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 reports inconsistent flows at Betun Selo workover

By Josh White

Date: Tuesday 05 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Upstream oil and gas company Andalas Energy and Power updated the market on its operations on the Betun Selo KSO on Tuesday, in which it has a production interest further to the agreement announced on 21 June and was currently undertaking a four-well workover programme on the project.
The AIM-traded firm said the workover of the BTN 03 well was completed at the end of October, with the well now having been put into production.

It said initial flow rates remained inconsistent, and as a result the firm was set to provide an update once these were at stabilised rates.

The other three wells were producing at an average gross production rate for October of 37.5 barrels of oil per day at BTN01, 37.4 barrels of oil per day at BTN04, and 24.7 barrels of oil per day at BTN14.

Andalas said the field delivered at an average gross production rate for October of 99.3 barrels of oil per day, with a maximum from the three wells of 119.3 barrels of oil per day.

The board said the company's focus for the coming month would be improving field uptime, by undertaking a field equipment maintenance programme.

A further announcement would be made once the company has achieved stable production from BTN03 and the other three wells.

"We are pleased with the progress at Betun Selo especially now that we have the production contribution from BTN03 supporting production from the other three wells," said chief executive officer Simon Gorringe.

"We look forward to seeing results from the maintenance initiative to improve uptime so that we exceed our target production rate of 150 bopd gross."

As at 1405 GMT, shares in Andalas Energy and Power were down 11.47% at 0.15p.

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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

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