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:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
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 and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. 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.
munchbox, The sp has been at this relative level for the last 3 months now, (closing prices for Mar/Apr/May have been 7.54/7.54/7.30) so the regular daily declines stopped in March. I'd be sceptical MM's are holding such large amounts of stock personally given some of the daily volumes , so we shall have to agree to differ on that. You are right that something has to give at some point. Hopefully it won't still be dragging on after the 24th.
Interzone. I think a more realistic assumption is someone agreed to sell millions n minions of shares when the sp was higher , hence agreeing a bottom price along the way with achieving slightly higher prices as pi get sucked in to buying when all along someone was selling. I don’t agree that something more is happening, I believe the mms are just loading up stock and that nobody else has stepped in to buy the shares hence the continuous regular daily declines irrelevant to what the market does on the day. Also the lack of director buying is very annoying and worrying but maybe they just broke and don’t have the personal £££ to invest. Either way something has to give here. I have been moaning for weeks why seplat was not moving and even that dog had gone from 57p to 64p in the last few days and they also Nigerian main assets based. The reason I’m still holding is NOTHING has gone AKs way ever since that suspension ...... let’s hope he gets ONE thing right ..... but time is running out for him.
Snaffleman, I agree that II's holding doesn't necessarily mean all must be well, and it would be foolish to discount the possibility that PI's are being hoodwinked, though my personal opinion is that is not the case. I'm hoping we at least get some clarity on the 24th, hopefully with an up to date statement on the cash position alongside the full year results. There does seem to be a large transfer of stock going on at the moment, rather than just a one way selling operation, which suggests to me it's something more than people in the know offloading.
Interzone I do not believe based on what we have been told and in the absence of any TR1s that there is any significant Insti selling. That however does not always save you. There was no Insti selling when SDX fell from 50p ish to 20p. I also remember that during the GKP decline from 4.50 to 0.01 that many instis held all the way down. I believe it is a mistake to believe that all is well based on lack Instis selling. What has been significant here and with many other o&g players the diabolical market sentiment which is slowly changing as others move north. I hope our time will come
Snaffleman, don't know too much about SDX but there's hardly been endless good news here so not sure that particular comparison is valid. As far as we know all the II's are holding - certainly based on the figures at the end of April and no holdings RNS's - unless you are suggesting they are selling and not publicising that fact?
Snaffleman. Your the type of poster I really enjoy. Your honesty is what I look for and this is what I have been banging in about here. I bought for a spike and short term profits bevause I’ve been lucky elsewhere recently n put some profits in here. I absolutely boggles my mind but I will let it stay boggled. Worth the risk here. Just. Also some nice hefty buys early today. If there is no movement all of next week I feel the market and oil could run out of steam. Might have to exit here n call it a day with AK.
One final point I remember when I held sdx the sp fell very significantly despite endless good news and never moved north nobody on the billboard could work out why. Not unsimilar to here atm. The reason eventually became clear. The CEO Paul Welsh had been on every platform available malky, vox etc lying through his teeth that they were on schedule for an increase to 8000 bpd and all was well in the world. When the results were eventually published the reality was just under 4000 bpd. It became clear that the boys in the city knew all along but us PIs were fed lies via the usual suspects. I think AK believes he is caught between a rock and a hard place. The perceived lack of transparency is killing us and we need to establish trust. How much worse can it get. Munchbox thinks 4p and if I was to say 6p is there any real difference looking at the bigger picture.
Munchbox I personally feel your possible 30 million valuation is a bit on the pessimistic side. Then again if you had speculated 7.5p from 28p a year or so ago I would have thought you were being perverse so what do I know. I lost a lot of money in that drop.
We did receive 44 million from aim for 20% of accugas and uqqo. That would mean the rest of the assets less debt would valued at minus 14 million . It would appear that traditional methods for the market to assign value to o&g companies are out of the window they now seem to make it up as they see fit. Look at Rockrose at one point trading at half cash and it is a sound well run company. Or the difference between union Jack and reabold based on assets. One is either overvalued or the other undervalued. Doing research and investing in fundamentals seems to be no longer effe cive at the moment.
Lanpb. I’ve always been shot down when posting negative about save but you make valid points. Really good to see zengas post a more balanced view that outlines the possible negatives. I’ve taken a punt here but feel uncomfortable each day I hold but the reason I do hold is if all The **** hits a Nigerian fan then I still see these valuer at £30m or around 4p. So a entry at 7s is ok I guess. Get it right and these will blow past 12 and settle 15s very quickly. So it’s -50% or +100%. Take your pick.