Member Info for wraith

In the scenario, that we have explored,.....the way I see it, if SNPC cannot find the $10m owed to AAOG,....they would have to assign 30% of Tilapia field to AAOG, then if AAOG farmed out part of that 30% to a Super Major, SNPC would also need to farm out a further percentage, over and above the 30% already assigned to AAOG, for their free carry,....would be better for SNPC, to assign 15% to AAOG, & agree match the AAOG 15% in a farm out, although that would be, from a lesser % of Tilapia field held, by SNPC.

BW

Always interesting, to explore possible scenarios,.....extra cash is always welcome, but not essential, in the scenario I outlined,....both SNPC & AAOG, would have free carry on first wells, giving breathing space, whilst production increased.

BW

AAOG would retain the same percentage of the Tilapia field, as they have now, in the scenario I outlined,....AAOG would first receive, an extra 15% of Tilapia field, from SNPC, as part repayment (15%-$5m) of $10m,....then AAOG farm out that 15%, retaining original percentage.

BW

JS490,.The way I see that scenario working, is;-

SNPC assign 15% of there interest in Tilapia field to AAOG, as part payment (15%=$5m) of $10m they owe AAOG,.....then SNPC & AAOG each farm out 15% to Super Major, for Free Carry on number of wells etc,.....SNPC repay AAOG, the remaining $5m, from their share of future production.

BW

I think this is very early days here topshares2,.....we should all do very nicely (imo).

BW

Just seen your post NewDayToday,....thought topshares2 had started new thread.

BW

Sitting on a good six figure, AAOG shareholding, with a Gross average s/p, in single figures, myself topshares2.

BW

Tune for weekend: https://youtu.be/AbaNGU1CrXI

BW

Yep, agree with you Docit,...."to raise awareness",....made it very clear, that a Fund raise was not needed, whilst production being brought on line,....also made it very clear, that a placing, would be the last avenue of last resort, as far as future Fund raising, is concerned.

BW

Having listened to presentation video, several times,........lots of good info in there,....towards the end of video, the licence & $10m owed to AAOG, is commented on, something along the following lines;-

"Would sooner have 30% extra of Tilapia field, than the $10m owed to AAOG,.... SNPC scrambling, to see if they can find some Cash, for AAOG,.....if SNPC come up with the Cash, there has got to be an understanding, of how they are going to Fund, their share of the costs, going forwards,....expecting to negotiate, a material increase, in percentage of Tilapia field, along, with some of the $10m, owed to AAOG", ( https://t.co/oTkKf8t6Me ).

The Tilapia field, seems to be in great demand,.....but then in my view, it should be, it's a success,....not that you would think so, when looking at s/p10p level !!!

Will continue to add, here at AAOG myself.

BW

Agree with you, on this part of your post, Mamms;-

"now the Department know what the procedure is and they will follow it - they already got the Iolar one right and the BROE one will simply follow after an appropriate period has passed"

Still holding Full Core shareholdings, in both PVR & LOGP myself,....good luck with your strategy.

BW

The future does look very good,.....what we have already achieved, with TLP-103C ,....then looking at the prospect, of drilling TLP-104;-
Test the Djeno and secondary
reservoir along with the
Vandji formation
• Use results from TLP-103C to
enhance TLP-104 well design
in order to produce from the
Djeno at optimum levels.
Source: http://aaog.com/archive/presentations/AAOG-company-presentation.pdf (page 9).

With the COS figures for TLP-104;-
Mengo from 60% to 80%
Djeno
from 25% to 50%.
COS figures source: https://www.amazon.co.uk/clouddrive/share/GEGCdpRoWcxxwS9LSGi7g4AZDcRT4oqwo4klsH8vHIR/fPLc0HAfR1-QOjqaLhLBUA?_encoding=UTF8&*Version*=1&*entries*=0&mgh=1 .

BW

I think the same (presentation),seaace,.....an update, on licence / $10m owed to AAOG (both mentioned, from 6:51 into interview https://youtu.be/hBMqgsfcVTA ), would be good.

Yep, hear what you are saying, increased my AAOG shareholding today.

BW

Thanks for link ( https://www.proactiveinvestors.co.uk/companies/stocktube/12017/europa-og-s-hugh-mackay-on-wressle-progress-and-2019-work-programme-12017.html ), jupiternmars.

BW

Washers,,....In the interview, something was said, along the lines,..."it would be a nice problem to have" (production from the Djeno).

BW

Excellent result ( https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AAOG/13950633.html ),....increase stake or cash from Gov,......giving the opportunity, to use cash or farm down TLP-104, sounds good ("The Company has received technical advice that it should upgrade the topside facilities before attempting to produce from the Djeno.").

BW

I'm expecting to see, a Fund raise, about July 2019, when looking at figures, in RNS below,......a Fund raise, in the s/p@3p to 4p range, you could be right,.....would be very comfortable with that,....still cautious myself, with my Gross average s/p, sub last placing price, of s/p@1.3p.

RNS: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/LOGP/13822529.html

BW

Agree, with the points made, in your post, woodaldo,....myself, very happy to stay invested, with what we have already found, to date.

BW

dunderhead,......In the shareholder letter (found under RNS above), dated 14/01/2019, under the heading, Offshore Ireland, the following guidance is given;-

"As investors are aware, the Company is currently negotiating farm-in agreements with a major international oil and gas company in respect of LO 16/20, FEL 1/17 and FEL 3/13. We have agreed terms with their NW Europe division and continue to await a final investment decision from their head office."

BW

25/01/2019, is the date, I have penciled in, for TD, Clumpet.

BW