The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
Morning Chris.
Another week here and still no news.
Regarding solo’s Ruvuma stake.
I assume that if it is farmed out or sold we need the permission of the Tanzanian government.
If the situation over at aminex is anything to go by we could have a very long wait to monetise our share.
Still showing the acquisition presentation on the website and interview with mr Reynolds post aborted acquisition targeting 20000 barrels a day equivalent within five years. That’s 8 months ago.
Cash at bank reducing no income for 2 1/2 years. I think to myself is this the way to run a business.
Maybe the board are working hard on another big deal. I would prefer a few smaller ones and build gradually.
Accounts due within a couple of weeks. The board should be asked at the agm just what they have been up to given the total lack of progress and if their strategy is on course. It certainly doesn’t look like it at the moment.
Situations change Burning and it's up to you the investor to adjust your risk as you go along. 2017 that Caddy keeps harking on about for example saw an 11 Times increase in gas assets discovered, 25 year development licence applied for whilst still earning income from the then KN-1 producing asset with a back to back drill expected with NT-3 and a Helium-1 IPO
KN-1 dried up & the back to back drill never happened whilst the Gov wasted 2 .5 years trying to decide if the contract and PSA terms were what the country wanted and we are now waiting on them to approve the AEX/Zubair farmout whilst the mining review also impacted any progress on H-1
You have to adjust your position as events happen (or don't) Anyone who bought @ 0.35 up has multi-bagged, where it go's from here depends like always on events. Will the BOD produce a deal on asset that completes this time and what will they do with the Primary asset? current being farmed out at a price far in excess of the market cap.
Just been on their site now wher they claim to be delivering value to their shareholders and have become serious cash generators. Surely it is against the law to tell such lies?
About enough to pay the wages of the bod for another year before they make another placing.
By Editorial Dept - Jun 12, 2020, 12:00 PM CDT
https://oilprice.com/Energy/Energy-General/Natural-Gas-Is-Ready-To-Rally.html?utm_source=dlvr.it&utm_medium=twitter
Thanks to Ivans on the AEX bb
When the AEX/Zubair farmout completes then they will start prep for the drill and the 3D seismic so will need money then. otherwise the BOD claim they are funded for G&A and Operational till year end.
Will need to place if the secure a deal for a producing asset.
Will need to place for drill year end/Q1 2021
Will need to place for 3D seismic
Will not need to place for 2 & 3 above if they farmout some or sell some or all of their 25% of the 2TCF GIIP/ 726 BCF 2C
I know the situation in the market is affected by the virus.
I am still very disappointed that the so called experienced bods have totally failed imo to do anything to enhance shareholder value. Last October all smiles and much talking. They couldn’t line up quick enough for their interviews. Words and promises are one thing , delivering on them is another. At the moment they have delivered nothing in over a year.
Company breaking news next week maybe.
Have a good weekend, at least the weather won’t be too bad.
Afternoon steve, the closer we get to the end of the month, the more I believe "We are working on an update for the market" is just the annual report (ARA)
So no update at all...
Hard to believe over three months since aborted deal.
That was announced last October then a further five months until aborted.
I assume any other possible deals have met a similar fate.
There must be some deal they can do however small at least it would be a start to the promised 20000 bopd equivalent.
The months are ticking by and still nothing.
They will need some mega deals to achieve anywhere near that figure.
The board have in effect spent over a year being paid by way of salary or fees.
IMO not a very good show to say try least.
Not even an update on anything other than just copied from aminex Rns.
Nearly forgot the returned deposit.
Maybe next week then.
Advice Caddy, I don't give advice. I have no financial qualification to do so. I have opinions and sold out back the because NR was about to do another dilution and wanted to spend millions more on Helium-1.
You and burning seem to be the ones that dish out "Advice" as "Facts" apparently. A bit like the rubbish about the current bod being in place for 5 years..... utter nonsense.
BBC reported this morning that Tanzania government is claiming to be COVID free. Burials at night, Government refuse to give stats, doctors too scared to speak up, cover up by Government. Also on BBC web site https://www.bbc.co.uk/news/world-africa-52966016 and https://www.bbc.co.uk/news/av/world-africa-53017258/coronavirus-in-tanzania-has-covid-19-disappeared . Not good for business. Worrying.
So why did you tell everyone that the price was far too low and you wouldn't be likely to get in at that level again? Wonder how many followed your advice and lost 60%?
Stats Caddy? Just the chart as shown on this site, Google and the London stock exchange. Not my stats.
4.1p Caddy, really? 2017 was the last time it was that price and around the time I sold my whole holding. Memory is a funny thing it seems.
Statistics are a wonderful thing CP. I remember some time ago you saying how lucky you were to get some more at 4.1 p as that price was not likely to be see again. Think you might have been right there unless there is another consolidation
Another one of your outstanding facts Burning?
0.35p to 1.275p since 19th March, that's over a 360 % increase.
A merger coming for some reason.
1000000 buy booked out at close.
...
Maybe Solo can have a future involvement too, I feel some sort of deal coming soon that’s for sure :o)
Makes you wonder if directors got confused with whom they were talking about ,regarding 3years and 20.000 !!! How on earth can they be seen to be impartial in there dealings with vested interests ,looks like years of the same conned by con men !!!
Two of our board seem to be working hard over there.
Seems solo are on the back burner at the moment.
As long as our pilot light doesn’t go out.
Maybe our board are spending a lot of chargeable time elsewhere.
Well guess what Gneiss and some of our Board are involved.
https://gneiss.energy/gneiss-energy-advises-bahamas-petroleum-company-plc-on-merger-with-columbus-energy-resources-plc/
I would think block could be a possibility given directors shareholding’s.
Would be interesting as the merged company would hold 50% of Ruvuma, the same amount as the Zubairs…..