Member Info for blissful

Static share price! This time last year it was under 1p, about half that actually, now it is well over 7p and looking to go a lot higher. I originally bought some for just over £3k and these are now worth over £40k. I have been topping up, the most at 3.4p and these are up over 100%. I added again at just over 5p in June and later at 6.3p in October. This goes to show what a gem this share is and the chart is basically on a continual rising trend. Of course, some will sell a few once it 10 bags but there is always someone ready to pick up the slack. I still have mine. Hopefully, we will not get a big spike as that often seems to have a negative consequence.
I don't speculate or make my own opinions about what the company should do as the board is better qualified to do that than anyone. This is one share I can sit back and enjoy.

Yup, we couldn't have timed it better.

Should have been, 'not too vocal'!

JohninGsy. There is quite a lot of info on the company website under presentation.
They are supposed to have a debt facility of $125m to fund development, looks like a fund raise but they are too vocal about this at present - they will only need money if there is oil to develop!
https://www.advanceplc.com/media/1085/adv-marketing-presentation-final-140321-v3.pdf

Advance subscription into Carnarvon Petroleum Timor (100%, licence holder)
• Advance to earn up to a 50% beneficial interest, by
• Paying up to 100% of B-10 appraisal well at estimated cost of US$ 20 million, plus
• Securing funding for 100% of development Capex to 1st oil

The drill has been paid for so $20m, at least, gone to Carnarvon already.

Equity Raise
• Equity raise of up to US$30 million to fund the transaction in Q1 2021
• Expected to be filled through a mixture of retail & institutional investors
• Directors expect to subscribe for up to US$1 million
Subscription Agreement: Use of Proceeds
• Advance to subscribe for equity in Carnarvon Petroleum Timor (100% licence holder)
• Advance subscription funds to be used for drilling of B-10 appraisal well
• B-10 costs above US$20 million to be funded equally by partners
• Option to fund • Example: If Advance provides only US$10 million for B-10 the equity earn would be 25%
Development Capex Funding
• Advance to source development Capex debt funding of US$125 million (CPR estimate)*
• Expect to secure at least 70% third party debt, with balance loaned from further Advance equity raise
• Directors anticipate strong interest from third party debt providers & offtakers in South East Asia
• Advance debt has priority repayment ahead of the payment of dividends until repaid in full

First year gross Buffalo, FCF = US$ 276 million (£205m), (current mkt cap £44m, $59m)

AIS cannot be switched off, save for very few exceptions.

According to IMO guidelines provided by Resolution A.917(22), AIS should always be in operation when ships are underway or at anchor. Only if the master believes that the continual operation of AIS might compromise the safety or security of the ship, the AIS may be switched off. “This might be the case in sea areas where pirates and armed robbers are known to operate.

http://boglione.eu/approfondimento/can-the-automatic-identification-system-ais-transponders-be-switched-off

And possible farm in partner, gas sales, rig contract/dates, new acquisitions... what a gem this share is

We should get an RNS to tell us the rig is on the way. This is from Malcy's blog 22nd September:

Leslie Peterkin, CEO of Advance Energy, commented:

“Advance Energy is pleased to note from that everything is on track for the Buffalo-10 well to spud in early November. As noted in this update, the joint venture has been working hard to ensure everything is lined up to enable the safe drilling of this material well for the Company. The joint venture is confident of Buffalo-10 being both a geological and economic success, and is therefore laying the groundwork to bring the field into production on an accelerated timeline. We look forward to providing a further update to confirm that the rig is in transit to location in due course.”

I am exceedingly excited about the arrival of Advance and looking at the numbers for Buffalo I find it difficult to think of it as anything less than a very real chance of making proper money. Given that RISC Advisory has estimated that the well has an 85% probability of confirming a development, including a 95% chance of technical success I’m trying to see the downside in investing right now.

Is it only a 20 day drill luckyman2, I thought it was longer but maybe I was confusing it with another drill? 20 days should certainly give us something before Christmas.

Yes, almost too much oil I think from what he was saying and his body language. Really good news for us and everyone concerned. This is the show of the century! More news to come in the next few weeks, flow rates, CPR, drilling rig contract/dates possibly, could be a JV partner to help speed it all up, more acquisitions to add weight to the $ms already flowing in, gas sales from Paradox - from the site (cuts out the middleman!)or the pipeline. Phew...

