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1.3m Mcadder?
Chuck a few thousand in for me won't ya,
I don't mind waiting till Christmas.
That would need all 4 partners in the JV to agree, and the costs for doing so would have to be paid somehow. Doesn’t help that there are no signs of any of the other partners planning to do that, and hasn’t one of them gone bust? Extending by 20 years looks like a sensible measure that any company would take when their lease is getting near to renewal.
Feel sorry for those that bailed out at 4.75-4.85....glad I added further the other day at 4.93 now holding 1.3M here gla
The RNS still hasn't shown here yet,
There sometimes slow in LSE.
Big buys too. That's 362k shares in the past 4 trades alone.
Im not surprised, all the share's are being bought up
Starting to move up with each buy now...
So they've now bought 767,902 shares since the first tranche of placing, to fully replace the dilution. (Before the placing they were at 19.24%, but they're now at 19.29%). They obviously regard the currently depressed price as a chance to top-up, and it seems wish to hold a position just under 20%.
We still don't know if they are doing this as their own investment or on behalf of another, or what specifically they see that means this is an investment they want. But it's clear that they see the current price as good value.
seen
10.34m shares with Peel
got to remember that most sells from PI's go into Peel Hunt holdings
PEEL holding here is certainly interesting. Could see a fairly big move back up soon
My point exactly.
Holdings RNS
Peel hunt HG as increased his holding from 18.60 percent to 19.29 percent.
Something is definitely interesting him .
The rns hasn't shown here yet, but the increase has moved the sp up.
Lazarus you are talking about just the 2 wells - don't discount the potential reserves should the aje field get developed. If there were no plans to develop it then there would simply have been no point in the 20 yr extension......
"Aje is primarily a gas condensate field formed in a four-way dip closure trap. It contains gas and oil in the Turonian and Cenomanian reservoirs and an additional gas layer of the Albian formation.
Gross contingent resources of the Aje field are estimated at 380 million boe. Of this 28% is oil / condensate, 20% is LPG and 52% is gas."
So potentially over 106 million barrels of oil alone not including all the gas down there.
Maybe try some actual research on the CPR? You will find that it’s mostly condensate and lpg. This shows a better split, although if you read the RNS it’s all there in black and white as you put it.
.
https://mb.cision.com/Public/399/2800055/94ce55dea22f3bfd.pdf
That’s why it says “CPR results confirm the commerciality of the Aje gas development”
The recoverable oil is running out.
Reserves don't seem to be running out.
An extension on the licence for another 20 years, so the block must have over 20 years+ of reserves.
Significant increase in reserves outlined by the CPR.
Take a look at the link I'm posting, it's all there in black and white.
Plan for next phase of the Aje Field, expansion is being developed.
http://ir1.q4europe.com/IR/Files/RNSNews/2106/mxoil2019tf_14361845.pdf
With three new strong investments coming, they may decide to sell their 5% share of the AJE field.
Hi Deltalo
They can't increase production for a number of reasons
The two current wells run dry end of 2021, the current wells are at full capacity and production is slowing at a nominal rate in line with the depletion of reserves
the CapEx for Phase 2 is over $1bn from the Operators (full plan is yet to be officially announced)
ADME is only a 5% investor in the AJE Partnership and has a minimal voice in the overall decision process moving forward
If they were planning to use the new capital to increase production do you not think they would have mentioned it as a purpose in the various rns’?
Going the right way or not, they won’t get a penny of revenue from aje until next year at the earliest.
Don't you think this new capital will be used to maximise production levels in the area's.
It's going the right way.
Besides prices pb of crude was $52 a barrel now it's on its way up at $ 58.
How do you work that out deltalo? AJE wont contribute any money until the 13th lifting. Until they any revenue goes to pay off debt at the project level.
“Subject to normal operating conditions with current oil prices and production costs remaining stable, it is anticipated that the project debt should be repaid after the next 2 liftings.
The Company anticipates that the 11 lifting should take place in June 2019.
From the 13 lifting, which is anticipated in Q1 2020, the Aje investment is anticipated to generate material free cash flow for the Company assuming continued stable production and no change to capital or operational expenditure at project level.”
That's good news Deltalo. Need to make revenue to pay the bods wages or the pot will run out , another dilution no way , average down no more it's not a bank for others to use could do with some sun shine maybe spikeyj lol
We will find out who the other investors are on Monday.
The Nigerian oil field Aje is producing good revenue for the company and will be profit making by the end of the year.
The result due should show this, as they did in the final results from July.
http://ir1.q4europe.com/IR/Files/RNSNews/2106/mxoil2019tf_14361845.pdf
Me neither Slowly
Good point, Dan. But as I say, I don't think it can be Stefan for the reasons outlined earlier.
If it’s Stefan it’s bad news, he is a director and potentially in a closed period, if he can sell then OO can buy and if Stefan is selling and OO isn’t buying then there can’t be much confidence, if Stefan can sell it would mean there are no meaningful updates on potential investments
But I won't deny that lots of small rises have been cut short by a single chunky sale - yes, I've noticed that too. I just don't think it could be Stefan.