Member Info for Washers

ANGLO AFRICAN OIL & GAS – NEW STATEMENT TO SHAREHOLDERS
January 5, 2020 | Posted by admin
Dear shareholder

A short update as we go into a pivotal week for the Company. First off, let me caution ALL genuine shareholders with regards to some utter nonsensical, fantastical comments that have been made surrounding our consortia on various social media forums.

To clarify (in print with all the legal and regulatory ramifications thereof) a number of untruths being put out by parties whose interests are diametrically opposed to you:

We are not proposing to inject £100,000 into AAOG. We are proposing to inject just shy of £1m through also purchasing the ESA stock in full. This achieves another bonus for shareholders through taking out an overhang of stock and allows the shares to “breathe” if we conclude the deal. This money would come in quickly and without onerous conditions as is likely to be the case in the Riverfort financing proposal.
The warrant attachment at 1.5p is because we believe that if we are successful in future negotiations with the SNPC surrounding repayment of due monies, that there is a very good chance of these being exercised. This would bring a net additional £1.8m into the company and properly stabilise the balance sheet aswell as provide funds for drilling.
There has been a lot of nonsense spouted from various quarters with regards to our debt package and Oxford Energy Ltd. The Ltd company is simply a dormant entity at present through which funds would be channelled in the debt facility. Work is taking placing to prove up to the BoD of AAOG’s satisfaction in the next couple of working days the surety of these monies. Remember, we have had to put this proposal together largely in the dark, with the provision of DD material being delayed from the BoD of AAOG and over a much shortened festive working period.
To remind all shareholders, if you want to secure your company, you need to vote and send your proxy forms as per instruction here as a matter of urgency:

High of the day above ask at the time. Nice way to finish the week. Roll on Monday.

GLA

Yes slightly inflated UT but closing price 1.25p Market expecting possible news Monday and gap up from 1.25.

GLA

Ignore last talking out of my backside. Got trades and posts in wrong oder apologies.

GLA

0 % tomorrow......Saturday

GLA

Mookster your last post has already been removed clearly Admin thought you're post was as pathetic as many others thought.

GLA

Mookster your last two post are pathetic. I would guess you are already in LEK so stay on there as you are clearly not invested here.

GLA

GLA to you to I am confident in here.

I am still fully invested in you know where, to late to sell, actually thinking of averaging down in some desperate hope to get some of my investment back.

This share is certainly less stressful.

GLA

Great to see regular update on Website make a change.

GLA

correction Miton not Milton

GLA

What is the next step if AAOG board do not make a decision on the Align offer prior to the 13th. If Align with shareholders and Milton have enough to vote No to ZEN offer will the next step be further clarification of Align offer and a further EGM before February or will AAOG simply disappear?

GLA

Castle ; someone sold to early never mind.

GLA

You can’t vote curious99 as you don’t have any shares.

GLA

0.75 close only another 800% and its game on.

Lets hope this is sorted in time for 13th and ZEN booted into touch. I will be voting for Align

GLA

Unanswered questions that I'm sure will be sorted prior to 13th January. Certainly move encouraging than ZEN IMO

GLA

continued

These forms can be downloaded HERE and then email it to sarah.cope@aaog.com and myself at richard.jennings@alignresearch.co.uk together with a copy of your nominee/broker statement verifying your holding and then send a physical copy to the company’s registrar’s address being – Share Registrars Limited at The Courtyard, 17 West Street, Farnham, GU9 7DR. To be safe we would recommend sending this form by recorded delivery and no later than the 3rd January 2020.

In the alternate, please instruct your broker/nominee to vote in accordance with below and to give you confirmation of this voting instruction having been enacted.

I cannot stress enough the importance of using your vote in this situation.

STATEMENT TO ANGLO AFRICAN OIL & GAS SHAREHOLDERS

December 30, 2019 | Posted by admin

Dear Shareholder

I am pleased to relay that we have spent the last few days during the holiday period working on a credible and now fully underwritten alternate proposal to the current woeful deal from Zenith Energy that the BoD of AAOG has asked you to vote on. Our group has now submitted this offer to AAOG’s acting chairperson Sarah Cope.

Our proposal provides, as an overview, the following:

1. Cash (in excess of Zenith’s cash component) to stabilise the company through a placing at a significant premium to the current stock price. This placing includes commitments of material sums from ourselves and the proposed Director nominees aswell as existing large shareholders. The proposal structure also provides for the prospect of further cash coming into AAOG’s balance sheet at a significant premium to the current price.

2. Debt support of a minimum $5m at the asset level (subject to usual conditions with regards to DD etc)

3. Management replacement with individuals who are seasoned Oil & Gas executives and, in the case of Alexander MacDonald, one with deep knowledge of AAOG’s background, indeed he being one of the founders of AAOG, and enjoying a positive relationship with key parties in the Congo. Further, the remuneration of these replacements being pegged at a nominal salary level with their upside coming from equity price appreciation

4. The intention to carry out a forensic investigation into all monies spent under the previous management’s watch

6. Most importantly, the opportunity to retain 100% of the 56% share of the Tilapia licence as opposed to the nominal 20% as proposed in the Zenith deal.

7. The opportunity to recover 100% of the $5.3m debt owed to the company by SNPC again as opposed to the derisory 20% in the Zenith deal.

8. The termination of the Equity Share Agreement with Riverfort and the taking out of this stock overhang also at the same price as the proposed placing – at a significant premium to the current stock price & estimated to raise approx £300k for the company

9. The sweeping out of the “old guard” NED’s connected to Sefton and Berwick and that has presided over such a shocking and swift destruction of value

We have had an overwhelming response this last few days from shareholders holding a very significant portion of the stock register. It is clear that there is a very large groundswell of support to oppose the Zenith deal. I can also confirm that our proposal has the support of some of the largest shareholders too.

With the above in mind, we urge all shareholders to vote in accordance with the template below in order to send a clear signal to the Board of AAOG as to which direction you would like your company taken.

These forms can be downloaded HERE and then email it to sarah.cope@aaog.com and myself at richard.jennings@alignresearch.co.uk together with a copy of your nominee/broker st

It certainly appears DS is trying to distance himself from the expenditure after the financing arranged. DS is implying the financing was raised for 'planning to increase production and cashflow by drilling a sidetrack before the end of 2019'

Clearly this hasn't happened so where is the money. Maybe DS could simply pick up the telephone and ask his work partner and friend JB and inform the market.

I won't hold my breath.

AAOG relevant part copied from ICON RNS today

David explained to the Company that while he will continue to be involved in and support the Company's operations, and in particular business development, he felt that rumour and market speculation in respect of one of his previous companies, Anglo African Oil & Gas Plc ("AAOG"), was having an adverse effect on the Company such that it was in the interest of the Company that he is not involved as a director or in the financing plans for the Company at this time.



David resigned as Chairman of AAOG earlier this year, at which time it was planning to increase production and cashflow by drilling a sidetrack before the end of 2019 and capital had been raised for that purpose. David has had no involvement with AAOG since then. David explained that he is therefore not privy to any exact details of the issues that have arisen there since he left, but has every confidence in the board of AAOG to resolve them as best they can in the interests of the shareholders and in order to realise value from the Tilapia asset.

ATOG will get the world class asset for less than I have invested.
Powerless to stop them.