Member Info for doughty9

If the Private Office is selling then is it selling to one of the His Highness' portfolio of a group of privately held companies that focuses mainly on energy projects? Too complex for my limited understanding but tryiing find a viable explanation.

Shaikh Ahmed Bin Dalmook Al Maktoum Private Office Single Person Company LLC ("Strategic Investor") has subscribed for 1,335,000,000 of the Placing Shares for GBP534,000 representing a shareholding of 29.86% of the enlarged issued share capital of the Company. The investment by this entity, which is the wholly owned private office of His Highness Shaikh Ahmed Bin Dalmook Al Maktoum, is a strategic investment for the Company. The Strategic Investor has a portfolio of privately held investments that focus on energy projects, LNG terminal development, commodity and oil trading as well as other industries. The Strategic Investors' investment has occurred as it considers that it may be able to add considerable value through the use of its knowledge, network, experience and access to capital.

It doesn't make much sense for the Shaikh to take a large position in April and then go through with a name change ADM to his own in June 10, then to offload a few weeks later. It would do too much damage to his reputation any good in the wider financial world

"The Company has been considering a change of name for some time. The rationale for the name change to ADM Energy plc follows the recent strategic investment by Shaikh Ahmed Bin Dalmook Al Maktoum. The Company's strategic investor has an extensive network of influential contacts within the oil and gas industry and the Board regards his support for the Company as an important opportunity.

Further, the Board considers the Consolidation will help present the company in a more attractive light to institutional and high net worth investors."

The two big 137,500 trades look like a rollover to me at similar prices and times.

Do you know which part of the rig is heading south Exeter?

Thank you Mirasol for that very informative post.

" Once the final Oil and Gas Authority ("OGA") drilling approval is granted and the rig has completed its prior commitments to other parties, we will then commence operations. At this point in time we expect drilling to start in summer (Q3) of this calendar year."

Mirasol

Not quite sure why you expect 2-3 tankers Tuesday to remove the weekend production. Surely 1 to 2 tankers per day have been removing oil from HH in recent weeks. In which case we could expect a big build up over the long weekend. Unless of course there is some downtime on the well.

Yes intriguing. I wonder where elsewhere apart from UK onshore?

"new opportunities, both in the UK onshore and elsewhere."

Just noticed that additions to significantly boost net reserves and resources in the next reporting period.

"Operations during and post the reporting period were primarily aimed at converting our significant 15.6 million barrels (MMbbl) of discovered oil resources into bankable reserves and future expected production revenues. Note that the 15.6 MMbbl currently excludes the expected upgraded of post-test Horse Hill Portland reserves, potential PEDL234 Portland gas and Kimmeridge reserves. We therefore expect these additions to significantly boost net reserves and resources in the next reporting period."

Well we're getting close to the first day of spring. It's about then the next stage is supposed to kick off isn't it?

2.5 million trade at 2p now popped up on ADVFN.

Yep just checked the Rns again its clear that its for a SINGLE WELL but we do not know the recoverable rates. If my memory serves me right they are expected to be reasonable.

" Final Xodus report determines that the single HH-1 well "sees" a connected Portland oil in place ("OIP") of approximately 7-11 million barrels, a robustly viable commercial volume for a single well."

Picture on Weald Oilers now show horses at Horse Hill in the field next to the site.

In the Celtic mythology horses were considered good luck and were harbingers of good fortune.

Nice thought while we're waiting for positive news and hard data from the Kimmeridge.

"We now look forward to the forthcoming production testing campaign at Horse Hill, the first of a series of planned near continuous appraisal drilling and testing programmes designed to transform the CPR's recoverable resources into permanent production and reserves."

Not sure if the trades are an accurate reflection of buy sell ratio. My buy of 14,000 @ 18.08 is registered as a sell!

Eringael If you are so sure "the percentage is what it is" can you tell us which percentage it ii's? Is 7.5% of 100% of all overall revenue or is it 7.5% after a 20% royalty has been deducted, that is 6% of overall revenue

substp Have you a reference to COP's royalty? I can't find anything.

The 20% royalty to the state and Renegade mentioned in 25/5/16 rns:- "Highlands will retain a 100% working interest (full responsibility for drilling and operating costs) and will receive 80% of revenue generated by these wells. The deductions from revenue comprise the royalty interests due to the State of Colorado and to Renegade under the farm-in agreement."

Thanks Chief. That seems to confirm that its 7.5% share after the 20% royalty taken out, so its actually more like 6% of total revenue, hence $4 / barrel of total production is a good guide to work on.

Somethings not clear to me at the moment, about whether we receive ~ $4 or $5 per barrel in the ED deal. Is it confirmed that the rns deal statement - "a 7.5% carried interest in all current and future East Denver wells", means 7.5% of 80% interest after the royalty of 20% has been deducted. That is it is not 75% of the total revenues of whole (100%) ED project.