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:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
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 and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. 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.
The bounce was on when the first rig spudded, when the rig was moved, when Mengo £7million was placed, when Mengo was drilled, when CPR was due... when last placing and convoluted funding equation was sorted...and the sp's is almost back down to the lowst it have been, in the high 3s. It's bounced like a flat tyre for lthers. Only folk that have ever made money here have been the unemotional traders who don't give a stuff about the company. Everyone else who is still in love with this, in the usual paper-loss Stockholm syndrome way that's the norm for everyone in the red can "rahrah!" for all they're worth but most of the loyal holders will still need to at least bag or three to get back to quits before staeting to make any profit.
Noone likes to see anyone lose cash but they do like to see both sides being posted and if the rampers don't post it... adn that's no bad thing. They're easy to dismiss if making stuff up.
But as has been said, it's BH so three days of no snippiness! Blessed relief! So enjoy, all.
a couple of troll musings be the last word for the BH weekend!
They know that the bounce is on very soon, but the greedy buggers still want it cheaper yet - what other rational reason could there possibly be for their repeated presence? Sorry that Mr Market thought different and did not oblige today. I must admit there is a couple of them in on this trolling malarkey just for sport - there's some REAL oddballs out there. I won't name names.
Whenever I'm getting a little impatient, I remind myself that we are operating in Africa and things move very, very differently over there. The logistics must be nightmare and few could possibly comprehend all that is involved. It's a good job we've got the right ops team to tackle such a job and the prize remains absolutely massive. In fact, we've never been closer. The sp today, tomorrow, next week, next month means little to holders as long as AAOG get back into that hole in the ground and start pumping all that lovely black stuff we've got sitting there in time for Xmas.
Tiburn writes, ''certain incentives, not allowing capture in the annual accounts'' sounds like a potential case for bribery, if that was the situation the entire BOD would be had up for corruption . The BOD know Bribery of any kind is strictly forbidden so It won't happen.
Sp has held up well with a dozen or so trades in spite of the pending £5 million cash call, it can be expected to drift off further until the placing price is known
I was thinking on the big expenses bill, seems a lot but they do have a large tech team flying out there is £5k a pop, one person They cant just stay on the local version of the Premier inn in Point Noirre either- it would be a secure hotel location which would not be cheap, with attendant security
Equally, this is Africa - have a look at the finals document and images of the spud ceremony of last year
There must have been over 100 local dignitaries present, hosted and no doubt all important in some respect and with the ability to influence AAOG success and enable all permits and approvals etc.
SNPC/Govt will have execs that AAOG will need to work well with, that may include all paid trips to London on "fact finding missions" and key meetings, all smooth's the way. Also -and key - there are certain business realities in many sectors - O&G in Africa being notorious in this respect - that may require certain incentives , not allowing capture in annual accounts.
Almost Pay Day again, so looking to top-up my portfolio and researching for a low MCAP, low risk O&G Drill for this year with exceptionally high CoS and fast track production of initial 2,000 to 5,000 bopd and potential for high growth multi-well field development and potential of sale to major within the same global region.
The Oil is already found, an extremely detailed Production Plan developed over months to go back in by sidetrack, this by a technical team with 150 years experience between them, including frontier and specifically African project backgrounds. James Berwick at the helm going forward does provide a very high expectation of success - this is all that truly matters.
These are facts, undeniable positive facts, if your in any way objective, without an agenda.
The funding issues are another matter and poorly done overall - but then hindsight is a great thing, circumstances have dictated funding requirements to an extent outside of DS control, although without doubt he could have done better. If SNPC paid all their debt back in one go and fund going forward - no placing needed, but the fact they have paid back considerable increasing sums in installments each month is very encouraging.
Other deals gone awry, aswell as poor communications and mistakes made up until June - mistakes acknowledged by DS have not assisted matters but definitely improving comms approach and clearer since June.
This is the start of considerable news flow, make ready.
They will minimise the discount by offering 1 free conditional warrant for every placing share purchased, effectively reducing the placing price by a further 50% on a BOGOF basis. If that is the case the sp will fall below the placing price, dependant upon news delivery.
The financing arrangements are up the creek . it looks like both financiers have operated their 5 day exit clause otherwise they would not be offering shareholders some £5 million worth of shares at what will be a heavily discounted price to tempt buyers. I said before after all the financial hype any placing would be poorly received. It will be voted through if not collapse of sp to micro pence and end of company.
Those who accepted and believed TIPTOP and Tiburns and others most recent buyi,buy recommendations will be looking at a 50%+loss on top of existing losses making it nigh on impossible to recover their investment for a considerable while if at all.