Member Info for Shedulike

Fair enough you're entitled to your view SG, though the genesis of Echo arrived by RNS before any pre-arranged event under a completely separate umbrella. Talking about walkouts though I think it might be a stampede if an underwhelming and complex asset sale is vaunted over the long-awaited LE. All fun speculation.

I think we can safely take 'new venture' off the table but if you consider any of the seriously good news possibilities that we are all hoping are in the pipeline then the event looks all wrong, if not simply the timing then the style of the thing. For me it's neck and neck between a change in corporate strategy v no news at all and just take it on face value (JP loves a get together, loves to be the innovator in communications and knows we are on the eve of being in lock-down with TE-10 testing and hopefully LE negotiations). I know this won't be a popular view as we all want the wow announcement but I think on balance no big news is a short head in front.

I don't really know what material news could land, obviously not TE-10 testing, something left-field re.TE-11 maybe, GSA? Unlikely. If I had to add my stab in the dark to all the guesswork today I'd say it's going to be about mood music, perhaps drip fed hints about the LE strategy. Maybe because I'm going through a negative phase I'm worried we could be about to be softened up for a complex asset sale rather than the long-awaited company sale. Hope I'm wrong probably just on a downer.

SG47 I'm scratching my head as to what it's all about and frankly haven't come to a satisfactory conclusion. For now, all I can think is JP enjoys these events and it's the last chance before things get seriously crunchy. I don't think JP would lure investors, many on expensive rail tickets to a SOU event only to announce it's to promote his new company. It would go down like David Brent's redundancies speech.

I had a bit of a winge under the influence last night but I admit it's how I feel at the minute. Hope everyone has a great time though and there's something to celebrate soon.

Yes my thoughts exactly - this is still the great adventure for those being paid handsomely in the process. For investors, the fun is over and we want results and I'm starting to feel irritated about a pointless event that on current evidence looks like an indulgence. Unless we hear otherwise between now and the 14th investors will be virtually facing a binary result on their investments looking to the TE-10 programme. Maybe a technical event would be more appropriate because as things stand LTH's investments have been pocketed by our hosts with our hopes of a payout looking fragile - not a cause for a jolly. I admit I can't work out the rationale for this event, maybe for once a miracle will occur but I doubt it. Narked

If he sells another tranche during the next event you'd have to admire his balls (RIP Jeremy Hardy https://www.y****be.com/watch?v=Ehxwvt-7bYY ).

See RNS 26th Sep 18

I can't figure it out, doesn't make any sense and the timing seems pointless, not that everyone won't have a great time (unless it's The Restaurant at the End of the Universe). I had a theory but it didn't seem compelling when written down and I'm left wondering if JP just likes a party....

Thanks Eric you wouldn't be laughing if you saw the original! Nothing sinister, I just can't work it out - doesn't make any sense, maybe JP just likes a party?

I just wrote about 500 words speculating about the Mayfair bash, read it back and it was all b*ll%$#s so deleted it. You can thank me in person if I can attend.

I don't want to target this at any individuals just on the outside chance that it is a case of wacky but honestly naive posting. However what a clever way to unsettle investors by introducing characters who declare mind-boggling exposure, face crippling outcomes to their welfare and yet rarely if ever pen a rational post. Wouldn't it be uncomfortable to be reminded every ten minutes or so that your financial interests are aligned with these people? Now that would be very clever wouldn't it, or am I just being horribly cynical?

Yes Crude I'm sure some will and I'm sure some won't, on the FRR board (yes I sure can pick em!!) I once likened the situation to that of poor old Tantalus - every time he reaches for a ripe fruit the boughs rise out of reach, when he bends down for a drink of water the pool recedes. I wonder if the legend of the perpetual 12-18 months here will also pass into mythology?

Lucky he didn't have Coro as well! Interesting though that out of 17 picks, 8 up / 8 down probably tells a non O&G expert what you're up against here.

Hi Ding - I've been wondering for almost 6 months now whether the completion of a GSA isn't really our remit if the company is disposed of in JP's preferred manner (complete sale) or even asset sale of the existing discoveries. So to be honest I was just having a bit of fun but the plain truth is I don't think any of us are experts on negotiating a LE so we're all guessing really (even JP hasn't headed one before when you think about it!!). You can only go on the evidence you have and JP has publicly stated that while a company sale is the preferred route he has to prepare SOU to find a way forward if a satisfactory value isn't achieved. For that reason I believe that the GSA is being negotiated but if we reach the endgame that all of us want we may never see it concluded under SOU's stewardship. I obviously don't know but that would seem logical to me.

I know this retrace is depressing but what news were people expecting today? That TE-10 results have come in a month early? That contrary to previous advice they've gone ahead and spudded TE-11? That in line with previous advice with have a GSA? Okay I'll give you that one (two out of three ain't bad).

Great stuff will look forward to that L

Thanks tor the feedback everyone, sounds like the Leben news had something of a pacifying effect on proceedings though I'm glad the BOD went low key on it. Were there any timelines on implementing this compression technology, did anyone get a vibe on what Buggenhagen has actually been doing in the last 6 weeks? Not expecting miracles already but when you're feeding another mouth from dwindling funds six weeks feels like a long time.

Thanks that's helpful Lejjb

To be honest I don't know but I would be surprised if the permits didn't always need a ministerial signature they are a specialist department of the Ministry of the Environment after all. I wonder if in the past that was considered more of a formality once the specialist body had completed their studies but only became such a visible barrier when Leben started grandstanding.