Member Info for leslieby

They must have been confident after due diligence if they are coming on board. Happy days.

Don't they issue convertible bonds?

Where did that come from TT.... Out of the blue?!?

Morningsun/Woody - recs for both replies. A waiting game then...........

Surely the earlier comments from DS reflects well on his knowledge of any 'funny bu66ery'. He's said the negotiations would be 'horrible' because he has significant experience and a background in these 'continental' dealings.

I'm content to leave all the detail to him - particularly with the knowledge that an SP of 20p is very attractive to him and other option holders.

Irish - have to agree with that. Certainly he must have thought, as did I, that this letter of intent would have underpinned the strategy. I mean he's spelt it out for us all........I wonder who benefits from what appears to be a restraint of the SP?

Razel, some had exactly this conversation recently here. FWIW, will you be happy to see your original investment returned as you stand now? Personally, I will - without adding more and increasing the exposure. Perhaps it's more sensible to sit on your hands and see how it develops...and be glad if you gain parity on the sum involved. Btw, i'm also 80% down!

Sorry I was typing as I listened.

For clarity.

The need to revisit the production plan as a consequence of the new data.
They can't carry SNPC for ever and are pleased with both the 2nd repayment and the commitment to negotiate the acreage % against the outstanding debt.
He went onto to say the debt, if converted to acreage would be worth far more than $30m at market rate.
He finished by adding that he felt the current SP is not representative of the company worth - in his view of course.

For those who aren't able to listen at the moment (thanks to Woody for pointing me a the right one).

Highlights
103c Oil at surface.
36api high quality crude
Thinking about production plan
SNPC 2nd payment received early April
Can't keep carry them for ever - debt exchange in principle
30% worth far more than $10m
SNPC provided perfect response as equity is adjusted to complete location
CPR - delayed due to include more recent information (critical data) to be included
Drafts in circulation, interesting conclusions expected
License negs going very well - Docs show rewarded to AAOG (not seen formal terms yet though)
All going to plan!
Good luck all.

Oh ffs - please ignore that. I'm watching the interview of 29/03/19. Apologies.

(DS) Initial results next week are possible.

Absolutely not. I've tried that before and basically thrown good money after bad.

Like many, I'm way down on this and the 'sense' of bring down my average would be sound in any other lifetime - but not with this guy at the helm. We simply do not know what's next. For me then, it's sit firmly on my hands and hope the SP rises on the sale of the asset - which of course, is the only other constant in this debacle.

Mon 10:23 post..........

.............It is also relevant that the SBL fracking equipment needed for the Mengo is still in Gabon (delays in availability are a normal if annoying fact of life in the oil industry).”

Large trade just posted. Can never really tell if sell/buy of course, but the mere fact that either way the shares are now in potentially sticky (ier) hands might be a good thing.

TA Oiltap - Sometimes I wish we could add emojis on our messages to convey the intended slant.

I agree of course. I'm very hopeful that LR is never employed again - anywhere.

In the meantime and like others I suspect, I'm a little too far gone to sell out now (-83% and no trading cash available), so will wait it our in the hope that the asset value is eventually realised. Good luck.

MC must've seen something positive to take part - or LR suckered him as well!

GP/Bees - how is the market size calculated? Happy to do some reading on it............

Bastard 100k seller gets his/her way again!!!! grrrrrrrrrr

Even Mr or Mrs 100k is having trouble keeping a lid on this now.

That would be a blinding start to the weekend!