The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Am wandering about anyone’s opinion of this company... have researched a lot myself and been watching the share for about 6 months... have seen a slight steady rise which is good, and believe the company has an ok concept. So why the lack of investors, and why all the negativity?
It's just one of those companies that does not work for investors.
I totally agree with you Red0. I have sat back waiting for some good news to materialise but nothing seems to happen. I can now say that I am in a slight profit and in the process of dumping my shares ( I’ve sold 50% of them in the last week ) The directors seem to be taking the shareholders for a ride and keep asking for more money to finance their overpaid salaries.
Sorry to see yet again the Directors are after more money from its shareholders. Be warned a lot of people have lost a lot of money when under the name of Northern Petroleum when the board have been paid way over the odds for what they have done but keep over promising what they will achieve. DYOR. I personally would not put another penny into this Company and i’m sure that a lot of people will feel the same Ask all the Directors to invest substantial sums of their own money in first and for them to lead by example
Alberta unveils $1.4B plan to drive innovation, boost energy industry, diversify economy http://www.cbc.ca/news/canada/calgary/alberta-energy-industry-innovation-climate-plan-1.4433940
The Board confirms that it is in discussions with shareholders and new investors with a view to raising up to GBP15 million in equity capital at a price of between 5.0 pence and 5.5 pence per ordinary share. Such funds will be raised through a placing of new ordinary shares in the Company and through an Open Offer to all shareholders, which will be on the same financial terms as the placing. The funds raised will be used primarily to increase the production of the Company's oil and gas development assets in Canada.
From todays announcement, ..."....approximately 0.13 mmboe of production during the year to 30 September 2017..." This means about 450boe per day production. If they exist the year with about 1000boe per day production, (once you add the results of the Summer work program), then that will do me nicely. With winter work program scheduled to start Feb/March 2018 timeframe, they may yet meet their target of 2000boe by end of 2018. All will obviously depend on how well the drill results are. In the last proactive interview by the CEO he stated that they are already at 800boe , and they still have the last side track to turn on, another side track to drill before end of year and a recompletion well with 50boe also to turn on. That means that unless the last side track is a complete duffer , the target of 1000boe by this year exit will be surpassed.
one tenth of reported asset ?
Thank you. I appreciate your thoughts and understanding your logic
Red0 I can see where you are coming from and it is all relevant. I have however, over the years, come to the conclusion that managements and directors are not in the business to make PI or anyone else money. They are in business to make a living for themselves and not for charitable designs, so I no longer worry about them. I cases where my interest align with theirs then I invest... knowing that in order for them to make money for themselves they need to make money for me. In this instance due to the decline of the share price in NOP, there is clear lack of interest and pent up anger for CAB and management will find it difficult to raise money via an open offer. PI will not buy in as they feel cheated by NOP. If they raise via institutional placing then the institutional investor will want evidence that their investment will be profitable. Hence based on above CAB management an in a bind, they have to make it a success and self sustaining. Even if the reason for this is to continue being in employment or to entice money into the company. To achieve this the share price have to rise. Previously as NOP, they have producing assets that they can sell to meet short falls and inflated wages. At this juncture they have only one option to make it a success or go find another job because if this is cash flow positive by the time the money in bank is gone , then they will not get either Institutional investor or PI money via Open Offer. Part of their wages are now payed in share options so for this to be of value again the price need to rise. Self preservation is a great motivator and an assets in human endeavour. Management knows which side their bread is buttered and at this junction performance is the only alternative.
I appreciate your point of view, however as far as i�m aware most private investors believe that we have been ripped off by the Board with regard to salaries and add ons etc over the passed 4 years especially the way they have run this business. When you look at the directors and how much of their personal wealth that they have invested in Northern Petroleum (now Cabot Energy) really in my view says it all (until they start to invest serious money of their own then the private investors might start to believe in the Company again) Honestly what do you think?
Scoopusave, I understand that you probably lost money on this share as did a host of people. Fortunately due to luck more than anything else I did not lose anything so I can view this share objectively with a fresh eye. As you said it might stutter to 1500boe per day. That poses the question : What do you expect the share price to be at that point? If current side track is indicative and if management lives up to their next year forecast then it will be producing between 1500-2000boe by end of next year. Assuming that the price will be 10p for such production then that is more than double the current price. To me that is investment.. or better than sticking the money in the bank for 0.4% interest. This share may never reach its heady days of over �1 unless something happens in Italy, but if it can produce enough to be cash flow positive then the share price will reflect this. Most exploration companies are just running on fumes hoping for that big strike.. the majority don't make it. But as we all know, investing in pure exploration without a producing asset to fund the exploration is just pie in the sky as you said.. but we all live in hope that we have the winning lottery ticket.
