If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Mike,
All im saying mate is your gonna get fooked again. Big big red flag is the directors will not but shares and Simon has 5million only of his own company, not even 10K, Dr Rob Arnott has 0 shares.......... And you live in hope that something may come. of Indonesia if buts and maybe. if they produce a low bopd over the 70 say 50 more that gives the directors a steady income (paying back they got from investors in the first place) for their retirement. Open your eyes man
doubleup this is well known, we have all stated this as part of the proof of concept arrangement, no one is disputing that. Also many times I have said I am not investing further or saying people should invest but like many on here have been tied in from earlier investments seeing the sp go so low there is no point cashing in at a 80% loss.
I will ride it and see if the sp can recover to the 0.3's where my book costs are.
It was a compliment, albeit back handed. I may not always agree with you or doubleup but I have the respect that you are both knowledgeable with reasoned posts.
I expect the next RNS will give an update of future direction of further work and the terms relating to the revenue from this, which I expect and hope will not have the same 'proof of concept' criteria as the £50k has.
atb
Miker u are wrong, it doesn't matter how many barrels over 70 they get, they still only get back the 500k invested. It only changes how quickly they get it back. Its a zero profit deal of which only the directors benefit if it comes off, they gambled with investors money to hopefully get some money for themselves...... can you not see the wood through the trees. This is not an investable company hence why Simon only has 2million shares, even he knows investing will see little if any returns.
Ouch. Honest question.
Corallian's gaffe and reiterates my post 2 days ago that it's all about Indonesia and further deals with CAV, that's it in a nutshell, for me anyway. The only important RNS is the one due stating final stable production rates from the work overs.
atb
Lol
FB the one thing you are not is stupid so please do not pretend to be, neither are you a beginner.
Mike. Thought I might have misread the loan note. Always confuses me. I thought they had to reach 150 bopd to be able to draw down the second tranche of the loan note. Is that correct? Also confused when ADL starts to get revenue? Could you explain it to a beginner. Much appreciated. FB
Ryanair doesn't fly to Indonesia. As far as working on the flight goes, 'The Gringe' must be having a fabulous time working on his appetite. Business Class on Emirates serves up some wonderful food, or so I have heard.
You have to go when you have to go. Shopping around for a Ryanair special is not always an option and he or they (plural) would want to work on the flight.
Doubleup, they will never get it in a month of Sundays. It's there in black and white and I have only highlighted the incurred travel costs let alone anything else. Give me strength lol...........
You dont get it...
As always the company claim to not be taking any funds but they do, they take indirectly as per below -
259K spent on "professional fees"
162k spent on admin
152k on "office"
85k on "travel"
$152,000 on Office, that's $12.5k per month on a serviced office lol look back through previous.
Helpful; return fares to/from Indonesia are around the 500 quid mark if u shop around. How on earth does this equate to £85000 pounds sterling?
FB you are correct in as much as yes you totally misread that.
I am a bit concerned that ADL doesn’t have enough cash to get to 150 bls. I think they had to get to 150 before they can draw down their debt facility again. Either I misread the financials or there is a real wall of no cash we have to hurdle. FB
and very decent not to take their full salaries so as to keep costs down, they deserve a bonus once the already cash flow continues to build.
:¬)
You can't get a bus to Indonesia.
85k spent on travel. This seems rather a lot and I can only assume this wasn't Economy Class. Can anyone elaborate?
I know I checked but I am not a shareholder in those other companies. I did bring the Corallian information to the company's attention and to the attention of the broker and NOMAD. I don't know that the same information was brought to the attention of the other companies.
Thanks
Far enough Helpful, when you put it like that it's a valid point, nothing though from other interested parties RBD, UJO, BOIL etc.
Re Colter/WB
As I said Corallian put an NPV10 calc of £157mil on Colter South and £60mil on Purbeck. They also stated that there were multiple targets and that a farm out process had started. There was no provision in the fund raising for exploiting WB because they expect it to be funded via a farm out. In my view that is pretty material and ADL should be publicly disclosing it and we shouldn't have to hear through third parties.
DYOR
Be interesting to see if they can get near the water / oil processing volume of 6500 bofpd, the historical 70 bopd was from 2,000 bofpd I believe so if declining rate can maintain at least 3% by volume we will exceed target of 150 bopd.
Colter / IPO may be just in the very early / planning stages and not enough meat on the bone for an announcement yet
atb
Looks like they can is an understatement.
From 70 bopd to 150+ bopd is a big step up. The next thing is work out if the decline curve has changed. If they can replicate that level of step up across a portfolio of fields whoever is the partner will be very happy.
PS I am still not happy about the level of disclosure re the Wessex Basin assets. The comments today are at material variance with what Corallian have put in their pre-IPO presentation.
DYOR
Been here a million times with the £500k, it's about Proof of Concept and the additional work which will / could be put our way from CAV. These 4 wells have always been about can their production volumes be increased. Looks like they can.