Member Info for mcadder

Both shafts will have to be sunk - there is no way around it. On the subject of transportation one of the reasons for granting of planning permission in a national park was due to the polyhalite being conveyed via the underground tunnel on conveyer belt. Some on here have suggested just bypassing that for cost savings and transporting by road. I'm afraid that that absolutely is NOT an option.

Gas, future oil of Nigeria, says Presidential aide
TODAY AT 4:55 PM | PULSE NIGERIA | NEWS AGENCY OF NIGERIA
Ajuri Ngelale, Senior Special Assistant to President Muhammadu Buhari on Public Affairs says gas is the new oil and future of Nigeria.

Ngelale added that the 2.5billion dollars gas pipeline project- AKK (Ajaokuta to Kaduna to Kano) is a priority of the President, which is geared toward effective export of gas to the Trans-Sahara, North Africa and Morocco.

“Already we have the West Africa Gas Pipeline, we are going to connect that up to Morocco, but we want one that is going to go straight up to the Sahara over the next five to 10 years.

Gas potential for oml 113 -
Material upside in gas development
? FDP for Phase 2 gas development submitted in 2017
? Development will include dedicated Turonian wells to produce gas
and liquids
? Gas to be sold into WAGP or Lagos markets; $4/mcf gas prices
URONIAN
• MATERIAL DISCOVERED GAS AND LIQUIDS
RESERVE & RESOURCE – 124 MMBOE GROSS
• AJE-5 CURRENT PRODUCTION
CENOMANIAN
• AJE-4 CURRENT PRODUCTION
• FURTHER WELLS POSSIBLE
ALBIAN
• FURTHER GAS AND CONDENSATE UPSIDE

NIGERIAN GAS IN CONTEXT
9th largest gas reserves in world
Nigerian gas production for domestic power:
600 mmscf per day, while demand is estimated at
2700 mmscf per day
? Large infrastructure investment required in order to meet local demand......no wonder PetroNor want in on oml113.

Plausible theory KOH

https://t.co/OvAPMoCOV5?amp=1

Caught up with
@JohnHughman
for a chat about the market, the story at #SXX and trend at #SLP, and my market maker article in this week's
@IChronicle

A trader in the interview himself confirms to having a short position on SXX which they are looking to increase as they can't see a good end to the financing debacle without significant dilution for SH's.

Interesting listen from 1m35secs on....

The significance of having Petronor on board ......

With strategic and long term shareholders from Abu Dhabi and Norway.
PetroNor E&P will aim to steadily build and increase its reserve base while using free cash flow to pursue defined exploration targets in selected and highly prospective basins with a view to delivering significant value to its shareholders from high impact wells.

PetroNor is present in West Africa with 2P reserves of 8.54 MMbbls and an average production of 2,300 bopd.

We look at creating value through application of cutting edge and smart technology but we always strike the right balance between innovations and proven technology. PetroNor E&P gives special interest to IOR (improved oil recovery) for improved and efficient operations.
Our area of focus is on Sub Sahara Africa and, more specifically, proven and producing assets in the region with development and IOR potential.
We leverage on our background and experience from Abu Dhabi, as well as from the oil and gas industry in Norway, the country with the highest oil recovery rate in the world, in our operations. Our team has a proven track record from both IOR in the North Sea, as well as from direct, day-to-day, on the ground operations in Africa.

That's exactly why those that take the risk at this level stand to benefit the most if the aje field development comes off plus further deals in other operating assets come to fruition. Join the dots together here but if your happy to wait till then and pay a massive premium good for you...

Perhaps by mid 2020 your gut will be telling you "shoulda bought these when they were 5-6p" after staring at a 5-10 fold increase from that level. That's my gut feeling for what it's worth lol

Now I can see why CF only bought 10k worth of shares at 4p - looks like this is going below 3p

Gross contingent resources of the Aje field are estimated at 380 million boe. Of this 28% is oil / condensate, 20% is LPG and 52% is gas.

