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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Leyshon Energy | LEN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 4.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.00 | 4.00 |
| Top Posts |
|---|
Posted at 21/1/2015 08:31 by rcturner2 papillon, I have now sold all my AIM minnows and have decided to give O&G a miss. There are so many good shares out there it saddens me that so many private investors love chucking their money away on AIM. In 2013 O&G was one of only 3 sectors on AIM that showed a negative return and in 2014 the AIM O&G index lost 40% yet still it is as popular as ever. The average AIM O&G investor lost 40% last year, yet all the PIs think they are great investors and can beat the average. I am average at best and so I only seek those areas where the average return is positive! |
Posted at 20/1/2015 17:58 by papillon Leyshon Energy to return cash to shareholders and cancel AIM listingNews Jan 20, 2015 Leyshon packs up in China By Amy McLellan Twelve months on from its demerger from Leyshon Resources, and Chinese gas explorer Leyshon Energy is planning to return more than US$15 million in cash to shareholders and cancel its AIM listing. It follows a run of poor results from its Zijinshan project in China and the failure to bring in partners or identify other opportunities against a backdrop of uncertainty and price volatility. Shareholders will vote on the proposals at the end of this month. As we reported last month, the company initiated a strategic review to consider its options. Beijing-based Leyshon isn’t short of cash – it has cash of US$24.6 million against estimated liabilities of between US$8.6 million and US$9.3 million – but it is opportunity poor after mixed results from the Zijinshan block on the eastern fringes of the Ordos Basin and the slump in the oil price rendered other target opportunities marginal. Against this backdrop it makes sense to cancel the listing to preserve cash – including associated Directors’ and professional advisers’ fees, this costs around £500,000 per annum – and to return funds to shareholders. It is currently estimated that such cash distribution will be around US$15.4 million, or around 4.1 pence per share. The cancellation of the AIM listing is proposed for February 10. The company will then adopt a simplified Memorandum and Articles of Association and go into hibernation as a shell company. Once all liabilities have been settled, there will be general meeting at which shareholders will be asked to consider winding-up the company or any alternative business proposal. If the company is wound up, the appointed liquidator will make a final distribution of any residual cash. It’s a disappointing end to a company that had hoped to push ahead with unconventional gas in China’s Ordos basin but, as we have seen too often on AIM, there are worse outcomes for shareholders than having a cash distribution. Indeed, analyst Malcolm Graham Wood of Hydrocarbon Capital said this was “probably the best bet for now” and suggested investors keep an eye out on what the management team does next “as pound for pound it has one of the most experienced groups of industry guys I have seen for a while”. This includes ex BG executive Kim Howell, who was appointed non-executive chairman in November after former chair John Manzoni stepped down following his appointment as the first ever chief executive of the Civil Service of the British Government MD Paul Atherley is a former senior investment banker with HSBC while non-executive director Tony Megg has more than 30 years in the oil and gas industry, most recently serving as executive VP for Talisman and before than as group VP of BP, where he was head of group technology until 2008. |
Posted at 13/1/2015 08:41 by propunter23red Nice little arbitrage for the patient investor at 4p or less |
Posted at 10/12/2014 11:52 by propunter23red Agree ProB, they have totally ballsed investor relations, and that is one of the big reasons we are at 50% of net cash backing |
Posted at 09/12/2014 08:33 by rcturner2 There could be institutional selling as many will have to do end of year reckoning and the will not want the massive loss on LEN showing.Sock, an example of a mistake you are making is talking about getting your 60k back. That money is lost, the only thing that matters is what will give you the best return from this moment forward. AIM, especially oil and gas is a massive graveyard for small investors. |
Posted at 23/9/2014 16:00 by the stigologist i don't think chinese gas story is attractive or has fantastic economicsif it did the chinese would be doing it not getting western investors to fund it... and take the 'upside' if any hTtp://www.moneyweek Why I don’t buy Chinese stocks on AIM By Tom Bulford Sep 18, 2012 Greg Rudd, the brother of the former Australian prime minister, once met a Chinese businessman who gave him some prudent advice. "You tend to see the good in people, Mr Rudd", he started. "People like you. You laugh a lot. But you’ll never make money in China with that attitude. You’ll only be taken advantage of. People will trade off you. They won’t pay you. The number one rule of doing business in China is this; never trust a Chinaman. Why would you as a foreigner trust a Chinese businessman when we as Chinese don’t trust each other?" Now that advice is pretty close to the bone. But I’ve said it before in Penny Sleuth – you have to be very careful when you invest in a Chinese company. The record of AIM-listed Chinese companies is simply awful. And with so many still coming to market, there is a real chance that many private investors will end up making some very expensive mistakes… |
