Member Info for MrHopeful

If we collapse, The only thing we could offer, is the working interest we own, but mineral finance would surely be more likely to get a chunk of that if we went into receivership. AM should offer them shares in SLME in exchange for cover of operator costs. If they are not willing to accept, it would suggest they are doing a crap job as operator, as ultimately, if they get good production, the sp will increase and they will get a better return for the shares. They also then get an indirect increase in working interest.

Mineral finance (athol) will cooperate in my opinion. Their market cap is 0.9milliom. That gives you an idea of the scale of their investment here. A default would kill them and after all, they already coverted 375k and the 750k comes from 375k loan notes not converted and 100% premium payable in July if any of the load notes are not converted. Crazy loan SLME signed up to in the first place!! Ironically, the greedy terms they required for the loan is actually harming the sp on the part they did convert. It would be in their interest to save SLME to get any decent return on their investment. Why wouldn't they extend? A simple 6months could see this all blow over. Then re-examine to see if we have decent production underway.

Do we have any idea on the terms relating to a default situation with dominion? Do they offset costs owed directly with working interest or is thIs literally down to a court/arbitration to decide if there is a dispute/default situation. I'm interested as surely dominion will be wanting to grab a chunk more of the field for non payment of costs on this first well. They will then gain from the future upside. This is probably better for them than us paying up, as they get working interest at a discount and the costs owed by us are unlikely to be material to them given the number of drills and interests they have. So the cash we owe is unlikely to be crippling them, even though it's crippling us!!

If the well was dry? What is he talking about??

Agree. Btw the information is price sensitive to all interested parties. As far as I'm aware, our creditor is not suspended. So either k8o and his friends may find themselves wishing nothing was said on here!!!

I just read the 21:18 post again. So k8o spoke to both the board and advisers. Give me a break! They decided to vent off to some two bit BB poster with a minor holding. Whatever!! It in the most likely case this is all false, then I will be reporting these posts. If the information is true, I will be doing the same and taking this up with LSE and you and your insider, if you are not the insider yourself, will be in deep!! While a share is in suspension, the board remain obliged to pass on any material information and the nomad would ensure that this requirement is met. Have a great weekend all and be patient.

I prefer to use rns as my news flow

Agree. Rather odd that neither SLME nor MAFL have stated that negotiations have stopped or made statements that there is any form of deterioration in the negotiations

Also it indicates a good sale on existing assets as they would not commit unless they were confident of lots of cash in the bank to commit to the work. Exciting times.

Surprise. day by day getting stronger and stronger. This is now massively undervalued. So glad the pump and dump crew are not here. News on asset sales next I expect.

This will be minimum 55-60pps

all hype. no accounts, debt of 350k. mms making money now with a fake rise. back down by close of business. well done to those that take 20-40% this morning.

Well, well, Bill Gates. Today came news that the Microsoft founder, philanthropist and green investor has invested in a $60 million round for NEOS GeoSolutions, a Houston-based firm that uses data analysis and geophysical sensors to help oil and gas companies decide where to drill. NEOS’s backers also include Goldman Sachs, Kleiner Perkins, Passport Capital and, now, Saudi-based oil and industrial conglomerate Energy Capital Group, which joined as a new investor with Gates. Read more at http://venturebeat.com/2011/01/19/is-bill-gates-green-hypocrite-neos-geosolutions-60-million/#UlhrtWjfE6Hgtxk9.99

Oversold but impatient investors. Big upside and a huge sale due which has been kept very quiet after the RNS stating 2nd quarter 2013. This will double from here IMO

2% per day!

up we go to 60p! Lots of buying in the background.

We all feel the same about companies in our portfolios. Whether it be unexpected dilution, broken promises, poor results. I have had some real dogs in recent years, from RRR to FTE. From time to time, usually quarterly, I do a thorough review of all my investments and decide who stays in and who must go. However, I never get sentimental. I look at a handful of newbies and just simply ask whether my current position would be improved by switching to newbies. More often than not, the value / promise you saw originally is still there, and if the price has fallen, theoretically, its likely to be an even better investment from the current level. Try to ignore what's happened and ask what is going to happen next. The past, ultimately, is in the past. Your portfolio value is its value now, not what you invested. What offers the best prospects from now! Whether you are currently 60% up or 60% down, its about the %rise now offered over your investment term. We seriously are looking at a 80-100% rise on the completion of these asset sales. GLA.

Into orbit within weeks. You watch guys!!

Rns

You owe us an update