I only bought £1k's worth in 2 x £500 trades. I managed to get them at 6.825p which, since it was below the mid price at the time, lse have shown as sells. I will get more if the chart (specifically the Ichimoku chart) turns bullish again. I did promise that I wouldn't buy any share again if the Ichimoku chart was still strongly bearish, however I broke my promise today. but only in a small way. ATB.
The POSSIBLE US$10m cash from a successful A-14 well on SOKO will help the MTA sp when it returns from suspension. Whether that's enough to give a MTA sp of 2p when it re-lists is open to question. Thats equal to a £38.7m Mkt Cap if the shares in issue stay the same. Unfortunately there are a lot of similar companies, operating solely in North America and the West Indies, on AIM for investors to choose from. The likes of MAGP, NTOG, CAZA, PANR, TRIN, etc, would look to be much cheaper options than MTA with a Mkt Cap of £38.7m. However it's impossible to predict share prices. I hope they do return from suspension at your 2p. I doubt it, but wtfdik? Yep, lets agree to disagree. We are both of us only guessing. We shall find out, no doubt, within the next 6 months. You ask, "Assuming there was news before suspension ends are they legally required to release it to market ?" Well STAV they are legally obliged to issue the latest up to date information on assets and production in the Admission Document. That AD will have to be issued before MTA is allowed to re-list on AIM. So we will definitely know what has happened during the time MTA has been suspended before it is allowed to return from suspension. ATB
Hi mate. Actually a stop loss is a very good idea. 10% is probably too tight for a small AIM explorer, but even a 20% stop loss would have saved you a lot of dough on LRL. I think the current sp is cheap because I think the bad news has dried up and we should be getting some good news with the flotation of Leyshon Energy. The cash acts as sp support and will stop it dropping further, IMO. I still believe that the company would be better off without Atherley at the helm as MD, but hopefully he has learnt his lesson from this years fiasco. Certainly his bringing onto the Leyshon Energy BoD 2 O&G heavyweights, as non-execs and intending to bring in another experienced O&G man onto the BoD as an exec are steps in the right direction. Unfortunately Atherley will stay as MD, but hopefully the new exec will be installed as CEO.
Don't bother. There is NO way MTA will be valued at a US$120m - US$160m Mkt Cap when it returns on just 10.6MMboe. 10.6MMboe (a lot of which appears to be P10) will never be valued at up to US$15 per boe in the GROUND. I know because I've research MTA's peer group (CAZA, MAGP, PANR, NTOG, TRIN, LGO, etc) all of whom produce more than 60boepd. PS. Your US$120m - US$160m Mkt Cap would value the MTA sp at between 6.2p and 8.3p. Ridiculous.
Hi mate.Another salient fact you missed out on in your post was I ALWAYS think in terms of Mkt Caps. The only time I mention the sp is when I convert the Mkt Cap into the sp by dividing the Mkt Cap by the number of shares in issue. Since the number of MTA shares in issue now is almost DOUBLE the number of shares in issue when those POSSIBLE 15p and 30p were mentioned back in late 2009/early 2010 that effectively REDUCES my 15p to 8p and my 30p to 16p!! Doesn't sound so bad now does it?! Especially now that some posters are bandying about sp's of up to 8.3p (US$160m divided by 1.935bn shares) on just 10.6MMboe recoverable and a current 40boepd. At least my targets around 4 years ago were on 192MMbbls recoverable (and all light, sweet, oil) and 1000bopd on EACH well. I've learnt my lesson. I don't believe MD bull**** anymore, nor do I make Mkt Cap and hence sp forecasts without the full, factual, information. We don't know the nature of those 10.6MMboe reserves. We also don't know what the daily production will be when MTA returns from suspension. We don't even know, definitely, that the deal will be fully completed. MTA themselves say they still have to do due diligence on these assets. If that due diligence throws up some question marks over ownership of these assets then MTA wont proceed will phase 2 and/or phase 3. ATB
15p, even 30p. True, but back the Peter Hind was saying SOKO could contain much, much, more than 65MMbbls recoverable. What a bull******* that man was! My 30p was based on 192MMbbls of recoverable oil in SOKO and 1000bopd from each well. That's what happens when you believe what MD's say! Now we are talking about 10.6MMboe. Not even 10.6MMbbls of oil! Big difference to 192MMbbls and 1000bopd per well. I expect 10boe per well will be considered good from now on. PS. Spiritfinder asked for my e-mail address. Not the other way round. I never defended him. He asked if he could send my posts to RHPS so they could tip MTA. I told Spiritfinder he could do what he wanted. My posts were not copyrighted!! LOL
That US$120m - US$160m valuation range presumably relates to the profit return likely to accrue to MTA in the fullness of time. Over a number of years in fact and after CAPEX is spent on the field. That definitely wont mean that the MTA Mkt Cap will be anywhere near US$120m - US$160m when the deal is completed and returns from suspension. If the deal is completed (Phases1,2&3 plus other 50% option taken up) then MTA will have spent US$28.2m (plus a US$16.5m loan to Matra USA) to acquire recoverable reserves of 10.6MMboe (68% oil).. That means each boe in the ground will be valued at US$2.66. That appears cheap for the USA, but we don't yet know the composition of that recoverable reserve. We don't know how much is Proven (P90), how much is probable (P50) and how much Possible (P10). Proven reserves could be valued at 10 times the value of Possible reserves. PS: If the MTA Mkt Cap was US$120m - US$160m when it returns from suspension that would value each boe in the ground at US$11.3 - US$15.1. That is impossible, IMO, even if the 10.6MMboe was Proven reserve. You only have to examine the value of each boe in the ground for other AIM listed O&G companies operating in the USA to realise that, especially as production is unlikely to be a lot more than the current 60boepd, when MTA returns from suspension.
