Member Info for redeyemines

The mm's have been very patient, and have waited for the PI's to commit their funds.
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-With no further support from ii's at these levels, the field has been left wide open for the mkt to test the resolve (and fire power) of the pi's.
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---Well engineered mini rallies have dragged in fresh punters, and additional funds from existing holders.--Once that buying started to run out of steam, then it was an easy move to drag the SP back down again and leave people locked in.
-Another assault on the 18p level has just about held again (for now), and if it does hold, they will just repeat the pattern,
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==Let a mini rally build, suck in more money at higher levels, and then drop the price back again--.
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-Why are they doing this ?
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-Like everything in the SE it's about "making money", and with no interference from ii's , they are free to play their games (all the mm's now doing the same), and so far it is working well for them.
--A good CPR failed to break this cycle (on it's own, it was never going to)---so now Funding, JV's, or a Take Over is what's required to change the picture, while we wait for production and cash generation.
-Without news on those BIG fronts, these games will continue, and each round will again test the 18p "base".---With time on their side (3 years at least), and in the absence of any mayor developments, the mkt will always win.
-Loose holders will be squeezed out, and the limited supply of fresh PI cash, will open the door to ever more aggressive moves, and i feel it is only a matter of time before that 18p level is abandoned.
-If that 18p level is broken , then mid teens still looks on the cards , and at those levels we could see some support from the insti's-although i'm not expecting anything too dramatic from them.--They like the mkt, have all the time in the world, and will be sitting on the side lines biding their time. They already have very healthy positions, and may not feel the need to either support the SP or add to what they have, unless something mayor happens.
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-When large lumps start changing hands, that will signal that we have reached the right level and it is game on again.
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---Until then, its more of the same, and plenty of time to find the right buying opportunity.

Shell T&T (Transport and Trading Co), buy, process and sell oil from all over the world.
-They know, and want, the Bonny light Oil produced from OML18, and as Callas has just pointed out, we have an ongoing contract to sell our production to them.-----Just buisness.

Evening Pappi, certainly looking like we will need a change of PM in Bangladesh before we could get a favourable outcome.
--Although there still seems to be plenty of optimism among the major shareholders, as they continue to take large amounts of stock in any placings, so iv'e no doubt that things are happening (all be it slowly and quietly) in the background that are based upon that same hope.
-The trouble is that the next elections in Bangla are in Dec 23, --a full eighteen months away.
So unless Shk Hasina retires early, we will again have the problem of GCM running out of cash and looking to raise further funding, before a new PM is installed and ready to face big decisions

NNNNOOoooo----not another bloody committee report---------------What on the earth have they done with the other 3 mill reports they have had over the last 20 years
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-AAAAaaahhh

-Eroton have cut production back to a bare minimum, of 4/-..6/- bod.
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------"From March 2021, even higher crude losses were being recorded on the NCTL (80-90% of injected barrels) which encouraged Eroton to adopt a strategy of minimising production and deferring well activities pending the completion of the ELI owned ACOES"
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-So now it will be interesting to see how much production we can achieve by just using these barges.
-I had a quick look at those sort of barges and they typically carry around 10,000 boo each, and i'll assume we have access to a few of them, so we could well be seeing quite a strong increase in production/revenue already, --even without the pipeline being operational.
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-Things could turn on a sixpence here, from low revenue and cash, to healthy cash flows, even without the need for the pipe.
-So whether that pipeline is open in Q3, Q4 or even Q1 23, it doesn't mean that Eroton (and then us) are not generating good income.

Following completion of the MLPL Reorganisation and the ELI Reorganisation, it is the Company’s
intention to evaluate the potential for and benefits of, in due course, seeking a listing of its Ordinary
Shares on the Official List, Premium Segment and the admission of those shares to the main market of
the London Stock Exchange, subject to satisfaction of all regulatory requirements and approvals.

Forget all the IF's AND BUT's--this deal is far too far down the road to turn back now.
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-It's clear that nett production (or should I say, the lack of it) was at the heart of all the problems.---------With oil being stolen on an industrial scale, Eroton simply stopped producing, and cut back to just 6000 bod or even less.
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-Now lets see how quickly they can get those numbers back to to 25/-...50/- a day to match the opening of the pipeline.
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-This is what really counts, so cant wait to hear some details.

Normal legal caveats

Darkini-----i know this will sound like a bit of a cop out---- but i just don't know at this stage.
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---If you look at the trading over say, the last week----then it's obvious that the MM's are not seeing institutional support, and so they are playing with PI's------
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-Every rally sucks in a few more, (and drains their pockets), --and as soon as the buying peaters out, then they drop the SP, leaving people locked in.
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-My guess is that the MM are running a short position, and they will continue to do this until something changes.
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-Next week could make or break the 18p level----------------if it's broken then we could see mid teens-----if it holds then 18-20 is the range again until we get solid news.,
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-Sorry it's not much help---but it's how I see things at this stage.
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-Would I trust a Monday rally----no.

