Member Info for miker444

Lol, exactly BC my point from earlier post. No comment which is usually a matter of course in a last paragraph reiterating the RNS content.
Everyone can draw their own conclusions but to me there was an inkling that they may be too busy to interrupt their focus and dealing with bigger things. I could understand a no comment if the drill had been a duster but we have oil and gas shows in line with pre drill expectations so just a bit miffed as to what is an RNS with the content everyone had hoped for!

Oil & Gas shows in line with pre drill expectations, very matter of fact RNS with no comment from Steve or Sachin but it does state updates will be provided once workovers underway and commerciality known etc Probably nothing to add at this stage.

It's the hope that keeps you going lol

The very fact that final production figures have not been released does suggest they have hit a problem and agree is the reason why the draw down could not be used. The obvious question is can they overcome it, it is certainly a big ask to go from 2,000 bofpd to 6,500 bofpd and may have bitten off more they can chew to do it in such a small time frame.
Could still come in over the 150 bopd target but how soon. Would have expected an update but quite possibly Simon will be aware that negative news would impact the sp even more than it currently is and will want the next RNS to be the '150' one.

Genghis, cracking post mate, lets see once we prove up WN & Parta if we get closer to monetisation and with it a dividend windfall.
atb.

My point is doubleup I watched the sp earlier this year make some big % gains on sentiment / expectations well after the consolidation ( you are correct in your calculations of past consolidation and not questioning that).
Anyway off home now.
atb

Sentiment alone of achievement, proof of concept. Hard to believe not long ago we touched 1.3p nearly a multiple of 10 x from where we are now on the sentiment / expectation of Colter / Bunga Mas / Eagle all with nothing proven. That's all, nothing else and you may well be right.
atb

Just to add I averaged down quite heavily from 0.95 to 0.38 due to 1p looking a distant reach. I expect a small sp rise on 150+ bopd production figures perhaps 0.2 - 0.25p and who knows another sp rise to 0.3's on any deal with CAV, could even break even and if 0.39 is achieved I am actually in profit. That's my current position, warts and all :¬).

2 timeline answers to that doubleup, if I could go back before any investment then no absolutely not I would not have invested, it was Colter that looked like it would return big gains on the MarCap of ADL at the time and to be honest a lot of other Companies got caught by Colter, RBD, BOIL, UJO etc.
If I had no investment at all in ADL would I invest now?, unlikely and probably not but seeing as I would not be in book cost deficit I would see the extremely low sp as a punt to nothing and may put a little in just to see if a deal with CAV could come off. But it would be a small amount and cashed in immediately on the proof of concept results and done with the freedom and peace of mind in the knowledge that I am not nursing a big paper loss. I will roll with it and see what occurs.
atb

They haven't but we can only go forward and not go back or change the past. Which is why as small as it is the Indonesia work overs are the first concrete physical undertakings that I know of in ADL's history, I could be wrong but no one can deny that they do not exist or not producing. Something that we have never had before so me personally despite being aware of the past I will look to what lies ahead in the hope I can recoup some losses.

Whatever happens we are due news on the production rates, without wild guesses on the figures I think 150 bopd will be met and possibly 180 - 190 bopd. Those figures should justify CAV further involvement to other wells, 19 in total I believe that are capable of having similar work over uplifts and also the Selo Gas Field with the talk of many formations being accessible from one well.
Once we have paid off the £500k then if / any other deals should see % returns direct to ADL, hopefully.

The final figures will depend largely on the increased volume of bofpd from current 2,000 to as near as their aim of 6,500, a huge uplift of more than 300% and If the oil / water cut can be maintained close to 5% / 95% then 150 bopd should be smashed and 200+ bopd within reach.
Just need the fall out from the proof of concept in achieving or exceeding the 150 to get us further involved in CAV, hopefully early in the New Year, but 4 work over results before Xmas first ! lol.
atb mate

Hi Greg would be nice to get some news before Xmas and even better if its positive, I noticed on the website this morning a reiteration by Simon that he is looking forward to maintenance uptime and revised figures or words to that effect so i did half wonder if that was put out due to news being soon.
atb

Fair points Badger although S&S made no mention of VG - 5 but went to VG - 6 so RNS's a little lacking of late. See what tomorrow brings.
atb

Agree Badger which is why I questioned if they were correct, but I would expect an increase in flow rates, not necessarily those figures on twitter, but purely due to the wells being unconstrained once the gas tie in was sorted.
We did initially have exceptional flow rates albeit not stable so I do expect an uplift as and when we get an update.
Only time will tell and on the plus side S&S have stated they will be eventually looking at a total number of wells in Cali being in double figures. It will take time but every extra well now self funded from the previous one,
atb

Yes we get 50%

Agree grewber (my first sentence stated if those figures are correct), but looking at the twitter posts they appear genuine and a snapshot included of the figures from temporary energy?
As per your 3rd paragraph it does state VG - 4 unconstrained so hopefully the flow rates did increase significantly once the gas pressure was tied in.
Either way be nice to get production figures confirmed, whatever they are!
atb mate

If this post is correct and we are getting nearly 900 bopd from just 2 wells then that is truly exceptional. When you see the likes of 88e spending an awful lot of time and money chasing 100 - 200 bopd it would appear that at Cali all we have to do is drill through the mud and we hit oil.
I agree with the twitter posters that S&S are chasing more licenses in Cali and will want to hit the holy grail figure ( for small oilies) of 1000 bopd to hit the market with as much impact as possible.
Block Energy (BLOE) sp went through the roof (+300%) on announcing similar figures before they dropped back due to premature non stable production figures, again if correct our figures look as though they are stable so we will not suffer the same fate. We are 1 well away from 1000 bopd+.
Cali self financing every extra well and has been overshadowed, rightly so, by West Newton but a great contribution to RBD's portfolio in it's own right.
Totally agree deemule 2020 will be a great year for shareholders who can be patient for a few months longer.
atb

doubleup, no need to turn the screw mate certainly at investors who may be locked in at a huge paper loss. I have been open and stated on many occasions that some of us hope to get our money back or at least a decent amount of it reducing the size of the loss. I have been upfront about that and also how risky this share has been. You have stated mate that you lost here big time in the past ( £50k I believe) and I can share that feeling as I am in that position, although not realised the loss due to not cashing in at an 80% book loss.
I would never mock your loss or anyone else's here on the board and never if I am not an investor anymore, it's bad enough anyway but to see a fellow poster poking fun is pretty low mate.
And before you state people are being sucked in on alleged 'ramping' they are not, no one is buying, no one, we are stuck with it and wait to see if the final total production from the 4 wells will breach 150 bopd.
This proof of concept may then get us a further participating deal with CAV, it may not. But it is a possibility that the share price could recover from where we are now if that were to happen.
I genuinely wish you well and every success at making profits from your investments as I do with any investor.
atb.

Does look like VG - 6 was a more suited option logistics wise but I have to admit surely it would have been prudent to give VG - 5 a mention and the reason plus a timetable when that is expected to be underway. Good to confirm self funding from a financial position but nice if we could have some production figures from Cali as they should be stable by now.
atb