Advance Energy Share Discussion Threads

[purple11] 18/5/2021 14:43

we may see short term strength too......looks like its itching to move up.

whatever the action these are the days for buying.buy all these prices imo gla

[sea7] 18/5/2021 11:07

bought in here today - excellent share price catalysts in run up to drilling later this year. One of the best drill COS I have seen available lately.

scaling in, as may see short term weakness

[daar] 18/5/2021 10:23

Patiently waiting for 2p entry

[hazl] 16/5/2021 15:40

Yes I do believe a 'w' is forming on the chart.
A good sign in my book.

[hazl] 14/5/2021 15:11

Why thank you shafaq.
Nice to see you.
Yes you are doing very well there!
Well done on your record.

It's a bit like having some money in the Building Society here that you trust will give you an unusual windfall!

Here's hoping.

[shafaq] 14/5/2021 12:55

Welcome onboard Hazl.Just need patience here like my He1.Tenders are moving swiftly, don't be surprised rig signed and sealed next 10 days, that will get things moving.

[hazl] 14/5/2021 09:10

'Exciting news for Leslie Peterkin, Mark Rollins, Stephen West and the rest of the @advanceplc
team. The drilling of the Buffalo-10 well presents a huge value opportunity for ADV and its shareholders.

[hazl] 14/5/2021 08:47

Gradually building again.

[hazl] 13/5/2021 13:22

I'm hoping the chart turns up to form a 'w'.

[teamrilex] 13/5/2021 13:15

Three large buys to outweigh sells... why is the share price down?

[daar] 13/5/2021 09:52

Sub 2p coming

[therealtonythetiger] 11/5/2021 18:01

Carnarvon Petroleum Limited (“Carnarvon221;) (ASX:CVN) is pleased to provide shareholders with an update on the preparation for drilling the Buffalo-10 well.

• Buffalo-10 well is planned to be drilled in the fourth quarter of 2021

• US$20 million received from Advance Energy Plc for the drilling of the well

• Procurement of long lead equipment has commenced and is progressing well

• The tender process for a drilling rig is nearing completion

Petrofac, who are undertaking the drilling management services for this well, have identified the necessary long lead equipment to ensure the Buffalo-10 well is able to drilled prior to the end of this year.
Following completion of the farmout to Advance Energy Plc, as was announced 20 April 2021, Carnarvon received US$20 million to fund the drilling of the Buffalo-10 well. This means the drilling will be at no cost to Carnarvon unless the well costs more than US$20m.
The procurement of long lead equipment has commenced, with orders placed for the supply of conductor pipe, well head, liner hanger and associated services. This long lead equipment is planned to be available before the end of the third quarter of 2021.

A tender process for the drilling rig is nearing completion, with the requirement for a suitable jack-up rig to be available in the fourth quarter of this year.
Carnarvon has also commenced the process of securing the necessary Timor-Leste Government approvals for drilling the well.

Carnarvon Managing Director and CEO, Mr Adrian Cook, said:
“I’m pleased to be able to report that the Carnarvon and Petrofac teams are making clear progress in our preparations to drill the Buffalo-10 well this year.
A drilling result that meets pre-drill expectations will provide a material value catalyst for Carnarvon and its partner, particularly given the low capital and operating costs per barrel that are expected to arise from production operations.

The nature of the field, particularly in terms of it being in shallow water, also enables a development facility to be installed in a timeframe that has the potential to result in the generation of earnings and cash flows well
ahead of that arising from our larger Dorado development.

The consequence of these outcomes is important in terms of its value generation and strategic optionality for the Company.”

[therealtonythetiger] 11/5/2021 16:51

www.proactiveinvestors.co.uk/companies/news/949060/advance-energy-says-its-delighted-with-progress-towards-new-buffalo-well-949060.html

Advance Energy PLC
Advance Energy says its delighted with progress towards new Buffalo well
"We are delighted to hear progress from Carnarvon to ensure drilling of the Buffalo-10 well is on track for later this year,” said Leslie Peterkin

Advance Energy PLC - Advance Energy says its delighted with progress towards new Buffalo well
Advance Energy PLC (LON:ADV) said the Buffalo-10 well is currently planned to be drilled in the fourth quarter of 2021.

The company in April completed its acquisition of a 50% interest in Carnarvon Petroleum Timor, which owns the Buffalo, offshore Timor-Leste, which is presently estimated to host some 34.3mln barrels of contingent oil resources and previously produced around 21mln barrels of crude over five years.

A fresh field appraisal is now planned with the company’s US$20mln investment in Carnarvon providing funds to support the drilling of Buffalo-10.

In today’s statement the company noted that procurement of long lead items is underway and progressing well, and, a tendering process for the drill rig is now nearing completion.

READ: Growth strategy is set to make experience pay
Petrofac is providing drill management services for the programme.

Meanwhile, Carnarvon’s management is advancing the process to secure the necessary government approvals.

"We are delighted to hear progress from Carnarvon to ensure drilling of the Buffalo-10 well is on track for later this year,” said Leslie Peterkin, Advance Energy chief executive.

“The drilling of this well is transformational to Advance Energy, representing a material value catalyst for the company and our shareholders.”

“In the success case, there is potential to deliver a gross production rate of around 40,000 barrels per day by the end of 2023, which in this current pricing environment would deliver exceptionally strong cash flow and compelling rates of return.”

Peterkin added: “We are very excited for what the next six months may bring and will continue to provide updates to the market as we approach the various milestones of drilling activity on the Buffalo-10 well."

[therealtonythetiger] 11/5/2021 10:14

Yep patience required

[hazl] 11/5/2021 08:52

I wonder if people think they can get in later,because of the drilling date, when things don't always work like that.
I know I've missed the boat before.


It is rare to get the opportunity of a possible 8 pence a share for 2.5 pence.

IMO

[hazl] 11/5/2021 08:25

Is it true they want to close another two deals this year?

[someuwin] 11/5/2021 08:16

Tennyson Securities (Shard Capital) note from last month. ADV valuation 8p. (Unrisked > 12p)...

[hazl] 11/5/2021 08:09

I think the word 'transformational' sums it up for ADV.

[hazl] 11/5/2021 08:04

Ha 'choice' share price.
You don't see that very often!

[hazl] 11/5/2021 07:53

A tender process for the drilling rig is nearing completion, with the requirement for a suitable jack-up rig to be available in the fourth quarter of this year .

Carnarvon has also commenced the process of securing the necessary Timor-Leste Government approvals for drilling the Buffalo-10 well.

Advance Energy's CEO Leslie Peterkin commented:

"We are delighted to hear this progress from Carnarvon to ensure drilling of the Buffalo-10 well is on track for later this year.

The drilling of this well is transformational to Advance Energy, representing a material value catalyst for the Company and our shareholders. In the success case, there is potential to deliver a gross production rate of around 40,000 barrels per day by the end of 2023, which in this current pricing environment would deliver exceptionally strong cash flow and compelling rates of return.

We are very excited for what the next six months may bring and will continue to provide updates to the market as we approach the various milestones of drilling activity on the Buffalo-10 well."

Enquiries: