Member Info for Greg25

Don't forget, they will pay back the £500k drawdown at neutral cost to the company.! :)

Doubleup,

Thanks for your post, but we have covered how the company will pay back all the £500k drawdown and they haven't met the criteria to receive the other £1.5M in the CLN. So there's no real need to spread doubt and make out it's the start of the end.!

Also as you've already pointed out there's another CLN that ADL have from the past, from how many years ago.? , so my question is how long is this death spiral meant to last.?

Looking forward to seeing how this all pans out here.!

Good Luck All Shareholders.!

ADL share price is 200% below , the last placing, when all they had was Colter drill.

Now they have £2M CLN facility and a new Colter drill licence.

Exciting times ahead YES.!

Doubleup,

The difference is, I've put my money where my mouth is and infact I have increased and will continue too.!

I'm happy to buy and hold, patience is a virtue.

Good Luck All Shareholders.!

Doubleup,

The difference is, I've put my money where my mouth is and infact I have increased and will continue too.!

I'm happy to buy and hold, patience is a virtue.

Good Luck All Shareholders.!

Doubleup,

You're always wrong because you are a non-invested troll.!

The Betun wells are all on artificial lift – sucker rod tubing pumps with beam pumping units.

This type of well requires, a comprehensive workover in time to increase the bpod. That is a fact and not a risk.!

The comprehensive workover that ADL is undertaking, tackles 3 major causes of reduced bpod. Before a company signs upto a service agreement, it would be reasonable to assume that, they have all the factual information regarding previous bpod and what has caused the reduced bpod. They would then come to a realistic expectation of what is achievable.

As the RNS reads, the £500k drawdown is cost neutral to ADL. They do have an option to acquire a participating interest in Betun-selo KSO, which has scope for further development.

As they have £2M CLN facility, they have a lot more options available to them now than the previous few months.!

Also it's worth noting this sentence:

"Andalas may also terminate any commitments under the Convertible Loan Notes Facility and make repayments of any amounts drawn down by the Company by way of subscription for Loan Notes, at any time(s) of its choosing, without penalty."

Therefore the door is still open to a Takeover or RTO .!

Good luck shareholders.!

Hi Guys,

Shareinvest you're exactly right.! Great entry price and share price will be multiples from this range in time.

Doubleup, not sure you understand how this service agreement works. Effectively the KSO are paying us.! They will receive 10% of profits (from the increased bpod) which is equivalent to around 22% of today's output.

This statement, will answer your questions regarding ADL'S payback of £500k drawdown:

"Under the Services Agreement, Andalas is to undertake a 4-well workover programme on the Betun field that will allow it to earn 90% of the proceeds of the sales of cost hydrocarbons and profit hydrocarbons derived from incremental production at the KSO until such time as the funds and services provided by ADL have been repaid in full."

Good Luck All Shareholders.!

Hi Doubleup,

Yes, they have had a CLN facility before, lots of companies have.! It just goes to prove that it's absolute fantasy that it's a funding death spiral as you say.!

The reason Indonesia didn't work last time was because of the Govt of Indonesia :

"Andalas has been advised that the GOI has requested that the contractors deposit funds into an escrow account as security against a future work programme. This requirement would result in Andalas having to raise significant amounts of additional capital which has a material negative impact on the economics of the project"

This time around, ADL are doing something completely different.! a very comprehensive workover of 4 mines. In this services agreement, they are going to deal with 3 major causes of reduced flow rates. Perforate more untapped zones/ remove scale build up/ remove casing head gas, that can restrict the flow on mature wells. ADL are also going to collect 90% of the revenues from the uplifted bpod.

The only other official project on the horizon is Colter's new licence, and there's just under £1.5M funding available with CLN facility.

Looking forward to seeing how this all pans out here.!

Hi Guys,

From the latest RNS, regarding the unsecured £2M loan notes facility, I was particularly interested in this sentence:

"The Facility is for Group purposes and there is no restriction on its use."

(The BOD have played an absolute blinder here)

That's the upcoming, Colter's new licence drill, fully funded regarding ADL's contribution.

Looking forward to seeing how this all pans out here.

Hi Guys,

From the latest RNS, I was particularly interested in this sentence from Hendrik Kolonas, President Commissioner and CEO of PT Celebes Artha Ventura :

"We are also excited by the possibility of working with a strategic partner on other similar projects in Indonesia."

ADL have made a contact, that could turn out to be a very lucrative (for ADL) connection.!

Good Luck All Shareholders.!

Hi Mike,

Yes I agree, Simon has resisted offers from other entities for a reason. It is looking like (at least) a three pronged approach, with Colter South and now this reasonably fast-tracked revenue stream from Indonesia, there's Eagle Gas Ltd that has a role to play here also.

Looking forward to seeing how this all pans out.!

Hi Mike,

Yes I agree, Simon has resisted offers from other entities for a reason. It is looking like (at least) a three pronged approach, with Colter South and now this reasonably fast-tracked revenue stream from Indonesia, there's Eagle Gas Ltd that has a role to play here also.

Looking forward to seeing how this all pans out.!

Hi Mike,

Yes I agree, Simon has resisted offers from other entities for a reason. It is looking like (at least) a three pronged approach, with Colter South and now this reasonably fast-tracked revenue stream from Indonesia, there's Eagle Gas Ltd that has a role to play here also.

Looking forward to seeing how this all pans out.!

Doubleup also known as Doc Holiday

Hi Guys,

Well that's a very interesting RNS.!

Good Luck All Shareholders

Possible RTO of Eagle Gas Ltd on the cards.

Interesting to see how this all pans out now. There isn't the liquidity, in the share, to churn a large amount of shares.

Someone on twitter saying they have bought into placing : Holders its a case a short term pain,the discount was heavy but a necessity for the end game.Thankful to Optivia #adl

End game? If this is true, then the end game doesn't sound much like a asset to me, must be something worth buying in for or they won't be able to flip them. IMO

Good Luck All

Hi Guys,

We'll have to wait and see, Simon, has had offers and he's holding back for something!

Operational and running costs, what's the operation?

Hi Timetomultibag,

It's just a waiting game now, the ball is in Simon Gorringe's court and we will have to wait and see.

It is worth noting, that the application for the extra licences (all together the licences now covering the whole of the Colter South structure) were before December 2018, so they have had several months to devise a plan of tackling the situation.

Also looking forward to seeing if any other projects become suitable for Simon to accept and what is going to happen regarding Eagle Gas Ltd.

Looking forward to seeing how this all pans out.

Yes Mike,

It shows £550k (at a time of only 2 shareholders) now there's 7 shareholders. Using the ratio ADL paid for it's166k shares, the 150k shares owned by the 5 new shareholders combined, would bring the net assets to around £700k.