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@SI, thanks for that, added a fair bit of understanding for me..
so if it was all to be based on a raise would that have to be done based on the price of the currently issued shares, or could it be higher and maybe these shares consolidated to bring them inline with the new share issue price..or ?
Again just for the general idea,
Dai2, let’s be clear I’m just guessing here an time will tell if and when a new deal lands. For us shareholders the optimal option would be a new deal being one around a producing asset which would allow ADV to borrow against it and therefore the shares in issue will remain the same their value could re rate dramatically if the deal is really value enhancing ie it delivers a profit net of borrowing costs. It might be that the deal can’t be fully funded by debt and also some shares will need to be issued, hence a degree of dilution. The last option would be similar to what happened when they funded Buffalo ie money raised by issuing new shares, in this case you don’t have to pay interest on debt issued but you dilute more. Ultimately the share price will go higher if any deal is sounds for ADV. Any deal would imply an RTO and suspension of dealing like when Buffalo was done because whatever we buy would be greater than our current small mcap, but when the relist we should up higher. No idea when this deal will land, could be weeks or months, but if you think they can deliver another deal, this time with hopefully production, you have to be a shareholder before the announce the RTO. DYOR
@SI how would the current shares be treated on the next deal?
just for a general idea
So they are far from finished here.
I think they are shocked by the buffalo drill results as we all were.
They will now try to bring a cash generating deal as soon as possible.
Hopefully sooner than we think.
Yes Patch, let’s wait, as I don’t think a deal can be closed in a few days, and see what the next RNSs tell us. The last RNS concluded: “ … the team has been working on a pipeline of identified, attractive opportunities. We will now turn our full attention to bringing at least one of these to fruition this year. These are value accretive opportunities and include an opportunity with cash flow, which would be suitable for debt or vendor financing. Our immediate priority will be to significantly reduce costs while we assess the next steps for the growth of the Company."
Share - I think the rns said hope to have 1 or 2 assets by end of year! Not near term!
ShareInvesment, l for one take some reassurance from your post, l believe like you this company is not finished by a long shot. The next deal will be just around the corner be patient investors. Regards John.
Muscles, as a large investor, I was shocked by the result, as I didn't expect it. I spoke since with one of the board members and they were shocked too. In respect of Leslie, I don't think he lied, but he certainly got carried away with his comments and guess that the CPR and the fact that the seismic was as per plan at each casing made him over confident. I'm still a large holder, as I think that they will be able, as done when they took over the 'bust' Andalas shell, to raise funds for a production or appraisal deal. Money is always available, even post the Buffalo disaster, for any deal which would massively re rate a small cash shell. How long it will take to close a deal is not clear as it could be weeks or a couple of months, but they will focus on this next deal and have enough cash to get to that stage. One thing which will clearly be very different is the focus on deals where production and cash flow generation are present, which is a must at this stage. Patience required ...
That’s why you don’t put your house in any share. Always. Put what you can afford to lose.
What a laugh. Muscles12
How can you say that you are down here. When all of your post is negative and don’t want to see any bounce
Because it’s worth the risk if you don’t go silly. Obviously anyone who bought at 4/5p are kind of stuck as there’s not point selling now which I suspect is the reason your still here.
It was disaster when the price was over 5p. Now it’s too late for telling people that.
They really need a £20 million warchest.
10 billion shares at .20p.
Looks awful but if invested in cash generating assets anythings possible.
Lots of other companies with more than 10 billion
shares issued.
I would like to think a new investment is weeks rather than months away.
Agreed.
Still hard to believe that they found little oil.
Maybe a change of strategy.
Buy in to ready producing assets.
Of course this requires cash.
That's the worry bit.
Real shame this never came in, especially with Brent at currently over $90, reckon it would've been about 10p by now.
only was in for a bounce out from here with some profit
you must have big balls ..5 billion shares to come into play..
problem with ceg is everybody knows its over..
ceg not a good place to buy but the price came down badly .just for a bounce
i have less far less faith in ceg than here and that's saying something..
the ceg placing was predicted months ago as its the only thing that will keep the lights on ..which is very optimistic at best!
bounce like ADV.... haha
going to buy ceg for a bounce half price big sale on
Really, a company that can’t file their annual accounts, even after 16 months and you expect they can run a business.
Couldn’t agree more. As mentioned before I think these guys have the capability to fight back and that’s why I’m not selling and would buy some here if I didn’t have a large position already. Patience definitely required.
..........If you're stuck in this, it's just a matter of being patient now. It's trading close to it's cash value, so it's just a case of putting this in the back of the drawer and waiting now.