Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Billybamboozle - why not we are so undervalued here, super major on board at OFF 1 with OFF 3 to come. Uruguay surrounded in majors and us. Zeus predicts 7.5p on OFF-1 find and this does not include any work on OFF 3.
GREAT TIMES to come.
I can't believe it. My first visit to this board in many years. and wilec is still here spouting total utter b0ll0x.
wilec looking at a 3,746% increase to 5p.
Im gone again.
Go and curl up, Willec!
Totally agree MadEnglish. Few points
1) Why would Chervon partner us if we were going 'to the dogs'.
2) How can we be worse off with a major assisting us and an extra $12.5m cash and fully carrying most of the 3D and drill, whilst keeping 40%
3) Zeus say risk is 0.54p - fully derisk and discovery at OFF-1 would equally 7.5p per share, before even starting OFF-3.
4) mean basis over 2bn barrels OFF-1
https://zeuscapital.co.uk/exclusives/4084814512/
Willec, they're on every AIM board. I don't get it either. DYOR, put your money down or walk away. Live with your choice. Simple.
GLA.
JohnBriggs - why are you so negative?
Not many juniors have 2 blocks in a safe country where oil is already seeping and surrounded by major with a Super Major on board who is going to pay for the majority of the costs through to drill.
Chervon would not have come in if they were not going to eventually drill.
2025 LOL. You do crack me up, Willec. You'll be here until the day this dog folds- still claiming jam tomorrow.
The Seller was mentiones today - what about the buys also.
It looks very much like, due to the steadiness of the sp the sells are the final piece to fill the gap before the sp takes the next leg up.
Why sell when 3D is coming early 2025? and then drills a more than likely. More than happy to wait for my 5p target then re evaluate.
Probably Bilbo LOL, or Willec, he's been very quiet this past week...
Anyway....
Who is the seller?
As usual completely missing the point JB. The point is it has been possible to obtain a 5 or 6 bagger on this share in the very recent past without buying near the bottom or selling near the top, but lets be honest you don't want to hear or acknowledge anything remotely positive when it comes to this share do you. I suspect that anybody buying in at current prices will be able to repeat this over the next 12 to 18 months. I may be wrong or a may be correct, time will tell. You are very transparent and very funny, wrong but funny.
I think you could make the same observation to yourself - a rarer trade than a hen's tooth!
You are wrong, there were trades at those prices. The problem wasn't selling on the day of the RNS, that was easy, the problem was trying to buy. I personally couldn't trade online, I needed to phone the broker and it took them quite some time to fill the order. Don't let facts get in the way of a good story JB.
But I'm not wrong, am I? It's a fantasy scenario you're describing - no one was able to sell on opening of the Chevron RNS.
Thanks for admitting you were wrong, very decent of you!
You're just making up fantasy scenarios of someone buying at the very bottom and selling at the moment it spiked - just totally misleading
I suspect that was aimed at me JB and as usual you are incorrect. The 52 week high was 0.029, easy to verify or can't you do research?
"Could have walked away with an eight-bagger"... now you are just making things up. It spiked at 0.20 momentarily on the Chevron RNS and no one was able to sell and then it quickly retraced to 0.15, so please stop with your misleading nonsense, Tobin.
I don't like the term gambling, though there is a large element of "chance". This is investing albeit high risk and possibility of losing most of your investment.
CEG may not "strike oil" (or gas") but it could have a 2billion barrel field, or maybe more than one. That sort of field could deliver $billions.
Assessing the risk and putting a price on it is difficult. The deal with Chevron tends to indicate that at the present price CEG is under valued. Chevron may be wrong but buying in at these prices you are in good company.
