The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Poor news today, but its not over yet, just a bigger hill to climb. Turn off, come back in a few months then decide what to do.
Jones I certainly hoping we drill and find a lot more gas. Breaking even asap is what i am keen for, and I am sure we all want that.
I never heard shiit or bust. I heard golden ticket, £10 a share, massive connected gasfield, plug and play etc etc. As the risks became apparent they certainly weren't advertised, and then one day my biggest investment was sex and violence rather than a financial legacy in the making. A 1.6 p dividend in 2/3 years time will mean I get my investment back in around 20 years without the shareprice rising, and 2 months on aim is a long time, nevermind 2 years. This share will be fortgotton about and the shareprice will be in the gutter for at least a year. 50p ha! 17p would be a great start. Sad state of affairs but at least its something.
I don't get this fireside chat. All the questions are known as its not live, all answers to questions seem to have been standardised, why not just release the answers in a PDF or rns, and then we wouldnt have to sit and stare at a screen while they take 5 minutes to answer each question. Dull.
New low just set. Always darkest before the dawn. Although sitting bored in the dark is really annoying, so much opportunity to build interest during the build being wasted.
To be fair, the rig was always going to come, the uncertainty and slipped timelines is irritating and the potential for damage to the rig etc may delay things more. What will spur the shareprice is the licence and once that is signed, we can wait a year to drill for all I care. I want to know the licence is secure and the terms. Then its buy time.
Good news, shame about the delay, guess we are still waiting on the licence but he must be more confident. The rig will come from a supermajor- hear that before!!
I thought this was meant to be our exciting build phase with pictures and excited Bod. Dull but strong buy... if they are building it, anyone know anyone in Lumberton?
Levelup, I expect I will do the same once I feel it turning and I find it interesting that our bigger shareholders havn't been selling. We have had no tr1s. I hope they know something more than me. Wish I had gone with my gut and sold last week.
Agreed crude, giving away more isnt good, I suspect it was a way to convince them to reduce their initial percentage acquired. Would be a harder sell to us if they took it all up front.
The sad thing is this deal could work out to be quite good especially if we are free carried on drilling too. A quater of profits do do nothing, skeleton management, yearly increasing dividends as new discoveries come online, of which there will be a few near our existing discoverys. Its just not the dream we was sold. Will be keeping mine, it will turn around as we find out more details and I should think I will buy some more as we scrape the depths. Post Feb we will be much higher, Not long to wait.
Nyforever, aka captain hindsight. Thats captain hundsight, were would we be wothout you.... Oh yes, exactly where we are now. You pretty useless then aren't you?
Yes Bravotwo, just read it. Just a basic description of where we are, no forward timeline projections. I would really like to know when our BOD are going to explain the nuts and bolts of this deal and provide and insight on what else was on the table and justify the decision they came to recommending this deal.
I can see that this deal allows for the miracle of finding more gas somewhere, but if this deal is 17p per share and to sell us lock stock and barrel was around 34p a share, i think anything around 30p i would prefer to the hope tomorrow scenario. at least i could put that money to better use rather than wait endlessly for something to happen here.
A lot of us long term holders had come to the conclusion we were going to loose money here but expected to be free of this share sometime after Christmas with some money in our pockets. I cant see any money coming back to me with this deal. in fact i expect it to be wasted on more drilling and salaries.
As a long term holder with a 42p average, there is nothing in this deal that gives me hope of getting back my money, and like brexit, the can has been kicked down the road. Bod need to do some conference calls etc to try and explain this deals upside for shareholders quickly, and I would appreciate an honest assessment, rather than the hyper positive spin we normally get here.
Malcy obviously had the heads up.
Overall, not impressed.
Problem is what is our negotiating position, we need money and the licence and time is not on our side. Snpc have money and government have the licence. If they don't play ball what can we do exactly? I see lots of posts about how the government won't want to loose face with other companies, but we are not shell or BP, we are a small oiler on its knees with a potentially valuable asset, and the world already think the government is bent, so hardly a suprise if its made true as we go bust. Personally I think we will get the renewal and drill, but we need to negotiate delicately.
As its the first of November tomorrow, and today is Halloween, I am counting on there being no news to frighten you all in to selling and scare the price to the floor, so I can top up. Lets be frank, since IPO aaog has been a 'Terrifying Nightmare ' ha ha ha haaaaa
Reg and Slacksid, thanks for the replys, had this on my watchlist a while. Expect I will be joining you this week. Fingers crossed we start drilling soon.
Is the drilling paid for already does anyone know. In the interview he said he would always want about a million in the bank so possibly a modest raise b4 drilling? Thoughts
Lol, I found this bit in the article especially interesting
"they may be hoping that Active Energy Group finds fossil fuels with an exploration program, before it runs out of money."
Didn't know we did that! Quality article, I agree good pr would be welcome here. Perhaps we will get a nice Xmas boost.
I recall being so happy on the gas discovered rns, even a bit gung ho as James reassured us it was going to flow, golden tickets may ne tarnished but coulf be polished. The disappointment came like a sledge hammer when it was labeled uneconomical snd the realisation that theres more porosity in convrete than the crap we are drilling. £1.70 pays my mortgage and I thought that was a cert. Now I pray for 42p to get my money back. Without guidance from Bod I wont speculate, but if its not over 42p for the sale price, there are going to be a lot of poorer pensioner's and families who bought it on the hype of the gurkin and cruise. I realise now charismatic claims have no place in pr without evidence. Fingers crossed my lingering faith isnt stamped out for good.