Member Info for pauldrayton

I think there has clearly been a seller or some sellers in the background for a while now. Interestingly there have been no TR1s though so either an institution is selling and not reporting, or it’s just private investors. I’m sure there were plenty who jumped on the bandwagon as the price started rocketing in June who may now be fed up waiting.

“ Says post-hearing briefs were held on the 30 October 19. One hundred and twenty days took us to the end of February. Allow for the extension of sixty daysm then that would have been the end of April. Even with Covid, the ICSID has been up and running. How far off can it really be?”

That’s what I’m wondering. Remember the initial hearing on liability & quantum was held 18 months ago now, and the post hearing briefs were submitted over 10 months ago. Even if Covid caused a 6 month delay, you’d still expect an outcome by the end of September. Can it really have delayed the outcome more than that when ICSID themselves have said they have worked remotely throughout?

I think we will see something material in the next 6-8 weeks. Brent has dropped over the past week and with the US elections and winter coming there is still a lot of uncertainty in the market. I don’t think LBE have missed the boat yet.

Disappointing end to the week - hopefully just a seller keen to get out rather than an indication of what’s happening behind the scenes.

I think we will see a deal or two announced before Christmas as they are expecting “increased activity” in H2. Coronavirus has delayed things but it can’t be too much longer now.

Surely a massive drop in production too with the Gulf of Mexico rigs demobbed?

Why did oil drop on the inventory decrease?!

Haha nice ramp but I hope you’re right. It’s all gone quiet apart from some largeish sells trickling through.

I wonder if they’re working on other deals which is taking up their time at the moment? Hence the delay in the half-yearlies and the knock on delay in the Toscana completion. Just supposition but you never know.

That’s my take as well fairdealer. Graham Heath saying that it’s just to tie in their financials - i3 need to complete its half-yearlies before the Toscana transaction can complete. They seem to think it’s a formality - let’s hope so.

Toscana Shareholder meeting has been rescheduled for 27th October.

RNS. Sold UOG holding for 2.66p/share.

Not convinced now was the right time but it’s a bit of cash I suppose.

Was it really PJ who fed Fortson? Never heard that before.

I can confirm that Sam has been answering the enquiries from the website contact form. I’ve had a couple of replies direct from him over the past few months. I’m guessing they’ve got rid of VIGO Comms which is good because they were utterly useless and it will save a bit of cash.

I’d recommend going through the official website contact form rather than posting his email on here though given the childish nature of these bulletin boards. If he gets inundated we might end up with nobody getting a reply.

I emailed Graham when they chose the A2 location saying it was the wrong choice and they should have gone for A4 or better still, A3.

If you look at the original seismics in the IPO documents, both Liberator wells last year (L2 & A2) were mapped to miss the channel. Every seismic interpretation other than their reinterpretation said the same thing. They were both very poorly located wells. If they’d gone for A3 first up this could have been a very different story.

Looking at the Sedar records it looks like I’m wrong and that was the meeting. Perhaps somebody can ask the company what’s going on?

What’s the annual meeting for? Is that their AGM?

I thought the meeting for the shareholder vote was scheduled for 15th September so this is something different?

It will be nice to discuss something other than how much longer we might have to wait!!

Come on Helge, get these deals over the line.

From OllieRowe on Twitter for anybody interested:

“Emailed the company this week and received a generally positive (and very quick) response. Obviously no specifics but working hard and expecting 'increased activity' shortly. Very much in the news window IMO”.

Yes it’s difficult to know what’s going on and they haven’t said a lot since IPO really! I suspect if there were major problems then the big boys would be getting out. On the flip side there isn’t much buying pressure either so perhaps it’s all just taking a bit longer than anticipated.

A 20k chunk offloaded again this morning, I don’t think the large seller is out just yet.