Firering Strategic Minerals: From explorer to producer. Watch the video 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.
Watch this space
no sign of that good news yet frobert.
… how long do you think it will be?
Front Puffin FPSO will be in Ghana to be rebuilt on the 12th of March so that explains why NNPC reported Aje at 99000 BO non production ( 3 months?) why no RSN during a high oil price regime? It seems Ginsky must have gone on vacation as he had an inside track to ADME? RangeNoResources says all is great, impressive volume once again
ginksy started posting on ADME a year ago this weekend (from 12th march ‘21)
share price then was 4.15p …ginksy has remained consistently positive about
ADME, all the way down to current 0.70p one year later, more than 80% lower.
If there’s no production and there’s no money how is this still a going concern?
if it looks like a duck and quacks like a duck...
looks more like a dodo to me.
No news, total silence from the ADME Management and the board, share price drifting lower all the time with low volumes then a day like this where volume is up but price keeps drifting lower Does anyone know what the plan is for ADME? I see Bonny is $110/bbl
A little bit of activity today - not a lot, but a little
watch the volume also … s/price up but only on 1 million trading, share
price down yesterday on 3.2 million; - yesterday more ‘active’ than today.
I see people selling shares dumping about 1.3 million ~7000 gbp, but the 1 share trade i don't understand, i could fathom if it was trying to drive up or lower the price but 0.65 vs 0.655 does not seem logical . Could someone explain what a one share trade means with no price differential? Sorry to show my ignorance
Good news on the CPR! :)
The CPR isn't too bad - decent reserves in the p90 column
still need to wait on courts - but i would be surprised if we aren't in driving seat as we couldn't get a CPR report easily without getting access to the field via our partners
blimey, if that was the good news, frobert, then i‘d hate to see the bad!
they will have almost zero cash left, imo. they desperately need
to do another placing very soon indeed, but if that was the news
they wanted to base it on, not much hope. if they can’t place
above 1p (lol), they will need to make any placing conditional
on a capital reorganisation as ADME shares are 1p nominal value.
patience spikey, patience.
lol, i have plenty of patience for the things that matter to me, frobert.
but ADME is v/ rapidly running out of time for yet more fund-raising.
“Xodus has reviewed the relevant available Barracuda
data and has NOT identified convincing evidence as
to the presence of light, producible hydrocarbons.”
(emphasis added by me)
… no wonder they didn’t put out an RNS about this CPR last summer, as
originally planned! - it utterly fails to support osa’s implausible puff &
guff about ADME getting 4,000 bopd from a first drill in Q4 ‘21. ? i guess
they have put this out now b/c they have nothing else they can ramp with?
given ADME’s previous playbook, the next step might be to try to
RNS about some supposedly rich provider of finance that ADME have
persuaded to come on board .. that no-one will have heard of before,
but who will sound a teeny-tiny bit like someone genuinely rich that
people have heard of … but who will then totally fail to stump up any
meaningful finance. (OPDC, sheikh & DBI spring to mind as previous.)
they will be scraping the bottom of the barrel for mug pis
stupid enough to fall for it this time round, although tbf
there is a pretty thick sludge at the bottom of the AIM pit.
back on 21st jan, i estimated that the last placing
would see them through to about the start of april.
nearly there now … so let’s see how many more
miles they can squeeze out of the empty fuel tank.
Am I reading the CPR results correctly?
15pct COS (chance of success)?
How’s that going to work?
they have zero reserves & no discoveries at barracuda, with all those
prospective numbers being on an unrisked basis too. and ADME has
no cash to develop anything, & zero credibility to attract enough cash
to do anything meaningful. all they managed at the last supposed
placing was enough cash (on a net basis) to pay about two months
worth of pay & perks, with nothing left over to actually do anything.
? how on earth is this company still a going concern??
dan, re your 10:06, ADME does NOT have any *reserves* at all
at barracuda. *prospective resources* are very, very different.
(i am guessing that you do already know that, and your post was
simply a kind of typo? - but it would be unfortunate if someone was
inadvertently misled into thinking ADME had any reserves there.)
don't think we could class them as reserves even if these were classed as bookable reserves until the court case had een concluded
the 'prospective resources' in the CPR report are decent, we need to wait until court to see if we are even going to progress the site, then we need to worry about proving up, further drills and then production - which all going to take significant CAPEX - but the economics of the deal is we get paid more the more we spend - so its a catch 22
The more we spend, the more we get
The more we spend, the more we are going to struggle with funding
In all honesty, the funding requirement is going to be huge, so it can't come from dilution - so its got to come from an actual proper funding source, likely to be repaid within a short period of time - the rates will be high
the court case is neither here nor there,
CPR shows ADME has nowt worthwhile.
even if the court case is won by ADME, ‘prospective resources’ are not
even remotely close to being reserves. ADME has made **no discoveries
of ANY sort at barracuda **, let alone demonstrated anything about the
technical feasibility of any recovery, & costs. barracuda is just a spoof.
- not a hope in hell that any “proper funding source” is going to
stump up to throw money down a muddy hole in that swamp. jmho.
… just in case anyone’s unsure about the difference between oil ‘reserves’
versus ‘contingent resources’, versus (in particular!) ‘prospective resources’:
https://www.spe.org/industry/docs/PRMS-Guide-for-Non-Technical-Users-2007.pdf
Looking popular today on the buys
looking popular today on the buys …
… four trades, totalling just over £500!
wow, things are really looking up for ADME.