Member Info for DanBrown83

At least BOD have bought into the company at last - albeit they have probably just invested their own wages for the next few months for shares
Number of Shares growing again - over 70 million and still no thing new about the company pre ADME - and as expected project Debt not going to be repaid by May - by sounds of it they want to store the oil - if they can utilise the FSPO as storage for a few months - they will likely get a better price - but as demand is still so low - the analysts for oil seem to think this year we are going to have low oil prices and more likely 2021 until countries use up this huge surplus we have now
This loan and Debt forgiveness is just going to keep the lights on a little longer - but giving 2.5m Shares to Stefan Oliver? - surely better for a Director to get the shares and pay Stefan cash - was that why there was weird share activity the other week??

They will have onsite storage obviously but unsure on exactly how much
They don't produce loads - its probably a blessing in disguise that the bopd aint huge - the storage capacity is is probably decent compared to production volumes
We still don't know when the last uplift was - i assume there has been at least one since last update (January) (there were two scheduled by May) and with less than 3,000bopd average (tried to look at Storage of a Front Puffin and could be up to 720,000 barrels(storage for c240 days of production)) but that doesn't help pay the debt down or the production costs

Oil Market has took a real dive (negative oil prices) - companies struggling to give it away
Chances are AJE's production been nominal they should be able to store their oil for a better day but with Brent back to $22 this will add more pressure in the trading partnership
Still no update from BOD now - maybe they furloughed themselves

Big Buys / Big Sells
Something going on or SP Manipulation

Nobody really knows if cash raise is due - we can all read the accounts and speculate it can't be too far away
They have no income stream coming in from AJE and they have expenses to pay - so ultimately the cash is going down
We know the Oil market is very poor - AJE is likely just making a small operational loss (no contribution to debt) at these oil prices
The communication has been poor during this outbreak - LAGOS is on a complete lockdown albeit i would assume AJE is still operational as its out to sea (so nobody goes visit) and one would assume current staff would typically do monthly shifts would be extended to reduce risk of covid19

somebody buying today
the 140k trade that caused the drop got cancelled (or possibly a transfer to another MM)

agreed - it is poor that they haven't released anything regarding COVID19
Problem is i think if they did release something - it would only be very negative at this point in regards to AJE (they could say that they are looking at viable investments at a discount as many companies are requiring financial support during this time)

if a deal is done - its fair expectation that this companys value goes up - last liftings announced was breakeven c$35 so just hit that briefly
problem is a stock needs buyers and other than one 120,000 buy a couple of days ago - there has been no trades since yesterday morning - so people arent interested in buying and others are possibly 90% down its pointless selling
So until real news on AJE or a new Investment - it will struggle to get back to 4p

out at $31.3 - went back up to $33 but back down now
SA called for an urgent OPEC meeting - no deal yet but must be close
£10k in 4 hours on that oil
watch it carefully next few days - can possibly see it $40 - there is a good trading opportunity

went to $36 but back to $31
not sold

oil above $32

Oil over $32
must be a deal

back to $40 tomorrow

over $29 :)

oil went back to c$26 by lunch
just gone from $26.5 to $28 in a few minutes
Wonder if there is something more concrete

oil price nearing $28 on hope deal struck
if deal struck i can see $40 very quickly
Now is possibly the time for an Oil Trade

is he just a share blogger??? - personally i like to go by what i can read from the company itself

didn't think the Saudis were that high in production costs
either way oil will have to rise in the future - its more a question of timing - its risky betting on the price of oil as you can leverage in greater multiples

I worked out from the last couple of offtakes that AJE costs work around $35 a barrell
That in all honesty is usually ok
ADME were never expecting to get any cash until June/July - but this will likely be deferred until after COVID19 - whether they stockpile for better prices or sell at a loss to keep people paid they will have there is no income coming from this source
Previous Directors did take half salary 2 years ago but it was brought up to date with Sheikhs money last year - that was one of my issues - instead of directors taking shares they took money just when they potentially had their savior

All Oil Shares are down the pan -especially all explorers or who have costs at a reasonable $30ish - only the Saudis can really produce en-masse at cheaper- with them increasing production and the world in lockdown i think oil could get cheap - i seen analysts were saying $17, not seen anyone stating as low as $10 but i'm interested to see - i will probably bet on oil prices rising at some point - i did it a few years back when it was $30 and rose to c$50 - currently $25 but i don't think its time to do it yet

google had the trade at 8.32 priced at 2.1???

Oil Price tumbled a lot more since Friday - down to under $23 for Brent
AJE can't cover costs at that price going on previous RNS's

I think Spikey is a bit unfair
The actual asset has potential with the right people, the problem has been it has never had the right people operating it - the finances were never there to bring it into full production, they operated off a few wells in one small area on large debts to try and generate funds to progress next step - in any industry that is very risky - the current oil price means that the next phase is a major doubt, certainly not imminent, but the new operators (while still small for operators) did appear quite keen to get progressing, biggest issue is now time, 9 months under these circumstances and i can see after phase 1 stops producing there been debts O/S within the partnership, its pretty difficult to invest in any oiler at present - not just ADME

I am still not convinced of ADME's board and the previous one was awful

Current Value of ADME is likely cash in bank less costs for a year and a negligible amount for AJE

Shame for investors but all of us will have seen our share portfolio reduce the last few weeks - just hope for a recovery soone