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Fully agree and they know it.

double, the CVs from Larry, Stephen and Mark compare incredibly well vis a vis other outfits with a mcap of £2.5mio, plus they have connections and already started advanced discussions on various other deals, clearly at least a deal they are looking at is from a major exiting an asset as they say that the opportunities they are assessing are suitable for debt or vendor financing. They managed to close Buffalo when they had a similar market cap and renamed Andalas which was bust. In order to execute Buffalo they raised $23mio cash against an asset with no production, so I think they have the potential to close a debt funded deal against production and this could out into an incredible share performance in 2-3 years. As usual only time will tell, but I prefer this new strategy.

I'm heavily invested so not impartial and therefore DYOR. As these guys always mentioned that they are looking at material assets let's say AS A PURE EXAMPLE that they can land an asset producing 10,000 bopd, that could sit in a company with a mcap of £100 mio , that would mean with 1,027,613,961 shares in issue now a share price of 10p. It might not but say now that it's debt funded and attribute a mcap of say £50mio, you would get back to 5p. Now this is pure speculation and there is no certainty that they can close such a deal nor that it will be debt funded, but at least I can see a POSSIBILITY of my shares re gaining what they lost. Let's sit back and see what happens during 2022.

Unfortunately LP over promised and under delivered. Necessary move by the board. Cost cutting also great news. Larry Bottomley, Mark Rollins and Stephen West have more than enough experience to land a production asset deal. Personally think this is a great move and it also means that ADV will no longer get involved in deals like Buffalo, but concentrate on cash-generative assets, like RRE did early days. I'm fully invested here, but otherwise I would buy shares after this RNS and hold medium term. DYOR

Dai2, let’s be clear I’m just guessing here an time will tell if and when a new deal lands. For us shareholders the optimal option would be a new deal being one around a producing asset which would allow ADV to borrow against it and therefore the shares in issue will remain the same their value could re rate dramatically if the deal is really value enhancing ie it delivers a profit net of borrowing costs. It might be that the deal can’t be fully funded by debt and also some shares will need to be issued, hence a degree of dilution. The last option would be similar to what happened when they funded Buffalo ie money raised by issuing new shares, in this case you don’t have to pay interest on debt issued but you dilute more. Ultimately the share price will go higher if any deal is sounds for ADV. Any deal would imply an RTO and suspension of dealing like when Buffalo was done because whatever we buy would be greater than our current small mcap, but when the relist we should up higher. No idea when this deal will land, could be weeks or months, but if you think they can deliver another deal, this time with hopefully production, you have to be a shareholder before the announce the RTO. DYOR

Yes Patch, let’s wait, as I don’t think a deal can be closed in a few days, and see what the next RNSs tell us. The last RNS concluded: “ … the team has been working on a pipeline of identified, attractive opportunities. We will now turn our full attention to bringing at least one of these to fruition this year. These are value accretive opportunities and include an opportunity with cash flow, which would be suitable for debt or vendor financing. Our immediate priority will be to significantly reduce costs while we assess the next steps for the growth of the Company."

Very good points which I'm sure Shishir, Puruvi and the rest of the TGR team will no doubt evaluate. I have just send a WhatsApp to Shishir, but as Glengarth mentioned I suggest you also e-mail them with your comments as they are always very alert to act on any constructive input.

Muscles, as a large investor, I was shocked by the result, as I didn't expect it. I spoke since with one of the board members and they were shocked too. In respect of Leslie, I don't think he lied, but he certainly got carried away with his comments and guess that the CPR and the fact that the seismic was as per plan at each casing made him over confident. I'm still a large holder, as I think that they will be able, as done when they took over the 'bust' Andalas shell, to raise funds for a production or appraisal deal. Money is always available, even post the Buffalo disaster, for any deal which would massively re rate a small cash shell. How long it will take to close a deal is not clear as it could be weeks or a couple of months, but they will focus on this next deal and have enough cash to get to that stage. One thing which will clearly be very different is the focus on deals where production and cash flow generation are present, which is a must at this stage. Patience required ...

DBD as mentioned before my understanding is that TGR don’t need to raise and if/when they develop Mozambique they will focus on debt. Adding down here and holding long term will generate in my mind significant returns. We already generate revenues and these will increase year on year.

