RE: Overhang21 Aug 2021 13:55
I have to agree with ST, on every point he's stated. I like to do my due diligence on a company and so far am very happy with ADV's plan outlay and the DD they've done. Fully financed for the plan plus more! The CPR for me was important and the fact it was a independent CPR at that, alongside the IMPORTANT FACT that the BoD has considerable skin in the game!
As far as I'm concerned they're hitting an already proven field in a proven area where the big boys are scattered around already pumping. DYOR on Timor-Leste and you'll see! BHP shut down their campaign due to reasons other than anything related to well volumes and head pressure... So basically we're getting 'Hand me downs', from a very big brother who's hardly wore in his clothes. For an emerging AIM company of this stature so early in stages this is a goldmine.. basically being handed on a plate!
In retrospect we're competing with the likes of Tier 1 or 2 companies such as Tullow, (in which I'm also invested). 20,000 BoPD is no joke IMHO and should all go to plan on the appraisal well, I see a SP around the teens...again DYOR.
Have also been watching the charts on this for the last 2 weeks and the sell volumes are thinning out every day, managed very well I might add in the 3.10 area and rig contract will rinse out any left overs and propel the sp to the next level. News next week will be excellent, and like ST said... timescale is now crystallising to spud and results well before Xmas!
...And yes, there will always be those wishing to get in at a lower price and will surface any negatives they can without providing any support for their claims, but like I said, Do Your Own Research.. and you can't fail!
Good luck all... but with a 95% CoS... very little luck is needed here IMHO!
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