Member Info for ALGU

I really wasn't planning to buy any more here but with PVR racing ahead it's simple arbitrage that LOGP has to catch up. If anything, LOGP's share price should be more volatile to the BROE announcement. To me a clear buying opportunity has presented itself and so I've bought more. The disconnect between the two stocks just seems crazy. And when LOGP moves it will move fassst

up 4% now. Nice to see a sustained rise each day

Whether it's 0.7m or 0.07m in cash, we have the 1m loan if necessary. So a cash call at these prices doesn't seem likely to me

This is nothing less than the company and its shareholders deserve. Totally undervalued for far too long, compared to other companies on AIM

How is this market cap only £10m when the likes of e.g. BPC went to £80m.

I've been here since before the flow test and can't understand why this doesn't get the excitement of other AIM minnows (that have next to nothing concrete compared to LOGP).

...on investegate website:

The Directors acknowledge that the Company was delisted from AIM today and are particularly disappointed having made significant advances in recent months with Jubilee Metals Group Plc ("Jubilee") on the Kabwe project and in securing a prospective new nomad who recently visited the Kabwe project.



As announced by Jubilee today, BMR and Jubilee have entered into discussions under which Jubilee has offered to fully fund the completion of the Kabwe project against an immediate fixed dilution of BMR's interest in the Kabwe project.



The Directors are pursuing a number of options in order to maximise value for shareholders including seeking an alternative trading platform for the Company's shares with the full support of Jubilee, its 29% shareholder.

Shareholders will be kept informed of further developments through the Company's website

I always wondered that too looking at the wording of the RNS over the last month.

Mentioning the date of 7 August is kind of immaterial, because the period of one month after the 2nd July will have expired before the 7th is even reached.

Agreed, the wording is sloppy elsewhere. e.g.

"San Leon Energy hereby issue this irrevocably and unconditionally guarantee to Suntrust, that San Leon shall pay sums due..."

I highly doubt that properly drafted legal docs would contain such poor use of tense

Eldorado, to say that 'the most likely scenario now is Q2 2019' for drilling is just wild conjecture. Statoil carry out drilling in the arctic, so you'd think they can handle the North Sea in November. There's no point making statements like that when you have no idea

agreed - surely the market is going to wake up to this at some point. it's just surprising that it hasn't done already.

...what the old highs of 64p would equate to in the current SP? I know there have been a few placings since those days. I recall the market cap was about �60m then, but I might be wrong. Strange, I really thought a long-awaited farm out would get this moving. Funny place AIM. People complained that Tony O'R would never get a deal together and it was all failed promises. And then when he does, people say that it's not the right deal.

"With a current market cap of just US$10M, Lansdowne's valuation equates to less than US$0.3 per contingent barrel for its 10% ownership." Boldy reminding the whole market that this needs a serious rerate....

the incentive to farm in pre-drill is that the cost is relatively low to a third party. if PVR go it alone and the drill is successful or exceeds expectations, any post-drill farm in will be significantly more expensive for a third party

Let's stay above that level now

Seems a shame that the director with the largest shareholding doesn't endorse this deal. Would be much more comfortable if the HAYT board recommended the offer unanimously.

Very rare to see a small cap AIM stock receive such favourable loan terms. The fact that there are no warrants/conversion rights attached to this makes it look like BHC are incredibly confident. LOGP's only real asset is Barryroe, and without it they would probably go bust (i.e. BHC would not get their loan back). So...BHC must be v confident that Barryroe is going ahead because that is essentially the 'security' to their loan being repaid.

ok, C-23z has not delivered but reading the wording of the RNS it says that C-70 has returned 'small volumes of both oil and gas'. Is this not in line with earlier RNSs where Joe said that the results of these wells would only ever be 'modest' ? I.e. this well has potentially done what it set out to do? 30% down? seems oversold to me.

fmfm this is what I've been waiting for for 5 years......

thanks JH, that would be quite some rise from today. Mkt cap of £60m. Many companies on AIM with that market cap without half the assets of Barryroe.

I know this is one of those unanswerable questions, but what do people think a value for LOGP's stake in Barryroe might be? I don't have any comparables to hand, just wondered if anyone else had done a very rough sum. Back in the day LOGP's market cap was c.£60m (and PVR's was c.£500m if I remember correctly) so surely the LOGP stake in Barryroe has to be worth something.