Member Info for DanBrown83

ADME need to provide clarity and something more than a basic RNS, full disclosure now with some form of evidence either way

it might have already been reported but rules on tipping off etc may apply
would lse remove a link without proof its fraudulent - at the minute - it just looks completely wrong and badly done - doesn't mean that its also not real, its also weird that the actual Noble Hill Network website is down and that the only page on it that's working is this sole page

The lack of information on Barracuda is a worry - my thoughts were we needed to do a more in depth CPR report and ADME didn't have the cast to do this
This document is very poorly worded, it could be knocked up quite quickly and all it takes is for a technical guy to hack a re-direct from the actual website to that one page - it can be done easily unfortunately and i have seen it before

We need to wait for OSA to confirm via Nomad now they have been notified - i am trying to get in touch as well

The first thing about this is that why is the website down for Noble Hill Network down and this is the only document you can access
you can't navigate the website at all and certainly a document like this wouldn't be the index of a page - rather than a PDF within operations sector of a website -
something a little fishy to me with NHNL, this update and just Barracuda in general

If this document is real then this is shocking management from ADME - again
I liked the agreement but i was skeptical on how good the actual asset was
but if they are withholding key information like that they need to be investigated
There has been no mention of this - even in the annual trading update

there are a few quirks in the company i have to admit - a major issue has been the communication - when they were active it was all rosey but in the last 6 months we have heard virtually nothing from BOD
I still say my main reason for investing is AJE when its under the new operator - hopefully confirmed this month
the update on infrastructure at AJE was positive to me (albeit it was only our technical study) and will potentially save tens of millions to the partnership - this will mean we will get revenue quicker from AJE (assuming all successful) - the main positive part is that our technical team are a small part with actual no decision to the operating entity and therefore the past mistakes will hopefully act as an education in order to run a profitable business at the field
At 1000bopd equivalent to ADME, you would be a fool to say the SP will be this price if successful - this is ultimately the bet
1000bopd at c$50 profit per barrell is c$1.5m revenue a month, once we clear project debts - we are talking significant actual revenue and at that point we will be worth a lot more (this is the dream)
At current price, most investors likely won't have much to lose now, so no point selling, so the bulk will now be waiting for news - either further raising and one nail closer to the end or hopefully positive updates on AJE (maybe even Barracuda on a CPR report if it gets paid for)

the bulk of my share savings are in main market
trust me, no one should put all their savings in the AIM casino
about 95% of them lose money
yes a handful can see day rises where you can double but most the time these just get investors burnt

I still believe that the asset of AJE is worth more than our market cap
I am not going to put further money in, although i have stated that i believe that this placing would act as a floor (at least in the interim until news on AJE comes out) - it is still a high risk share due to as Spikey has pointed out many times due to the monthly expenses (not because of losing Barracuda)

Why don't you post something concrete on Barracuda been lost - you have yet to do that
So far, all you say is - Barracuda is lost - i have done my research - yet you have not posted any links, information to support your claim
The fact today, the RNS clearly states they are waiting for the CPR report - doesn't sound like its lost
I agree with spikey that the CPR report might not be as positive as they had hoped (we have previously discussed the issue with previous wells)/ or they haven't paid them due to lack of funds

Most of the costs are likely salaries, which look to make up the debt that got capitalised, so hopefully the funds can go a bit further than mid january

Robert - we still have Barracuda - your getting the SP going down correct but your reason is completely wrong
Spikeyj - credibility is something earned, OSA hasn't ever done that yet - its why i am more looking at the other partners on the AJE project. I am like you and are more inclined on Barracuda that the CPR report may not be positive

I think the next raise will be later next year, it is clear they have converted substantial working capital debt to shares and the Directors supported the placing which is a positive, still a £200k drain a month does weigh down on the company

was always going to happen, should of got the placing done a couple of months ago in reality
This probably will form a floor of c1.4 / 1.5p for the next couple of months - most people at this level won't be selling or trading, it lends itself to a real punt in short term news and long term productivity , need further news on AJE and Barracuda (mentioned in update despite us apparently losing it)
The news on AJE is actually positive, if they can utilise the existing infrastructure, then the CAPEX costs on Phase 2 are greatly reduced - it will mean when phase 2 starts, money should come to ADME quicker than i originally expected

Personally, he never came with a good reputation
EER - his previous company who owned part of AJE (which we bought part of) has gone under while he was at the helm
I voiced my concerns at the time (that was before i was a shareholder) when the price was way too high due to the 'dodgy Sheikh' fiasco

This is what you call a PR Stunt gone wrong
Hope they managed to pay the bill ok given the cash resources available

Pretty shocking that photo considering that the financial situation of the company is dire
Spikey will love this - slap up meals on the ADME Gravy Train

i don't know the rate of return - but c2.5x seems to be around the acceptable terms based on Barracuda etc - not really a lot to go on and I doubt that partnership info will ever come to us (but i do hope they would disclose it)
I have admin costs now at c£200,000 per month based on the interims - for me this means based on cash balance at end of June - we needed a cash raise no later than July but as it is likely Directors Salaries that are the main monthly outgoing, these are just been deferred until a date where they can raise (possibly even turning the Salaries into Shares) as part of the process

It will be done in a similar fashion to our agreement on Barracuda where project debt is re-paid back at c2.5x CapEx
I know its going to be a while before ADME will see any real hard cash into their Bank Account, but you have to remember that Nett Income for the Partnership will be c$180,000,000pa based on 10,000bopd - so project debt will hopefully be cleared pretty quick with the correct funders / operators

that sounds really close then
the best part about that article is that they are even providing the funding from its UAE shareholders
If that is the case, then our 9.23% is going to be pretty decent
10,000 bopd (923 to ADME) at c$50 profit ($46,150 a day Nett Income from Partnership) / thats just under $17m for the year nett income
Why I have kept saying that this transaction is fundamental to the success of ADME

Obviously the project debt still needs to be sorted first but we can see a promising future on this one asset

Another 1 month extension to the Long Stop date

They need to get this placing sorted asap
we all know they don't have any cash and that its coming asap so until this happens, there won't be much buying activity - just a few sells as people get sick of waiting - there do look like there a few more appealing short term bets than Adme (still think the future for AJE is decent when Petronor / Panoro get sorted)

the floor will be just below the next raise (due anytime)
What Barracuda issue - its in the latest update
Its Robert the Shorter who is saying its an issue (and he benefits by the confusion)
Even the people on Zenith's board believe its part of a wider collaboration with both of us taking part

We will never know on that sell Spikey, at minute we know a placing must be due soon so buying now is not really a good option - the NAV of the company based on just AJE relative to our transaction and Panoro transaction values ADME at closer to $7m (say £5m minimum) yet we are well below that at minute, add in the potential of Barracuda i still think this should be at 4p (probably 3p after raise and more dilution) as fair value
but there is a lot of risk, but the reward for me is that if AJE goes into Phase 2 and 3, c10% of AJE will be worth well over $100m