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They really are quite novel to watch.
Take 15.38pm for example SP drops after
10620 shares sold @ 17.34p in 3 tranches
138871 shares bought @ 17.44p ish in 4 tranches
Just garbage lol
Why would AMER accept a lower offer when they know ehat CPO5 might deliver?
I think with all those recent tender docs it is clear to me that ONGC know exactly what CPO-5 is going to deliver and they are putting the infrastructure in first before they ramp up any drilling campaign.
Frustrating for AMER but to be honest it is probably the correct strategy for the Indian State run company.
Any contracts or land purchases can be negotiated at a much lower cost rather than paying a premium price mid production.
Yet another tender doc, this time for Social Consultation representation! to add to the last one for sprinkling services.
Do they actually do anything operationally themselves? I suspect they simply employ a site manager to slow thing down and contract everything else out.
I find it hard to understand why we most of the periods when the weather is favourable with the drill bit at a standstill - the bit should be drilling at every opportunity, it costs peanuts on the scale of things and the lost time is impossible to recover.
They are a bunch of ……….
Regarding interested parties - how about Ecopetrol taking on the Put blocks?
They have the money for a cash purchase and don't need to consult shareholders - add to that their recent $3bn partnership with Occidental to go fracking in the US. They would make an ideal partner as they could open all the doors for Occidental as regards fracking in Colombia - it would create a huge entity that would dwarf everyone else.
The recent discussion on broker problem and investments being frozen, serves as an excellent warning to us ALL, myself included - companies can and regularly do hit the skids and sometimes without warning and we must be alert to the potential as Brexit approaches. I guess nearly all of you have made appropriate provision, but still pertinent IMO.
Whatever your views on Brexit, if we go without a deal or even with a deal some poor sods are ABSOLUTELY CERTAIN to lose their investment, we cannot be certain which firms will be hurt, but hurt they will be no matter how BJ or other down play the impact, even if things get back to normal in a short time it will be too late for some. What has been obvious is that many companies will not admit to having a problem, if they do their problem increase exponentially as they will then be shunned or punished mercilessly by financiers and investors, so we really don't know which enterprises are at risk.
Hence not being political, our own money is far more important, I urge everyone to consider where they are invested and the potential impact on their investments. Most important of all for me at the moment is that the companies I invest in are not financially stressed or in need of refinancing - resilience(cash) to stand a shock will be essential if capital market dry up. Fortunately IMO Amerisur is very well placed, even presumably holds its cash in $ (if they don't then they are muppets). I see my investment here perversely as an actual safe haven from the UK with $ exposure, cash and a market on the other side of the world, the bid situation is the icing on the cake. I hope it drags on for 3 months with bid and counter bid in US$, lol
For anyone that thinks we are all in this together, think again, many leading figures in the Brexit game have risk proofed their investments, most notably allegedly JR Mogg whose profits from the original vote where analysed in a TV programme - for all the claims of passionate love of the UK many are betting on a crushed UK economy.
Whatever you view even if you THINK (you cannot know what will happen no one does) maybe everything will be fine - but look after yourself guys, I wouldn't like to miss out here through pressure elsewhere as this sale process may go on for months and be right are the point where the market pressure is highest, I hope we can all benefit.
Yikes! Thanks for flagging.
With the sale of Sepura, in accordance with a set out timetable, the money just popped up in my account once the process (including merger approval) had completed.
The situation is a bit more complex and it is worth looking at the Beaufort scandal: investigations there (by PW) were undertaken at shareholders' expense (some statutory instrument passed enabling this). For the smaller investors, no loss was suffered. as the amounts were clawed back via the compensation scheme (as I understand).
I was appalled: it was an abuse of the nominee scheme, which should be no different from any other deposit holding entity such as a solicitor's client account. Without looking up the details, I think it was only because of the fraud and not just the administration/liquidation. The problem is, however, in my experience, entities going under are the most likely to commit fraud, the last ditch attempt to survive.
It is a pain, but more than one broker is the answer, the same as multiple bank accounts for large cash holdings.
Apologies, but fairly new to this situation of potential sale. Can anyone explain how this will work when the sale is agreed and completed. Will my broker (Degiro) handle the transfer/sale of the shares automatically, or will I need to take action myself?
Am used to the normal buy and sell process but not a forced sale..appreciate any advice, as frankly the Degiro "help" function is not too helpful with this situation.
Thanks, leas.
I’ve got less than £85k in cash but securities (in nominee accounts) with a total value of well over £1m and many individually well over £85k. I *think* I’m ok. I’m sure many other here are in a similar position.
