Member Info for DanBrown83

They each took 90,909, not 90090
i thought that one was weird too though
Looks like Align were part of the placing
Directors RNS may take a few days to come through
certainly some weird trades but thats not uncommon after placings - also i have said there has been a string of rounded buys and sells which look like some sort of games - again not uncommon when going for a placing

The best thing to come out of the RNS wasthat the shares for EER stake (albeit from new equity) is at 5.5p and 7p - so the dilution - albeit is significant won't be crippling

its a weird number and i recognised it - its the exact amount he got yesterday in the placing
either he needs to sell existing shares to get the funds to take place in the placing or its some form of error as it shouldnt report it as a trade if represents his purchase within the placing

????
Peter Francis sold his shares??

its probably correct
MX oil in the better times in 2017 were equivalent of 70p to £1.25
buying anytime pre 2019 you will be a long way down

i think it was a sell that was worked
i think it was what kept the price from rocketing with the larger trades - all them 50k buys in a row did nothing as MM's were quite happy to sell at 5.35 when they had pre sold them at 5.2
now its gone through and been cleared, they lack the freefloat shares and minimal buys have added over 10% in SP in the last 24 hours, if it is lack of shares cause the sell has cleared - if we get Mr 50k buyer buying another 10 lots it could easily get to the 7p mark quite quick

at that time it would be a sell but it would have to be worked over the course of a day
Its either a big buy and raised the price or a large sell thats been worked and the brakes are now off - only small trades are raising the price quite a bit

The Raising of any finance is the most critical element of any company on AIM
They are all listed here to raise funds for Equity - the biggest factor is the amount of dilution - it will always happen
It sounds to me their strategy is to own a small stake (5-10%) in lots of oil plays in the locality

i still think its games from MM's
500,000 sell on friday and then buys like this to reset the system
same pattern as i have said for months that their is some large round buys followed by large round sells and never a TR1 - like trying to manipulate that the share has a lot of trade but always buying and selling without the need for any updated TR1

To be honest
losses last year was expected - they were mainly with previous BOD last year and do you think cost cutting measures happen straight away
Even so, im still expecting losses this year even with reduced costings, reduced cost of sales in the AJE partnership but a lot is because of COVID19 and the current oil price
We don't know when the next uplift will happen and if the next uplift will clear project debt

I looked at the Prince earlier today :)

I assumed they would be there to buy their own investment with the backing of Trafigura - with them been the developer / main operator - especially given the recent appointments.
Now they are technical advisor to OilBank with the option of investing in the project - means ADME will likely again be the minority in any new project

decent partner to be working for but i assumed they would be involved for the purpose of ADME backed by Trafigura money rather than the technical support for someone else
obviously less risk for ADME in this but also not great potential

27th april 2020 Corporate Update:
In addition, ADM announces that the Company's Non-Executive Chairman, Peter Francis, CEO Osamede (Osa) Okhomina and COO, Richard Carter, have agreed to subscribe for an aggregate 2,083,333 new ordinary shares of 1 pence each in the capital of the Company (the "Ordinary Shares") at a price of 2.4 pence per share ("Subscription Shares"), raising approximately £50,000.

No issues on appointing new advisors but bit worrying is the following:

It will advise ADM on, inter alia, financing structures for future projects including the acquisition of the interest in OML113 from EER (Colobus) Nigeria Limited, announced on 24 February 2020, and any follow-on agreements with Trafigura Pte Ltd ("Trafigura") pursuant to the memorandum of understanding ("MOU") signed with Trafigura on 3 February 2020.

I gathered from recent media that there were no issues in getting the finance in place for this purchase when agreed with relevant authorities - now they are employing new advisors for this??

generally until PetroNor purchase happens - its overvalued
Phase 2 won't happen with current operators so it is back to worthless if this doesn't happen

As already stated - with the reserves albeit only phase 2 planned with new operators in next couple of years, and subject to the ADME purchase, i could think £7m-£10m would be fair (phase 2 only)
Taking into cash raise and shares for the purchase taking this to probably close to 110m /120m shares - i think 7p is possible and certainly where the board wanted to be by early next year

Market likes it so far
they do seem to be putting together a team
lets see if they can deliver anything in the next couple of months

certainly a decent addition

don't worry - its a discussion rather than an argument
we all have valid opinions - sometimes we agree, sometimes we don't,
the idea of this board is to discuss these opinions (whether positive or negative) in the hopes of making money

I suppose my point is that comparing the two deals is that they are completely different
It was toldforthat that said it was a bargain compared to PetroNor - but personally i would prefer to be in their shoes
you are quite right that the ADME and PetroNor have two different goals in AJE - PetroNor want to operate it while ADME really are just a technical partner with a future income for doing nothing - hence more of an investment company - this is the route they want to take with Trafigura's backing is my understanding

PetroNor's purchase is miles better
$10m in shares gets them a 12.9% economic interest
they also as the joint operator with this deal gets their economic interest up to 38.7%
3.87% per $1m is a lot better than AJE's purchase - but its all because they are the joint operators
PetroNor get to make the decisions, they get to attribute professional fees to themselves for managing the project