Member Info for Quitie

I've read the RNS and can't help but think there's alot more to come with the drilling programme.. The 2x biggest targets are yet to be drilled. That coupled with how advanced the plans are for the production phase (FPSO almost secured, oil off-take agreements in place)

'the Company remains excited about Serenity and Liberator West where the majority of our on-block resources are mapped'

Completely agree - how people can shrug this off when it's a 3 well campaign (all with completely different targets?)

The 2 major drills of the campaign are still to come, and either one of them hitting their target will result in a huge rise here

You can't just do as you please when you're drilling. Drills have to be planned in advance and signed off by the regulator based on what you're doing. As per the plan - this will be plugged and abandoned (standard procedure)

This being said, the logging data they are gathering will be just as useful (albeit no big WE HIT OIL rns..)

The 2 big drills of the 3 are the next 2. We must be finishing operations imminently on the current well so expecting an update shortly

People have got to remember that Baker Hughes (the main drilling contractor) have agreed to take payments for the job from revenues from first oil.

These are the experts who have seen all of the data and know the job inside out. I work in the industry myself, and can assure you companies do not do this often - confirming the potential (and confidence) in this field.

For a field that can / will be producing 20k bpd by next year, this is an absolute steal

This reservoir has been drilled and oil been found before.. They've just missed the reservoir with this pilot drill (why is wasn't called an appraisal well)

£86k buy going through, institutions obviously know how much of a winner this company is. Can’t remember the last time there was such a promising oiler

The fact Baker Hughes are willing to wait to get paid for their services from the revenues from first oil speaks volumes about this drilling campaign and the prospects..

I look back at your posts and seriously question if you have any clue what you're actually doing..

The Aje can't & won't get developed unless all the partners are onboard. We're by far the smallest partner (just an investment vehicle, we bring nothing technical to the table). If you also look at other partners, Yinka (operator and majority partner) are no reputable oil and gas outfit (they've also got a farming arm ffs), Panoro look to be the most proper outfit and going by their presentation, aren't selling the dream of Aje to their investors in the slightest. New Age Energy where OO is also involved are another with next to no engineering experience or capacity.

I encourage you to go have a look at these partners and what you bring to the table, before you speak any more drivel

Everyone going on about Aje prospects (as I was before)..

Look at slide 7 on the newly released Panoro Energy Q2 update.. They detail all the plans for their assets, while for Aje there is literally nothing expect the current producing wells being run into the ground... This is not a de-ramp, this is just saying it as it is. I'm with bluefiesta here when I say there's nothing to say this won't be heading to 4p again. Yes we may turn a slight profit, but not enough to be going after any sort of credible oil and gas investment. Unless you want to be in this for years to come, I'd have a look at some companies which are actively doing business, and not some shell companies that happen to have an investment in oil

https://www.panoroenergy.com/wp-content/uploads/2019/08/Panoro-Energy-2Q-2019-Webcast-Presentation.pdf

The issue with the Aje field is that no partner seems that ar$sed to develop it - look at Panoro's recent update publication - well detailed plans with whats going on at their other 2 main assets, yet barely a couple sentences about Aje.

This won't be going anywhere for years, almost half of the 500k raised will be purely wages to Stefan over the next year. Face it guys - we've been fleeced here.

Takeover, you have got to be joking? The guy who had took us off over just jumped ship and left everybody out of pocket

Hey Guys,

I've just bought in here, whilst actively working across the UKNS in production engineering I don't know how this gem has kept itself off my radar, but looks to have cracking medium term prospects.

Just came from the absolute disaster that was ADME, so wishing for a better ride here. The research I've done looks very promising, and looks like it could well be one of the better finds across the whole region over the next couple years. Excited to see what this one brings.

Also must say - doesn't seem to be too much PI's aware of this one, and it's near-term potential upside

I'm one of the most openly optimistic guys going, and coupled with being in O&G I was very impressed with the prospects at Aje - however I've been doing a bit of soul searching and agree I might finally have to admit we're ****ing in the wind here. Bit of a sh*tshow and as people said - we're now back to the same company with has a SP of 4p pre-HH

Yes Aje could produce 50-80k, but plans have been ongoing forever, and even then it would take years to fully reach it's potential..

Looked into I3E and seems like a cracking prospect in the UK, which has a drill rig on site with the drill programme CoS at 70-90%. FPSO terms agreed in principle, all looks far more robust than here. The drill programme which has just started will take 90 days and could be transformation..

May or may not see you there - GLA in your endeavors either way

Ridiculous - as much as I like the asset and prospect, the way everything has been handled and what has happened via the company is putting me right off.

Tempted to play it safe (if that's such a thing) and move my money to I3E, currently starting a development (not appraisal) drilling campaign in the UK NS - a bit closer to home where I know they aren't as crooked

Earnings per lifting from Aje to ADME is approx $600k, and after the next lifting will be profit in the bank, so even with the depressed share price, this is still huge returns for such a small company

OO: 'exploring other opportunities' - while I am very fond of our current asset prospects, it would be great if we could get involved in another project so this was no longer a one-trick pony. I think turning a profit by the end of the year will go a long way to realising this ambition

Plenty buys coming back through again - the worst certainly seems to have passed

I can get a quote to sell 100k shares no problem, with the price rising every couple mins when refreshed

Can expect a few TR1s over the next couple trading days regardless, hopfully will shed some light on who's now got the most skin in the game

I can certainly see past all this. If you look at every partners website, they all say planning for Phase 2 Aje is well underway. I've said countless times about the maths...

Aj Phase 2
50-80k bpd
$163-260k per day net to ADME based on $65/bbl (minus lift costs and financing which would be at max 50% of that)
Funding would be secured as a partnership as was Phase 1 ('the project funding')

This is a field that could be pumping north of $5m per day overall at peal production - do you really think the partners won't progress this?

It doesn't matter the BoD - the Aje development is being driven by the larger partners who are serious about the prospect. Hell stick me in the chair and it would make no odds