Member Info for Ginksy

If you want to follow logic ....wait until the end of court case ...its up to the judge to decide who owns what ..theyll have all the facts and evidence .. everything else is only speculation and bull.

there cant be too many excuses left the board can use ... oil prices sky high , gas / oil shortage in europe ... uk government desperate for oil particularly uk oil ... what are the board doing ... if they cant be bothered let shareholders take over the board and get things moving

Maybe someone should tell these climate commies whats more important, a couple of field mice will have to up sticks and move into the next field or millions of the poorer people in the uk suffering from rising fuel , heating and food costs due to their campaigning against oil production. I would recommend shareholders show support for the planning application by voicing their opinion on the following link the more support for the drilling ...the better the chance the planning application would be approved and the sooner the company can relist.... https://plan.dorsetcc.gov.uk/Planning/Display?applicationNumber=WD%2FD%2F19%2F002866

looks like they want to go drilling in puddletown again I wouldnt blame them with oil over $90 per barrell ....

Puddletown Pilot Production Well
Restoration Plan
December 2021
Policy
This Restoration Plan is a supporting document of Planning Application Ref:
WD/D/19/002866 submitted by South Western Energy Limited. The Restoration Plan has
been prepared following consultation feedback from Natural England and Dorset Council’s
Landscape Officer.

Developed Site
There are several phases to the proposed development, these are set out below: -
Phase 1: Site Establishment
Phase 2: Well Drilling
Phase 3: Testing
Phase 4: Construction of Production Site
Phase 5: Production of Hydrocarbons
Phase 6: Reinstatement
The appearance of the site will change somewhat as it progresses through each of the above
phases, however, it is the Phase 5 site i.e. the production phase, that will be in existence for
the longest period of time (up to 20 years, depending on oil flow rates)

london fish, my preference would be to sell aje to petronor and let them develop aje. however it would be interesting to see what the new agreed funding setup will be.

there are a number of options that could arise

1) ADME could finance most of the project using trafigura's 120m funding facility and pay it back using preferential cashflows or
2) ADME could finance only their portion using part of the 120m funding facility
3) the new spv could finance the whole project like in phase 1

from a cashflow point of view id go with option 2 where adme take on their portion of the debt but would benefit from early cashflows say 80% profit cashflows would pay off the debt and 20% of profit cashflows would go to pay admes general overheads and finance maybe other projects / dividends in time

the problem with option 3 ie as in phase one it could takes years until spv pays off its debts and release cashflows for other partners such as adme.

Take a case study on on oliver andrews shares for example

he purchased 6,666,667 shares at 1.5p costing £100,000 if he was t sell his shares now he be lucky to get .9p per share based on that quantity or £53,000 a loss of £47,000.

Now if adm were to do a panora style deal with petronor adm could get 100,000,000 shares in petronor to be divided amoung shareholders pro rata and a $15million royalty over production volumes.

Oliver would then get roughly 2.666,000 shares in petrnor valued at .95nok or 8p sterling giving a value of £212,000
he will still hold 6,666,667 shares in adme which will hold a $15million royalty still valued a .8p per share or £53,000
The total value of the deal to oliver would be £265,000 a profit of £165,000 as opposed to a loss of £47,000 currently.

Take Hessia group with their 36,449,000 shares they would get 14,500,000 shares in petrnor valued at £1.150,000 plus their share holding in adme worth £288,000.

So all in all shareholders would gain considerable in value and liquidity wise by converting aje to petronor shares... abit of a no brainer

spikey , aim is a ceasepool full of shorters , share bashers, throlls, market manipulators such as tw all designed to smash and grap companies assets. they particulary prey on cash strapped companies that have good assets were they hammer their share price so that a company is forced to have a cheap placing usually with the very firms that are bashing / shorting the share. The lower reaches of Aim is not a healthy place to grow companies . shareholders would be better off if adm converted their aje asset to petronor shares therby a large portion of shareholder equity would then be out of aim away from the shorters/bashers and listed on the main market in oslo .

reading the lastest petronor management report , the development of aje starts in july 2022 so i dont no where you get 2023 from.
the fact that adme have no cashflow curently i would favour adm doing a panora deal with petronor where adme would get 100,000,000 shares in petronor and royalties of 15m over life of field.

the advantage of this is it would instantly raise the share price up to 2-3 p, generate more liquidity for shareholders as petronor is moving to main oslo listing, having 10million worth of stock on the balance sheet would make it much easier to raise debt to finance drilling on other prospects such as barracuda. move some of the shareholder equity away from aim which is largely controlled by shorters to a better investment environment over in oslo
.

