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.
JBT, In4: Thanks very much, I thought that was the case.
It makes perfect sense for a consolidation and reduce the shares in issue. This all looks to be gathering a bit of pace now and I'm tempted to add a few more shortly.
Anyone else considering similar?
Hi Andy - thanks to jbt for his answer.
The confusion arose because Eytan just listed the requirements of Charlestown for conversion of the loan into shares in the RNS - I can see how it can be construed differently but it’s clear now shareholders will get their opportunity to vote on it.
Hello Andy, the consolidation issue was mentioned as part of the Charlestown news. Nothing has happened yet and shareholders haven't approved it, but it is a condition of Charlestown being able to do the deal with CEG when they want to turn the convertible loan in to shares. Their custodian can't invest in companies with our current share price therefore the need for at least a 50:1 consolidation. Details on the CEG website under "Investors" then "Regulatory News". Hope that helps.
GLA.
Was there a specific RNS about consolidation? it said shareholders had voted, did I miss it?!
The news around Uruguay is big and this is ready to go any time. CEG is so cheap, looking forward to 1p plus very soon.
While we’re on the topic of blindingly obvious things—Garry is a troll and likely alt account.
Funny how they always want to tell you their life stories…
GLA DYOR
Garry, you're very good at stating the blindingly obvious downsides of this or for that matter any other O&G explorer but I haven't seen mention of the potential upside unless I'm missing something. You are correct in highlighting potential issues but most of them apply to any share or investment. Most people on here haven't done enough research and their naivety is exposed in their posts. This is and always has been high risk, high potential reward and as long as you've only invested what you can afford to lose, does it matter? Rather than asking Willec about future potential oil discoveries and share prices why don't you do your own research and answer your own question? It's pie in the sky at the moment, the point being that CEG are now clearly on a pathway that is likely to produce value for it's shareholders, IMHO, the trick is to get out once you've made a decent profit and the reality is many people have already done so since last October/November during the lows even if they "only" left with 2, 3 or 4 times their money, it's already been a brilliant investment for some. Before JohnBriggs or some other muppet pipes up that has been easily and demonstrably achievable, it is NOT a fantasy scenario!
Im in ..
Sunshine, re-read your post 3 times and still can't make out if you're in or out , up or down, pro or con
All the best
Incendros - "I can see this consolidation is a worry for you". 23.04.24 11.03
Trust me, money is not a WORRY for me. I say this not because I have an abundance of it but because everything in life is more important than the worry of money. I, for one, certainly don't worry about a share consolidation. If Chevron, on our behalf, finds billions of barrels of oil as investors, our children or grandchildren will probably have an abundance of money. If they find nothing or Eytan Ulliel and his board of directors screw the retail investors, we all lose our money, and our millions of shares are worthless as they pretty much are now. But worry, no, I don't worry about money, and you do not know me or my risk profile. GG
Not sure why anyone would come up with a statement that consoldation will somehow relate to a SP fall - the Mkt CAP stays the same .. make no difference at all other than it looks better than billions of shares @ 0.15p on the requster. its a good thing. Also Whist there is signicant risk on a wildcat you have to base that risk v market cap not SP. Chevon have put that risk based value on One licence at many multiples than the current Market Cap, and now we have Intitutions getting in on at premium.. Whether Uraguay is the next Nambia remains to be seem , but if you want to get involved CEG is worth a fraction of what other much more knowledgable world leading oiler are ready to invest. These boards are full of Desperate gamblers and Fools IMO
willec, how many billions of barrels of oil are you predicting then, and what is your estimated share price value when we find all these billions of barrels of oil in uruguay?
i'm not taking the **** - genuine questions.
GarryGraham - are you sure this share is suitable for your risk profile?
I don’t think the consolidation will do too much to the price, you’re right though it’s a huge gamble. I do think it’ll continue to rise though. If and when the deal with chevron is signed we should get an increase, if and when there’s a deal for OFF3 there should be an increase, if anyone else finds oil in the region then that should of course be another increase in the price.
The risks are obviously an issue although the cash position is hopefully good enough and the board have vehemently denied that there’ll be one (all credibility lost if there’s another). As well as of course there could be no or only limited oil.
The risk and reward are both huge on this one.
GarryGraham
Posted in: CEG
Posts: 724
Price: 0.1425
No Opinion
RE: Added12 Apr 2024 12:01
I have added to my load today and intend to add further. Im balls deep anyway so a few grand more is just going to bring the average down and if the miracle happens my Grand-daughter is looked after. Its only money lot's more important things in life. GG
GG - as you are ‘ balls deep anyway ‘ I can see this consolidation is a worry for you. Have you sold out in the meantime with a view to buying back after consolidation has adversely affected the SP - if so are you worried that positive sentiment in the intervening period might negate any potential impact from consolidation ( if , indeed, there is any at all! ).?
Getting better by the day.
Nt for £1000 or more
But can sell 10million shares no prob
Some one has a big order ?
My most significant two concerns are: 1. Once the share price consolidates, will it fall dramatically as 50 to is a massive consolidation? If so, is it best to wait for it to consolidate and buy-in, as the SP usually falls after consolidation, and will there be another massive share issue once it's been consolidated, rinsing and repeating the retail investors once again? 2. Will the drill go ahead with Chevron, and if they do, what are the chances we will find oil? It is a MASSIVE gamble. I don't care what Willec and his campers say. It's a binary position. This is the last chance saloon for CEG. There are no other plays, and they are the last cards on the poker table. It is either a winning hand or a busted flush. Willec goes on as if we have already found oil in the billions. GG
I note that trading 212 has lifted the limit on the number of shares that can be owned, anyone else’s broker the same ?
F.Y.I
Valaris D17 Drillship is moving down towards Falklands offshore Argentina arriving tomorrow to start drilling. Targeting 1 billion barrels.
Equinor in April will begin drilling the Argerich-1 exploration well in the CAN 100 block in the North Argentinian basin, offshore Argentina.
The well will be drilled 315 km from the port of Mar del Plata by the Valaris DS-17 drillship in 1,527 m water depth. It will be the first to be drilled in the country in ultra-deep waters. The well is expected to reach about 2,500 m in depth and 106 cm in diameter at the sediment surface. Drilling work is estimated to take 55-65 days.
If the presence of oil is confirmed, Equinor and partners are expected to carry out an appraisal campaign in 2025 to gather technical data including field size and potential productivity.
The Argerich project is operated by Equinor with 35% interest. Partners are YPF (35%) and Shell plc (30%).
This will be 2p + very soon with all the good news and activity around the corner.
Willec. Have you still got a hard-on?
Relax kid!
Willec relax mon ami - Your fellow Ramper (for 2 Minutes again) - is at hand.
CHARLESTON has been making investments globally in E&P since 2016 and has been the cornerstone shareholder in SINTANA Energy Inc, a TSX-listed exploration company since 2019. Sintana maintains an indirect interest in a portfolio of exploration licenses in Namibia including in the emerging Orange Basin, where several multi-billion-barrel discoveries have been made by Shell, TotalEnergies and Galp Energia. As a result of its early entry and the subsequent exploration success, Sintana’s share price has appreciated more than six-fold in the past two years.
Q.E.D. JB
GLA
IK
Willec do you think everyone is as gullible as you? All a little too convenient after Malcy’s random reference to Sintana. Etyan and him must be laughing up their sleeves!
This can only help to benefit us. Great news all round