'ADL has assembled a top tier Indonesian drilling team that has commenced the well planning process to fast-track the spudding of our first well which will be a target following our readmission to AIM'
They may be on with the drilling late April/May time depending on the permitting process.
If Andrew Bells lips are moving he is er, obfuscating. That RRR had income was the impression he was trying to give in this pre-placing PR exercise. I would take anything Bell says with a massive dose of NaCL.
Andrew Bell has said that LM20 has started producing. He said production at $10 a barrel or less. He said he expects LM21 and LM22 soon. Seems to think that the update on LM20 would be a week or two once the well settles down. Still thinks production will be "quite good". So based on what he has said NCT is now getting revenue from LM20.
I saw that when it was announced. It seemed to me that they might take up some of the Indo deals that ADL didn't want or farm into MX. The key is get production or near production so they don't have to go back for placings all the time.
I would expect that we would hear that LM20 is working fine sometime next week. Two listed companies are now involved so it makes RNS a little bit more complicated. If it were me, I would want to run it for maybe three/four days and then confirm the flow rate. So that probably means Tuesday/Wednesday/Thursday time. CPR for MXO I would have thought by end February; I was hoping sooner but it seems not. The timing for the MXO CPR is down to when they instructed it. If they instructed it early January, then you would think it would be out end of February. On ADL, they have announced their first deal and they now need the CPR and the relisting document so probably end of March time assuming they instructed the CPR back end of last week/early this week. As always with these things, timescales slip. In my view both of the MXO and ADL teams have done a good job so far: things have been slowed by practicalities. PS the ADL and MXO ****ging off in the public domain in recent weeks just goes to show that some people are just after click bait. IMHO DYOR
He also stepped down from Andalas Energy and Power Plc the same day as Cameron Pearce. Further investigation has Jeremy listed against a number of companies.
Senterra Energy PLC – Active Optiva – Active Upland x 5 – Active CM&D Pharma – Dissolved Insinger De Beaufort – Dissolved Senterra Energy PLC stands out like a sore thumb, the question I asked myself was why would two directors resign from a company like Andalas Energy and Power Plc. which looks to be on the verge of signing multiple contracts in Indonesia with a quality board at the helm. Experience tells me that in some cases and new shells, old directors are agreeable to move onto other things after a certain time period or pay the old directors off.
In Senterra Energy PLC case, two of the directors dates of birth are: Kurt Portmann born 1945, Mr Cattaruzza born 1937. So one could assume these two gentlemen will be replaced. This is a clean shell with cash that only intends making one acquisition. This is the clue:
(The Company has been formed to undertake a single Acquisition of a target company or business in the oil and gas sector).
It is no coincidence in my opinion that these companies are connected in one way or another, I always back my research. As things are still unfolding its quite difficult to say a hundred percent what is going on. Looking at all the connected companies and what they do and where they are in the world, I would suggest one company is for Indonesia and the other aimed for Mexico.
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