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Anglo African Oil & Gas (AAOG) and Reabold Resources (RBD)

Anglo African Oil & Gas (AAOG) issued an RNS this morning announcing a "New 20-year licence".  Many appear to believe this has now been awarded, perhaps confused by references to the "Congolese state", however, all that has happened is that their involuntary JV partner has agreed to an application for a new licence.  Remember, in their RNS of 11 December 2017, Anglo African said "AAOG wishes to ensure that this process is completed before the start of drilling of TLP-103" so drilling remains conditional of the award of a new licence and I would suggest investors contact the company for further clarification on this.

Also requiring clarification from AAOG is their funding situation.  I very much doubt that the company is fully funded for the proposed operations, particularly since they are now "entering into a significant turnkey contract with Schlumberger to carry out a an intervention on the TLP-102 completion" in April and May, before TLP-103 drilling operations commence in June.  Ask them if they are fully funded to drill TLP-103; a placing is inevitable in my opinion.

Reabold Reasources (RBD)'s recent fund raising document is now available online at:
https://reabold.com/wp-content/uploads/2017/10/Reabold-Presentation-Feb-9th-2018-FINAL.pdf
It lists a pipeline of potential projects, any of which could be announced any day now.  It is worth taking the time to read this document and see the potential here. The shares can still be bought for just above the institutional placing price.

Contact me on Twitter @Oilman_Jim

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  This post does not constitute investment advice or a recommendation to buy or sell and may be incorrect or outdated.

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