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It's as if the institutional investors are scrambling to sell as much as possible as fast as they can, now that the company's core strategy is failing....

Little point in adding until the seller is out. I'm hoping it's still Sneller, rather than another II. Either way, they appear very determined, so no way of knowing at how low they are content to sell. Neither should the risk of a placing/fund-raising be ruled out either. Better to jump on a moving train with known destination.

Incredible that somebody has screwed up like this, and incredible that a company with a strategy of buying North Sea production assets is now moving into Malaysia. Really not sure how I feel about this.

With almost certainty, the mention of Malaysia will be a bolierplate holder. However, it's good to see that, as the price continues to fall, Longboat have entered into some cost cutting: it appears that, going forward, Graham Duncan will be multitasking roles.

Technical analysis is irrelevant (and it is on most AIM shares). The bottom stops and this slowly rises toward the next drill on a combination of two factors: Sneller/other large seller is done, and the time proximity to drill.

In fairness, it does have a lot of cash cow assets, they're called investors.

Roughly 46m back in 23, of which 44m will be spent on paying down the EFF. The remaining 2m plus the existing 9m plus the addition draw on the EFF (mainly offset by further rebate) will be spent on the last dice. Share dilution to be expected sometime in 23 as they'll be nothing left in the coffers.

5p is definitely possible. BOD just need to get their fingers out and do a 50:1 consolidation. Come on Eytan!

Simply put in a limit order, max 3000 shares at a time, shouldn't be a problem - your platform should either execute or, if the price has moved down in the meantime, repeat the process at the current bid floor (currently 17p).

The only thing about the RNS is that it's allowed Sneller to shift a few more shares. Once he's fully out we might have a chance at getting back to 30p!

I'm confused, are we still in the 'just cooling off' period before the share goes to the moon?

Challenger Energy was a rebranding/reset for BPC https://www.lse.co.uk/rns/BPC/, and which included an asset merger. There was a 10:1 share consolidation, which raised the price off the floor to 3p - renewed downwards trajectory ever since.

Indeed, you'd think at these prices that even the company couldn't engineer yet more value destruction.

Just a caution for those here for the twitter pump n dump, choose the timing of your dump carefully, as you'll quickly find that you'll not get out with profits.

I think the gap to be filled is in the company's strategy.

Perhaps it's god's way of helping you manage risk and not make bad investments? But I can't see why otherwise you wouldn't be able to find LBE. Just need to be aware that it's a relatively illiquid stock, and so getting NT when you buy or (rampers beware) sell is not unusual.

Averaging down is rarely a good strategy, but I can't argue that there's a pump n dump opportunity here. Myself, I'm nopm.

The pattern of trades shows it's the way around, the seller has simply sold into the PI buys.

Yes, but I think we're stilling missing the rudder (and the Captain come to that).

I'm sticking around, but in need of a group hug, given that (as a certain Icelander would say) it's oh so quiet over there.

This is not have IIs see it. Their investment in LE will be but a drop in their portfolios, and would have been marked down as 'high risk, high reward' albeit premised on a less risky, advertised strategy. They will have done their sums against risk and are now balancing their portfolios. For PIs, this is now a bottom draw stock, with view to off-loading in full or part once the interest ramps up for the remaining drill next year.