Member Info for LONGWAIT

'I have been sifting through the sector and truly believe this is THE biggest equity value destruction through the drill bit in past 20 years'

None of us knows whether anyone will bid for Tendrara, how much they will bid, or whether the bid will be accepted.

We don't know what will happen.

If there is a bid of 100 p per share, the destruction of which you write will not even have taken place.

I suggest we reserve judgment.

I agree with you.

In effect, many people are shooting themselves in the foot by insisting that they receive a pittance as a reward for staying the course and suffering a massive paper loss.

Your valuation is somewhere in the region of 75 p per share.

If an offer is pitched anywhere near that level, then many long-suffering shareholders could be pleasantly surprised.

If Tendrara is sold for 50 p per share, I would like to see the comments of those posters who advised shareholders to sell at any price, when the price was about 10 p.

But I don't think they will be around any more.

I agree, Tradeemup.

It's hardly credible that in such a large area, TE-5 is the only place where commercial gas exists.

Maybe that's why some posters write as though no gas was found at TE-5 or talk about the gas found there being of little value.

There seems to be a mania for ridiculing everything about almost any company on AIM whose share price has fallen far.

I agree with you and Neil Woodford entirely, but it is the activities of the shorters that both inflict heavy paper losses on us and also provide us with wonderful opportunities to buy undervalued stocks (assuming we have any cash left).

The lesson is that one needs to be very patient on AIM and wait until there is blood on the streets before starting to accumulate.

It's interesting that JP is still calling TE-10 a discovery.

I seem to remember that he was ridiculed for calling a supposedly dry well a discovery, but maybe he is better informed than some of his critics.

I don't believe it!

Someone recently posted on SOU that LTHs should sell for whatever they can get - about 10 p, following a fall of 90 percent .

I don't mind admitting I made a mistake buying SOU shares at much higher prices, but one asset has been independently valued at 27 p per share and I have no intention of giving my shares away.

HUR has not fallen by 90 percent, is in a much stronger position, and is still very undervalued.

So I have no intention of taking the cash 'why' I can, thanks very much.

That's understandable.

I regret buying too - and I wasn't even taken in by the Gherkin performance as I didn't see it until well after I had started investing and was horrified when I did see it.

But don't you think that just as 1000 p per share is obviously unattainable, so too 5 - 10 p per share is plain silly?

Tendrara is not going to be sold for 5 - 10 p per share.

It seems to me that many posters are allowing their justified resentment at the way they have been treated to influence their estimation of the company's value, producing a kind of Gherkin in reverse, where instead of hitting the sky, the company crashes into the ground.

The reality is likely to be somewhere in between.

What will you say if it does reach 21.5 p?

Or would you say anything at all?

'Doubling our money is hard to do on aim'

You really think it's would be difficult to get the price back up to 21 1/2 p?

You're saying that the AIM is rational, John?

As the oil continues to flow, unless the stock market recognises this vast resource, an oil major will

https://twitter.com/crystalamberrb1?lang=en

'And WHEN might it reach 380p? Ten years' time doesn't interest me, having no dependent relatives, and the almost-sure fact that I'll be pushing up daisies by then.'

Far be it from me to contradict you, Double, but since we have been having so much difficulty predicting share price movements, for all we know we may be pleasantly surprised ten years from now to find that we are still alive and also considerably wealthier.

I don't agree with you about RB.

It was he, after all, who long ago predicted a 17 bn POUNDS valuation.

If anything, he now seems to be deramping rather than ramping.

I am relieved it was you who mentioned Carnegie first, as I hesitate to bring up the subject.

I am not sure anything he ever said was of any value.

All I can remember is talk of 'dark pools' which he considered us too dense to comprehend, how he was going to exploit his superior understanding of market mechanics, and his last words:

'Anyway, I'm out.'

He seems to me to epitomize AIM investors: they just can't wait for a company to succeed.

(And that last comment is NOT aimed at you!)

']CA have more than likely been selling a few over the last couple of days, as I suspect ...'

It may well be that CA have been selling.

That could explain the sustained fall from the most recent peak.

But we don't know that for a fact.

Also, CA are bound by their own rules to sell from time to time, inevitably when the price is high, so that hardly makes their tweet hypocritical.

What we do know is MS's valuation and CA's endorsement of it.

It doesn't look far-fetched to me.

'... as it stands I cannot see us getting more than 20p per share (if that)'

The above comment reflects not only the low morale of shareholder posters, but also the remarkable degree to which they are guided by the share price.

When the price was 100 p, they thought Tendrara could be sold for pounds per share, but now it's 10 p, they think we would be lucky to get 20 p.

TE-5 alone is worth more than that.

If no-one offers more than 20 p per share, Tendrara won't be sold.

I thought the board would not be permitted to buy shares in those circumstances, but in any case two directors have bought shares!

I don't know whether Crystal Amber have stopped selling, but the share price looks way oversold.

I meant:

383,235 @ 1.20 p, Gizzard?

383,235 @ 20 p, Gizzard?

Yes.

Our last two posts were almost simultaneous.