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LOL.. Im not sure what part of the countless interviews, Youtube vids, updates, QnAs, Presentations, RNAs leads investors to believe ADV havent been communicating with its shareholders..
I regret not buying more at 3p range. I own 2 shares, ADV and KIST.
I’m going all in on this one. Not one of my shares will be sold until after results are announced. And at that I will be holding all my shares longer, right to production. This is a unique situation here. Remember that. And also remember, another project will be announced (very?) soon, meaning my share holding will not be solely dependent on the fruits of Buffalo.
All vessels within a couple of KM
Just for absolute clarity, it’s not the delay that I’m angry about. I’m angry about the communication used (abused) by Adv.
Clearly many in here have polarised views which dosent afford criticism of Adv and obviously that’s each persons perogative.
The good thing is that there is something like a 90% chance we will all be celebrating soon anyway so that’s a huge positive
Unfortunately some people (not necessarily on here) expect to be baby-sat by these companies. I don't think anyone would accuse Apple, for instance, of being badly run and do they communicate with their shareholders more often? No. If you wanna sit with the big boys then you've got to be a big boy and accept the realities of that sector you are investing in - e.g. pharmaceutical stocks, exponential timelines for progress, O&G drilling, delays. Anyway, the gripes will be gone in accordance with the number of fingers I have.
Very succinctly put.
From what I’ve learned, O&G works on ‘loose’ timescales as there is so much unknown that occurs in drilling.
For example, if the rig needs to side-track due to problems with the original hole then this extends the drill time. Until they actually drill, they don’t know what they will encounter and timelines can only be estimated.
I find this on-going questioning of ADV in terms of the timeline and what constitutes good communication very odd. IMO, they’ve communicated well and I’m chilled about this.
Someone I know with good O&G experience told me that delays are common and several months are not unusual.
Here’s to a price-drop tomorrow - Xmas sale time for me :).
@noeasy,spot on mate, we are dealing with the elements and sediments here ,and i know what the hell he meant and also what he said he meant . .did you see what i did there? not long now .atb.
Although nothing is guaranteed, I'm actually of a similar view. I usually sell most, but in this case I will just top slice a few more in the next month and keep most medium term of at least 2-3 years. My take is that even a bad result ie on the lower end ie say 3,000-4,000 bopd should still be commercial and more than justify our current market cap and other deals will follow. As many will take a similar view and as many are still sitting on the side-lines to jump in I think that we will continue to push higher into spud and results with a lot of excitement building over the weeks to come.
Sorry Hms not wishing to prolong this further but it wasn't made clear to you nor anybody else that spud 'would be' early November etc. It has never been that definitive. How could it be when the release of the rig to us is dependant not upon anything we can do but upon the operator who presently has the rig finishing with it within their expected window.
I believe the word 'expected' has always been used by ADV and CVN in their releases and always subject to the above proviso.
Even at this moment in time with the rig being in the 'final stages of its current operations with another operator,' and 'the rig handover expected within the next two weeks' we see that a definitive date is and still is out of our hands.
We're a heartbeat away, make it a slow one because we should have cause to celebrate very soon.
Me too NoEasy, in fact I'm considering topping up ta little tomorrow.
SI, Yes it's a fairly unusual problem to have re how many shares to retain for drill results. In normal circumstances with drilling for commodities judging the risk to my money has meant quantifying the likelihood of a duster or an uncommercial discovery. More often than not leading up to results I normally sell many more than I keep. With a circa 10% chance of not finding commercial oil and even less chance of it being a duster I am left staring at a significantly enhanced probability of success here.
I've eventually come to the conclusion that I'm not going to over complicate things with this project and that my decision will follow the odds.
Yes it was made clear to me that spud would be early November; but then it was made clear it would be mid November; and then late November; and then/now mid December. To be fair I know that could mean December 2022 not just 2021.
Look, I’ve been invested here since this years placing and it’s around then that I learnt the importance of landmarks like a spud. Yes of course I realise there can be delays but this was getting ridiculous. Sadly some people have got emotive/defensive about the company and keep praising Peterpans communications - each to their own I suppose. Personally I’ve never ever been one to wear tinted spectacles
Very clear to me but NoEasy for others
LP said in his most recent webinar of two weeks ago that;
'It is out of our control when we get the rig, that should be clear to everybody.'
..........Wishful thinking LP...........
