Member Info for LedZep

Thanks for that, ADT. "There is huge hidden value in the company......... and we are going to start bringing that out" Very pleased I got in @ 0.6p, time to sit back and watch.

Just weighing up which is the better investment opportunity here, between UOG and PXOG, and something in the Vox interview puzzled me, which some of you better informed on UOG, may be able to answer. During the interview BL stated that the Italian discovery was worth approx 180 boe to UOG, using the phrase net,net. As I understand the numbers shouldn't the discovery be worth closer to 340 boe ?? i.e. 1mmscf = 0.167 boe approx 10mmscf = 1670boe approx combined flow from the two reservoirs 20% interest = 340 boe. I have only a vague awareness of the mechanics of O&G exploration and production, but could the apparent anomaly be that gas cannot be produced from both levels simultaneously and must be done sequentially, and this is why BL referred to 180 boe, as indicating the potential for revenue ??

I think we may need to see a couple of sells first, but see how it goes. This situation reminds me of NTOG about 12 months ago, with limited liquidity. You had to watch for a sell to come in before you had a chance of buying at a decent price, they too had limited freefloat.

Another tick in the box with a solid reserves update. If anyone is in a buying mood the mms can accommodate �2000 @ 29p, how long for and for how many iterations, is anyone's guess, without going to NT. I'm still of the mind there is a regular buyer out there with a 28.5p order. Since 10th Nov, chunky buys of 28.5p have been regularly occurring, coincidence ? Maybe. But to date the 28.5p buys aggregate to 1.4m shares, a while to go to 3% holding notification, but this could be a factor in suppressing liquidity, coupled with the fact that we are all sat on our hands and will not touch the sell button.

Appears we have a "stand off" here, can sell 18000 shares but limited to only buy 100. Looks like they are waiting for sells to continue to fill the 28.5p order. This may take quite a while. Last RNS info quoted in todays Telegraph,

Can't buy a bean without going to NT. Suspect we'll see another sizeable buy later today around the 28.5 mark. Or the MMs have packed up and gone on a skiing holiday.

Another tick in the box - CEO appointed. "Head of Mergers and Acquisitions " at Petrobas, useful experience for negotiating a farm out deal.

Thanks for the info, Josik - will make interesting bed time reading.

Thanks again for providing the supporting detail on the mechanics of the finances, certainly helps to assist my understanding. How long have you guys been invested here?

Sorry to be the new kid at school, raising questions that have already been discussed, but on trawling through the numbers , there appears to be a disconnect, ( that probably has an obvious answer). Using Q3 report, Q3 figures: i.e. $4.1m for 91 days production. Avg 60 mmscfs/d during Q3 Notional cost of $3.04 / mm btus Conversion: 1mm scfs = 1037,000,000 btus Notional cost of $3.04 * 1037 / mm scfs = $3152/mmscfs WRL interest = 32% Theoretical revenue for Q3 = 91 * 60 * (3152*0.32) = $5.5m compared to reported $4.1m Is there some royalty payment / local tax / land holder fee payable ( as per Texas), that reduces the notional $/mmscf? Or are there other contributing factors, maintenance/holidays etc that have reduced production period, but these would have been stated, surely. Whats the general view on the "extended credit" period that appears to be in operation, particularly as production increases and the bills get larger, and with regard to VOGs recent experience in Cameroon? Apologies for what may have already been discussed but trying to get to grips with the WRL company.

Appears to be a regular chunky buyer since the last RNS was issued. Unable to buy a share @ 16.20pm today. More large orders to be filled next week??

Thanks guys for the additional info and detail. Can't understand why there is not more awareness of WRL, particularly with the write ups by Malcy. Hey-ho, greater opportunity to tuck a few away in the SIPP. Cheers

mick: Not sure how you have calculated the potential for $2.5m gas sales per month, but my rough calcs would be closer to $1.70m per month for 2018, assuming top end of guidance at 75mmscfs per day - from: Avg price per mmscf for Q1- Q3,2017= $9.2m/(45*273 days) = $749 Top end of guidance for 2018 - 75 mmscf/day = 365*75*749 = $20.5m, or $1.70m per month. (Assuming stable gas prices) Using $749/mmscf/d should yield approx $13.4m for full year 2017 (at avg 49mm scf/d) Is there an anticipated gas price increase in the pipeline (so to speak)? Even from these lower numbers moving revenue from $11m to $13m to $20m is still pretty good, and the guidance figures for 2018 do feel conservative, considering the future plans re: turbines and customers, but normally good practice to "under promise and over deliver" than vice - versa. Could be that next news will be the appointment of new CEO, who then would be in position to oversee the farm out process for Tembo, IMO, rather than walk into a fait accompli.

Thanks for the welcome guys. At least some volume going through today, but looking forward to a whole lot more in the coming weeks/months.

Limited to �1500 buys, at the mo, following the two significant buys. Not surprising with only 85m shares available, outside of significant shareholders holding.

Feels a bit under the radar this one, and is generating revenue with potential growth and further exploration, so should be a good 2018. The apparent "sell" @ 9.04 was my initial buy.

Its pretty sad to see the value of the sells going through here, which once represented the hopes and dreams of investors in this bundle of TRiPe. �70 here, �80 there - these small values were once multiples of hard earned / invested cash for a lot of individuals, who trusted the judgement of a small number of individuals running an exploration company. The quality of the "judgement" of said individuals is now apparent in the sp of this company, and the level of trading support being shown. N.B. Don't forget the 250 :1 consolidation in any comparisons.

A very strong case of caveat emptor here. The phrase "glowing in the dark" sets me off with severe twitching. Be aware the true sp (without consolidation of 1:250) is about 0.0036p. This is from a 6p high in June 2014.

Is a boom in boom happening?

I know its quiet on here, but we have gained 50% in a few weeks, but today's movements appear odd. 38K of "apparent" sells vs 12K of "apparent" buys and we are up 3% ???? What is afoot? Big ish buys going through recently and regularly, not our normal trading pattern. Not long to end of year reporting, anyone else getting a pleasant warm feeling............or have I just spilt my cocoa.... or something worse ?