predictions are just assumptions or guesswork, Sid said SLE were doomed last year( got that one wrong!), they are not doomed. Reverse takeover, Sid was on about from the bidders of the approach or Tosca not this Nigerian deal Unless he had insider knowledge of the deal!!! which I don't believe he did he just got lucky and now crows he got it right.
As for you still holding, personally I really cant see it, I can see your here to disrupt like the other crusader on adfvn, he says exactly the same as you, that he sold wrote off his investment, but like you carries on with this crusade against anything SLE are doing and calls genuine holders rampers!. by account he lost heavily and I for one am glad as like you are out to continually put SLE in a bad light.
Sid honestly if you think real shareholders believe anything you say or care what you say your wrong, as honestly Sid for someone who keeps repeating he has lost nothing yet has this problem with SLE is just showing he is covering up something that is not right!!.
"There was no short squeeze as trading was suspended! "Painicked shorts" would have had no time to adjust positions."..........................................
Raskol, that is exactly what I am saying, That is exactly why I think SLE has been suspended, to stop share price manipulation and shorters wrecking the company due to the obvious doubt this deal has surrounding it.
Had the deal dragged on for months, like other SLE deals, then it would have been further heavily shorted and the price would go lower, that is not beyond the realms of possibility, therefore not nonsense.
SLE = shorters and stockbrokers paradise. Dandyman says shorters love it, and there is of course a reason for that.
No-one can do anything now. That's what Mr Fanning wanted I would guess. He has probably bought sleepless nights to those over subscribed to his company, but it is the safest thing to do for company survival.
So sorry to offer up an alternative to the continual spouting of "team rampitup", I know many don't like what I have to say and prefer to close their eyes and ears to anything that may be unnerving or frighten them. Others here seem intent on scaring off people with a different view. But wise investors look at all possibilities, they limit their risk and are not blinded by the promise of jam tomorrow or words from manipulators who seem to post for their own agenda.
Look at the company. How it has performed in the past, how its directors have done with other companies in the past. Success rate or not as may be the case. What has the press had to say about things. What deals have fallen through already. Of what has been promised what has been delivered? How much money has the company made and returned to shareholders since conception. How much have the directors rewarded themselves? The involvement of hedge funds with there ability to trade as experts in complex derivatives with a remit of making money for their funds and not ordinary joe. Is the company invested in politically stable and honest countries?
My advice would be to take NO notice of what is said here or on any BB, written by complete strangers, and to do your own research.
After about five hours you will be in a position to make your own mind up. You seem wise enough to have not gambled your crown jewels on this one. Many have lost life savings here. No not me, and no I am not bitter, SLE have taught me a lesson worth more than mere money, besides as posted earlier I have lost very little here and learn much.
Do your OWN due diligence and good luck with your investments.
"Consider this, as most educated investors know, If shorters panic, as dandyman suggests they would have done, then there is a short squeeze and the SP goes up not down. Dandyman seems not to understand this."
There was no short squeeze as trading was suspended! "Painicked shorts" would have had no time to adjust positions.
"I would say that had this company not been suspended we would have a share value a lot less than now. "
Well I would say that this is nonsense and I'm sure you know it!
Dandy says "By suspending the shares, they had ZERO opportunity to close their shorts. "
Whereas it may have been suspended to STOP shorters taking out more shorts as that would have certainly happened because,
1. The deal has NOT BEEN FINANCED fully yet. Bringing doubt. 2. Oil prices are crashing, they are lower now than when the proposed deal was announced. Bringing doubt. 3.We are talking Africa, Nigeria here, Dodgy. 4. Mart have tried offloading this twice before and it has fallen through. Why? 5. To mention just a few things shorters like about this deal. SLE, a shorters paradise. Stockbrokers must love it.
I would say that had this company not been suspended we would have a share value a lot less than now.
Consider this, as most educated investors know, If shorters panic, as dandyman suggests they would have done, then there is a short squeeze and the SP goes up not down. Dandyman seems not to understand this.
dandeman, thanks for the view, I bought into this some tie ago, only a small amount and saw they had been suspended but too involved in PMO also suspended. Will keep a closer eye on them for now, hope you are right!
The shorters have had a field day with this share over the last few years.
It's been easy money for them. As a new and junior exploration company it's easy to persuade the market to lose confidence when coupled with bad luck in the field.
The fact is though that ALL of SLE's main assets are now proven up, we have cash in the bank, we have strong backing from Tosca, we are about to go into gas production in Poland, we are hopefully about to go into oil production in a world class asset in Nigeria with prices hedged at $95, we have a balanced and diverse portfolio and are perfectly positioned to take advantage of weaknesses in the market.
What the shorters don't like is that the next three weeks could be transformational for the company, we could move from being a struggling junior to a healthy mid size company, with plenty of other opportunities in our back pocket. That doesn't sit well with the derampers.
What has really stuck in their throats is that Fanning has outsmarted them this time.
By suspending the shares, they had ZERO opportunity to close their shorts. Shorts that have been killing the SP for years. HSBC were clever enough to hedge their position so they have equal positions long and short. Doesnt look like these guys have bothered. They got lazy. Whenever good news has been released previously they've had time to close their shorts, allow the SP to level out again and then start their campaign with seeds of doubt all over again. It's been a very profitable tactic for them I have little doubt. This is why they're desperately trying to discredit the Nigerian deal. To limit their losses on open.
This time they've been found with their pants around their ankles. Probably a good bit of revenge from SLE. Shares were suspended as soon as the RNS was released. No time for anyone to react.
When they do open their arises are going to get slapped pink!!!
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