Member Info for Vernony

My personal feeling Ken is that the big oillies were taken by surprise. Of course they will be interested, what they want to know is the long term profitability i.e well results how much gas and for how long. If they get a good take on that they will move very rapidly. We have the geological results for the South of England in this quarter, or early in the next. What iGas find at Barton Moss will also be very significant . It should be very interesting !

Be interesting to see what they mean. They have shelved gold extraction (gold scat, they called it) from Mt Leyshon in the past, as being to expensive. I wonder if perhaps there is a newer and better technology. In that case this could be a hidden gem

LEN

In truth neither half have assets to speak of and no production lines planned . I don't know how people can expect the SP to rise on account of no income. Its a pure gamble at present, we need an upbeat RNS setting out positive plans for LRL and a little more news (good news) about the China well from LEL

We need an RNS from LRL with some upbeat news to stabilise these shares

The ASX gives the cut off date for Specie allocations as the 15th January. I haven't found anything for AIM yet

Does anybody know when the cut off date was/is ?

Well done, I brought about the same amount as they were going down. From originally what I believed to be a joke share, so I purchased as an outside bet, I am beginning to get positive feelings about this share. It may not reach dizzy heights in the short term,its starting to look like it maybe going somewhere. Hope so, I can then rest on my laurels as a wise buyer : ))

At least we should get an announcement this week. We are possibly on a plateau at the moment, ready to soar, or nosedive !

I don't know what the cut off point for LRL is with gold extraction, but they have already been there and closed down their operation. and I assume is recent history, when gold would have been worth much more. I agree with you the crises is not over, its going to take years and years of austerity just to pay back our debts. but LRL are in business today and wish to make a profit at today's prices. What gold may, or may not be in the future is not something they could borrow investment money on ! Interesting take here from the internet. It suggests that LRL Resources have not actually decided the way forward yet , they are looking at their options.http://beforeitsnews.com/financial-markets/2013/09/leyshon-resources-to-spin-out-gas-assets-into-new-energy-company-2605128.html

Well, if memory serves me well, LRL abandoned gold because the extraction was too expensive. With the world coming out of recession gold is going to cheapen now.So I can't see that they are thinking gold at the moment

It doesn't matter if they are issued at a lower value, because they are the same value for everybody, and investors are confident that the company has a future. In that event, they will soon go up again

Sorry if you don't understand English too well. They are issuing Species shares. Species shares are not necessarily at the old value of the original share that it is intended to replace. See definition Species Shares . Regards Definition of 'In Specie' A phrase describing the distribution of an asset in its present form, rather than selling it and distributing the cash. In specie distribution is made when cash is not readily available, or allocating the physical asset is the better alternative. Investopedia explains 'In Specie' An example of an in specie distribution is a stock dividend, which can be distributed to investors when cash is in short supply. It is common to see an in specie distribution made in the form of fractional shares such as 0.5 shares for each share held. The phrase "in specie" is Latin for "in its actual form".

Thanks for that . I think the picture is beginning to emerge. Leyshon Resources is the holding company for Leyshon Energy and Pacific Asian Petroleum, the latter probably under the Holding of Leyshon Energy. Leyshon Resources is now going to concentrate only on minerals,presumably gold in Australia( personal opinion, with the world coming out of recession - expensively mined gold, such as their Australian interest, is a non starter) so they must have something else in mind. For each LEL share held, investors will receive on Leyshon Resources share, plus one Leyshon Energy share (which could be win win if both halves take off). The value of each share could be quite low, as low as 0.5pence. We just need long finger nails to chew during was is essentially a shake down

If you didn't know , herewith Definition of 'In Specie' A phrase describing the distribution of an asset in its present form, rather than selling it and distributing the cash. In specie distribution is made when cash is not readily available, or allocating the physical asset is the better alternative. Investopedia explains 'In Specie' An example of an in specie distribution is a stock dividend, which can be distributed to investors when cash is in short supply. It is common to see an in specie distribution made in the form of fractional shares such as 0.5 shares for each share held. The phrase "in specie" is Latin for "in its actual form".

I am getting more confused by the minute. It would be nice if they were to spell out to their share holders exactly what they are doing. We are the fools, or the wise men who have money invested in them. I don't even know who I am invested with anymore

Between the lines it would seem that they are not confident about discoveries in China, and to save the whole company going down they have hived the Chinese operation into another company. But, where does that leave LRL -Lon . They are now an administrative headquarters without a field asset, so presumably they intend to buy into, or tender for licences , probably in the UK. Meantime, if LRL Resources does well in China, then that will affect LRL-LON share price too. Obviously a lot of their larger disgruntled shareholders dumped their shares first thing this morning, but that can be they simply did not agree with the demerger. Is my reading correct ? Anyway I am betting they must have a plan, wouldn't be logical and 'IMO' could amount to fraud if they didn't have one, and I am betting that they do

I can't believe that they have deliberately voted themselves into a position of no assets. There is a trick somewhere, which I do not understand. So on the basis that, something is going to turn up, I have brought a few thousand more. A few paltry Pounds in a win or lose gesture

They seem to be giving out market news on their website. But, its odd that they should recommend GWMO in amongst that news. But GWMO have just raised 800,000, I am not sure that LRL have that kind of money to make a bid for GWMO, and to give away a potential merger is not the way they usually do it. Its an anomaly ?

I dunno that it is as simple as that. when you take a buyer the size of the USA much of Europe and some of China out of the market it will have an effect upon world prices. I think, initially, that OPEC will try to keep the price up by limiting the amount of oil they sanction for export , but in the long run that would cause buyers to look for alternatives with increased vigour . Eventually OPEC will have to reduce their world price. because they need the money. It won't happen overnight, but one forecast I have read suggests that oil could be from 25 to 40% lower in price in 10 years. Also. one has to take into account consumer pressure into account. Paying an artificial world price will not please them, nor the media. Yes, there will be resistance by the cartels early on and they will try to get away with it, but I don't think it will be a win win situation for these in the end !