Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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The 11.24am trade was a buy at 13.099p
The other 2 at 10.01am was a Bed & ISA
Bit concerning no one wants to buy at these low prices but people do not want to sell below the bid today. The company needs to issue something but I feel the SP will be out of the teens this week and probably tomorrow.
99% never agreed a placing was coming but looking at the posts over the last several weeks, this percentage has considerably reduced.
Still thinking the cash in the bank is ~£1m and although it said in the final results the overheads have been reduced by 30%, this is in my view, is not saving 30% of the £6.878m administrative expenses.
Suspect that we see the 12s tomorrow which puts pressure on the next placing which I thought was 10-12p. The 10p placing will be very hard to achieve if it drops further.
On top of this, wti has nearly dropped $10 since RP mentioned the figure from ED being $600k in the first month - clearly assuming they are as successful as the first 2 wells. First month revenue for 2019 has already lost $90k, $77k in month 2, $65k month 3 etc on top of the first 2 wells currently not in production losing £50k per month. Money is surely looking tight now and if wti continues to drop, more pressure will be put on the finances.
The more time goes by and with the existing revenue dropping currently due to wti, the more funds HNR may need and again, putting more pressure on the funding price Highlands may achieve. It is currently very difficult to raise money at the moment without a huge discount.
Previously said I feel single figures are coming but day by day, the chances of this seem to be increasing.
gallini - after listening to this https://www.pbs.org/video/prop-112-oil-and-gas-well-setbacks-8riggg/ - that you have posted.
I am almost 90% sure that voting will fail. To many resonable answears/explanations that current 500 -1000 ft distance is safe enough and that there is no reason to waste it.
OSG1, I hope so. Remember the film "The Big Short" and the Christian Bale character, Michael Burry. After making his, and his investors fortunes, through his hedge fund. The statement at the end of film was that he is concentrating on one commodity...water. A quote attributed to MB, “Fresh, clean water cannot be taken for granted. And it is not — water is political, and litigious." He called it correct before, fingers crossed.
GLA LTH
I have never said anything bad about that water play. Really liked that RNS with water play announced. Water is a valuable commodity. Only a fool would underestimate income that water sales my bring. Actually, I wouldn't be surprised if we get more water contracts announced before anything about Kansas is released.
It's a good sign today 3 sales of £15k each and finally no fall. Somone is buying any amount at 13p. It seems that we have a bottom now. It looks like recovery is coming.
FYI,
https://www.oilandgaspeople.com/news/17499/the-first-water-management-event-for-oklahomas-highest-growth-shale-plays-scoop-stack-and-merge/?fbclid=IwAR0w5c00xfQlsQ8AXC28eDzxpfs1309lr6fZJyxwbme8t5PNe4_l9puPD4Y
http://www.scoop-stack-water-management.com/?utm_source=OGP&utm_medium=Website
Just shows how important, if managed correctly, our potential water services might become, albeit jam tomorrow!
GLA LTH
Great story - thanks for sharing!
Evening all, don’t post so much anymore but thought I’d share this article (forgive me for sharing the mail). Amazing what happens when you broaden your times horizons and stick with a company you believe in. Cant have been easy to build such large stake at that low price unless there were a lot of sellers..
All the best to everyone and their individual, chosen trading strategy.
https://www.thisismoney.co.uk/money/markets/article-6355935/Builder-wife-hit-38m-jackpot-making-slick-gamble-North-Sea-oil-firm.html
... But perhaps the fact we only have 118m shares in issue, only 29.5m more could be issued, alongside RP’s warrants and the fact at present a few hundred thousand shares can move the SP is both a hindrance but also a blessing... This is so far off the radar with a lot of people, partnerships and sales $ have a habit of changing that however...
