Member Info for LONGWAIT

And did you and your friends agree that this wouldn't be the first time a share price has risen 200 - 1400 per cent following a 90 per cent fall?

Thanks, Jones.

If the seismic data has to be collated all over again, who is going to do it, and why have Rothschild been brought in first?

Is it to find a buyer who will agree a price subject to favourable new data, before knowing how good the data are?

Well, it seems quite a few posters have thrown in the towel because they don't believe the gas is there - because they think the seismic data are flawed.

I wonder whether any prospective buyer might commission further data before making a move.

How bad would qualify as 'badly'?

38 1/2 p per share (my break-even point)?

It would be an anticlimax and would leave JP still looking foolish, but if it all ends with shareholders recovering their investment, would that be a disaster?

Not sure what you mean by a trade account.

Presumably, SOU would keep its entitlement to 'royalties' until it is taken over, in which case the new company would inherit the rights.

There aren't many medical doctors in whose hands I'd be willing to put my life.

And certainly no Doctor Shipman or Bodkin Adams.

I agree with you, Crudehope.

The corollary to what you said about two failed drills is that it always looked questionable to announce merely a 3-drill programme to prove the seismic data.

It could be that the data is wrong and every drill therefore doomed to failure, but that seems far-fetched.

Like you, I wouldn't hazard a guess as to what anyone will bid, but when posters say it's worth derisory amounts, I'm sceptical.

I don't see the point of pre-empting any offers and selling at 10 p or 11 p.

'Seismic finished for Sale of Tendrara license.'

You mean there is new seismic data?

Looks as though the BOD are confident they can get more than 10 p per share - maybe even more than the 25 p that several posters think would have to be discounted down to about 15 p by any bidder.

We'll see who is right in due course.

'Sidi not in sale (so far). All proceeds sale to shareholders minus debt( 25 million euros and any other costs)'

Would that be with any tax deducted at source?

Thanks, Jones

If the quality or the seismic data is so obviously questionable, why are Schlumberger apparently content to continue drilling?

Don't know whether Malcy will be at the AGM, knocking back gherkin shakes, but he's laid back about prospects today.

It seems to me that, financing apart, it's largely a question of whether the seismic data are reliable.

Some people are saying they are not, and that that explains the successive drill failures.

If a successful drill ever happens, then that will suggest it was just bad luck, not bad seismic.

Only gherkin-flavoured milk shakes will be served

Yes - you may well be right, but my question relates to the valuation of the company.

'I still maintain, sell whatever you are holding whilst you can'

(Tradesmakes)

What do you think about TE 5 - 7?

JP predicted that most of the value at the LE would come from seismic, which would be validated by a successful drill.

If there's no successful drill, then there can't be a Liquidity Event.

And if the seismic data are fundamentally flawed, then there's nothing.

Does that mean that Schlumberger hopes to partner SOU in oil exploration in Tendrara, even if TE-11 fails?

Of course, you're right, Londoner, about the hysteria involved in the promotion of SOU, but how do you explain Schlumberger's (continuing) involvement in the SOU project?

Thanks, Ericnat.

That means TE-5 less debt should be worth just over 24 p per share.

Even if the rest of Tendrara and whole of Sidi Moktar were assigned zero value, the shares would be worth 24 p.

In that case, a price of 5 p looks extremely undervalued.

What would that tell you about AIM?

'Te5 horst is currently worth more than 5p a share'

What about debt?