Member Info for LEXION

All I can say at moment is OMG
This is huge - probably double what the market was expecting
400 bcf is worth over £4 per share to Txp
GLA

Cant wait for this next week when hopefully we should have our reserves report
Just a little reminder of the potential value to TXP
200bcf at a $3 value would be worth $600m ($480 net) £396m £2.16 per share
500 bcf - World class discovery ? $1200m net £991m or £5.14 per share
GLA

Or buying ahead of possible reserves RNS Monday - or both !! - or even gas agreement signed up also GLA

Back on the way up - just had to pay 124 for a further top up
I’m fully loaded now for sail off
- hoping for speedboat style rather than dingy GLA for an exciting ride

Spread only 3% or less at mo -
get in quick Chance if concerned
I think that’s pretty tight for an AIM stock
When this can move 10% + in a flash it’s not a real concern
GLA

Let’s also not forgot Munch that there are only 10 m shares out there of which almost 6m are held by major institutions ,825000 by the board leaving only 3.15 m with private investors
That is a minute amount and when this moves there will be no way to stop it !
I would guess that a significant amount of that 3 m in free float are already held pretty tightly by us guys on here
Have a great weekend all

Tobin - All I can suggest is a flight out to Trinadad ( although that may not be possible ) and mingle with the drilling boys in the local bars - obviously ply with as much beer as it takes !
A whisper of a tcf would be good
Please share with a few of us lth on here
Good luck

Yes completely agree Haggis nice to see a good move today - putting all of us into a profit situation
Def speculative but think the old Faroe board will be in a prime position to fulfill their ambitions here
Can’t wait for first deal !
I have gone a little overboard here with all RRE profits so do in effect have a free ride
GLA

Depends on the size and complexity of deal
When RRE bought Marathon oil they were suspended for 6 months

Would be doubly disappointed if TXP sold out too early as RRE have done today
Expecting a flood of proceeds to head our way Reserves report just around the corner GLA

Not what I was expecting this am
Half read first line of RNS and thought oh excellent Rre have launched an all cash offer - Wrong way round
Cut the waffle - I’m very very pleased but disappointed also - a journey cut short
LBE and TXP could take my proceeds
GLA

Very exciting end to trading on Friday
Looks like the invites are finally out to the party
I bought in at launch with a little RRE profit and sat on them watching drift down
Sold 50% at 70p in March and managed to buy back in mid 90’s yesterday
A roller coaster for me already although not very productive
Looks like things will change big time when that first deal is RNS’d
GLA

Yes don’t really rate the write up also
However it spreads the word and some of those that are interested will research more and see what a huge company in the making we have here
I’m expecting the daily mail 10% spike on Monday- followed by an 11% fall !!
GLA for a huge July of announcements

Next RNS reserves ? I’m thinking 400 bcf which would be 71mbo
Just having a huge Friday night G and T so perhaps slightly optimistic - let’s say 399 bcf
GLA and have a good weekend

Dana I would think this time we should hear on RNS re Chinook spud - each drill is potentially getting more important to TXP
July is almost here and with PB stating that the gas reservoir at Cascadura is unbounded I believe the reserves report will be enlightening! My excitement is also unbounded!!
It has been mentioned that Cascadura is unlikely to be linked to Chinook so am I right in thinking that another gas source / reservoir could be feeding through to Cascadura?
Then of course we have the gas contract details to come also ...... That will do for July GLA

61 years ago Shell drilled Balata West 7 ( now Chinook ) observed oil and side tracked where free oil was shown while drilling
This was not tested because the geology was challenging
I would like to think that such major advances in drilling and seismic will lead to a discovery this time round
It looks as if the original well site will be used and side tracked further than the original - the 1959 side track encountered 1552 ft of gross Herrera sands
PB has stated that Chinook COS is about 50%
I believe with all that they know it is likely to be nearer 80%
Given that the Chinook structure is thought to be significantly larger than Cascadura
I think a strike here will make all of us very happy ! £400m market cap £2 a share for starters
GLA

I’m lost for words - hugely over invested here - been driving my wife and daughter crackers recently with all TXP talk. Good job I loaded up their Isas
We have another Carapal Ridge Boys and Girls. Enjoy the day all !!!

Thanks guys for all great posts this am on comparisons btw our Cascadura and Carpal ridge. I’m beginning to think that PB has seen results- does not believe and sent back for further analysis
The suspense is unbearable
GLA

A news leak of some sort - Hummingbird/ Cora deal looking very possible
Been in here a couple of months - GLA

Would be no one on here if we ever reached £10 ( £1.8 billion market cap )
- all retired to our little piece of Tobago heaven
From everything we know so far I’m excited that £450 million market cap or £2.50 is doable 1 to 2 years / but if Cascadura turned out to be 0.5 Tcf monster then maybe end of next week
Steady start today - perhaps Canada will pull us up later in anticipation of next weeks RNS