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Who will ever trust them again, my guess is no one
Daytrade mabey
I guess the brightside it came in underbudget and they should still have 2.2 million from the placing done at 1.8p should keep the lights on for some time.....
Only if you get rid of all the directors
Had this on my watchlist for some time ... when the crazy sell off starts at 8 am could be a great buying op later today ?
Initiate a fsp and close the company returning shareholders money before SO spunks it all.
You would hope it is binned but i wouldnt count on it. They have said to "use for other deals" as well as side track. With SOs record i would let him make any more decisions. He has put up 1/3 of our Wressle asset as collateral on this loan and you dont need him making any more poor decisions
Least the £1m tin pot loan will be binned, wonder if the field will be developed within its “already commercial” status.
Disappointing result , too far out probably , but when you think they have just bought into a discovered asset of roughly 8mmbbls which at say 5 bucks a barrel sales value to flog off to a neighbour gives 40mill USD/ 36mill GBP for a paltry 4.5m cost its a bloody good deal. Been sitting on sidelines watching this, I wouldn't go committing hari kari over it M's will have their fun at first but with production revenues any drop will be short lived imo.
I agree that SO has lost all his credibility now. The whole bOD needs changing out. The first thing is they never managed to do anything which would get the share price up so BGF one didnt want out or two convinced them to stay. So when the share price went up we continued to have sellers pushing price down. They then borrowed a million off UJO which was a double whammy to the decreasing share price. Not sure what this million will do except pay their salaries.
I hope they have the P45s ready for SO and the rest of the BOD.
He added 400 + million shares, surely he must go now.
They gambled and lost. SO must go. Loser
Do you think Simon should call it a day now and resign. This was his decision to go for serenity.
Agreed, the only positive is that they have Wressle which is revenue producing and other assets such as the existing Serenity discovery.
Classic case (and not in hindsight) of protecting capital in that lead to the drill and letting the balance stay in play as he drill descends
This went to around 3p and people really should have top sliced
Oh Well that's the end of that then.
Sadly the Irish politicians prefer virtue signalling at every opportunity…
Haha well a lot of them are at the moment - not sure if that’s good or bad! But with energy prices where they are I still see upside even in what’s going to be a very difficult market.
With regards to LBE, it’s been mostly disappointing until now, but they are currently testing their Oswig discovery which looks potentially exciting.
I’m hopeful for I3E & EOG with Serenity but take nothing for granted in exploration and appraisal - let’s see what the rest of the month brings.
Respect if all your investments are oil companies! I bailed out of LBE but I think EOG is worth a punt for their Irish interests. Main investment is LOGP just in case the Irish Government decides to serve their citizens.
Thanks for that Corky - really helpful.
Too much idle speculation going on in here. Whether it's to influence buying or selling, most like trying to influence selling being in a sensitive period into drilling results !
Yes apologies for the stress!!
I also have Monday 17th pencilled in but could be sooner or later depending on what they do or don’t find.
RNS. Monday 24th
@Serif, your quite right, plus the Geo side-track amendment doc adds another 19 days, so 49 in total..
But on those optimistic historical time scales, I would expect people to have been de-risking the last couple of days,.. Makes no difference if your in for the result though.. Only really brought up the previous timings as mentions of problems, or the rig leaving early were appearing. I was busy checking out details and did'nt see Paul's update untll after I posted... I wanted a relaxed weekend... :)
D2B. Need to be careful here - just because last drill took 20 days doesn't mean this one will. It’s a different site, there are any number of minor things that could slow a drill down without taking it outside the 30 days, they estimated 30 days this time but 28 last, etc.. Unless someone gets info from the drilling team we won’t know how to interpret why something is happening until an RNS appears. The helpful email from I3e seems to suggest they are a way off yet, can’t imagine they would be responding in this way otherwise. .