wahlberg
26 Jan 2016
Re: Cheated Your complaining looking a bit silly today...
freddie007
22 Jan 2016
Re: Cheated You may resort to getting personal .I just look at the facts .
wahlberg
22 Jan 2016
Re: Cheated He specifically stated "days to weeks to months" for completion of deals. I assume the work on the JV has meant a little delay to the conventional assets.Quite pathetic that you follow the crook TW and have "written off" your investment. I mean come on!
freddie007
22 Jan 2016
Re: Cheated You're right , I don't . However I can now weigh up all the facts . Facts based on evidence and not what one person DW talks about ( verging on illegally ) in a podcast .1. 0ver hype podcast.2. From promised (almost deal done )assets to no news at all in 3 months .3.only news is an agreement to talk exclusively for a month with a possible asset .4. A promised new website . All we have is an old website which my 5 year old niece could put together in IT at school.5. A name change .....big deal !!I hope you're reading this DW because on behalf of other shareholders we are becoming restless a wee cynical . Prove us wrong !
wahlberg
21 Jan 2016
Re: Cheated Freddie, you clearly don't understand the significance of the Tubi Obi East study and the pending JV with the state on the Siak PSC ("The holy grail in oil and gas in Indonesia today"
.Remaining suspended while they continue working on each deal is the best situation to be in in this current market. Read the Paul Warwick article on Rigzone, listen to the podcast again. The company are pursuing assets with gas productivity which will advance the strategy of the company significantly.I have spoken to Dave Whitby and Dan Jorgensen over the phone and have full confidence.They have delivered exactly what they said they would to date and will continue to do so.
freddie007
19 Jan 2016
Cheated The lack of news fiow during suspension indicates we've all been duped !Tom W is right . Kiss goodbye to my £10k.Big lesson learnt .
wahlberg
24 Dec 2015
RNS- Exclusivity agreement 24 December 2015Andalas Energy and Power Plc("ADL" or the "Company"Exclusivity Agreement Signed with BUMD PT Riau Petroleum to negotiate a joint venture to seek to acquire an interest in the producing Siak PSC, Indonesia Andalas Energy and Power Plc is pleased to announce that it has entered into an exclusivity agreement ("Agreement" with BUMD PT Riau Petroleum ("PTRP", an Indonesian oil and gas company established by the Provincial Government and four local Regencies in the Riau Province of Indonesia. The Agreement grants ADL the exclusive right to negotiate a joint venture with PTRP to jointly acquire from PT Pertamina Hulu Energi Siak ("Pertamina Hulu", a participation interest in the Production Sharing Contract ("PSC" for the Siak block, which currently produces approximately 1,700 barrels of oil per day ("bopd" from the Central Sumatran Basin, Indonesia. Pertamina Hulu is a wholly owned subsidiary of the Indonesian national oil company, PT Pertamina. Highlights· Exclusive agreement signed to negotiate a joint venture with PTRP to jointly seek to acquire a participation interest in Siak from Pertamina Hulu - PTRP is entitled by law to acquire a participation interest of at least 10%· Over 50 million barrels recovered from the Siak licence area to date: currently producing 1,700 bopd from three oil fields; multiple development opportunities identified· Siak is located in a prolific hydrocarbon region adjacent to the PT Chevron Pacific Indonesia ("Chevron" operated Rokan PSC from which 11 billion barrels of oil have been recovered since 1952 and which produced 335,000 bopd in 2012 (accounting for 39% of Indonesia's total oil production) from fields including the super major Minas and Duri oil fields· Siak benefits from extensive installed infrastructure and shared field operations with the neighbouring Rokan PSC Andalas CEO, David Whitby, said "The signing of this Exclusivity Agreement is an important event in the Company's history. We are delighted to be partnering with the local governments with whom we have forged a strong working relationship. "This opportunity differs from the conventional farm in opportunities that we have been considering. However, we believe it to be a compelling opportunity which may deliver a material interest in what we believe is some of the best on-shore acreage in Indonesia today." Exclusivity