Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The MM's don't even know this stock exists!
P.s. How do you manage to post a day ahead of the mortal world Rift?
Shake that tree MMs!
Interesting thoughts Rift.
My best guess is that Syrian sanctions will not be lifted for many years. The information we have at the moment from the company indicates a 'near term' acquisition though we both know from other investments what 'near term' could mean.
Either way I have my stake in here and the market is happy to keep us around this SP treading water so I'm parked up until we get notified of the project we are taking on.
Not that it makes any difference CLnr has over 15 million in the bank and is fully funded for at least 2 wells up to the end of 2021
The more time drags on, the more i think Kroupeev is not going to do anything until Syrian EU Sanctions are lifted in Gulfsands where he owns 37% and then RTO Gulfsands back into Sterling Energy as Sterling has $45mm in cash
It might be a painful wait but it seems all other notional looks at Due Diligence Oppotunities are a smokescreen
Would love someone to try tease this out
come on - there are way better investments out there - even buying back the own shares than this CLNR which is running at close to zero cash without any perspective BUT 20 Mil. market cap for what? SEY is 50% below cash PLUS they have an outstanding exploration asset!! Maybe when SEY trades at 200 Mil. Market cap. its a good buy.
Perhaps this company should team up with Cluff Natural Resources CLNR . Stop wasting your time in foreign parts there is oil in the North sea. Shell knows this and has joined forces, it's time SEY did the same.
Cheers Jose.
In addition to Somaliland I reckon they must have just about completed their investigation into whatever project they are presently appraising.
"Margin of Safety" hit the nail on the head CJ
Thanks Rift. Always tend to contact IR and preferably management. Nothing....I figure if I'm putting many Ks into company I'd like to speak to someone. Crazy this is worth less than cash. I'll continue to buy as not many investment with this margin of safety.
No . Wall of silence.
Its a long hold
Has anyone had a response from this company?
Cash 17 p
Accounts have $21 million or 8 p
So 25p NET ASSET VALUE
Liquidity awful across the market this morning but this is a steal at this price.
£37m Cash
£20m MCAP
25% freefloat
Target 16-17
From Genel 'the Company will initiate a farm-out campaign, commencing late Q3 2019' https://www.genelenergy.com/operations/exploration-and-appraisal-assets/somaliland/ …
It'll go at some point.
when there is actually ZERO liquidity a share price goes nowhere the trades are actually fairly small today even they've hooved up what little free float there is then nothing happens because there no shares to trade.
Crazy eh
cant buy £200 now only £100 joke eh
tried to buy £5k all the way down to £200 before they offered at 11.3!!!
Mind you try buying lol
Yup. Mad innit?
£38 million cash with mcap today £20 million
£37.13m Cash
£20m MCAP
£0.98m G&A costs annually
25% freefloat
Virtually impossible to buy
It’ll hit 15-16
WO WOW WOWOWOWOW WOWOW
SOMEONE KNOWS SOMETHING!!!
tRADES FLOODING IN