Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I think you'll find it extremely difficult to find a company, (Rig services), that will pay a "as per day" compensation for the precise reason of the frequency in all rig operations throughout the industry...In other words it could nearly be deemed as norm.
Again you're expecting too much from ADV/CVN... quite honestly i'm a bit pished at people knocking the BoD, when they themselves are tapping their fingers on the proverbial table.
...And guess what, the oil isn't going anywhere... shock, horror!...it'll still be there when WE get there! Chill out ffs.
Hms, seriously. Rig handover is within 2 weeks. We are still in that time frame.
If you can't handle a small delay (which is perfectly normal for o&g) then you need consider what you invest in.
Not everything with o&g goes smoothly. Peterson is not.in control of the Jadestone workovers.
With the ship movements around the rig last few days it looks like they may be wrapping things up. Ready for the handover....imo.
AJ..
"In general I am in agreement with you on the vague communication from the company and with Peterkin's (your Peterson?!) background and experience I'd have expected better"
I was taking this that you thought the comms from Leslie was poor, which i cannot agree with i think the comms from ADV as been excellent. We can at least agree to disagree. atb J
I nice again jezzac thanks for highlighting all the previous communications, all of which I saw at the time- indeed they were the reasons I invested in the first place
But now is the time push comes to shove ( or spud) and we’re being left with unfulfilled promises which begs the question what is going on
Peterson needs to go on his desktop and give an update, proper update with a bit more details rather than plucked from the air timescales
The rig is not moving !!!
AJ i cant emphasize how much communication this company as put out over the last year, it puts most AIM compaines to shame and the only thing they cannot control is the rig handover, the rig was a month late getting to Jadestone and now we are having to wait a few extra weeks before we get the rig. Im sitting here laughing at the idiocy of some posters who cannot wait a few extra weeks for due diligence to take place and rig is handed over. What did some expect.. Rig will be handed over at 9.46am on Thursday 2nd December :-) I know its frustrating but if you cannot handle a small delay then im afraid investing isnt for you.. Maybe go into horse racing instead, at least you know you will get an exact time and place the horse is running and you can blame the jockey when the horse doesnt win.. :-)
I thank Hezzac for the communication just quoted but frankly it is not enough at all !
Firstly we have had similiar communications about spud being early November, mid and latr November - all failed so far.
Secondly we could do with more info about the required licence
Thirdly what penalty arrangements are there favourable to us ( if any)
The relatively latest preparatory movements - why the heck should we ha e to rely on these day updates some ami get us so nicely provide
This type of business amongst other things requires confidence and Peterson is simply not helping
Not sure what you are going on about Jez! No one a criticising the frequency of news, nor the long term vision.
No more from me. I rarely post and was just taking up a point with HMS.
GL.
What about all these presentations, is this not enough.. ??
17th Nov 2021 https://www.youtube.com/watch?v=S3q8Wu-Sg5A
29th OCT 2021 https://www.youtube.com/watch?v=TmymOhlAKIE
11th OCT 2021 https://m.youtube.com/watch?v=UZh1gj_Kj5I&feature=youtu.be
7TH SEPT 2021 https://www.youtube.com/watch?v=EHQJfR2qf3E
6TH SEPT https://www.youtube.com/watch?v=zBtMEKyFPQk
5TH AUGUST https://www.youtube.com/watch?v=39bjWG0ta5U
2nd JULY 2021 https://www.youtube.com/watch?v=jKVm5FxwT1o
30th APRIL 2021 https://www.youtube.com/watch?v=4PlwQKvWeVU
19th APRIL 2021 https://www.youtube.com/watch?v=dbFLPCnQAFw
1st APRIL 2021 https://www.youtube.com/watch?v=Js0UkFudzpM
11th JAN 2021 https://www.youtube.com/watch?v=CNnf6BVBFGU
29th Octo 2020 https://www.youtube.com/watch?v=PYtGu7dXz4c
8th OCT 2020 https://www.youtube.com/watch?v=-1LFhfSs_w0
27th SEPT 2020 https://www.youtube.com/watch?v=Lnt5gmvJRso
30th June 2020 https://www.youtube.com/watch?v=ADmqaWm6788
Jez, I am in buddy, fully invested and happy to ride whatever it takes. I am not 'moaning' about communication. But not living in denial about the point being raised by HMS. I have already said, 3 parties are controlling the time lines and Leslie must also be uneasy about giving interviews where he created a lot of euphoria about end Nov drill. Check the excitement on the BB around the time of the interview. I have no issues with the so called delays, but the market will judge us on meeting time lines. I am comfortable riding this phase.