GG, you seem to have answered your own question in your last two posts. This share is not suitable for small retail investors who can't afford the loses, as you say it is a gamble not really an "investment". Whilst I have sympathy and empathy for many people who have suffered loses the truth is that many of these "investors" didn't do their homework and seemed to believe that it was a get rich quick scheme. This is and has always been a very high risk, potentially high reward company. Most small retail investors shouldn't be on AIM full stop never mind the O&G sector that is many times more risky. Along with you I hope that this is a success, time will tell. Some people will recover some money, some people will make a lot of money ( don't forget that between Oct 23 and March 24 some holders could have walked away with an 8 bagger) and some people will likely lose a lot of money because as per the Bahama's they will forget to sell!
Incendros—My final comment is that I want CEG to find oil and lots of it in Uruguay, as my friends and I have many shares. However, I would add extreme caution to new investors as this is a very high-risk share, and the continual ramping of this share can be dangerous to retail investors who cannot afford to lose their hard-earned monies. I would politely suggest those posters on this bulletin board who continually ramp this share take a more measured point of view. The likelihood is we won't find oil, that's just this industry, but there are promising signs and CEG could hit it big. It is not an investment buying these shares its a gamble and let's hope it pays off for all of us : GG
Hear, hear, LTID ... far too many willing to buy the "they got lucky" story... looking forward to seeing how this next charade develops...
I've had an interest in Leni gas & oil, LGO, CERP, BPC, CEG, since they were operating in Spain around 2003. And I've had enough Bullsh*t from the likes of Lenigas, Ritson, Koot, & Potter,
BEWARE OF THIS LIFESTYLE COMPANY
By NEIL HARTNELL
#Tribune Business Editor
#nhartnell@tribunemedia.net
#A BAHAMAS-based oil explorer has received "a great endorsement" from independent experts who confirmed its chances of success are at least four times' higher than the industry average.
#Simon Potter, Bahamas Petroleum Company's (BPC) chief executive, told Tribune Business that confirmation of the validity of its underwater seismic data "can only be positive" for its joint venture partner search.
#The exploration outfit, whose licence gives it until April 2018 to spud its first exploratory well in waters south-west of Andros, hired Moyes & Co, a petroleum industry consultancy, in August 2017 to assess its prospects of striking 'black gold' in Bahamian waters.The independent analysis, just unveiled by BPC, calculated the company's "probability of success" for each of the seabed oil sources it is targeting as between 25 per cent to 35 per cent.
#Mr Potter said this far exceeded the oil industry's typical 5-10 per cent average, with Moyes & Co verifying that the amount of oil economically recoverable from BPC's southern Bahamian licence fields ranges from a mean of 8.3 billion barrels to "an upside" of 28 billion barrels.
#The consultants' technical audit of BPC's seismic data, and the company's interpretations of such, also confirmed the oil explorer's belief that the project can be economically viable with a field of just 200 million barrels.
#"Moyes independently calculated the probability of success (PoS) factors for each of the major reservoirs assessed, the majority of which were calculated in the 25 to 35 per cent range," BPC said of the consultants' findings. "Though a few are risked at 12-15 per cent.
#"Applying a recovery factor in the range of 20 per cent to 40 per cent to the Moyes [economically recoverable] volumes would result in an unrisked Estimated Ultimate Recoverable (EUR) in the range of 1.6 billion to 3.3 billion barrels (mean), and up to 11 billion barrels (upside)."
#Mr Potter told Tribune Business: "We've always been very excited by the project, and it's very large and of a global scale, but to have independent and technical experts endorse our own numbers is great.
#"It's very reassuring for us, and a great endorsement of the technical work we've done and the work we've asked them to do on our behalf. The economic threshold for a commercial development is somewhere below 200 million barrels, when the oil industry is average is 500 million to one billion barrels.
#"The audit confirms we can be commercial and viable below 200 million barrels, and the technical experts have endorsed multiple thousands of millions of barrels, not just 200 million."
#Mr Potter acknowledged that "the numbers can be eye-watering at times", but also pointed to Moyes & Co's assessment of BPC's drilling success prospects as far higher than the global oil industry's average.
#"They also said the probability of success is between 25 per cent a