You might recover some of your losses but don't bank on it,don't forget Avobone in the new year,and Sle may take a big hit with this,hence the reason that there is very little activity with this one which volumes bear testimony to,the market isn't buying ,at least not just yet.
Frus - I can relate to everything contained in your recent post - in fact you sound as though you could be my SLE investor double - after consolidation I am left with 5000 shares! . . So why am I still here?
The current SLE price level must surely be a great entry point for any new investors given the prospects of near term production,current active exploration program and valuable medium/long term licences that the company currently holds.The judicial exploitation of these assets should enable the company to realise a considerable increase in it's valuation short term together with an appreciable increase in it's share price from the current low levels - realistically though I have to acknowledge that as a long term share holder (I came in with RLM at RLM prices) I will never recover my losses made on this investment however I remain positive that in the near term I will marginally reduce them.
Yesterday, San Leon Energy informed that the Rawicz-15 development well in Poland would be drilled in November 2015. The well is funded and operated by Palomar Natural Resources and is expected to take 35 days to reach a depth of around 1,600 meters, and would be followed by completion and a full well testing programme. Furthermore, the well would yield additional data on the Permian Rotliegendes sandstone reservoir in the southwestern end of the Rawicz prospect.
Our view: The aforementioned update is encouraging for San Leon as it plans to spud the Rawicz-15 well in November. The Rawicz well is estimated to have more than 50 Bcf (Billions of standard cubic feet) of 2P reserves and is expected to be the largest gas development in Poland for 20 years. Recently, the company has initiated asset optimization and cost reduction strategy resulting in relinquishing certain non-core Polish licences. San Leon’s move supports its long-term strategy to focus on development and production. The company is likely to save on the annual license fees on the relinquished Polish license while remaining committed to the remaining acreage in Poland including the Baltic Basin shale licence and the Rawicz field. Further, the company remains fully funded for development of projects as it raised £29m through issue of new shares. We believe the company is moving in the right direction and is comfortably placed to face the difficult trading conditions. Therefore, we maintain a Speculative Buy rating on the stock.
I have read this BB for the past 4 years and have swung between the rappers and derampers all that time remaining positive and still remaining hopeful that there may be something that will come from this but reading Frus's account of his expirence and reading that there must be others out there with the same story I feel that I can empathise with him having followed the same path with the same results and can understand how he may be feeling the way he does after all it is easy to get carried away with the moment. But we must listen to all sides even if we don't like to hear it that way new investors will have a more balanced view and try to reach a decision that they will be able to accept either way
You made a bad investment and are angry and bitter. Grow up a bit...
You're not the first person to make a bad entry into a share and you won't be the last. You say you've learned. But your still here. Every day. Moaning. If you've learned anything, then learn to move on.
There are others in your situation? Are there? Really? Or have they moved on?
This share represents a great opportunity for new investors and you know it. You need to move and find your own new opportunity, although I suspect the reason you hang on is that you know in a few months SLE will be in producing gas, revenue and profit, which is why you're still lingering like a bad smell...
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