At about 46 seconds he says, 'we're getting a beyond thrilled with the results so far...' Then again the t word at about 2 minutes as it unfolds to expectations. And again at about 6.45, '... just thrilled to be in this position...'

Watch the video again Oilworker1 and I will be very surprised if you are not thrilled to have put your money here, I am.

PS Did you watch this from yesterday. Oh, I see Islandgirl has just mentioned it.

https://www.youtube.com/watch?v=PHSpsVZhhQE

oilworker1. I am under the impression it has been a mammoth task to overcome logistical problems mainly due to a lack of drivers etc because of Covid. This is a world wide problem by all accounts. Perhaps this has meant the facilities have been stretched to the limit as it does appear we will see higher than expected flow rates once these facilities have been expanded, something the company has said they have in hand.

Yes, could be sold from the site! Or put into the pipeline.

NM These are his words, mostly spoken with a large grin.
'I would love to bolster our resources, whether it's through JVs, you know, financial partners, or acquisitions that give us more runway to cash flow. We'd love to continue to build this side of the business as long as it's ... to properly develop the Paradox out. That's where we are', grins gets bigger. 'And soon there will be a lot more news (he can't keep a straight face) from us in the coming weeks (laughing now)'.

Yes, you got it right! Excellent news. This has to be the share of the year again.

Have we actually had a delay, I don't remember any specific drilling dates except November 2021?

103m according to LSE but the real figure is 1,027.61m, MKT cap 42.90. Go to ADVFN fundamentals as they are on the ball, LSE are a bit sloppy and unreliable for any serious investor.

https://www.malcysblog.com/2021/11/zephyr-energy/

Use ADVFN for financials as they are reliable and on the ball.

Unknown123. They said 'in the coming weeks' on the 29th October RNS. Here it is:
-----------------------------------
Next steps

With the WSU approved and operational, the Company will continue its detailed planning for the next phases of development of the Paradox project - both on the WSU acreage (which consolidates the majority of the Company's historical footprint in the Basin) and on the acreage recently acquired in the Utah School and Institutional Trust Lands Administration ("SITLA") auction in July 2021.

While the Company's future drilling plans will, to some degree, be informed by the performance of the State 16-2LN-CC well, it is currently planning for the following future operations on the Paradox project:

1. A second well targeting the Cane Creek reservoir in the WSU in 2022
2. A development well on a recently acquired lease located in the historically prolific Cane Creek Field (south of the WSU) in 2022

3. An exploration/appraisal well targeting the WSU's shallow Paradox Formation in 2022/2023
It is currently proposed that this activity will be funded from cashflows from the Company's non-operated portfolio and/or from revenues generated by the State 16-2LN-CC well. Further details on each of these three planned wells are set out below.

The Company is also planning to immediately commission an updated Competent Person's Report ("CPR") on its entire asset portfolio, both operated and non-operated assets, once the production testing on the State 16-2LN-CC well has been completed in the coming weeks.

Colin Harrington, Zephyr's Chief Executive said: "I am absolutely delighted that Zephyr has gained approval for this new Federal Unit - the White Sands Unit - named after the former U.S. missile testing range on which a large portion of our lease acreage is located.

"This approval is a direct result of the successful operations completed on the State 16-2LN-CC well to date, and means that we now have a strong framework from which to hold our lease acreage for the medium and/or long-term. I'd like to thank the BLM and SITLA for working closely with our team over many months to form this Unit - it's a major step to enable the future development of the Paradox project in a systematic, commercial and responsible fashion.

"Over the past twelve months, the work conducted by Zephyr's technical team and our third-party partners has significantly enhanced our understanding of the Paradox geology. Going forward, we will seek to utilise this knowledge, combined with cash flow generated from both our operated and non-operated production assets, to deliver additional wells located on our existing leases. If we identify further attractive and accretive acquisition opportunities that fit our stringent acquisition criteria, we'll of course pursue those deals in parallel.

"As always, we'll endeavour to generate additional Shareholder value whilst being responsible stewards of investors' capital and responsible stewards of the