Member Info for Sageman

Silverlight if the market liked it the SP wouldn't be 1.3p! As you say the SP is doing the talking.

Silverlight, in that case read the RNS's since March. Even in that short time GL has proven he can't deliver anything on time. If you bought in March believing that 1st gas would be 1st of June and now perhaps 18th July, as a percentage of holding time that is considerable and all the time the hedge ticks. I am actually livid.

Silverlight , you can't even count - its 6 days you plick. Also this is days late its years late!

RNS = another missed deadline. GL is a complete disgrace. I continue to hold but shake my head in disbelief at the incompetence. Still no gas , just more promises and Silverlight thinks it is positive, you couldn't make it up!

Silverlight...hmmm. Your lack of regard for history is not to your credit because leopards rarely change their spots and research generally pays. I am focused on the present and comments by GL over the last 3 months. In May we were told we would get 1st gas on 1st of June or within hours of it. Every deadline is missed, every promise not delivered. We were hoping for unhedged production in June to reduce debt. Now we are hoping to deliver enough to satisfy the hedge. Lots of hope and bugger all delivery. So please do not lecture those of us who no longer believe GL. If he worked for me I would have fired him.

Irrespective of what transpires later today GL is utterly incompetent. Delay after delay, cost over runs , inability to budget, dreadful communications only rescued by stratospheric gas prices. So if this does come good it is despite our BOD because without the gas price we would be bust. I cross my fingers and continue to hold but I am seriously underwhelmed.

RT whilst Bobrad is annoying the person most annoying is GL. I remember a podcast of him in April/May saying that 1st gas would be 1st June if not within hours of it. The new time window ends on the 12th. Were it not for the stratospheric gas price the company would be bust. The sp is where it is for a reason and in the meantime I cross my fingers. GLA

Mirasol I am not sure where this daily deficit comes from? Normally futures contracts are structured on a monthly basis with a strike date in the month. I don’t have precise detail of the hedge but I assume that they are structured in a similar manner. Thus you need to deliver by a specific day and in theory could deliver the lot on the last day. In which case we currently owe nothing.

Ok Thanks Tygra - in which every apologies landlord. 1.374. Too many 1's

Do some research - I paid 1.1374 and I reported it prior to it being listed here. It is also shown here. Some people!

The trade shows on this site at 3.16

Easy secret landlord. I have a live feed of prices and the mid price dropped and I timed the buy accordingly.

I bought in today for the first time as a very long term hold to take advantage of the SP fall. I like the well diversified portfolio and the dividend. I bought sub 2800 which I think will be seen as a good entry point when looked at in a few years time.

interactive investor. I just clicked buy and it went through no problem.

As this is no longer 2% of my portfolio I just bought another million shares 1.1374. I hope they double next week GLA

Hits that isn’t quite true. Angus will receive the amount of money per the hedge. It is liable for thereafter. Thus if gas fell below the level of the hedge it would simply buy the gas on the open market and be in profit and vice Versa if it fails to produce. The latter is the issue now with gas substantially above the hedge value and it being on the hook to produce the gas.

Tygra, I fully agree that we are in this position due to pure dumb luck with the gas prices. GL has been awful. The due dilligence on SFB was shocking. Fingers crossed.

Tygra , that is because there are more shares and we remain blighted by lack of gas. We will all see whether this is additive when /if the gas flows , how much and when/if the side track happens. The gas price is also a major factor. There are circumstances where this would be very additive and very negative. I cross my fingers for high gas prices , excellent gas flow and a successful sidetrack. Each to their own .Good luck

Nothing like reading the accounts. All forecasts based on $75. We remain comfortably above that level

I had a client who worked her entire career in the civil service. She went to Brussells for the last 5 years of her career. She transferred her pension benefits. Then she got a big payrise (so all the years of service counted at the higher salary). When she retired and moved back to the Uk her civil service pension was taxed at 5% (from memory). Post Brexit she is taxed at normal UK rates and is devastated. This is the story no one tells us. Euro land was a Civil service gravy train and the fat cats can't wait to get back in.