is this not enough ??
"We are pleased to note that the drilling preparations are all going smoothly and that the Operator has confirmed the rig handover will occur in a couple of weeks. The drilling of the Buffalo-10 well is a major event for Advance Energy and we look forward to providing further updates at the appropriate operational milestones."
AJ
How much more communication do you want ?
Jezzac : would you care to discuss if I’m tge firmer or the latter ? I’m very happy to discuss
@HMS
In general I am in agreement with you on the vague communication from the company and with Peterkin's (your Peterson?!) background and experience I'd have expected better. Agree with your past points that number of timelines have been missed. I am also intrigued as to why the final permit has not already been received. I tracked past rns's and the only reference to a permit I could find was back in May 21 seeking government approval for drilling by CNV.
Now re the newsflow, there are currently 3 parties in the frame - JSE, CNV and ADV - in that very order. So, that somewhat 'excuses' Leslie for the quoted timelines. You would note no mention of company names but 'present operator' as no one wants to rock the metaphorical boat.
From each company's view point, apart from the costs of extended lease of rig, JSE want their work completed, albeit delayed. CNV, whilst keen to commence B10 drilling are not overly pressurised as they are on a free carry (farm out agreement), except they will be responsible for any costs above £20 mill. The onus is therefore on ADV (LP) to be pushing for answers. He can only go by what CNV tells him, hence the identical rns as CNV - re. 2 weeks.
Pretty much out of four hands, but I agree that Leslie needs to protect his and ADV's early reputation and either demand better comms from CNV or someone needs to come clean (even JSE) what the hold up is.
I am committed here based on my research and added my final batch y'day. I intend to ride it now beyond the drill and like others wants to see the rig floating in the right direction 'soon'.
DYOR, GL.
@ukchips..There is a big difference between reasoned and balanced questions and moaning and lying.
Careful Hms687…how dare you, no dissent or reasoned and balanced questions allowed on these boards by twitchy new investors…I thought that seasoned investors like you already knew this by now? Everything progresses exactly as CEO’s say that it will in the given time frame that management says that it will and nothing ever goes wrong…give me a break….lol.
Who the heck cares who announces first.
I’d like to know the odds on yet one more deadline being missed- possibly evens I’d say.
Peterson has been leading all up a right country path and I’m sure the shorters and the fraternity in the know are milking it
Adv if good managements should’ve built in nice cosy penalty payouts to us fir each day the handover was delayed
I've got a Friday top-up coming if not too late, so hold your three-legged horse;)
I'll bet all of you that this rig moves by the weekend!
LOL!
I am on holiday but car is in for a service tomorrow morning so ill be out for the night as well.
https://gyazo.com/ef06b879e5c89817d4104152ebbc9a49
What you're not already staying up all night!
Pitlick 8/1
We will all give you the first chance to top up, Piltick. How's that?
My bet is on Piltick, so don't let me down. Get a crate of doughnuts because I expect total commitment.
Apologies to Leslie and the commendable DPYC.
What's the prize?
Will it be worth my while staying up all night to watch?
Who gets to us first with notification that the rig is on the move?
DYPC 1/5
Piltick Evens
Leslie 'A further update will be provided upon mobilisation of the drilling rig to the Buffalo Project location' Peterkin 4/1