Leyshon Energy Share Discussion Threads

[rcturner2] 18/7/2014 14:56

rvsy, thanks for that on both points.

[rvsy38] 18/7/2014 14:55

I keep an eye on announcements from our neighbour Sino Gas & Energy ( SEH on the ASX )and spotted these earlier in the week.

On Tuesday Sino announced the gas flow from their first horizontal well on Linxing West. This tested at circa 5 million scf /day which is massive. I wonder if LEN are going to consider a horizontal well at some stage.

On Wednesday they announced the appointment of a new non executive chairman, Philip Bainbridge who worked for 23 years at BP but doesn't appear to have been as senior as John Manzoni or Tony Meggs. This recognises the need for people with heavyweight O & G experience to drive projects like Sino's and ours.

I understand from a contact close to the brokers that Newmont have sold out their holding - they were not obliged to disclose this to the market.

[guppys] 16/7/2014 16:25

Bulls, a stock will automatically go into auction if the price rises/falls by 10% from the previous UT trade. However, seeing as though this is (normally) an mm only stock that does not apply - mm's just move up and down even if there is a mini stand-off and matching prices, eventually someone gives way.

[cupra kid] 16/7/2014 16:14

Continued buying on the dips which is good to see. If the chart holds we should see another push for 6p+ soon.

[bullsvbears] 15/7/2014 22:30

NP,

There may also be an auction if a share price moves either way by a certain percentage.

[cupra kid] 15/7/2014 19:57

What you've missed (I think) is the abnormal price the orders were placed on the book.

Typically we only see the MM's quoting their bid/offer prices at 0.25p intervals. These two orders were at 5.14p for the buy order and 5.05p for the sell order, an obvious conflict which saw some of it taken out at the agreed price of 5.05p.

There was still a small amount being quoted at these prices at the close I hasten to add.

All in the price now, let's move on. Like you say we're due a blue day again soon to keep within the sharp uptrend.

[nil pd] 15/7/2014 19:03

Actually, it may be an unusual rollover. The three ATs before the UT add up to the 108,591.

But I'm still puzzled about the way it was reported. And for such a small amount of shares, overall.

Anyway, rises to come according to the chart!

Now I'm off to do something more interesting...

[nil pd] 15/7/2014 18:56

Indeed, hence its name. By your analysis we should see frequent uncrossing trades (UTs) during the trading day - but we don't.

An UT appears after auction, which to my observation only occurs during a period of high activity (demand for shares or dumping) during a trading day or in the 5 mins after close. I'm talking about any stock, not just LEN.

Unless I missed it I didn't see LEN go into auction before 3pm today. So to my reckoning it was an incorrectly assigned AT.

I'd be interested to know if there are other circumstances where a UT will appear, like today at 3pm because (if it was an UT) I obviously don't know why! The only other thing I can think of is late reporting, and that can be a can of worms in terms of what must and need not be disclosed.

I'm aware that these boards are characterised in the media as populated by nerds who over-analyse every trade and I certainly don't aim for that image here. But I do want clarity, reliability and truthfulness from the market.

[cupra kid] 15/7/2014 15:32

UT is neither a buy or sell or both if you want to be pedantic. There was a buy order at 5.14 and then a sell order appeared at 5.05, they settled for the difference at 5.05p.

[nil pd] 15/7/2014 15:29

sock: yes, probably fat finger syndrome. But aren't the systems totally automated? No longer a body standing there keying in each trade!

It all adds up to a round-number £5,500 buy. So prob no mystery.

[socktrade1] 15/7/2014 15:22

nil pd i was thinking the same.. but judging by the share price . seems as though its actually a buy

[nil pd] 15/7/2014 15:18

Why do we have an uncrossing trade (108,591 at 15:00)? That's at end of day usually, after "clearing"...

[bullsvbears] 15/7/2014 10:57

Instead it heads off south!!

[wordog] 14/7/2014 23:20

I agree, they will inevitably push the price north.

[rvsy38] 12/7/2014 19:29

wordog

I don't know ...but even if there are no more announcements than suggested in my earlier post we should have 4 significant ones over the next 3 months. I would be happy to settle for that !

[wordog] 12/7/2014 18:02

Rvsy

Would you expect an RNS stating that testing has begun?

They said that the news flow would improve.

[bullsvbears] 12/7/2014 15:28

I would expect LEN to understand that they now need to comply with LSE listing rules, However that is not the same as being dual listed in Australia, where slightly different rules applied and also they seemed to be enforced.

[captain james t kirk] 12/7/2014 13:43

rvsy38
Yup, I'd agree with that but have been pondering over the first point and where that sits with LSE rules. LEN have certainly flagged up the point that they might have to withold information on flow tests at the behest of PetroChina.

footnote:
I believed I'd seen the reference to PetroChina giving the nods up to price sensitive info in a rns but can't seem to find it. Perhaps it was a comment made at the AGM and posted by an attendee. Hence perhaps a slight dose of salt needs to be applied.

[rvsy38] 12/7/2014 13:23

My understanding is that LEN need PetroChina to approve any RNS with price sensitive information. On that basis my estimate of newsflow from RNS's is :

- the results of the flow tests on all three zones of ZJS 7.

- announcing the spudding of well ZJS 8

- completed drilling ZJS 8 and start of analysis of core samples and drill logs

- the results of the flow tests on selected zones of ZJS 8.

Blue sky - announcement of an acquisition !

[wordog] 12/7/2014 11:37

Let's just hope they can isolate the water, then we have 2 of 3 wells required for crr.

[bullsvbears] 12/7/2014 11:33

Quite so. But the main thing is that it IS now happening.

[wordog] 12/7/2014 11:26

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

[rcturner2] 12/7/2014 08:52

I don't think results are "any day". At least a month before flow test results.

[bullsvbears] 11/7/2014 23:49

We might think we know that the "program" has started. However, so far there has only been a "mobilisation".

[socktrade1] 11/7/2014 22:41

The interim programme has started so results due any day plus we have a potential acquisition