Share Name Share Symbol Market Type Share ISIN Share Description
3Legs Resources LSE:3LEG London Ordinary Share IM00B52P5P72 ORD 0.025P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.3175 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -4.31 -0.05 1
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.3175 GBX

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wiseacre: An experimental cancer drug discovered at Oxford university is the focus of a new UK biotech company to be listed in London this week led by two veterans of Bristol-Myers Squibb, the large US pharmaceuticals group. SalvaRX has been set up with backing from Jim Mellon, the Isle of Man-based investor, as an incubator for early-stage cancer drug developers. More On this topic Call for tighter controls for drug trials Anjana Ahuja Ditching your birth identity Immune cell breakthrough in cancer fight Bioelectrics industry is one to watch IN Pharmaceuticals Valeant is the latest troubled roll-up to unravel Witty’s tenure at GSK divides opinion Analysts bullish as Valeant struggled Witty defends GSK strategy to the end Its first asset is iOx Therapeutics which is working on treatments using so-called natural killer T-cells to attack tumours. SalvaRX’s chief executive, Ian Walters, and its chief scientific officer, Robert Kramer, were both senior members of the team that put BMS at the forefront of a new class of cancer drugs called immunotherapies. These medicines, which harness the immune system to destroy tumours, are widely seen as the most important cancer breakthrough for decades and have been tipped to generate tens of billions of dollars in annual sales for the pharma industry. SalvaRX will scour academia and the biotech sector for novel immunotherapies and deploy capital and expertise to develop them. The company’s shares are due to begin trading on London’s junior Aim market on Tuesday after a reverse takeover of 3Legs Resources, a shell company backed by Mr Mellon which was previously engaged in a failed search for shale gas in Poland. Mr Mellon, whose wealth was estimated at £850m in last year’s Sunday Times rich list, made his fortune in mining but also invests in life sciences. SalvaRX raised just under £2m in a share placement as part of its reversal into the Aim shell and Dr Walters said the company planned a more substantial fundraising with institutional investors in due course. See Today's FT: The company owns 60 per cent of iOx with the rest held by Oxford university and Ludwig Cancer Research, a global network of leading cancer scientists. IOx’s so-called iNKT agonist drugs have shown promise in animals and Dr Walters said the first clinical trials in humans would start soon, financed by Oxford. Dr Walters acknowledged that cancer immunotherapy had become a crowded field but insisted there was still plenty of untapped science — especially in Europe — beyond the “checkpoint inhibitors” that have attracted most investment so far. “Eighty-five per cent of the industry is focusing on checkpoints and antibodies. We are focusing on the other areas where there is a lot of white space,” he said. “The science is advancing exponentially so there is so much more to come. In the long term this is about turning cancer into a chronic disease.”
sweet karolina: I have now read the full 116 page admission document. It is a good deal for current shareholders. The placing has been done at the same price as the reverse - it will not have gone to bucket shops looking to make a quick turn. Shareholders should vote for all the EGM resolutions and get the company back trading again. You do not need to read guardian articles, there is an excellent in depth report on the clinical situation in the admission document. When trading recommences, I would expect there to be not a lot of liquidity in the stock. Newsflow in the early years to be infrequent and not particularly exciting. I would expect that more shares will need to be issued in about 12 months time, or earlier if another acquisition is to be made. I would put the chances of long term investors losing most or all of their money at 90% with a 9% chance of not losing too much / making a small profit and a 1% chance of making a decent profit, but that will be a good few years down the line. Whilst I fully support the work iOx are doing, the risk reward balance does not work for me as an investor. Those are my considered views having read the document and having no axes to grind either way.
kingston78: When will the directors do something more positively on 3 Leg and change its name, as they have done wonders to the share price of Kuala?
wiseacre: Note the 60 per cent rise in share price in the past week of Mellon's other new Biotech investment company, Kuala Innovations. I believe this one likely to be used for RTO. Probably a lot of upside here.
kingston78: I cannot believe that the share price is so low. This is most likely due to unexciting news on investments. As soon as a good investment is made and the news announced I am sure that this shell company will attract a lot more attention and its share price will rise. I always follow the main man. If this company is good for him, it is good for me. I am staying put.
