Member Info for miker444

Hi lucky2, I know people are saying otherwise but to me its obvious there is some sort of hold up with Cali, it doesn't have to be mega or bad news but we should have heard something by now. I suspect it is the gas pipe tie - in permit which is causing the hold up due to its close proximity to a road.
In a recent RNS it does state that the connection / tie - in can be done live i.e no interruption to existing supply whilst connecting us to it, so it does look like permit / legal side of things causing the delay which is much better than if it were a production / technical problem.
In the bigger picture it really doesn't matter one jot, we have some incredible news flow coming our way in the net few weeks / months and dare I say it some other news / projects we are totally not aware of yet.
atb

Good post Greg. it does not take many bopd to give a decent NPV, as stated before RBD have a 50% stake in 4 workovers in California which produce, oddly enough, 70 bopd ( so 35 bopd net ) and it is set as $10m NPV to the company. We are currently sat at £2m MarCap now all the shares are in issue.
It all hinges on Gregor Mawhinney coming up trumps / reducing the casing gas etc. He seemed very confident to me.
atb

Hi hillside, certainly Colter would be a big fish if it came good but with modest increases from each Indonesian well we could end up with net 180-200 bopd for ADL . From 6 wells this is do able and Gregor has stated that just by reducing the casing gas in each well would see a big increase in production. They also have 4 pump jacks available and are only using 1 at the moment so if they used all 4 that speaks for itself volume wise.
Indonesia could be a surprise in it's own right and is looking more and more like a shrewd move for ADL.
atb

Hi Greg, if indeed wells 07 & 11 are being looked at for proof of concept then 4 wells could become 6. More significantly is the fact that at this very early stage CAV are already involving ADL in the bigger picture and are their preferred choice. I can see next year ADL having some input in the remaining 17 wells (oil) at Betun and 19 wells at Selo (gas) if these workovers are successful.

May as well wait and see if the sp goes up on increased workover production, yes you won't see 11p but we may see 1p / 2p with Colter etc and my average is 0.39 but thanks for the advice and sorry for your loss, no need to label yourself as a fool though.
atb

It would appear that the video footage of the workover rig has brought it to the reality that finally ADL are actually actively involved in something, nothing like seeing it with your own eyes. Some tasty buying today, considering our history, and a nice £16k individual buy. Be nice to bury the past, we certainly can't change it and move on to better times, fingers crossed.
Will move on news and even probably without in anticipation of RNS.
Again doesn't have to be mega news but any uplift in production will be welcomed in the hope of rolling out a few more.
atb

Won't be long as Gregor Mawhinney stated 12 days - 2 weeks and that was 26th June RNS, so hopefully news next week
atb

Hi Helpful, more likely they are up in anticipation of news incoming for West Newton and the sheer size of what may now exist compared to prior expectations.
It is possible that we will get first news of Indonesia 'workovers' as early as next week. Any success of improving the current flow rates of a combined 70 bopd will be just the start of an sp recovery. Doesn't have to be mega news but it will take away from our total reliance from Colter.
If Gregor Mawhinney has got it correct ( I believe in his experience and expertise) and can reduce the casing gas amongst other existing problems then not only are 200 bopd - 250 bopd possible it will send a very positive message that ADL are the partners for future work at Betan oil wells and the gas at Selo.
Next week hopefully mate.

Hi Greg,
Of all the figures that stand out it's the 33bcf, the turnover (not profit) of that is circa $200m but even a small % for a MarCap the size of ADL will be well worth having.
atb

Hi Greg listening to Simon & Gregor on the podcast presentation (26th June) they say 12 days to 2 weeks for first news so we should hear by next week. Looks like a steady stream of news and not long to wait.
atb

Fund raising will be oversubscribed as in UJO case, their £2.25m was available twice over. Fund raising will not be a problem.

Yes, not much incentive to raise money with possibly the largest ever onshore gas discovery in the UK with possible 65m of oil / condensates they hadn't bargained on and an oil saturated core below in the Cadeby Reef Formation.
Need to up their game :¬)

Good pressure then :¬)

Sad just sad

Absolutely and the 4th well is not producing yet so any production at all means we get 90% of all production from it as its all 'increase'. We are going to get income its as simple as that and I agree with Greg we are probably looking at 200 bopd - 250 bopd.

I am very calm actually and very happy with the Indonesian deal and Gregor Mawhinney 's experience is so evident.
But you need to consider seeking therapy, whether a Doctor, Shrink or Hypnotherapist. You clearly are not well and your posts show that.

Yes 'If' which we all stated including you????
You are not well mate, seriously you have psychological issues.
Pitiful, you really are suffering from your past losses. You need to let go and move on for mental health reasons.

I was responding to your post yesterday 20:33
You posted "ADL If successful ( hence my last line IF successful) will be paid 90% until they are basically paid back.... they spend £500k, thy get 90% until the £500k is paid back"
YOUR WORDS YOUR POST!!!
You actually say it TWICE in the same sentence. THAT is what I was referring to. You really need to sort yourself out mate.
FFS.

Not incorrect doubleup, I clearly stated if workovers are successful, last line.

At least everyone agrees that irrespective of how long it takes to pay back the £500k that we will have an income source to pay it! After that we pocket it or take options.
A bit like a toll bridge, the company builds and pays for it out of its own pocket and then receives payback which will eventually cover the outlay and once that has happened everything there after is profit.
If workovers are successful we will have an income, 2 weeks or so to find out.