The only shareholder feeling trapped is align judging by the last voting record.

One solution to create liquidity and get away from the grip of the shorters on aim and get a truer reflection on the value of aje is to sell the asset to petronor for a deal similar to panora at say 100,000,000 shares in petronor valued at $10 million which when approved by the nigerian govenment divy out to existing shareholders pro rata. Also panora have a further royalty scheme to earn up to another $15 million based on production volumes which could also be incorporated into the deal.

Banter ...https://www.offshore-technology.com/marketdata/aje-conventional-oil-field-nigeria/

some nice production charts included that london fish can have a good look at

as per offshore technology

Aje is a producing conventional oil field located in deepwater in Nigeria and is operated by Yinka Folawiyo Petroleum. The field is located in block OML 113 (OPL 309), with water depth of 3,280 feet.

Two expansion projects are associated with the Aje conventional oil field, namely Aje Phase 2 and Aje Phase 3. The expansion projects are currently in the approval stage.
The Aje conventional oil field recovered 3.45% of its total recoverable reserves, with peak production expected in 2025. The peak production will approximately 6.29 thousand bpd of crude oil and condensate, 96 Mmcfd of natural gas and 4.67 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2046.
The field is expected to recover 135.95 Mmboe, comprised of 24 Mmbbl of crude oil & condensate, 505.38 bcf of natural gas reserves and 27.72 Mmbbl of natural gas liquid reserves.

I wouldnt be in a rush to sell AJE once into phase 11 the value should go up more and more again when they hit phase 111 this field could reach 25,000 a day by 2025 where it'll be trowing off the cash it could net adme 15 million a year at that stage in profit / cashflow.

However I wouldnt say no to a share deal with petronor as they will equally do well with aje in time say something simliar to panora where 10 million worth of shares in petronor is divided up between adme shareholders at say .4 shares in petronor for every 1 share in adme. That would mean if you had 100,000 in adme you would get 40,000 shares in petronor valued at 2,700

What fraud is NHNL claiming ? normally in a case of fraud its the victims of fraud that get a court injunction to prevent the fraud from happening so why did adme get a court injunction ?

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.
As previously announced on 13 December 2021, the Company and K.O.N.H. (UK) Ltd ("KONH") obtained an interim injunction at the Federal High Court of Nigeria, Lagos ("Court") restraining Noble Hill-Network Limited ("NHNL"), its officers, agents, privies or person howsoever connected from selling, disposing, divesting or tampering with the 70% shareholding interest of KONH in NHNL to third-party investors or in any other manner whatsoever.
The Company has been advised that the Court has adjourned this matter until 1 March 2022. The interim injunction continues to stand in the meantime and a further update will be made in due course.

Good news for adme .. hopefully now the consortium can get their act together and start drilling asap and take advantage of the high oil price

londonfish nobody is trying to deflect ive shown you various difficulties ioc's were experiencing at that time between 2006 to 2008 including bombings kidnappings etc which is a good reason why sinopec would abandon barracuda and orxy would stay offshore nothing to do with the technicalities of the fields. If the field was so bad why did eerl drill 3 wells and adme's subsidiary NHNL completed 3 eias dredged and cleared the land ?your analysis does not stack up with activity on the field

heard nothing since september which was the usual board are trying to complete a transaction and relist.

more on the problems in the area at that time

Violence in the Delta Continues

Italian company Eni's Ogbainbiri flowstation has shut down operations after it was stormed by an unknown group of militants on the evening of 25 July (see Nigeria: 27 July 2006: Militants Attack Eni's Ogbainbiri Flow Station in Nigeria). At the time of the raid about 40 employees of Nigerian Agip Oil Company (NAOC) were at work. It is thought that they are now being held there.

It is possible that the incident occurred due to Eni's alleged refusal to sign a new memorandum of understanding (MoU) with the Ogbainbiri community following the expiration of the current agreement, but Upstream reports that Eni could have been targeted due to its failure to clean up an oil spill in the area some time ago.

