Member Info for DanBrown83

I don't see how you can say the ADME additional stake in AJE is a bargain compared to the PetroNor purchase
PetroNor are getting operating rights of the AJE Field - this is worth a fortune if they get Phase 2 started
This is why i keep saying watch their announcements

agreed - targeting German money

someone should have asked when next offtake was
market is getting better for oil, mid 40's and rising
had stagnated last few weeks at between 41-43, every $ counts - they must have a lot of oil stored now (450,000 barrels maybe) c5months at nearly 3,000 a day (c22,500barrels to adme)

i'm going to wait on the PetroNor update
i can't see Phase 2 progressing without them concluding their purchase and becoming the operator
not enough was mentioned on future deals and Trafigura - but could be because of non disclosure
The AJE prospect has always had potential - just none of the current partners are capable of moving it on - seen what the project debt has done on phase 1, no income from this venture to date, a lot of expense
Keep an eye on PetroNor updates as this is where the real value

They answered my question confirming the shares for the increased stake in AJE Partnership will be done at the original nominal price of 7p - so circa 20m Shares plus the cash consideration

i did say wait for the AstraZeneca news

I'm honestly not a doctor - at minute the key is Corona Virus - all i am saying is that results of a much larger study from a behemoth are too be released today and if they are positive, SNG will likely be left in the wind for a Corona Virus solution
I am not commenting anything on the fact that this could be developed for wider uses in the future

listened to report
i think people here need to understand that these results are in very early stages and it was only a small sample
also with AstraZeneca trial results to be published today - i would wait to see what they say - if their positive, they will be further ahead than SNG with a much bigger set of data and much more capable of producing - SNG could be left behind

obviously there has been some positive changes updates in the last few weeks, but there still isn't that major update
everything backroom so far just helps a little - but until phase 2 AJE or one of these new projects comes into play - it is still exactly the same asset profile as before

IMHO - look half decent people to add to the team - what ADME did need to assess any potential opportunities was more skills in the background in O&G
this adds and possibly opens up the opportunities
It is also going to be an increase in costs - which as we know could be tight (where these factored in)
In regards to the 3 deals a year - there is still COVID19 hanging over every country, company - we all know that 3 deals this year made Pre-Covid19 realistically won't happen
Im registered for Investor Call but i also have a work call so might miss the first 10 minutes or so

Large Buys followed by Large Sells
still looking very manipulated
No Holdings RNS despite Peel's offload - either there is a lot of shares in the MM's all holding just under 10% or somebody needs to get their holdings lodged - them shares had to go somewhere

maybe this BOD realise keeping investors up to date is key
even when there is nothing major - the fact they want to be seen and to discuss matters is really important
also a chance to ask further on the future finance of the company

same pattern, big rounded buys, then followed by big rounded sells
same every week

The Deposit was done at 2.4p per share, a drastic change to the original 7p in the original agreement?
even at 7p, we are talking 20million shares plus cash of $1m
at c4p currently - thats 35,000,000 shares + $1m cash

The way i read his comments is that all expenses are included but i suppose we will see in next couple of months

We won't know when they are out - no disclosure for Market Makers when under 10% (which last update they were)
I still don't really believe blogs where people say they have spoken to the CEO - not saying he hasn't but he has a motivation to drive up SP (truthfully or by spreading false information) and no one knows if he comes with any cred-ability
I'm assuming when he says no placing required - he is referring just to operational expenses (including Admin) and not the fact that there will be $2,750,000 worth of funds required soon to complete the AJE additional purchase (Q3 potentially)

Not a bad write up, he got in at 2.7p so has none of the legacy issues
even i said at 2pish this was probably undervalued and maintain 4p is realistic - still really waiting on PetroNor update and phase 2 on AJE / ADME's extra purchase from EER and see if anything comes from Trafigura MOU

I still maintain that current investment in AJE is really only worth $1m currently (expected net income from 2 current wells until dry) - the rest is hope value from the next stages which he does allude to is the reason he invested

A lot of round buys again
some rounded sells have started again
same pattern week after week
i still think there is someone / MM that is trying to manipulate the price without holding shares long enough to declare an interest

It was Chris but they did a placing at 17p i'm sure it was 21p
It was obviously way too high when it was coming down from 40p - the Sheikhs departure just really kicked things off

Eddie
There was a Sheikh involved last year - he sold all his investment at 10p a share
this caused the SP to crash from 17p to c6p in a day
when the placing was done at 17p - the SP was over 20p

Since the Sheikh left - the SP has struggled on the back of AJE not living up to expectations and had a period of downtime, that put the SP into the 4p range, then Covid19 sent the SP into the 2p rang - there was silence for a few months during this period until they negotiated with the owners of FrontPuffin which they lease that they can store oil in which has negated them selling at a loss

Other factors are that they are increasing stake in AJE (but this will be paid in further shares and some cash (likely from Shares or possibly Trafigura) - they have a MOU with Trafigura to kind of Joint Invest in opportunities but this was pre covid19 and so far nothing has come of this

I wonder if they believed that oil was going to be higher (say closer to $50) for next uplift , its kind of stagnated at $40 a barrell now - maybe there was the possibility that selling the lot might generate first clear nett funds to adme from phase 1 (but at $40) this isn't the case