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? maybe the CPR is ready, but just doesn’t show what they wanted it to?
about time shareholders had a meaningful update rather than puff, including
some feedback about what the heck happened with that marginal field bid.
meanwhile, about seven weeks left to produce those delayed accounts.
The CPR should not really take this long. I can only imagine if there is disagreement or some issues that need to be bottomed out. We have been talking about the CPR for a long time. Unless I have missed something it’s the lack of information that is concerning.
I said back in June that it would be August at the earliest before we got the Barracuda CPR. We should not be surprised if everything takes 2 or 3 times longer than it should. That is par for the course.
He would of been bound by rules to notify at the time
I still think as both trades were within 30seconds it was just a change of legal ownership with the same beneficial owner
unfortunately we don't know why he left, or what he will do with his shares in the near/long term
Just have to wait here for news - should have had the updated report on Barracuda by now
Still waiting to here on the Panoro / Petronor deal in AJE which will allow Phase 2 to progress
i guess that the resignation of peter francis probably it even less likely that
we will ever get an explanation of those two trades on 10th june when there
were those two trades, each for the identical amount of shares that osa &
peter francis had bought in march (per 24/3/21 RNS), i.e. 1,176,471 shares.
it looked like two directors each bought 1,176,471 shares in march…but
then it seems two unidentified people sold 1,176,471 shares in june….but no
RNS was ever issued to explain who had sold what…. & now that peter has
resigned from BoD, he won’t need to notify /account for sales of ADME shares.
but perhaps it was all just a funny co-incidence.
Thanks Dan
24th March RNS for Directors Purchases
10th June there was 2 trades of identical number of shares - 1,176,471 which looked like it was a transfer
we have had no confirmation of that
It could potentially of been 2 sells as both OSA and Peter Francis received that number of shares in the March placing
But no TR1 document to confirm either way which is really poor
Re your post late Wed, when were those 2 trades? There were 3 late trades on 28/6 but for 3 different amounts, none of which tally with your figures although very close. Also I could not find the director purchase in the March placing. What document is it please? Thanks.
these things happen, looks like superd was quite a decent investment,
but ADME are just burning too much money on all the other stuff.
wishing you and yours good luck and good health.
Spikeyj, I took the hit on ADME on that last RNS. I bought in mostly because of their Superdielectrics holding. I should have spotted the sale long before the RNS, but I was being thick at the time.
Any oiler that has to scratch around for a few hundred thousand should be in ICU.
some moron on another discussion site is pretending to be aggrieved
that i am saying ADME has no income. but that is *not* what i am saying.
to be clear, of course ADME does still have some *revenue* (albeit a
shrinking one) from aje liftings. - but because all that money disappears
straight into the black hole of project level debt, it does not provide any
*cash* for ADME to meet its commitments falling due shortly. important to
distinguish between cash flow and cash balances, as opposed to revenue.
i am wondering what the real reason is for ADME
failing to publish its audited accounts on time.
one fairly obvious possible reason is just that they don’t
want to disclose just how bad their figures are until they
have somehow managed to get yet another placing away.
but i suppose another possibility could be that their auditors have
not agreed to sign off the accounts on a growing concern basis. (as
they have zero recurring cash coming into the accounts, high ‘admin
expenses’, and other short term commitments to fund, with the recent
very expensive loan roll-over suggesting that cash is very tight, imv.)
if so, then suspension is looming for ADME within the next 2-3 months.
(or an absolute bargain-bucket placing, accompanied by umpteen
warrants getting rebased yet again so that insider types don’t lose?)
it still seems rather odd imv. that there have been no TR1s, or any
other kind of explanation from the company, of those two recent
trades for precisely 1,176,471 shares, which were exactly the same
amounts purchased by two directors in the march 2021 placing.
funny coincidence.
no news on PetroNor / Panoro either
there deal had a stop date of today
(and no mention of any progress towards that pie-in-the-sky
planned further drilling of aje to boost production in 2021 from
3000 bopd to 9000 bopd …. exposed as fantasy land, again.)
results delayed, only announced by company
at the very last minute. v poor communication.
*serious* fall in production from the two aje wells.
(every year they come up with another excuse,
but those wells are deteriorating / depleting.)
no mention of any reduction in the excessive *admin expenses*.
no mention of DBI, & no mention of marginal oil field awards.
no mention at all of any date by which project debt will paid
off (presumably not until H2 2022 at best, given the expensive
short term loan that the company has had to roll-over into ‘22).
i think they are trying to hold back the full accounts until after they’ve
been able to get another placing away on the back of CPR chatter. jmv.