This is just the latest incident in which employees of companies operating in the oil industry in Nigeria have been taken hostage. In the past couple of months, there has been an increase in the kidnapping of foreign oil workers; so far this year 32 people have been taken hostage from facilities in the Niger Delta, all of whom have been released safely. This militant strategy has been one of the factors behind the deteriorating security situation in the Delta that has seen IOCs refusing to allow their employees access to Delta-based facilities (see Nigeria: 24 April 2006: Companies Still Wary of Operating in Niger Delta, Nigeria: 26 April 2006: Confidence in Niger Delta Security Plummets as ExxonMobil Asks Staff to Stay Away, Nigeria: 12 January 2006: Shell Shuts In Offshore Nigerian Field After Workers Kidnapped and Nigeria: 2 March 2006: Some Hostages Set Free in Nigeria; More Oil Sector Attacks Threatened). However, this strategy has proved so successful that hostage-taking has been adopted as a tactic by others, and was most recently used by a village community to voice their displeasure at their current situation (see Nigeria: 26 June 2006: Two Philippine Oil Workers Released by Kidnappers in Niger Delta).

It has been a miserable week for the oil companies operating in the Nigerian oil sector—one that has led to over a third of the country's production capacity being shut in. It would appear that another oil company working in the area caused the damage by accident to the Sanbartch Krakrama pipeline. Niger Delta militant groups such as the Movement for the Emancipation for the Niger Delta (MEND) have been quiet lately, which suggests that when the organised militant groups are ready to strike again at oil-company facilities the shut-ins could increase substantially.

Shell chief executive Jeroen van der Veer stated yesterday that Shell has hopes of allowing staff to return to the Delta in the second half of the year. If this could happen then production that has been shut in since February could be restarted. However, as the April 2007 presidential election draws closer, the violence in the Delta looks set to increase. Earlier this year van der Veer admit

londonfish more on the ongoing problems in the area between 2006 and 2008 when sinopec were working on barracuda alot going on .. note oryx stayed away from the swamps and drilled well offshore

Royal Dutch Shell declared force majeure on Tuesday on its Nigerian Bonny Light crude oil exports for July to September following an attack by militants on an oil trunk pipeline in the Niger Delta on Monday.

Effective midnight today SPDC has declared a force majeure on the July, August and September 2008 offtake program from the Bonny Light stream,” Caroline Wittgen, spokeswoman for Shell in Nigeria, said.

The Movement for the Emancipation of the Niger Delta (MEND) said it had blown up pipelines at Kula -- through which the Nembe Creek trunkline passes -- and at Rumuekpe, located around 50 km (30 miles) west of the main oil city of Port Harcour

MEND’s campaign of violent sabotage against the oil industry in the Niger Delta has cut output in the world’s eighth biggest exporter by around a fifth since early 2006.

Yes sinopec fled ..between ongoing violence and bibery allegations they too a runner leaving barracuda discovery behind ...

The DOJ and SEC are investigating Chinese national oil and gas company Sinopec over allegations the company paid over $100 million in bribes to Nigerian government officials to resolve a business dispute in the country.Bribery allegations surfaced this January after Deloitte, Addax’s auditor, publicly resigned because it failed to obtain a “satisfactory explanation” for an $80 million payment to an engineering company for Nigerian construction projects in 2015. Shortly after that payment, Addax and the Nigerian government reached a court-approved settlement in their dispute. The settlement resulted in the government reversing its position that Addax owed them $3 billion in unpaid taxes and royalties. The agreement was revoked in 2016, on a forward-looking basis only. Deloitte also noted that Addax paid $20 million to legal advisors in Nigeria and the US, from accounts in Nigeria and the Isle of Man. Several whistleblowers allege those payments were also meant to bribe Nigerian officials.

Londonfish , Reuters article states otherwiase

BEIJING, Aug 18 (Reuters) - China's CNOOC Ltd 0883.HK has quit most of its 35 percent share in the smaller of its two Nigerian oil stakes even after the Nigerian operator drilled two successful wells, a source close to the matter said.

It was not immediately clear why CNOOC decided to relinquish its working interest in oil mining license (OML) 141, formerly oil prospecting license (OPL) 229, after two exploration wells in the shallow-water block sunk last year struck oil.

The move is a rare setback in Chinese state firms’ dash into resource-rich Africa, although some are also suffering a rising number of kidnaps of Chinese workers on the continent and growing critism from rights groups.