3Legs Resources Share Discussion Threads

[kooba] 13/9/2014 08:36

Small mention in the times!"Punters believed they were getting a free(ish) bet on whether 3Legs Resources would make a commercial shale gas find in Poland. Results from fracking are expected in two to three weeks. The company, speculators said, is sitting on cash equivalent to its market value of nearly £16 million. Shares marked time at 18¾p."I was in touch with the company IR this week in respect of the share price action and am assured that the flow test is ongoing and there is nothing to report to the market as yet.With regard the results which came out on the 18th last year ..they are indeed due but no date has as yet been set... Maybe trying to be able to put a Lublewo update in there.Risk reward looks compelling at these levels but can't help feeling the share price action is a reflection of sentiment on the ground so dampening my enthusiasm ...have picked a few up this week and if everything is still to play for on Lublewo should be buying more!

[aimshare] 13/9/2014 08:14

conoco dictate the pace of information and like all majors with many assets, they're in no rush to announce. 3leg have just the one asset area, so investors are jittery wondering why no news is filtering through yet. small volume private investor sells affecting the price currently or maybe even a fund trickling a few out, regardless of the positive developments, for their own internal reasons. there are 25 successful stimulation stages on this lateral. if the stimulation stages weren't flowing gas andor oil, the stimulation stages wouldn't have been declared successful. the flow rates will be far more than the market expects imo, just have to play the tune according to conoco and their choice of announcement times.

[loglorry1] 12/9/2014 14:17

I'm told via twitter @JamesElston3 (Ex CEO of shale player Realm Energy) that after 3 weeks of testing they should have had a result by now. The company have also said though that cleanup can take weeks/months so conflicting stories.

Volume light but traded down to cash balance now so likelihood frac was not successful which is a shame.

Not enough liquidity to get out anyway so just have to hope, if failed, we will get cash return and company wound up.

Log

[timberwolf3] 11/9/2014 16:04

Gas supply situation getting quite serious now with winter approaching;

www.bbc.co.uk/news/world-europe-29154335

[linksdean] 11/9/2014 09:28

People need to listen Poland will be the proving ground for Europe
It will be magic!!!

[illuminati1] 10/9/2014 21:47

@MrWyattEarp: I have got a feeling something massive is happening in the Polish Shale sector. A reliable source from a major news channel just informed me@MrWyattEarp: San leon, BNK, 3Legs ConocoPhillips all looking good to me

[rescuer] 10/9/2014 10:58

had a small top up this morning.

If this is a dud, then I can't see D or W standing back this time, they've already tried to force the hand and if the company back track a second time, then the Boards name and reputation will be blown out of the water for ever.

downside only 2p.

place your bets :-))

r

[loglorry1] 10/9/2014 09:49

HP if that was the case he'd probably be short and posting the pics all over the Internet :-)

The price action isn't great but the volume is pretty low and it's just as likely that they are still cleaning up the well which can take weeks so nobody knows the result yet.

Log

[hugepants] 10/9/2014 09:44

Or maybe some guy is camped outside the well taking photos of the flare and isn't impressed!

[hugepants] 10/9/2014 09:43

Still dropping so definetly looks like news has been leaked. Surely they have to release an operations update now.

[8craggle] 09/9/2014 16:16

If this aint commercial they are going to look pretty silly at the ESGOS. 17m in cash current Mcap 16.35m.
I did mention it in my email to CFO that they would be advised to increase the news flow to the market. This ain't COP where investors have long term views with dividends in mind.They need to press COP for info they can release to market even if its just % of frac fluid retrieved and some bottom hole pressures.
Log this completes the drilling program so I'm not sure where they could go from here, if COP pull out not sure what would happen.

[rescuer] 09/9/2014 16:15

Log,

I had a very long conversation with Kamlesh last year when they decided to drill the lateral.

They were supposed to return the 32p per share then, but decided to go ahead.

Kamlesh did say that IF this was a dud, then 17p per share would be returned to SH.

So not quite at "buying cash" price yet, but not far away.

