Member Info for Spikeyj

war, tick,
pestilence, tick,
—> famine next?

(traditional, innit?

blimey, ginsky, still not dead yet, like a coelacanth.

? how do you imagine this company can survive for another year
with nothing at all coming in, plus debts and cashburn ongoing?!

https://www.thetimes.co.uk/article/insurer-aviva-learns-to-avoid-costly-accidents-v7d6s5clc?shareToken=4c0d27294b25dff364319425569ee1a1

there was zero cash anyway even when aje was producing. since all
aje revenues just disappear into the black hole of project level debt.

… nonetheless, added (small) today to longer term holding.

tho’ i see mean old kepler have down-graded : (

? maybe fonters, hepran, neo99, williams, giantsquid, uncle or
another of the old krazy gang would like to provide an update?

(after all, they always seemed very certain
about what was happening with WRN.)

and ADME still owes project level debt regarding aje.

so now zero aje revenue to pay that back, with the interest
charges still mounting & the risk for ADME to lose its stake in
aje if it can’t meet its funding obligations to the partnership.

? why would they care?

their shareholdings in ADME are trivial compared to the amount
of money they take every month in pay and perks. just so long as
they can maintain control of the company & persuade the auditors
that it remains a going concern, they make loads of money month
after month - no meaningful connection tho’ to returns for s/holders!

sad lol, i should have waited a little
more before buying back that slice : (

got my trading slice back in, cheers ms, market.

oh well, he seems to accept that ADME’s CPR shows zero reserves at barracuda,
but now his argument is that CPRs don’t matter at all for small oil companies,

… some fellah over on ADVFN is trying hard to argue that
ADME has proven reserves at barracuda, but he still seems
completely unable to quote any part of ADME’s own RNS’d 2022
CPR from xodus which reports *any* reserves at all. funny that!

prospective investors in ADME should be very wary imv of misleading
claims which are simply not supported by the published RNS history.

(? maybe a “premium” placing imminent at 1p, but with sufficient
shedloads of warrants to sweeten the deal enough to get it away?)

attempted fundraising of some kind is imminent imo.

ho hum, just an injunction kicking the can further down the road.

still the company is burning money, and has not raised any new funds
despite cash being near zero now, and that long overdue CPR for
barracuda showed clearly that they have not actually discovered any
oil at all at barracuda - *zero reserves*, and they will need to persuade
somebody to stump up the money for speculative exploratory drill(s)
in a nigerian swamp with anrelatively poor chance of success. jmo.

the biggest issue here is that they have no cash left, the cashburn
remains very high, they have no assets that produce any cash at
all for the company, and they’ve cried wolf rather too many times
before when tapping pis up for some funding. not many people
left who would trust ADME as far as one could throw giant haystacks.

… & of course the nominal share price is 1p,
so getting a placing out below 1p is tricky…

agree top-slicing here v tempting. but now holding off a
further slice until 20s …which might be a while, sad lol : (

? maybe we’ll get one of those good news & bad news type RNS?

the good news, court says (maybe!) they still have barracuda, but
the bad news is, they still have barracuda, as it’s just a PoS, lol.

they will have next to zero cash left now, so they’ll have to try
something very rampy indeed to sucker some new money in.

frobert: “After a pretty poor run, things are turning around.”

… evidence? (zilch that i can see.)

added.

what makes you think frobertdude is “in the know”? …as so far,
he’s said nothing at all of any consequence about ADME, has he?