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Tue 19:43Price: 0.98
FinnFCR151 posts
2/3% rise each day

Happy with this leading up to Bunga/colter news
No Opinion
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Tue 19:02Price: 0.98
Timetomultibag326 posts
Nice

Stable day here , big news x2 close we know how it works .
Breakout at some point later in week I suspect.
Strong Buy
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Tue 10:31Price: 0.98
knicol4617,940 posts
interim report expected

this month - released 31 Jan last year
No Opinion
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Tue 10:25Price: 0.98
share_talk4,723 posts
Day 22

Day 22 #WickDrill (Spud 25th Dec2018)

#Ensco72 Jack-Up Rig video in top left box #UPL #RBD #UOG #ADL #BOIL

FS Carrick - supply vessel returning to Peterhead - transferring core samples? These vessels ?? have made multiple visits over the past 3 weeks.

https://twitter.com/Share_Talk/status/1085117773150334978
No Opinion
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Tue 09:49Price: 0.98
Boom12310,016 posts
RE: 49%

The Indonesian Deputy Minister of Energy and Mineral Resources announced on Friday that the Bunga Mas PSC is to be one of the 6 licences to be converted to gross split PSC’s in mid-February 2019.

Andalas Energy (ADL)
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has a conditional agreement to acquire 25% (rising to 49% and then 100%) interest in Bunga Mas PSC.

The field, located near South Sumatra, Indonesia, has a low risk and cost production potential of 600,000 to 700,000 barrels of oil, with a large potential upside for millions of barrels of oil in the Eastern and Western areas of the license.

A gross split of the PSC will divide the asset between the contractor and government, and likely alter the economic profile of a successful development of Bunga Mawar.
Despite this, Andalas told shareholders that it still exposes them to a “significant upside” both under original PSC and a gross split PSC.

The company said that it offers operational advantages, as the gross split PSC regime was created to “make oil and gas licences efficient, uncomplicated, simple and with more secure processes” according to the Indonesian Deputy Minister.

Andalas is to advise on terms of extension when approval is granted, particularly the terms of the extension of exploration period and transitional provisions.

Simon Gorringe, CEO of Andalas Energy and Power PLC said, “This change in licence terms is in line with the Indonesian government’s intention to have all oil and gas licences structured on a Gross Split basis and although we still do not know the exact terms of the new licence the company has the ability to renegotiate its economic interest with the operator to ensure the project meets our investment criteria.”

“We have established a good relationship with the Bunga Mas Operator who wants to close the deal as soon as possible and is willing to work with ADL to ensure that a satisfactory deal can be agreed. I look forward to updating the market as we progress with what continues to be an exciting deal.”
No Opinion
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Tue 09:45Price: 0.98
Boom12310,016 posts
RE: 49%

I think we will as the companies involved not in good position.
The unaudited management accounts of the acquired group of companies for the period from 1 January 2018 to 30 June 2018 showed a pre-tax loss of $30,811 and net liabilities as at 30 June 2018 were $13,888..
No Opinion
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Tue 09:16Price: 0.98
Jace861,135 posts
RE: 49%

Initially seems that it's going for 49 percent but the rest of it comes only for a dollar... we may get the lot?
Strong Buy
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Tue 09:07Price: 0.98
Boom12310,016 posts
RE: 49%

Looks like 49% a done deal then ????
Andalas is paying consideration for the acquisition of Bunga Mas of 19.2 million shares (£177,600 at the closing share price on 11 January 2019),

Huge in it's own right .
Drilling season Feb to April I think .
Strong Buy
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Mon 23:37Price: 0.95
Timetomultibag326 posts
Drilling asap .

With gross split, there is a certainty that you yourself count the split,” If you are in EARLY production, we are going to give better incentives, and phasing out over the cumulative production.” Explorers will get greater incentives if crude price is low and it will be reduced when prices move higher, If you are in early production, we are going to give better incentives, and phasing out over the cumulative production.” Explorers will get greater incentives if crude price is low and it will be reduced when prices move highe
Strong Buy
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Mon 22:12Price: 0.95
Timetomultibag326 posts
RE: CEO doing his job, we are lucky

49% in the bag .
Remainder for nominal fee $1 .
Even 25% is significant
Strong Buy
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