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Noticed that at the EGM, when the new team joined, they resolved to allocate up to 1,500,000,000 shares, whereby the upcoming AGM sees allotment of up to 3,000,000,000. I think the first big deal is getting closer and lined up for after AGM possibly in December. Time will tell.

Morning double, hope you are well and thanks for posting, personally think we are only weeks away for a transformational deal and accumulated significantly as I see it as risky but with an incredible potential. Keeping a close eye, as you do, on ARCM which I also like, but that’s for another board.

As per Feb board changes the third ADV ‘founder’ John Battrick is also key and aligned with us as with his shares and options holds around 5% of ADV:

John Battrick

John is a geoscientist and has worked in the E&P sector for five decades for a number of international oil companies. Although he has held several senior managerial positions in SE Asia, Africa, UK and USA ranging from Country Manager to Regional Exploration Manager to Chief Geologist, he has preferred hands on interpretation, spending the last twenty years consulting in South East Asia in new ventures and business building roles. In recent years he has been responsible for significant wealth creation for a number of clients identifying both exploration and development opportunities. He has a Master's degree from Imperial College, London.

Garry I agree with your comments and incidentally suggested that they remove Indonesia as an asset
From the webpage as I’m also a person looking at the details. Overall at this stage I rather prefer Mark, Leslie and John concentrating on the assets they brought in instead of giving me a beautiful webpage. The outsourcing to Xodus is very smart and will keep costs down and ultimately they will bring in a few institutional investors. As Leslie mentioned they will add people at a later stage, all in all very sensible approach.

Garry I can see we have the same views here. In respect of the why they get involved, it’s simple: they worked out over the last few years a few incredibly interesting opportunities with incredible upside if you have a shell with minimal Mcap to drop them in after you have become a significant shareholder. With options and salary in shares the 3 founders have 1/3 or what could be a mid cap, say $100mio!

In addition I like these two paragraphs of the final result RNS:
Our strategy is intended to create a sustainable business capable of exceptional growth, as well as delivering ongoing returns to shareholders via a dividend policy linked to cash flow generation from our project portfolio. Clearly, it is too early to elaborate on this policy but we feel it is important to state our intentions early.

In fact, it is fully consistent with our founding philosophy of maintaining strong alignment between shareholders and management. At the current time Directors and executives own in excess of 20% of the Company and we want to keep our strong alignment as the Company grows.

Pleasure. The essence of ADV is that it is today a high risk investment but one with even much higher potential due to the new board and clearly stated strategy if delivered.

Garry https://www.advanceplc.com/about-us/our-strategy/

Agreed. I expect the first deal before year end but honestly not worried if we have to wait a bit more. Clearly with some of the deals they are looking at we might be talking of an RTO, I which will take longer. As I mentioned before this has the potential to replicate the RRE price trajectory if they do deliver on their mid cap in 2-3 year ambitions. Remember that Maximum patience could deliver maximum returns.

The fiscal year is 30 April and got a feeling that one or more deals will land in coming 5 months looking at the latest teeet:
Advance Energy Chairman Mark Rollins “this year we have a simple set of objectives - the primary one being to execute one or more transformative transactions” #ADV #hiddenvalue

Slift, fully agree. My take is that a cash shell is probably worth a couple of mio and the rest is based on the CVs of the new board and strategy. We all know that other small O&G with limited production and much higher running costs have higher mcaps which we could debate at length. I had the pleasure to be introduced to Leslie and Mark and they are incredibly smart. They have done this in their careers and therefore in my opinion they are credible, time will tell if I'm correct.

We all know, and I agree with Sons and Slift, that ADL was badly run to put it mildly, but there are many other shares where the price destruction over the years has been incredible (ZEN, ECHO etc). ADL is no more, although the next ADV set of accounts will cover some of the ADL last financial year, which clearly was rubbish. The legacy assets are basically worthless and ADV's new board have been clear on that. As Leslie mentions this was a ready shell with no debt for them to fund to work on the assets they are looking at. Conclusion: time will tell if the new board delivers, but I'm confident they will and invest now based on the fact that they own with share options at 0.30 around 1/3 of the company ie very much aligned with other shareholders, impressive CVs ie they are not here just to get the salary (paid in part anyhow in shares), clear strategy and connections to make it happen. Others will wait the first deal and I fully understand the logic, but I can take the risk already now hoping for a far greater future return based on the fact that thanks to the ADL leagcy the MCAP is incredibly low. Enough from me as there will be weeks to wait, but I like very much what I see compared to other O&G shares with this MCAP.

