Member Info for Spikeyj

does that mean you’ve sold out already, earl?

fair point re the align TR1, my
mistake, TR1 from dilution, apols.

(lol, that’s even more of a red flag for
ADME, align being positive about it!)

(the whole thing is rather reminiscent of the way that clerics in the middle
ages and renaissance used to scheme and haggle to get awarded ‘benefices’
or livings, parishes etc. that would pay them a good living for doing nowt.)

one additional comment on the calculations here, then i better get back
to some extremely muddy gardening — bear in mind that if TBG do take
up the two BoD places apparently on offer, then they will be able to extract
pretty significant amounts in pay & perks from those, with very little actual
work involved. look back at the chunky six figure amounts osa siphoned off
each and every year (and of course that’s just the amounts they declared!)

getting a year or two of director life-style pay and perks would
nicely helps to offset initial outlay … say for instance if TBG get
two directors ‘earning’, let’s say for the sake of argument, £125K
a year each … in two years they would have netted £500K anyway.

nice work if you can get it, eh?

earl, finally you’re said something i agree with! … yup, i’m
pretty sure that TBG (randy connally) knows things you don’t.

my apologies, loan is $250,000, not £250,000.

(we’re not quite at dollar parity yet!

£250,000 of the money is just a loan, not an equity stake. there’ll be
interest accruing on it, & if the company goes bust they’d rank well
ahead of shareholders for repayment (whether it’s secured or not).

£500K for an attempted P&D in an AIM oiler…
nothing that special about that amount earl.

(& this being the very scummiest end of AIM, we will never get
told either whether there might have been some additional
encouragement provided to motivate that headline 1.2p price.)

simple answer, attempted P&D.

if you want your ramp to be a bit more convincing earl, you either need
to get other people to join in with you, that might help, or alternatively
try posting some additional information or reasoned analysis rather
than just repeating the same post over & over again. just a suggestion.

10:07 “… we will have no way to pay this back unless we get a cash settlement on Barracuda”

remains to be seen who will have to pay what from the legal action; ADME
may well end up having to pay others, rather than get any ‘cash settlement’?

in terms of paying back the loan:

(a) i guess the planned mechanism for paying back the loan is to attempt
enough of a s/p P&D to get another placing away at some point, and use
placing money to pay the loan back. after all, that’s been the business
model in MXO/ADME ever since it was born out of the carcass of PPA
/ASTAR. that seems to be what happened with the previous loans that
were made to this company by various individuals under osa’s tenure.

(b) although a more cynical scenario could be that there is no real
intention to repay the loan at all, rather the loan allows BoD to continue
drawing salaries for a while longer, & then a default on the loan means
that somebody ends up with the aje stake on the cheap as forced default
settlement, rather than through any open market transaction … but
they haven’t published the loan term details, so default terms murky!

earl, align used to cover ADME, but then they ceased to cover it
& they stated that none of their previous research/targets should
be relied upon. you can see that from align’s own website:

http://www.alignresearch.co.uk/cpt-company/adm-energy/

notice also that whatever align tweet, align are a *seller*, as evidenced
for example by the recent TR1 RNS showing them dumping ADME shares.

earl also seems a bit muddled about barracuda, to put it politely.

one very obvious issue is that *nobody* has *ever* managed to
discover *any* commercially viable oil to produce from barracuda.
(… several drills over the last 50-60 years have failed to find any.)

(it is of course possible that somebody might strike it lucky one day,
since there will be plenty of hydrocarbons down there somewhere,
but they’d need to be drilling in the right spot, with the right geologic
trap mechanisms intact, and without excessive water penetration.)

the other, very substantive issue, is that ADME *don’t* actually own any
of barracuda at all, neither the real estate nor even any percentage of
the licence. all they they have claimed to have before was an *indirect*
interest in a percentage of a risk sharing contract. two big snags with that;
firstly, they are trapped in a legal dispute about they do actually have that
indirect interest in an RSC at all, with some folks alleging ADME just didn’t
pay what they needed to pay to obtain that … further court hearing due in
a few days regarding that issue. secondly, the whole barracuda saga has
taken so long that the actual license holder has got fed up with the parties
involved in the RSC, & may just be looking to reallocate the work anyway.)

you seem a little confused, earl.
what align research do you mean?

(hint: align are sellers in despair at how awful adme is, & *retracted*
their coverage and targets on adme quite a while ago, didn’t they?)

it’s interesting that they didn’t make any attempt to clarify whether
the loan is secured or not, and if so on what assets and with what
agreement about penalties and payment in the event of a default.

ADME actually has very little indeed by way of meaningful assets, & no
cash coming into their books [other than placings & loans] … i wonder,
if ADME defaults on the loan, does randy just end up with the aje stake?

that wouldn’t leave much for any remaining shareholders if so.

update due from court re the legal dispute about ownership
of interest in barracuda within the next two weeks. my guess
would be, yet another deferral to a future court date in 2023.

(although given that osa is gone, ADME might just abandon
it anyway? - same as happened with the marginal field bids,
the trafigura MOU, etc, etc. … all just smoke & mirrors imo.)

i hope for your sake they can rustle up a better
class of ramper than earl. still, maybe if he posts
enough times, someone will believe him eh? gl!

earl, it’s just the same old, same old dream.

randy connally will try once again to spin the ‘dream’ that adme
is going to sell the aje stake for lots of money, in order to fuel an
attempted pump and dump. sure, a few folk might fall for it again,
after all there’s one born every minute, but it’s a *very* tired old story
wheeled out many times over the years with no sale ever resulting.

aimho.

also imho, randy connally’s involvement in ADME is an
additional huge red flag ( - as if ADME needed more, lol! )
… anyone considering a punt now he’s involved should
bear in mind how he utterly destroyed value at NCT / MYN.

campervan & the gang might need to pump a bit harder.

the faces on the BoD might change a little, but (MXO/)ADME
has just been trying to spin the same old ‘aje’ story for years.
(including connally, he was playing that game a few years ago.)

not many folk falling for it these days.

? maybe they should try a new tune?

reasonable retrace …Q3 results next week?

(NB given that aje is a disastrously uneconomic money-pit, probably
more accurate to describe aje as a liability rather than an ‘asset’?)