The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Thank you for the link, certainly an interesting watch. I attended the event in Newcastle. The presentation Julian gave then was a very clear and logical explanation of his understanding and expectations for the exploration activities. That was before the outcome of all the drilling was completed. To see his enthusiasm now is confirmation to me the team is walking the talk and delivering. The latter of course awaits proof from the evaluation of the well tests and I eagerly anticipate what the rns information will tell us all. I was impressed too by the way Fiona and Julian are approaching the development of the Echo projects. DYOR as always. Best wishes, Seedcorn.
I just watched it, twice! It gives a bit of an explanation to what is going on and the presence of associated gas is a real bonus in assisting the well to flow in my view. This sort of interview is helpful, again in my view, and certainly acts as a reminder that the Portland is ultimately not the main target. I hope DL will continue with his commentary because any support, albeit in the form of 'banging the drum', that helps the progress through all the planning and other regulatory hurdles the Weald companies face can only be a good thing. Looking forward to the next news with interest (a vested interest at that). DYOR
Newboy, you make a good point! I was expressing a point of view. My view. I started off by saying we don�t know what the money raised will be used for as yet. Basically, in my opinion, the directors must be the ones to decide what is in the best interests of the company. If I didn�t trust them to do so then I would not invest here. If money is required then I would sooner they did so in a timely way rather than hit a brick wall. One of the reasons I invested in UKOG is due my understanding and knowledge of the oil and gas industry gained over a long period of time. It is one that keeps on giving in terms of learning and I am very willing to keep on doing so. It is an industry that is very cash consuming and in the right conditions very lucrative. It is also an industry that needs to take a long term view to go from exploration to production. In the regulatory environment of the U.K. and with a watching public UKOG has to be one or more steps ahead and that can be very challenging. I wish SS success and support him and his team. Regards, Seedcorn.
I came across this share by chance last night. My first impression is that it seems to be rather unique. A very small cap yet it pays a dividend and has cash in the bank. I intend to do a bit more research and my gut feeling is this may be worth a punt for the long term. I would be interested to hear what others may think? Regards, Seedcorn. DYOR as always.
Hi Gaias Kidney, you made a great post. I really appreciate your comments and all the information. The potential for an upward trend of this share is almost tangible. I am invested and I feel I made my investment at a good time. Best wishes and many thanks, Seedcorn.
Sentiment can go a long way but I think the pending resource update is possibly providing a bit of upward momentum. Yesterdays rns must be a very good indication of the expectation that Metal Tiger has for the share direction. I need to get a better feel for the potential of the business. DYOR.
Hi Superlucky79. Sorry to hear you felt it necessary to sell out of Leg. You may remember my posting a few weeks back where I expressed my concern and frustration about the lack of communication from the CEO. I had the intention of selling out too and I did so at quite a loss. The loss was/ is advantageous but only in the sense of being able to offset against other non ISA gains. It is never my intent to take a loss if I feel it is avoidable but in this case it was not. I had intended to buy Leg again within my ISA but decided not too after giving the matter considerable thought. I wish other LTH well and I hope they get the results they wish for. What I gained here was experience... but at a price. Regards, Seedcorn.
Many thanks to everyone for the input. I live in the North East so I am sure there will be a bit of a buzz if any significant finds are reported. I will keep my ear to the sea bed ..... or the ground at least. Regards, Seedcorn
Hi Wraith, I wasn't aware of this southern North Sea block licence. Thank you for mentioning it. I notice it has a two year condition attached and I guess that must be almost up now. Any idea what, if any, plans are in place? Regards, Seedcorn.
I think Zak's CEO interview with Zaf Karim on 4th December 2016 sums up what i was trying to say. Please have a listen. Regards, Seedcorn
Out for a walk at the moment but the way I understand it, Leg are not passive investors and from memory, in the Zak's cafe presentation, this is explained. If not directly on the board the CEO gets involved in a consultancy manner. At least that's what I understood. There may be more I can support this with but I need to get on with this walk right now. Regards, Seedcorn
Soupdragon78, thank you for replying. I, like many others no doubt, was initially attracted to Leg as a result of the VS 'unicorn' vision presented on Zak's Cafe. I did as much research as I could around Legendary and was also interested that they had other (small) holdings in the portfolio. VS obviously has the greatest potential to expand and so it is the flagship of the holdings. The other holdings, as I understand it if they are not progressing/ likely to progress, would be discarded. We are hearing nothing about them of any note and I feel we might be better informed of these. Let me go back to VS though. The potential for VS is considerable. What is not clear to me is to progress that is being made and, whilst that may not be given out in great detail, surely the pr approach used in the Zak's cafe would be beneficial in keeping shareholders on side. As it is the management team is out of reach to shareholders. That last pr exercise was I feel, aimed at the subsequent fund raising of £1 million achieved by a share price over 0.3p. (I wonder what a fair valuation of the share actually is?). If we look at the price today then the price has dropped considerably. My share price average is 0.22p, so even that has almost halved looking at the price today. The reason I would sell my holding at this time is because it is unfortunately outside an ISA. I would thus be able to offset my loss against gains I currently have on shares disposed of outside the ISA package too. They exceed the tax free capital gains allowance. My intention was to use the funds for short term trading and then re-purchase Leg in an ISA wrapper. Your point of waiting until the VS results in December/January is well taken. As you say they have yet to prove that they can deliver. I note that as he is a shareholder and management team member of VS, our CEO is part of that delivery and yet he also has a role to play for the other Legendary investments to. Best wishes, Seedcorn
I had high hopes for this share when I bought my first holding in March 2016 and I have made several purchases since. For me the lack of communication or support for the shareholders from the management for many months now is a concern. I still feel that long term there may be a positive outcome but with any investment there needs to be some visibility or reasonable expectations to justify the reasons for making the original purchase if progress is becoming adverse when reviewed. Up until recently I felt this was justified. However (and there has to be a however!), there comes a point where I feel I could put my reduced value holding (down 46%) to better use and so today I tried to sell but without success. I reduced the amount I was trying to sell until I got down to just under 200k and only then was I able to get a quote. The low daily volumes tell their own story and it is obvious to me that the lack of interest in Leg is leaving the mms with little incentive to pick up shares except in very small numbers. In the end I have not sold a single share as the low amounts I could dispose of did not make it worthwhile. It seems that hanging on to my holding is the only realistic option for now. If I was part of the management team I would feel I was not earning my crust if the shareholders were dissatisfied with the current state of affairs. Communicating my feelings to the management has so far hit a brick wall as phone calls and emails meet with no response. Perhaps I shall have to make a 500 mile round trip to attend the AGM (from the north east to London) whenever that is and make my feelings known there. Unless someone else has a constructive alternative idea? Best wishes and much optimism, Seedcorn.
Is this the equivalent of buying a ready made limited company 'off the shelf' as it were in this country?