The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
Interesting, very interesting!
18:20
Stockraiser - that's odd, you didn't mention you wished one word answers when you posed the questions directly to me. Rude or just forgetful?
That's all very well Scot, but what prompts your strong reaction today? Q1 Report
Did you find this mornings RNS negative? Yep - see my posts on cash and insolvency.
Do you really think 88E are bust? Will be by end of June unless Burgundy ponies up (they won't IMO) or the company raises fresh equity capital.
Can you see any positives? Superficially, I quite like the look of Leonis but I am not armed with sufficient info to make a definitive judgement. Other Alaskan assets are stranded or low quality. Texas is lame and underperforming massively. Namibia - too early to say, they haven't even shot the 2D seismic yet.
TIA SR
Scot - you're not a politician are you?
Yes/no answers are quite acceptable to my post timed 1734hrs.
GLSR
17:34
Hi again Stockraiser - ok, your question is in earnest. Best idea, IMO, is to click on my username and you can read my reaction to the recent flow test results and the implications for 88E as an investment. It's also worth clicking on olderwiser's username and reading his posts.
If you wish a comprehensive picture of what I have researched and analysed then keep going back a few weeks. My message has been entirely consistent. Best.
That's all very well Scot, but what prompts your strong reaction today?
Did you find this mornings RNS negative?
Do you really think 88E are bust?
Can you see any positives?
TIA SR
09:27
Fact check for Sharebel? False, big lie, massive lie.
As pointed out correctly by Tuffers, this post contains two huge lies. Sharebel states that 88E has made two "COMMERCIAL OIL DISCOVERIES".
This is a lie. Read the RNSs which describe the flow test results. Read the slide pack. Read the Q1 Report. At no point does 88E state that they assess the discoveries as being "commercial".
Buy/sell/hold 88Ebut please do not base your decisions on the content in this post timed at 09:27 today.
Sharebel goes on to allege his usual fantasy about market makers conspiring to damage 88E. Made up conspiratorial nonsense.
09:56
"Paul Basinski let slip in 2016 that they know they have no prospect of commercial oil in North Alaska as the majors have already crawled all over it and bled it dry"
So COPL at new developments (Willow, Kupurak River), Santos (Pikka, Quokka), Bill Armstrong & Repsol (NSE 6 drill programme) and PANR are all wasting their time and their independent resource reports are worthless.
Not sure when Paul Basinski ever said that there was no chance of commercial oil and that the majors had sucked it all up, he was fixed on unconventional source rock oil and believed that was where the really BIG commercial volumes would be achieved but I do not remember him saying that precluded conventional oil.
Ed Duncan stated “The easy conventional oil on the North Slope has been found" and he believed shale oil presented the best opportunity for oil in 2011 but that was prior GBP shooting their 3D and initial drills, subsequently they changed their strategy.
https://freerepublic.com/focus/f-news/2684401/posts
Toffers I, unlike you am an investor here, I don't need to have been anywhere or seen anything, sure this is a long bet like all exploration but I would be foolish to be out once the odds start to turn in my favour, good luck to you but I still don't know why you care if your don't hold shares :-)
Were you at The Globe in 2016 Ayecuramba? of course you weren't, you're just another pumper and dumper.
Got out but still fighting the good fight to warn off others, what a good samaritan :-)
And there's Sharebel leading the pump and dump squad! Never ever changes.
Sharebel, you say "2nd commerical oil discovery", please point to me where it says it is a "commercial oil discovery" anywhere? It states "Commercialisation options to be advanced in parallel, including farm-out to a strategic development partner and/or early, capital-lite production, given proximate infrastructure advantages (Hickory-1 next to Dalton Highway and Trans-Alaskan Pipeline System (TAPS))." which is a totally different scenario.
