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https://www.londonstockexchange.com/news-article/SEY/holding-s-in-company/14886587
Their Philosophy:
Our investment philosophy is based on relative value with an event driven focus aiming to capitalise on dislocations and mispricings with a broadly market-neutral approach.
Central to Hadron’s investment methodology is the combination of bottom-up fundamental analysis with the ability to invest in value with catalysts situations across the capital structure of companies.
https://seekingalpha.com/article/4410283-transformation-sterling-energy-represents-opportunity
Russians must of worn out there golf clubs and smoked all the fat cigars , averaged down from 68p to 42p I think it has a chance to get close or exceed that if the new guys nail a good deal . fingers crossed
a production deal. Simple as
The Russians sold out . Tullow oil CEO in !
After years of nothing now we have a movement, something going on?
production deal must be imminent so.....
Kite Lake focuses on shorter dated events, with a multi-month time frame. The average holding period is between three and four months for merger arb trades and longer, but preferably shorter than one year, for the credit positions. The portfolio turns over around three times per year. For the credit investments, the team do not buy and hold to maturity but rather need to see a catalyst within a year to create the exit.
Kite Lake focuses on shorter dated events, with a multi-month time frame. The average holding period is between three and four months for merger arb trades and longer, but preferably shorter than one year, for the credit positions. The portfolio turns over around three times per year. For the credit investments, the team do not buy and hold to maturity but rather need to see a catalyst within a year to create the exit.
https://thehedgefundjournal.com/kite-lake/
with around 95% of trades having a hard catalyst associated with them. They include announced merger deals and other contractual transactions, rather than softer situations such as early stage rumoured approaches or deep value with soft catalyst investments. On stock-for-stock deals, Kite Lake hedges with shorts in the acquirer’s stock, sometimes using options to create more deterministic risk-rewards. Apart from mergers, Kite Lake is very selective in other equity event trades, only engaging in non-M&A investments if they expect a forecastable, transformational event.
Great to have Richard on board . He seems an investor with a very good record
https://www.marketscreener.com/business-leaders/Richard-Griffiths-05J8QH-E/biography/
Tony Hawkins, CEO at Sterling Energy spoke to London South East about the board refresh, change of investors and the future focus on oil and gas exploration and development in West Africa. Here is the link: https://youtu.be/e9G8LIwk0sk
https://total-market-solutions.com/2021/02/malcy-talks-oil-gas-xxiv/
Very encouraging and knowledgeable post rifteastafrica. The future is now starting to look much more interesting with Sterling Energy.
Atb,
Northern
All things point to us having entered a super cycle where oil supply is squeezed and demand growing . Hence the race to $65. McDade has been on ‘gardening leave’ since December 2019 . He has had all that time to seek other ‘west African production’ . I believe he couldn’t take the sterling job until now due to gardening leave and I’m very impressed how he even convinced ( or the stars aligned for) Kroupeev ( Waterford) and Belyav ( Mistyvale) to sell out and at 15 p .
I believe McDade is relishing this sterling opportunity . It is his chance to show the world how he can move the value needle. Aidan Heavy left him a royal mess in 2017 and it was hard to unwind that mess with limited oil prices and difficulties in Kenya and Uganda . However the shackles are off now with oil price at $65 , cash of $42.9 million , the support of cornerstone investors who were able to spend £14.7 million buying out the Russians ,a good contact base in the industry including lenders who’s leverage could benefit us big time and crucially the current valuation of the company of £37 million comprises £31 million cash and ONLY £4 million for management team ( assuming carried Somaliland asset was worth roughly £1 p or £2 million , as It seems from the trades on LSE that the Russians got a penny above cash for their shares (Somaliland).
This £4 million current valuation for management is astoundingly low and offers new buyers a cheap way into essentially still a cash shell , but intriguingly run by Tullow Oils top two executives from 2017 to 2019, skilled oil men who’ve been oil engineers in west Africa for 20 years plus . For all of their gestation of Tullow , Tullow was a $2-$3 billion capitalised company with assets totalling $6 billion !
Assets totalling $6 billion !
I think the first deal will come quick - a guy like McDade who presented many an analyst day , knows which oil fields in which countries will present the most value . He knows time is not on his side due to oil price rising and I think he is already making offers as we speak .
There’s a myriad of press releases to come :
1. Formal appointments of McDade and Cloke
2 . Share purchases of both men
3. TR1s for new major shareholders - who are these guys that bought out the Russians for £14-£15 million ? Do they have more to invest in the market ?
4. First asset acquisition - will it include debt ? I hope it does as in a rising market it is very good for shareholders leverage
When you look at the KISTos plc valuation of £61 million ( and it was much higher) which has NO assets and £34 million cash , meaning management team Andrew Austin is valued at £27 million !!!!
Compared to McDade and Cloke’s current look through valuation of £4-£5 million !!!!!!!!!!
Is Andrew Austin worth 7 times McDade and Cloke ? No bloody way ! Something has got to give and I suspect we will see a plethora of KIST shareholders come into this shell to bring this experienced management team valu
Board does anyone have any gut feeling as to when we might see some activity taking place. Do people think it will be before the end of the first half of this year? We seem to have been waiting for some time now and with new management in place I'm thinking things will move along more quickly - just wondering what other people think?
Atb,
Northern
https://www.malcysblog.com/2021/02/oil-price-union-jack-wentworth-sterling-energy-and-finally/
YF Finance have a 23.71% stake in VOG (3rd Feb 2020)
https://www.victoriaoilandgas.com/investor-relations/significant-shareholders/
I put forward this proposition last year. Perhaps worth revisiting now? I just posted this on the VOG board:
I missed this yesterday!
I initially invested in VOG as I thought there was a strong possibility that SEY would merge/takeover VOG (The other scenario was a merger/takeover by the Etinde partners - Lukoil, NewAge, Blvn).
SEY had about $45m funds sloshing about, YF Finance has built a 5% stake recently; and they had worked in Cameroon before, and wanted producing assets. The dominant shareholders have now sold their stake, we do not know to whom yet (but YF finance could well be the main buyer?); they've taken on the ex-Tullow boys (regarded as useless by ECO investors); and wish to invest in West Africa. 'Paul and Ian have extensive experience and knowledge of identifying and developing oil and gas assets in West Africa and intend to refocus the Company's strategy on producing assets in this region.'
Here is yesterday's after hours RNS:
https://static1.squarespace.com/static/5ba9f4ba77b9032215087961/t/602eb1150cb95542ca6d4131/1613672725525/20210218_Shareholders+RNS+%28final%29.pdf
Is this yet another contender to buy out or merge with VOG?
Great to see a few amoebas here trying to get a better entry price.
New Former Tullow CEO and COO
TR1s disclosing new major shareholders imminent (Kroupeev and Mistyvale volumes sold out this morning)
West African Production Focus
If only they'd used that cash pile to build a basket of crypto currencies last year you'd have your 205p already. Wasted opportunity.