The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
how soon before this breaks double digits
Agree completely haggis and we have 150 million in cash and very low debt which is also a long term liability
> Flying will be fair value at 15-20p
Correct.
Interestingly RRE produced ~20K barrels per day.
Their final market cap was £240 million (balanced against £300 million in decommissioning costs)
So doing some fag packet math's HUR is certainly worth ~20p assuming no more issues with the reservoir.
Flying it is 90% down from when they had not extracted. Flying will be fair value at 15-20p
> pence not pounds.....
correct, excuse my typo.
I am too used to seeing HUR in single figure pence :-(
What would be seriously good is for RRE management to move over to HUR, and really get something done in terms of shareholder value increase ! I'll settle for 1800p !!
Dreaming again. I must wake up !
haggis- pence not pounds..... it's early for some.....
was tempted with RRE too - but procrastinated and when the price went up i decided against -
Well done to holders - hoped they came out with profit
Yes, RRE was a well run company.
Thinking about it : The reason I didn't invest is because their share price was quite high at that moment in time.
So the maximum upside I could see was x2 (~£1000 -> previous high of £2000).
As it happens they got taken over at £1800 / share - which some share holders are complaining is cheap.
Not least given the company was set up specifically for low oil price environment.
Looks like their board folded at first offer. The offer price is less than cash in bank.
Though RRE did have £300 million in decommissioning costs hanging over their head (for market cap of £240 million).
If HUR release positive production news then we should also see a +100% re-rate here.
haggis_trap - I had similar thoughts, when Longwait used to mention them.... as you say, hindsight is like golf.
Easy to learn, hard to play..
RRE been taken over!
Hence the rise....
Good on them.
I am almost sold 50% here a few months ago to put into RRE.
Wishing I had now. Would have helped reduce the loss here.
However easy to be wise with hindsight.
Rockrose up 62% !