Member Info for Hms687

I remember sitting down for a lunch with a fellow trader wondering if gold would hit $100 - oz and now look at it. Truth is, who would bet against gold price doubling even from here. It has firm literally going back millennia.

I’m just not so sure about oil though, yes $100 is within aim but not sure of doubling from there because of a number of reasons

Buffalo Project Update

Fri, 31st Dec 2021 07:00

RNS Number : 1110X
Advance Energy PLC
31 December 2021

31 December 2021

Advance Energy plc

("Advance Energy" or the "Company")

Buffalo-10 Well Drilling Commenced

Advance Energy (AIM:ADV), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, is pleased to announce that the Valaris JU-107 jack-up drilling rig has commenced operations at the Buffalo-10 well location, offshore Timor-Leste.



The Operator, Carnarvon Petroleum Timor, Lda., has advised that the drilling rig has successfully concluded the ready to operate process and has drilled the surface hole and installed the surface casing. The well is currently drilling ahead in the 17 ½" hole section at a depth of approximately 120 metres.



The rig will drill the 17 ½" hole to the planned section depth of approximately 800 metres followed by setting of the 13 3/8" casing. The 12 ¼" hole section will then be drilled to approximately 2,800 metres before setting the 9 5/8" casing.



No hydrocarbons are anticipated to be intersected in these first two sections 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.



Leslie Peterkin, CEO of Advance Energy, commented:

"We are delighted to hear this progress from the Operator as we hit another operational milestone. The joint venture is working hard to conclude the drilling program in the coming weeks and remains confident that the Buffalo-10 well will be a geological and economic success. We look forward to providing further updates in due course."

I’d traded the Aussie index for years me being an insomniac. Trust me, it’s open 10am while 4pm ie open at 11pm gmt

As I said previously a lot of the buying was already done when the spudding got through unofficially yesterday

It’s not such a bad thing to have steady gradual rises instead of all in one go, markets rarely go in a straight line. There will also be an element of profit taking

My target tomorrow has to be to float around the resistance area of 4.6p. Then hopefully approach 5.2p just prior results and then and then and then

But please, dyor etc and only use money you don’t need. Besides I’m supposed to be an idiot and I trust those that think that will have placed me on ignore

Fwit I’m holding on to my shares dearly

Fantastic !

Not sure it will reach my 5.2p target tomorrow as I suspect an element of tge good news will have been built in by now.

Prevailing winds are favourable too in almost every way - coved; omnibus; crude oil up; no Putin rising etc etc

As someone said, shame it’s a shortened end of year market

Hopefully we ALL have fun now ; Happy New Year x

Dan, I dint think Energygeo is giving his technical analysis, that’s the field of people like Wyndrum, another taking a Xmas break. EnergyGeo gives more of what I’d call expert or fundamentals opinion. He is of course fantastic in what he provides. Tbh he reminds me a lot of st tropaz

All different postings on here is good stuff so ling as it’s presented honestly

Apart from any shutters I guess we’re all looking forward to great news, albeit later than sooner

Thanks Lexon / UK Chips

The first episode coincidentally featured the drill and the young lad asked Jeremy what kind of drill he had. “A red one, or maybe it’s blue@, he replied. Cracked me up. Actually, it’s tge kind of humour I myself indulge in daily life. Do I hope this Gerald guy I’m likened to you isn’t some grunge type man

There’s a great deal if media who take interest in the list of best performing shares between January 1 to December 31st. I wouldn’t be surprised to see this company in that list, I’m certainly hoping so. It might just add even more of an interest in buying today and tomorrow. Mind you, the sp seems to be ticking along nicely. As profound as it sounds, maybe we have already spudded but just not formally published

Btw UKChips, decided to watch the very first episode of Ckarksins Farm, and I loved it. Would you believe I’d never even previously watched a whole episode of Too Gear even.

I take an interest in horticulture so loved it even more. But who is Gerald that you speak of ?

