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Https://www.youtube.com/watch?v=uESpduV_Vzo
Investor Meet recording
Todays reaction on the investor meeting can only be in response to HH.
He has zero skills on communicating with shareholders....that said with very little free float we can see how quickly this could turn around northbound given a decent production deal! 48 trades today 10% down LOL
Revenues from the initial production deal will more than cover the G&A. Finance in place for further acquisitions. I will be adding more.
Dont forget that LBE will have 6M once the production deal closes. Nowhere near having to raise cash and not likely to....ever.
Come on boys get a grip
Agree Gazelle, been here for a long time, keep seeing G&A balloon. This seems to be more of a pension scheme for Helge and co. rather than a company.
Helge knows how to treat his friends. It needs shareholder pressure.
This was a lifestyle company until Helge hit lucky with the Japex deal. Further funding for cash is safely now looking like another share raise imo.
I wonder what the bonuses will be for this year?
Cutting costs? G&A was 4.5M in that CFO slide pack & don't forget 2 new Execs in Malasia to add to costs...
Quite here after that Helge ‘clanger’ RNS.
I can’t see them monetising any of the stranded minority interest puddles Helge punted on. But the Japex deal is promising.
Problem at the moment is the high oil price, Helge wouldn’t transact before- wait for the excuses in the presentation. This is like being on a roundabout.
Back to the start again.
Hopefully a deal with Japex to supply cash up front.
Now Japex are involved Helge should be cutting costs and shedding some of the entourage here- make use of the Japex expertise.
Very positive - with excellent progress.
(; ̄ー ̄A
C£10m
Is left now?
Helge and his entourage aren't cheap. Good job they can create value…
Haha, idiot
Drifts back to 12p until further news imho
Japex deal is the only thing with LBE of any interest , the BOD need to prove they can actually do exploration.
Although a big find has not come in this time the fact that the main risk (reservoir quality) has turned out positive is a good opportunity to assess other targets in this licence and LBE could still celebrate a commercial discovery on the next drill.
“the license contains numerous other prospects which have been derisked by the presence of gas in good quality reservoir in the Velocette well," Longboat JAPEX Norge said.
"The remaining prospectivity has significant size potential in multiple structures”
Share price is still very cheap at these levels IMO.
That needs to be our focus, lets stop chasing rainbows and spend the 100M wisely
Real shame on Velocette (mainly with regards to the additional cash payment from JAPEX)
As mentioned previously though, here for the acquisitions. LBE can’t seem to get it right with regards to exploration, either the gas is there and the reservoir is poor or the reservoir is good but the gas isn’t there. Time to move on and leave it for the big boys.
Velocette result disappointing. However JAPEX deal (£100 million finance) means that this still has potential to multibag in next 6 months. A small drop in share price inevitable. However today's price (23p) basically covers the small production deal and nothing more. Definitely a time to hold
It is a shame. It was worth a lot to the company if it came in.
Prepare for a lot of waffle from Helge now, it's the best thing since sliced bread etc etc etc
Look at the history of the other drills, same story unfortunately.
Been here a long time.
I feel sorry for those ramped in from the pay ‘for hindsight’ blog and their ramp/de-ramp crew. A lot more user names once that charlatan started a pump.
You’ll find ‘he’, likely, had sold out after telling the faithful to buy so ‘he’ can offload the shares. Correct me if i’m wrong. All the signs were there.
Still got the Japex deal.
Meh : not the result we hoped for. Though I would argue success at Vellocettte was not priced into share price. The £100 million finance facility remains good reason to remain invested (plus other irons in fire)
Real shame
C60 days, news v soon
Hi guys. Quick question, does anyone know how long its going to take to drill Velocette
Also a small benefit but 600 STB of production should be heading to LBE in due course.
10k for a top up. If Vellocett doesn't identify reservoir or commercial gas then I'll get a very good price to watch the story unfold here on acquisitions over the next 18 months. If we do find decent commercial gas play, then I'll top up on anticipation of development or an asset swap.
When has the market ever indicated anything correctly lol.
On Velocette though, no idea. Time will tell. But in the words of Peter lynch, if you have a company that you understand and can see the picture emerging, forget what the market thinks. $150 million financing and assets for sale means revenues will grow and there is a direct correlation between revenue and share price ;)