That would be great news at this stage Jimmy, and would change the ball park

Capx, ------------"what does the SP do following the CPR"-------that's an interesting question.
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-Of course it depends on where the SP is at the time---------so lets assume it's around this (18p) level.
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-Now lets have an honest show of hands.
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-They come out with a GOOD CPR and the sp opens up @ around 23--26p
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-Hands up all those of you that will go into the Mkt and buy.
----Now
-Hands up all those of you that will sell.
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-That has answered that --
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-You see the trouble is, we have "all but" had the CPR.---Gas gas everywhere and then some more gas, --all we don't know is the exact numbers, ---but I expect Jimmy's numbers wont be too far wrong-----so in reality it's already there and in the price.
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-The ii's have their positions and wont be jumping into the Mkt, no matter how great the numbers, ---and PI's are up to their cash limits and looking to make (or take) a profit.
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-So where to now------does the sp need to fall before the II's come back in again, or will they support the 18p placing level------------This remains to be seen.
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-Certainly, if the SP gets down to say 16p and THEN we have a good CPR, we would almost definitely see some II buying, but not beyond, say 20-22p.---Any buying beyond that level, at this time, will again be just PI's.
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-Monday could be a good day to test the SP ---a UT trade of 17.70p at the close, points one way, ----but the normal Monday rally away from the placing price, could point in the other direction-------we will have to wait until mid-weekish to see the true trend.
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-But with PI's lining up to sell into any CPR spike----24p looks about the best we can achieve for the moment.

Sorry BS---perhaps you should complain---- I mean
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----------"don't they know who you are "---------
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---how dare they not have this all done according to YOU'RE timetable.
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what are you talking about BS

Alaric, ---afternoon.-----No i do not read any of the other boards (i use to be on II until they messed around with it).
-This is indeed going to be a very complex reorganisation---(an RTO.)
-Like you I think this is a done deal now and its just a matter of crossing and dotting all the loose ends.
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That said, it should make no difference whether we make the 24th deadline or not.---If this deal goes through then SLE will cease to exist, and so the listing will become irrelevant.
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-I am (prob like yourself) expecting a brand new company to emerge from this, and that new co will be applying for a listing.
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-Having said that, we will probably need an EGM to gain SH approval, which will precede any new listing. So not too sure when trading will start in the new co.
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-One thing is for sure---like all of Oisin's deals----it will be multi layered and will take a few re-reads before you get a good picture.
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-No real need for a 7.30 RNS ----4.30 will be just the same and give us the W/E to discuss things----lets eh.
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-There's plenty of key parts that I will be looking for.

Big order disclosed at the end------or just a mistake ???

Good RNS and looks like they are doing their best to accelerate "first gas".----Maybe their "most aggressive guess" of first gas by 24/5 will be met---lets hope.
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-Either way, this must indicate that a good CPR is on the way shortly, and a spike in the SP.
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-Maybe a great opportunity for a quick trade.

-Rate rises in the US are said to be heading to 3-3.5% (this year ???), and i don't think we will be far behind them
-With inflation tipped to top 10-11% and interest rates starting a steady climb, the equity market is in for a rough ride.
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-Today I saw the post of-- "why we keep drifting?"---so it's worth repeating a few points to put our SP into context.
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-The first thing to get clear is that production of our Gas is the number one priority, and that in turn will finance the exploration and development of our other projects----gas production FIRST, everything else follows on.
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-So when do we start producing and earning ?, ---lets remind ourselves what the company said in its pod cast.
-----"First production should be at the end of 2024 going in to 2025---------"is our aggressive best guess".............. (or words similar to that------it's not on the replay)----"we need everything to work out perfectly for this to happen"
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-So 24/5 if everything works out perfectly.----but life never does work like that, and it may be best to give them some leeway and start looking at 25/6 (that way you can only be pleasantly surprised if it comes any earlier).
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-24/5/6 is a long way off still, and in the meantime it looks like we will have to contend with a recession------------so where does that leave the SP.
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-I know iv'e already said this a few times and I really don't want to harp on it, ---but maybe Char's SP is a little in front of itself at this stage.
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-Great as Char's prospects are (and they undoubtedly are)--2024/5/6 is not 2022, and Char are not immune to market forces.
-If mkts continue to tumble some funds will be forced to cash in some of their profits in Char to help ease the pain elsewhere.
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-Institutions have been fed three large placings and so have all the stock they need at this stage---they will not be heading into the market to "top up", even if the CPR is spectacular---------funds by their nature have deep pockets and long patience, and either time will have to pass to bring us nearer to production, or something major will have to happen, before they will feel the need to start adding to their positions.
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-PI's on the other hand will always have a need for their cash, ---most are now fully committed, and many will not be able to sit on their hands and ride this mkt downturn.
-You can already sense the anxiety among some and as time drags on others will start to feel the same.
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-A good CPR, as already predicted by Jimmy and others, will only cause a small spike in the SP,--- and a "GREAT" CPR will just cause a bigger spike in the SP,--- and both these spikes will be sold into (probably by PI's).
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-This falling equity mkt will really test Char, and 18p needs to hold, or we could see the middle teens again.
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-Unless there are any other major developments , then there will still be plenty of time for further buying opportunities over the coming year, ---and as things stand, the SP will drift.
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i have tried but did not get a useful answer.

"Is there a 12 month limit on AIM suspension? is that why the 24th June has been stated?"
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Nailbob----i'm sure there is some sort of time limit for a Co to be suspended before it is delisted, and I always thought it was six months.
-If this deal goes through, then SLE as we knew it will no longer exist, and a new Company will be listed.
-So with the amount of time SLE have been off-quote, then I'm pretty sure this deal will be going ahead, and we will all find ourselves in a newly listed Co.

Maybe it's just a Hedge Fund taking profits to offset losses elsewhere.