Member Info for miker444

If we hit those figures it will be pretty exceptional from just 4 workovers and as you say an incredible endorsement to roll that out to the many other wells in operation, at least 19 more I believe (from memory) in the Betun licence alone.
Then the big announcement of participating interest with CAV and going after the 33bcf gas amongst other things in the Selo.
All that positivity could push us back towards the 1p mark as we hit that and more on just hot air / expectation alone with Colter.
atb

It is a reassuring buy and not one you expect to be done on a punt so hopefully they are assuming news soon and positive news at that. Have to say I am just a tad concerned that the water injection pump is taking many weeks to commission and suggests problems in getting it up and running.
Lets hope it gets sorted because once it is this will then allow full tilt on the potential 6500 bofpd and even a 97% water / oil cut will still give 200 bopd. totally smashing the original target of 150 bopd.

Thanks Helpful

Hi Helpful, nothing on Corallian webpage, assuming you have seen it mate, if it is not confidential info don't suppose you can give the gist of it, that said if you are unsure if it is price sensitive then best to let it find its own way to these boards.
Either way reading between the lines your slant suggests it is positive for ADL, me thinks :¬)
atb mate

2 x 5m buys yesterday only just shown up. £15k would not normally raise eyebrows but seeing as it's ADL it is a decent punt, by the same person by the look of it.
Bought on expectancy of updated flow rate news being soon imo. Can we hit target of 150 bopd.
atb

Excellent post Helpful

Colter did not go to plan, yes we got 15m barrels but in the south and not where we expected it so that put the kybosh on quick monetisation and made everyone look again at what the true picture is and to do that more drills and proving up, it's not bad news especially with the extra acreage awarded in the 31st round as they will, in my opinion, eventually increase the volume of oil found. Even if they stated work now, which they are not, it's not a 5 min job and so it's a bit of a back burner for me if I am being realistic.
As for Eagle it just smacks of the old style that was ADL, all puff and no substance, we may have put money in but I don't expect anything and would love to be wrong but happy to go forward with Indonesia and move away in a totally different direction from the past which needs burying for good.
Indonesia small at present but a new direction and hopefully a fresh start.

Hi ismalia, I think Colter is a long way away and will need proving up and more cash spent on it, we do have £1.5m ish set aside from the CLN but do not expect anything until Xmas 2020 imo and believe we will cash it in at a discount as soon as is possible but still do ok from it returns wise.
As for Eagle I have written it off completely as nothing concrete and just twitter chat.
Indonesia is the only certainty at the moment and hopefully results soon, important not to rush and get maximum stable figures released to market. Simon does seem to think we can achieve 150 bopd and possibly more from the last RNS. The big one is getting further deals with CAV and a participating interest, could be a game changer in that it underpins ADL's future.
At this moment in time I will gladly settle for that and a slow and gradual sp rise on the back of news flow and further deals getting us eventually back to 0.09p which we achieved and more on hot air and anticipation.

Do people think the CPR is done all bar the shouting and the volumes are pretty much known, irrespective of EWT.

isdeer funds for WN?

Just need an update on the water injection pump, whether its actually been commissioned and now working at BTN-03, do not expect finalised stable flow rates for all 4 work overs for a few weeks but an update on the above would be good.
Another £1k buy today, someone taking a moderate punt here, possibly same person who took £2k yesterday.

Did we not still have a few £m cash in the bank prior to the fund raise, Corallian will stump up 67% of future drills, we need to find a third so possibly have that covered.
Until we get revised NPV from CPR it will be unsettling for some.

Very good post and very valid point of 'locking in' share price once announced to prevent manipulation of sp prior to actual placing bidding, almost insider trading if news been leaked and allowed to influence sp, FCA could and should look in to these situations when they occur.
atb mate

DeniaP if that works for you mate absolutely go for it, myself I do not see £20m fund raises as becoming the norm for RBD. On the contrary I see share buybacks, dividends much more likely, we have already voted on a motion allowing Steve & Sachin to go down that route as and when. But again mate you must go with your own strategy, simple as that and I sincerely hope it works out for you.
atb.

Sachin restated in the interview what he and Stephen has said in the past that Parta due to running room will end up as big as West Newton.
For those who cannot wait a year to see sp go from sub 1p to 10p+ then perhaps you should join rana and sell up, I have just sold my 28m all from a non CGT Isa. Honest :¬)

Bless small man syndrome pmsl

The interview was to justify the placing for £24m and reassure the shareholders. I do not think that Sachin would have given any detail even if asked on the CPR / EWT.

We know where we are, we have simply to wait for that news, hopefully by Xmas, which will give an indication of volumes to re - jig NPV's substantially up, we won't get anything until the CPR /EWT news lands.

" Being able to take both project areas fully funded to the point of value recognition is almost impossible for me to understate the upside and transformational nature that that provides to our shareholders"

Sachin is blown away by the deal, that's good enough for me.

Can anyone explain how / why you would execute a 1p sell with broker charges ranging £8 - £12 a trade?
2 decent buys yesterday for £2k (total).

11 :1 ratio