jc111: Two Billionaires - Mr Greg Bailey and Mr Jim Mellon have acquired 29.9% of 3LEG - with remit to transform it into a Life Sciences Group/L.S Technologies and related industries. Why would Two Billionaires take Control of a £1m mk cap shell if they weren't a grander plan already in place to use the shell co as the basis for a new exciting Life Sciences Group. One Of The Most Intriguing Ground Floor Opportunities I've seen for a long time. Dr Greg Bailey - Co-Founder of $8.5 Billion quoted Medivation Inc and a Host of other Pharma's. hTTp:// Jim Mellon needs no introduction - A Billionaire who knows his onions in pretty much every new Technology that is coming through with a specific interest in the Pharma's and Life Sciences. Between these two Men, they control almost 30% of the Share Capital. They also have options that between them would push them above that take over threshold. For How long will this Remain a Tiny Shell capped at £1.2m? View Mr Mellon's excellent speech at Master Investor and I don't think there will be much waiting around, he certainly isn't the type. 3LEG - ISDX TRADES : - Please put relevant articles for discussion and keep this a friendly investor board. Thread started 10.08.2015 - share price 0.28p MK CAP £1.2m
simpletonremover: Vela continuing to buy 3Leg. Vela Technologies PLC Update on investment in 3Legs Resources plc Print Alert TIDMVELA RNS Number : 7697I Vela Technologies PLC 30 March 2015 30 March 2015 Vela Technologies plc ("Vela" or the "Company") Update on investment in 3Legs Resources plc The Board of Vela (AIM: VELA), the investing company focused on early stage and pre-IPO technology investments, announces that, further to the announcement released by the Company on 10 March 2015, the Company acquired a further 1,500,000 existing ordinary shares in 3Legs Resources plc ("3Legs") (AIM: 3LEG) on 25 March 2015 at a price of 0.21 pence per share. Vela's resultant holding in 3Legs is 19,000,000 shares representing 4.41% of the total voting rights of 3Legs.
simpletonremover: TIDMVELA RNS Number : 9630G Vela Technologies PLC 10 March 2015 10 March 2015 Vela Technologies plc ("Vela" or the "Company") Investment in 3Legs Resources plc The Board of Vela (AIM: VELA), the investing company focused on early stage and pre-IPO technology investments, announces that the Company has acquired a total of 17,500,000 existing ordinary shares in 3Legs Resources plc ("3Legs") (AIM: 3LEG) at an average price of 0.212 pence per share for a total cash consideration of GBP36,875. Vela's holding of 17,500,000 shares in 3Legs represents 4.06% of the total voting rights of 3Legs. The shares in 3Legs were acquired in the market by Vela between 27 February 2015 and 9 March 2015 as follows: Date of purchase Number of ordinary Price per Investment shares purchased share (p) 27 February 2015 5,000,000 0.2 GBP10,000 6 March 2015 7,500,000 0.215 GBP16,125 9 March 2015 5,000,000 0.215 GBP10,750 3Legs is an Isle of Man incorporated investing company whose shares are traded on AIM. In February 2015, 3Legs completed a corporate reorganisation which included the adoption of a new investing policy to invest in and/or acquire companies within the technology sector or within the resources sector, particularly where a resource can be brought into production through the application of modern technologies. As part of the above reorganisation, 3Legs raised GBP800,000 through a subscription for new ordinary shares at a price of 0.232 pence per share which valued 3Legs at approximately GBP1 million with the funds to be used by 3Legs in connection with the implementation of the new investing policy. Commenting on the investment, Brent Fitzpatrick (Non-Executive Chairman), said: "At the time of the placing in February our stated strategy was to create a new platform from which we could continue to offer support to our existing investments and to broaden our portfolio in a diverse range of technology orientated companies. We are pleased to have been able to make our first investment in 2015 and to further broaden our investment portfolio. The board of Vela believe that the investment in 3Legs offers Vela an opportunity to invest at an attractive price in advance of 3Legs embarking on its investment policy." For further information please contact: Vela Technologies plc Brent Fitzpatrick, Non-Executive Chairman Tel: +44 (0) 7802 262 443 Antony Laiker, Director Allenby Capital Limited Nick Athanas/Katrina Perez/James Tel: +44 (0) 20 3328 5656 Reeve This information is provided by RNS The company news service from the London Stock Exchange END MSCJLMPTMBTMBMA
linksdean: 3Legs Lublewo well result significant for whole Polish shale industry - broker By Giles Gwinnett August 15 2014, 12:50pm 3Legs said the operations to bring the well into test production have gone very smoothly and it was delighted to see the well has flowed from the beginning without assistance 3Legs said the operations to bring the well into test production have gone very smoothly and it was delighted to see the well has flowed from the beginning without assistance Rising interest in the Polish shale industry was bolstered again today (Friday) by a positive operational update from junior oil and gas explorer 3Legs Resources (LON:3LEG). Its Lublewo well in the Baltic basin in the north of the country has been successfully cleaned up and is now on long term flow test to assess the level of hydrocarbons present. The well continues to flow back frack fluid and hydrocarbons, and as of Thursday (August 14) around 12% of the frac fluid originally injected had been recovered, the company said. 3Legs said the operations to bring the well into test production have gone very smoothly and it was delighted to see the well has flowed from the beginning without assistance. It comes after the largest multi-stage fracking programme in Poland to date, which saw the firm, working alongside Conoco Philips, sink eight wells and frack six of them. Today's news is positive for other shale firms in the area, such as San Leon Energy (LON:SLE), something highlighted by SLE's house broker finnCap today, as the company is targeting the same geology. "Good results for 3legs should therefore be viewed as positive for SLE and vice versa," said analyst Dougie Youngson, who has a price target of 15p. San Leon is a significant player in the polish market, with 50 licences in the Baltic basin - considered to be the one with the most potential - alone. Shares flew last month when it unveiled a joint venture agreement in Poland that will see the oil and gas junior receive US$20mln in upfront payments and be carried for a work programme at two fields. Under the deal, Palomar Natural Resources, founded by John Buggenhagen, former exploration director of San Leon, and Robert Price, will take 65% stakes in the Siekierki and Rawicz gas fields. The explorer will also be carried "for a defined initial work programme" aimed at bringing these two fields, in the country's southern and northern Permian basins, into production as soon as possible. Broker Northland said today's 3Legs announcement was highly significant. "Whilst far from conclusive there are some encouraging noises in this announcement. "The well, believed to be the largest horizontal test completed in Poland to date, is important not only to ConocoPhillips and 3Legs, as a vital indicator of the commercial potential of the basin, but to the Polish shale industry as a whole." The broker highlighted that the "all-important" flow rate over the next month or so will help determine the potential of the concession. "A commercial flow rate could be anything above 1.5mmcfd," he said, given further optimisation work and data expected to results from this well. Northland reckons for the investor the company offers a "uniquely low risk" entry into a possibly game changing and late-stage opportunity and repeats a 'buy' rating and 79p price target. 3Legs shares were unchanged today at 22.75p.
