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But the devil is in the detail...

According to the RNS the total cost for the workovers is UPTO $650k (approx £523k) now ADL have raised £660k gbp minus costs of approx £30k. The bod have already pocketed approx £107k (660k - 30k - 523k) . Not bad work if you can get it :).

But again you are wrong its not 150bopd its 80bopd and they only get the 90% on the 80bopd UNTILL the 500k has been paid back, then nothing...

· Under the Services Agreement, Andalas is to undertake a 4-well workover programme (the "Work Programme") on the producing Betun field that will allow it to earn 90% of the proceeds of the sales of cost hydrocarbons and profit hydrocarbons derived from incremental production at the KSO until such time as the funds and services provided by the Company have been repaid in full.

· Betun currently produces 70 bopd. The Work Programme targets increasing production by an incremental 80 bopd to a total of 150 bopd

Please tell me where im wrong but from the RNS ..

ADL borrows 500k, they spend this 500k on the workovers, IF successful and they produce 150bopd they will receive 90% of the profits up until the 500k has been paid back to ADL on 80bopd of which (unless they dilute holders again) has to be paid back to where they got the money in the first place. So my question is...what do the company make?

They got the 500k?? Isn't this paying for the workers?

Hi Mattey,

No placing on way but would expect to see an rns soon regarding payment to drillers in shares of which will be locked in for a period of time.

Really no worries here just a tech move.

See Greg,

Not being argumentative but they only get revenues on any excess produced and this revenue only pays back what they have borrowed so effectively the company get nothing as they owe the £500+k.....

Based on charts would expecting big buying between the channel of 4.1 and 4.3

Unmarried yes, getting married next month thank you. :)

Im not goading anyone into selling or buying at all, people make their own choices. I have no bother if this fails or not tbh makes no difference to me, in all fairness I would rather PI make money then directors spunk it away.

Lets see how this goes but a leopard never changes its spots......

Chart was overdone, rsi high, its cooling off ready for next move. Compare to SOLG chart or ARS.

T/A DROP, 4.1-4.2 I guess approx on charts

But I thought the RNS was this week? Wednesday wasn't it?

Guessing no RNS due to them counting all the Oil and all the money :)

There has been 8.6 million traded today, if they are selling the warrants they are already gone.

I t was a buy as was watching l2 at the time

that 500k was a buy, as it was -

4.7875 to buy and 4.8 to sell,

Can sell them when ever they want after the 24th, my guess would be they sell half giving them a free run, or they may hold or sell the lot but it’s only a million shares,

Yep was an auto sell/order

Was 4.69 to buy and 4.64 to sell

100%, look at the time and the price of trades around it

Nice delayed 900k buy.

to buy that now u need to pay 5.37

Think its a trade between MM, one MM taking stock off another when they cant get the sells/buys in open market