Atherley said back in February of this year that PAPL would drill, frack and flow test 6 more wells (ZJS7-12) in 2013. They have drilled ONE so far, ZJS7, and have yet to frack and flow test it!! Ideally, IMO, Atherley should have stepped down as MD of LRL, but he wouldn't because he would then have lost his US$400k annual salary plus relocation expenses. Hence he is doing the next best thing and getting some very experienced non-execs (plus an exec in the future) onto the Leyshon Energy BoD to protect his significant share investment, IMO. PS. Atherley currently earns US$400k as MD of LRL. When the company splits into 2 will he be MD of Leyshon Energy and continue as MD of Leyshon Resources? He has already stated he will be the MD of the new Leyshon Energy. Atherley could be earning TWO annual salaries instead on just ONE in future. Alright for some!
You stated on the 29th October, after the last RNS, that LRL would issue flow test results for ZJS7 in 2 weeks time. Do you still believe that? Your past predictions have proved to be rather unreliable. For instance before the last RNS, dated 29th October, you said I was wrong when I stated that LRL would inform shareholders first before conducting flow tests on ZJS7. You said that the next RNS on ZJS7 would contain the flow test results. The RNS of 29th October proved you wrong. Unfortunately you are an irrational, wishful thinker, who has looked at LRL through rose tinted specs. PS. I've bought some LRL shares this morning. It looks oversold and cheap bearing in mind the 9p of cash and the pending floatation of Leyshon Energy.
Going to 3 Phase? That's a bit of a shocker!
Does your Uncle Ned know Olga? Wow she gets around!
"Stav is your contact from within Matra?" It's Olga. She's very, very, close to Barskiy. She also appears to be very close to STAV and the isolator. She definitely puts it about!
LOL.
Read last thursdays RNS. It states "PG-M JV has the right to complete the Phase 3 Investment until 15 April 2014." If this deal continues to phase 3 and it is completed then MTA could still be suspended until the middle of April. MTA has only been suspended a week and it's already killing you? What are you going to be like in a possible 5 months time?! LOL. Hows the painting going? Still painting Venice?
For all we know A-14 could have been spud already. Will MTA inform us when A-14 is spud? If it hasn't been spud then they need to get a move on. A-12 took 110 days to completed and test (spud July 2007). A-11 took around 130 days (spud December 2007). Both of these wells were trouble free, or if they weren't we were not told of any difficulties. Obviously A-13 was a disaster!! It was spud in the middle of October 2009 and took 7 MONTHS to complete. The results issued on 26/5/2010 were truly awful!! 26/5/2010 is a day that will live forever in infamy!! Instead of at least 65MMbbls of oil and 1000bopd we got just 100bopd and eventually just 15MMbbls (ERC/Equipoise CPR). The crew that started A-13 were cowboys and were replaced in January 2010 because they couldn't deal with the problem of the infamous nitrogen gas pocket. If A-14 has yet to be spudded and is spudded soon then it could be completed and tested easily by the end of March 2014 if the well is drilled trouble free like A-12 was. Presumbly they will be using an experienced and reliable operator and crew since they are already nearby producers.
Nice RNS. Surprised no posts so far today.
Don't forget the interest receivable on US$38m. You are rather cavalier with the facts!! Even at 3% interest rate that's circa US$1m pa. I should think that will cover a fair slab of the admin expenses. Of course we don't know how much of the money LRL has so far spent on the PSC drilling these 3 wells still remains to be paid.
I would never buy after a tipsheet tip has pushed up the sp. The MM's see these tips and push up the sp in the expectation of buyers coming in. From my past experience of ShareProphet tips this year it's often worthwhile selling into the strength generated by the tip. bwtfdik? We shall no doubt see what happens tomorrow.
Correct. S**T and DOUBLE S**T!! Why didn't TOM WINNIFRITH tell me yesterday that Doc Holliday would tip LRL today?!!!! That's the last time I go to his Pizza joint in Clerkenwell!! LOL. Well done to all those lucky blighters who bought at yesterdays lows!!
S**T and DOUBLE S**T!! Why didn't TOM WINNIFRITH tell me yesterday that he would tip LRL today?!!!! That's the last time I go to his Pizza joint in Clerkenwell!! LOL. Well done to all those lucky blighters who bought at yesterdays lows!!