Not sure I follow your capital gains point but will follow the link you suggest: thanks again. I do hope your broker situation gets sorted ASAP.
Apologies to all as I know this is well off-topic but it is highly relevant to many of us.
A few more today, happy to sit this out and wait for the eventual outcome,
GLA LTH hopefully we will hear something before the end of summer
cautionYB, I can assure you that your shares have been 'ring fenced' in the nominee account. If they have been sold then the company would be acting fraudulently which is a criminal matter. As long as your investment does not exceed 85k then you will be fine if the broker goes into administration. What I would advise anyone to do is make sure that any capital gain on your shares (paper profit) do not exceed the 85k and if there is a likelihood of that happening then offload some and buy them back through another broker.
In my case, I know they have not been sold as I have 3 accounts and have received 3 letters from the Administrators acknowledging my holdings.
There is a discussion forum on moneysaving expert/svs securities which is quite useful should you have any concerns. Irony being, when I decided which broker to use, that website was the main reason for choosing that company.
I was the Interactive Investor guy, Jux. For now, it looks like Alliance Trust is maintaining independence from the Interactive operation though of course that makes no odds in the event of failure.
Could someone please reassure me that, in the event of broker failure, any shares held via nominee accounts (i.e. all off them) cannot be sequestered as part of a process of administration/receivership/bankruptcy? So the only loss portion is the cash above the FCA threshold, or so I believe. Clearly leas’ point about not being able to trade what you hold is also quite right, of course.
Thanks.
Stuckey shares are only part of my investments, properties being the greater proportion so pretty cool. In relation to AMER it may work to my advantage but if not then the minimum I walk away with is my original investment which is covered by the FCA.
My risk has been spread despite the frustration of not being able to sell any of my holding here. That said, I would not be looking to sell at this level even if I did have the option. The administrators have already confirmed my holdings and confirm that the shares will not form any part of loss recovery for the bond holders.
It is good to hear from posters here about online brokers.
I currently use three brokers, which is not cost effective if you infrequently trade.
HL for my SIPP which I am trying hard to take cash at 20% as quickly as possible and then dump into an ISA or ...... spend it before I f****** go senile! Cannot stand the thought of going into a home and they take all my paultry wealth. Have thought of holding up a post office with a banana under my blanket in a wheelchair just to have the comforts of prison.
I have isa’s In my and wife’s name with II and A J Bell. I agree with Jux about II messing about with fees. They are inducing more frequent trades to recoup these fees. Not aware of their vulnerability.
The problem with ISA’s is that idle cash cannot be put in and out at will.
The problem encountered by leas is extremely frustrating. There should be a speedy system for insured elements. Have the same problem with utility companies going tits up. I am still waiting after nearly a year for a refund from disreputable broking firms.
The western financial foundations are somewhat cracking .
Leas, I am afraid I am a bringer of not good news. I was a client of a stockbrokers in Bournemouth that went into administration. It took an age to sort out
Sorry
No worries Jux, covered up to 85k and shares held in my name and the current Mrs lea's name. Ideal scenario would be for the shares to be transferred to another broker. 30years of dealing via post and paper prior to last year and in my name (not nominee account) so perhaps that is something to consider when trading online too.
Im hoping that I can resume control of the shares post Ind -2 and more details of any offer(s) are disclosed.
hey hey.
let's hope there a figure before all those "0"s.
Maybe it was too big to go through the letterbox. They should check behind the recycling bin, or with a neighbour.
the parties remember to pay the correct postage on their offer letters?
It is not just about the due diligence.
Anyone making an offer will also have to sort out the finance to back any such offer.
Commiserations , Leas and thanks for sharing. More and more of these two bit organizations are going to close/be closed and it was a timely warning to spread risk. Someone mentioned Interactive Investors and I have to say that I would be quite worried about them after the collapse of their recruiting ground with the website debacle last year, closely followed by the hike in fees .
we are in the due diligence stage of a takeover....once an acceptable time has past... Amer will invite offers from the interested parties and will no doubt put a closing date for those offers...the sp will do what it will do...you can try and trade it or sit and watch the show
This hopefully means some competition & a take out price of mid 20s at least.
Patience will be rewarded soon , hopefully!
GL
Hi All,
How the hell has the SP on this stayed at around 17p, I'm sure I saw a £1m buy last night and it did not affect the SP whatsoever.
All these little sells will probably cause a change though, imo time to hold on and wait to see what the other offers (if there are any)are