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How much is Stefan being paid these days? In his last tenure he was milking >£250k per annum
Just go and download petronor annual report it tells you all about aje.
FIELD DEVELOPMENT
The redevelopment of the Aje field involves
field development activities. These include the
re-entry and completion of existing wells, the
drilling of new wells, and the installation of Subsea
Production Systems (SPS) & Subsea Umbilical,
Riser and Flowline (SURF) packages. From a
refurbished FPSO, the field will be connected to
shore by a 30-km gas pipeline, ensuring efficient
transportation and processing of natural to the
onshore LPG plant located close to the West
African Gas Pipeline (WAGP).
Albeit delayed, significant progress has been made
on negotiations of gas offtake contracts and the
company is moving forward both in our discussions
with licence partners and relevant financing
institutions.
The strategy entails advancing with
a Final Investment Decision (FID) to replace the FPSO
unit, drill more oil and gas wells, and lay a 30 km
pipeline to an LPG plant near the West African Gas
Pipeline's (WAGP) export station. Condensate and
oil will be produced and offloaded offshore while
offtake agreements will include gas sales and swap
arrangement for gas and LPG products.
The plan for 2024 is to proceed towards a final
investment decision on the project which involves
deployment of an FPSO, connection of existing
suspended wells, drilling further development
wells, and building a 30 km pipeline to an onshore
LPG plant close to the export compressor station of
the West African Gas Pipeline.
I see your still around, like some lost pooch.
Dan, I admire your patience, but am also baffled by your loyalty to this share. S shurely there are better bets out there in the investment universe? (but good luck in any case, you’ve always been a polite and reasoned/adult pi on this chatboard.)
Still no real movement and price is still dropping, still holding but this is a waste of time and space
Still it seems you get quite a bit of company here for £2m
Cash flow and potential asset sale could give this a bit of a boost
"At current oil prices, no material changes in the way the facility is run and based on achieving a rate of sales of 3,000 barrels per month, the directors believe that the investment could net between US$30,000 and US$40,000 per month in cash distributions to the Company;"
ADME has been pulling that ‘premium raise’ trick for years — no need to take my word for it, just look back through the RNS history over last few years. they’ve actually used it quite often; it does not then translate into any substantial lasting share price rise or change in the company’s fortunes.
it’s just a way of trying to make ADME’s shares look more valuable than they really are, whilst simultaneously trying to inflate the apparent paper/book value of the ‘assets’ which they claim to be buying into (- especially when those assets are actually coming from associates).
this particular RNS is hilarious; if you look at the new biz they are buying into, ADME is quite literally going to be scraping the bottom of the barrel now.
Looks a good deal surprised, at market reaction so far.
Havent seen a deal like that for some time, excellent job
Commenting on the Equity Subscription and Reclamation Investment Stefan Olivier, CEO, stated: "The equity subscription and cash generative investment announced today are material for the Company. Completing the subscription at more than 100% premium to the current share price demonstrated confidence in the underlying value in ADM, quality of our new investment and the board's strategy that we are executing."
“ADM did not exercise its option to acquire additional Class A Units …:
SO may be “very pleased with the progress “ but there hasn’t been any reaction in the market
.
Here’s to Texas
Wasn't a bad announcement, see what happens now, how much the field is valued at with the new data
Personally I wouldn't say a £9k sale of shares is in the realms of a 'DUMP' haha, as it hasn't even affected the share price negatively.. it's actually up on Google.. ;)
Good try though
(share price reaction, and the 2.5 million dumped this morning after the RNS, shows you roughly what the market thinks of stefan’s games with aje. ADME’s cried ‘wolf’ way too many times with the aje stake for any to take it seriously.)
… just means that stefan is limbering up for another attempted placing.
Interesting RNS - hopefully some good news on the horizon - securing a better selling price for our % of AJE on increased value of the asset!
Someone was in early this morning selling 2 shares to get themselves almost one penny
As far as I can see there seems to be frequent daily dealings In shares here of under £10 stg.
Often only 1 pound. What’s all this about? Checking to see if the market makers are still there?
We should be due the updated 3D seismic results soon