Member Info for wordog

N no news now. Dont think I will see my top slice target of 6.5 pre results.

Must be an RNS next week.

I didn't realise they had already done this a few times.

Leyshon Resources Limited (AIM/ASX:LRL) advises that it will implement an on-market share buy-back (Buy-Back) of up to 5,500,000 fully paid ordinary shares in the Company. The Buy-Back will commence on 18 October 2011 and will have a maximum duration of 12 months. The prices to be paid will comply with the ASX Listing Rules, being no more than 5% above the average price paid for the Company's shares over the five previous trading days.

COMMENCEMENT OF SHARE BUY-BACK Leyshon Resources Limited (AIM/ASX:LRL) advises that it will implement an on-market share buy-back (Buy-Back) of up to 21,800,000 fully paid ordinary shares in the Company. This equates to approximately 10% of the Company's fully paid issued capital. The Buy-Back will commence on 19 January 2010 and will have a maximum duration of 12 months. The prices to be paid will comply with the ASX Listing Rules, being no more than 5% above the average price paid for the Company's shares over the five previous trading days.

Personally I'm expecting an RNS stating that the testing of well 7 has started, baring in mind the emphasis the board are making on news flow recently.

I think frank is working for petro china (our partner) in the adjacent block. I wonder where the offset data came from?

I'm optimistic in the grand scheme of things, hey I'm in profit, I just think that 12-15p is only achievable on good results. Remember, the last time the SP was at those levels it was pre split and had LRLs $6 mil in the pot too. Now we have same number of shares but significantly less cash if you include what has been burnt in the last 7 months.

I'm expecting an rns announcing the start of testing, I'd expect a final push to 6-7p then. So far the crew and equipment have been mobilised, It could take a week or two at least to get on site, set up and get going.

10p if well 7 not commercial. I doubt it. Although it would be a nice surprise. I'm top slicing at 6.5 and leaving the rest to run until October results. That's my plan and I'm sticking to it.

I agree, but only to cica 6.5-8p pre results. As ever it will only explode on good news!

http://www.stockopedia.com/content/leyshon-energy-md-paul-atherley-interview-value-to-be-realised-84717/

I agree Mc. I think the previous programme was never going to run so smoothly as it was the first venture into energy, now the whole board have a century of experience with big oilers under their belt. It's a no brainer, we all know that, obscene amounts of ramping will only drive people away. This sells itself.

like.

The infamous 1 trade went through this morning

some pretty unashamed ramping going on.

set at 6.5p, just missed out this morning. Would have been nice if it had been dealt and got back in again at this price.

Quite the dream team, the main reason I got back in here after last years debacle, there just seems to be more logic behind their decisions. Shareholder value is another key point for me. If they can get well 7 or 8 to flow we will be 2/3 of the way to a commercial field.

it made fairly depressing reading last year, but I see what you're saying. I feel that whatever offset data they have got their hands on must be fairly substantial to get them to revisit this well.

"The main target intervals have reported good porosity and in some cases very high permeability but with low resistivity, indicating the potential to flow water. In addition the gas saturation levels are lower, and the water saturation higher, than for the same zones elsewhere in the field. A detailed review is underway to understand which zones will be flow tested." They must now be targeting different zones. It was after this RNS we saw the SP slide. I can only presume the offset data from the neighbouring has given enough confidence for the board to attempt gas flow.