Very interesting is that on Level 2 brokers usually show their hand usually only in small sizes ie 30,000-50,000 shs (although they clearly might work an order for a larger amount behind the scenes). Now WINS (Winterflood) is showing a BID for 1,000,000 shares. Personally think this has bottomed at this low 20s level ie the holders who wanted to dump shares have done so, others like me are waiting for another deal (production/appraisal whatever) to materialize (which can take weeks) are not selling and therefore any hint of good news or plan forward will push this higher imo. Let's see what happens.

Couldn't agree more, the upside here is considerable if you hold these shares medium term.

Couldn’t agree more. As mentioned before I think these guys have the capability to fight back and that’s why I’m not selling and would buy some here if I didn’t have a large position already. Patience definitely required.

Talking of 8.5 target, which would more or less 100mio mcap which I think will happen especially on news on the very profitable recycling side, enjoy https://twitter.com/zakstraderscafe/status/1486322451906768896?s=21

Incredible grades and just the start, can see many more RNSs like this following.

Been invested since pre-ipo and got to know Shishir well and for clarity, although I have reduced my holding a little, still hold a very large position of shares with a long term horizon for multiple returns as I see this becoming a mid cap as incredibly well positioned in a booming sector. My understanding is that they currently don’t need to raise, clearly if and when they develop Mozambique they will have to, but that will be debt funded. Clearly if we get to 200p or higher they might consider a raise even if not needed to speed up the roll out on various fronts, but as I say not required and definitely not a concern with revenues growing massively year on year. When I’m asked to suggest a company with limited downside but massive upside, TGR is the one, and that’s why it’s my largest position.

Invested 2 years ago because our a board which can deliver large deals. The Buffalo result has shocked everyone involved. Leslie got carried away on the back of the RICS CoS etc with champagne comments etc. They could probably have drilled between old producing wells and target a lesser oil column, but opted, I guess with a large input of CVN who are an explorer and had much less to loose, to go for the bigger price. It has not delivered and this does sadly happen in this sector, although they found some oil, but not enough. The board in my view is still experienced and will recover from this shock by: changing focus towards producing or development assets (and have some in advanced negotiation stages), utilize debt funding as much as possible to avoid dilution, reduce costs and make other changes deemed necessary. Let's see, but there are shells with no deals or cash out there valued at our level. I took profits (could have taken more but got greedy), got hit with the shares I still hold, but remain a long term holder, as still hope that ADV can replicate RRE's growth trajectory.

Markeurasia I held Ben and it might do well and it’s up to you how you invest but one lesson I have learned over the years is not to put everything in one share to avoid getting wiped out completely, especially in early stage oilies. As of yesterday I’m down around 20% this year as I still have a large position in ADV and other shares have also pulled back a bit. I concentrate my investments in around 5 large share holdings (by size TGR, TM1, SpectrumX to list March, ROQ, ADV) plus a few smaller ones EISB and another 4, which makes matters pretty volatile for example +65% in 2020 and +55% in 2021, but where a single disaster does not mean game over. All, ADV included which I keep here , are long term and I usually buy them when they are with a very small mcap (see @Stefano_shares on Twitter if you like).

LuckyStrike As mentioned before this is now a shell with a MCAP of around £2 and a similar amount of cash, but at advanced stage of negotiating accretive deals. The ideal one would clearly be the production asset with primarily debt financing. So I look at it now as a different proposition ie very risky but conversely one with an even greater upside potential because we are at a much lower MCAP. There will be people who can take this risk and buy here, others like me who are not selling a very large amount of shares held (hence reducing the free float) and others who are unbale to take the risk and probably have exited by now. There are cash shell out there which many pump although they have no exact asset in a negotiation stage but which trade twice the cash level. Time will tell but for me pointless selling here and will just wait to see what deal they close this year DYOR

great news, very relaxed about TGR, it's a beast in the making and investors will come back in when it's already much higher. Sit back and accumulate if you can.

DBD there could be also an element of equity, but one asset seems to require primarily vendor debt from the last RNS. Let's see, but I would expect them to RTO into a producing asset of a certain magnitude, as these guys are definitively not looking into a 500 bopd asset, which could emulate the first deals done by RRE and even with some dilution the upside from a £2mio mcap company would be significant. They clearly have to change strategy post Buffalo and I expect them to do so and also hopefully announce what 'cost cutting' measures they are taking and really push quickly forward to close another deal, enough from me and will leave other to comment, as I will retain my holding and wait even more patiently.