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Really sad to read the stories of big losses some had on adv. I lost about 14k which is small compared to many here. I pray that you can recover the money soon.
Is worth looking at shares that can potentially multibag short term as have released stunning news but the market is just lagging behind in catching up to the significance of the news.
Chariot ( char) is worth a good look and always dyor.
I spouted it on Wednesday at 752 or so. It's not hard to find.
Legal wolf - I read that rns and posted "oh ****" on a d v f n within a minute of reading it.
Hi Rumandpoker - tbh, I think a number of us would have fallen into that error with that RNS. Luckily for me, I did not read it until ~ 8.10am (I usually checks for RNS at 7:30am), by which time, it was clear from the chart what the market reaction was and what the meaning of the RNS was. Even reading it now, it is not immediately obvious that it is a negative RNS. In fact, I reckon if you got non ADV investors to read it now, they would probably tell you 'that looks positive'. All IMO
Advance Energy has agreed to source and arrange development financing up to first oil, which is expected to be primarily in the form of debt
Every duster I've been invested in they have stated in finding hydrocarbons..
Independently certified 2C oil resource of 31.1 MMbbls
Legalwolf, 100% true, although slightly different for myself - I placed a buy order for £6.5k at the bell because in the 3 mins I had to read the RNS I only got to 'hydrocarbons found' - allied to my belief in the project I went for it. If I had had time to digest properly obviously a hugely costly mistake would've been avoided. More fool me, but still not right or fair.
Coincidence or not.
Shouldn't say it but do we have actual proof that the drill actually happened.
Exactly. They obviously released the interims with a really upbeat tone the day before to make sure everyone got their buy orders in. Then dropped the RNS just minutes before the market opened the following day so a lot of people had no time to cancel them. Absolutely disgraceful. Shareholders need answers and justice for this disgusting series of events.
I think releasing the RNS minutes before market open needs explaining. A lot of people would have had overnight buy orders because they would have been expecting the share price to go up and/or buying the dip. Then there would have been people with stop orders at lower levels. All of these orders would have been hit. That's probably why on market opening, the MM took the price up to hit those buy orders before it then shot down taking out all the other buy orders lower down. The people with these overnight orders had no time to cancel those orders because the RNS landed last minute.
Wonder if PK and his “mates” sold all their shares the night before whilst the price was being pushed?!!
12m oil column
Is not economical.
The delay will be that they cannot come up a direction for the business
Who will realistically give them money now ? No one
This company now has shell value only
Blood on the hands of peterkin
It woukd at max be a 2 year field. It woukd cost 150m to drill it. Its over just accept it
yeah everyone on here just turned the rns into false information than brain washed everyone including myself until i read the rns again and snapped out of it
100% 200%.
Much more exciting.
As long as its in the right direction.
It surprising what a little positivity can bring to the board. We know nothing other than what it says in the recent rns.
I just say to everyone still holding.
Be positive.
It’s not going to take much to move it off this price.
I’m confident and excited whilst a little nervous but I feel good.
Better than being in a boring share that moves 1-2% every now and then
i doubt they will give up many other options
Until the rns comes good or bad everyone should try to be positive.
Oil is definitely there. Maybe not as much but still there.
When they check the results they may decide on a small sidetrack,
Even a deviation of 20 metres could make it worthwhile.
The rig is still in place the hole is already drilled.
A sidetrack may only take a couple of days.
Offer the rig operator a slice of the stake instead of cash.
May make the rig late for its next job but weren’t we delayed a few weeks ourselves.
have they said they have walked away by rns or a dodgy website saying they got told they are walking away
agree steve and other projects can be debt financed like angus energy did. the directors here have lots of experience in the industry.
"Seems they have ticked two out of three boxes."
They didn't need to drill to tick those two boxes, that was already known as it was a previously produced oilfield. The box that had to tick was the confirmation of an attic with a give or take 80metre oil column and this box was not ticked. None of the capex requirements will have changed, but the amount of recoverable and flow rates have been absolutely slashed which makes the prospect of raising debt to develop almost zero, Carnavon are already moving on and Advance are not an operator so can do nothing.
There is a slim chance it could be commercial for a cash rich company with necessary equipment, but they have absolutely no need to pay for this - just wait for the licence to be relinquished and then pick it up then for free.
Imo the development will still happen albeit smaller than anticipated using these preliminary figures. Even 4000 barrels a day gives $120 million gross income a year.
Interesting days ahead.