"it's going to take more than a £200 drone and a handful of paid extras" Dandeman100
There is considerable INTERNATIONAL disgust at what SLE are doing, this goes beyond your naive view of it being a handful of protesters. I would guess that The United Nations are a little more powerful and have a tad more money and legal resources to stop San Leon. San Leon can not afford to fight this in court, they can hardly afford to fight Avobone.
THE FACTS from the UN (not from some hopfull small time private investor suffering from confirmation bias.)
"The Irish oil company San Leon Energy is operating in Western Sahara in violation of international law, and the opinion of the legal departement of the UN. According to the UN, the Irish government and the rest of the international community, no oil research in Western Sahara can take place without consulting with the people of the territory."
Looks like all the money invested here will be used up in extremely high cost international legal fees. Will there be anything left to further the company afterwards? Will the company even exist after trying to take on the UN
Nope, I haven't a clue what you are talking about. I have as many shares now as when I did before you or I even knew any dates for drilling Rawicz.
You are either thinking of someone else or perhaps believing tales told by someone else. You know, the chap who used to try and discredit others valid opinions by saying they were not shareholders.
Or perhaps your memory fails you as I have mentioned I sold a considerable amount as the price fell from 33p to 25p then another batch between 15p an 7p. Of course that is the rough equivalent of £33 to £25 and £15 to £7. after consolidation.
Can you imagine that SloppyJoe SLE at £33 or even £7. what an imagination you would need.
I know of one institution which bought loads and loads at the equivalent of £4.75 then loads and loads and loads more at 80p..
Glad I am not them, what a loss to have to sit on, very embarrassing I would guess.. I have the choice to buy back in at 51p and get thousands upon thousands more shares than I had before I sold the ones I did sell. But I am very happy with the risk I hold with SLE and certainly wont be buying any more in the near future even at this supposed bargain undervalued price. Not until I see signs of value being returned to the private investor.
Anyway this is a distraction from the discussion and seems to be rather personal ( see subject header,) so until you can prove I am not a shareholder (which of course you can not, as I am), I would politely ask you to keep the discussion to SLE and not about me, my financial position or about Tosca or others being better or worse investors than me or anyone else as the fact of the SP speaks the truth.
Please just keep the discussion relevant. Distraction tactics were a great method used by that famous but long gone poster, whose name I shall not utter as we are so close to halloween and it may spook some people. LOL.
Tatar a bit, perhaps speak tomorrow, if I have time.
No Joe, I have not misunderstood you deliberately and I realise you, for one, do not make ridiculous claims as to the value of the company. I understand your viewpoint as to what the potential of the company looks like, however this is still, as has been for years only on paper, forward looking. What is planned will take time and a lot of money, after expenses and payments to John Buggenhagens company, our 35%? will possibly only cover overheads and wages.
There are also mammoth legal expenses coming up at a guess. Morocco is probably going to be tough work with a legal battles against the indigenous population, who will be internationally funded by those with far deeper pockets than SLE. And there is a big question mark about the outcome of the Avobone case which could cost £13 million + expensive legal costs, all eating up money that should be going to shareholders or helping get SLE into more production, for the shareholders benefit. Polish shale is, you have to admit, just about dead in the water leaving us with a lot of useless licences. The land grab gamble did not work in my opinion. Polish politicians are no longer interested in small time O&G operators, the geology is too expensive a nut to crack. The current movers and shakers in Polish politics are resurrecting the coal industry to solve short term energy needs and working on importing more gas into their LNG terminals.
Barryroe drags on and on, and in my opinion, with oil prices so low, is worth no-where near as much as stated in company presentations. Why do you think the deal has not been done? I guess its because its not worth what PVR are trying to hold out for. Besides, its out of the hands of SLE, just another hope.
My point is that the negativity surrounding this company goes far deeper than a handful of posters on a few bulletin boards and there must be a reason for this, I have mine, others will have theirs.
As BigBren reflected upon today, with a little research into the background and the history of the company and personnel, potential ordinary joe public investors who are unable to participate in the use of complex derivatives, will be able to draw their own conclusions as to whether they wish to risk their hard earned cash in SLE or not. It is entirely up to the individual.
I think you misunderstand my post, possibly deliberately.
I do not claim that this is a great company, or deny the problems of the past, as they are very real and have brought about the situation we now find ourselves in.
I actually think this us a rather poor company, albeit one which owns substantial assets.
I do not make a case for a re rating up to and beyond the NAV value in quick time - I can understand the discount no NAV, I merely point out that this is now heavily overdone at this price and the negative sentiment continues, without actually discussing the investment case.
This could well still be trading at a discount to NAV in two years time - I merely make a case for the view that I expect the gap to close following news which indicates that the company has finally delivered something.
We all know that quite a lot of the negative sentiment has been false. We all remember Kwidzyn.
Sid, I concur with your comments ,unfortunately it is too late for me .I was blinded by the hype and hysteria without doing proper research on the Company. As of now just have fingers crossed and hope to get something back out of the wreckage hopefully not in the too distant future.Still the management lives high off the hog here.
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