Member Info for Shedulike

Not what I've been told but my trust has seriously been eroded over the years.

If there is a crumb of comfort it's that someone has come in at 10p. I have always wondered if there is unfinished business at TE-10, could we be financed for an appraisal well? Then why not announce it, I admit I'm confused, this raise seems to be betwixt and between. Can't believe the one shining light in my AIM portfolio now seems to be as much of a riddle as my dregs.

This RNS is screaming out for more clarity. What on earth is going on if over $10M can't see us through the marketing process. The bizzare thing is that $3M doesn't even position us for more drilling. Just looks like buying time - 29% reduction in wages coming in August, couldn't have made that July could they? Tragic to see this sinking into the worst of AIM territory.

It's incredible how sentiment renders people incapable of appreciating what we have to market in Tendrara. Yes it's disappointing that the three, sorry two well programme failed to prove more commercial gas but the TE-5 horst with its improving economics is a massive carrot to one of the big boys. I've consistently been a critic of the management style but the notion that there aren't buyers is frankly ridiculous.

Apologies just realised that could read as a little crass, I was light-heartedly referring to the plague of locusts type of luck that always seems to befall us not a real mining disaster, I recall we did have a serious accident not so long ago, just thought I'd clear that up.

Not sure but it seems that it's taken 5 years and the tanker is just about turned around. Could be a perfect storm brewing - gold price / POX / IRC improving. Knowing POG though no need to panic I'm sure there will be a reassuringly familiar disaster just around the corner!

Could world events be moving in our favour at this critical time? Not just the oil price but surely a ready to go hydrocarbon resource in a stable country with a route to market away from the Gulf is becoming an increasingly attractive option to the majors. Not taking any pleasure at the prospect of war but this might just create the competition needed for an outstanding LE. One thing's for certain is that Rothschilds and JP are 100 times more cynical than me and the tanker crisis won't be lost on them.

On the subject of criticising the Directors / de-ramping it simply isn't necessarily the same thing. I've got heaps of these and a decent LE should see me out with a profit so I have a vested interest in LE success, however anything I have to say here will have absolutely no bearing on what we might get. I don't blame the Directors for failing to unlock more commercial gas in tough geology but I am disgusted at the wage inflation when clearly they feared options not being hit. I wonder how many thousands of small Ltd companies turning a profit across this country have less well remunerated Directors than our bunch. Realistic success at LE will be a form of vindication, we'll see.

One good thing is I've learnt to spell 'remuneration' in recent weeks always thought it was 'renum', oh well small mercies and all that..... I'm suspending final judgement for now, really there's only one question left - when they 'had our backs' were they looking out for us or picking our pockets?

I'm sure I'm not alone in seriously hoping that Crude's post did just come off the top of his head, not sure how that proposal would work with the other stakeholders anyway. I'm praying that we get the chance for a clean break from this, for one thing I'm bitterly disgruntled with the wage increases as the chance of proving more gas was falling. I'm starting to feel that the risk in investing in SOU was not simply with the drill bit, but that the Directors would gobble up the cash before delivering the exploration programme. I guess if you put your hard earned in the care of these people then they'll take it. If he doesn't return a small profit to all investors it will be a scandal that the remuneration went into overdrive as the companies performance got stuck in reverse.

Joe have you got Stockholm Syndrome? :) I just want out (assuming the price is reasonable) spend the money on something life improving and to stop looking at my phone every 5 minutes to see what the next setback is.

Stockdale just catching up - I didn't describe you as 'detached'. That's a good find but that was then and today's RNS is now and today we are told it will be 'costly' and possibly 'dilutive', that suggests to me they haven't secured anyone of the calibre required on a contingent basis. It seems there are two different messages but I think the latest RNS is more likely to hold the truth, as I said before will be happy to be proved wrong. GLA

I know Jobbin one day I'm thinking no human being would say that if the only excitement we're facing is finding out the scale of our losses, and then the next day I look at his form on soundbites and the desperately dire record of AIM companies returning value to investors and I'm in despair. Did they 'have our backs' all along (was that a JJ?) or not, the wait is going to be tough.

I wonder when all this is over where the FSC comment about it being 'an exciting time for shareholders' will rank amongst JP's greatest hits? If he gets everyone away with some kind of a profit it's a reassuring hint to worried investors. If the majority of LTH's end up underwater and it turns out to be yet more spin it would show a jaw-droppingly insensitive lack of self-awareness. In normal circumstances it would really have buoyed me up but after the last two years here I just don't know.

Stockdale do you have comms from the company stating that the lawyers will be working 'no win no fee'. If so I'll happily admit I'm wrong, but I go back to the fact that Colin has already stated it will be 'costly' and that funding the action may be dilutive. Again if we were only paying on success why would these statements be in the RNS?

Yes they won't be working no win no fee, that's why Colin said the legal action will be costly. If we were going to pay them on success he wouldn't have had to mention the 'D' word, unfortunately...

I'm no legal expert but I'm certain that this can't be done on a no win no fee basis. We're not taking Croydon Town Council to court for tripping over a loose flagstone, we're going to need high-end international lawyers. On the plus side I always thought the new Minister would never want to oversea handing out an unpopular licence as one of their first acts in office, he's a politician. Hopefully that sentiment has pushed him into making a bad decision legally. Perhaps if our case is strong this will be settled before lengthy court action becomes necessary. There are obviously dark forces at work that want to maintain the status quo of gas importing, I have wondered for a while if compensation may be paid with a winding up of operations, put crudely, paying us to go away. Wild speculation I admit!

Honestly I know this news is disappointing but some of the comments this morning are absolutely crazy. Just think how many people would know that the hole didn't deviate, the drilling team and associated companies would want to protect their professional reputation and wouldn't tolerate LR making this up. No the hole deviated as communicated in a legal document.

Only something about the battery life and we can't retrieve the data until it's pulled up. I had hoped they were getting live data about the pressure build up but apparently not. Still, I don't think we've heard the last about this discovery.

I can remember when Crude first mentioned that he had sold some to pay off the mortgage, actually when we all should have sold some to pay off the mortgage! There was nothing fishy about the timing. As for defending JP, well you're bound to if you've built up a personal relationship, not sure why folk get so uppity about it. I was thinking earlier would we really want JP to act all contrite and apologetic about the promises? Frankly no, it would suggest the games over and we need him to enter negotiations with his head held high and chest out. That's not to say I ever liked the evangelical style, that's not retrospect I was critical after the Gherkin and Sailing with Sound but we need him as confident and positive as ever for our own sakes.