The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Doesn't buck up at the agm he might have a problem....
Clive also told us about A5 sidetrack commencing any day now, and that was about a year ago, then it turned out they didn't have the right materials even delivered in order to start! Then they were waiting for a rig, etc, etc, you can't believe ONE WORD which comes out of cLIAR's mouth! Oh, and remember how several Qs ago each of the deep wells was vying to be the first to flow test?! Remind me how many deep wells we've had announced as having started flow testing?!?!
Clive has already said this will be a transformational quarter we are now entering. I hope he is right
imo, as it drops towards or at end of day... 500k buy... ?
Got an offer on it's the unbreakable ones
I think it's about time we bought some new drill bits...
Where the hell have you been read the rns's and you'll find irregularities. They are purposely going slow it's a game of chess once merger is complete then we will start to get proper news. A6 for instance as nothing up with it but have we heard anything of a flow test yet no we haven't. 801 they are waiting for 300 bar as if 250 bar ain't enough. A5 sidetrack still ongoing. This will all come to fruition once they have the chess pieces in place and then checkmate you'll wonder what's hit ya...
If this were going private it would have been done a long time ago at around 5p. Complications with local investors originally reversed in at 60p kept it floated in my view. Instead the CEO converted a shed load of debt at cheap price to bring down his in price from 60p. Also, he's never failed before and has done this a few times with other companies so I read. The plan now seems to be to raise money from institutional investors so it needs to be kept public to do this. The whole idea behind the merger is to use the larger market cap to attract institutional money. That makes it safer for all of us. I think they may have gone slow to get the final conversion done at 10p but also if they did a 90 day flow test then they had to sell all the oil at 10 dollars is my understanding. Now it's around 16 dollars so a bit better. However, the bigger prize is now maximising reserves to get the longer more favourable licence term (Clive mentioned this in podcast) now that private investors on the Baverstock side no longer have to fund the drilling. I think we will see a flurry of news soon, followed by a fund raising and then a much more aggressive drilling campaign to achieve this. Let's hope so. Anyone confused about the value upside should read the two research notes published on the company website. They aren't massively extensive but do provide and interesting backdrop on the value proposition and where the upside lies. The shallows themselves are a winner that the market seems to have overlooked. Enjoyable bedtime reading! :)
I don't think anyone has said the company is going slow to avoid having to sell at $10 a barrel domestically. What was said is they may be holding back news in order to see the Baverstock buisiness through. That's a completely different matter.
Personally I think the risk of main shareholders taking RXP/CASP private is low. Being listed on AIM provides a channel to institutional funding should this be required and helps to provide a market valuation to the assets. Also proving up the assets needs to happen this year if RXP want to move to production (of those assets) in 2018 so talk of going slow on purpose to avoid selling oil at domestic prices doesn't make any sense it my opinion. Plus even with a proved up well the company don't have to sell the oil, but in the event they do sell this has to be at domestic prices until the production licence is granted. Again it's another source of revenue should this be required so to say the company is going slow on proving up the assets to avoid having to sell at domestic prices is nonsense IMO.
My worry is about it being taken private by the main shareholders before they flog it themselves.
Remember we are talking here of the scenario of it being bought out on the cheap. That was the question.
Well you did ask the question and you may be correct and it is a laugh. Time will tell, let's see what the next few months bring.
So you reckon 300 mill for 1700 square kilometres of 127 mtrs of oil bearing zones. Your having a laugh. Shallow wells is 45mill barrels of oil maybe 300 mill for this. This as plenty of legs and that's why directors are purchasing...
Yes Richy, I agree that is a concern here that we might be bought out cheap before the assets have fully grown to their obvious potential. My personal thinking that "cheap" would still be three times what the value is now.
This will in my opinion not get bought out cheap the bod are playing a tactical game of chess and in the coming months all the way upto December of this year you'll see a benefit and everything they have orchestrated will come to fruition.
When you say cheap - how cheap could it go for?
I agree with you and that's my thoughts exactly! My only concern and the only way we can lose out here is if we get bought out on the cheap! RXP knows what they have and its massive! I remember two years ago at AGM Clive Persia lily told me he would expect a name change and that he feels the BOD would grow tbe company and get other assets! And hope for a main listing. It's all taking time ... let's just hope we don't get bought out cheap.
Let's get real here. Why would they go ahead with the Baverstock merger, the conversion of loan notes, the change of name, just for all this to fall flat on its face, it would make no sense whatsoever. It sounds fanciful to say that the Roxi BOD are holding back news on the deeps or slowing things down in order to conclude the merger first, but in this case that theory makes a lot of sense from where I'm sitting. The Roxi BOD have an awful lot of money invested here and they know exactly what they have with the deep wells not to mention the shallows. The potential here is huge imho, so why would they go to all this bother if they didn't think or know the same.
Would you sell oil at local prices or international prices? The delays were orchestrated. Things are about to get interesting.... hopefully:)
No you won't see 6p. News is coming once merger completed.
So a company with limited cash-flow from oil sales at domestic prices is wasting a small fortune re-branding. How very odd . Nice to have a chat room without all the daily garbage about "company's making news due anyway " still not come after many years, looks just like a long slow bleed from near £1 a share down to 9 p. Will we all get to top-ups lower in 5-6 pence range?
Try it on the 28th if you can read m8
Try Gasp!
RNS issued re merger and name change. Then, at the end it says ... Comments: Nothing to say Clive?! Hilarious