Open Orphan pharma spin-out Poolbeg Pharma present at London South East's October live event. Watch the full video 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 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.
Thanks Agadem. Probably time to take a break and see what next week brings. If AK is right about hoping to provide a chunky update in October there are only 5 working days to wait anyway.
I have no idea what he’s saying now but he’s just done another live video. And he does not seem any happier than the other day.
The photos he send me were very poor quality and the app you kindly sent me IZ could not read them. I think he must have one of the 1st camera phones, something like a Nokia 7650 or similar.
Anyway, on closer inspection of the letters on ESSO headed paper they are from 5/10 (not 25th as I first thought) & 7/10. Ive typed some of the key bullet points in to a translator but they are just things that we already know, 3 months payment and all that stuff.
So in summary there is nothing new in the letters that we’ve not already read on here.
I’ve sent my friend a few more questions and will post on here if he comes back to me.
In the mean time - back to the patient wait!
Thank you, hubenstein. Schoolboy giggles all round!
CYB - your contribution is of the highest class, especially today! That fun fact will stay with me!
I don’t know what his role is, although I have asked that as a last question and waiting to see if he replies but he did sign off with this:-
I have no more information but I want them to settle the differences in peace and with a good understanding.
Has now come back to me and sent me a photo of a letter dated 7th October. I think this one may be in regard to the 3 line whip being sent to the employees and the site being shut down with production halted.
He’s also sent me a copy of another letter (3pages of very small print) and this is dated 25th October (Monday). I have no idea what this lot says or means so I’m going to have to print it out later and type it all in to a French to English translation.
I’ll get this done as soon as I can but have to go out now to meet some relatives at the Monkey Forest by Trentham Gardens - oh the joys.
And when they initiate a dividend payment, hopefully soon, even more people will hold for longer. I can not possibly think of any better stock that could offer both capital growth AND a progressive distribution.
NB I don’t think my new friend in Chad likes my second string of questions - he’s gone AWOL
Agadem, I think all of that is entirely plausible and has been pretty much my thinking of what could happen here if all the ducks are lined up, C/C, refinance, Niger, new Accugas customers, new II's wanting to buy in. If we get news on all of those in the next chunky update, and I don't see why that is not feasible, then this could be a bit of a wild ride in the short term. Maybe I'm being overoptimistic in terms of timescales, but when you read Zengas' posts about potential value in these assets it's hard to argue against.
IZ - I know you’ll think I’m completely in Cookoo land but I do have an aspirational wish (dream) and here it is.
We currently have just short of 1bn shares issued and circa 70% are held by long-term II’s and AK. Now I expect up to a maximum of 300m shares to be issued as part of the deal. I would strongly assume that they will be issued at a very much higher price than 19p (hopefully over 50p) and would go to an existing / new II. Additionally AK has also said that some of the existing II’s are keen to add from the current 300m not in II / AK’s hands.
So if we go to total shares issued 1.3bn of which 700m already in tight fists, the new 300m going to tight fists and some of the current 300m being held long term - liquidity might, just might get a bit tight. Ie if the vast majority of shares are not up for sale, the traders could be fighting for the small pot of shares. So when they arrive they would be driving the price up for everybody.
Finally, I’d be EXTREMELY surprised (given my envisaged situation) if we saw a bunch of people trying to short this stock.
cyb - ABSOLUTELY agree that it’s vitally important to keep this board as genuine and informative as we possibly can. We will get a bunch of new posters when we list again but as cyb so rightly says DO NOT engage with them. Their tactics simply don’t work if they do not have replies to feed off.
Yes, there are some great posters on this board and when the fools arrive, I won’t be engaging with them. Every now and again I’ll just post to refer any genuine new people to take 30 minutes and read comprehensively through Z’s posting history.
Coming back to the chap in the video, I’ve looked in to him a bit and he seems to HATE every aspect of the current government. I don’t know if he is part of an opposition party of a very militant union man, but NOTHING seems to make him happy.
The one positive I take from his reply to me was when he says:- “before the finalisation of the sale”! Whatever the language / translation, that does seem to me as he expects the sale to complete.
Thanks cyb. Yes, the downside of this doing well could be, as you say, the influx of the herd. However, I think things have changed over the last year or so on AIM and the herd tend to be focused more on bitcoin, fintech and pharma these days. Hopefully SAVE will be too big a beast once this is complete to interest the herd and we can keep things on this board as they are without it becoming the type of low intelligent, abusive forums that you see on other stocks.
Ditto re top posters in the form of Zen, Agadem and IZ. And others. This is undoubtedly one of the best boards on LSE.
