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Double. I agree with you 100%. This is crazy however the investors can see through the smoke as no one is buying this stock. No one.
This is crazy, your support as an investor is that the company are good at raising money therefore diluting your shareholding???
You are in la la land if you really believe what you say. No one else agrees with you hence the zero daily turnover. They are scraping the bottom of the barrel at this point. Just a matter of time. FB
Imo this is certainly not going into administration. 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. I’m relaxed here as ADL are clearly able to get for financial support when needed and are better positioned than other pure cash shells around with no assets nor backing.
Don't we all, SG, don't we all.........
You too mate
I will expect it when I see it and not before, if not 2 weeks then hopefully this side of Xmas :¬
Have a good weekend.
Ah well suppose you have only 2 weeks to wait bud :)
double I think everyone knows the situation, if there are spikes something will have to cause them and its up to those still invested as to decide on their exit point.
Hi Miker,
This is just speculation unless he is inside.
BTW to sell over £20 now its 0.12, sad times and will only get worse over time, sure there may be spikes but the BOD will always take what they want at the shareholders expense.
That is interesting, it’s only the 7th time they have tweeted the same thing since November lol.
Keep coming like this one today, let’s wait and see what happens.
ADL - Operations Update
Andalas Energy, CEO, Simon Gorringe said:
“We look forward to seeing results from the maintenance initative to improve uptime so that we exceed our target production rate of 150 bopd (gross)."
Hi Helpful, your last remark regarding being surprised in next 2 weeks or so does suggest you may be referring to news relating to final flow volumes. Are you of the opinion that ADL are still on track, even if timeline on last workover behind schedule, to overcome the setbacks and complete all 4 work overs.
It is a bold statement to make with an air of confidence in the sentence construction, just a gut feeling ? or have you had feedback, don't expect any detail, just intrigued if there is any substance.
atb mate.
Helpful,
If I was on filter how did you know I posted so you could take me off to respond??
Anyway in response -
1. If ADL converts to a participation and ends up with say 17% of say 150 bopd at $65 a barrel then it will be generating something like $1,600 per day before taxes and profits shares etc so maybe $1,200 net. So $36k pm. Fine it doesn't shoot the lights out but it is not nothing. - this earns all nothing as they only get back what they have spent so irrelevant.
2. The idea was always that this was the start of a relationship with CAV. On the basis of the above, they would be on 83% of 150 bopd at no initial capital cost to themselves so why would they not be happy? Once ADL participates then that is a different matter. - Of course CAV are happy, someone has offered develop their asset and in return only wants what CAV would have spent anyway, Zero risk to CAV for something they didn't see worth spending the money ono themselves.
3. There is a big difference between raising capital for running costs and capex for new assets/new drill. 1 above covers the running costs and I see no issues with raising capital for a new drill on Selo. - Do you know the costs of a drill?? how would ADL raise this cash....
4. The reasons CAV did the deal has been rehearsed numerous times. They want or wanted a partner who they could develop O&G assets with. - hmmmm so CAV wanted to partner with ADL because of ADL expertise?? look at their portfolio and show tell me if you would go into partnership with ADL unless ADL took all-risk.
5. I think that you will be very surprised in the next two weeks. You may not like it but I will. - I highly doubt that as time has shown
Doubleup,
you were on filter because you come out with uneducated, uninformed nonsense all the time and just want to attract attention. I have taken you off filter so I can respond to your latest nonsense.
You have to differentiate between a fact and your impression/understanding/suspicion. There is also no requirement on anyone to agree with or be bound by your impression/understanding/suspicion.
1. If ADL converts to a participation and ends up with say 17% of say 150 bopd at $65 a barrel then it will be generating something like $1,600 per day before taxes and profits shares etc so maybe $1,200 net. So $36k pm. Fine it doesn't shoot the lights out but it is not nothing.
2. The idea was always that this was the start of a relationship with CAV. On the basis of the above, they would be on 83% of 150 bopd at no initial capital cost to themselves so why would they not be happy? Once ADL participates then that is a different matter.
