Member Info for haggis_trap

@schmeil.

The reason Scotland has voted SNP in every single election since 2007 is because of loud brit-nat gob ****es like yourself.
Britian has never put Scotland's interest first : disasterous brexit a prime example of that.

Get off your high horse, cause you clearly don't have a vote up here. If you were politically aware then you would realise that oil isn't devolved (Westminster need the subsidy) and that decision over Cambo field will be made in London. Which of course makes your ill informed rant about Sturgeon all the more comical

This thread is comedy... Bunch of bitter gammons chewing on a wasp and bumping their British nationalist gums over Sturgeon. Like some fat roaster in corner of a pub - no one gives a f--k what you think.

However here is a little home truth : Westminster has happily trousering the north sea oil revenue for the past 50 years. Then the have the audacity to label Scots as subsidy junkies. Look in the mirror pick pockets!

The cult?
The SNP stay in power because 47% of Scots voted for them in May. Understand how democracy works you idiot

Schmeil : if Boris Johnson wasn't such a useless brexit **** then Scotland wouldn't need to vote SNP : have a nice day :-)

https://www.londonstockexchange.com/news-article/HUR/false-high-court-claim-and-egm/15096720

https://www.londonstockexchange.com/news-article/HUR/false-high-court-claim-and-egm/15096720https://www.londonstockexchange.com/news-article/HUR/false-high-court-claim-and-egm/15096720

Wow...
Anyone have any insight what the hell is going on here ?
Absolutely bizarre. Never seen an RNS quite like it.

surely next catalyst is the imminent drilling?

Thanks @Reflection - that is great news Corbett is gone...
Until recently he was still listed as working for HUR

Phil Corbett was the official mouth piece of the restructuring plan.
He lied to me on the phone several times, but was always careful never to put anything in writing.
The face he has taken such a long leave immediately after the court sanction was refused says it all.

If investor trust is be restored in the company then Phil Corbett must go.

Anyone know if Phil Corbett is still on "holiday" ?
6 weeks this the sanction hearing now - so he must have been away somewhere special.
The company wont answer my emails asking who the head of investor relations is...

Thank you Andrew Austin!
Great ride so far.

Share price slowly ticking up suggests pressure on the free float available.
Investors, quite rightly, holding tight to their shares for longer-term.

Phil Corbett pretended to be the share holders friend... In reality he was complicit in the restructuring scam. His role was to fend off difficult questions (given lack of formal PR from the board). He frequently told bare faced lies to the very investors he was trying to defraud

Marris is a sock puppet ...
A credible CEO would have given some kind of interview to the market / investors after such long period in the role.
Also : Is Phil Corbett still on "holiday" ? Seems to have taken a convenient timed month-long sabbatical since the court decision. The company wont answer my emails asking who the head of investor relations might currently be...

Solid RNS and very exciting... Ahead of schedule.
Though what caught my eye though is the exceptional low net-cost to LBE of taking part in these drills.

> with a pre-carry net cost to Longboat of c.$5 million (c.$1m post tax).

So : LBE have staked just $1 million to take part in a drill which could discover a 15% share of 200 million barrels.
30 million barrels could be worth ~$120 million ($4 / barrel). So even moderate success in just this first drill could see the share price / market cap significantly higher than the £38 million LBE currently valued at.

> The Geological Chance of Success associated with this prospect is 25%

Exploration always a risk - though teading between lines I think the management has chosen these assets for a reason and believe chance of success to be a little higher? They have had drilling success nearby with Faroe and something made them come back. Also : average drilling success rate in Norway in recent years has been closer to 50%.

Egyptian Vulture seems one of the higher risk / higher reward drills? Early success will see this fly : however if not LBE have lined up x7 bites of the cherry, on similar terms, over next 18 months.

Good luck all!

^ Even moderate success this autumn will see share price rise.
In total they are chasing ~100 million barrels across 7 drills.
Assume a low success rate of 30% and $4 per barrel valuation for a company.
Market cap (currently £38 million) could be £120 million by xmas.
i.e share price could be x3 higher than 70p.

Also : The management (in life of Faroe Petroleum) have previously swapped new discoveries with Equinor who are a primary partner is these drills. So assuming oil is found then things could move quickly in terms of LBE becoming a company that generates revenue. It unlikely we would need to wait for discoveries to move into production. Finally : price of a barrel is the same globally. Drilling in Norway is materially cheaper than anywhere else in the world right now given the tax-break... So arguably exploration the right path to follow given current high price of oil.

Next 6-months should be interesting / exciting. Though what would be nice is an early strike to calm nerves.

Phil Corbett has been "on holiday" since sanction meeting announced on 28th June :-)
Aye right.
"no comment" / "nothing to see here".

Is Phil Corbett still employed ? He was the mouth piece of the scam.
Has anyone spoken to investor relations ?
They wont answer my phone calls / emails asking if he is still employed.

Is Phil Corbett still employed ? He was the mouth piece of the same.
Has anyone spoken to investor relations ?
They wont answer my phone calls / emails asking if he is still employed.