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Normally I’m very cynical about Peterkin but certainly at face value that was a terrific update, not just Buffalo but the not one but now TWO other Buffalo types where commercial calculations are already being made

It certainly should be a great few weeks now

Good luck all

I think it maybe an Asx requirement, that’s what I seem to remember from somewhere.

Yes

I reckon though that it will be range bound till results but which “ mini range” is the question really.

Personally I dint think we’ll go as low as intra day today and neither is it going to approach the ath either

Yes I understand cvn are committed to once weekly updates solitudes going to be exciting if not next week then certainly week after

You beat me to it Matrix ??

Now we’ve also made it into the Bucket List for 2022 - great finish to the weekend and hopefully set up a great start to next week. The week after that we should get an indication of the results too

Suddenly I’m humming the great satchemo Loid Armstrong - What a Wonderful World

All I need now is a result against tge Hammers :-

“. The Bucket List 2022
I published the ‘results’ of the 2021 Bucket List on 22/12/2021 which were I thought satisfactory. Of the 21 stocks 13 were in positive territory, 7 were down and 1 remained suspended. Whilst all that is history almost all of them remain in the list for this year, as you know I am a long term player and in most cases the reasons for me expecting them to return above the norm are still in place.

Whilst there is a very good quality ‘bench’ of companies waiting to come into the list I think that is a good thing and there are plenty of readers out there who regularly spend time recommending stocks to me and I welcome this and try and make contact and meet with them if I can.

One of the new entries this time around is Advance Energy which is seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects. Right now that project is the Buffalo-10 well being drilled offshore Timor-Leste. The well is being drilled to test for the presence of commercial quantities of high-quality light oil that is expected to lead to the early re-development of the Buffalo field. ADV will slip into the High Beta section of the List, not particularly because the well is a huge wildcat but this well needs to be right at which time prescient investors will, I think, do very well.

The second new entry is Orcadian Energy which will slip into the UK Stocks list and is

You can read Malcys full blog about all things Oul on the Adv Twitter thing ( sorry I dint know how to post the link)

The following was a nice little bit from Malcy’s Blog - see last bit. Every little helps. We just need our own PR dept to be a bit more proactive in other words get off their backsides:-

“
Advance Energy
Advance has provided an update on the Buffalo-10 well being drilled offshore Timor-Leste. The Operator, Carnarvon Petroleum Timor, Lda., has advised that since the last announcement on 31 December 2021, the conductor has been installed and cemented in place, and the 17 ½” hole has been drilled down to planned section total depth of approximately 804 metres measured depth (“MD”).

The rig is now setting and cementing the 13 3/8” casing and installing the wellhead, before drilling ahead in the 12 ¼” hole section to approximately 2,800 metres MD and then setting the 9 5/8” casing, after which the target Elang reservoir interval will be drilled and logged. No hydrocarbons are anticipated to be intersected in the 12 ¼” hole section of the well.

The Buffalo-10 well is being drilled offshore Timor-Leste within the TL- SO T19-14 Production Sharing Contract in a water depth of approximately 30 metres with a target depth of approximately 3,500 metres. The well is being drilled to test for the presence of commercial quantities of high-quality light oil that is expected to lead to the early re-development of the Buffalo field.

Expect regular updates from this important well which, should it come in will signal the substantial development and be a huge opportunity for Advance. “

Yes you’re absolutely spot on Chips

Last night I also said it’d be an up day today but my goodness I never expected such dramatic fashion

I agree with you though about the corruptness

Now up 5% after earlier down about 4%
Not been following today but what’s happening

Can hardly believe my eyes. Has some big sell been cleared or something

Now it’s UP 5% ?

Easy to forget it’s a shortened week this week because of Nee Year. The previous close failed just below the support level of 3.95p but today it held by close at the next support which was advised as 3.65p

So what will happen tomorrow?

Like most on here it’s felt a bit shattering - not because of the SP actual fall but the actual bloodi timing after spud.

I appreciate this share cannot claim to be cash positive until about two years time; that will make us at the mercy of mm’s and shortest and tge like; but still, the fall has been massive

I’m hoping and in fact expecting a bounce tomorrow; fingers crossed

Yes Blussful : Rumour has it that in just a couple of weeks we will get evidence that his company is sitting on about 30 million barrels of oil. Oil price currently is over $75/barrel

Do the maths even after subtracting the costs of production per barrel ( 35)

Currently the market ap here is less than 40 m

As you’re a large shareholder Shareinvestment, it’s good to hear your positive sentiment. I hold only a fraction in comparison and yes it’s a bit painful to see the paper value go down so much post spud. I think most of us expected the complete opposite.

There is no guarantee in life and certainly not in the markets, but I really do sense a very different and positive picture after the update in a fortnights time of not in seven days.

Keep the faith everyone

It is an extremely valid question and even looking at whichever chance of success.

IF it is a “duster” than yes the sp would really tank. But as a long term holder, I personally would still have hope because all the other projects talked about are still possible. I don’t agree it’s simply a binary.

Yes it would be a hell of a setback but on the plus side would be oil industry specific expertise that the current board would bring to the table when they undoubtedly seek new funding either debt or equity.

But in the meantime let’s all keep our fingers crossed for the 90% cos instead of the UB40 “ one in ten” failure

Thanks for that contribution Wyndrum, I much appreciate it.

Following today’s RNS it seems this will be a weekly thing and personally I’d say the update the week after next should be tasty, very tasty.

My aim is exactly the same as yours Shareinvestment ie to hold till 2024 onwards. Even though my holding is very modest in comparison, even I expect to be handsomely rewarded.

There will be lots of choppy waters until then with all kinds of issues , particularly on the macro level such as covid; geopolitics; and currently fast approaching on the rails - inflation/interest rates ( I’m not quite sure how that will affect us).
The real biggy in the short term is tge buffalo findings !

Must admit, I am a bit miffed as to why markets not looking to favourably thus far between spud and results.

Well done Carnarvon, very prompt

Amin : again, I post in good faith; don’t post about me; try to post instead about Adv !

DPVC : I wouldn’t have gone far as to say twin either but this WAS the actual word he (Peterkin) himself used in one of his many interviews. BUT even I accept that Peterkin will not have meant that in tge literal sense and that the message he was probably trying to convey in simple words is that we have another good one !

Regards tge two ir four projects, he definitely talks about FOUR ither projects - it’s just that two were at a more advanced stage. Incidentally he also mentions about other projects the company would consider looking into moving forward- clearly a good thing from a progressive point of view

Amin : as I said to you befire, you first must master the art of language. Leslie Owterkin has talked about the other FOUR projects on several occasions of which he said that two were at a more advanced stage and that he would give us a more “constructive” update after buffalo results.

Obviously no other project is going to be exactly like buffalo in the same way as no two snowflakes are identical. But it is not any nonsense that he said at least one other project was as good as buffalo. My memory says that he even actualky used the word twin amongst his many interviews .

The point is to not be fixated on my words because I will stake my life he has said there was another great buffalo like project. A twin can be identical, Siamese; diff genders and all sorts.

Why dint you try to stop but picking in what I say and say something constructive about the state if okay yourself? I mean that seriously and in good faith