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Carnarvon/ADV from their missives have essentially informed the market that they are at this early stage committing time and resources to expedite production. In essence they have risk assessed and see the value of spending money now. We are running both the 100m and a marathon.
Thanks for pointing out the issue with the MCAP on LSE i was beggingin to wonder.
Some people are confusing "Buffalo-10 considered by RISC Advisory to have an 85% probability of confirming a sanctionable development project based on the minimum economic field size"
with
"85% COS on this drill."
We know the oil is there and that it flows but there is a risk with any drill..
Many thanks for the replies, I will get some in-depth research done this weekend, one final question, how much more funding is needed to bring this discovery to production, I know the upside of a successful drill is a great prize and from what I have read so far the numbers are looking very impressive.
I think the estimate was 85% (7/8) chance of commercial production on the last update I think, so 1/8 chance against
mosma, shares inissue now circa 1billion. but i have to say i am very bullish here,this is now my main holding .chance of success 95% bod all with real skin in the game. doyr always,gl staff.
Regardless the upside if Buffalo delivers as they expect will be stellar for a £32mio mcap company.
this looks to be right https://www.tradingview.com/symbols/LSE-ADV/
Mossma I have sent the below to LSE info this morning let’s see:
Good morning
I'm a Premium Member holding Advance Energy ADV shares.
Many posting are questioning the data re Market Cap ie approx £3mio and shares in issue 103mio.
As per ADV RNS on 19 April 'On Admission, the Company will have 1,027,613,961 New Ordinary Shares with voting rights in issue'.
If you can I suggest you update the shares in issue, so that the market cap will be correctly reflected as around £32.4 mio and avoid any member complaints or similar.
I think it's currently 1.03bn shares and £33.14m cap
Hi Staffy, I had a brief read through the website, it isn't just LSE showing a 3 mill MC, it was on another site also, so I thought I would ask the question. The 103 million shares in circulation, is that correct or another LSE typo?
I've been hit with the flu this week so I'm not exactly firing on all cylinders, appreciate the replies.
mosma , check the co.website,they raised £26mil. awhile ago. to fund the upcoming program. so 30 m.ish is the corrct sum.
Thanks for that SR.
Hi Mossma, its a mistake on LSE.
The MC is Circa 30mil
Morning All
Could I ask a few genuine questions, I have done some reading about this company and the prospects regarding the upcoming Buffalo well are very promising.
There are a couple of things that seem to be throwing me though, I see the Market Cap is 3million according to LSE and a few other sites, yet some posters refer to the company being worth 30 million.
Also, the amount of shares in circulation, again according to LSE is just over 100 million, if that is the case am I correct in thinking that around 25% of the shares were traded yesterday.
Thanks in advance for any replies.