TOSCA thinks that the Barryroe NPI will one day be worth something, probably long after SLE no longer exists, the best part is that unlike the Polish usufructs which LSD posted cost 4mill a year to maintain, the NPI costs nothing to sit on, the risk being that PVR goes bust before the oil price recovers.
Last throw of the dice from Tosca I would think, they ploughed millions into AUL before they went bellies up and SLE bought them out, between these two companies Tosca has invested serious amounts of cash without one scuff hitting the market, if this last fundraising does not work I think Tosca and us can kiss goodbye to our cash.
Tosca's strategy hopefuly would be more of the same farm out then sell off rather than getting stuck with financing a company with zero income to date and precious little in the immediate future - so their is no real gain for them I guess taking the company private or buying it out themselves, It's assets need to be proved up before they and us can be sold off.
Lets hope there is a reasonable time frame for PI to get at least some of their money back as the price rises (hopefully) after the great consolidation before some other trauma hits us.
PI strategy could be to load up with SLE shares pre-consolidation at the lowest price minimizing loses during the Great consolidation (0.5p??) then "gamble" there will be "an all to play for" large jam sandwich post consolidation allowing PI to recover some loses.
Tosca could have taken sle private with loose change in there pocket and they are going to great lengths not for this to happen it would have been easier for them to just buy sle
Agree we need results to go our way at least drilling cost have come down on a positive note if all goes well tosca investment will be chicken feed to what their initial investment was eventually oil gas will go up and so will revenues Thankyou for your post just wish some more postersand new investers would start posting
Lot of talk on these sites about What Tosca intends doing. They will probably sit tight, a bit the same as they did the last time, but hoping that with the development of Rawicz and Sierkierki just around the corner, SLE will do something constructive with the placement funds. Might even get a bit of success with Duressi and / or Zag. . . No real gain taking the company private or buying it out. It's assets need to be proved up before they can be sold off. Far better to see if things work out over the next 12 months and the sp gets to £5 + ( 5p old money). That would give them a nice profit and a starter for what's to come if things start working out for us. £5 would give a MC of £300m. That's quite a reasonable target. Rawicz and the surrounding area could in itself justify that valuation if the whole field proves to be much bigger than originally thought. Throw in Barryroe, Sierkierki and what ever else they can prove up this year and £300m is a gross undervaluation.
Poland's largest refiner PKN Orlen is looking to acquire another oil deposit in North America this year, chief executive Jacek Krawiec was quoted as saying by daily Gazeta Prawna on Tuesday.
"So far we have invested around 1.2 billion zlotys ($325 million) in deposits in Canada," Krawiec said.
"But that's not the end. This year still we want to complete another acquisition in North America, capitalizing on attractive pricing of upstream assets."
Asked if PKN Orlen would carry on searching for shale gas in Poland, as other companies pull out because of difficult geological conditions and red tape, Krawiec said that the refiner would continue exploration.
"We still think that it's a matter of time for technologies allowing for regular industrial production (of shale gas in Poland) to arrive."
Certain posters quite clearly post here with a questionable agenda.Were one so confident of their investment,why bother,unless one has an entirely different agenda.With the SP always testing new lows,fact,how long before this company is delisted?july?
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