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Keep the faith. As soon as we get the green light for the rig sentiment will spin around and we will be flying higher with ease.
Keep your satellite eyes peeled for anything moving Skittish . Just waiting for that off hire sign to appear down the road
Leslie, unfortunately 18bn shares gives you very small slice of the pie!!!
Only 400m shares in issue here is great !!!
Why sister holdings have been selling is beyond me. If they wait until the rig is mobilised they could sell into the wind without risk, if they dont want to hold for sidetrack results......crazy !!
Tiburn, I've been trying to tell everyone until I'm blue in the face. No debt, low shares in issue, money in bank ,5000bopd world class reservoir, Djeno oil and pressures proven ........ all we need is a rig and the santa rally is on !!!
Tilapia is a huge opportunity for a micro cap !!!!
FWIW, I think JB has made the right decision for the company in its current financial situation. The Djeno is by far the best reservoir (world class) which produces 5000bopd at high pressures naturally without stimulation or lifting gear for +5 years with minimal decline rates and a lovely 43 API oil. The profit margins and low well/reservoir maintenance from an onshore location make the financial gains mouthwatering. Following on from that hes sourced a very capable rig for the job which is being used locally saving demob/import costs and time while putting in place a $25m financing package to drive the project forward once we have re-entered 103c and its producing.
Yes it's been no frills while all this has been put in place but making the right decisions are more important than time taken, apart from the SP tanking through boredom. The Mengo is a fall back option but it's very much an unknown being a tight reservoir with much lower flow rates and requiring much more maintenance and flowing equipment. The financial benefits of the Djeno are staggering in comparison and you've got to remember we only own 56% of the profits so with low flow rates, high maintenance costs, royalties/ taxes .....etc.....the margins of the Mengo would be squeezed considerably. Put it this way you wouldn't get a $25m RBL on the back of the Mengo!!!!
JB works the figures very well and you can be sure financially over the next 1-2 years the Djeno option is where the big bucks are. It's the tortoise and the hare. Trouble is the market needs frills these days and lack of action and interest only means one thing. Everyone wants fireworks everyday which is why I believe we need diversity in our asset base
Hope that makes sense as on the hop today.
Sorry all, flat out today so not much time. Basically the Mengo is a much more complicated reservoir and would require at least frack/wash to stimulate the formation which would require a different rig and equipment. It's not just as simple as perfing like the Djeno would be. Once this work was carried out it would then have to be plugged below Mengo and drilled around to do the sidetrack. This would be a lot of extra cash spent and no guarantee of success. The Djeno is king
Gmcc, thanks for the advice about the repellent, that's so thoughtful. However, I'm used to having a buzzing in my ear especially when the investment manager (who handles my pension) called me today wanting to know why my AAOG investment was down 50%. My reply was " An Irish Mouse had told me to buy AAOG stock"........ I'm expecting a call from the men in white coats :-/
Tomspinner, that's because most AIM companies are run by #flybynights who's only experience of oil is WD40 . Look at the experience and quality of our management, they wont want a fail on their CV. Theres 3 things more important than money and that's health, love and PRIDE imho.
We have some real class behind AAOG with oodles of industry experience and contacts !!!!
http://www.aaog.com/content/about/our-people.asp
Yes, indeed Irish, that's what I was getting at. Hes either playing it very cool or cant buy anyway!!!
The only thing that's coming loose is the grip on my wallet, itching to but more....... Use that big nose of yours to do some sniffing around to find some info ;0)
If JB was bothered about the SP or turning sentiment all he would have to do is buy some shares
We need doodlebug to give us a hint. If you say his name 3 times, does he appear.....LOL
I think if DS has been removed from AAOG he wouldn't be a part of the ATOG deal as I see it being brought in as a subsidiary of AAOG, if it happens
It was a DS deal when he had the backing of the AAOG team maybe. Hes like the loud mouth in a fight, OK when his mates are behind him
Also why give it the same corporate ID as AAOG and a connecting name. Also the team sounds like our management "ATOG has an experienced and well-respected management team with over 200 combined years of oil and gas experience"
Certainly not a team DS could put together. DS is a chancer, hes not into hard graft imho
https://anglotunisianoilandgas.com
Theres no way DS would want to take on ATOG by himself , he doesn't have the acumen or the will.
Doesn't sound like just the job in hand to me
"growing portfolio of operations in Africa" !!!
I think DS was pushed because he was a liability and his placements were dubious at best, with the inside line knowing everything long before they should have. You cant carry on like that !!!
Well Mark V is going to be sat twiddling his thumbs then
"Mark now uses his international oilfield experience and knowledge to support Anglo African Oil & Gas's growing portfolio of operations in Africa."
"Senior Drilling Engineer responsible for overseeing all drilling engineering, planning and drilling operations for Anglo African Oil & Gas group worldwide."
I tell you what TF, if I were JB and all I had achieved in 12 months was to secure an option on a rig and a $25m RBL then I would be disappointed to tears !!
JB has achieved so much in his career, both in the military and oil industry, I dont for 1 minute think hes sitting on his hands playing PC solitaire .
Although I do think the $25m RBL was a coup I think it's just a glimps pf what hes capable of achieving imho