Osamede (Osa) Okhomina -
Osamede started his career at Terra Energy Services, helping to introduce new deep-water technologies in Nigeria. He is a founding partner of Africa-focused Energy Equity Resources, a partner investor of ADM Energy, where he has secured more than $300 million of direct foreign investment into Nigerian oil and gas. He brings considerable government expertise and connections to the ADM Energy board.

Manuel Lamboley -
Manuel is a financier with over 30 years’ experience in international broking and investment banking. Manuel has long-standing relationships with major investors and financial advisers worldwide, with a particular focus on the natural resources sector. Manuel is a director of Zark Capital Limited.

Peter Francis -
Peter has extensive knowledge of working in developing and transition economies, building relationships with senior government officials and developing strategies to support new business entry.

Significant Shareholders
As at 24 October 2019 -
Peel Hunt LLP 8,162,801 14.16%
Zark Capital Limited 3,852,000 6.68%
Zhang Hao 3,098,479 5.37%
Lesoza Enterprises Limited 2,900,000 5.03%
Winrose International Limited 2,225,000 3.86%
Richard Carter 120,000 0.21%

I know I said earlier that we may finish blue by the end of the day but we're already back to blue lol...perhaps Dan is starting to have a change of heart lol

Doesn't sound like PetroNor will be wasting any time with development of the next phase of the field...

PetroNor stated its rationale for the Transaction was to: "become a technical operator of a de-risked development project with significant upside potential", giving it the "opportunity to leverage PetroNor's technical experience to progress [the] Aje project and deliver near-term increased commercial recovery of hydrocarbons."

Osamede Okhomina, CEO of ADM Energy, said: "PetroNor entering the Aje project and taking a lead role in its future development is a strong endorsement of the viability of the asset and its significant potential upside. With its extensive offshore technical experience in oil and gas exploration, development and production, PetroNor can help bring near-term production growth and take Aje to the next stage of its development."

The only reason PEEL reduced their holding on 22nd and 23rd when this was climbing is because there was heavy buying going on and peeps were effectively buying them from PEEL who as we all know are MM's. So expect another TR1 next week to show they have increased their position as seller's sell back to.....wait for it.....PEEL lol.
Despite that I actually think we'll finish blue by end of today.

Yep - they are a market maker so they actually went down 4% on 22nd as a result of all the buys - the day this started climbing so we'll likely get a tr1 in a couple of days to confirm their holding has increased. Great buying opp considering what we now know about the new partner for oml 113 and potential value of adme's stake...

"I’m sure they will think, get this guy on board, he can put us on the right path to Glory."

Course they are lol....probably more like "who is the ******* that goes by the name of SpikeyJ" lol

Oil back over $60 a barrel tonight after surprise crude oil inventory draw despite many analyst's predicting an increase in reserves.

If it remains around this level adme will definitely be cash positive by 2020....

Slowly - correct. I fully agree with your post ;))

Slowly - post recommended. Good post although I'm sure Dan Brown won't agree with you as he wants to think/hope that phase 2 of the aje field development is ages away.
Sorry but I think many others including myself will strongly disagree with you there. Join all the dots together. It's happening. Yesterday's announcement shows there is the appetite and the deep pockets to do just that so watch this space.

Osamede Okhomina, chief executive officer of ADM Energy, said that PetroNor entering the Aje project and taking a lead role in its future development was a "strong endorsement" of the viability of the asset and its "significant" potential upside.

"With its extensive offshore technical experience in oil and gas exploration, development and production, PetroNor can help bring near-term production growth and take Aje to the next stage of its development."

"PetroNor can help bring near-term production growth and take Aje to the next stage of its development.".........so should be all systems go for development of the next phase of the aje field

Indeed EA L.....some may wonder the legitimacy of the recent bod appointments and recent RNS's given the fiasco surrounding the sheikh's departure however it cannot be underestimated how much of a better position the company is in now. And that is in relation to their cash position, OO at the helm, the impressive bod appointments and the recent partner for oml 113. OO is very straight talking and capable individual - his track record speaks for itself plus he has an inside out understanding of the levels of bureaucracy that exists in West Africa along with the necessary contacts. Wake me up at 15p+ lol

Kentan - don't understand why your post confirming the lifting of oil from FP has been removed....someone obviously didn't like it lol