Member Info for NoEasy

'The deeps a perfect example , did not say it was to be drilled , did not say hey we spud
did not even give some whoopy...'

Next RNS will be to say that he sold the whole lot to Exxon at Christmas!

He bought at 0.58 on the open market last week, he said he wanted more but was prevented by the closed period so now he can have more at 0.54. Perhaps the title of the RNS was right but the content wasn't and he has bought more through the options.

Is it just me or has Art just used the last RNS as his template and forgot to change the title. This is not about a CEO purchase its about the issue of options. Lazy.

Greyseal, Include the CEO's buy in your question and the legitimacy of your answer is reinforced.

Here's an article from a couple of weeks ago:

When Insiders Buy Should Investors Join Them?
https://www.investopedia.com/articles/02/121002.asp

Of particular note is the following from the article paraphrased;

' The argument for shadowing insiders makes a lot of sense. Executives and directors have the most up-to-date information................, these insiders are way ahead of analysts and portfolio managers, not to mention individual investors.'

Worth noting the reference to analysts as the discussion yesterday was around research notes. Additionally not all 'insiders' are equal:

'Some insiders are better than others.
Directors know less about a company's outlook than executives. Key executives are the CEO and CFO. People running the company know the most about where it is heading.'

Key for me here has been the size of AM's dealing.

It would not be accurate to say 'some' criticism of Art's communication is justified while 'a lot' of that criticism is not. For sure that's the wrong way round, straight out of the spin manual and turns reality on its head. Let's not whitewash Art's contribution to our knowledge of these projects. That being said it's a reality that Art is showing no signs of changing and if that is true it's something that there's little alternative for investors to do other than to live with it. The downside with that though is it then rests upon investors/analysis to fill in any blanks without having the right tools to do so.

But, communication aside, Art is now very much in his element. His previous projects in Liberia and Nigeria were high risk exploration plays, he is now got production and in a much more stable jurisdiction. This is the key point in all of this, It takes a fair bit of effort to move from having both eyes constantly open to recognising that Art is very much on the edge of reestablishing himself in the manner of his glory days in the North Sea. Additionally his strategy of having a back-up project wherever possible, he secured OPL 226 while Liberia was still on the go, is one I have always agreed with and spreads the risk.

He is in his element, his purchase supports that, and his experience in getting oil out of the ground is a major derisking factor. Get to 5,000 bopd, as it looks favourable that we will particularly with Art's comment that his purchase was based upon the performance of the miscible flood at the Barron Flats, then we are in a really good position. With everything that has the potential to come onstream from these young, oil producing fields perhaps the time is right to concentrate fully on the future.

“ I had planned to purchase more but came up against a blackout period today which extends to the filing of our annual results on 30 March,” he said.

I guess the annual results blackout period took him by surprise!

The real effect of this announcement is volume. The removal of background stock being divested from any previous raises.

The added benefit is that AM believes the discovery is going to be commercial.

It shouldn't really need investors telling a company in the tech era that they have a deficient website. Good to see they were already on the case and building a new website.

Graphite/graphene as a commodity is starting, after the very early years hype, to put some muscle on the bones. It was identified as having unique properties but the feeling has been that the scientific/technological/engineering brigade didn't quite know how to make best use of it. It appears it is starting to come together now.

Just one article today that gives an insight.
https://todayuknews.com/economy/graphene-start-up-wins-backing-from-uk-treasury-and-cia-linked-firm/

I posted after the drill result that I would wait and see what happened with the Board and was expecting people to leave their posts. This is a very mature step that has been taken and the right one for ADV. Fully funded for the next 11 months is ambiguous though, does that mean fully funded for salary plus funds to secure the company through an RTO?

Additionally there seems to be some whitewashing going on with some posters happy to lay the blame at LP's door while talking up the remaining Board members. This was a team of six and the remaining five were as involved with the decisions on Buffalo as LP was. They should not be varnished and seen as the saviours, they identified, mutually supported and pursued the decisions concerning Buffalo as much as LP did. They have no better standing than LP and no better knowledge on landing the right deal than he had. That said I hope fortune favours them as we go forward.

I would also add that I have never in the past talked about JV's, take-over's etc with any stock but logic tells me that when the independent report (CPR) confirms the amount of oil in the reservoir as stated by AM , as I believe it will, and indicates that a large percentage of it is recoverable then it is very unlikely that AM will not be talking with others.

I feel there is a strong possibility that talks are happening already, preliminary talks don't need a CPR.

I was in ADV and even with a 95% chance of geological success it didn't come off. 88e has a 56% chance I believe and I hope that comes off for all the investors over there.

But the lesson is plain and simple, that the huge risk is in finding the oil in the first place and then enough of it to make it commercially viable. The amount discovered here is simply staggering. Given where we have been with this stock its still quite difficult to comprehend that Art and COPL has hit the mother lode, not by design either he admits almost falling off his chair. I would never have put Art and luck together, but here it is.

There's 'near term' and then there's 'immediate near term'. Unfortunately the wording here is that there is only enough cash left for immediate near term. I can only see them giving it until the wake is over for Buffalo which probably won't be long now, at least as far as the company is concerned. I also don't think there is going to be much difference between raising now and say raising in a couple of months.

'I've reviewed everything i did with my investment and time here and i must say i would do exactly the same again.'

Likewise Jezza, with one small but important adjustment for me. I don't think I properly took into account there was no other projects currently on their (ADV's) books so nothing to support us in the event of a failure. CVN did have other projects ongoing and got a fairly minor hit as a result. One for the notebook alongside state-of-the-art seismics and CPR's.

YM nailed it with his 21:46.

There IS an oil discovery and the independent Competent Persons Report (CPR) will be an in-depth look at many things including but certainly not confined to; Reservoir description, Geology, Field Development Plan, Capital/Operating/Development & Production costs, In-place resource volumes, Production forecasts, Project Risks and plenty of Modelling.

The notion that a CEO would disclose to the market there is a discovery but not really mean it but just to prove he's mad also then engage a totally independent CPR to publicly tell everyone, including his peers throughout the oil world, that there isn't really a discovery. That would be........a fantastical insight into the mind of a deranged CEO. I don't think AM has quite reached that lofty accolade just yet.

I wouldn't hold it against you Bolton, in fact the sooner we get rid of you at that price the better:-)

It's certainly over for Buffalo, nothing surer than that. The future is different. Unless LP etc just want to give up which I don't see happening then likely scenario is that ADV do find another project, raise funds and go again. I'll be watching to see if any directors jump ship first.

is a chart for any stock where the line only goes up without any drop backs. Whether this is going down or starts going back up is not something I am going to predict but if it is to reach the valuation that it should have it is a natural and realistic part of a stocks rise in SP to expect some troughs in the chart as it continues its journey.

Given the huge disappointment today can I just say that in general terms the response from posters has been exemplary. This has been a good board for me and I have learned a lot to take forward with other investments. Thank you.The fact that LP and MR had hundreds of thousands of their own funds in here, not funds from options etc, but their own cash makes it more digestible knowing I wasn't creamed by a pair of lifestyle guru's but part of a genuine high chance of success drill that in the end just didn't pay off. I am sure that they will be looking inwards and will regret that the momentum they were looking to gain has been smashed.I hope they pick themselves up, which I am sure they will do and find the right project for remaining and new shareholders which could be as soon as the next six months.

They won't drill further. The drilling is done. The Oil/Water Contact level has been reached at 3290m give or take 26m.

They did not accomplish 1C as they have stated the result was below prognosis. Its hard but it's now a case of what any future holds for ADV and that isn't clear yet. LP will equally be shattered by this result as this was going to be ADV's engine.