Couldn’t disagree more, but we can all have our views.

Couldn’t agree more with other comments, I have been buying for months now as i have no doubt that this has the potential to be one of the best investments around. It might take another 4-5 months but If they deliver as I think I can assure you that the share price will be way higher than now.

Don't think they could be much clearer.

patch, no idea, it could be or a few more weeks, but I think we are getting closer. The tweets continue: ' ... our journey is just beginning but we are excited about where it will take us!! ' I have been buying shares all year and have now a significant position, already nicely in profit, but intend keeping most medium/long term. I have learned over 25 plus years of investing at doing my own diligence and waiting patiently (very difficult to do) when the opportunity has an outstanding upside potential, clearly alongside its risks which one needs to be able to take. For me the question is easy: Would these top guys spend their time and money to buy in essence 1/3 of a vehicle if they did not think that they can make millions for each one of them and any other institutional and non investor coming in ? I think we know the answer ..... enjoy the weekend.

Tweets are getting more interesting by the day, latest one: 'We target material projects that can get us significantly closer to our ambitious goal of at least 20,000 bpd by 2025'. Let's wait patiently because these deals take time, but we are clearly talking about material deals they are working on.

I had a look out of interest and the ownership sees: Peterkin/CEO 8.9%, Rollins/ Non Exec Chairman 9%, Battrick Tech manager 4.3% and West/CFO 0.6%.
Overall the new senior board and management own 22.7%. Peterkin, Rollins and Battrick have also options at 0.3 which would the board/senior management holdings to 29%. I would guess that part of their remuneration is in shares and in essence they will hold close to say 1/3% of the company. That's what a call skin in the game and no wonder they say they are aligned to shareholders and want to deliver exceptional returns.

It could well be as it was the first interview since they came in during February 2020, but clearly a great opportunity to tell the market their strategy and that they are getting closer, as per also latest RNS, to bringing 'shareholder a compelling transaction in the near future'. The last RNS mentioned:" The Board is encouraged by its initial due diligence and the multiple, positive funding discussions it has initiated". I don't think the message could be much clearer. Fingers crossed this replicates to some extend the RRE move, but if those deals get done I can't see why not. In respect of funding I think that they will bring in institutional investors and raise with a mix of equity at a higher price level and debs (loans/offtakers) and that's why I have been accumulating. I'm usually not as vocal on other shares, but in my mind the opportunity available with the new board, and projects, for a £4-5mio mcap does not happen often and the interview confirmed my views, but only time will tell if I'm correct.

It could well be as it was the first interview since they came in during February 2020, but clearly a great opportunity to tell the market their strategy and that they are getting closer, as per also latest RNS, to bringing 'shareholder a compelling transaction in the near future'. The last RNS mentioned:" The Board is encouraged by its initial due diligence and the multiple, positive funding discussions it has initiated". I don't think the message could be much clearer. Fingers crossed this replicates to some extend the RRE move, but if those deals get done I can't see why not. In respect of funding I think that they will bring in institutional investors and raise with a mix of equity at a higher price level and debs (loans/offtakers) and that's why I have been accumulating. I'm usually not as vocal on other shares, but in my mind the opportunity available with the new board, and projects, for a £4-5mio mcap does not happen often and the interview confirmed my views, but only time will tell.

Another tweet out saying: current challenges in the oil & gas sector only offer more opportunities for Advance Energy! CEO Leslie Peterkin "we remain confident in our ability to bring shareholders a compelling transaction in the near future". We are clearly getting closer, keep calm and top up if you can has provided me with significant returns in the past and I'm doing the same with ADV.