Member Info for LONGWAIT

With what we know about TE-5, TE-7 and TE-10 (not very much yet about the last), is it believable that the company could be sold for 19 p per share:

Yes - it doesn't seem quite like a precursor to the company going into receivership, as some posters seem to have been expecting.

That's nothing.

CAB, formerly Northern Petroleum, recently underwent a 100 for 1 consolidation.

One poster says he needs a share price of 660 p to break even.

The current share price is 13 p.

I used to post sceptical comments there (mainly after I had sold at the equivalent today of about 1000 p per share).

Makes me feel guilty, like a former TSD.

I mentioned the fact that my purchase today has lowered my average by about 10 p per share.

Sorry, Dave, if that is not good enough for you, but I am not going to consult a software expert on how to embed contract notes in messages on LSE just in order to satisfy your own ego.

Over and out.

When delays are this long, come the end, the news is never good...

(Mickeytentoes)

You mean you think they're still trying to find oil?

If you want him to go away, Wolfson, I suggest you report him as he does not seem like the kind of person to take a hint.

Sorry about your losses, which doubtless are making TSD's weekend, but when all the uncertainty clears - which I have read should be in July, not June - things may look a lot better, especially for the brave who bought at these levels (or lower).

Yes, I agree with you, FD (14:49).

We really need some further information that could convince the market that the 25 mmboe really is there and can and will be extracted.

Anything above 25 m would be a bonus and any finds elsewhere too, but it seems that if Equinor announced that they think they could find additional oil in another location, the market is going to react, ' heard that one before; pull another!'

I think there probably will be another big reversal in the share price - upwards.

The tricky thing is knowing how low it will go before that happens.

I'm having difficulty discerning what Abatt and FD actually mean, especially FD at 16:02.

I do know, however, that Abatt was cursing his autocorrect, not FD.

It does look as though the market does not believe the 'minimum of 25 mmboe' claim.

People think that if they can't find oil when they are sure it's there, then the same applies to the 25 million.

What about Equinor?

Have they been overconfident?

I agree.

We, who are still holding, are being hammered, but the share price is gradually converging to cash value of 57 p.

The market is therefore saying something like 'We don't believe you've even got 25 mmboe. We think there is no oil there.'

If the final tally is 25 mmboe, then the price will rebound strongly.

If it turns out to be 50 mmboe, it should sail back past 200 p.

To put it another way: does anyone really think that the share price reached 225 p in the belief that there were 130 mmboe?

'I'm still convinced this could be £2 by year end and that would get me my money back with a profit also'

I remember thinking, when the price was 200 p: why isn't it 300 p or more?
Presumably, the market was thinking that maybe there wasn't much more than 25 mmboe and until it had confirmation of a significantly larger quantity, it would stay at around that level.

Now that it knows there isn't much more, the price has collapsed to 75bp.

Does that make sense?

JOG has 57 p per share in cash and, until we are informed to the contrary, 25 mmboe.

Isn't it somewhat premature to be thinking about graveyards?

You really have to expect a roller-coaster ride on AIM, Ajax.

E.g., HUR was launched at 43 p per share, collapsed to less than 9 p, soared to 67 p, collapsed to 24 p and is now 45 p.

Number of shares in issue has increased from 42m to about 2 billion.

The company has gone from strength to strength, yet the share price suggests it has stood still!

I tried to proofread my previous post; I really did.

I meant 'it's obvious...' although I suppose it's obvious ...

Thanks for that information, BB, but even without knowing that, I'm is obvious that HUR's share price does not match its potential.

Some people seem to rate it as if first oil is a long shot and continued production unlikely.

If this were spring 1987, investors would be desperate to buy stock to get a share of the excitement, but in 2019 we seem to be in a post-Credit-Crunch depression where every project is expected to fail.

Okay.

100 p by the time we put the clocks back

and 150 p by the time they go forward

100 p per share based on cash flow for Lancaster alone?

And what if they increase production from Lancaster still further?

And what about other assets?

Looks like more than one pound.

'I actually hoped to be drinking a rum based drink out of a coconut in hotter climes than Teesside .'

You mean you can drink a rum out of a coconut in Teesside?

I had no idea.

I'm afraid you could be disappointed if you're expecting an offer of 100 p or 200 p per share anytime soon.

You may have to make do with a takeover price of 500 p several years down the line.