3. There is a big difference between raising capital for running costs and capex for new assets/new drill. 1 above covers the running costs and I see no issues with raising capital for a new drill on Selo.
4. The reasons CAV did the deal has been rehearsed numerous times. They want or wanted a partner who they could develop O&G assets with.
5. I think that you will be very surprised in the next two weeks. You may not like it but I will.
Anyway you are going back on filter. No point in having a battle of wits with an unarmed man.
DYOR
Im here to be shot down guys and please tell me where im wrong but although history cant predict the future it can tell you the way the directors run the company and their "projects" and here its the same each time. Dead projects, raise huge amounts of which the BOD take over time, Simon and the BOD could change but why should they when they receive so much for doing practically nothing
Helpful,
Say all hit 140 bopd and convert the outstanding liability into a participation.....
They then dont get any on the £500k spent and cant raise any money on the CLN to fund a drill which would cost how much? all it does is payback to the company the money they have spent of which will prob go on "general running costs".
The whole deal was set up to get money for the BOD, when will you guys see that?? no return to shareholders, no profit to be made, at best case they will raise more money to drill Selo causing more and more dilution to you guys.
Question is and always has been, why did CAV need all to come in and hire contractors (of which CAV could do themselves), answer - ADL would fund something (through dilution to shareholders) the owners wouldn't fund themselves, why is that lol.
No risk to CAV
No risk to ADL
All risk to shareholders.
You guys are played for fools over and over again making excuses for the people screwing you over, like the beaten wife of whom protects her abusive partner lol
A leopard never changes it spots and this is why the BOD refuse to take any shares in their own company because they know its chucking money away and will never return anything, they prefer to milk investors in raises and pay themselves (directly or indirectly through admin expenses etc etc)
lol
IMHO ie., you have an insight into CAV's corporate mind and decision-making process.
The new drill was always in the future and not part of the current arrangement with CAV. The announcements have made clear that Selo needs to be drilled and is a separate matter. It would only come back on us to part fund the drill if we decided to convert our outstanding liability from the Betun Selo KSO into a participation. As long as the production is in excess of 70bopd less whatever decline rate was built into the model then we have cashflow. Plus the cashflow will be better than otherwise modelled because of the rise in the oil price.
All still to play for here.
DYOR
I suspect that ADL is behind on their payments to contractors. Pulled a rabbit out of the hat for a few sheckles but the worry is no ops update for months, no funds to drill the well Simon has said would happen and no revenue from sales. IMHO there is no way CAV will JV with ADL in future projects if they don’t have the funds to pay their way. I see rain clouds or worse on the horizon. FB
Yep and that’s the carrot the donkeys follow here it’s sad to say bud.
Yet again the latest payday (250k) for Simon and his crew has been raised on hope, as it is all the time over the past years.
It’s madness, why do they need 250k as they have nothing going on and the current “project” is fully funded so no funds need for that. Hmmm have a look back and see if they have pulled this stunt before! You don’t have to look far.
Have a look the way the Lombardir cln player out, see how much they took from the identical cln, then see what they raised after without touching the rest of the cln. :)
It's the hope that keeps you going lol
Lol it’s the hope that kills you.
The very fact that final production figures have not been released does suggest they have hit a problem and agree is the reason why the draw down could not be used. The obvious question is can they overcome it, it is certainly a big ask to go from 2,000 bofpd to 6,500 bofpd and may have bitten off more they can chew to do it in such a small time frame.
Could still come in over the 150 bopd target but how soon. Would have expected an update but quite possibly Simon will be aware that negative news would impact the sp even more than it currently is and will want the next RNS to be the '150' one.
Interesting fact. The turnover for Dec was less than 5 million shares. For a company with over a billion shares issued, the TO says it all. No interest in the story and no buyers. You can argue that it was the Christmas season but Nov and Oct were no different. The free float is enormous which doesn’t help. They couldn’t draw down on the note because they didn’t reach their prod targets so were desperate to raise a few pennies to pay for the mounting bills on BS. FB