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Iceberg could you explain what "left the deal spreads means"? Glad to hear we are almost there the suspense is killing me!
I understand DS wanting to micro manage 103 as his personal reputation was getting damaged by the speed and cost of getting to spud. After this hole I would like to see him step back to a non-exec position and let JB be the point man. Lets see.
I am not sure the DS communication about pressure is genuine. Had he said this it would indicate that the seal for the Djeno is in place that would be inside information. My experience of contact with David has been professional everytime.
On the subject of gas to wire. Ok maybe but power stations in Africa used to be my day job (I have built and help develop 5) and I can assure you it is far less useful than oil that can be sold on the international market.
The information they will have to release is if they have encountered an oil rim to sit on this information would create to much insider trading. Gas will not be very useful in R.congo as domestic market is already flooded with the stuff. And I don't believe they are liquifying (does anyone know different) the oil rim is the single crucial piece of information we need to know.
Djeno doesn't hit and the market will Savage us for a few days as the type of investors left in changes dramatically honestly 3p is very possible but no one panic. As iceberg explains plenty of value still to release on the share price on mengo alone. Be on the watch for a bargain.
Could someone explain the process by which someone bought 250k of shares in the morning but it got reported after the market closed? Thanks.
I am ready to Hoover up another 1,000,000 shares at 3p. Frankly this is a position that can't end badly either way!!!!
Downside about right. Upside 50 - 100p
Or signal to the market that you can take this huge bet for FREE!!
He wasnt very accurate before.
Good luck everyone!
Could someone explain why this stock has such a massive spread? Thanks.
Once they drill through the seal they will first encounter gas for the first 50-100 meters so we have about 2 days before anyone knows if there is oil below this. See diagram:
https://energyeducation.ca/encyclopedia/Oil_and_gas_traps
Assuming they are entering the Djeno now which seems likely given Davids interview yesterday. So.........
SATURDAY
Going to ignore aaog for a week now! See you as the Djeno starts heating up.
With a PE of 1 I would expect the senior management to be snorting Coke in the board room. My research didn't flag up any drug use at all!!
Only things I could find that concerned me:
1. Decommissioning costs could be too low although AA gives a convincing account of why they are not.
2. World market for oil could drop and AA will buy us all out for market plus 20%
3. Nobody knows why it is so cheap!!!!!!!! This took a lot of getting used.
I expect a little placing to tide us over to end of Feb maybe 1-2m pounds perhaps a dilution of 5-10% not sure if before or after the Djeno (really depends if the driller is threatening to stop or not!). Aaog is running on fumes but as soon as oil flows a facility will be arranged against the oil flow. Imagine you were running the company why would you dilute everyone more than absolutely necessary before a potentially x10 event?
I worked in oil and logistics in East Africa for 10 years so here is what I know about the next stage.
1000 barrels per day is about 10 trucks a day finding a trucking company to do this contract will be easy and cost about $2-3 per barrel so as soon as we have fracked the hole we should be generating cash (roughly end of Feb)
We could use trucks for up to about 4000 barrels a day. That said a pipeline is the preferred option. We need a 3 to 4 inch pipeline. The steel is unlikely to be available in country so give it 4 months to arrive and 3 months to install. Cost $400-600k.
This is obviously very price sensitive and can't be emailed we will have a pre open RNS explaining the situation.