Todays trade action suggests someone got wiff of something at c14:00 hrs and then started to off load.

maybe need to wait until after close to see if any delayed trades are reported.

I wouldn't take it as a Negative tho, Damielles or Weiss could quite easily drop the Bid on small volumes, hoping to hit stops or suck in weak holders.

At this price the risk is very small indeed, that's if we can take the word of Kamlesh and expect the cash to be returned.

r

[loglorry1] 09/9/2014 15:55

Cash is about 18p/shr. Problem is you won't get it back without a fight even with Damille as substantial shareholders. I was pretty sure we'd get cash back last time they screwed up at around 22p a share but they went on to do more work anyway.

Unless I'm wrong the BoD have not laid out plans to return all the cash if this lateral isn't commercial have they?

Log

[8craggle] 09/9/2014 15:52

news is company now has a cash balance higher than current Mcap

[loglorry1] 09/9/2014 14:19

oh oh price action doesn't look great here guys. Any news?

[linksdean] 06/9/2014 16:37

G1IO..bnk messed up themselves basically didn't listen to the people doing the job..3leg did..but what bnk did/have got is a way forward..as they know what they did wrong..will they re do the well or do another lateral off the main shaft??? we will see with the update soon..if and if they do this they must see something and something well worth it..regarding 3legs..something to think about.. could the condensate make the well commercial on its own?? another angle but with the gas being a major cherry on top!!..atb links

[g1lo] 05/9/2014 23:13

Bnk was supposed to be homerun but apart a couple of successful track it didn t go to plans. 3legs horizontal track though has apparently been performed without any issue whatsoever so it still looking very promising, even if the collapse in share price does not support this. So I am still going for a commercial flow test result.
look at what happened with Kea. Went up and up with an even big rise just before suspension pending drilling results and...plugged and abandoned was announced the following trading day. So share price movement is not and exact science, it can go both ways. Some CP and 3 staff will obviously have already some informations by now but as far as we are concerned we can only speculate and wait. We will know within a couple of weeks if there were any substance into the late share price decline and if the market read it right or wrong.

[8craggle] 05/9/2014 08:54

I'm no expert but I would have thought a minimum of 6-8 weeks to clean up before flow test.
But its all conjecture,like i said previously if you have something to ask the CFO I was pleasantly surprised at how quick they responded.

[loglorry1] 05/9/2014 08:31

Except those on the ground working for COP will have a fair idea of results not to mention those who can truck up and look at the flare. I suspect it's impossible to stop them leaking the news.

I could be jumping the gun here and its quite possible the full flow test hasn't even started yet.

Log

[8craggle] 04/9/2014 23:46

I emailed the company today asking if there would be an update, the CFO responded within 30 minutes.
He expected there will be an announcement within the next fortnight or so.
In my mind this would tally with the well having cleaned up and the start of the IP run.
When your not the operator your relying on CP to provide you with the details. We have been told the well is on a 90 day test. CP had this on a slide at the last presentation.
I quite understand the nerves here, but to CP its just another well in one of the many exploration permits. They are probably quite happy to release the info after the 90 day test. But in the world of the impatient and fickle investors of AIM this can be quite damaging hence the reason for my email.
Regular updates tend to support the SP, even if its just "clean up is progressing, 35% of frac fluid have been returned"

I'm sure if you email the company a question which they are able to answer, you will get a response.

[loglorry1] 04/9/2014 20:09

I'm sure they'll run the tests for a while before reporting any news good or bad but weakness in the price doesn't bode well to me since I guess quite a few people will know what's going on.

[adam] 04/9/2014 17:41

agreed, but why sit on bad news if conclusive?

seems more likely they have technical problems and are probably trying remedial actions before reporting.

still, bad show not to update shareholders

[8craggle] 02/9/2014 23:33

Analysts’ ratings reiterations for Tuesday, September 2nd:

3Legs Resources plc (LON:3LEG) had its buy rating reissued by analysts at Northland Securities. The firm currently has a GBX 79 ($1.31) target price on the stock.

[louis crystal] 02/9/2014 17:40

Thanks I see them