It would only become a problem for me if I had to sell, so I do genuinely feel for anyone who has lost money because they have had to (or chosen) to sell. My average on the other is still very comfortably below where it has been back to and recovered from of late (there) and yes I’m underwater here (purely on the basis of investment into here) but not worried. So as I’ve stated before, my investments are aimed at 2021/2022 timelines for the big rewards, but I fully expect very nice rises on the way long before that both here and there. With our MCAP as it is and the kind of revenues one could expect from Kansas let alone elsewhere, I’m not concerned as I believe the company has more than enough time to bring these to fruition. Partnership deals with major blue chip companies and expected revenues from Kansas would have an immediate change of sentiment and shift here. As for the other one, it won’t have explosive revenue for several years, but that doesn’t mean it’s value is not going to rise, it’s about to have $3.6bn (albeit mostly debt) available to it but that is developing an asset with what people can now see as a real value product (with previously negative ICL having switched to and now increasing their own mining and production of their Poly product to 3Mtpa...) Different sectors, but look at all the tech things like WhatsApp etc. having valuations of billions of dollars based on zero revenue at the time but you can see the potential value of the assets / future revenues in waiting... As long as you have a method of funding yourself, the ability to deliver, and the underlying assets, then ultimately those higher valuations have a very good chance of being achieved. Some of our plays are riskier than others, some are there, it’s just a question of moving the product from a to b really - queue the snipes about plastic pipes etc. - But really. What is it that needs to happen in Kansas? People want nitrogen, people will pay for nitrogen, nitrogen needs to get from well head to some form of transportation to a processing facility or customer... There are lots of potential customers, there are options with regards to processing facilities. I’d love an RNS on Kansas and the SP to jump accordingly on the back of a $ inbound update. It would be great. But if I found out later it could have gone a further 5p,10p + xxp but we jumped into bed with the first willing paying customer / partner and a better one was waiting, but not quite over the line yet, I’d have the right hump, and that would not have delivered shareholder value, it would have short changed the shareholder... The SP is incredibly frustrating and I’m sure I’ll get the usual backlash jam tomorrow etc posts. If you need the money now then I understand the promises of shareholder value creation etc are not there yet and people are underwater. But perhaps the fact we o
I love you HopefuleDave, as you know we've been in the same two share for some considerable time and are both in very deep and under water (well i know i am, i think you must be too).
Your updated are great and really useful, but i have to ask, when does all this great stuff not moving the sp forward become a real problem to you?? I've been in for nearly 2 years and for most of that time have been hearing how we are increasing acerage, DTU at tipping point, in advanced talks over commercialisation etc etc, but i'm sorry to report, when i look at my share portfolio, i am 50% down??
The board have to take the blame for this, shareholder value is key and they haven't delivered any!
The fact we have publicly stated it is going to, means there is no need to notify to say something is as it was said it would be. I don’t agree with RNS’s every 5 mins. I do believe we could communicate better on website etc for things like that however...and I do believe that is something that should be done (and have mentioned that) On the flip side. If we were desperate to place, don’t you think they would be pushing out micro updates..
Highlands on the COGCC home page under news & notices.
HopefulDave, We have multiple projects on the go and i don't think it's too much to ask for an update. RP stated on VOX and in the last RNS that fracking will recommence at the beginning of November. If Fracking has re-started whats wrong with a simple update to let us know ? they could then add the first three wells that were 60% complete are now 100% complete. If anything it will build a little confidence that were not being ignored and maybe a little momentum going into the flow results.
FYI. For clarification. Well at 5 miles isn’t all producing, it’s the length of the overall drill. The producing section being 2.5 miles long.... don’t want to seem to be misleading. Point being. 104 wells currently, some of which are that magnitude is, as alluded to before, a play which may well cost ~$500m in total when you have developed everything. It’s massive. It’s the scale of these projects which should make people think again about the acreage we have in Montana, and even the acreage we have now in Kansas. (Not even thinking about the CO2) and overall scale of these projects we are looking to develop... Kansas suddenly being unveiled like WD has, on land we can drill on, already proven etc. What then with even a 16 well+ programme or something.. and gas we can sell / about to sell... What if we announce a strategic partner and go 50% on a much larger piece of acreage or something? We are clearly not looking at small projects now.. I’d rather wait another day, week or whatever to find we kept an extra x % of a play or got an extra 50c or $ an MCF for the Nitrogen etc....
