Seance. I exited at 3.5p telling everyone on the BB I was doing so. I had an average a lot lower than 3.5p and made some good money but the SP got to 7p and many had a real opportunity to make some serious money there. I attended many Aminex AGMs and spoke to many investors, while staying in regular contact with the CEO, did you ????.
You and only you are in control of your investments and should use all sources of information to make an informed decision on the correct investment for you. Using only a chat BB is always going to end in tears . I can however tell you I'm very very heavily invested in this company and that's my decision to do so . I truly believe in the asset but more importantly believe JB can turn this company around and make it a success !!!
Seance, I like to spend my time making up stuff to post on this BB, it helps burn all that spare time I've got ..... sheesh......if only you knew.
So there is more than enough evidence to prove we tried to buy the Tunisian assets 12 months ago but the deal got dragged out and almost fell through a few times. Recent evidence is very much suggesting that deal may have finally completed. Not only that but there are also early signs of some activity surrounding another deal but thats for further down the road. !!
So if you get a moment out of your busy schedule it may be worthwhile checking out the Medco Tunisian assets to see what potential they hold for AAOG .
Myself, well I'm off to hatch some more wasteful conspiracy theories ;0)
I completely understand and it's always a worry that a business can grow too fast especially when it appears the basics are not being handled too well. I just feel that JB performs best when moving forward, his skill is hunter gatherer and that's where I believe the success will arrive for AAOG. Tilapia is a great asset and will pay huge dividends in my opinion but if all new assets are internally funded and assets/debts ringfenced then I think we will only benefit from letting JB do what he excels at.
Of course, as we still only have on asset this is all pie in the sky but it feels we are getting close to the big break imho
Let's be honest, sitting on our hands has done nothing for our SP as it allows manipulation to thrive. Yes we could have gone into production with Mengo but with much lower production figures and much more well maintenance required, I still truly believe Djeno is by far the best option for Tilapia !!
TF, why a distraction?? We can't make Tilapia happen any quicker and new staff would just be employed by ATOG to deal with any connected issues. Surely if ATOG can be a subsidiary of AAOG yet run under it's own debts then it's a win, win for us. If it comes good it gets soaked into AAOG and we are very happy but if not then nothing lost.
It's my personal view that we need some diversity in our asset base otherwise you get these killer lulls in newsflow where the SP gets hammered. I also believe more assets would make us much more attractive to BIG money investors.
Go BIG or go slow is my opinion
Another interesting angle is Tunisia has lots of shoreline for us to use our directional drilling experience to drill from onshore out to sea. Panoro energy are drilling their SMW well in a similar way in December.
https://www.offshore-mag.com/drilling-completion/article/14038738/tunisian-partners-target-december-for-first-well
Another interesting angle is Tunisia has lots of shoreline for us to use our directional drilling experience to drill from onshore out to sea. Panoro energy are drilling their SMW well in a similar way in December.
https://www.offshore-mag.com/drilling-completion/article/14038738/tunisian-partners-target-december-for-first-well
So lm thinking a private equity deal may be the lynchpin to allow us to buy the Tunisian asset. Before everyone goes all wolf of wall street on me I think JB has the experience to enable a successful deal . Similar to the $25m RBL hes just set up for Tilapia, which I'm sure would have been a difficult deal to pull off, especially when you consider our well is not even in commercial production yet. Heres a brief paragraph about PE which hints towards this fact .
"All deals are expressly ‘value-driven’. PE is seeking to take advantage of depressed or under-appreciated asset valuations in a buyer’s market where, for strategic reasons, sellers are looking to release capital."
So I believe JB has the skills required to ensure the numbers add up and costs are kept under strict supervision allowing outside investment
Just my thoughts but the purchase of another asset could be the diversity that AAOG requires to become more complete. I've said for a long time that Tilapia can only go at one pace, imagine what our SP would have been now if ATOG was completed back in March when it was hoped it would be !!!
Just some Sunday thoughts
TIPTOP wrote this on the 26th of march
"So here is a quick example of a scenario. Our JB has friends in high places and he wants to exploit that. He also has very close contacts in Ophir who are currently being bought out by Medco. Medco happen to have some very nice assets in Tunisia which would suit our requirements of proven producing assets with upside both organically and through blue sky exploration. Let's say that some Ophir staff are moving to Medco and have some leverage to allow a JV deal (or similar) with us and Medco. Once we have a JV agreement over a proven asset we could then start up a new company called ATOG and borrow a very chunky amount of money to drive forward the asset.......Yes I agree it's a long shot I'm interested to see how JB is going to leverage his blue chip contacts.