aimshare: Shale Fracking in Poland 3Legs Have Cracked It – 3Legs Resources (LSE:3Leg) Land Valuations Set to Soar 3Legs Resources (LON:3Leg) Lublewo LEP-1ST1H lateral well, Game Changer & Major Value Kicker for Poland's Shale Gas Sector. Incredible news out this morning by AIM listed Polish shale gas exploration company 3Legs Resources (LSE:3Leg) who have reported the results of their Baltic Basin, Lublewo LEP-1ST1H well stimulation. In partnership with US Major ConocoPhillips, 3Legs have successfully completed stimulation over 25 stages of their Lublewo well, in what is a landmark technical achievement. For investors in Poland's shale gas sector, this news is of major significance as 3Legs and ConocoPhillips have not only completed a successful stimulation but have worked out the right fluid combination to penetrate the Baltic Basin shale structure. Getting the fluid combination right is the Holy Grail for a successful fracture and major issue to date in Poland has been working to discover just what is the right fluid combination to deliver a successful frack and one that will be able to unlock Poland's huge shale gas reserves. Cross-Linked Gel On the Lublewo well, 3Legs have used a cross-linked gel a step back from the slickwater fluid that was used on the Lebien LE-2H well in 2011. The use of a cross-linked gel was designed to reduce the amount of fluid required per stage, while maximising proppant delivery. It appears that this hybrid fluid systems has been able to control fluid loss to increase the fluid efficiency, provide good fracture conductivity, keep polymer concentration to a low level and help eliminate proppant flowback ensuring the frack can be stabilized. Poland's Largest Successful Multi Stage Simulation 3Legs, ConocoPhilips and Lane Energy have conducted what is Poland's largest multi-stage shale simulation. By identifying the correct fluid combination, it appears 3Legs have found a way to keep the proppant in suspension and thus ensuring more proppant gets into the rock structure and penetrates much further (Lublewo delivered 7.7 million lbs of proppant over the 25 stages executed across 1,469 metres out of the available 1,495 metres of lateral section) By using the hybrid gel combination, they have used less water, a factor that is significant in that it reduces costs by making clean up much quicker. Raises Investment Interest in San Leon's Lewino-1G2 The other reason why this news is so significant is the Baltic Basin concession owner Lane Energy Poland Sp. Zoo where 3Legs and ConocoPhilips hold a 30% and 70% interest respectively, contracted the Polish company United Oilfield Services (UOS) to drill and frack the Lublewo well. This is important as it means the on the ground experience in Poland's drilling sector is now gathering pace and where these experiences will certainly be transferred to other companies like San Leon Energy (LSE:SLE). Indeed this news by 3Legs puts a real spotlight on San Leon's Lewino-1G2 well, which successfully flow tested in January and is now ready for a horizontal well to be spud and where I understand UOS will likely be contracted to spud Lewino (UOS did the successful flow test). I would suspect that San Leon would be approached by a major who off the back of this news by 3Legs would want to have access to one of Poland's most advanced shale gas wells, where it too could employ similar techniques to bring Lewino into production pretty quickly. Raising Valuations On a final note, surely the news out today significantly raises the valuations of Poland's shale gas acreage. It has been as high as $500 per acre and is today valued at $50 an acre but where a more reasonable valuation after this latest news must be ranging from $1,000 to $2,000, in contrast US shale gas acreage is valued at circa $38,000 an acre. San Leon has interests in nearly 5 million acres of land in Poland of which 1.2 million acres is pure play shale gas. Shares in both 3Legs and San Leon are up this morning on the back of this great news. André Morrall Brand:Petrogas
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