“Clowns to the left of me…
Jokers to the right….here I am.
Stuck in the middle with you..”
Let’s get one thing straight. I am invested in AAOG. I’ve
had a small top up today at 5p and am keeping some more cash in case of a rights
issue or fund raising.
It does seem as if we are stuck in the middle at the moment.
We have a BOD who have performed a terrible job in communicating what’s been
going on. I have been waiting and waiting for the final results as it’s at last
a chance to see where the company is in an official RNS with all the backing that
entails through accounts sign off and nomad oversight.
Key bits for me are the affirmation that the topside can
cope with 2500bopd currently. Djeno oil is not just seeping through, but as
James puts it (a reliable none spin source), the Oil is flowing everytime they
open the well. The oil has managed to come up from a crack in the bottom cap.
There are now three plans
.
A)
To produce from the middle or top Djeno
depending on 103 sidetrack.
B)
Produce from the known top Djeno
C)
Produce from the Mengo/R layer
The write downs etc are irrelevant for me. Many companies do
this but just keep quiet about it.
Now imagine if this news had been properly managed, instead
of negative comments they talked about the possibility of increasing revenue by
$1m a month by taking a further 6 months to finish the hole etc. Over the
course of 3 years by taking it’s Djeno strategy the company is probably going
to generate over $50m more revenue through this route than the Mengo route (for
just the 103 hole).
A few issues re funding, but this is a 28 day event, rather
than the 100+ day event of the 103C drill. With that in mind the cost is likely
to be no more than 4m, so 2.2m or so for AAOG.
AAOG have also heavily dropped the hint(not confirmed by
RNS), that its looking at maybe offering a percentage of the license for
funding, hence the strong desire to get SNPC to swop debt for more percentage
of production. David also confirmed that he had been speaking to the key
shareholders. Probably for their AGM support. They don’t want lots of dilution
and some kind of commitment was likely given.
We’ve also heard today that SNPC have just paid a further
$850k. Plenty of money coming in.
So we’ve covered the clowns.
Now for the jokers.
I hope folks have been reading and following some of the
happenings over the last few weeks on the boards for AAOG.
Take note of the names.
We have seen some brainless, spineless, idiotic, mange induced,
personalities. People so low on the scale of humanity that even a pound shop
wouldn’t trust them to shelf stack.
We all know who they are.
They are the people that constantly tried to sow fear by
talking about suspension due to no accounts.
They are the people who talked about legal action from SMP.
They are the people that talked about fund raising over the
last 6 months.
They are the people that have spread lies about Ebola,
strikes, SNPC taking the license away, no oil etc etc.
They are the folks who this morning sold, complained how the
share price would crash, then in a blink of an eye brought back and then turned
really positive.
They are the cretins who think that because it’s AIM they
can do and say whatever they like. It’s all OK because everybody is doing it.
They are probably the kind of people who would, in a war, commit war crimes,
because everybody else was doing it. Or even in Nazi Germany happily send
innocents on the death trains, because everybody else was doing it.
The honest answer is not everybody does, there are some
really nasty players on AIM, but you don’t have to join their ranks to make
money. If you do, then it’s because you choose to do so. However you might try
and justify it.
I have had enough success to not care too much about AAOG
this year, it will come good at some point, but every investor has their own
choices to make. I just hope, without much anticipation, that the Jokers on
AAOG realise what kind of person they really are.
