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http://www.lse.co.uk/share-regulatory-news.asp?shareprice=LOGP&ArticleCode=7gaeuhw2&ArticleHeadline=Major_Shareholder_Loan LOGP has sufficient ofrom the loan agreed last year to last through to the end of this quarter. Given that they have just entered a period of exclusivity with a potential farminee then it points that this deal is coming to it's final stages and that they really have been working on it for quite some time. The way it is written catches my eye as well as I think all the deals have been done and we are waiting for the ink to dry. "The Company is pleased to confirm the Barryroe partners have now entered into a period of exclusivity with a potential farminee in order to CONCLUDE contractual negotiations, having reached PROVISIONAL AGREEMENT on key commercial terms for a multi-well programme at Barryroe." (caps are mine) I think the waiting window is about to conclude and LOGP's future is about to be written. Normal Farm-in agreements give the owners some of the back costs back for a better share in the asset so I stick my neck out and say that I think LOGP will have more than enough cash in the bank to pay back the loan with it's 12% interest coupon without having to dilute shareholders and I think that will be during this month! Remember that the BoD here have averages close to the double digit mark if not higher.
Looking to buy some more shares here, but do not have much money. My plan is to wait to see if the share drops down to within my reach, and hopefully buy some then. If not, no problem, happy to plough away with what I have. I would imagine that the longer the farmee takes to be announced, the price should slip gradually lower on small volumes over the next weeks or months. I will try to keep in mind during that time, that the announcement that was made on the 28th of December, will be as relevant on the 28th of February.
munchbox54,....LOGP have 20% of Barryroe. Bought back into LOGP early 2017 myself, in Profit here at present s/p Bid level,....will not be selling any, have been considering increasing. I'm also holding a good PVR shareholding,......on positive outcome with Barryroe recent news, both should bag (imo). BW
Given the lack of activity here, it's clear that the general public hasn't appreciated the opportunity here barring the initial surge on the day of the announcement. I've doubled down on this small price drop. Time to wait for farm in news and profit. Sentiment in the oil markets are returning and this is a great bet.
that going to farm in barryroe??
Reported this as it is clearly inaccurate.
Surprised this hasn't moved up a tad so far today with OK volume and 2x buys versus sells. Would expect a few more buys would do the trick.
Yes cutting their 20 percent stake down to ten percent is quite a big mistake to make when you're trying to sound authoritative on the co. Don't actually sound a bad play here at all with 20 percent and a fast rising oil price. Looking forward to seeing the terms of the farmout.
Well peeps the MMs want shares to hold on tight I can sell over nearly 4m shares at 1.55...they want them !!!!
Oh well...Just shy of a million traded in the first hour. Wonder will this buck up a notch or two today? Looks like PVR not off to a great start today. Could do with some positive news to move things on a bit
so, can't even quote corrrect percentages of asset and the stock he advises us to move into is down 8% today so far Thicko!
You clearly want this to drop...they have 20% stake so get your facts right...let's see when the Rns comes out
But with no cash ........ company running on loans from shark funds and only 10% stake I feel they have no say as to what happens or more importantly what they get from the deal. It’s a no go for me and if people really think these will 10 or 20 bag then with £40m in bank and 80% of barryroe you can safely say PVR at 11p will surely be the better play. Only my opinion. My theory is better be safe than sorry. Toooo much risk here if deal fails then logp don’t have a business and could easily fall in to administration.
Yep indeed, I'm pretty sure that is not someone investing their pocket money. This will happen a lot over the coming weeks.
Those three large buys close to the bell today.
Undrawn amounts on the loan are sufficient to fund the Company to the end of Q1 2018 and Brandon Hill Capital have confirmed their potential willingness to increase the size of the loan, should it be required, pending the ongoing farmout discussions.
pvr are funded for a drill but the Rns alludes to the fact if farmout done it will be a multi well program. I think we will see pvr and logp farm out plus a cash raise here
Never pay too much attention to the intra-trade. This will build/compound over the next few weeks. I'm in several small Aim companies, this one has far more potentiel than GGP & LION. 6p in the near future, 11p - 13p at some point this year.
Tomorrow is another day. Next week is another week.
Considering we didn't get much of a rise off the back of PVR yesterday its a bit poor that we have fallen back as much as them today.
Good post by Jimmy a few minutes ago over on the iii board. Throws some light on the business case here at Lansdowne.
My shares at best and got 1.8 the. the MMS dropped the sale price to 1.75 a second later!
About an hour and 20 minutes since the last trade here. Pvr still showing activity. Could be just a lull in interest? Did you actually do a trade which hasn't shown up as yet? Normally comes up here after 15 minutes.
Though the world had stopped rotating then for a moment ;o) it's sat at this price for so long and no trades