Agreement SummaryThe Agreement provides that ADL shall have the exclusive right to negotiate the proposed joint venture ("Cooperation Agreement" with PTRP. It sets out the parties' preliminary understanding with respect to certain key terms to be included in the Cooperation Agreement including the terms of a proposed carry, cost recovery and net profit share. It also provides for the payment of back costs of US$370,000. The Agreement will terminate on execution of the Cooperation Agreement and ADL may terminate it on giving 30 days written notice to PTRP. Siak Summary The Siak PSC is located onshore in the Central Sumatran Basin, which is a highly prolific oil and gas producing province in Indonesia. The block is situated 170km northwest of Pekanbaru, the capital of Riau Province, and covers 2,480 square kilometres over three areas. It overlaps four local regencies in the Riau Province: Rokan Hulu, Rokan Hilir, Bengkallis and Kampar. To date Siak has produced more than 50 million barrels of oil from nine fields and currently produces around 1,700 barrels of oil per day from three oil fields: Lindai (100% within the block); Batang (unitised 65%/35% with Chevron's Rokan PSC); and Menggala South (unitised 35%/65% with Rokan PSC). Chevron operated the Siak PSC from 1993 to 2013 and unsuccessfully bid to renew the contract in 2013. As of 2013, the total capital expenditure on the Siak PSC is estimated to be US$302 million (in 2013 terms). In May 2013 the PSC was awarded to Pertamina Hulu. Pertamina Hulu is underta
wahlberg
16 Dec 2015
Rigzone alas Energy and Power plc (formerly CEB Resources) is positioning itself to be profitable in today’s lower oil price environment, according to the company’s newly appointed non-executive director, Paul Warwick. In an interview with Rigzone, Warwick, who retired as Talisman Energy Inc’s executive vice president and executive director for Europe, the Middle East and Africa in September, said: “In realistic low oil prices…we intend to have a positive margin…We’re going to do this so that there is always that positive margin there in today’s environment, not based upon a somewhat rosy view of future oil prices. If the price does go up, it’s even better. “There are merchant banks out there who say that the oil price could go to a sustainable $30 [per barrel]. You have to take cognizance of that. If you live in the world of probability and you say there’s somebody there saying it’s going to be $30, it’s going to be lower…so you have to be positioning yourself so that you’re not just saying ‘oh well we can only make this work at $35 but we think it will all be ok’. You have to give yourself the basis of the portfolio that makes you money and then you have to be able to be very disciplined with your capital expenditure.” Warwick was appointed to the Andalas board Dec. 8. Prior to this position he has held a number of senior level executive positions with ConocoPhillips in Indonesia, the Middle East, Europe and Africa. Previously an investment company in the mining sector, with a primary focus on Australia, CEB Resources plc has transformed into a new energy firm over the past few months. The company hired David Whitby as its CEO June 5, shifting its attention to oil and gas opportunities in Indonesia in the process. Andalas is now focusing specifically on onshore oil and gas projects in Sumatra and its newly-updated team has 250 years of collective experience in the oil and gas industry and has collectively worked in Indonesia – which holds oil and gas reserves of 3.7 billion barrels and 101.5 trillion cubic feet, respectively, according to BP plc's latest Statistical Review of World Energy – for over 70 years.
freddie007
09 Dec 2015
Re: Poor show I care!If the company announce that their new website will go "live tmw " and then ,It doesn't happen , it brings into question the validity of all announcements.I accept that In the overall scheme of things this may be petty however whilst in suspension an online presence is imho essential .
wahlberg
09 Dec 2015
Re: Poor show The website is not a priority so who cares? The latest information is on corsairpetroleum.com anywaySurely you should be praising the acquisition of the non-Exec to the Board instead!Fantastic story unfolding here.
freddie007
08 Dec 2015
Poor show that the ceo confirmed the new website would go live last Friday but as yet nothing .
