"San Leon said Thursday that its Lelechow-SL1 well, the first of a two-well exploration program on the Nowa Sol Concession in Poland near the German border, found oil and will be completed for near-term commercial production"
Feeling happy that I sold most of my shares here when we were at the dizzy heights of 2.5p. Zero optimism now that this will turn around and it looks like this could play out in the worse way possible over the next 6-12 months. News of yesterday's spud gone down like a lead balloon and market taken view we are pi**ing away our dwindling cash for highly unlikely positive result. Wish I could see the upside here but sorry I can't and fully expect this to trasde in the 0.5-1.0p range by Xmas.
To look more and more like we are in the midst of a huge scam...Even Links 2p is starting to look paltry Lewino fantastic success, a dream frac, perfection, achieved everything we could have expected and more.
The best, most successful vertical in Poland todate, in fact the result's are so good that we may not need a horizontal test as we have all the info: we need from the vertical.
Brilliant, brilliant bl**dy brilliant, only thing is that was about a year ago, NOT a thing as happened since. Meanwhile Rome is falling, the sp is about to slide under 1p and everyone is sat around picking thier noses. Surely we have to go for Lewino FO or not..Borrow the money, anything is better than this or like I have said imo it looks like the giant fly plant is about to snap shut.....Sid are you still looking for evidence.
sle hold 100% they will FO..they wouldn't go it alone..look at lewino 100% sle they are in talks!....Albania 100% looking at FO..onshore morocco..looking at FO/partners..thats all onshore morocco!..scincy/Permian/rogity have all gone the same..its what sle will do farm it out and keep a decent %....and fingers crossed!!..they have had their fair share of setbacks lets hope all is about to change with this new well and news of pnr drill and test rawicz!!....
penrod...only you would talk about benders!!!!(drink obviously)..links
I'd love a D or and E or blooming anything to get this SP heading north at a rapid speed. Truth is non of us have a clue what is around the corner, including Mr. Fanning. Thats the nature of the exploration game. So I am keeping my mind open to any and all possibilities I can think of, not just the potential positive outcomes. I am very happy to have sold a huge part of my holding bit by bit over the years. The losses have been small in comparison to what they would be today, and at this price,if anything positive was to happen it is easy to set the machine to buy for me on the way up.
If we find commercial oil/gas, in a licence we hold 100% of, we still cant afford to do anything with it on our own and will be down to a 10-20%ownership, and thats if we can find someone to help us out. Tony Hayward didn't care for this little fish of a company. £20 million is petty cash to him.
We have languished too long, the market for oil is currently poor, and over supply of gas is happening, the Polish government have been fools and shot themselves in the heels they have been dragging.
I am hopeful, but not as hopeful as three years ago as there has been nothing but disappointment with every project so far, and time has ticked all the money away .... again.
Mr. Fanning may well be the last man standing, Like General Custer. But who knows what world events and politics will turn up, and who knows what technology is around that corner that will help unlock the difficult Polish geology?
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.