The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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No point in telling them anymore tbh, they want to invest they came suffer the fate
Thought I would have a look at ADL the old dog and can still see its a jam tomorrow car crash!
Another old name from way back seems to have done the same - Jarosg. I remember that handle from the good (bad) old days of CEB suspension era. Its like a never ending car crash here isnt it? Cant help but keep looking at it.
DoubleUp kept popping up every now and then to try to warn people about this lifestyle company, but it seems yet again the ADL pump machine has sucked folk into believing this stock will make them millionaires!
Still good to see some old names floating about.
Thanks again Helpful and apologies , just noticed you already stated that you informed ADL in your original post at 12:35.
atb
I mentioned Patchy in my last post and just wondered how he is doing as I haven't heard from him in a long time. Patchy, how's it going m8, how's it hanging me old mucker? I know u are nursing some pretty hefty losses after being involved with this stock (post the Whitby debacle just to be accurate), but hope u are well..........
I emailed it to him on Thursday and spoke to the Nomad on Friday and sent them the presentation as well.
Thanks Helpful, interesting to say the least. I wonder if Simon is aware of the IPO, one assumes he must be.
atb
Well Corallian have a pre-IPO fund raising document out at the moment that gives NPV10 of £157mil for Colter and £60mil for Purbeck. There is no way that they could put that in a fund-raising document unless it had been signed off by a third party. Presumably, ADL has access to the same documentation. I brought this to their attention last Thursday and I am very disappointed that they chosen not to comment on it. The Corallian document also states that farm-out negotiations are under way. "Currently undertaking farmout process to provide additional funds to progress drilling".
So the fund raise is not to fund a drill at Colter/Purbeck/Wessex Basin because they think that they can get it funded for a drill via a farm out. It doesn't say whether the farm out is on behalf of Corallian or on behalf of the JV as a whole.
I don't know but I suspect that the next drill would be Purbeck and that they would look to develop Colter afterwards.
DYOR
Hi Helpful, myself and other posters, certainly Greg25 have stated similar in that not only will ADL offload Colter as soon as they can it will be offered at a pretty decent discount to enable that to happen. Question is until it is proven up for valuation we have to wait before we can monetise but genuinely believe Simon will get rid as soon as he can.
The proceeds could definitely be put to further and better investments.
atb
A lesson for ADL investors over at ADME. I have told ADME investors for a while that ADME should sell the OML113/Aje asset and reinvest elsewhere. The asset is vastly undervalued in ADME: well today it has been confirmed that Panoro its selling stake in Aje and on a look through basis this puts a valuation of about $10mil on ADME's position plus it has about £1mil in cash and carried forward losses etc.
ADME's mc is about £3mil.
In my view we have exactly the same situation here with regards to the Wessex Basin assets. ADL has a vastly undervalued asset and if the value is not going to show up in the share price then it needs to sell and reinvest elsewhere.
DYOR
No Ismalia, I have been posting since the Clean Energy Brazil (CEB) days, before the rampers BigGib, Mama Kamara and Patchy, to name but a few, arrived on the scene - looks to me like they have all ran for the hills - I wonder why?
Perhaps we can persuade Whitby to come out of retirement, drag him away from the beach, so he can can get to grips with the water pump. After all, he is an expert at pumping.
To put in to perspective It shows just how successful Indonesia could be if we get the 150 bopd target and god forbid nudge the 200 bopd in that UKOG the british flag ship for onshore oil is quoting 200 bopd for their Kimmeridge production. We could get this from just 4 work overs.
Pretty damn impressive if they can pull it off and what total production increase could we achieveif we are let loose on the other 19 producing wells in the Betun licence.
CAV here we come, they are only the largest Fund Managers in the whole of Indonesia but it's a start :¬)
They can't even get a water injection pump going lol.....It's one balls up after another with this stock.
If we hit those figures it will be pretty exceptional from just 4 workovers and as you say an incredible endorsement to roll that out to the many other wells in operation, at least 19 more I believe (from memory) in the Betun licence alone.
Then the big announcement of participating interest with CAV and going after the 33bcf gas amongst other things in the Selo.
All that positivity could push us back towards the 1p mark as we hit that and more on just hot air / expectation alone with Colter.
atb
agree miker the volume has picked up the last couple of days, I personally think that the shares could have a massive rally if the bpod is at least 150. Let's wait and see but as mentioned before at least now we have a very good chance with this asset and our partners are already impressed with the team on the ground which will inevitably open the doors for other low risk assets to be worked over.
It is a reassuring buy and not one you expect to be done on a punt so hopefully they are assuming news soon and positive news at that. Have to say I am just a tad concerned that the water injection pump is taking many weeks to commission and suggests problems in getting it up and running.
Lets hope it gets sorted because once it is this will then allow full tilt on the potential 6500 bofpd and even a 97% water / oil cut will still give 200 bopd. totally smashing the original target of 150 bopd.
An unusually large buy. Some one in the know?
Well, it says.. please note I didn't write this and I have no way accessing the source material:
Wessex Basin
Colter NPV10 £157mil Purbeck £60mil. Multiple targets in the licenses.
Farm-out discussions in hand.
Seriously DYOR
Hi Helpful, nothing on Corallian webpage, assuming you have seen it mate, if it is not confidential info don't suppose you can give the gist of it, that said if you are unsure if it is price sensitive then best to let it find its own way to these boards.
Either way reading between the lines your slant suggests it is positive for ADL, me thinks :¬)
atb mate
There is a Corallian presentation doing the rounds: I am told that it is not inside information or confidential. It is worth a read if you can get a copy. What they have to say on the Wessex Basin is pertinent.
2 x 5m buys yesterday only just shown up. £15k would not normally raise eyebrows but seeing as it's ADL it is a decent punt, by the same person by the look of it.
Bought on expectancy of updated flow rate news being soon imo. Can we hit target of 150 bopd.
atb
Interesting - I think you will find that Malcolm Butler who runs Baron Oil also is top man at Corfe. And Baron has a fair stake in Colter. Not 100% but it may be worth checking.