Member Info for mcadder

What could and should be......

"it is anticipated that the project debt on Aje Field should be repaid after the 12 lifting (expected in Q4 2019). The Company also advised that the Aje investment is anticipated to generate material free cash flow for the Company assuming continued stable production and no change to capital or operational expenditure at project level in Q1 2020."

No miracle required

Oil prices back up over 4% today I see....

Exactly Sam - anyway I wouldn't worry too much about DanBrowns posts - he reckoned earlier that there was a big sell order being worked on which doesn't seem to be the case. We're now back to flat on the last 100k buy with 6.5p on the offer and bid back to 6p

There there give yourself a pat on the back Spikey chap - you know gloating is not a very attractive quality in someone especially doing it on a public bb to other investor's who are heavily underwater.
Time you grew up...

Which chunks? Only 3 trades from 2pm onwards were sells - the rest are buys...

And as if by magic DH990 has also been removed just like the other 3 accounts lol. Yes perhaps a blue day?

Yes the truth is we may never know but there are 2 possible reasons for the sudden resignation and sell out. Bearing in mind the new CEO has only been in post for 7 weeks maybe there was a personality clash with the Sheik and the new CEO or perhaps he became frustrated with his lack of influence on decision making with his role being honorary?

Either way the company confirmed that his departure will have no material impact on the company and unless we hear to the contrary then we are to assume this is the case.

As other posters have said Spikey and the new poster DH990 which was only set up on Sat are likely paid derampers.

The new CEO however does give me confidence going forwards looking at his extensive track record in the oil and gas sector particularly in Nigeria and the influence he seems to have there.

MakeTea - those 2 trades within seconds of each other look like Rollovers to me. Happened a few times recently so not sells.

Well Spikey you and your mates may manage to remove some posts but you can't remove the buys trickling in LOL

Let's welcome another new poster set up just today with 1 post haha.
Your post however fails to address these key points with regards to further development and potential increase in revenue going forwards...

Significant increase in reserves outlined by the Competent Person's Report ("CPR") completed in 2018 and updated in April 2019.

o Renewal of the OML 113 licence for another 20 years approved by the Minister of Petroleum Resources.

o Field Development Plan for the Turonian Aje gas project ("FDP") approved by the Nigerian Government.

o Plan for the next phase of the Aje Field expansion is being developed.

ADM Energy will target investment opportunities in undervalued production and near-production assets, primarily in Africa.

This was over 2 months ago so don't be surprised if we get a positive update out of the blue especially with the new CEO only recently appointed with a brilliant track record of delivering and 2 decades oil and gas experience.

Nigeria Can Easily Boost Oil Output Next Year, Kyari Says
By Elisha Bala-Gbogbo and Anthony Osae-Brown
30 August 2019, 12:18 BST
Updated on 30 August 2019, 16:41 BST

Nigeria can easily boost its oil production next year to at least 2.5 million barrels a day, according to the newly appointed head of the state oil company.

“We can easily hit 2.5 million barrels a day in one year,” Kyari said in Abuja, the capital. “We can pull back the 300,000 barrels a day shut-in without doing anything significant,” he said, referring to stranded supply.

Nigeria’s output has been gradually rising since the middle of the decade when disruption caused by a campaign of militant attacks drew to an end. While theft and sabotage remain an issue, Kyari outlined a plan to raise oil production to 3 million barrels a day and boost reserves to 40 billion barrels within four years.

"The field witnessed a significant increase in reserves outlined by the competent person’s report completed in 2018 and updated in April 2019."
"The company renewed the OML 113 licence for another 20 years, which was approved by the Minister of Petroleum Resources, ADM Energy said, adding that the field development plan for the Turonian Aje gas project was also approved by the Nigerian Government."
"Plan for the next phase of the Aje Field expansion is being developed."

CEO appointment...
"Okhomina, aged 48, has over 20 years of experience in the global oil and gas industry, with a track record of financing projects and growing businesses.
"Okhomina brings considerable expertise and government connections to the Board of ADM Energy."
“Our strategy will be to build on our existing asset base in Nigeria and target other attractive investment opportunities in the oil and gas sector, primarily in West Africa, that we feel will bring significant value to ADM Energy shareholders as we grow the Company,” Okhomina said.

