Member Info for miker444

Phew there is someone else out there lol. Yes luckyman thought we might have even got them this week so news imminent imo.
With multi - wells we really are going to end up with excellent bopd considering our size and MarCap. I will be very happy with100 bopd from each well at Monroe Swell. It may sound a low estimate but with anything up to 10 wells in time producing 1000 + is serious volume for a small player.
We still have West Newton, Parta, Grizzly Island, plus any other acquisitions, our time will come and we may not have to wait too long either.
atb

Thanks Greg, I think Simon has to stay as he is probably the only person driving this ( whats left to drive lol) and surely it will be his connection at Eagle Gas if anything is on the cards RTO wise that will make that happen. There is no one else that I can see.

As for Colter seeing as we have put money in and fully funded our obligations including sidetrack nothing to lose to wait / stay in the hope of the JV partners find a way forward to commerciality / monetisation and as you posted yesterday we simply cash in if we can.

Look forward to newsflow as you say. Certainly does appear Paul Hayward has got the midas touch as BLOE still going great guns this morning, wouldn't mind him sprinkling some magic gold dust our way.
Good weekend chap, lets see what next week brings.
atb.

Hi Greg, when it does fall what do think the next RNS may be about, again only opinions I know.

atb mate

to spud end of this month so only 3 weeks or so and would hopefully expect some production flow rate figures before then from California.
You never know we may get Colter South evaluation (not monetisation) end of month same time as WN.
My point being a decent amount of newsflow with 2 or 3 RNS's by April 30th imo.
atb

Joking apart the more relaxed he is due to successes elsewhere the more aggressive he could be on starting up new ventures, all successful businessmen want to build an empire afterall lol.

Yes California oil will sell at near Brent prices and not WTI.

BLOE Block Energy going great guns, if it makes Paul Haywood a lot of money then lets hope he will have the feelgood factor with Eagle Gas and agree a RTO with ADL or any deal come to think of it!

Badger I had already made an appointment with a good divorce lawyer thought it was too good to be true, oh well :¬(

Yet again thanks Greg, have to say unlike Indonesia dictating inward investment by asking for money upfront in escrow accounts (Bunga Mas) India is doing the exact opposite with financial rewards to entice private companies bringing in new technology to enhance production from home grown oil.
It almost reads as though India realise they are in trouble having to import $100 billion of oil every year, not the sort of thing you want to jeopardise if you can reduce it.

Q3 should that be 4 million barrels recoverable and not 4 billion?

Anyone had the time to see what may be available in India regards the Gas / Exploration Industry, anything obvious jumping out at anyone that private investment money could take advantage of with decent returns if succesful.
atb

Overlooked the 2nd paragraph, well certainly did not digest it and too wrapped up in the title resignation, where it states FIM Capital will now oversee the financials of ADL or words to that effect.

I note that Graham Smith CEO of FIM is also a non executive director of ADL and personally I think this may not be a bad thing and would go as far a to say its actually quite positive.

FIM from what I can see look quite a professional bunch with some quality employees and with Grahams connection to ADL he will or should have the best of intentions other than us being just another client.

Oops 0.15 not 01.15

MM's will do what they want until news of any description, for me 01.15 is no different to 0.2 at this low level as I won't be cashing in., the paper loss is so big for me I may as well just wait and see if the RTO / Colter and any other private investment does come to fruition / happen.
atb

The start perhaps of BOD restructuring to move forward in the new direction / RTO etc?, you may be right FB.

atb

Thanks Greg appreciated mate.

The 3 weeks is just the start of working out the evaluation I believe and how best to bring it to commercialisation, the monetisation part of it will take a fair deal longer but at least if succesful it will underpin.

Greg I know I loosely asked this morning but have you any knowledge in RTO's and how they can affect ( ADL) if undertaken, I genuinely am struggling what it would do and the benefits apart from obviously stopping us from gong under.

atb

Totally agree bob, I think California will be extremely profitable it seems as though regulation / permit wise all you have to do is ask if you can have other wells and it seems to be granted. I think UKOG would be better placed there than all the red tape in the UK coupled with swampy and Green Peace crew, they have nothing to show for 6 years of priomise

Hi archir just seems a strange time to sell mate imo.

We have production figures due from Monroe Swell, pay of 60m & 90m from the first 2 wells and talk of multiple wells possible double figures.

We have the West Newton gas project being drilled end of this month with 72% COS with an NPV of $247m and a potential of further NPV of $850m from Cadby Formation. RBD own 25%

We have Parta / Danube in Romania being drilled in a month or so.

We have Grizzly Island California yet to be drilled with NPV of $100m.

Still waiting outcome for Colter South with the 15m barrels being quoted as conservative but yes have to find a buyer.

We have a lot of cash in the bank for further acquisitions as and when they arise.

Genuinely can't see how you would lose it all with the above known projects especially with sp this low but in particular the timing of selling up now seems strange when waiting a couple of months, if that, for most of the above to come into play sp wise.

However, respect all posters views.

atb

Thanks Greg, appreciated.