London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
09:56
"Paul Basinski let slip in 2016 that they know they have no prospect of commercial oil in North Alaska as the majors have already crawled all over it and bled it dry"
So COPL at new developments (Willow, Kupurak River), Santos (Pikka, Quokka), Bill Armstrong & Repsol (NSE 6 drill programme) and PANR are all wasting their time and their independent resource reports are worthless.
Not sure when Paul Basinski ever said that there was no chance of commercial oil and that the majors had sucked it all up, he was fixed on unconventional source rock oil and believed that was where the really BIG commercial volumes would be achieved but I do not remember him saying that precluded conventional oil.
Ed Duncan stated “The easy conventional oil on the North Slope has been found" and he believed shale oil presented the best opportunity for oil in 2011 but that was prior GBP shooting their 3D and initial drills, subsequently they changed their strategy.
https://freerepublic.com/focus/f-news/2684401/posts
Hi toffers , come on stop removing all the fun, let us gamble at these low prices, get in yourself. Might help after sdry🤪
Wasnt aberdeenman/mac part of those cosy dinners?
Lowish volume thus far.
Good to see 88e trying to support the last drilling RNS.
Hopefully we can see a rise back up to pre RNS prices soon.
On way back up… 🤞come on!!!
GLA FEK THE HATERS..
Moving on to 2024 and Dave not with use now , we have oil now look forward the next few mouth on would and up would .
They’ve found a blue pen lol 😜
Dave Wall organising an event at The Brewery in late summer 2016. Part of an email he sent to me, not marked private and confidential, so this is what he and this Board think of anyone investing here imo.
"Please don't send an open invite out as we may end up with a bunch of non shareholding free loaders! Discrete contact outside of public forums with people you know personally is of course fine and if they are holders then they are more than welcome.
There are no tickets to this event!
The brewery package does include security though so at my election people can be denied entry or ejected."
That said it all to me, and that is when I exited. For a managing director to state he would be happy to "eject" people from a meeting who are bona fide shareholders who might legitimately want to enquire what the hell was going on with the company and what Basinksi had said tells you that they don't want you asking pertinent questions. I didn't attend.
my views, but it is very much a nasty "lifestyle" company.
Not just Hickory 1: more news to come in near future other than Hickory- 1, 17.5 million cash- seems good:
Namibia PEL 93 (20% WI)
· Transfer of 20% working interest in Petroleum Exploration Licence 93 (PEL 93) complete, being the first stage of a three-stage farm-in agreement following approval by the Namibian Ministry of Mines and Energy.
· PEL 93 includes an extensive lead portfolio with ten significant independent structural closures identified from a range of geophysical and geochemical techniques and potential for more leads to be identified as dataset is expanded.
· Seismic acquisition is planned for mid-2024 with potential initial exploration well targeting the Damara play as early as H2 CY2025.
Project Leonis (100% WI)
· Maiden prospective resource estimate for Upper Schrader Bluff (USB) reservoir expected H1 2024.
· Farm-out process commenced with multiple parties engaged and reviewing data room materials, ahead of potential drilling of a new well in 2025/2026.
Project Longhorn (~64% WI)
· Two of the planned five workovers scheduled to be in completed in 1H 2024 are underway and are currently projected to be delivered under budget.
· Q1 2024 production steadily averaged 328 BOE per day gross (~62% oil).
· Company received cash flow distribution of A$0.7M in March 2024.
· The Company also reduced it's working interest in 9 leases during the quarter by an average of a ~7% reduction in net WI's across these leases. Consideration for these leases totalled A$0.3M.
Corporate
· Cash balance of A$17.5 million and no debt (as at 31 March 2024), ~20% of Hickory-1 flow test payments have been made, with the remainder expected to be paid in Q2 2024.
· Net cash outflows in relation to operating expenses for Q1 2024 totalling A$0.77M as compared to A$1.44M in Q4 2023.
· Cost reduction initiatives commenced in the quarter targeting a reduction in salary and overhead costs. Further business optimisation activities underway, aimed at preserving and enhancing value for shareholders and advancement of key projects
Toffers I, unlike you am an investor here, I don't need to have been anywhere or seen anything, sure this is a long bet like all exploration but I would be foolish to be out once the odds start to turn in my favour, good luck to you but I still don't know why you care if your don't hold shares :-)
******s… you said ya out, fek off then. binned
And there's no game on my part Sharebel as you put it, I was in this heap of junk and thankfully got out without too much damage, but look at it, 25.1bn shares, for an aim listed company, with an sp of 0.21p, it's a total farce, and you know it.
my views of course but it's not difficult to see.
If the pumpers raise this people, get out before they pile out and sink it again for you. imo.
Sharebel, why don't you answer my question about you posting false information about commercial oil which is a blatant lie? Answer it. Admit you made that falsehood up. People can see through you, you've been around long enough pumping and dumping.
Toffers time to sit this one out your game isnt working you’ve thrown every insult and bit of mud sling you can find all false and none sticking! So if you have not bought yet at these 12 month lows after a deluge of GOOD GAMECHANGER NEWS for 88E then you must be a greedy fool or still be short! Jog on Toff so long!
I see the Oz nightshift have taken a break to get a few winks in they’ll be back soon enough! Those naked shorts out in the cold without cover are going to have their meat and two veg served up frozen soon! IMHO DYOR
Were you at The Globe in 2016 Ayecuramba? of course you weren't, you're just another pumper and dumper.
