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.
I would imagine if they are good they will be released as soon as ready if not, then they will wait for carapa and release it all at the same time.. wouldn’t surprise me if we get an update before December
No need to worry about anything, just wait for the final results, we can all be wrong in the end... there is nothing else to do here until results are published
Why worry about missing API and suplhur content details when we've got another Gil spoof buy to look forward to.
Reality for me is; Why they will not give the details of the Oil quality? IMHO I would think reasonable analysis is available!
So as said before and to be somewhat of a pragmatist, I am putting my hopes to a future drilling 2020.
Maybe Carapa might have an impact?
IJT,
It’s not the point. The point is info was withheld from the market for two long and leaked to the media. His statement was a twisted recognition of that, reading between the lines they fkd up!
The significance of the API and the sulphur is how it fits into TLW’s plans now. It potentially could change everything in terms of timelines as well as economics and even commerciality. Some had wind of this hence the drop from 1.80. It sucks.
Worse still Gil goes on Proactive waxing (lol) lyrical about how good they are and buys more shares . So he may not even have known then what the fk was going on. Both scenarios are bad.
Look I took risk and lost. That’s the game. It’s just that I don’t mind loosing to a duster but I don’t expect to be hijacked by a CEO that either doesn’t know what is going on or does and withholds. I actually think it was both before they came clean with this half update.
Sometimes you gotta take off those rose tinted glasses and look at the facts and change your mind.
I know there is no point in complaining to regulators etc but amongst this Imo, PI’s, self included, should learn another lesson from Aim that even those that seem to be honest and act with intelligence and integrity do not always turn out to be as we would hope. It’s life.
Genuinely GL to all here.
Trek
If you dont know what the very high sulphur content is, how can you know it is manageable.
What if its 5% ? or 10% ?
Sour crude means sulphur over 0.5%. How high is this, nobody knows..............all we know is TLW said VERY HIGH SULPHUR content......which may mean, its not commercially viable to produce.
Dont forget, because the API and Sulphur content is still not officially known, they can talk and talk about production and commercialisation theories as long as they want. But when its officially released, when people see what it is, then people will know the likely outcome.
Most convenient that the API and sulphur content is still unknown ................. tick tock tick tock....everyone praying Carapa comes in then a good chance to sweep Jethro and Joe under the egg smelling carpet................
Trek,
The sulphur content is manageable from everything I have been able to read. The economics by my reckoning are 20-25% different and the geology indicates oil in older source rock layers have higher likelihood of being medium API.
The valuation attached currently is not down to fundamentals, I mentioned before we are capitalised at less than our likely share of Hammerhead or less than our share of Jethro on $2 per barrel plus cash. With no value for Joe and none applied to rest of the field.
Disgusting!
“We recognise the market reaction to our last announcement on the oil quality discovered at Jethro and Joe....”
Well that make me feel better about loosing £20k that was invested on the back of the drilling updates!
And again they say ‘high sulphur’ and the media were told ‘very high sulphur’. Sorry Gil you have lost all credibility. Join the long list of AIM disingenuous managers!!
Trek
Totally agree - announcements on AIM are as ambiguous as possible so that management can cover their tracks... When something is not 100% clear on AIM, always assume the worst.
Rightly a conservative RNS. We are talking about the first Two targets! Think there are some more available. Sure it is possible not to drill in 2020 but that the bet you take.
Trouble is, there is no legal definition of similar/not dissimilar when not specific.
Art is not dissimilar to music - is correct but they are different.
The oil in Jethro/Joe is dark brown, therefore its similar to other oil fields oil.
Jethro/Joe oil is not dissimilar to other oil fields.....as the oil is dark brown.
RNS announcements have legal consequence. Thats why when someone uses flowery wording and is not specific, there is a reason why normally !!
The RNS doesn't say much more than previous updates. However, it doesn't say uncommercial and makes clear the likely commerciality. Wherever I have looked I've not seen a sulphur content that is too high and additionally it seems heavier oil is in younger rock - this we know is the Pliocene and Tertuary so can reasonably expect lighter oil in Cretaceous.
They're using the same imaging for the Cretaceous as used to intersect directly the zones in Joe and Jethro so April/May should be interesting as drilling commences. Expect CPR before drilling announcement.
the rns mean to the opening price will we see 55p + or keep drifting sideways