Couldn’t agree more with your comments Bladey. Yes delays are annoying but after decades investing I have concluded for my mental sanity that they occur most of the time with most of the companies I hold. What is needed for successful investing, and as a matter of fact many other aspects of life, is patience, which will help ‘navigate’ , like a rig on rare occasions, through life. Relax guys, look at the positive side ie one day closer. What is more concerning and key is how many shares keep into results, but that’s an mental challenge including greed, rational behaviour and other variables.
Agree, no issue with the board or their communication (in fact, that's one of the fantastic positives about this company. Like the Traveling Wilbury's). It is what it is, no blame laid at ADV's door by me. A trifle two week delay is well worth the investment case of this company.
As for Saint-Tropez, he was on the bb's of 1 or 2 of the other companies I'm in - unrelated to oil - which should disavow some of the more illegitimate theories abounded about him.
Well mate, I hate to tell you this but the only thing you're doing is raising your own blood pressure and I can guarantee you one thing... it won't change the outcome of when the Valaris will move, in fact you could die tomorrow, (God forbid)...and it STILL, wouldn't bring forward rig movement!!
Now, it's a completely different affair if you feel that the BoD are now incompetent and if that is the case, it would be a warning sign to yourself and I would even be quite foreword and say, 'One', would be classed, as you put it yourself, 'living in cuckoo land', by still staying invested in such a company you'd lost faith in. Now, if come Monday and the rig hasn't still moved and still no update, the question now becomes whether you'll still be invested by close of business? If yes, then you are indeed well within the geography of cuckoo land and have no-one else to blame but yourself.
I believe the majority of us here are happy with the situation, by which I mean we are happy with the BoD, have faith in the company and are patient enough to wait for the ball to fall into ADV's court.. if the BoD THEN makes mistakes or puts forward delays/excuses, trust me, i'll prob be the first to complain! Until then I have no reason to criminalise them.
Well Bladey, I certainly do not share your appraisal of the company. Anyone thinks they e updated enough is living in absolute cuckoo land. No one is asking for a costly RNS; no one is asking for divulgence if any sensitive information either. Much of OR is actually free.
I’d like to avoid getting into a to and fro with you or anyone else. But I for one certainly am not happy with the bid performance of late. If the spud and results were do so forthcoming then trust me the markets would not have been so forgiving.
Let’s just hope that there isn’t another ginormous f up for all our sake
@HMS, not sure why you feel you, or anyone else for that matter, needs to be constantly updated by ADV. For one thing, it costs to put out an official RNS, Secondly any RNS has to be done in collaboration with our JV partner IF it affects both companies materialistically and then finally it has to be cleared through Strand Hanson Limited, our nominated adviser.
So these are just a few of the hurdles that I'm aware of, but there may be others, such as maybe the Rig company has to be cleared as it affects their reputation, or the reputation of Jadestone.
As far as I am concerned, the company has been vocal and NOT silent.. I know and understand the gist of the current situation/operations and there is NOWT that can be done about it from ADV's point of view, and now with the aid of DPYC we can, in real-time see any progression, which was never possible in the past.
Furthermore I have been invested in companies that have been silent and trust me, this lot are shouting from the hill tops in comparison!
I learn as many have pointed out that the rig delay can sometimes happen. The f up is particularly in the way the news has been managed (or not) by Adv . In a business where the actual spud appears to be so crucial then you just cannot continually keep revising the date otherwise we’re gonna be waiting until Christmas- not the 2021 one either.
F up as in not keeping investors properly informed- by that I mean more than the odd statement at AGM or RNS. It’s 2021 ffs use the internet, have a direct set up.
F up as in the crap global so called new variants - though I accept totally that’s not the fault of Adv
Get real folks, people like Leslie Peterpan knows exactly how badly they’re doing and make no wonder theories abound. I honestly wouldn’t be surprised if some in the know shirts have been taken
Yes Leslie is a smooth talker, he has credentials- but these can’t allow him to be carried forever
All I’m wanting, all I’m expecting, is some straight honesty
@noeasy thanks for your comment it’s much appreciated. It’s great to know someone has appreciated my contribution
Great to hear you appreciate my (small) contribution. Thank you.
@DPYC, You don't have to do what you do and still do... Myself, personally, I greatly appreciate it and especially as you pay for the service.. so u didn't have to share if you didn't want to!
@Amin0406, like Seagulls says, price moved up as it did on Friday close as traders/returning investors, bought in, just in case the rig started moving during the weekend and if that happened, they'd have to buy in at a higher price Monday morning. It's just market mentality, in AIM, even more so!
Seems that way! Sorry I never realised! No offense taken anyway.