Got out but still fighting the good fight to warn off others, what a good samaritan :-)
And there's Sharebel leading the pump and dump squad! Never ever changes.
Taxi man are zones. I apologize you must be correct. I was confused because they said they would drill Kulparuk but didn’t,. They also said they were going to flow test all zones but didn’t. Apparently they just drilled down to the Kulparuk to see if the drill bit would go that far. Otherwise why drill that deep?
Sharebel, you say "2nd commerical oil discovery", please point to me where it says it is a "commercial oil discovery" anywhere? It states "Commercialisation options to be advanced in parallel, including farm-out to a strategic development partner and/or early, capital-lite production, given proximate infrastructure advantages (Hickory-1 next to Dalton Highway and Trans-Alaskan Pipeline System (TAPS))." which is a totally different scenario.
Paul Basinski let slip in 2016 that they know they have no prospect of commercial oil in North Alaska as the majors have already crawled all over it and bled it dry. There's nothing there. A thimble full, or rather a glass test tube with some black treacle in is nothing, how do you know it's even real? this is the problem when everyone wants to believe the fairytale and doesn't start asking questions about the actual truth. How much money is it going to cost for them to produce nothing? How many more shares will there be flooded on to the open market? It's another aim failure that's producing fat cat salaries all for very little, or as someone else very succinctly put it, it's a lifestyle company, and that perfectly sums it up. 8 years and nothing and yet people still suck in newbie investors who won't understand the history.
My views, but people need to start asking proper questions of the company, what further expenditure do they envisage over the next 1-5 years (for producing nothing), how many more shares are they going to flood on to the market, diluting existing shareholders to the very bottom of nothing, why don't the directors give up their salaries in lieu of shares instead to show solidarity with shareholders? it's a never ending piece of string this one, just like all the others that have de-listed in the end!
My views of course, but I was in this shambolic share long ago and glad I got out when I did.
I agree with your excellent post Sharebel. The RNS update is excellent. Only a matter of time before the heard arrives given the give away SP! The SP should have got a kick today but its early yet(maybe US in the p.m.). I have added this morning @0.21 ....could not resist this bargain basement SP.
This offer will not be around for long. Here's hoping the market will give this update the credit it deserves. GLA LTH.
Another reason for tiny sells and buys is to find what the real share price is with your own dealer. I do it as the quotes i get are often BS. so i buy or sell a few pence worth to get a more accurate price.
However I do agree the market is manipulated and it should be stopped.
Shorting should be illegal. That way would see people investing in the market not betting against it. Investment would bring growth and that makes money for us all.
The ‘ market’ is clearly being manipulated the tiny trades being ‘sold’ to play with it have been consistent. All noted. Pennies worth of stock being consitently sold for under the bid price etc reveal whats really going on here!
We have had in last two weeks
1ST COMMERCIAL OIL DISCOVERY- SP quite rightly in normal market conditions reacting to 45
Then pulled back with profit takers from previous lows out then SP began to be manipulated hovering average around 33/34 mark eventually over nearly 2 weeks
2nd COMMERCIAL OIL DISCOVERY announced opens at 33 v 35 then within 45 mins dragged down to 24 v 25 then back and forth worked down over next day to 20 v 22
Following day robust positive INVESTOR PRESENTATION but MM worked am to 19.50 (12 month low) would you believe then was ‘hovered’ all day between 20 v 21
Today a robust and very posituve COMPANY UPDATE with commercial overview of where company is at again played with to sit 20 v 22 currently with constant tiny penny trade sells.
WHY?
REASON
Tiny constant trades of pennies being sold below the bid price to effect it and any normal sized buys not seemingly affecting the price as its constantly on a swithcaroo. We’ve had a deluge of 24/7 negative stupid posters boiler room crew with their 4 barrel nonsense, lies about the company and BOD on repeat. All of this is noted and a reminder for the perpetrators here trying to tell us to sell up (the fund needs to close their short now) all documented. This is market abuse by ii shorters. Heres an extract eg of market abuse ref tiny penny trades!
From FCA Market Abuse rules
‘3) entering small orders into an electronic trading system, at prices which are higher than the previous bid or lower than the previous offer, in order to move the price of the qualifying investment, other than for legitimate reasons;‘
So how much longer do they believe they can get away with this and the MM involved? It may well be that they’ve got wind of investment coming in here at a much higher level and THIS is the reason for their panic and 24/7 attack here.for eg Naked shorting is outlawed in UK but I believe not in Oz ! Short squeeze on the horizon! IMHO DYOR
I'm with you Uscita, it's social enough on here without having to meet people face to face with drink in their hand. I would like to attend an AGM at least once. I have various other companies but I live too far from mainstream.
There's a massive cyberattack underway apparently in the US affecting emergency services call centres, so keep running off your share holdings folks on paper.
Time spouting the same rubbish when the company has failed to produce anything and paid an extortionate amount of your money to directors who just sit on their backsides as wall did, and if you were at The Globe in early 2016, you'd know how rotund he was! They've produced nothing, never will imo, and they've 25.1bn shares in issue, and are probably about to issue a load more on to the market! Get a grip people, get a grip. If you're money isn't working for you, take it to somewhere where it will work. As the world stands at the moment, it's better to keep taking profit from where there is profit, and not parking it in to something long term which is highly likely to fail in this case.
my views.
No am I heck. I've never understood why people want a social aspect in relation to their supposed investments. It's a massive red flag.