Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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This could turn from a bad drill result to a great opportunity for Advance. Everyone is panic stricken. We just need to see what Advance say.
Burt2000
Peter Strachan, a Perth-based independent energy analyst, said “the Buffalo field was producing 4,000 BOPD when it was shut down. This result negates any chance that there will be +30 million barrels left. There may be 10 million or 12 million barrels left and that could be a proposition at US$88/barrel oil prices, but for someone else I’d suggest, possibly a group that has access to cheap and mobile production infrastructure.”
https://www.energyvoice.com/oilandgas/asia/381042/carnarvon-gives-up-as-widely-anticipated-buffalo-probe-disappoints-offshore-east-timor/
Kev only comments on shares he’s invested in as far as I can see, probably because he’s normal and not special.
@Torreaguas where did you get the 12 million barrels of oil figure from lol. It was a 12 metre gross column that was intersected. There’s no mention of any amount of oil yet. It could be 5 million barrels it could be 500, nobody knows yet so best not the throw numbers about that aren’t verified.
Totally agree and the first thing I looked into yesterday on this share…so on the sidelines. Im in Hurr at 2.5p and that’s been enough of a ride for my bloopP! All the best. GLA
Kev was probably invested...and again you were probably not, just trolling their bb...again, and again...and again
This is the problem with Binary exploration shares and a reason why i dont touch them anymore, Risk management is key, i am not here to gloat i wish you all well, been here myself also.
Friends. Lick your wounds. Get your remaining powder into the Tullow Train. Choo choo.
A Dead Cat bounce you mean?
To be fair to Bladey and HeresHopin, calamari is a serial troll. I have had to filter him on account of his activity on several boards.
it seems like a turn is on to me, anyone else feeling it?
It will be a full blown cobra meeting. None of them will want to see the SP here...
Do any of the team have warrants / options ?
I bet they are nowhere near their strike price now
@Torreaguas, it's very possible. I believe they're evaluating all avenues currently and coming to the best plan forward before they do an interview to confront SH's with the plan forward. It makes sense.
CVN may have a cash balance of 10MIL, BUT have 4 other projects to cater to... ADV may have a cash balance of 3MIL and just this project, and yet to see forward path. In that sense we have a larger balance than them. Not sure why people can't see these basic facts. I haven't looked into it, but I know that CVN have a few projects aside from Dorado to bring to fruition.
And they're not generating any cash as yet, so from their POV it makes sense to save resources.
12m barrels for advance energy is a lot of oil. They could take CVN share and farm out to a company with production equipment. IMO this is what advance will plan, they simply have too. When they do you will see a big bounce. Bought in this morning by the way. Lets see.
@BlaimThrower, your post is probably more balanced than their post history on this BB. And I can see where you're coming from, but to constantly bang on the negatives without considering the fundamentals is wrong...again and again with headlining posts in that respect.
You or I have no idea of what is happening behind the scenes, YES CVN are out, (not even RNS'd yet), from interview, but their financial position is in retrospect to other projects they need to focus on. That's not the ADV position. Simple as that.
As a neutral observer here it seems you have your head in the sand a little Bladey. I get that you want to hang on to that little bit of hope that ADV might still recover from this but calamari is just stating facts and you're getting really annoyed by it and labeling them a deramper. Just because calamari is telling you things you don't want to hear, doesn't mean they have a short on, want to buy in at a lower price or they are deramping. People like calamari on these boards are the best element as without realists it would be full of 'what if' dreamers all telling themselves and others that there is money to be made here when realistically there isn't unless you're willing to make a massive gamble or are just looking for a quick 10-20% trade.
The operator has walked away because they don't think it's worth it. That should be enough really. I don't know why you're looking any further past their comments. I can't see any other operator picking this up and from looking at the accounting figures ADV are running on fumes when it comes to cash at this point. So I understand you still wish that this well may come good but you have to be realistic. If I had to guess and put a percentage chance of anything ever coming of this well it must be in the single figures.
Got a bit of colour from my broker on the SP and why it tanked so hard, according to him clients at ADV broker, also the twitterati types, were extremely heavily leveraged on ADV several of them, they were buying literally millions before the news, literally everything available was how he described it.
Obviously they’ve had to sell not only the leveraged stock on margin calls, but also physical holdings too, to cover losses, hence the magnified drop, and perhaps a cautionary tale.
He was however, confident there will be a bounce here at some point.
Again Calamari you're comparing cash balancing of TWO separate entities.. ONE with only one project and another with multiple projects... Again purely misleading or just no research on your part or just too dense to understand this BASIC fact.
shorting scum
Another misconception by you Calamari as the NET could very possibly the same as the gross on final analysis...hence the key word "Analysis" .. Have u not mentioned the porosity?? that's funny isn't it mate... or is it you're just a professional at deramping the stock for your own gains... Another charity worker? pmsl
CVN are the operator for ONLY this ONE project with us.. they've moved on because they're cash strapped and can't afford anymore. It's as simple as that.
I thought the net column is to be confirmed, yet people are citing it as fact? The 12m is the gross figure, so the net will be lower than that? The instant decision by Carnarvon to not pursue this anymore, and no comment from LP, also doesn't bode well imo.
bounce coming
Bladey
good post