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Easier fish to catch at the time I would imagine
Thanks highlander. No point selling. It’s a good asset we just need another partner if APEC fail us
Is it true that the Barryroe prospect was first discovered about 50 years ago? If so, why hasn't there been a queue of majors fighting for a major piece of it?
Depends on what else is in the rns. If the money does not arrive and there is no other plan the logps holding increases to 20% of Barryroe so the price should go up in theory...it won't in reality.
This is so undervalued its unreal but a lot of oilies are like this at the moment.
I guess 0.8 if no show.
If it arrives then game on.
So... and this is addressed to other objective LTH like myself... where do you think the sp will go if the RNS tells us the money is not going to arrive?
Tidd that's a good summary from someone who actually understands the situation and the company & its history. Posters pop up from time to time here saying the company is about to run out of money but they don't understand the APEC loan is nothing to do with LOGP's working capital. The support of the IIs too is key, by calling in the loan they are limiting their chances of getting paid so would be a very strange thing to happen.
Oiler, the cash is earmarked for the Barryroe work program and is to be injected into PVRs subsidiary EXOLa.
The cash won’t touch LOGP and as I stated yesterday, LOGP have just raised £300k which covers them well into 2020 on their current burn rate.
Your de-ramping is getting worse since you clearly don’t understand the situation.
At present LOGP have a net present interest of 34mbo or if resumed to 20% 68mbo at 2C. At £6m MCAP with £1m debt (£7m total) the price per barrel at 2C is approximately 20p or 10p.
The latest news does not affect the Celtic sea nor does it affect existing licences so all of what you are proclaiming is false.
It’s clear the IIs and directors holding approximately 51% of the stock feel comfortable as none have reduced their position supported with debt. The existing £1m is also owed to existing stakeholders so it is very unlikely they will just wipe themselves out.
At 10p per barrel 2C the price is already on the floor, you need to brush up firstly on your facts but secondly on your finger in the air price predictions.
Unfortunately you have have a good asset and still go under if you cannot raise the cash or get a farm in. Look at xcite energy who had the Bentley field. Not looking good for Monday. Only question is will they kill it off or give another final final final extension. Suppose there is always the remote possibility that the chequer really is in the post.
Exploration is Finished offshore Ireland
All the main Political parties in Irelands sole concern is apeasing their un & eu masters and couldnt give two fcks with security of supply Fact, Logp & pvr are Finished.
people are only in here for Barryroe .so who care about the future exploration
The share is disappointing .... but the oil is still there .... and someone will bring it to the surface ... not a good time to jump ship if you can wait.... imo
Good luck to all, despite assurances in RNS , if I was a Chinese investor I wouldn’t want to invest on back of that.
Be gutted if money comes now, but just tipped balance over edge for me to sell......but sincere good luck to all with bigger b%%lls than me.....
Makes the crowd in Westminster seem respectable in comparison, this virtue signalling self obsessed narcissist.
Oiler87 - where in the RNS does it say LOGP have £159,000 left? I might be wrong, but I read it as them having £159,000 at the start of the 6-month period, but only £29,000 at the end (30 June).
Oily69 why are you posting here so much if you don't think this will come in? Why all the deramping mate, life is precious don't waste your time on something that doesn't concern you, go to the shares your invested in and have a discussion, take care.
mannan,
In the very likely event that APEC doesn't cough up on Monday, where do you see Logp going?
I thought they had a small interest in Helvick? Otherwise why mention it in today’s RNS. That does reply on MFDevCo (50% owned by NUOG) actually doing some work on it, and since knack all seems to have been done in the last 5 years I think we can have little CONfidence of anything happening there.
Not logp desperate but I can see oiler is desperate for lower entry deramping since long time
Given the significant softening in our share price over the last few months, in part as a result of delays with respect to the award of a new Site Survey Permit over the Barryroe Licence and the delay in delivery of funds due under the farm-out to APEC, the Board concluded a new equity fundraising at this time would not be in the interest of all shareholders. Accordingly, we would like to thank our Major Shareholders for their continued support and believe the terms of the Loan are attractive when compared to a number of other debt financings announced by quoted peers in the junior AIM resource sectors
LOGP is funded for WC until H2 2020. The cash balance is not £30k as cash burn is £35k per month.
On 25 June 2019, the Company secured debt funding of £150,000 from LC Capital and £150,000 from Brandon Hill Capital Limited, both existing significant shareholders in the Company
You must be reading a different interim report to the one I am reading. Doesn’t look to me like they are cashed up to well into the 2020’s.
Buy. V. Sell. More buy then sell
Logp not affected by this new low. No point of decamping here
Oiler I would argue the opposite - the announcement by Ireland came as no surprise. Everyone has climate control on the radar and Ireland in particular has been discussing it for months. What the announcement did clarify is that it does not apply to existing licences.