London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Heaven forbid free speech, how dare thy
That has no significance on what is happening right now. Bit desperate I’d say, peeps loading up. What are you doing haha
Have to agree with some of the posts. How this shell of a company burnt their way through 00s of Millions over the past 5+ years.
Before everyone jumps to the defense of the CEO, go back and look at admin spend over the years, shocking. How on earth one man and his dog blew so much is a testament to his/their poor financial acumen
Will take the lot, 2.5 mill at 0.77
I can see another great buy opportunity looming
Well said
Yes everyone on LSE BB is a better CEO or knows better then the CEO's, What ever his done he hasnt asked you or forced you to invest you do your own research and spend your own money,
And you obviously think they have continued with the day to day work without any cost! This is called speculate to accumulate which is basically what oil exploration companies do. If you don't realise this you're investing in the wrong place, or maybe you're trying a silly deramp. Bit too late for that now dear boy!
So he waited around taking a massive wage waiting for others to drill? and got lucky.... maybe. Pretty bad CEO to be honest. We had 20 million cash at one point.
Quite happy how the ceo has managed to get a way to deal with farm out, everyone knows what the company wants in the deal covered, so the bids at the end of march should reveal ho wmany are interested and then whos willing to give us the best deal, Once the RNS is out on a confirmed interest we should settle at what the maket values it, weather that is higher or lower then actual value,
The farm out gets ri of any issues that can hinder the drilling of our license so expecting a hugh rise and the big boys also piling in for the action,
With shell and total making a find here this will now have a lot of confidence on finding oil, nothing is certain but this is the closest we will get to a sure thing,
another month or even 2 is not a long time at all considering the giant share price jump this will do and people here are discussing to apply patience, some people wait a year or years for a 1 bag return,
looks to be underway with no news
Just more and more buys. Looking really good although very little movement in bid price which is astounding
MCAP way undervalued IMO -- should be 1.5p
No necessarily. With the outlook for Namibian offshore seemingly transformed, the very low market cap here means there could be plenty of upside on the mere anticipation of a successful farm out. The Marula prospect with 210 MMB 2U and a 22% COS is a lot for a company with a market cap of only ÂŁ6M and would offer some serious upside if a farm out is successful.
what is the cause of this sudden surge??
few strange buys in there......don't believe in the code thing but why so many ...........maybe MMs rounding up their books ?
0.81 paid
0.797 paid
As you say it’s just a case of patience here. Realistically, it’s unlikely the share price is going to budge a lot until the farm-out is sorted. The news on Graff-1’s discovery and anything positive from Venus-1 would definitely make PEL0094 a lot more attractive.
The main thing here is that the mcap is still only £6m. Yes, there’s still risk. However, should we get news on a farm-out and then news of a discovery later down the line, the potential reward is going to be significantly higher than £6m!
we are blooo....:)
Its there but showing as unknown!!!
Look at the fundamentals or should we just call it mental! Yet the price falls :-)))) Dontcha just love those MMs. I suppose they can spook the day traders and quick buck/loss junkies but the LTHs are not budging. I am looking forward to the big pay day which won't be far away now.
Printing of large trades can be delayed by hours or a couple of days - it's supposed to prevent market volatility.
Fairly standard practice.
Bought 2.5m guess not printing that then
The global oil exploration industry is pulsating with unconfirmed news of a second oil discovery off the coast of Namibia.
The speculation is that TotalEnergies, exploring in Block 2913B just west of Shell’s recent Graff-1 discovery, may have made a promising discovery at its Venus well.
However, a spokesperson for TotalEnergies has thus far declined to comment on the status of the Venus well. TotalEnergies has a 40% interest in Venus-1, with QatarEnergy at 30%, Impact Oil & Gas holding with 20% and the National Petroleum Corporation of Namibia (Namcor) having the remaining 10%.
According to global oil, gas and energy news resource Upstream, “if the results of the Venus well meet pre-drill expectations of a multi-billion barrel find, it will be a huge boon to other explorers in the Orange basin, already buzzing about the scale of Shell’s Graff discovery”.
TotalEnergies’ Venus-1 well is targeting a multi-billion barrel prospect located in about 3000 metres of water. On Monday, Upstream reported that the Venus-2 probe entered the target reservoir, and that “initial indications are positive”.
Upstream also quoted numerous industry sources, one of whom said initial results are “very, very encouraging”, suggesting that Venus-1 had hit oil and gas in “a very thick reservoir”. Another source remarked that TotalEnergies is probing a prospect that is “much bigger than Graff”, which oil and gas exploration consultancy Wood Mackenzie estimates could host about 700 million barrels of oil. Despite these positive initial indicators, another source familiar with the exploration well urged caution, stressing it was too early to say if a major discovery has been made because the probe “is still in a critical zone”.
Commenting on the possible oil discovery, Olayinka Arowolo, CEO of Nabirm, a Windhoek-based oil and gas explorer, told New Era: “This is an amazing reality for the Namibian compact. Personally, I am overwhelmed but proud of one of the best countries in the world that gives you the best comfort level to do business. We have known it all along. The science has always been on our side and a discovery was always a function of time, resources and opportunity”.
Nabirm’s long-term strategy is to build a pan-African portfolio of high upside exploration licences, combined with near-term material drilling opportunities.
Meanwhile, the Venus-1 well is aiming for a multi-billion-barrel structure that seismic and other data indicated covered a huge area of about 600 square kilometres. For any discovery to be commercial in 3000 metres’ deep waters, it will have to be a significant resource. However, even if Venus-1 fails to find commercial volumes of oil, it is believed exploration activities in the Orange Basin are “about to explode”.
Industry experts believe the promise of the Graff and Venus wells will likely trigger an increase in drilling activity in the Orange Basin in Namibian territory as well as across the maritime boundary in South Africa, whe