Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Atisha, you're right, I didn't think so. Aren't they a bit small to be main listed? To be honest I'd never really taken any notice of them before today. I just popped over to investigate & started reading Jack's posts.........which made me smile. Crude
As I totally agree with your post on AIM, I'm one of those 95%, this just happens to be a listed company, although you wouldn't think so.
Jack Sht...............I'm sensing some bitterness here. Your sombre posts echo many an AIM O&G investor. If it helps here are some sobering facts: 'Aim is more miss than hit for investors as it marks 20th anniversary': 'Over the past two decades, close to 3,000 companies have listed on Aim, but 72 per cent of them have never produced a return for investors, according to professors Elroy Dimson and Paul Marsh of the London Business School. Worse still, nearly one in three Aim companies have resulted in shareholders losing 95 per cent or more of their initial investment' . http://www.ft.com/cms/s/0/5c1c3ba6-1513-11e5-9509-00144feabdc0.html#axzz3k6iApHLR Wer'e all in the same boat basically..........except I invest in Sound Energy & since January 2014 our market cap has risen from £19 million to £83 million today......with some extra shares admitedly. But as one wag once commented: 'It's not dilution if it adds value. Those shares have enabled us to add considerable value.I consider Sound shareholders to be lucky (& in the minority) in that most can expect to see their investment returned with profit. But if you look at the AIm O&G over a long period and see what has happened to SPs relative to value it is prety dismal. Crude.........Jack - I have enjoyed reading your posts.
So chaps, we were close to our mega oil RTO(s) and then the bloomin oil price plummetted and ruined all of our plans (never saw that coming did we, even though we are very experienced in that area). Hang on though, there is a major power demand in Pakistan and insufficient supply to satisfy that demand and a superb chance to buy in on the future of electricity production in that country. We can't loose. Also a great opportunity to buy a cash generating bus company that will subsidise our work for the short term. A dream come true......moving away from oil; where there is over-supply, falling demand and more and more countries getting in on fracking, further hitting demand from the traditional middle east suppliers. Let's get into an area where we know there is infinite demand and additional opportunities to buy into more power stations................. Nah! Let's go back to oil, especially now that the Chinese economy is slowing. YOU P*LL*CKS!
...I will let you know "shortly"
Wonder what those will be. How about..........'Work progressing and further announcements planned shortly. By the way, we need more money for admin.'
....................the Board expects to make further announcements shortly.
Not as exposed in terms of value, but still very over-exposed in terms of how it affects my portfolio, well-being, dreams etc. So I completely get your reluctance to jump for joy at the last RNS. I don't trust the BoD, as they have been so bad at communications. But I'm still keeping my fingers crossed (what else can I do?)
To be honest, I don't give a flying f#!? what anyone thinks and if my recent posts prevents just one investor putting their money into this unregulated market for thieves, I'll be content.
You're not exactly going to encourage investors with constant moaning, which makes me think you can't be half a mill down...
Latest October imho....
Soz about that. What was I thinking. YIPPEE......I'm half a million down. Jack
It's not working mate - it's just making us all feel crap ;)
Lol. Can't really dis ECR as, eventually, I made a bundle. Guess where I invested that bundle. For a number of reasons, I am very bitter about my donation to, sorry, investment in XPL. Being ultra positive for years hasn't worked, so I'm trying negativity and bile :-) Jack
There is a glimmer of hope, better than oblivion. With my P/F showing 3 shares suspended and 8 at all time lows, I'm glad of anything at the moment. After 30 years in this game I have just about given up with the Markets of recent years. Jack, you could still be in ECR, that would be dire. GLA
Did you sell out prior to suspension mate, you don't have a good word to say about this positive news...
.......assuming, of course, that the drill results are positive. I won't be holding my breath. Jack
.......so, on that basis, we're looking at Nov/Dec for a return to market or, given the usual slippage and administrative delays in these processes, sometime in 2016. Great! Jack
....thank's
I understand due diligence is currently being completed. San Leon's well is expected to spud in the second half of August 2015, and will take approximately 30 days to reach total depth. It would be sensible to return to market after their drill result where there is a high level of confidence of a successful result.
Teredo is the Moroccan offshore asset partnered with Glencore which was one of two assets in the Imara holding. I understand the other asset which is onshore Kenya was far less prospective at current oil prices and was dropped. The Teredo asset is considered highly prospective at current gas/oil prices. San Leon are drilling the same structure in Morocco in August (onshore). I posted their announcement separately.
What happened to IMARA stake? Or is TEREDO the same company???
San Leon Energy, the AIM listed company focused on oil and gas exploration in Europe and North Africa, is pleased to announce the signing of a rig contract for the drilling of the El Aaiun-4 well on the Tarfaya conventional licence, onshore Morocco. The rig contract has been signed with Entrepose Drilling for the Cabot 750 rig. The well is expected to spud in the second half of August 2015, and will take approximately 30 days to reach total depth (TD) of around 2000 metres below rotary table. The reservoir target is Tertiary channel sandstones, with good reservoir properties expected, and the surface location is approximately 14 Km from a gas market (El Marsa OCP phosphate processing plant, near Foum el-Oued). Oisin Fanning, San Leon Executive Chairman, commented: “As previously stated, one of our main priorities this year has been to commence drilling the onshore Tarfaya well, El Aaiun-4, and the rig contract with Entrepose Drilling brings us one step closer to this. We look forward to the near-term drilling of the El Aaiun-4 well, with its structural location updip of gas encountered in an older well, as well as its proximity to the gas market and other nearby similar channel targets for follow-on wells. We believe this well has significant potential and we shall update the market when the El Aaiun-4 spuds.” Qualified person Joel Price, who has reviewed this update, has more than 20 years' experience in the oil & gas industry and is a member of the Society of Petroleum Engineers. He holds a BA in Natural Sciences from Cambridge University, an MEng from Heriot-Watt University, and an MBA from Durham University. Joel is Chief Operating Officer for San Leon Energy and is based in San Leon's London office.
....so what would you say the timings will be?
Under the Standard Listing rules they do not have any more headroom to issue straight equity without filing another prospectus such as what would be required for an RTO. The maximum available equity headroom was placed last month hence why they have structured the latest placing as a convertible which was predicated with a requirement to have agreed and published the acquisition terms prior to completion (which has now occurred with the latest RNS).