Member Info for Ginksy

Spikey i mentioned my reasoning on shorters previously.

In terms of Osa trustworthyness if there was any thing dodgy about Osa and the board it would of being splashed all over TW's now daily hit piece on adme long ago. The fact that Trafigua have such are large finace package 120m deal with Osa and team says alot about Their trustworthyness. I doubt they'd trust such large sums of money with someone unless they have an impeccable character . The same for Oliver Andrews that has done business deals with AFC worth billions .

well, no contracts signed yet its likely the panora approval is probably a big reason in holding things up at present .. hence why the shorters want to move now and get rid of the board while the company is at its weakest

I doubt they would employ Dr Babatunde Pearse fulltime on aje without the approval of Trafigua and the other partners

Well Osa mentioned, adme along with Trafigua could finance the phase ii developemnt of aje out of the 120 million finance package where adme could earn accelorated cashflows/profits for the development work on top of the 9.2 % share, therefore adm would have a big say in the development. However if osa was removed this all falls by the wayside.

London fish ... fair point if its a green field gas devlopment but luckily in aje case the phase one oil leg paid for the bulk of the subsea infrasture and top side . So its just a matter of converting the structure to handle gas and additional oil production. See adme rns 17 novemebr 2021

"As part of the FDP, ADM's technical team has examined the feasibility of using the existing infrastructure available, where possible, for the supply of the two new subsea wells Aje-6 and Aje-7. Based on the findings of our review, which has been passed to the Partners' technical committee, the Company's view is that the existing subsea hardware infrastructure are able to be used for the new wells, subject to a confirmatory integrity inspection. In addition, the analysis concluded that any potential topside cost and control system hardware compatibility issues would also be reduced if the same type of subsea control module as on the existing tree is used for the proposed wells Aje-6 and Aje-7. The ability to use the existing infrastructure should de-risk the expansion plans at Aje and would be expected to provide significant cost savings compared to installing additional subsea infrastructure."

Why remove Osa and take the risk of new managment at this crucial time in the companys development. Osa and board is very trust worthy and have the best intentions of the company in these very difficult times with covid etc slowing everything down note panora are still waiting for approval. Very risky in changing mangement who knows what wolves are out there.

Spikey if align and their buddies took part in the big placing they propose of 1million . Say 1 million at .5p per share they and their buddies would get 200 million shares or half the company for 1million which means they get half of aje worth 7.5million for 1 million.maybe they go to .4p and gain 250 millon share thus aje would be worth 8.3 million . potentially nice business for align not so good for other shareholders.

or an outside party could be pushing align to remove the board and push for a big placing and gain half the company for 1 million. Once the outside party have control of the board and shareholding could easily sell admes assets at knockdown prices to themselves and wind up the company leaving shareholders with little or nothing like in aaog.

London fish ... the key word there is 'could be' worth 15m on sale ...although no mention of this on their offical statement ... that is if the new management can be trusted .... and we can also thank Osa for contributing to half of that 15million valuation.

Spikey, If you read aligns briefing they stated they want to sell AJe they clearly have no interest in Aje. They never mentioned at what price their are willing to sell aje at or to whom . Id hate to see a situation that happened in AAOg where the Tapila oil field worth probably 30million and was so to zenith for 200,000 . Can Align garuntee aje won't be sold to zenith or its associates.

Spikey thats total costs. If you exclude the one off costs and non cash costs such as depreciation, legal and professional fees on the aquisition of barracuda in the first half of 2021 and aje in 2020 and share placement costs and listing costs of berlin in 2020 you get the monthly cash burn.

So what is the monthly cashburn is basically wages and monthyl overheads such as rent , light heat , travel costs etc.

The total wage costs in the 2020 annual report came to 747,000 in 2020 thats €62,250 per month which would make up the bulk of the monthly cash burn, Add on other overheads say 25,000 per month comes to 87,250 per month .depending of the timing of the bills your looking at 75k to 100k per month unless they make another acquisition which would be no bad thing.

Spikey Where did you get a cashburn of 200,000 per month . Accroding to my calculations its between 75k to 100K per month. That should take them into the april may 2022 time frame maybe a month or two more if they deferred some of their salary.

By that time there are a number of factures that could move the share price up much higher maybe for the next placing.

