Member Info for DanBrown83

just got back from meeting
i assume the 600k sell was delayed but thats the reason for the drop

probably a code
It has dropped today

considering there has been a lot more sells than buys last two weeks the SP is holding
think Peel are happy to trade here in the short term until news on AJE / Other Investments materialises.

How do you know Andrew and Anna paid that much for shares
there isn't a confirmation statement on companies House for there transactions
the amended accounts are pretty crap on companies house and its only a 0.4% ownership
too break even, the company needs to be worth £210m
i know Accounts mean little in relation to a R&D Company in the Energy Sector but i think a £210m valuation is very excessive

with a 0.4% Shareholding its a minimal investment
i think something dodgy went on as Mr Frangos and Mrs Frangos both own 1.6% each

Don’t know if billionaires as not on Forbes list but certainly they have wealth
Fact that she is Nigerian is better too, this is a positive for me but why is it taking her so long to complete the transaction

i was close to a 70% loss at 0.6 - i could only dream of 20%

i just wish i had bought some when it was really low but already had invested a decent amount in a small cap and i'm not a fan of trying to catch a falling knife waiting on outside approvals which were always delayed

nearly break even

if everyone discussing ADME was a holder - the comments would be biased
it would be like having a political debate with just Tory MP's - it would be one sided
everyone is allowed a viewpoint

Mine is as follows:

1. the AJE asset looks decent if fully developed but currently the 5% stake is worth very little, about to go cash positive next year but income is still low until some major development work is conducted / funded
2. The new partner in AJE (PETRONOR) look half decent, they are still relatively new as a company but look well backed and have some really strong senior management - they also look genuine in developing the asset, both short term and long term in a way which is sounding more balanced
3. ADME Board for me instill minimal confidence, so far OO comes across badly and his previous appointment was a senior position in a failed Company (which is still a minor shareholder in AJE until the Liquidation is sorted out) - i wasn't greatly impressed with last two additions, one while credentials were great was close to retirement and the other held multiple positions in AIM stocks and was quite clearly only appointed to keep an eye on matters for Zark Capital
4. The Cash position will be quite strong in liquid cash at present, couple of fundraising's in last 8 months has seen the number of shares treble with another 90million potentially to be issued - cash position will be fine imho until next year when funds will be received but im unsure on how much can really be earmarked for investment, imho, £10m doesn't really get you a great investment in a Operational Oil and Gas project, so under £1m i am skeptical of what new investments OO is looking to add - still no word on what any of his 3 potential investments are

i think, if i were a shareholder, the most positive is the recent AJE partner, while the sales figure of $10m for a 12% Economic Interest does value ADME's stake at closer to £4m + maybe £800k cash (say £5m) - there is plaudits to say that this could be undervalued, the biggest issue is that PetroNor / Panoro deal was a lot more than just buying a stake in the field (which is all ADME technically have) - PetroNor are buying a working interest, they are going to be part of the operation, they are going to be hands on developing the asset - ADME are just a minority stakeholder and have minimal influence
I also think it will be well into next year that the Nigerian Government consents to the purchase, they have never been a fast government in paperwork

Thats my little overview, read it or bin it, its up to you
There's a shining light under the gloom here but there is still a lot of problems with the fundamentals of ADME

just hold and top up
this is worth multiples when in production and virtually all is a greenlight
2025 should be getting decent Dividends

close to break even for me if that happens

TBH - this is better than what EUA have and is much more advanced and now looks pretty certain to happen
no reason this can't get to 3p+ in the short term

The article from slowlyslowly is what references OO's interview, i actually think its just an article based on that interview when i read my notes of interview and that article
I also don't see how any chairman would publicise a potential purchase without full disclosure through the OSLO stock exchange as it would breach their rules this insider information - which is why the article contains comments like ' most likely' 'hoping' - it is highly subjective

i actually think most of it came from OO's interview if you cross reference what was said
we will have to see what happens but i want to see what the development costs are, how funded, Revenue, Expenditure and of course 'profit'

if you believe twitter then more fool you

hence why i said 'it could be'
no one knows what these 3 deals OO is looking at but i'm pretty much sure there was / is a lot of speculation of how great these are going to be when announced

In regards to the funding - the market reacted initially well to the funding RNS at 7p (albeit there is warrants as well attached) and it does show confidence - but we are 7 weeks on and it hasn't concluded (it doesn't matter if it is urgently needed now or 6 months (we don't know if it is or not urgently needed) but fact is when a deal is supposed to be concluded early October and isn't, then its going to be by end of October and isn't, people get twitchy, if you told your Bank you were paying your mortgage on 4th October, then said it will be done by 31st October but then missed that date you would be in default and have an arrear registered against you right now

I think the placing was about a 20% premium at the time (from memory)
the other thing its not completed in full - so we don't know how it changes what ADME can or can't do
c£250k in the terms of O&G is peanuts but it could be the difference of a deal been concluded

No it wasnt
It was originally supposed to be concluded in full by 4th October - 'the Fundraising was expected to complete, and the new ordinary shares admitted to trading on AIM ("Admission"), on or around 4 October 2019
The Company announces that completion of the Fundraising in its entirety has been delayed pending receipt of funds and it will now be effected in stages. The Fundraising, which totals approximately £562,360 through the issue of 8,033,713 new ordinary shares, is expected to have fully completed by the end of October 2019.'

This is a further delay (considering original funding was RNS'd 11th September (over 7 weeks ago) and they still haven't managed to conclude means there is probably a bigger problem to the overall funding

Expect AJE cashflow positive from H1 2020 - no cash needed from any party to progress this
Market always hates failed fundraising - this money was originally expected 4 weeks ago, its more and more likely going to fail as it drags on (remember these are supposed to be buying at a premium knowing what real plans are and if they aren't providing funds or can't then you wonder why)
in regards to enough funding for a deal, we don't know what they are looking at so none of us can say that, but seems the twitter muppet yesterday saying he had news that placing was concluded was utter tosh then