So what I'm trying to say is there are many ways to get hold of an asset without using a placement to fund it and many ways to fund its growth also without a placement. I'm very confident JB has the business acumen and experience to pull a rabbit from his hat.
We can still concentrate on Tilapia while getting started on a new asset. These new assets can take months and months to set up so the earlier we get going the better imho. All the best unexplored acreage is likely to come with some government or security issues as that's the nature of the beast. Thats exactly why starting up a new asset under a new company is an ingenious idea. All the risk is kept separate from AAOG, it causes the mother company no dilution, the new asset will have to be self financed on it's own merits and no robbing Peter to pay Paul. AAOG gets all the benefit of a new asset with non of the risk, if ATOG fails it just gets closed down without infecting AAOG, the mother company.
Just my view on the subject but I think it's fantastic news, it fits our company business model for growth while limiting our risk. JB wants AAOG to be a huge success and we ain't going to do that piddling around with one asset. Big ideas require swift but yet effective decisions. I'm very excited about it all :-)"
Of course the trolls said I was making it all up and in dream land but I just hope it gets off the ground this time as a lot of work has gone into this new asset from the AAOG side imho !!!
This is the kind of funding deal possible which would allow ATOG to buy the Tunisian assets under the umbrella of AAOG but without any major dilution/risk to AAOG shareholders.
Proof, that if JB is clever he can pull a rabbit from Santa's hat
https://kapokcapital.com/panoro-energy-asa-completes-acquisition-of-omv-tunisia-upstream-business/
I've discussed this so many times in the past and its not going to change. Our company strategy is to buy more assets, our CEO has built his career around buying distressed assets, our most recent member of staff was a drilling expert employed to cope with AAOG's " growing portfolio of operations in Africa ", ATOG was named so it fell under the AAOG umbrella otherwise it would have been named something completely different. I don't for a moment think that doodlebug is talking about booking a rig when he said "Alea iacta est" as it would have to be a much bigger step to warrant such a quote. A long time ago DS said we would be much much bigger if a background deal came off well he was right as its 12,000km2 bigger. Clearly we have been trying to buy these Tunisian assets since last October but its been a big fish to land with lots of problems. I could see JB getting some sort of clever financing to buy the company (maybe PIPE) and then using an RBL type facility from current production/Reserves/ low cost organic production increase to drive forward the asset. It would be under the AAOG umbrella but ring fenced to reduce any fires spreading across to AAOG. It would also be planned meticulously with all numbers for the project being very safe and realistically achieved with minimal risk imho
Ive written many posts on this subject since the beginning of the year. I will hunt some out but now its VINO TIME :-)
Yes Nig but it's the proximity to our Tilapia block that's of interest, so any marine III info is valuable to us......or at least that's what I presume Jamesons is getting at.
RoJo, I may appear mad as a hatter but that's just extreme happiness due to my health,wealth and life contentment.....not forgetting my wonderful wife of course.... :0)
Tell you what Irish, I wouldn't want to be out of this over the weekend ;0)..... It's a good sign when you start looking longterm, that means we are nearly there!!!
I think we will be getting some very nice news before xmas :0)
£1 !!!!......You are insane man !!!
50p ( £200m MC) is much more realistic I'd say ;0)
The $60m is for the project and we dont know how much we will have of that project yet. So our share would be circa $35m and overheads would just be trucking costs and well head maintenance/security,so minimal onshore costs !!
However, the real value would be in our Tilapia reserves as 300m barrels has been mooted by our BOD !!!
COS should be 75-85% imho, theres always some risk involved with any drill
Irish mouse, what an absolute ramper you are....all you have to do now is add a long list of positives about AAOG to the end of your post and you'll be smashing that No.1 ramper position.....sheesh ;0)
One small niggle, we have 400m shares in issue this time but still a small amount for the AIM and a minuscule valuation when you consider 1 year of 2500bopd would net the project circa $60m, with minimal overheads and therefore huge profit margins !!!
£9m market cap .......Its Bonkers and proof these share prices are only driven by sentiment!!!
Ahhhh, morning Rojo...unfortunately it's a very busy time for my business approaching Xmas so I'm flat out earning and will be buying this all the way down. Crazy, crazy, market cap now when you consider even our oil infrastructure has a replacement value of $20m and weve hit Djeno oil.
The fat cats have done a proper job crippling this SP, unfortunately for all the LTH. Great time to buy in for you though Rojo!!. I'm just starting to buy in my pension pot again as my average is still 5p in that account :-)
At these silly prices we are becoming a takeover target !!