And I think the likelihood of a new poster who claims to of been around since the sp was at 4p (pre-consolidation) being genuine, especially voicing such recognisable negativity, is remote to say the least. Hiding behind new id's...sad. Tosca REINVESTED, they know more than we do. Companies like that do not throw their money away!
I would have expected significantly higher volumes of trades (Buys) if an offer was likely to come anytime soon; SLE have proven to be very leaky in the past. A takeover price of £1.20 would leave the faithful long timers unhappy and quite rightly so. Despite sitting on an average of over £4, part of me would be thankful that the misery is finally over and I can write this off as an expensive learning experience (perhaps Tosca are feeling like minded). Unfortunately I think that a final offer of anything higher than £1.50 -£2.00 in the current market conditions is very optimistic.
I think the Aggreko or "Agrekko" was related to the interested party in providing an energy source of the back of a well in Morrocco to a PO4 plant. Don't think it would want to take over SLE - whole different business. OF or the offeree is not obliged to tell the takeover panel unless a mandatory offer is made. Suppose the Irish Sunday Post gets the story from the same source as the biggest gas find in Poland for over 20 years - so big in fact, theres been no drive to get any further works done on the acreage since March (almost 6 months).
Who suggested the possible offer had come from Aggreko and why?.....As now it seems know one has a clue as to whether any genuine offer from anyone was made...Where did the Irish Sunday Post get the story from. If their was a genuine offer why can't OF tell us who it was..Or is that against the rules.
thanks for the heads up Speculat0r, but already worked that one out after seeing the latest posts. It's part of the game and I personally think that these subjects are mostly the ones which try to short a stock, but as mentioned ealier there will be a point where they will need to look elsewhere and think that we are there.
In a normal world when a share that recently raised cash the equivalent of just under 60p if seems bizarre that it can trade below 50. OK, this is the market and only those that sell below 60 understand why, unless they believe (perhaps understandably given the history of this particular company) that its good money after bad.
So it is no surprise that someone would show their hand an make an approach. So today its around cash value with little extra for any of the assets. So on that basis its currently cheap.
Given that the new money was raised at 80p and well supported by Tosca for one, they must have seen something that they thought was worth supporting. Whilst any shareholder of any time realises that little has materialised.
So this is a share that had a worth of around 80-90p before the new funds came in. So I don't see why any large shareholder would be interested in selling at anything below 150, unless of course the prospects for the assets that have changed so dramatically in the last couple of months.
We don't know how serious the approach is and I would hope (given that my long price is way above here) that any buy out would be at a high level. I don't see that happening to be honest as I feel this is a bit opportunistic.
If they never get anything to production and all the money is spent we will all wish a bidder at any level would be good and that's the risk and a few posters will be saying I told you so. If they produce... obviously different story and some posters will never be heard of again.
For now and until there is more disappointment the shares are cheap and over time and no positive news will decline, but I would not want to be short here or below for the foreseeable future.
Thanks for the refresher, but anybody who still agrees that your going to get production out of Rawicz in 6 months is not someone I would listen to for long. Let me ask Oliver Stanstead of these $230+$150M assets, and a projected cash flow of $10-15M, what value given operating and adminstrative expenses will be returned to the balance sheet. Not something that should be so hard to do for a City Banker - pity its therefore gone way over his head. Notes *** ** These figures are based on estimates, SLE internal economic modelling, no full evaluation has been concluded on the actual value of these assets or cash flows - the work program to realise actual values is still ongoing, 1 well being spud in disputed territory, no further drills announced on Barryroe, no further drills announced on Rawicz - Some Assets Eh?
For those who are relatively new here, there is a collection of obsessive derampers who do not hold shares in SLE, have no intention of holding shares and some of whom have admitted that their express intention is to revel in the destruction of SLE wherever possible. Now, please do not get drawn into frustrating and pointless troll feeding (however hard to resist as it may be - I myself have fed them quite a bit). Just filter. Let them starve. The BB has been relatively free of them for the last month or so. They have had their fun for the last 6 months shorting the arse off SLE. Now its time for them to burn. Marshmallows anyone? RIP CT and co.
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