News today from Anglo African Oil & Gas (AAOG) announcing the finalisation of a contract with Schlumberger to supply support services for the drilling of the new TLP-103 well, the completion of the workover of the TLP-101 well and the bringing forward of the workover of the TLP-102 well so that it will be completed by early April. To me it seems clear that they will announce the placing then, hoping that the workovers will this time have resulted in a meaningful increase in production.
UK Oil & Gas Investments (UKOG) slipped out news on Friday afternoon of another convertible loan conversion, this time at 1.42p per share. There is still £5.25 million outstanding, so based upon the decline to date, the share price should be well under 1p by the time the loan is fully converted, probably sometime in the summer. At this point I would expect to see a "conventional" discounted placing, followed by a huge ramp. It's one to keep an eye on.
Savannah Petroleum (SAVP) waited until well after market close on Friday to announce that one of their institutional investors has sold down. The company seems to be going nowhere now and with the massive supply of shares issued as a result of the Nigeria acquisition, even the Niger drilling campaign appears to be having no impact.
Finally, Reabold Resources (RBD) announced today the authority granted by the general meeting to the directors to allot the new placing shares. I suspect that new acquisition announcements can be expected very soon now.
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The author holds one or more investments in one or more of the companies mentioned so this post cannot be viewed as independent research. This post does not constitute investment advice or a recommendation to buy or sell and may be incorrect or outdated.