Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
> An odious party that conceals its hate very well...vile
That is democracy for you. SNP not lost a Scottish election since 2007. Have a guess why we keep voting for them? Perhaps something to do with fact Westminster trouser the oil revenue while labelling us subsidy junkies?
Exactly Paul.
By my reckoning Egyptian Vulture plus cash in bank should see share price closer to £1.
Rodhette and Mugnetind weren't company makers and underwhelming.
But : both could be used as make-weight in a deal for existing production.
The good thing about working with Equinor / Var is there are lots of options going forward that might not be available otherwise.
Recent drop makes no sense to me...
Could be argued share price getting ahead of itself. However gas shortage not going to be magically resolved before we enter coldest months of year in Jan / Feb
Yeah, write off Mugnetind as being significant.
Luckily we have a big bonus with Egyptian Vulture.
Early notification a sign drill didn't go as expected and time to move on.
More buys than sell today ;-) go figure!
Hard to work out what going on here. Given share price has rebounded it looks like classic tree shake... Market Makers fishing for shares / stop losses?
As I see it : the current "silly prices" are a real bonus which allows company to accumulate cash : however we can't have cake and eat it. If gas price drops (which it will eventually) then future deals or RTOs become much more likely.
Anyone selling now is an absolute clown...
^ either of you have a Scottish vote?
reality is we don't care what you think.
^ for sure : crystal amber did great job in court. For that I take my hat off. That sadly doesn't give us any clues about the geology going forward though.
By the way - I personally don't trust, or rate, Crystal Amber.
One only needs to look at their own share price for judgement of their quality as investors.
I wouldnt invest simply because they are ploughing more money in.
@Genghis15 is correct.
IN SUMMARY : Future success now depends entirely on reservoir performance.
The problem investors have is that the previous board chucked so many smoke bombs that it is impossible to know what / whom to believe. One thing is certain : Lancaster didn't perform as predicted by Robert Trice. That doesn't necessarily mean it is a failure - but the water contact certainly appears to be higher and problematic. Certainly the higher oil price means bonds will now be paid off in time (and the future of Hurricane looks much more certain as result). What we don't know is if production at Lancaster will end sometime mid 2022. Or perhaps the well will keep on producing at 10K bopd (with 30% watercut?) for several years after that? That is the *BIG* question....
Certainly the post-Trice board didn't cover themselves in glory. They should be investigated as the attempt to give the company away to bondholders were an absolute disgrace. Ultimately the Tiernan / Corbett era deliberately trashed investor trust (so the ashes could be given away for free?). F--k them all : I hope they rot in hell. They never acted in wider share holder interest. However, simply removing them doesn't mean the problem of under-performing / uncertain reservoir is fixed.
Someone selling in big chunks - which suggests to me an institution. Completely irrational to be selling out now. Only explanation is they want out of oil & gas. Once they are gone this will surely tick up?
^ true on all fronts Daveri007. As I see LBE is basically riding Equinors coat tails. All of the benefits of larger firms economy of scale & industry clout but with potential upside of a start up.
By the way : Craig David says the party has finally started ;-)
Malcy makes a simple but valid point.
Equinor (the primary partner) don't need to shout about a single drill result.
But for LBE this result appears to be transformational with massive potential upside following appraisal.
Every single trade this morning is a buy.
Share price only going one direction...
https://www.lse.co.uk/ShareTrades.asp?shareprice=LBE&share=Longboat-Energy
@pauldrayton: "work to do" is a reasonable summary / but a very nice problem to have!
As you say the well still needs to be fully appraised before a proper value can be attributed.
Without getting carried away its fair to say this result should give the share price a solid base (... and I am smiling!).
Absolutely fantastic news! An early strike which will shore up the share price. Investors can now relax and enjoy rest of the ride.
Hard to put exact value on it given wide potential gross range (19-60million). However there are plenty hints in RNS that further appraisal will likely see that revised upward in time.
This result seems to justifies the current market cap (£40 million) and more. Not least given there are further drills due in short time frame and we now have a 2/2 strike rate.
At a guess this should open at £1+ then rise as word spreads.
Well done Helge and team.
The Longboat has finally departed!
In theory Rodhete (2 million barrels) already covered cost of the 7 well campaign. However commercialisation dependent on partners in area proving up other resources nearby to make it worthy. So for now it's bit of a no-score draw. Something better than nothing. Suspect it will eventually be traded off at discount (hopefully as part of bigger deal)
One of the video interviews highlight Mugnetind as potentially ideal for early monetisation. I suspect it might the well that gets the Longboat going...
I am near certain that after 7-wells this will eventually come good. However : it would be great if Egyptian Vulture comes up as an early strike - then we can all relax. If not it will be case of closing eyes and strapping in for the remainder of the ride.