Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It's not AIM, it's the whole system. Look at the announcement made by our beloved Government last week. Lloyds Banking Group shares will only be offered to large institutions. So the public who saved the bank in the first place are getting zero chance to invest. A complete turnaround from what was muted last year. I hate London!!!!!!
Yet another thing that never happened, move out of aim.
Agree with some of your sentiment.... rewind 6 years ago and a simple drill update on any of the retail oil stocks (RKH, BLVN, XEL, GKP) and the blackberry red light would be flashing red at 7am indicating a well structured positive RNS and there was always a 20-30% gain to be had.... my only salvation has been a balanced investment strategy plus a focus on bricks and mortar.....
What my thoughts were in Jan 16 2/1/16 Trouble is that few will listen. Over the last two decades since AIM launched I have had the great displeasure of meeting many of the individuals who ply their trade in that sector. I was secure enough to be able to actively avoid them. They are filth. Slimy, dishonest, weasly little colonials, Essex boys and low level public schoolboys. The market has next to no credible regulation and the same people float the same junk, have it pumped by the same brokers, promoted on social media by the same stooges. Only the names used change( QPP _ Apparently they're called Watchstone (WTG) ,What madness is this?). The people and the tactics behind it all remain unchanged. Nor do they need to change as they work so well. Every market cycle there is a new army of retail investor know it alls, who just like the last batch will be complicit in ramping the junk up and ensuring that the fraud works while also being on the side of the defrauded...IMO! It won't ever change because the retail investor wants to believe that getting rich is not just easy but something they deserve. Oh how I was derided...a troll etc , paid deramper etc...my ,my ,those high horse's seemed even taller when you fell off them...Chow
Xcite Energy holds and operates 100% of the Bentley field all the time. 1.5% - 98.5% H'mm not quite the same ring to it. Rupert tell the truth for once.
Forget about POO, DECC, FDP ECT,ECT. This tinpot Board of Directors are totally out of there league. They could not / would not do a deal when POO $100+ ( would not my guess ) GREED. They have proved they are totally inadequate. Plan after plan failed, So many false dawn's & they want $10 mill working capital = salary. There office at Guildford answer phone / Aberdeen cyber office. VOTE NO AT THE EGM & yes i am prepaired to walk away with nothing.
So when the elitests have pretty much taken all the assets from small companies then and only then will you see a rise. It's like a recession. They are brought about to steal assets like homes cars little businesses.
Something went seriously wrong for a deal not be clinched when Brent was over $100; goodness, it hit $115. It is rather marginal now when you consider the capex in the billions of dollars. This extract backs up my previous guesstimate ( $5) on this very heavy oils discount to Brent; hTTp://www.xcite-energy.com/investors/investment-proposition "The RAR, as audited by TRACS, is based on forecast and prices effective as at 31 December 2015 from McDaniel & Associates’ 1 January 2016 Brent oil forecast, less a 12% discount for Bentley crude" So, at $50 Brent, 12% = $6 So, XEL would get $44.00 XEL's break-even cost per dollar is $34.4 Not a great margin, and what if Brent oil falls back to $40? I think the numbers are not attractive for the money required. Previous experience with the heavy oil production from 'Athena' was an eye opener. Its expensive getting the oil to move and the down the bore pumps can be pain when they fail. Have to get a rig in to do work-overs. 'Athena' turned into a nightmare when both pumps ( one a back up) failed in one of the main producers. They have a limited life anyway. The experience their coloured my view of investment case regarding heavy oil fields. Statoil appear to be the only credible player who might want to 'buy' XEL. In his interview Malcy suggested Bentley will practically be given to Statoil. I understand that a timescale for production from FDP can be 3 years. Everything is against XEL now. They have very limited working capital which may give them 2 or 3 months to close a deal with Statoil. They have not concluded the financial requirements of the FDP themselves, anyway, due to the 100% guarantor condition imposed by the tentative novel financiers. I suspect Statoil will takeover for a song and bank the assets hoping for a better day. I doubt very much that the BH's want to run an oil company. Could be years of costs with nothing to show. It could turn into a money pit. I think those guys will want some cash quick and move on. If the current XEL management were really committed to bringing shareholder value and turning the company around ; they would have taken pay cuts. They know the writings on the wall and , imo,they are going to take as much with them before XEL disappears.
