Hi sinbinYes i think we are on the verge of a turnaround.The...

Hi sinbin

Yes i think we are on the verge of a turnaround.
The Sterling bank redetermination was a very positive show of confidence in AVD.
Some profitable asset sales, a major acquisition and continued drilling success should finally see some sp appreciation.
Unfortunately buyers are thin in this market so it will probably be the acquisition that will get some momentum.
Untill then we wait for further good news.

Update on Brown-Vick well out today. Well completed and expected to produce 400 Mcfpd which would mean net revenue to AVD (30%) of approx US$430k p.a, not huge but with the prospect of up to another 8 wells being drilled that could be significant (US$3.4m p.a)
At 2500 ft the target is shallow and so relatively inexpensive to tap into.

Lets hope we see more good news as well as oil and gas flowing from Advance in the next month or so.

Lassatter