Paul Basinski let slip in 2016 that they know they have no prospect of commercial oil in North Alaska as the majors have already crawled all over it and bled it dry. There's nothing there. A thimble full, or rather a glass test tube with some black treacle in is nothing, how do you know it's even real? this is the problem when everyone wants to believe the fairytale and doesn't start asking questions about the actual truth. How much money is it going to cost for them to produce nothing? How many more shares will there be flooded on to the open market? It's another aim failure that's producing fat cat salaries all for very little, or as someone else very succinctly put it, it's a lifestyle company, and that perfectly sums it up. 8 years and nothing and yet people still suck in newbie investors who won't understand the history.
My views, but people need to start asking proper questions of the company, what further expenditure do they envisage over the next 1-5 years (for producing nothing), how many more shares are they going to flood on to the market, diluting existing shareholders to the very bottom of nothing, why don't the directors give up their salaries in lieu of shares instead to show solidarity with shareholders? it's a never ending piece of string this one, just like all the others that have de-listed in the end!
My views of course, but I was in this shambolic share long ago and glad I got out when I did.
The ‘ market’ is clearly being manipulated the tiny trades being ‘sold’ to play with it have been consistent. All noted. Pennies worth of stock being consitently sold for under the bid price etc reveal whats really going on here!
We have had in last two weeks
1ST COMMERCIAL OIL DISCOVERY- SP quite rightly in normal market conditions reacting to 45
Then pulled back with profit takers from previous lows out then SP began to be manipulated hovering average around 33/34 mark eventually over nearly 2 weeks
2nd COMMERCIAL OIL DISCOVERY announced opens at 33 v 35 then within 45 mins dragged down to 24 v 25 then back and forth worked down over next day to 20 v 22
Following day robust positive INVESTOR PRESENTATION but MM worked am to 19.50 (12 month low) would you believe then was ‘hovered’ all day between 20 v 21
Today a robust and very posituve COMPANY UPDATE with commercial overview of where company is at again played with to sit 20 v 22 currently with constant tiny penny trade sells.
WHY?
REASON
Tiny constant trades of pennies being sold below the bid price to effect it and any normal sized buys not seemingly affecting the price as its constantly on a swithcaroo. We’ve had a deluge of 24/7 negative stupid posters boiler room crew with their 4 barrel nonsense, lies about the company and BOD on repeat. All of this is noted and a reminder for the perpetrators here trying to tell us to sell up (the fund needs to close their short now) all documented. This is market abuse by ii shorters. Heres an extract eg of market abuse ref tiny penny trades!
From FCA Market Abuse rules
‘3) entering small orders into an electronic trading system, at prices which are higher than the previous bid or lower than the previous offer, in order to move the price of the qualifying investment, other than for legitimate reasons;‘
So how much longer do they believe they can get away with this and the MM involved? It may well be that they’ve got wind of investment coming in here at a much higher level and THIS is the reason for their panic and 24/7 attack here.for eg Naked shorting is outlawed in UK but I believe not in Oz ! Short squeeze on the horizon! IMHO DYOR
"Sadly the market has not reacted in a positive way so far."
its just placing the groundwork, everyone knows there will be a raise at some point, it is only this holding back the price, the next raise may be the first one where on completion the price goes up, lets see.
Sadly the market has not reacted in a positive way so far. :(
Good update. Only the shorters think it’s bad (obviously!)
You are not listening Munnie, real money in the bank to cover 75% of the outstanding 80%, Burgundy pay the other 25%. Still change to cover Namibia due in June, and still receiving income from Texas.
Perhaps the PANR crew should look to their own stock where they had to produce their last interim accounts as a going concern due to the auditors note relating to a, 'material uncertainly'. Indeed, you can read my post on the Panr forum this morning if you like. highlighting Older's obvious concern, so of course he raised this to the panr board, just like he warned them about buying in at 130p, but oops I forgot, he only warns 88e shareholders of potential issues.
Not positive in the slightest. How will they pay for the drilling costs accrued.... exactly, a capital raise. 88 are ostensibly broke. And a 'formal farm out process' means nothing at this stage. Just more smoke and mirrors and jam tomorrow rns writing. Hence no movement in sp. Proofs right there. SP lowest point in last few years...
We should know soon what the market thinks of this mornings RNS.
Let us hope it is positive and this starts to recover.