Starting with Rupert Cole, Then the rest of this slimy BOD. Much better than a & short back & sides. Vote NO at the EGM.
The dual valuations by tracs and bh should have had some relevance.
I think re the suitors the chinese had internal problems should we say at the time, latterly deal msking for those that were left or newcomers not top of the priority tree. Anyway if sto take this on no doubt they could get back in, expensively as per sinopec, then.
Good afternoon highlandsbull. "what happened to the supposed joint haircut with bondholders, some equity some dilution, not 98.5% shareholders now being told is good deal for 260 mmbbl field against the hyped industry valuation." The infamous rns where the bod stated there was "unlikely" to be sufficient to distribute to shareholders if enforcement action was taken gives the game away , imo. Its evident that when the books were examined and experts valued the 'assests'; there was not so much 'worth' as hoped. I expect the BH's will have to take a serious haircut themselves. They really had to press for an enormous chunk of equity. Did you listen to the Malcy interview? He was diplomatic , but his comments on the boards own valuation ,amongst others things hinted that he thought they had been a bit over optimistic, maybe over-egged. The bit about the numbers working made me wonder if potential suitors were not entirely convinced by XEL's numbers. Having personally had a bad experience with a heavy oil asset I can understand why they are unpopular at the best of times.
Good morning Upanchors. Your previous threads were taken down rather quickly. It is too late to turn XEL around; they are nearly out of cash and time. "I have worked in several big office buildings so I know how to run a business like this." I think you said the 'mail room' in one of those taken down threads. Even Lord Sugar would fail to save this disaster so electing you to the board will be like shuffling the chairs on the Titanic.
Mr jonjo apology accepted
Price recovering for investors that are left with 1.5% of the company rather a bad joke.
Overman actually I am mistaken and I must apologise you did not say you had sold up in fact you said that you were quitting the BB which I took to mean you were out and sold up. To put the record straight you carried on to say that you still held shares - please accept my apologies for my incorrect statement. As for meeting up I don't do blind dates sorry !
"the price will recover once an FDP is in place" If anyone is hoping for the FDP being in place I think they are misguided. The FDP can not be finalised without the finance being in place; its catch 22. The last full year report (published 21st March) has this comment on the FDP " In order to fulfil the financial capability requirements of the FDP approval process for the Bentley field development, the Group intends to secure a financing package which meets its long-term funding requirements, including re-financing of the Statement of Financial Position where appropriate. There is, however, no guarantee of this future long-term funding being available. "
People may be accumulating in the hope that the bond holders will pay a premium to buy out the rest of the shareholders, or if they don't buy out the shareholders that the price will recover once an FDP is in place. After all, the company was valued in excess of £300M in 2014, despite having no funding and no FDP. Whether that is a sensible strategy or not, no idea. There are lot of less risky places to put shares. Anyone selling their Xcite shares at the end of june and investing in, say, SOU, would probably be a lot happier. For example, £10000 of Xcite shares in June reinvested in SOU would be worth £52000 in SOU or £1510 in XEL today. The emotional attachment, despite the duplicitous statements from the BoD has been frankly staggering. Unfortunately too many kept assuming that each new low was an amazing buying opportunity. I recall Ugiebear suggesting that 8p was a golden opportunity to 'fill your boots'.
As time becomes short it must be pretty hard to trade the shares to make a profit. I just do not understand what any buyer today is expecting if they held until after the dilution. Prices paid today suggest they must believe , post dilution the company will be valued of way over £300 million sterling. Does anyone else think that's credible? The company's rns , when translated ,suggests maybe maximum of £100million . That looks too high to me. To me it looks like a fast way to lose at least two thirds the investment if not every single penny. What have I missed?
And what they intend to do with it next.
It's only yet another super new deal for this management.
Jonjo when did I say I sold out you are a 2 bit liar
Jonjo do one you horrible despicable individual would love to meet you
Cat why give 10 mill to Cole to waste it stinks to high heaven
Vote no and oust the current incumbents.