leak came on the day the new company was formed so they were desperate to send a signal that it's very much all systems go behind the scenes !!!
We either need money to buy Tunisian assets or some sort of asset exchange. ..... Panoro Energy certainly have assets that would suit our style just as an example of Tunisian assets.
However, if the leak was from the DS side it's more likely to be gloating rather than anything really positive for us.
I can still see it . 15.02 Friday
Someone wanted to give us the heads up that ATOG was still a very real possibility, in fact probably very likely after that I'd say!!!!
The question is what implications does that carry for the LTH ???
Well washers, I certainly dont think JB will believe weve got enough cash freely available to drill 103c and go off after Tunisian assets. It was supposed to be fairly game changing acreage/production so trading it for a smile and a packet of Rolos probably wont seal the deal :0)
Clearly the news was absolutely hot off the press so Mr doodlebug is close and was desperate to get this out in the open. The question is does it come from gloating or the heart .....????
I cant believe the doodlebug has not received more airtime and thought process. Someone seriously wanted us to know that ATOG is still a possibility. A secret in worth nothing unless its told!!
Clearly this could be good or bad news but I think theres more reasons for a friendly to want this news out in the open. !!!
Well a few things stand out about our friend doodlebug. Firstly it's a military name, has been established account for years without use and therefore someone clearly wants us to know that ATOG is still alive and therefore an option. One other point to raise is weve seen strength in our SP over the last few days which was against the tide. Is it gloating from someone who has moved on or a hint from those still around that there is something big in the offing.
If Irishmouse needs anymore clues I saw 2 magpies flying together this morning :0)
I'm guessing news will be along soon to fill in the gaps
Irish, if they want to give us £200m clearly I wouldn't complain. I'm thinking £100m as that's what would be needed for management to gain their oppies!!