Sounds like the same old stories where Bush is desperate to attract new investors. All this land they bought in Canada had been worked and worked again until it became unviable so even with new tech/sidetracks you are never going to get the oil flow to move the company on to bigger things. They will stutter on to maybe 1500 or so barrels per day and any thing else will be pie in the sky going no where! Be warned investors use your heads to see this lot for what they are!!!
Sounds quite positive. I think that an average daily output of about 800boe will be enough to cover operating cost anything more will lead to cash flow positive. If the second sidetrack performs as well as the first one then they will exist this year with +1000boe daily output. Target for next year 1600-2000boe, hopefully that is conservative estimate.
How can they get away with it. Every couple of years keep asking for more money. Just look at how much each Director has invested in this Company says it all. Most people setting up their own small Company puts more of their own money in as a start up operation than this lot. Gready Gready Gready. You have been warned as many investors have over the years including myself who fell into this. Ask them to dig into their own pockets first
Raising funds to carry out operations within the company because basically the company has not got any funds to do is of no surprise - reduce some of the directors wages, that will release some cash. By changing directors all the time to gain confidence with investors does not fool people either. This company is only a cash cow for directors wages - investors don't be fooled by this clap trap! - this company is going now where and has been like that for years!
#RBD Jeremy Edelman's investments company Hi guys, not sure if you noticed that this small company announced the major fundraise. Been following Reabold Resources for nearly two years when I came across it due to David Lenigas links. They have raised �5.7M cash for the oil acquisitions in UK and Europe New additional Board appointments with Sachin Oza and Stephen Williams joining as exec directors. Put it into your watchlist, will be an interesting story to follow due to RBD taking the interest into UK Oil play Worth remembering that UKOG was started in a very similar manner as well when David Lenigas and Jeremy Edelman funded and trasformed �2M Mcap aim listed company called Sarantel into UKOG as it stands now David Lenigas and Jeremy Edelman started Leni Gas Oil years ago as well. Both well connected in UK Oil and Gas World Good Fortunes
400 barrels a day production - 1000 barrels a day by the end of next year. Sounds like Northern Pet all over again! Bush did not sound very convincing and used the same numbers he used when CEO of Northern Pet - pull the other one keith - we have heard it all before! They get away with this because they are listed on AIM - any where else they would get their backsides kicked!
I was stung a while ago by this lot and the only return on any investment will be in the form of wages to these over paid greedy directors who cannot justify their jobs. People are not daft if they think by changing the company name will make any difference. The CEO can stand up and give as many of his speaches as he likes but it will make no difference as we all know what they are - a bunch of con artists!!!! The have no track record to shout about and spent years trying the blame directors before them - be warned!!!!!!!!!!!!!!!!!!!!!
Does anyone here believe that they will ever see a return on their investment here? Im down about 35%...and to me there is no sign of any significant progress. Its depressing. IMHO.
Oil and Gas Investor evening TONIGHT: Chief Executives from Ascent Resources, Cabot Energy and i3 Energy will be speaking. Buy tickets at http://bit.ly/2eoa0kk
Tomorrow evening, London South East (lse.co.uk) is hosting another in its popular series of Investor Evenings, with this evening focused on the popular Oil and Gas sector. We will be joined by Chief Executives from three AIM-listed oil and gas operators, Ascent Resources, Cabot Energy and i3 Energy, all with a different strategic approach. Chris Bailey, the founder of Financial Orbit.com and a well-respected large-cap investor, will also be speaking. The evening takes place in the historic Brewers’ Hall in the City of London. The host is the experienced financial journalist Nigel Cassidy, who spent many years working at the BBC, and most recently was the main presenter of Share Radio’s flagship Breakfast programme. Drinks and finger food will be available afterwards, when you will have a great opportunity to meet our speakers and to network with your fellow investors. Tickets are £10 plus VAT and are available on a limited basis. Please book early as events sell out quickly! To buy tickets, please visit the following link: http://bit.ly/2eoa0kk