Advance Energy NPV (ADV)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.090p
   
  • Change Today:
      0.003p
  • 52 Week High: 5.30
  • 52 Week Low: 0.085
  • Currency: UK Pounds
  • Shares Issued: 1,527.61m
  • Volume: 5,084,374
  • Market Cap: 1.37m
  • RiskGrade: 178

Andalas Energy pleased with progress at P1918

By Josh White

Date: Tuesday 13 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Andalas Energy and Power reported on Tuesday that Corallian Energy, the exploration operator for licence P1918, has informed the joint venture partners that the Department for Business, Energy and Industrial Strategy, Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) has advised the Oil and Gas Authority of its in-principle agreement to the issue of the relevant consent for the Colter well, in which Andalas has an 8% interest.
The AIM-traded firm said there were several regulatory approvals and notifications still required before the consenting process was completed for the work programme.

When all the necessary approvals had been obtained, Corallian reportedly expected to commence a two-well work programme, with the drilling of the Wick well, in which Andalas does not have an interest, expected to begin during December.

Following completion of the Wick well, the rig would be mobilised from the Moray Firth to the English Channel to drill the Colter well.

"We are pleased with the continued progress of the operator towards the commencement of the proposed well, which follows today's announcement and the recent announcement of the contracting of the Ensco-72 rig to execute the Wick and Colter drilling programme," said Andalas chief executive officer Simon Gorringe.

"The drilling of the Colter well will expose Andalas shareholders to an exciting period of drilling activity, whilst we continue to work with our partners to complete the acquisition of Bunga Mas and to provide updates on the Badger licence.

"I look forward to keeping the market informed as we continue to progress our portfolio."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ADV Market Data

Currency UK Pounds
Share Price 0.090p
Change Today 0.003p
% Change -2.70 %
52 Week High 5.30
52 Week Low 0.085
Volume 5,084,374
Shares Issued 1,527.61m
Market Cap 1.37m
RiskGrade 178

ADV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
11.21% above the market average11.21% above the market average11.21% above the market average11.21% above the market average11.21% above the market average
37.35% above the sector average37.35% above the sector average37.35% above the sector average37.35% above the sector average37.35% above the sector average
Price Trend
51.79% below the market average51.79% below the market average51.79% below the market average51.79% below the market average51.79% below the market average
88.51% below the sector average88.51% below the sector average88.51% below the sector average88.51% below the sector average88.51% below the sector average
Income Not Available
Growth Not Available

ADV Dividends

No dividends found

Trades for 12-Aug-2022

Time Volume / Share Price
16:35 10,000 @ 0.085p
13:16 20,299 @ 0.090p
12:59 11,111 @ 0.090p
12:26 63,765 @ 0.086p
11:54 9,044 @ 0.090p

Top of Page