Posted at 15/9/2014 08:38 by rcturner2 Everyone on the thread is entitled to their opinion, and I am quite happy for former holders to post their views.Socktrade seems to me to be like so many private investors who are actually more like gamblers than investors. Putting 70k in a stock like this is a very risky proposition. I have 20k invested at 5p, 400k shares. Probably the last gamble I will ever take on an O&G company as there seem to be more failures than successes on AIM. When you buy a stock like this you have to suck it up. Things go wrong, things take longer than expected, it is par for the course. Socktrade gives the impression that he has far more invested here than he is comfortable with. You should never invest more in a share than you are prepared to lose. Any share can fall 100%. |
Posted at 17/6/2014 02:10 by oscar kilo IMO. The share price fell off a cliff mainly due to the lack of communication post demerger. With the renewal of "investor Relations" it should now climb back to the edge that cliff, where most explorers should sit.What price that will be will be anyone's guess but I do think some are selling the pre news recovery short. Now we are ending the the exodus of the disgruntled and attracting new investors with fresh eyes who recognise what could happen very quickly. Over the coming weeks the testing will, among other things, provide data that may support the estimate for the resource. The diagram on page 9 of the AGM presentation really shows the immediate and future potential of LEN. A successful appraisal here will lead to debt funded development and production. (noting reserve based finance available) So no or minimal share dilution. I also think successful testing will attract institutional investors as we step back from the cliff edge. Sure up the reserve and suitors may appear. Add to that the prospect of a debt funded acquisition and this penny dreadful could well become the talk of the town in record time. However this is just one persons opinion and all must research and make up their own mind. I think the share price recovery will be swift because it the bleeding has stopped, prospects renewed and the majority of holders are in the red. Stock just might dry up as the test results approach. Good luck all. |
Posted at 03/4/2014 22:45 by ultrapunch rvsy382 Apr'14 - 18:19 - 588 of 596 0 0 sirraman You have hit the nail on the head with your comment about MMs stripping some PIs of their shares at give away prices. >>>>>>>>>>>>>>>>>>>> But rvsy38, the MM's are only making a Market. Those shares you say the MM's are "stripping some PI's of" are being sold to other PI's. There is nothing to stop you, or sirraman, buying those shares you say are being stripped from PI's at "give away prices"!! Because some PI's are selling at give away prices other investors can BUY at give away prices. Can't you understand that? The MM's make a market in LEN shares. If more investors want to sell than those that want to buy the price will continue to drop. The MM's are there to make a Market and make a profit. They are not charities. They wont pay a higher price to those selling because they would end up with stacks of LEN shares that nobody wants to buy!! What can't you understand about that? MM's make a Market in LEN shares. The LEN share price is driven by supply and demand. If investors want to sell at give away prices that's up to them. If other investors don't want to buy LEN at these give away prices that again is up to them. The trouble is no one is quite sure that todays price is a give away price. That's why investors are not piling in at this price. LEN needs news and good news at that. If that happens then watch the shares rocket as the buyers pile in. |
Posted at 14/3/2014 09:53 by the millipede Nice posts everyone. Thanks for keeping up the conversation. I can certainly see why investors are getting a bit cross. Bad news, then no news is never really a good place to be on AIM if you want to keep investors holding your stock. And LEN seem to have missed at least one opportunity to provide a quarterly update since admission.I think I wrote before I am no expert in oil and gas but, from my experience of investing, I would say these things always seem to take longer than investors expect - analysing drill results and seismics can go on for months and it seems to me that must reflect some unrealistic expectations on the part of investors rather than a go-slow by pretty much every AIM director of an oil company! IMO it is better to get it right than worry about rushing for the Chinese weather - although I do agree the weather will probably cause potential further problems for investor sentiment if not much happens this summer. Still, perhaps the best thing is to look to the future rather than focus on the past. I honestly think the tactics are good: faced with some unexpectedly complex looking results and data get in a proven oil and gas man to look things over. Take the time doing it to make sure it gets done properly. And get PA to focus on new business using his China connections and experience. Valuation at cash (maybe not at almost a 50% discount as we thought but still hardly a racy price), potential still for Zijinshan and other new projects and simply awful investor sentiment. I would say that actually looks pretty good. |
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