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Will get an rns soon enough that Simon has stepped down, will be paid approx 50k(from the last raise) as a golden handshake and Robert Arnott will take over, then consolidate (back to 1p for window dressing), possible name change etc etc, rinse and repeat over and over and over, then raise against another unknown rubbish asset etc and it goes on....
I havnt held for many a year but I know the company and directors inside out
Might be worth giving Lekoil a go.
Double Are you still holding here?
Better be quick, can sell 1mill at 0.9 then it drops lower
Must be strong sell
Fully agree. By the way John is selling out
Sucked many of us in during the past few years including me that sold at a loss about a year ago. Gone down in value and potential in that time....admin expenses too high for what is happening which is not much
Yesterday the company tweet -
??The Selo field offers substantial upside with a number of highly productive formations that can be accessed by one well.
today they rns-
At this stage, the Company does not intend to exercise its option to drill a new well at Selo.
You cant but laugh at the audacity
Where's that poster Greg gone ?? Ramped this pretty well . I'll admit I stupidly averaged down cos of his posts ffs
About £300k including fund raise, less costs since period end so little left for the coming months. There will need to be another massive fund raise to pay Director Fees and running costs. Big dilution on the way so I will not be surprised to see the sp nearer 0.10 - 0.12p
see below-
Other administrative expenses
4
(419)
Just the £419,000 this year
Highlights of RNS.
The investment into Eagle Gas Limited, which holds an indirect interest in the Southern North Sea licence, was written off in the year to 30 April 2019. There have been no further developments regarding this licence since the issuance of the annual report.
A reconciliation of the costs for the Colter well and sidetrack was completed in August 2019 and resulted in a refund of c£44k. The Company has made a contribution of 8% towards the cost of the post well review and a review of future seismic options for Colter South. Also included are licence fees for the next 12 months for P1918, PEDL330 and PEDL345 and the recent work on the Purbeck Anticline (PEDL345), including new petrophysics and fracture analysis for the Southard Quarry-1 well. The Company will provide a further update on this work in due course.
In Indonesia, there has been no movement in the stalled Bunga Mas deal.
During the period the Company has entered into an operating services and option agreement in respect of the producing Betun-Selo KSO in Sumatra. The Company commenced the workover program. At the period end, there is a fee debt of $687,000 which Andalas is entitled to receive and is recorded as a financial asset. As at the 31st October 2019 the Company had requested payment for $83k of this fee debt and this is recorded as a current receivable.
The Betun wells produced at an average gross production rate for December of:
BTN01 - 28.8 bopd
BTN03 - 3.8 bopd
BTN04 - 22.8 bopd
BTN14 - 19.3 bopd
The field delivered at an average gross production rate for December of 78.1 bopd with a maximum from the 4 wells of 92.7 bopd. This is in excess of the amount being produced at the time of the agreement (70 bopd).
At this stage, the Company does not intend to exercise its option to drill a new well at Selo.
As at 31 October 2019 the Company held a cash balance of US$42,000, which was to be supplemented by the proceeds from the placing of new ordinary shares post period end.
ADL has never, NEVER, been about results. It's been about massive paydays for the corsair crew to fund a nice retirement.
Anyone who punts here is a mug as they will never get money back from it. The writing has been clear as day on the wall here for years.
Now basing on December of 8bopd to ADL...
Amount owed / what all have spent....$687,000
Say they receive $40 per bopd
It is going to take approx 6 years to pay that back....and even after that they have made zero profit. lol
Good work Simon good work, but he managed to get another 250k for the bod so not all bad for him :)
Time, Simon will soon step down, he has had his pay day, over to Robert now as he is now signing off results etc.
It's time to pull the plug on this sh it now , double up has been proved right again .
Failed project after failed project the worst on aim
The Betun wells produced at an average gross production rate for December of:
BTN01 - 28.8 bopd
BTN03 - 3.8 bopd
BTN04 - 22.8 bopd
BTN14 - 19.3 bopd
The field delivered at an average gross production rate for December of 78.1 bopd with a maximum from the 4 wells of 92.7 bopd. This is in excess of the amount being produced at the time of the agreement (70 bopd).
At this stage, the Company does not intend to exercise its option to drill a new well at Selo.
According to Helpful you will have good news by Friday........
I've been "invested" in this stock for years and lost untold amounts of cash. Have not bothered looking in for the last 2 years. Can someone give me a heads up as to anything interesting and or if this is going anywhere soon. Have done research on this over the last 24 months.
Investing in ADL is like hitting your head against the wall..., it only feels good when you stop. Have a great weekend all. FB
1 more week to go helpful, guessing a lot of buying next week hay lol
Wasn't a sell was a cross trade
So someone sold £25k in one chunk and no SP movement. Looks like we have a buyer in town. Probably a late reported trade incoming.
Excellent timing from someone (not me),
Also FB he states -
I remain of the idea that at this level of market cap the Indo deal was worth a go and we will see if it did work out or not in a matter of weeks and reassess its merits at that stage and see if the CAV connection is worth exploiting further or evaluate other opportunities.
ADL are in no position to dictate anything, ADL have not and can not exploit CAV, CAV have exploited the ADL shareholder to the tune of £500k to fund something they didn't see worth funding. Ive always said why would a multi national company bring in a company like adl of whom just sub contract the work out.
ADL needed something, anything to raise money against and they got it. There is no return for shareholders lol.