Thing is do you want to live in a dream world of make believe driven by false hope and lies.What's wrong with someone telling you the truth.....It may not be so good on the ear's but it is the truth, if it wasn't then we wouldn't be in this position would we.
That's exactly what the resident ramper's have been telling us since the fall of 40p. Your only seeing a continuation of what's been going on for years......Check some of the RNS - the promises - the certainties the imminent success. Check also some of the poster's with their never ending constant bulling up of every broken promise and every failure.The way they attack and try to discredit ordinary people. A well known tactic in life intended to disguise and throw people off the scent of their own actions.
0.64p in old money. This is worrying and management don't seem to have any thing to say. No update about Raciwz. Only RNS is someone leaving. I bought in at 5p and my shares are now worth very little. If I had the baxxs I would buy another 60k at this price. If the Sp went to 1.2£ I have my money back. But..........
What we know - At the end of Year 2014 - they stated they had around £1M in Cash (&Cash Equiv) - this would have been syphoned up long before Interim Period - and will be drawing down debt - So they raised £27M - To put that in perspective - that is probably the cost of drilling two conventional wells - from design stage --> completion (all in) - if well managed. Of that £27M half of that is at risk, pending the outcome of a legal settlement with Avobone (£13M+costs). With the rest they intend to drill a 1 well wonder in Morrocco which is in disputed territory - which even if you mitigated the political risk - it will not beckon any production without further development costs. Then they have a bit of a float to cover any further development costs with Poland - which has not really progressed and stuck in the rut with the Palomar - Oisin said - 'It was the well they were waiting for" - I say "It is the well your definitiely going to be waiting for!" - they ran a joke that they would be producing in early 2016 - and its almost August and they have not even designated the next well, so best case end of December (they do like drilling in mid winter - maybe its because thats the only slots available for rigs) for results - they have proposed another 2/3 wells but suppose they might short cut this and go straight to production - but without the additional wells they have uncertainty in the field, and makes any proposal to develop a gas station and pipeline less secure - all a bit too happy go lucky for me. All in all, more money and more cash required - nothing really happening but consumption of funds. Theres the high cost projects of extraction of shale gas and off-shore waxy (T+46C) crude, and given that POO~$40 - don't think theres going to be any donors showing up any time soon.
If Avobone suceeds against SLE - its curtains. That's why M.Hughes needs to find someone poised to takeover SLE's assets when its disposed.
As mentioned was invested in here last year and still on my radar. Can anyone give me an indication of financial status (ie have they just raised money?) and explain the business plan for Poland and Morocco? Basically what's in store for the future.Thanks
If your not a prop.....Listen to the answer to your question "Why are all my post's negative?......The answer is very simple, it's because my subject (SLE) is a totally negative company for it's s h and has been since it's inception..There is nothing positive that can be said unless you want to join the ramping brigade which means you would have to come out with b s and lies and I'm not prepared to do that....No positive watching £30k dwindle to £900 while listening to the same old b s from the company and from the pro ramper's on here and other bb's....IF your genuine you must have taken a look at what's been going on for the last 4 year's..Dont think I'm the only one, most who have been here even the latest investors are losing their shirt's....IMO this is what some call a life stile company....No reason to take out what's left BUT don't have to watch the same scenes unfolding without comment. Finally this last charade regarding placing and consolidation was the worst action yet against s h which virtually wiped everyone out.....So for me now anyone singing out praises for people who have been instrumental in me and many others losing a huge % of their investment have to be looked at as not normal...Seeing as how they are supposed to be in the same boat but at the same time some refuse even to say what % they are losing...Tell you what Hesketh when did you get invested. tell me some positive's I may have missed them, I look forward to it.
They mean both - as long as SLE keeps paying them, they can make up any number you want. Dont know where an encouraging RNS is going to come from, unless there going to drill - and as far as am aware theres no drills happening yet - perhaps a start date. One positive - it didn't slip further today. LMI 55 (-25) vs. SLE 68 (-12) .... Noted oil dropped further, lots of things to be worried about - and its not just SLE. Could be seeing some difficult weeks and months ahead in the markets generally, they use to say when America sneezes everybody catches a cold - I think you could swap it for China these days, without China there is going to be no growth in the world economy - and thats bad news for any commodity driven stock.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.