Just to put the cat amongst the rats, I hear there has been an earthquake in that part if the world which might be causing the delay. Surely this earthquake is something the Adv board could easily have prevented.

I’m driving home for Christmas ( wish I knew how to draw a car on here) ¥¥¥

Thanks EnergyGeo for yet another quality information post. I also agree with you that tge pure sp activity would suggest spud progress

Tbh I’ve already started pontificating the next steps eg actual drill, results, higher sp consolidation, and perhaps most importantly some firming up if breaking news related to new ventures especially the Buffalo so called Twin project

Blimey Dan, I feel like Lionel Ritchie now, but I know it’s the spud we’re all looking for really

Yes sharepercarper. Logic being equal advantage to both cvn and adv. But then I’m now thinking cvn as tge main operator so perhaps onus akways in them to release first so maybe tonight.

On tge other hand, maybe there us a simple delay and that they did do a Chris Rea driving home for xxxmas lol

If all things are equal then Y = MX + C,

Oh the RNS, maybe a shout @ 4.30m gmt today ?

Chinaman, in fairness to you, at least you put forward your alternative to my opinions at least on the matter of being so called negative. But dint Exocet me to agree with your opinions either. The issues regards delays and management have been discussed at length previously. I am just one that will question when I feel something needs to be questioned that’s why I were one if the first to query tge first delay back two months ago. Can you really blame me for pointing out that Adv have not done as they stated in their RNS just a week ago.

Touchwood we will hear about the spud very soon.

Please do continue to challenge me if you disagree but I dint take nonsense from anyone who make general sweeping comments about me. Debate on point any time

Amin, sorry to be direct, but some language is beyond your comprehension and I dare say you may not even have heard of the metaphor “ pulling defeat out of the jaws of victory”.

Adv WILL Spud very very soon, they will discover a great findings from the drill; they will have an absolutely fantastic future after that. Adv EILL be a multi bagger, at least double from here before this time next year - at least.

I am a mid to ling term holder and I’ve stated that several times, in fact I’ve publicly stated I intend to buy more when the situation and personal cash flow permits.

But not everyone is a long termer and frankly, most people are traders. Actually, a not very known FACt is that vast majority of traders LOSE MOnEy on the markets.

Aside from a bit of fun, I try to use my experience if the markets to inform about both my positive and negative opinions - if someone doesn’t like them, please use the ignore button, , very simple really

So spit it out Chinaman, what are you saying ?

I’d eddie hazard a guess that you think I’m not akways positive about Adv. well, I’ll hold my hands up, you got me

But you do need to chill man, it’s only another 360 days to Christmas

Btw, you can always filter out my comments using some ignore button

What re you say when words are not enough

I do hope you’re right No Easy about spud now in 30th

The fear with Adv is that they pull out a defeat from the jaws of victory

Thanks Scoobydriver, I dint feel like the gringe anymore

Yes, CVN hopefully might RNS at start of Oz trade which actually is only about six hours away

Hot Copper is the best place for that, I’m on their mailing list so hoping to get a nice email in the old inbox- though they reserve emails only for the real large news

Lol AJ, no not the kids doing. But took another piece of advice given in here ie to type slower and check. It’s ok to do that just now as the boards terrible twins gone a bit quiet so less distraction and I can post at own steady pace - might change tomorrow

There’s a horrible feeling that all personnel around the rig simply packed up and did a “ driving home for Christmas “ not to return till new year, lol

Yes, Brent approaching 80 is great news after foundering in the mid 60’s just couple weeks ago.

It’s all very relevant because my initial sp target on spud was 5.2p , but then the delays set in and macro factors such as the price of crude and the new variant set in.

Let’s hope we’re back on schedule now, starting with a reverberating spud RNS tomorrow/ tonight in Oz.

From last weeks RNS :-

“ The Operator, Carnarvon Petroleum Timor, Lda., has advised Advance Energy that the Valaris JU-107 jack-up rig is currently en-route to the Buffalo-10 well location, with spudding of the well expected to commence within one week.