A thoroughly excellent de-ramp by Frus a couple of years ago.
In amongst all the whinging and sniping he raised a very valid question, which was; if JB was so certain about the chances of finding gas in Poland, then why didn't he buy any shares?
This of course was a very valid question and one which, at the time, none of us could answer. In short, it did cast doubt over the validity of his claims at the time. Actions speak louder than words Frus insisted at the time.
He was right too. When JB suddenly left the co to go sailing or whatever it was, things looked even worse - The company had no means of developing its assets at all, Frus said.
He was right too. He made a very sensible argument at the time.
At no point since the PNR deal has he acknowledged that JB's actions have now answered his question, which is odd, given how insistent he was on asking it at the time but when the question was raised, I had to admit, it was a good one.
Actions do speak louder than words. I'd imagine JB's backers probably share that view. They might even want some return on the vast quantity of money he persuaded them to invest too.
The question was answered by JB last year I think.
Even yesterday's DM refered to a large gas find Rns imminent, apart from Thursday's article itself. I was under the impression that Rawicz was a small prospect, so don't quite understand the journalist's description. The figure of £65m doesn't jive at all. But papers generally do not speculate on facts. They have a duty to verify that which they print is correct, otherwise they are wide open to litigation. So my only conclusion is that this field is much much bigger than first thought.
Sle own 35% of 2 large gas on shore gas finds in Poland .the cost of development of both fields is costly, SLE in this current Market could not raise that cost.. One must look at the deal and who is behind Palmor. SLE got a a free carried interest on everything, they an agreement that has strict time lines for well Completion and infrastructure . Can Palmor deliver. yes they can. That company of which Dr JB has a 10% interest is owned by 2 gentlemen from the Lebanon. They are experienced oil and gas operators with wide experienced who are very successful and operate all their business from the USA where they are based for years . They have substantial means and their companies including the company which owns the Polish licences have the knowledge and means to developed both fields Both gas files are worth when produced in excess of 1.7 billion and SLE own 35% . S o when Mr Fanning completed his deal , some said he gave too much away, well he did not. As his company was underfunded and had no means or support to develop his 2 very large gas fields. The programme to be undertaken is very big. They will be announcing the flow rates on the existing well shortly , it's my guess they will be producing in excess of 5.5 cf per day once the well Skim is cleaned up. Then we will hear confirmation that a number of wells will be In train shortly. We will will also get news for a date on the .Serkie spud in,
It's an awful pith Soros and co failed to properly fund SLE. Soros had a share in all 3 companies, which have been amalgamated in to one company. Sle will have to do JV agreements on it's Shale licences and we all know they the best located shale licences in Poland . All they need is cash to prove them up. I fear we will loose a large % from the large caps , Morocco is the same, Repsol spent a a fortune on the zag basin, if they hit then we may be luckw hence will not have to give away so much Albania It's on Europe's door step and holds an extensive gas discovery, rumour has it a large mid cap is snooping and is about to strike ???? Sle is so undervalued, The mail got it right.. The figure of 1.4 billion value on the 2 polish on shore licences are correct. The recent discovery proven up is valued . Circa 400 million and conservatively Sirkie is a Billion Keep an eye out on the Zag Basin the gas potential on shore is billions Track Repsol and the drilling And we still own Spain
this company has defo had its share ripped to pieces regarding sp..I know it all longtermers know it...they have had their share of back luck..I know it all longterms do...but where do we want to to go..up of course..this company as we know has an amasing aray of assets..and that's what longtermers talk about..but for some they are no here for that...its the companies demiss they are after and post accordingly..
I know all what has gone on and could post with bitterness..but I believed in this company from the beginning with research..and believe things will turn round for the better and because of this downward trend I have averaged down over the last year to 2p(and had a lot of snide comments for it and guess from whom!!),,,,,,,,,posters that state your money invested here is worthless by saying "this company will be finished by year end" and the end is nigh" and that no capital etc etc will be got............and continually dis positive news..dis positive posters and their posts on the company are not balanced......those here who have researched this company know what they are getting ie high risk investment.....they don't want their noses rubbed in it just because these jerks have lost money and have no idea...........not having a go at you fracker but these guys are not balanced posters sorry...atb links
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