Member Info for Glib

Do we know how many bopd the licence permits us to take? I can't recall seeing anything mentiomed about that.

Not really a non believer, but not currently invested. I transferred to another share just in time, but only because I saw the other one doing more in the short-term than anything happening here. Still lost plenty though. 1) Why would anyone take the placing shares? It depends on who took them. Some 'lenders' will assist with a placing, but forward sell part of their allocation. This is perfectly legal, but I don't know if this happened with this placing. 2) No idea what they were thinking. The �2m hasn't been touched as this is for use for specific spending so I guess it was a calculated risk. It may still pay off, but they had to invest the �500k to get themselves in the door. 3) Sanderson / Beaufort were probably given the same information as shareholders and thought the SP would soon be exploding upwards - still waiting. 4) I don't think the bod knew at the time that progress would be so slow with the project and that they would only have 1 field to work until they could prove they could deliver. 5) Salaries are deferred - they will eventually get paid one way or another. They need to company to be a success to get big money from it, so they are just making sure the lights stay on. Just my opinion, but I think Andalas can make the gas project work. They do not have any way of generating income which has always held them back and they will not be able to rely on the investors for much longer. I don't think we are anywhere near the stage of death-spiral financers yet, but unless they can show they can cover their costs within the next 9 months and get some income going - the fat lady may begin doing her warm-up exercises.

IF the IPP is successful and goes ahead and IF they are awarded further projects, then the long term position of the company looks good. That is of course IF they can survive the short term. They are not making any money and none of the projects we are aware of look like generating income any time soon. Not sure how they would pay for any near-term projects, although they do have a loan note available to draw down. It is definately a gamble but depends on how much risk you are willing to take. Too rich for my blood right now though.

Has there been any news on what projects they may be considering in the short term as mentioned in the interim results and how this will be paid for? I haven't seen much news from ADL but am hoping I have missed something. I note the interview mentioned a near term strategy, but have any details been mentioned?

Interesting to note that TSR's Djibouti portfolio will be spun off - will be interesting to see what the open market values that at. Hopefully will create some price movement here and possibly some traction in March as well.

When the voices in your head start saying you are a figment of their imagination. Or so I'm told.

When is the 2018 RUPTL announced? I know Indonesia was looking to increase the renewable but the current chat seems to be about the cost of the 9 proposed coal powered plants (Rp350 Trillion) which is said to be wasteful. Some news about Pertamina: Jakarta: The government said it will offer the first time 40 conventional oil and gas areas to be tendered this year to PT Pertamina (Persero). It is said by the Secretary General of the Ministry of Energy and Mineral Resources which also serves as the Director General of Oil and Gas Ego Syahrial because part of the oil and gas working area that will expire the contract or termination. READ ALSOPertamina-Bentu Limited Signs PJBG for Dumai RefineryPertamina Spends USD5.6 Billion on Investment this YearPertamina's 2018 Net Profit Can Reach Rp34 trillion Brandconnect Smart AC, Cool Air Solution Without Creating Dry Skin "So there are 40 working areas offered first to Pertamina, which 2018 we give first offer to Pertamina," Ego said at the Parliamentary Complex, Senayan, Jakarta, Thursday, January 18, 2018. Ego also revealed, the government has written to Pertamina related to the first offer . "The first auction of 2018, we have sent a letter to Pertamina," said Ego. But when confirmed to Pertamina's Upstream Director Syamsu Alam, he said he would still evaluate and review the government's offer again. "The 40 new areas of work are offered, and Kan says there will be 40 exploration areas on offer," said Syamsu. As is known, the government is planning to auction the working area of ​​oil and gas this year. Deputy Minister of EMR Arcandra Tahar said it would conduct the auction as soon as possible. Meanwhile, the ego at a hearing with Commission VII of the House of Representatives (DPR RI) this afternoon mentioned that it will conduct auction of 43 oil and gas working areas consisting of 40 conventional oil and gas working areas and three candidates for non-conventional oil and gas working areas. "For 2018 we plan to auction 40 blocks of conventional working area consisting of preparations for 2018 or 2015 and 2015 ex auctions that have not been sought in. For non-conventional, we will auction three candidate blocks," Ego said.

There is also the advfn site to post on.

Altintepe was producing for over a year before it was flogged. We didn't receive anything from the gold produced and it looks like it would have been years before we received anything - probably due to such a weak contract being agreed.

Just curious PS, but if the lights were about to go off here - why did a private Swiss bank just become a substantial shareholder?

I must be missing something. Is that part of the RNS not just stating that we have a new auditor? News on the manufacturing and any new contracts would be worth getting excited over. Next report will hopefully have us close to being a cash generative business.

I have a slightly different take on this, but it still isn't that good. It may be that the major shareholders have had a word with the BOD saying basically wtf? Before a discounted placing of that scale is undertaken I would have expected the BOD to discuss with the major shareholders - if not then this looks poorly managed. I believe they would have been able to get the placing away with that kind of discount but was it just announced because it was offered? Hopefully not long until a new RNS clarifying the financial position and what that was about.

The only hope I have of the loan not becoming a mill stone is that the extension is for only 6 months. If the deals are done by then, it is worth paying the extra.

You did well to find them. I never came across them in my searches.

Agreed - what a difference an 's' makes. The website is protonmotorsystem.com and our old one that now redirects to proton-motor.com is protonpowersystems.com They've been going since at least 2015 - that's when their first review on facebook was.

Agreed A Private Swiss bank loading up. I wonder what their limit will be?

Lombard Odier A bit surprised that their Asset Management division has taken such a large holding, but �500k may not be a massive investment for them. Looks promising if we have a Swiss Bank willing to invest.

The loan was extended to 31 December. We really need some news soon. Wouldn't want them to agree something for the loan that has an impact on any potential deals they can negotiate.

Just trying to get a feel for the possible cash position of the company right now. Oct 2016 cash held was US $318, 000 No placings were made between Oct - Apr Apr 2017 cash held was US $8, 000 There have been 2 placings since end of April £600,000 was raised but not sure how much had to be spent in fees £1,050,000 was raised but need to take off fees. No idea how much the placing fees are but lets say 20% so we raised approx £1,320,000 We paid off the £600,000 loan note leaving £720,000 So perhaps around US $950,000 If we have a 6 month cash burn of around $300k-$350k Then from May to beginning of Dec is 7 months which should leave us with around US $600k-$650k assuming the same burn rate. We also now have 1 less mouth to feed with Warwick leaving the BOD. It would be helpful if we could get some kind of timescale for the project execution mentioned in the RNS, but it seems that finances are in place for the next 10-12 months. Please let me know if I have overlooked anything. If this is correct then I am hopeful that significant progress can be made in that time.

So... we have a senior non-exec who can now spend more time on Andalas projects?