Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Serif,I'll join you in an accumulatior there
Presumably in some final draft form which the JV partners can then approve and sign off for publication after the vote on 3rd July. The important part of their getting this preview is that it should enable them to finalise decisions about drilling sequence and so get the planning request in pronto.
If we go by the last Europa presentation that the CPR would be handed over to the partners in two weeks!
Another month for the public to see it.
IMHO
Going down to the top up zone...
He has had the opportunity to buy nearer a penny, if he was averaging..
@Biggleswerf. Yes had thought about WA pound cost averaging, but you can’t sell anything like the shares WA has on a “small uplift” - just look at how a “small” 500k sale triggered the fall today - it becomes in effect illiquid. I suspect with increasing that scale of shareholding he would have to be looking for a massive sustained rise to sell into (still probably slow and painful disposal) or for someone to take the lot off him whether a buy out, ii buy in or whatever. So IMO he needs to be backing the share to become hot enough to attract this sort of interest if he is even to get the money back on his latest purchase - not to mention the 37m higher priced shares he already held! So I read it as a very strong positive indicator - while recognising of course that he too may have “got it wrong”!
Well said Serif who knows. These opportunities can materialise out of not a lot sometimes. The recent ex director purchases are good sign as they must have the inside scoop but they must have lost a fair amount in recent times but they maybe cost averaging like we all do and any small uplift may encourage them to sell into a profit/ breaking even/ taking less of a loss. I await the outcomes with high hopes as I have done for the past 12 years, I’m never expecting to get all of my money back, but some of it would be nice. Anyone buying in at the current sp I think are on to a winner.
Across the boards I’ve read claims that
- Wressle will/won’t move the needle
- Serenity will/won’t happen
- Ireland is a company maker/dead duck
- x will/won’t want to buy us out
As they all seem in with a shout - I don’t know who’s guessing right. Personally I’m hoping for the accumulator jackpot or failing that a Wressle triggered buy out end of this year, once last hope in Ireland is extinguished.
Takeover at 5p would put me right back where I started. So not for me. Still holding for Inishkea. With Barry roe being blocked this has to be Irelands only chance of securing a reliable domestic gas supply.
With the new CPR 4/5p maybe cheap!
IMHO
Ripe for a takeover here the cpr will be interesting. Other board mentions serenity being a dead rubber and I have the opinion to agree. The ducks are still far from in a row when it comes to Ireland while the ‘keep it in the ground’ crew are still there. Wressle remains the interesting part gla
Serif ,correct multibagger med/long term imho
Well I don’t think it’s that common to retire from a Board and then throw a large pile of money at the company - unless you are expecting good things coming.
I need to make better notes, thanks..
I hope he is looking to multi-bag ;)
Yes - the 4.5 million buy on 7 June - which must have been his looking at the date of the TR1 -was made at 1.5p. Not sure if he may have added a few more at 1.55p on 8 June which is the day he is reported to have crossed the threshold.
I see today some selling close to 1.5p, which for some reason I have as being close to the buy price William loaded up..
But can't figure out how I came to that figure, anybody else have an estimate ?
Yes, agreed Grey Panther, they must have asked and were supplied some info for sure.
Blanking them if you want a sale wouldn’t happen, over egging the case also wouldn’t happen as they will know the figures before the sale goes through.
Hi isdeer. IMO the CPR is not yet available in its final form but no doubt in the meetings that will have taken place (presumably between Egdon as the Wressle operator and ERCE as the consultant preparing the CPR_ there will have been some eary indications about what kind of numbers might be in the CPR document but no final figures. Enough info to give a wink to Egdon, maybe?
I'm just wondering, if there's a currently farm in negotiations ongoing, (of which I hope so) how long would this still take to complete and then arrange to drill, prior to license expiry date?
I think its january next year (expiry date), but what could/would be a potential timescale of actions to get drilling,
Do we need permission to drill still or is that in with the license already?
Can the term be extended easily without Ryan buggering it up etc if need be?
Just a thought and I really hope they get going soon before winter. That would be great.
Gla
I would imagine they have been given a positive view, good, v good, maybe a general outline of what to expect from the CPR that’s maybe one of the reasons the offer was double their mcap.
It’s a tricky one isn’t it, the shareholders think it’s worth more but the economics meant they will have to spend more along with attracting and keeping many more buyers/holders to reach that value, then we have the time element of how many months/years for that to happen, with these buyers they can push on with projects and do what they want when they want with more cash readily available.
@Grey I was hoping that Egdon hadn't seen the CPR, as there takeover price valued them at only £27M or so.
If this had been with access to the new CPR then it would imply the CPR added very little additional value to Egdon, which follows that the CPR wasn't much cop!
So going on that premise that the CPR hasn't been seen and their deal is done, we, (Europa) have the good fortune to see the full value of the CPR added to our company's worth!
I really hope it's in the multiples of 4/5 or more to the previous estimate.
We'll know very soon in anycase, once the CPR is available and news leaks we should see a bounce in the next couple of weeks.
IMHO
Hi Tovoc. The long awaited release of the CPR certainly seems to be taking its time. I'd not be surprised if Petrichor's takeover of Egdon is "done and dusted" some time before we see it. While the CPR may not therefore make much, if any difference to the outcome of the Egdon takeover, if it's a favourable report showing a significant increase in the oil-in-place, then it can't be too late to help us and Union Jack. IMO of course.
The question I have is that if Egdon's sale was agreed without the CPR being ready or even viewed would this potentially supper the Egdon deal especially if the CPR reports far more oil than previously estimated?
We know for sure Wressle has more oil than previous thought but we don't know by how much or (finger crossed), by how many times!
The CPR could/probably lead to a revaluation of Egdon's worth and hence our price too!
IMHO
Well, since my call that EOG is investable it remains so. Egdon could have been more on the ball re Wressle permitting issues but that is all history now as EDR exit the wacko publicly traded mini oiler sector...FYI some of my modest 50% gains are now crystallised into real money but the core holding is retained. Is this logical? I think so but it is for each investor to decide.
News should lift it