Andalas Energy And Power Share Discussion Threads

[domple] 29/10/2018 14:37

surprisingly quiet.....

[domple] 26/10/2018 09:27

we were at 1.25 a few weeks ago!!

[domple] 25/10/2018 16:43

and some of the brown stuff too!!

more tomorrow......

[domple] 25/10/2018 10:14

Lots of red sauce today!!!

[domple] 24/10/2018 16:27

I say Red on bacon, but in need of a G&T after another poor day on the markets....

[therealtonythetiger] 24/10/2018 16:22

Not those bloody sauces again.. My sauces say Brown is better than Red on a sausage sandwich, what say you Domps..

[domple] 24/10/2018 15:23

until we have some solid news, this will continue to drift down. Just the way it is...

[kenco7] 24/10/2018 15:10

Once news hits this will start to motor,old wood gone right people in the driving seat, sit back and watch. Hearing Interesting stuff from sources. DYOR

[domple] 24/10/2018 13:10

maybe not...

[domple] 24/10/2018 11:55

has the seller gone now??

[domple] 24/10/2018 11:28

lambs to the slaughter....

[domple] 24/10/2018 10:33

Timberrrrrrr

[domple] 23/10/2018 16:34

it looks as if this wont move unless and until we get some positive news on money-earning deals.

[domple] 19/10/2018 09:49

one thing for sure about Simon Gorringe and the bod is that they are very good at marketing the company and saying all the right things. They have a plan and it seems that they are not for messing about.

[cashandcard] 09/10/2018 15:47

Like many other smallcaps, they need to raise funds to secure the next leg of their growth. I am watching this and will dip in as its one of the cheapest ways of getting exposure to Colter.


Cash

[daar] 09/10/2018 15:45

Lol I hope not

[therealtonythetiger] 09/10/2018 13:00

daar.. yes 0.00p will be the bottom..

[daar] 09/10/2018 12:17

0.70-0.80p

[daar] 09/10/2018 12:17

Any guesses about the bottom?

[therealtonythetiger] 08/10/2018 19:22

Just seen this........Corporate Presentation – September 2018
hxxp://www.andalasenergy.co.uk/2018/10/08/corporate-presentation-september-2018/

[therealtonythetiger] 02/10/2018 08:12

Andalas Energy and Power Plc, the AIM listed oil and gas company (AIM: ADL), announces the award of a total of 36 million options over ordinary shares in the Company (“Options”) to its Executive Directors and key consultants.

The Options are all exercisable at 2 pence per share, representing a premium of 83.5% over the closing share price on 1 October 2018, and vest, over a two-year period as set out below:

Chairman of the remuneration committee, Dr Robert Arnott said: “Simon and the team have worked tirelessly over the past 11 months to secure funding and new opportunities that together position Andalas to deliver on multiple fronts over the next few months. The options have been struck at a significant premium to ensure that the Companies management team is only rewarded when it has delivered value to its shareholders.”

[cpap man] 02/10/2018 07:52

Following on from ADL in another format but WTE are joining in with UOG and the others at the COLTER party amongst various....



The Directors believe the NPIs - being a 0.5% NPI in licence P1918 (Colter Prospect), a 0.5% NPI in licence P2222 (Oulton Discovery) and a 1.0% NPI in licence P2235 (Wick Prospect) - offer low-cost exposure to near-term exploration and appraisal drilling targets, with independent prospect risks and potential for substantial value uplift, in the success case, without requiring further investment by the Company.

[therealtonythetiger] 01/10/2018 19:01

Andalas aiming for PSC stake............
AIM-listed Andalas Energy and Power is on a mission to boost its upstream assets in Indonesia under a novel business strategy that diversifies from the initially targeted gas-to-power opportunities, writes Amanda Battersby.

Andalas has entered into a conditional agreement to acquire a stake in the Bunga Mas production sharing contract onshore South Sumatra.

The deal is for an initial 25% participating interest in the onshore PSC with the right to increase this to 49% and then further to 100%.

Completion of the transaction is dependent on various matters, including the existing operator securing an extension to the exploration term at Bunga Mas.

The block is home to the Bunga Mawar discovery that has best prospective resources of 2.09 million barrels of oil in the Air Benakat formation.

Andalas intends first to test the Bunga Mawar field with the aim of converting prospective resources into contingent reserves that would form the basis for a Plan of Development.

The field was discovered in 2012 by the Bunga Mawar-1 wildcat that flowed sweet light crude of 45 degrees API from a sub-surface depth of 704 metres.

“Our initial work programme will target the Bunga Mawar field, following which we expect to submit, for approval, our Plan of Development to bring the field into production and will then look to appraise and develop the other oil and gas accumulations on the licence,” said Andalas chief executive Simon Gorringe.

Other prospects on the field include the Bakung, Sakura and Anggrek that have oil potential, and the gas prospect Melati.

The Bunga Mas block is located near existing upstream facilities, which could be useful for a future commercial exploitation of Bunga Mawar.

The hoped-for extension to the Bunga Mas PSC is currently being negotiated with Indonesia’s upstream regulator SKK Migas.

“The joint venture is actively pursuing this extension,” Gorringe said.

He would not elaborate on when the acquisition might be completed.

More than $111 million has been spent to date on the block, some of which might be available for cost recovery for Andalas if it were to go ahead with development of Bunga Mawar.

However, such cost recovery would only apply under an extension of the existing contract and not under a new contract based on the gross split model.

The three existing partners are all subsidiaries of Arctic Bay Ventures, and Andalas intends to acquire them in stages, initially via a share deal to take over Bunga Mas Energi that has a 25% participating interest in the PSC.

Andalas has the right to acquire the remaining subsidiaries — Bunga Mas International Company (51%) and Dorato Fiore Pacifico (24%) — for a nominal $1 each..

[therealtonythetiger] 28/9/2018 08:35

Rig contract signed with Ensco for a jack-up to drill the Colter well..

Andalas Energy and Power Plc, the AIM listed upstream oil and gas and energy company (AIM: ADL), is pleased to announce an update on its Colter prospect, in which it recently announced an agreement to earn an 8% interest.

The operator, Corallian Energy Limited (“Corallian221;), has signed a contract with UK based drilling contractor Ensco U.K. Ltd for the provision of the Ensco-72 jack-up drilling unit for its Colter well.

The timing for drilling the well is dependent upon the receipt of the necessary regulatory approvals and consents. Based upon the current estimates for receipt of these, Corallian is expecting to commence to drill the well during Q4 2018...