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

Advance Energy signs rig contract for Buffalo-10 well

By Iain Gilbert

Date: Thursday 02 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Upstream oil and gas company Advance Energy has signed a rig contract for its Buffalo-10 well in the Timor Sea.
Advance Energy said on Thursday that it has inked a formal rig contract with Valaris for its VALARIS JU-107 jack-up drilling rig, currently working on the Montara field 300km southwest of the Buffalo field.

The AIM-listed group said the well's operator Carnarvon was expecting to take possession of the drilling rig upon the completion of current drilling operations, planned to occur between mid-October and mid-November.

Chief executive Leslie Peterkin said: "We are pleased to see this contract finalised as it brings us one step closer to the drilling of the Buffalo-10 well which is on track to commence in 8-10 weeks. The Joint Venture has contracted a first-class rig that is arriving hot from its current activities which ought to support the safe and efficient drilling of our well.

"The Buffalo-10 well has the potential to be truly transformative for Advance Energy and its shareholders given the materiality of the resources associated with the Buffalo field. We are growing increasingly excited about securing a clear understanding of the field's long-term potential after an extended period of technical evaluation to get us to this point."

As of 0955 BST, Advance Energy shares were up 2.23% at 3.20p.

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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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