Member Info for CaveatEmptor

Hello Bob, I will certainly try to be there. I would like to go over some plans with him to start paying dividends once production has stabilised and CIB has started to build. It would be nice to get some form of statement of intent in place at the AGM in June so we long suffering shareholders can have something concrete to look forward to in the near future.

The last time I spoke to Colin he told me his top priority was to build the CIB balance so I expect he has battened down the financial hatches until he has something accretive to spend it on. A new asset, perhaps? And not necessarily in Mozambique...

Looks like third time lucky, at least for the moment...

Did somebody really put through �8 of shares just to justify reducing the bid for a large part of the afternoon? Or is there a trade being worked in the background? Whatever, good to see another little rise today...

Yes, CB appears to be genuinely optimistic for the near-term prospects of the company - such a difference to just over a year ago! Pity if you can't make it to the AGM - it would be good to go for a drink and catch up. let's hope XTR plumps for a date you can make. ATB.

With Moz now contracted to make regular payments that, in the worst case scenario, covers the total company overhead for XTR, this means that all of the income from Sino will go straight to the bottom line ( profit) and, as we all know, Sino took precautions to ensure good production throughout the rainy season. This means that we will be showing an operating profit this quarter for the very first time in our history. Not sure what is happening to Omnia at the moment, but anything we get from them in the short term can only have a positive effect on the bottom line and medium term they will be producing as much, if not more than, Sino - so only good news due there. What is not to like at the moment ? No wonder we are beginning to see a bit of a recovery in SP. Roll on first quarter results... hopefully shortly after Easter.

This purchase, if it goes through, would seem to value the Thai operation alone at 20% above the current Market Cap for the entire company and this does not allow anything for either Malaysia or Indonesia. I'd have thought that this should put the SP at somewhere between £1.75 and £1.90 even allowing for an 11p dividend and ongoing debt repayments - or have I missed something?

Looks like it could take some time to settle this morning...

Looks like we could open over 117p...

Could the current rise have anything to do with the expected reserves update for the Bualuang field? -"Detailed study of all field data has led management to estimate an increase of almost 40% in STOIIP from 180 million barrels to over 250 million barrels. Management expects this to lead to a substantial increase in contingent resources and ultimately to reserves and production growth. The Group's independent reserves auditor is currently working on year-end reserve and resource certification."

Maybe we can hold onto our gains today? - It would make a change from recent trading patterns! A good rise today with a big delayed buy might help put us on track for a long overdue recovery in SP?

Of course that should read 114.5p LOL...

Agreed, But price now 14.5p so there may be a big buyer mopping them up?

Looks like the new target of £2.60 is helping with a bit of a recovery today. Still a long way to go...

To be honest I don't see much upside here, but I hope I'm wrong. In an ideal world there should be some recourse against the investor that defaulted on payment for the equity issue. but given other factors I'm not sure even the £80K that was in default would have helped us with the 750K loan repayment. I guess the lesson I have to take from this is to only invest in clean ( i.e. no debt) companies - hence my interest in the other company. Once bitten, twice shy? ATB-CE

Good afternoon, Saw your post on the other board. Not been here lately as not a lot to say about SLME but good to see you are keeping on top of things. Sold most of my shares at a considerable loss but still have quite a few left so can only hope that we eventually get something out of Mustang Island. Whilst living in hope, I'm not exactly holding my breath. ATB

Still here, but difficult to type whilst licking my wounds LOL Not much to say IMO until we find out if new funding has been found. Should be possible based on imminent revenue but very much relies on AM's negotiating skill. Am sitting on the sidelines and watching with interest...ATB.

I hear you. Has anybody heard from AM recently? If not, I will try and get in touch. ATB

Once flow rates are determined by Dominion they are effectively in the public domain and SLME will have to report them. The whole pipeline was closed down for repairs and that included a large number of other platforms and operators that Exxon has caused problems for - Delay could be due to complexity of getting it all back on line and running smoothly through the meters. On the other hand it could be more serious - either way we should know soon enough. GLA.

Someone please wake me if they hear the 'ching' of a cash register. Many thanks, CE