1) By april may the phase 2 development could be sanctioned and drill preped . This would move the share price up by 1-2p
2) By then Osa may have pulled another deal or two maybe a producing asset with the 120m finance facility be no need of a placing then the share price could 10-20 bag if that happened .
3) They might have a verdict on the barracuda court case where their awarded title on contract or maybe awarded damages and costs say 51% of 17 million based on zeniths deal.

But if Osa is voted out you can scrape the above potential windfalls .

ad I still dont get why they need the 1 million other than dilute existing shareholders to a minotiry status.

Spikey, To post that many times on ADME all negative only contributes in a large way to the demise of the share price I can't see any other explaination other than your posting these negative comments for someone elses agenda. maybe not TW but for someone.

London Fish your mask fell off when you suggest massive dilution of 2.5 billlion shares to fund the most expensive well you could drill on Barricuda. Why would they start with the most expensive well ? why not a cheaper shallower well. Osa and Co have millions of shares in the comapny its not their interest to dilute the company. Just all scare tactics to bash the comapny with. Why not ask align how much dilution do they expect in their proposed 1 million fund raise. What price do they expect to do the fundraise. Who are the placess of those shares. Can they promise Zenith or its associates will not take part in that fundraise. Why do they need to raise 1 millon now just after they have raised 475,000.

I have no connection with the current board it advisors or any other third party other than a shareholder concerned that my shareholding would be pilleaged by a cheap indirect takover of the company and or its assets. The question is who is Spikey and london fish. Spikey is the number one in volumn poster in adme over the last six months all posessing a negative spin on the company its assets or its managment. He tries to pass himself off as an innocent outsider looking in occasionally yet already in december has posted 76 post on lse re adme and shows all the attributes as a paid throll probably from the TW camp.

London fish also continues on the same negative spin on the company but holds a detailed knowlede of the agreement with Barracuda so would not surprise me if he comes from the align camp maybe jennings himself .

Well I am a current shareholder of ADME and an ex shareholder of AAOG and I have seen the carry on the What happened over at AAOG and and do not want the same to happen to ADME ... where shareholders were wiped out of their investment and their only asset Tapilia was sold for pittance $200,000 to zenith. And its right that shareholders to ask Align these important queastions. What is your interest in the company , how posted today already ?

So ask the question to Align to make a statement as to their plans for Barracuda if they are or are not taking a case to court and explain the reason why.

Ask Align that question ... why do they not mention it, if Zenith thinks its worth 20 million . Are Align prepared to go to court to determine who owns the asset ?

Well align are either being fooled by or best mates with Zenith who want to do to ADME by what they done to AAOG.

Well zenith thinks is worth 20 million for a 43% stake. They know a bargain when they see it....they usually only pay a pittance when they buy an asset.

It is if board are voted out . Not worthless to the folks that will own the asset worth tens of millions . Certainly worth fighting for it through the courts.

Align are making a big issue of the delayed cpr of barracuda and yet don't mention a word of barracuda in their future plans. Are they going to go to court to protect shareholers rights ? no mention. All silence you can bet they will dump the case ... all part of the plan.

Rosie, osa has increased their share in Aje oil field by 50% no mean feat by any standards. Note petronor are trying to complete their deal since 2019 which is also holding up phase two development which adme have alot of work done this year on planning etc. The delay here is no fault to the board.

Osa pulled out a potentially hugh deal with barracuda in record time but Zenith stepped in a few months after contract signed behind the scenes waving 20 million to nhnl who are now trying their best to get out of the deal. This again is not osa’s fault. Its up to the courts to decide if the deal stands or not. Looks like adme have a good case in court. Crazy for shareholders to remove the board with this court case coming up but vested interested would be delighted to see the board removed.

Osa mentioned they bidded on another deal back may 2021 but no resolution yet I suspect rising oil prices over the last few months has probably stalled the seller.

No doubt Osa and co are working on many new deals in the back ground all it takes is one or two deals to get the share price to multi bag. One deal could be worth a modest 20m . Thats a ten bagger from the current 2m market cap. No surprise the directors were loading up on placing shares at 1.5p more deals must be close.

Theres not to many small to medium size oil companies that have a 120m finance deal with trafigura again shows there high regard for osa and the board

Companies like sterling energy are waiting over ten years t pull off an oil deal despite having 40million in the bank. Osa has pulled off two already since he has joined and likely more unless shareholders vote to put a stop to that.

Most importantly their aboard that can be trusted .. they are boards that can act against shareholders interests just look at what happened to aaog where the shareholders were wipped out within months of a new board being appointed and the same characters that attacked aaog are attacking adme at present.