Member Info for lemmink

Bought 5000 at 38.5p holding 65,000 *** Re Pok1 results due ... still no idea what upside could be, but I reckon the Pok licence area is 25% of CAD by intrinsic value to shareholders ... not sure if all of that stands at risk on the drilling results or not?

http://www.kyivpost.com/gallery/album/966/ *** Apparently Russia is charging Ukraine $295.60 per mcm gas, potentially rising to $400 per mcm later this year. * The contract is viewed as onerous. * It equates to £30 boe (rising to £40 boe?) ... using 1 mcm = 5.9 boe and $0.6 = £1.

Perhaps it's the long term advertising revenue prospects causing this relentless fall in sp ?

Hi, yes its a little quiet here.. things seem to be going ok... £1 + as an aggressive valuation?? ;o)

Guessing really ... but I think it means one of the three underwriters (RBS) now holds below 3% ? ... ADVFN and iii message boards quiet (or dead!).

J Pither, former Chairman & 15% shareholder bought 100,000 shares recently ... at 15.75p I guess.

Allowing for working interests, but not for ENI stake: production is 52.2 mcm gas, 9 mcm condensate & 9.5 bopd. * ie 317 boepd + 9 mcm condensate per day ... circa 400 boepd? (using 1 mcm gas = 5.9 boe)

Couple of months worth left? ... then whoosh! to 11.5p for xmas ?? !

limit order for 250,000 shares at 10.26p was filled today ... hopefully some resillience to the SP arround 10p will persist until the overhang clears ... GLA

5% stakehoder bought approx £300K worth at 10.17p each (If I've read the Google finance trade volumes right for Aug 23rd) ... + buyers seem to be standing off today?

I was using £30 per boe for a while ... It might be possible to get a new estimate out of the new set of accounts?

1000 cubic meters = 35,315 cubic feet * 1 boe = 6000 cubic feet * 1000 cubic meters = 5.9 boe * ... taken from old article by motley fool ... "facing up to boe"

20 million euro fine from ages ago still being imposed, though subject to further appeal? + If I've read the trades right some one chucked £200K in at £1.58 earlier ... MEC could be cheap despite this + the economy stuff? ... Rightly or wrongly I'll keep the cash!

Only had a litle look but numbers seem pretty good, particulartly EPS which seems to point to sp of 20 -30p ?? * NAV easier to calculate .. circa 13.75p ? after RI ... rising inventory levels are the only point of suspicion IMO, ie have they flattered earnings by not writing down unsold stock? ... does'nt look like I'll be trying shorting any time soon.

Past performance may be unimportant with a rumour of recession looming. * I think the market is in a foul mood and will wish to either lock in the underwriters or skin them alive, so sub 8p pretty sharpish IMO ... Never tried shorting ... might open a spread betting account if I manage to call this right ... GLA.

Not invested, just looking... * Gross proceeds £75.2m, net £70.8m ... therefore underwriters fee = £4.4m * Using mathsprof's 68% take up ... underwriters bought shares for (32% of £70.8m) £22.656 m less fee of £4.4 m = £18.256 m. * *** conclusion *** The underwriters could sell their shares for 8.05p each without losing money IMO.

Sold at £1.85 ... lost lots ... had enough, dunno if its right thing to do or not ... best of luck to anyone sticking with it?

Can't see it doing £2.50 again any time soon ... anyone still like ths share?

RNS 9th Aug ... seems like its standard practice to give new CEO's 1% of the company on the cheap if the SP turns a corner ... this is dreadful, it trivialises the risk of 'proper' shareholders. * Re current SP ... Still holding ... hate to admit it, but current price of £1.86 seems fair enough under the circumstances (poor ish results + macro economic stuff ratcheting up the risk of dutch recession etc?)

Equity per share after disposals is 85 - 90p (bit of a guess) * Debt per share circa 50p ... total debt did fall a little bit (1.5 to 3.7p per share, another bit of a guess) * EPS ... Adj Continuing opps pre excep 5p ... basic 3.4p ... total loss per share 1.2p ... take your pick! * Principal risk ... exposure to effects of Gov't spending cuts * Outlook ... static / challenging, but order book is better than in past two years and expects to give progress report on solar pv related stuff at time of AGM. * Statutory accounts ... not yet out. * *** DEALING ATTEMPT *** Limit order expiring 16/09/11 set to sell 95,000 shares at 26p ... I have not had much success with this tactic so far! ... holding 295,000 shares