Sadly, it will soon become full of those that you describe or maybe not…here’s hoping.
I notice a log of articles in the likes of The Economist pointing out that natural gas is the best of the fossil fuels in terms of carbon footprint. And further that we will have to rely on it for at least two decades more. Whilst we would all wish for a carbon neutral world that is not yet a reality. I therefore believe natural gas will be considered an investment opportunity again.
That's because I believe he is probably speaking in Hausa, within which there does appear to be the odd French word. I suppose when addressing the natives he believes it prudent to speak their native lingo. It's akin to speaking Provencal in the S of France or Breton in the NW.
If anyone has some French script that they need translating, post it up and I'll oblige.
...to all the great posters on this board through this process, and in particular ZENGAS, Agadem and Interzone. I only wish that my few posts could’ve been as informative as most of yours, all of you.
Savour these days, everyone: the board will soon be awash with the usual cretins going on about rampers, derampers, head-and-shoulders and double-top patterns (charts for small-cap shares, good grief), market-maker games, evil shorters, “it’s going to blow”, “BOOM”. I implore you all not to engage with them but to simply filter them.
My fun fact of the day is that the airfield at Doba is called “Dildo”. Sorry not to have anything of higher quality to share today.
Claire Joseph - Exxon’s internal communications specialist.
Hi all - I messaged the guy in the video yesterday and he just replied in French. Please see below a Google translation of the 3 messages he sent back which I’ve tried to piece together to make as much sense as possible. I’m sending a few more bits back to him to see if I can drill in to the actual situation a bit more. BTW, does anybody know who Claire is?
Hello Not yet there are problems between the employees of Esso who claim their rights before the finalization of the sale so until then they do not agree on the rights. The employees are on strike to repeat and the management has promoted the resumption of Productions on Monday, October 25 with or without the employees. If no objections except as usual Esso employees want to see Claire.
Thanks Warno. Can’t imagine it’s anything we don’t know anyway, but thanks for trying.
I'm fluent in French and the accent is so strong that I can't understand it at all. I get about 1 word in 10.
Lol, my thoughts exactly SR!!
Well it's either chat or watch Arsenal ;-)
Hopefully we all have a lot to discuss and digest next week. Couple of chunky updates suggests it's not only going to be about Chad/Cameroon so may get something next week even if the C/C deal doesn't complete. Would be nice to get the sp higher to help remove the daily movement stress factor, but happy with where I am with this. Have a good weekend!
Brilliant plan and I’m sure it will work out for you. Yes this has been an extremely painful journey do date. As you know I started to buy and add around the 40’s and from day 1 was in the red. As it continued to drop, I continued to buy and average down. The SP continued to drop to about 12p and then we rose to about 28p. I was sure we were then on the way to surpass IPO price of 56p. Oh no, how wrong I was, we dropped and dropped and dropped some more. This was extremely painful and I came very close to cashing in on many many occasions. But no, silly me, I continued to add at prices down around the 7p’s.
I got my average to the mid teens and still continued to buy as it went back up. I think the one bit of luck I have had here was to buy quite a lot on 1st June, the day before suspension. It was very hard to buy and I had to break down in to multiple buys iPod between 17k and 20k shares. At 19p I am very very healthily in profit and I hope never to see red on my sheet again.
No I’m not going to get in to how many shares I’ve got again as I agree, that’s not right. All I will say is that it is definitely squeaky bum time for me every time the SP moves up or down a penny and I’m hoping to see 5-10p movements very very soon.
Right, I’ll try and leave you beauties alone for the weekend unless people fancy getting in to a bit of a chat. Have a fab weekend and I suppose it’s quite appropriate to say:-
We all have different reasons for investing and different life situations that dictate how and how much we invest. My reason is simply to provide some financial security for my kids which they would probably never otherwise dur to various circumstances. In lots of ways, no matter how much research you do we're all subject to the same vagaries of the risk and reward conundrum. I invested in SAVP after the completion of the 7 transaction as I wanted a company with producing assets rather than an exploration company. Seeing my investment shrink monthly was difficult and annoying but was convinced I'd made a good decision so continued to average down believing that this would come good in the long term. Hopefully on the cusp of making enough to set the kids up and then I can buy myself a little woodland retreat (no kids allowed other than visiting) and enjoy a bit of nature. That's the plan anyway :-)
Not sure anyone can give a definitive answer O&W. The 7 transaction took longer than 6 months without any notified extension, IR have replied to Agadem stating it would have to delist, and my reading of the AIM rules doesn’t suggest the 6 month rule applies, other than to shell companies. Would be nice to understand the true position but suspect well just have to wait and see what happens.