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Sooooo why not just farm in-to Betun-Selo?

Why the need to do this non profit oil?

Then you also come down to the important issue of funding such a project. Devil is in the detail! :)

Greg ,

This would then result in them not receiving the 500K?? yes or no?

Miker - if they produce 1 bold over the 70 they reclaim 500k over time, if its 100 bopd they reclaim 500k over time but slightly quicker, if its 1000 bopd they reclaim 500k over time but quicker etc etc.

Comparing to RBD of whom have a working interest is stupid.

All will earn £0 out of this as all they get is what they have spent.

For comparison its like a house builder building a house that costs them 200k to build and then selling that house for the exact same amount. There is no profit to be made by ADL on this oil as they only can reclaim expenditure. How long it takes them to reclaim that money is down to how much over the 70bopd, currently 14.8 bopd, now what I am unsure of is it states they receive 90% of the sales and profits, not sure what that means as doesn't state revenue

Look back through Simons past, have a look what he does even when a CLN facility is there........

Greg, where is the downside?? this company under Simon went from about 1.3 p down to 0.02 then they consolidated the shares to 1p now have taken it back down to todays 0.135, this will go back down and then consolidate again, rinse and repeat, its staring you in the face but due to being underwater you have the hope that kills you.

The private equity firm of whom haven't funded this project? remind me what a private equity companies roll is?

As below Greg, any amount owing to Andalas shall cease to be repayable, they will take this option and raise funds from shareholders against this as they have done time and time and time again, mark my words :)

Furthermore, PBS has granted Andalas an option to acquire a participating interest in the Betun-Selo KSO. This participating interest will provide Andalas with an interest only in any future incremental production from the Betun-Selo KSO (excluding the existing production from Betun-Selo). The amount of the interest will be determined in accordance with the following formula:



PI = WP/(WP+V) x 100%
Where:
PI is the Participating Interest to be transferred;
WP is the total expenditure incurred by Andalas in undertaking the work programme in accordance with Services Agreement; and
V is USD 3,600,000 (three million six hundred thousand United States Dollars) plus the cumulative cash contributions made by CAV to PBS from the effective date until the date of the exercise of the Option minus the cumulative cash distributions made by PBS to CAV from the Effective Date until the date of the exercise of the Option.


The option may be exercised by Andalas at any time up to 6 months after completion of the 4 well workovers included in the Services. On exercise of the option, any amount owing to Andalas shall cease to be repayable. Andalas will be granted security by CAV in respect of sums advanced in respect of the Services Agreement.

Again I refer you to the Lombardier `CLN where they had the facility to drawdown but time and time again choose to place.

As I said see where the sp is. in 1 week, 1 month etc , rinse and repeat. There will be no revenue, ADL will convert into asset and raise money against it milking investors for their own pockets again.

Can buy 7.5 million at under .14 -

5 mill 13.7 & 2.5 mill .139

On the sell side - 1. mill at 0.13 then 5 mill at .122 and 5 mill at .116

Missed the RNS yesterday, this will start to get hammered now. Sorry. guys.

Slate me all you want but. see where the sp. is in 1 week and 1 month.

I have been warning you all along

Greg25
Posts: 482
Price: 0.155
Strong Buy
RE: 150 bopd.....Thu 16:36
Hi Guys,

"We aim to be a leading developer of low-risk conventional upstream assets across Indonesia and the UK"

Thanks Cheesy for the tweet heads up.

Looks like update coming, hopefully tomorrow & a good one.

Good Luck All Shareholders.

Exciting Times Ahead Here

And another one just now!! Get on there Simon! Great work

Another tweet! boi the BOD are earning their crust

What do you mean "optiva brought in"?

I think with dilution he went under the threshold and has sold, not 100% sure but think he has. ask him

Maybe, remember they only released news on Bunga mass because it was exposed on twitter by brokeman dan

good to see the company tweeting the same stuff as last week, so exciting I must say :)

Of course