Member Info for LONGWAIT

Yes, JTF.

Well before 31st October suggests no later than September and possibly even by the end of this month.

Can anyone explain why the emails from Brian mention 31st October ?

But that doesn't account for much larger expenditure than that and over a period of only about eight months.

By the way, I notice that the LOGP price continues to show resilience compared with PVR, and wonder why.

'Whatever bids we might get will, imo, be at least 3x current value & likely a bit more.'

I can't see SOU recommending a bid of just 25p per share, having said that TE-5 alone is worth about that much.

I can't do that, Daltrey - mine are held in a nominee account.
But I agree with you.
Double could be right about further share price turmoil lying ahead, but the fundamentals remain the same.
If LC is successful, we could be back in the 60s.

If it's successful, I wonder what effect that would have on analysts' valuations?

This reminds me of comments on PVR/LOGP that there had to be something wrong with the oil at Barryroe because otherwise someone would have farmed in.

Why do you think permission will be denied, Ranger?

Maybe you're right, Double, but the pound has already fallen heavily and it remains to be seen whether the doomsters are right about the damage a no-deal Brexit would do to the economy.

There is also the possibility that some kind of compromise will be worked out because a no-deal Brexit isn't in the interests of either the Europeans or the Irish, either.

Simply continuing to say 'Nyet' 'Non' or 'Nein' will not achieve anything.

Foreigners who are not yet invested in oil shares here will see a double (no pun intended) opportunity: a low exchange rate and low share prices.

'The assets aren't what everyone has been led to believe.'
What prompts you to say that - the delay in announcing a farm out or the low share price?
How can you know what's being discussed behind closed doors?

Quite apart from the cash burn being excessive, the RNS implies that $1.5 million can be expected to last four weeks!
That is, pro rata, cash burn of $19.5 million per year.
I think the warning about having to raise capital is a veiled threat to APEC to raise the $10 million from elsewhere.
How much longer can this go on?

The emails imply that the deadline for receipt of bids has not been reached and no bids received.

There is, therefore, no need to issue an RNS in order to update investors.

Some of us actually get our kicks by other means than seeing live animals ripped to pieces.

Some of us eat vegetarian spam fritters ....

There could ultimately be a shock development - such as a Middle East war affecting oil supplies and causing a spike.
There could also be a dollar crisis, which happens from time to time.
The pound usually gravitates to $1.45 - $1.50 (as it did just before the referendum in 2016 and again last year) but sometimes reaches $1.70 (as it did in both 2009 and 2014.)
The longer it remains low, the stronger the UK's export market and the closer a recovery in the exchange rate.
As for HUR, this low share price cannot last forever, but I don't know what it would take for it to break out.

On discuss the market, the latest post asks where the share price can be expected to be when Lincoln is producing.

Well, we know the answer to that: in the range of 40-65p because of concerns that the next drill could fail / the oil will dry up at Lincoln within six months / something will go wrong at Lancaster / oil will be replaced by batteries within six months / Kerogen will dump shares on the market / CA will have to reduce its holding because it's too high / the price is not permitted under LSE rules to cap 67.5p ...

One difference between the marketing of Tendrara and the farming-out of SM is that SOU have made clear that the alternative to a sale is, in the first instance, to obtain financing to develop TE-5.

As some posters have commented, SOU would also have to obtain finance to continue exploring Tendrara.

Potential buyers could wait and see, in the hope that SOU stumble, and then try to buy more cheaply, but they might then miss the opportunity to buy at all.

They must be aware of that risk, and if there are more than ten interested parties (if they aren't interested, then why are they talking to SOU?) there is surely a chance that at least one will make a reasonable offer.

OMG.

You mean you missed all the excitement?

You don't know how lucky you are!

But seriously, have more than ten companies been talking to SOU about dodgy seismic, a vast area containing no gas, a worthless asset, the total waste of time that so many posters assured us sums up Tendrara?

If so, they must have been strange conversations.

Maybe it was a spam list!

'There has been a lot [of] support for our technical evaluation...'

Does that mean general acceptance of the seismic data?