Member Info for haggis_trap

LBE : the only "oil company" in world who go down in value as price of oil rises. Get this back to 80p and I am likely out of here...

Well : at least yesterday's drop in share price concerned him....

In reality the closed period meant hands were tied with regards timing and price of options issued. This is basically a retrospective reward : however given share price has risen from £1 -> £4+ I don't completely grudge them it.

If you add up those probability (0.5 + 0.167 + 0.25) then its likely one of these will be a winner. In which case the 7 wells campaign will be resounding success given we already have Egyptian Vulture.

The problem is that share price will only go north once company is generating revenue. Appraising and developing those reservoirs could take years and, as junior partner, is outwith the companies control. Therefore we are all dependent on board pulling rabbit out of a hat to reverse paper losses.

Should have bought producing asset before oil price shot up. Now they would be benefiting from oil price (as opposed to wondering how to finance production at premium prices sellers will demand). It really is double whammy. Egyptian Vulture is company maker but years off monetisation. Need a rabbit out the hat or lots of patience...

Wish I was late here... The "party" hasn't even started.
Email expressing my frustration sent to LBE today.

Will be surprised if Sneller seeks out now. Dudes like him usually do their research and go in for longhaul. At least we are in good company all sitting on paper losses ...

My experience is that successful drills usually end early (as everything went to plan)
However that is mere speculation.

Well done Kistos / Andrew Austin. Phenomenal RNS. The company is steaming ahead well ahead of schedule.

Yip - time for the management to start generating revenue to justify their very large salaries. Only once Longboat makes money will the share price rise.

Rockrose had history of raising at a premium ..

British Gas owner Centrica warns high energy bills to last two years
https://www.bbc.co.uk/news/business-59957716

A previous discovery from this campaign (Egyptian Vulture) already worth 90-100p by my calculations. However market clearing waiting for discoveries to be monetised before attributing value

Oddly has prices falling now makes a deal more likely?
Which was probably the clue given in last RNS (don't sell now : the journey just getting going)

Aye - it is depressing....
I think we all underestimated the time scales required with exploration.
With oil out of fashion the market values revenue rather than future potential.

The silver lining is Egyptian Vulture : i still believe that with patience nobody need lose money here.
However it is going to take much more time than any of us were expecting.

Complete cover up
The corrupt Phil Corbett (head of investor relations) moved on the week after the restructuring refused by court of law. Don't let the b@stards get away with this

Curious RNS.
Hard to assess if it's a speeding ticket or nod and a wink.
Either way : it's no secret Andrew Austin would be chasing deals. If company wished to raise at premium then they don't want share price to get ahead of itself.

@schlemiel : Oil is not devolved. Westminster trousered 40 years of North sea revenue.

Not sure what you are blaming SNP for
A) global warming
B) HUR having insufficient cash to drill warwick

Either way, gob ****es like you will ensure Scots keeping voting for Nicola.

The directors are all late 50s/early 60s. This is their last gig before retirement.
They clearly want to make it a success and fast (5-year turn around).

My feeling is that :
a) COP26 etc has currently destroyed sentiment in oil
b) However world economy still addicted to oil (for right or wrong).

Oddly I believe Shells decision to put Cambo "on hold" actually works in LBE favour.
The oil is still going to need to come from somewhere...

Yawn : Westminster have happily trousered 40 years of North Sea oil revenue. Scotland could / should be as rich as Norway. Now you arrogant ****ers have audacity to blame SNP for Cambo (when oil clearly isnt devolved and Holyrood has no power on issue).

Transparent argument that doesn't pass most basic sniff test.

Given oil is not devolved issue it is idiotic blaming the SNP (for what? global warming?).

Like it or not the perception of fossil fuels has changed.
As it happens I think we still need to think about energy transition.
UK & western economy still addicted to oil.
So it we don't extract it from North Sea it still needs to come from somewhere.