The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo 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.
are showing as sells.
but have they got the cash to fund it? Will it require a placing? If not could see a nice rise in price.
Yes they will have. And its on the cards for late summer IMO.
Antrim agree a date with kosmos for when this has to be drilled by?
Usual jam tomorrow and the new strategy of let someone else do the work. It may come good before the cash runs out but not due to the managements efforts. Fyne does not sound like it is moving and skelig waiting on kosmos. Given the oil price one would think the offshore activity will take a while to progress. With hind sight they were. right about the commodity swap hedging but the timing was out by a year which has really destroyed value. Combined with the bad luck on the drills in the past they really are taking the mickey running up the general expenses. Hard to see how they could buy and develop an asset prior to further reduction in skelig interest. I would not vote to re elect anyone on the board. I still hold my original destroyed investment here.
If I am reading. The report correctly annual. Cash burn is 4 mill and the abandonment costs similar so by year end the strong cash position will be sweet fa.
It was hardly a good deal at the time for Antrim, SOU valued the company at £6.3m when there was double that in cash in the bank.
It's almost too tragic for words. Sound Oil are growing, eventually to mid-cap status. We have dynamic management & some great assets - hense our ongoing rise in price. But we needed more cash than we have to grow our business. AEY, with their capital reserves, & Sound Oil, with their management & portfolio, would have been a marriage made in heaven. Now Sound have raised money through other means & are progressing.......but it could have been easier & more beneficial for both sets of investors............... Crude
Some decent buys coming, hopefully head back to were it should be! 10m in the bank, how its this low i dont know!
Or the fact we have £10m in the bank and are currently valued at £3.5m !!! I've made my feelings clear here and have been massively topping up while this SP is so crazy low. This is going up :-)
happening here!!!!!! Could it be the new Kosmos drilling programme ive been hearing rumour of?
cashed in at 20p have lost a 10% plus rise and poor AEY holders are holding shares at 1.88p which would be worth 7.15p today. Keep the faith!
why hire a director?
Dr Remmington, no offence meant - but who knows if Sound won't put in another offer. This deal isn't dead yet necessarily. Your cash & our assets still makes sense..............but maybe your Board have other, more dynamic ideas? As an AEY shareholder you've got to hope so eh........................... Crude
Deals long gone, are you so bitter you have to try and bring aey holders down, stick to sounds board
Not much happening here............since that Sou/AEY deal fell through Sound have doubled in value! Crude - still, daresay the Canadian Chiefs have something exciting lined up for AEY shareholders............................
Is dead. Is the company also?
I see your point and it's been made many time on here. Shareholders did not get the option to accept any deal from SOU!!! The price is no 1.75 and should be nearer 5p! Very disgruntled share holder )-: however just got to hope the management is doing something and today's announcement could be the start
Stew, just making a general point from luckyman's seemingly laconic post. I think most of us suspect that Antrim may have made one of the worst decisions for their shareholders - ever. Time will tell of course - but it's not looking crash hot at the moment. Off-shore crude (with hardly any assets) doesn't compare to on-shore gas (with plenty of assets) commanding high prices.................still they have got all that cash burning a hole in their pockets! Crude
I accepted the offer from SOU? What is the point in posting that ?
Well said luckyman - but you cannot say we didn't warn you guys. Sound Oil are a dynamic company with an exciting portfolio & investors & analysts are talking about us - we're even nominated for an industry award! Just think what could be achieved with your cash & our assets......... Crude
new appointment
Management rejected sound oil's offer as they had our best interest's at heart. Another good decision by the Board.
so we would be worth nearly 5p now ? With SOU !!
Antrim shares would be worth 4.6p currently if Antrim and Sound had combined forces. Oh well, I guess it wasn't meant to be. Good luck, hope you find the Oil off Ireland. Would be great for their economy, and ultimately, ours.