Member Info for Quitie

also bizarre that (on google anyway) this brought the share price into the green.. even after the big buys earlier on

Agreed, how on earth can the price be lower given the buys v sells today - bit of a joke

Some nice buys going through also, people obviously realizing this is still a steal at these prices..

And on Yinka Folawio Group website (the operator), they claim the full field development will produce between 50 and 80k barrels per day (early production system currently averages 3k per day - these are put in place to generate revenue prior to the full field development taking place)

https://yinkafolawiyogroup.com/upstream/facts-and-figures-28

doing some wide research of the Aje field and came across this on New Age's (major partner) website:

http://www.newafricanglobalenergy.com/nigeria/

This shows a potential development for the field, and being in the industry myself, can confirm this is a significant development. If that's the potential here then there's no way they won't be cracking on with phases 2 & 3.

Personally I'd love if ADME increased their stake-holding in the field by buying up some of the partners interests.

Back to the tiny volumes until news drops.. More than happy holding away

Thanks for spelling that out, that clears it up completely so much appreciated.

Maybe ideal timing for them for the company to have a lump of shares at hand for issuing to any directors or the likes they're in the process of recruiting.

My exact thoughts too Manafon. Any significant assets / development investment will be made via funds form banks on favourable terms me thinks

The circa 70k is from resolution 5b from the notice of AGM

http://www.admenergyplc.com/pdfs/ADM-Energy-Notice-of-AGM.pdf

I guess somewhere in the middle would be good for us, a placing of less shares at a SP still at a discount could raise some decent cash as a stop gap for the mean time. I really can't see them needing much in the way of a placing if the main source of funding will be banks, leaning on HH's contacts etc as has been mentioned previously..

Am I missing something completely here?.. but if they only need to raise circa £70k, then in theory they may only need to issue 460k shares @ say 15p each? Roughly 1% of current shares in issue

Or do you think they'll look to raise significantly more cash, given they have the placing going?

I'm currently well invested here, and looking to add more. Can't decide whether to buy more now while the SP is very attractive as it is, or wait in the hope it may dip more / we get a chance to buy in lower with a placing..

I've signed up for notifications on RNS etc through the official London Stock Exchange website, works well for me

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BJFDXW97GBGBXASX1.html?lang=en

Votes for the upcoming AGM now available in my voting mailbox.. Any thoughts on the resolutions?

Whatever’s happening and whatever news may be imminent, I hope it holds off a few more days.

Lump of cash coming my way and it’ll be getting loaded into ADME shares. The potential for returns here will be exponential once it gets going. All about the volume of shares you hold to fully benefit from this. Never mind the traders living off their few % day to day...

The Sheik will be involved in the discussions though as to how to arrange the funding? You really think he'd just leave it to the board without leveraging any of his contacts?

With the connections HH has got, why on earth would he go somewhere for financing that will give him unfavourable terms? He'll have some of the worlds biggest and keenest banks on speed dial.

Wouldn't surprise me someday if something ridiculous like 500m of funding is approved to be used at ADME's leisure to let them kick on

It isn't uncommon for clauses and contracts to include the need to sell shares when departing. Equally so - there are many contracts which don't have this.

Unless told from official channels we won't know, however given the timing it certainly can't be bad. Certainly looks as though this is the start of him departing and the new management coming in

maybe selling them in batches knowing every time the price goes up for the next lot...

Likely the start of the process for the incoming new board members, out with the old etc

Director starting to dump his shares on his way out - the start of the good news train!! Good Riddance, onwards & upwards

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ADME/14133647.html