... Clearly we want the board to deliver Kansas in terms of: The development plan. The plan to get the nitrogen to market. When it gets to market. And then expected amount we think we will take to market. Possibly with final acreage expansion / capital injection / partnership. The fact WD was up to 48 wells a while back and now you can see 104 applications in, for some wells which are 5 miles long, should be a clue as the scale these guys are looking at, the partners who they are talking with to develop something as massive as that. We all want that $ inbound RNS but.. One assumes Kansas is progressing just like WD has been progressing as per the strategic update, and anything that can be released will be, but we will hear about it when it’s ready..
It’s unlikey that they would have announced any more on WD today. No point poking the hornets nest. Once the vote is done however, then one assumes we will hear more of WD and rightly so. This *obsession* with near term goals that would move the SP instantly back up *only* as something to be discussed is the reason why we are where we are at. Yes we need that confirmation of where we are heading short term, but it’s the detachment of the companies strategy and goals and what they are setting out to achieve that will deliver the shareholder value that the company speaks of that has us down here also. It’s all well and good announcing you have X or Y but investors will want to see not just a revenue stream that is there now, but what you are looking to do in the future, how does the company look to grow? WD is one of a number of big picture large projects the company is involved with. Scenario a: 112 passes and we lose ability to drill all wells there but move pads onto federal land and still have a significant number of wells **on some of the now only land that can now be drilled in Colorado....** - Value of that play then? Scenario b: 112 fails and we have a monster development looming on the horizon. So board filler? Would Helios or water be a board filler? Is discussing the medium and long term strategic goals of a company a board filler? I know everyone wants to see more $ in the bank immediately and commercialisation of our assets, from any one of our projects, but the size of these plays on the side is huge. As soon as revenue or partnership funding is released, it’s not just a case of money in bank it is what that money in the bank then goes on to fund / move these projects forward and those rewards that follow them that will deliver the bigger rewards. Assuming Kansas etc delivers funding and we get up to 20’s / 30’s again I bet loads of people will bail out, but if they understand the potential of bringing online these other projects (alongside continuous revenue flowing from Kansas) then they might want to think about holding on for the bigger prizes! ED progress aside, Kansas is the play most likely to reveal a path to revenue / partnership in the short term, bar some crazy DTU curve ball. The reason there is no RNS is because there is no news yet worthy of an RNS. The company release a strategy, and work towards it (WD) and its all “jam tomorrow” so what do you want them to do? Release an RNS naming the companies they are in sensitive commercial discussions with? Tell us and the companies they are trying to get the best price out of, or a higher % of capital investment that they are the ones with the best deal on the table before the deal is signed? If the deals aren’t signed then isn’t that “jam tomorrow”? Clearly we want the board to deliver Kansas in terms of: The development plan. The plan to g
Perhaps the uncertainty around the vote is delaying
The signing of an development plan / agreement for West
Denver, it might also be a reason for holding off
On Kansas progress, no point announcing anything positive until
Result is known
Let's hope they have not dropped any tools into their Kolorado well as they did in Montana xD
agreed OSG1, the bit i'm unsure of is if any further ED development might be affected and the general sentiment 112 brings to the old explorer market.
What this share needs is the BOD to show some regard for their shareholders and give us the detail on things like Kansas so new investors can see the opportunity and create some demand. we need proper revenue and profit forecasts not straplines at the end of other RNS's
112 - another board filler - important may it sounds, although we already know that WD is not going to be affected if it will pass, as most wells are far enough from settlemetns (post nuclear zone lol). The same for ED operations - not affected as already in place. We may not see any change regardless of the voting outcome. Market is concerned about the funding. Money from Kansas + Ed + more water contracts would save us and allow self funding and bright future - but so far absolute silence about Kansas.
And obviously no RNS today as well so another chaotic day for SP.
warns of a shift
Oil companies have been racing to get approval to drill in Colorado ahead of the vote. There were 200 more drilling permits granted in Weld County in the third quarter of this year compared to the se
rdo DiCaprio.
A University of Colorado online poll showed narrow support for the ballot question that was barely within the margin of error. A mid-October poll by Height Capital Markets found that 43% of respondents support the measure, while 47% oppose. Height Capital sees a 20% chance of Proposition 112 passing.
"It's going to be tight. It's kind of scary for the companies," said Katie Bays, an energy analyst at Height Capital Markets