Member Info for doubleup

Once bitten

Purchased at 3.3 so up a bit. Just think adl could come good but will consolidate and will raise. They have say 2 months funds left and any further developments are going to cost as we have seen previously with adl.

Arcm

I recently sold out my 40million (averaged down all the way pre suspension) at 0.013. Now we all now know Whitby was a scammer, goes without saying! And I amongst others got bent over!! Reason I sold is even if Simon is taking the company in a different direction the next step will have to be to raise funds hence the consolidation wiping anyone out from even these levels. My advice see how the land lies post consolidation and placing. Atm burn cost is 120k pm approx and the company has say 300k left after the last placing.

Haven’t they added to holding ?

Just joined here after bitting the bullet with my ADL shares. Hopefully all goes well.

Hi Deano, Hard to argue with you really but who and why are people taking placings when no chance to flip?

Hi Chris, Regarding your first question the OGA has the licence listed on their website with the licence details. - https://itportal.ogauthority.co.uk/information/licence_reports/offshorebylicence.html The RNS lists what we are doing with the asset, which will lead to a number of announcements in the coming months: - Existing 3D Seismic and data indicates significant prospective gas in place makes Badger one of the largest undeveloped prospects in UK North Sea. - There is a work programme ongoing to meet the current licence commitment to further define the size of the opportunity. - PGS (https://www.pgs.com) has been engaged by Eagle to conduct the work programme. Eagle is targeting completion of the work programme in Summer 2018. - Following the results of the farm-in proposal the plan is to kick off a farm-out process to fund the appraisal well. Jersey Oil and Gas is a good example of where that has been very successful with Statoil and their Verbier discovery. I agree you will only be able to judge the value of this transaction from its results but Simon has only been in the role as CEO for 6 months and is working towards changing perceptions, this is the first step. Kind Sent: 30 April 2018 21:20 To: Dan Jorgensen; Simon Gorringe Subject: Re: Adl Hi Dan, Thanks for your reply. Really finding it hard to find reasons why to stay invested. Have done a bit of digging around regarding today’s rns and have the following worries. Eagle Is a dormant company of which has been going 2 years with no accounts and there is no info anywhere about them having any involvement in this block, this feels like TOE again. The last company to have involvement in the block was Atlantic Petroleum and the license expired last December. This is now an exploration project and where are Andelas going to get the capital needed for a North Sea drill as these are extensive? £600 k was raised but only £125k given to this dormant company, the rest is earmarked for running the company, over the last 2 and a bit years millions have been raised for this and not a penny earned or any thing positive for shareholders, why is the different? Why is the info yet again limited in the rns? Regards, Chris

You are right.  Dave made a big bet on Pertamina.  He had made big bets in Indonesia before and had won but I guess when you make a big bet with a Major’s balance sheet its more likely to come off  but when you are Andalas you don’t have the balance sheet to do nothing whilst you wait to see if the bet was a good one.  For that reason when Simon became CEO he announced at that time that he wanted to build a portfolio to complement existing opportunities to be able to deliver consistently to shareholders.  Andalas was over reliant on third parties to prove progress to the market.  Today’s announcement is the first step in building a portfolio capable of delivering sustained value and news flow for shareholders in addition to our existing Indonesian opportunities.  The Company is in a much stronger position following today’s announcement than it has been for a long time.  We have cut costs across the board and we have stream lined the board, we have our existing projects to which we have added a very nice looking deal in Eagle and which has been acquired at modest cost but has significant news flow visibility and has very significant gas potential that will become clearer in the coming months. Kind regards, Dan

Theory in adl Sanderson (Beaufort) have loaded up with shares at a higher price, Volantis (again I think linked to Beaufort) have also done the same, adl have a further 6 billion shares available to issue in placings, could Beaufort have been forward selling millions upon millions of the 6 billion dragging the price down whilst loading up via Sanderson & Volantis for when they go bang and the forward sold shares can’t be covered? Interesting that Beaufort go bang the same time we are due the first 500k tranch at 90% of sp??

Same here can sell 40 mill

If anyone wants to know whats going on call the BOD - Simon - 07767 472 714 Dan - 07800 682 452

All of the MM had not come online to show their prices, therefore it shows whats on offer at that time

Dan Jorg - 07800682452

Who me?

Why dont you just call the FD if you want info

This is actually the opposite and not a great sign as shows little liquidity. You want to be able to sell large amounts of which means there is desire on the other side to have the stock. This however does flip all the time so means little

Rns

JAKARTA - Siemens and PT Perusahaan Listrik Negara (Persero) will build Mobile Power Plant (MPP) spread over 12 locations with a total capacity of 500 MW, to provide power supplies in remote areas of Indonesia. https://www.idnfinancials.com/n/13580/PLN-and-Siemens-build-mobile-power-plant

amen