We would love to hear your thoughts about our site and services, please take our survey here.
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.
Will, I am sure you were right. Managing to leave the Hotel California was absolutely the right thing to do, even if it cost a few bob. Blame Georgie for not doing what he should have :)
I'm of like mind. A few days back, I ripped up my 1.00p buy orders, because they're IMO unsafe, given SP trends, which I believe are now set for the mid-term... until well into 2020 in my view, when Balcombe and Saltfleetby eventually start being truth-tested.. There's far easier and much less risky trading money to be made elsewhere.
950,000 sale at 1.06p - Will was that you? or is shorti9ng continuing?
Yl ....Hi M8
I have ""dumped "" :-) most of these now as no spike for over a month....making profit elsewhere...Angs still on my radar though..gl
2 x mm's on bid @1.05 then 1pence....still GL does not buy...
Maybe just widened the spread today?
How odd!
It's 1.10p in the middle, 1.05/1.15p.
Hi Ocelot,
I use HL platform and it has consistently showed 1.10 for the past week or so, until today - now showing 1.05 to sell.
Vonk & Tidswell of course.............
I would love t be a fly on the wall when they sit down to "negotiate" with the OGA - these are civil servants who, on a good day, are in complete CMA mode.
Angus - or rather JTP and Tidswell - have caused the OGA more problems then even Cuadrilla so they'll not be predisposed to believe a single word that Lucan says (especially if JTP is still hanging around). They'll want solid legally enforceable, nailed down ring fenced cash - that will take ALL the money "received" for Saltfleetby and maybe some more depending on what they decide - perhaps an extra 10% "just in case".
I think it IS possible to repair your reputation - UKOG seem to have (almost) shaken of the Lenigas taint these days - but that's taken 4 years .......................
Lowest trade on AIM so far today is at 1.10p, but there have hardly been any trades - just 4.
Facts are Facts..........You cant twist them however unsavoury they are to you!!!
As an LTH myself I fully appreciate the desperation of others to help keep this company afloat with "some" positive spin... but personally, I've long since given up... what's the point?
It's like trying to polish a t*rd - it's never going to look pretty - however you look at it.
New low today of 1.05 says it all really!
It's hardly speculating.
You yourself admit they are going to need funding.
Some will have bought in on GL's claim that they will have £2.5 mil cash from the deal.......this is quite clearly not the case.
As for your suggestion that production is meaningless in this context.
Lidsey (the only producing field 8 BOPD last figures submitted} is uncommercial on any scale since it started production back up last year. It needs shutting down (another big cost)or another god knows how many £ million-pound investment in a play that's not even in the licence area. Another massive cost to a company with no money and no trust from the market!
Suggest you look at the net cash flow profile provided in the 19/06 RNS.
Saltfleetby appears to be a relatively low-risk venture.
It is highly unlikely, imho, that the funds will not be forthcoming to advance it.
I suggest you read the last RNS on the subject and then check out the OGA website for the information. Also, have a look at the company accounts it lists de-commissioning costs and i could be being generous at £3.5 million.
Charlie, they are only producing 8 BOPD!
They also will have £3.5 Million ring-fenced for de-commissioning costs as required by the OGA.
They lost £2.6 million last year without Balcolme or Saltfleetby on the books without those extra costs. I would estimate they are losing Circa £10.000 a day with these extra costs. Funding is going to be required sooner than many are expecting
https://data-ogauthority.opendata.arcgis.com/pages/production
The only thing Angus will be exploring is the next way to get finance! .............and who the hell is going to offer it to them??
LL's city chums won't be to keen after seeing the massive drop and if they do at what discount.
So possibly they will be exploring the plughole as they go down it!!!
many explorers out there are far away from generating a penny. so, I think ANGS is due for sharp recovery as our mcap too low in comparison
Pessimistic scenario:
Placing - pay BOD
Placing - pay BOD
Placing - pay BOD
etc, etc, etc
just imo
Outline cash flow profile from the 19/06 RNS:
Net Cashflow - conservative scenario:
Year 1 £1.8m
Year 2 £3.7m
Year 3 £3.0m
Year 4 £2.4m
Year 5 £1.9m
Year 6 £1.5m
Net Cashflow - optimistic scenario:
Year 1 £1.8m
Year 2 £4.2m
Year 3 £6.2m
Year 4 £6.1m
Year 5 £4.9m
Year 6 £3.8m