The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
quercusrobor: We live in a democracy - opinions are allowed (currently at least). Maybe you prefer the Xi Jinping or Putin way of running a country?
Rxdav, Your absolutely correct, frustrating isn’t it, I believe it will come though with both, AVCT will get taken over.
Tony, You're over with me on AVCT - you've seen this week two highly positive RNS which have had near zero impact on the SP (its similar elsewhere). The point is that if in the current dire investing climate even a cracking RNS (or two!) can have little impact then random PI's ramping (or being 'positive') is going to have zero impact . My big concern (apart from an outright failure) is that even a positive RNS here stating commercial oil from the side track will not move the dial much. There are many, many PI's who will remember BLOE (and PH particularly) only too well - and not in a good way. Hopefully though, there will be a spike to 4p!! GL
re... the rest is my opinion - to which I'm entitled I believe?...rxdav 8.38.
....have to smile broadly at such a predictably trite comment...;0...
....it seems that a certain element of the popualce feel that 'entitlement' is their divine right nowadays.....as for being entitled to an opinion.....well everyone has one don't they?..;)....
Respect Rxdav, I hear what you say but we need positivity right now on this board right now if we’re going to attract new investors. I’ve just made a small top up this morning on the back of this news and an operational update in the next couple of weeks plus Spud news and a further 4 Spuds this year. We’ll get you your 4p.
Tony: I hear what you say - and I hope your glass goes from half full to full. However, until and when I see an RNS stating the side tracks have been commercially successful I'll remain highly sceptical - and with good reason given PH's past form.
If I post anything factually incorrect I'll apologise - but so far as I know I haven't - the rest is my opinion - to which I'm entitled I believe?
GL
Terrier ... I totally agree with you ...I'm surprised that some posters continue bashing this share ... why dont they just move on ..sell out if they are not happy . I have been trading shares for over 40 years and like all gamblers you have good days and bad. This company appears to be making progress, definately under valued and the future looks fine from my point of view ... and that's just my opinion ... GLA
Rxdav - I would begrudgingly have to agree with your statement about raising capital in the current climate if it wasn’t for the fact that the whole of Europe needs Gas! There will be people out there that will want to invest in this project, even in this crap storm we are all living in right now.
The operational update is now the only focus in my view.
Rxdav - are you sure your invested ? If you want to get your 4p then you better change your tune, glass half full rather than half empty.
rlightor: If you want to live in fantasy rampland that's fine - you'll have loadsa mates for sure. However, I'll try and deal with the reality of the situation. GL
Those are standard statements regarding finance that all companies have to declare.
Things appear to be looking a lot better here now.
The price of gas and oil couldn't be better for them.
oneandonly1: If the side tracks fail that's exactly what they will have to do - it actually says so (and couldn't be a worse time to try and do so).
Rxdav. You take cutting your nose off to spite your face to a new level. Looking forward to 4p so we don’t have to suffer you any longer.
OK but if you believe that? You why don’t you believe they will rase more finance?
“As part of their going concern assessment, the directors have performed a reverse stress test on a low oil price scenario in which future drilling is inhibited or unsuccessful, and have concluded that it remains possible that future revenues in such a scenario might not cover all operating costs and planned capital expenditures, creating a material uncertainty that may cast doubt over the Group's ability to continue as a going concern. Whilst acknowledging this material uncertainty, the directors remain confident of making further cost savings and/or raising finance when required, and therefore the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include the adjustments that would result if the Group were unable to continue as a going concern”
Seems it's on a knife edge from information in public domain - if the side tracks are successful then OK, they live to fight another day. If not, it's crash and burn (or basically try for another raise - good luck with that in the current climate, with the current SP and with their reputation).
To say money is tight is an understatement - but enough for the side tracks (or so we're told).
Based on this financial report I'd say it's a 50/50 call at the moment - but sure can't afford any more of PH's legendary fu*k-ups! Hopefully the Operational Update sheds more light - if it arrives on time.
Snouts in the trough RNS imminent.
So, no significant surprises one way or the other - now let's get those bloody side tracks completed sometime this decade so we know our fate one way or the other. 4p to BE and out.
GLA
£30m in assets, £11m market cap, re rate overdue. GLA
I think you’ll find the numbers do add up as they are audited. The thing up his sleeve is what is not said but proposed. Exciting times for this company as a going concern.
Geowiz, - this is 2021 results, not unexpected financials here , much as expected as investment in plant and pipelines and drilling.
Geowiz you haven’t been concentrating on this have you ?
Yes Geowiz figures don’t add up to me!! PH might have something up his sleeve.
Morning Peeps.......
"The Group is in the final stages of preparing to drill a horizontal sidetrack in the WR-B01 well followed by sidetracks of other wells. The forecasts assume the wells will produce oil and gas, which would be sold, and indicate the Group has sufficient funds to complete the drilling of the wells and to meet its liabilities as they fall due until December 2023"
Pretty much rests on successful fully funded sides still, and then on to x3 project plan........!
All the best (any thoughts......? you too Geowiz...........! :()
Geo. May I offer up a little advice. I have to assume you can read. Maybe in future you should read an RNS before making comment. People may take you a little more seriously.
Results show it makes a loss and is down to its last $1.2 mm.
How would we expect 2022 to be any different given they have stopped drilling.
I would expect a blue day ... I'm no expext but to me the accounts look meaning full and are filled with some definate plans going forward....
I think we can speculate as to why, but why did they leave it until last minute to release the results, I suppose that will unfold over the next couple of weeks. No shocks in the results and bearing in mind this year we have sold a lot more O&G at a lot higher prices in the current year bodes well. I expect we will have an intraday rns about employees share options. Now looking forward to next week’s Operation Update. GLA
Well the RNS is out...