Member Info for mcadder

We know that only a month ago they raised 500k and would likely have had enough cash till at least Feb 2020 so to get this further raise now and at a premium means something is definitely cooking

Trust me this is good news whenever a placing is done at a premium - GLA

Oil Price Climbs Above Nigeria’s Budget Benchmark
Recent drops in the supply of Shale oil from the United States and a cabinet reshuffle in Saudi Arabia has also helped Nigeria’s mono-economy create new revenue sources for the time being.

BY SAHARAREPORTERS, NEW YORKSEP 10, 2019

A five-day price rebound has seen Brent crude – the price used to measure Nigeria’s petroleum grades – climb up from lows of $58 to $63.

Month-on-month oil output in Nigeria rose to 1.67 million b/d in August from 1.6 million b/d in July

I think your right EA L - thanks for the transcript of the interview

I have listened to this interview twice and my impression of OO is someone who is pretty straight talking, genuine and perfectly capable of navigating adme through the level of bureaucracy that exists in Western Africa and particularly Nigeria when it comes to negotiating collaborations and potential acquisitions which is exactly what adme needs. He also has a clear track record of delivering so he obviously is a pretty capable individual or otherwise he would not have been recently approached as he alluded to. Therefore I believe he is the right man for the job.does What saddens me is individuals who jump all over the bb with personal comments about the way he spoke and I'm not surprised that theatening post from gilogilo got removed. It's clear that potential deals in the pipeline that are being worked on have been progressing prior to his appointment as CEO along with work to join up all operators for the next phase of the field for the gas. Needless to say he confirmed they are VERY BUSY.
Sometimes you shouldn't judge a book by it's cover....

Sam I couldn't agree with you more....

"Osamede was appointed CEO of ADM Energy in July 2019. He has more than 20 years’ experience in the global oil and gas industry, particularly in Africa, financing projects and growing businesses. 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. "

To make personal comments and threats just because of the way someone speaks is disgraceful and I hope the moderation team ban him.

Yes rare indeed for an MM to make such a move unless they are pretty certain about what's coming. 6.60p to buy will look very cheap soon imo

Geology and reserves
Aje is primarily a gas condensate field formed in a four-way dip closure trap. It contains gas and oil in the Turonian and Cenomanian reservoirs and an additional gas layer of the Albian formation.

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.

So there are over 100M barrels of oil potentially recoverable from the aje field alone. Then there's the gas. The infrastructure to transport it is already there next to the field plus the potential construction of the Nigerian Moroccan pipeline.

Explain how exactly they are pumping this? Where's the incessant ramping then on the chat boards and Twitter? Cos from where I'm looking I see nothing to substantiate your theory that ANYONE is pumping this! LMFAO

Markets
Nigerian Oil Exports at Year’s High as Militancy Recedes: Chart
By Elisha Bala-Gbogbo
9 September 2019, 05:00 BST

Nigeria’s oil exports rose to the highest this year in August even as OPEC seeks to restrict output to stabilize prices. Flows from Africa’s top producer have rebounded strongly from the 2016 lows, driven by an end to militant attacks on oil assets and the coming on stream of the 200,000 barrels a day Egina platform. The West African nation can easily boost production to 2.5 million barrels daily within a year, Mele Kyari, the new head of the state-owned NNPC, said

If and I say IF there was a potential takeover on the cards PEEL would not be holding now over 19% for someone to then come in and buy adme on the cheap - certainly not at this price.
If that was the case they'd likely be looking at a price of at least 3 times the current SP and therefore PEEL would be sitting pretty imo

Few buys trickling in could be an interesting week...

Hmm interesting post from someone on twatter I see lol. I think I would be a little sceptical about info like that Adam until we see something in black and white but it's "possible" nonetheless.
I'm not surprised your post provoked a reaction from the good old Spikey who wouldn't want to imagine the possibility of a merger as they are only interested in seeing this fail.
The fact remains that even if the Sheikh threw his teddies out the pram he still made a decent profit as will other's now if there is any truth in a potential merger.
Could be an interesting week...

6 posts in last 3 days is hardly a running commentary K-mac.
Feel free to ignore if you so wish....

2 trades last 10mins - 98k and 83k both buys

London 74 - "it will take some time to get closer to where this once was."

That bit I think they are referring to.

We all know this once was at 40p+ so you are suggesting that one day this will get close to that figure...

Your quite correct - I've counted 7 buys today including the 2x 40000 trades so someone obviously picking some up on the dips

The licence wouldn't have been renewed if they couldn't show progress being made behind the scenes to further develop the field.

Plus they never said it would happen instantly. They hinted back in Feb that discussions were expected to continue during H1 of 2019...

"the partners have commenced steps to procure debt funding for Phase 2 and, potentially, the future stages of development."

"These exploratory discussions are expected to continue throughout H1 2019 so as to ensure the funding solutions and the technical output of the RPS modelling work are in place in order that a decision on Phase 2 development can be taken by the partnership quickly."

Licence was renewed earlier this year for 20yrs - there would have been no point if there were no plans in the pipeline to develop phase 2 or phase 3 of the aje field - simples.
Plans to increase bopd to 20,000 which would potentially be 1,000 bopd net for adme and we know the front puffin fpso has capacity for 45,000 bopd. The field will get developed no question as the sheer potential of the resource is too good for all partners involved to ignore.

Dan you can whinge all you want about shares in issue but the truth is that as of the 15th April fundraise announcement there were to be 4.3B shares in issue. Now in September we are at just a shade under 50M shares in issue following 100/1 consolidation including the latest fundraise which was fortunate for us (but not the placee's) to have been at 16p.
Cash flow wise with the latest 500k placing there should be no need for a further raise till Jan/Feb time.
As each day passes the company becomes closer and closer to generating material cash flow reducing at least the need for further dilution.
I'm sure we'd all welcome that including your good self?
And maybe just maybe we won't need to wait much longer before getting to hear about the plans for phase 2 and perhaps phase 3 of the aje field development? With the recent appointment of OO with a fantastic track record especially in Nigeria it's all to play for.