Member Info for legache

Ha - apologies for stating the obvious!

Way more sold than bought today. Seem to have lost momentum. Back to 2.50 to rid.

It all looks very good to me.

I particularly like the sentence about "to monitor opportunities that would enable us to increase our asset base in North Africa."

Sound pretty specific to me. Not too many opportunities in that part of the world.

I would like to see the cash put to use with another Circle esq acquisition.

Look at the 5 year chart. In a time of strong oil prices, the Peter's have done nothing. For years. However, I'm not a bear and the reason why I'm here is the basin. The area is some of the best on earth. I don't agree with jimarillo in that the longer this goes on the stronger position we are in. Ultimately the data room has been open a long time and sooner rather than later I would like to see a proposal... There is a risk that pel27 could be left on the shelf should other drills come up duds, so the reverse is also true of the comments below.

Within the next few months...

I think my kidney just imploded...

There's a lot of newbies who don't understand this has been a lifestyle company for years...

When I'm back to b/e, i'm outta here.

Bought the dips? Have you seen the 5 year chart?

I've got every reason to moan. The SP is on its knees, my investment is underwater and we get almost no comms.

As for you comment about the real world, I do actually have experience of these things and I can tell you, all the advisers get paid before joe bloggs shareholders does. Once all the snouts have had their turn, then the scraps are generally thrown to shareholders. At least thats my experience [i was an accountant, working on various M and A deal for major multinationals]

Jimrillo - hardly news is it, that paragraph!

As I keep bleeting on - the biggest risk is a no deal, so maybe they could have expanded to allay any fears. Perhaps, "there are 10 interested parties currently with their snouts in the data room and a deal is expected to concluded by X"

Coms has always been awful with GBP.

Zebbo, ultimately its the peters who are owners of this business, so they are responsible for who they appoint.

It isn't looking like Stella can get this over the line is it? I don't blame them, I blame the judgement of the people that appointed them.

Well, if there's not any positive RNS coming from the data room anytime soon, then it would signal to me a no deal.

I am probably giving this investment another few weeks. I've been here for a long time and I am beginning to think the Peters are not capable of getting a deal.

haha. 1+1=3!

I'm sure they are just not participating.

On a positive note, sp seems a bit stronger recently.

Aye - the bid crept up during the day.

I could buy max 200k with my broker. Thats about 4k ish... not much!

Outrageous spread.

I can sell my entire holding at 2.01, and buy at 2.20.

Really?!

AIl indications are were are going to get a deal

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I'm not sure i entirely agree. Like Brexit, there is a major risk of a no deal here. There have been no concrete indicator that a deal is in the offing?

Nah. Promise.

Those comments in the quarterly are enough to keep me stringing along for now.

Although the longer this goes on the less faith I have in the BOD to conclude the farmout.

Yup - I've decided to see this one out. If nothing by September then i'm outta here as the window for a farm-out decent would have well passed. If they could successful conclude the farm out, it has to happen before then IMO.

Deals are normally done much quicker than this. We have had plenty of time to wine and dine potential farmers. I am slowing going to relinquish my holding from here on in. Not impressed with capital being tied up for years on end...

When we couldn't brake 50p. Same stuff was going on with the shares price (you could sell 100k's in one go, but couldn't buy nearly as many). Looks like a similar scenario 20% albeit higher.

One thing's for sure, no one's going to let this leave the station until they've milked every last penny from it...

I absolutely get the value here. But something is always better than nothing. At the moment about equal to cash and values the business at nothing.

In my long experience, I always have found it better to have a bird in the hand than 100 in the bush.