Member Info for pauldrayton

buffit that's an interesting question because we've heard nothing on that front yet.

If the Italians are expecting a judgement soon then it suggests that there are no outstanding queries their end, and Rockhopper have confirmed that they haven't received any final questions either. So it might be fair to guess that proceedings should be declared closed soon, with the judgement (award) following thereafter.

RKH have said they will issue an RNS when they hear from ICSID that proceedings have closed so hopefully we will hear something soon. It does seem to have taken an awfully long time.

Not able to buy any now - makes a change from not being able to sell any I guess!

Thanks for posting Mogger. Not sure how much we can read into his comments but he also confirms that they are expecting a judgement soon.

Ignore me I think I was looking in the wrong place!

As an aside I opened up the Longboat website and they seem to be in the process of updating it with a slightly different format. There is no longer a link to Major Shareholders on the Investors page (has somebody here been in touch with them and asked them to update it?!), although it is still there if you Google it.

Thanks - sorry if I’m being stupid but I don’t quite understand that list. The holdings overall add up to over 100%?!

Thanks, that’s interesting. Do we know how big the free float is at the moment? You’d think another large holder must have sold in order for them to pick up 10%, and volume has been pretty high in recent weeks but there have been no TR1 notifications.

Are you saying Marlborough have 10% of LBE?

Sounds like brinkmanship with Serenity but encouraging nonetheless. Has there been anything from RSRUK regarding Tain recently? I’m guessing they or maybe Viaro would be the most obvious frontrunners.

You heard anything from Craig David daveri?! It’s been a long 7 days!

Possibly Mozza. I contacted the company just to see if they would say anything and they said that they remain confident in the strategy and the opportunities, and the interim presentation remains valid. Probably just a stock response and as you’d expect but at least it sounds like nothing has changed since then from their perspective.

I’m hoping that the delay in the results (compared to last year) is a sign that they’re working hard on something else, but who knows? I’m sure they will get something over the line at some point, just hope it’s worth the wait. As you say there may even be more than one deal they’re working on, which could mean a couple announced either simultaneously or in quick succession.

Welcome viper. The company are just as frustrated as shareholders, although they are the ones in control! Let’s hope they deliver something soon. It sounds like they have been busy but who knows how close they are (or aren’t).

The market cap is pretty much at cash levels so it would seem low risk at the moment, but it’s almost impossible to sell at the moment!

The management know what they’re doing and want to get this right but commodity prices have risen significantly in recent months so who knows who currently has the upper hand in negotiations. I think most oil companies whether selling or buying assets will have a longer term view on prices rather than looking at the spot price today so it may not make much difference.

Yes it’s all a bit strange. A few buys but you still can’t get a quote to sell anything.

It may be that the BoD are trying to get something over the line (Serenity farmout?) before updating the market. The cash flow from the Canadian assets may assist if there is a shortfall in an offer from any potential partner so that could be a reason for delaying a dividend announcement? Keeps their hand stronger than if they promised something to the market.

Pure speculation but you never know. I doubt much has changed in Canada since December other than the oil price rising.

Let’s all buy another 10k each then ;-)!

Interesting theory Whirlaw, and it’s something that definitely goes on. I was wondering if something strange is happening - it’s almost as if a large holder (or more than one) has given an instruction to sell as many as possible at 70p(ish). It’s been going on for a few weeks now and is pretty relentless.

I do understand that some private investors are probably selling out of boredom/frustration but the volumes have been pretty significant for Longboat especially given the free float. And yet the price has remained in range.

No TR1s issued by anybody selling or accumulating thus far though.

I suppose we can only hope that they are dotting the i’s and crossing the t’s on something. Final year results were early Feb last year so maybe they want to announce a deal before issuing 2020’s results (not that there is much to say!). Fingers crossed they are busy with legal work which has delayed them slightly - you’d think after 15 months of discussions and negotiations they should have made some progress!

Lockdown probably hasn’t helped but they can’t keep making excuses.

It’s been a strange couple of weeks. Volume seems to have increased quite a lot but it’s still been hard to sell at times, yet the share price hasn’t moved significantly in any direction. There is no indication of anything happening behind the scenes in the share price but what’s caused the increase in volume?

Must be a large sell order because I have barely been able to get a quote to sell all day.

Looks like the sellers have returned. Can’t get a quote to sell at the moment and they’ve dropped the ask to 73p.

More & more people getting fed up with the wait I guess. Results due soon I think so perhaps we will get an update on progress then.