RE: RNS10 Dec 2019 21:38
Similar to you Ponkey as in only invested here since serenity discovery with a view to learning about this sector - the "transformational event" that may have saved the year. Don't have your experience was a bit carried along by Friday listening to others and trying to read the RNS from May, November and December as directed, without all of them being on LSE even and in 20 mins. Not got your experience was not 100% sure and awaiting these TR-1s but the fact it went up 50% seemed to affirm it was big news. It was a bit confusing about who or what Bybrook Capital do as "credit fund managers" or Lombard Odier either. Seemed like maybe BP was one of their clients being cloaked but once you read the June RNS it became a bit clearer they had been mentioned before (though not for ages on this board). I thought since the placing was announced this share was being played like a fiddle by the city not by the rampers/derampers so I stuck with it. Two big events seemed pertinent the placing day when there was huge buys all day before it but the price didn't move. Then there was the liberator 15ft RNS when before that RNS all day there had been selling and the price unlike on the buys for the placing dropped off a cliff before anyone invested had seen anything. So little choice but to become an LTH really watching on. I have averaged down to 21p and remain hopeful. The company does not seem to have given Liberator fields up as lost, either by reducing to 1 well or thinking it is positive news to indicate oil retained elsewhere, I seem to gather. So they had funding set up for a better Liberator result and it seems they might have spread themselves a bit thin and failed. Or maybe by drilling Serenity as well they were managing it all well by instinct in the end as it's the silver lining. Been a great learner anyway and like you I think there is plenty to play for including a JV on Serenity or possible takeovers. Liberator was going to take 100 million to develop without dilution on the senior loan basis so maybe things have not changed that much and dilution might not be certain. I did note in early year RNS 500mil barrels were being talked about whereas now it is 600mil barrels so might have even improved! Though more than most shares this one is open to different opinions, even by experts of which I am not. I think a good management could get out of this situation and deliver value to LTH.
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