Andalas Energy And Power Share Discussion Threads

[euclid5] 29/8/2018 20:55

A total of 52mmbls Recoverable oil from prospective resources

Guess that's worth nothing really

[sweet karolina] 29/8/2018 19:53

Zen,

I would be very interested to read your analysis of why Atlantic (the other listed company with a stake in Badger twice the size of ADL's) has not said anything to its shareholders about the results of the seismic reprocessing.


Your analysis of the market reaction to today's fantastic news would also be very interesting.


So off you go, I am sure there are other contributors to this board who would be very interested to see what you think about the company.

[zen12] 29/8/2018 19:20

SK - for many years now and you’re still on about good all ADL placing! You definately resent this stock.

[sweet karolina] 29/8/2018 18:20

Great market reaction. At least some have learned what a pre placing ramp looks like.

[therealtonythetiger] 29/8/2018 07:18

Andalas Energy and Power Plc, the AIM listed oil and gas company (AIM: ADL), is pleased to announce it has entered into a conditional agreement to acquire an interest in the Bunga Mas Production Sharing Contract (the “Bunga Mas PSC” or the “PSC”), located in South Sumatra, Indonesia.

Highlights:

Acquisition of initial 25% participating interest in Bunga Mas PSC via a corporate acquisition with right to increase interest to 49% and then 100%.

Consideration of 19,200,000 Andalas ordinary shares to be issued as follows:

9,600,000 shares on completion of the acquisition of the initial participating interest (“Completion”).

9,600,000 shares on regulatory approval of increase of interest to 49%.

The consideration shares, representing 6.5% of Andalas’ current issued share capital, to be issued at the prior 5-day volume weighted average at the date of issue.

Completion is subject to various matters including extension of the exploration period of the PSC.

Andalas to undertake new exploration and development of the PSC as an exclusive operation entitling it to 100% of the cash flows available to participating interest owners under the PSC.

The Bunga Mas PSC is located onshore, near existing upstream facilities, in the prolific producing South Sumatra basin, Indonesia:

Within the PSC, the Bunga Mawar field has been assessed by the operator to contain 2C contingent resources of 0.22 million barrels of oil (“MMBO”) and best prospective resources of 2.09 MMBO (gross) in the Air Benakat formation.

Initial work programme plans to test the Bunga Mawar field and to convert prospective resources to additional contingent resources which will form the basis for a plan of development.

Further details of work programme to be announced on completion.

The acquisition includes a pro-rata share of unaudited brought forward past costs that are recoverable by participating interest owners from future revenues in priority to various other distributions (“Cost Pool”).

Previous expenditures on the PSC total US$111,695,000 (gross) of which a proportion is expected to be Cost Pool attributable to the Bunga Mawar project and will, assuming recovery is permitted by the regulator significantly enhance the projects economics.

[jammytass] 29/8/2018 07:06

Very interesting RNS

[sweet karolina] 23/8/2018 11:42

Here is a link to help you find the market release by Atlantic (twice as big a stake in Badger than ADL)



It would seem that it is SG who is peddling the fake news:



"someone intimately acquainted with Atlantic has been contacted and he said that the results were "not considered to be conclusive” and that it was continuing with its own internal review. Atlantic will only make an announcement if it considers that it has information that is material."

[domple] 23/8/2018 10:11

no more fake news SKock

[sweet karolina] 23/8/2018 09:46

Go on then domple provide a link to Atlantic's announcement on the reprocessing. It is a listed company and under similar rules about disclosure as other listed companies.

Oh dear more bull from dunce boy domple. Maybe Tony can help you out, if he has managed to work out what impact a consolidation has on % holdings.

[domple] 23/8/2018 09:34

more bull from the SKunt

[sweet karolina] 23/8/2018 08:40

And where are those further updates from Atlantic? Why did Spirit (formerly Centrica) give their stake away?

Where is the $20m to drill and test an appraisal well going to come from?

[euclid5] 22/8/2018 19:54

LICENSE PORTFOLIO 31TH MARCH 2018 STATUS

BADGER (33.3%) - UK Licence P2112 – Appraisal and Development.
2017 saw Spirit Energy exit the licence leaving Atlantic Petroleum and Holywell Resources holding full equity and a licence extension of two years. Work progresses on PSDM reprocessing to better evaluate reserves in place and recoverability with the potential to drill an appraisal well early in 2019. Further updates will be provided as 2018 progresses.

[domple] 22/8/2018 11:28

blah, blah, blah....yawn yawn

[sweet karolina] 22/8/2018 10:44

Explains why Atlantic has not bothered to tell its shareholders the "great news" about Badger

"the results [of the reprocessing] were not considered to be conclusive”

With a farm in partner needing to put up about $20m to find out if enough gas is actually there to be commercial, with a 70% chance of a duster, and the other partner not convinced, I think OGA will be looking to either award the licence to someone who has the where-with-all to exploit it or just let it P2112 expire. At best it is just going to sit there for years praying for a farm in.

[therealtonythetiger] 21/8/2018 16:58

Domps the podcast is from yesterday..

[domple] 21/8/2018 14:45

sk = sucking

[sweet karolina] 21/8/2018 14:42

As Atlantic are listed no the Copenhagen Exchange, surely they should have released the results at the same time as ADL. Could it be Atlantic are not so overjoyed / do not see it as material news?

[domple] 21/8/2018 14:27

ps foxy, is this podcast from the beginning of June?

[domple] 21/8/2018 14:17

cant get it at the mo foxy. Can you post the highlights if you have time/inclination?

[therealtonythetiger] 21/8/2018 13:02

Thanks Foxy

[domple] 21/8/2018 12:05

You must have hollow legs SK....

[sweet karolina] 21/8/2018 11:42

Strange Atlantic have not bothered to update their website with the wonderful news from Badger:

[the foxthe fox] 21/8/2018 10:43

Podcast interview with Simon Gorringe hxxps://soundcloud.com/cassiopeia-services-plc/financialfox-simon-gorringe-ceo-of-andalas-energy-and-power