Andalas Energy & Power (ADL) – Final Results

Andalas Energy and Power Plc, the AIM listed Indonesian focused energy company (AIM: ADL), is pleased to announce its results for the year ending 30 April 2017. The Annual Report and Accounts will be posted to shareholders and will be made available on the Company’s website: https://www.andalasenergy.co.uk. Highlights: Two agreements secured for the development of wellhead […]

Andalas Energy & Power (ADL) – Board and Management Changes

Andalas Energy and Power plc (AIM:ADL) is pleased to announce the following changes to its board and senior management.  The changes reflect the transition of the Company’s focus from business development to project execution. Mr Paul Warwick will retire from his role as Chairman of the board.  Mr David Whitby will assume the role of […]

Andalas Energy & Power (ADL) signs MOU for Development of Independent Power Producer at Puspa Field with PT Pertamina Power Indonesia and Siemens AG

Andalas Energy and Power plc (AIM:ADL) is pleased to announce that it has signed a memorandum of understanding with PT Pertamina Power Indonesia, a wholly-owned subsidiary of PT Pertamina (Persero), and Siemens AG regarding the development of an independent power producer at the Puspa field in Sumatra. Highlights: Andalas, PPI and Siemens agree to jointly […]

Speculative Buy rating for Andalas Energy & Power (ADL) – Beaufort Securities

Andalas Energy & Power (ADL.L) Speculative Buy at 0.06p Target Price: 0.20p Andalas is a wellhead gas power plant developer focused on the Indonesian island Sumatra. It’s working with Indonesia’s National Oil Company (Pertamina), and a division of state-owned construction company PT PP (Persero). Together they are developing gas power projects where grid infrastructure is […]

Andalas Energy & Power (ADL) – Sanderson Capital Partners shareholding now over 3%

Andalas Energy and Power Plc Holding(s) in Company For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii ANDALAS ENERGY AND POWR PLC 2 Reason […]

Andalas Energy & Power (ADL) – Result of Extraordinary General Meeting

Andalas Energy and Power Plc (AIM: ADL) is pleased to announce that all resolutions were passed at its extraordinary general meeting held today. The votes received were as follows: Resolution Votes received For Against Resolution 1 329,433,660 319,415,977 (97%) 10,017,683 (3%) Resolution 2 329,433,660 319,415,977 (97%) 10,017,683 (3%) Update on admission of new ordinary shares […]

Andalas Energy & Power (ADL) – Settlement of loan note, placing and notice of EGM

Andalas Energy and Power plc (AIM:ADL) is pleased to announce that it has conditionally raised £1,050,000 via a placing of 1,615,384,615 ordinary shares of nil par value at a price of 0.065 pence per share. The proceeds will be used to repay the outstanding Sandabel Capital LP loan note.  Andalas will also use the proceeds […]

Andalas Energy & Power (ADL) clarifies detail on first Wellhead IPP consortium agreement

Andalas Energy and Power plc (AIM:ADL) notes the media speculation regarding its announcement of 8 August 2017 that it had entered into a consortium agreement with PT PP Energi (‘PPE’), a subsidiary of PT PP (Persero) Tbk, the Indonesian state owned construction and engineering company, to develop the Jambi-1 30+MW independent gas-fired wellhead power facility […]