New CEO appointed just 6 weeks ago perfectly placed to deliver here. Perhaps this is why the sheik left his honorary position and sold up? - frustrated at not being able to have much influence with bod decisions or just a personality clash? Who knows but either way the potential for development is massive and I expect updates on progress to come at any time now.

And yes there are warrants to be exercised at some point in the future but the rationale for these are that they are likely to be exercised at a much higher SP plus they will also mean more cash for the company.

Chosen - I don't see this as a case of Peel taking on the 13.3M shares sold by the Sheik just to stop the market crashing out - quite simply if they hadn't taken a chunk of them then it would have presented a much cheaper entry point than the 6-7p range and Peel would likely have picked more shares up in an even more volatile market as most headed for the exit.
They would have likely known this yet twice they have declared having increased their position from below 10% to 14.94% and now just over 18%.
It doesn't actually look as though they took all of the sheik's shares but certainly took a decent chunk with the rest being absorbed into the market hence the current SP.
They seem to have taken them for a reason and not just to then dump into the market as this would look rather unprofessional, damage their reputation and lose them a lot of money.
So I certainly take Peels increase twice as a positive....

Exactly E AL not exactly difficult to do if you are a genuine shareholder genuinely interested or have any concerns....although you have to question the motivation of certain poster's.

Someone I know who is invested here also recently contacted the CEO and received a prompt reply too so perhaps instead of whinging on here maybe do just that?

I was on here posting last night BlueFiesta if that's ok with you. Sorry I didn't realise I was supposed to post every single day LMFAO.
RE your buy back in price you forgot to put a 1 in front of the 2.5p as 12.5p may end up being your buy back in price before long...

Adrian I wouldn't worry about Spikey - just look at their posting history - nearly 90 posts on ADME alone and other companies including CTAG lol.
Not a single positive post either before or after the Sheik's departure. Probably lost a ton of money and wanting to take it out on anyone that dares to see any ounce of positivity in the company or upside with the SP.

Newly appointed CEO, Osamede Okhomina, commented: "I am very pleased to be joining ADM Energy at an exciting time in the Company's development. Our strategy will be to build on our existing asset base in Nigeria and target other attractive investment opportunities in the oil and gas sector, primarily in West Africa, that we feel will bring significant value to ADM Energy shareholders as we grow the Company."



Richard Carter, Chairman of ADM Energy, said: "We are delighted to appoint Osamede to the Board. His wealth of experience in the oil and gas sector and comprehensive knowledge of operating in the region of our principle investment, including high-level contacts with business and governments, will provide an invaluable contribution to ADM Energy as we strengthen the Board and progress our strategy to build a larger, balanced portfolio of investments."

New CEO only been in place for 6 weeks. Looking at his track record am looking forward to seeing the extra value he'll bring to the company and it's shareholders.

As for the warrants my thoughts on them are simple....the sheik's sudden unexpected departure should imo rule him ineligible to exercise them and secondly any other exerciseable warrants of a decent amount will only happen with a much higher SP.
Today's paltry 5k exercise of warrants is not even worthy of a mention. Closed your short yet Spikey?

Been keeping quiet on this one last couple of days - quietly topping up on each of the dips and reached my target of 1M shares this afternoon with my last buy @6.29p.

I reckon a comprehensive and positive update from the company will land in the next couple of weeks which will place us on a firm footing back up into double figures.

Well I said I'd double my holding and I have - over 500k shares now. This is only going one way now...

Why don't you concentrate on the facts instead twisting what I said Spikey.

I never said they we're cancelled it might pay for you to double check what I actually said there's a good chap

By the way Spikey it ain't market abuse to draw an assumption about the warrants considering we are discussing someone who was sitting on the board until just Thurs and has now resigned!

My view is he shouldn't be entitled to them anymore - simple

I think you've been sitting in the sun for too long . Lol