Leyshon Energy Share Discussion Threads

[rcturner2] 21/9/2014 19:19

I'm surprised by the question as very few companies are valued at their assets. They are either at a premium if they are making good profits or at a discount if there is doubt about the conversion of the assets into shareholder funds. I would guess that almost all O&G plays are priced at a discount even when there is plenty of cash, since these types of companies are very risky and often the "value" of an asset is highly subjective. You only have to look at the range of values placed on P2 oil reserves to see the point. The LEN asset is an unproven gas play in China and the cash can always be spent. LEN bought the asset pretty cheaply, which suggests that LEN were taking a punt here and only time will tell if that asset is more valuable than that original price paid.

[cupra kid] 19/9/2014 17:04

Nil Pd, my thoughts exactly, hence another small top up for me before the close. It really isn't rocket science is it.

[nil pd] 19/9/2014 16:45

Still trading at well under asset value:

(249,457,212 shares in issue x 0.04125p) = £10,290,110

£10,290,110 x 1.6321 = $16,794,489

No offence intended with the simple arithmetic, but the half year results state an asset value of $24,183,742 giving me reason to express surprise.

So why on earth are we not trading above 6p at least - with something in the price for future success. Should be around 7.5p-10p today, minimum

In my humble opinion.

EDIT -

winston makes a good point (winston66 19 Sep'14 - 10:03 - 1831 of 1846): if the Zinj asset is not included, well you get the picture.....16p, 35p or more as realistic asset value????

Some real progress and the sky's the limit here. I'm staying put.

[nash81] 19/9/2014 16:28

Pro

this is something that someone must ask during the presentation next week!!

Pro_Better 19 Sep'14 - 14:49 - 1839 of 1844 0 0

actually they said news will be announced as they come....so from 3 zones testing they have no news??

actually we should have received 3 RNSs for each zone tested on Z7...then another RNS for Z8 drilling commencement.... and one or two RNSs about the Z8 test results...

so until end of October/November we should receive 5-6 RNSs....

they come today without anything valuable to say and just very foxy say the programme will be finalized by end of 2014...

poor PI completely and my thought, of them actually buying time, until they find a new asset, has come back big time!

[nash81] 19/9/2014 16:25

agree, if it was a failure we would have heard by now.

anyway, they could still issue RNS next week prior to the presentation should there is any updates...

here hoping positive news next week


rvsy38 19 Sep'14 - 15:26 - 1842 of 1843 0 0

I stick to my previous thought that if ZJS7 was a failure we would have heard by now.

Also the company can't release any information at a presentation which has not been given to the market beforehand.

Beaujolly - I assume your comment about a placing was tongue in cheek as LEN have no need to raise money for this project and if money was needed for an acquisition it would be obtained by debt finance.

[rvsy38] 19/9/2014 15:26

I stick to my previous thought that if ZJS7 was a failure we would have heard by now.

Also the company can't release any information at a presentation which has not been given to the market beforehand.

Beaujolly - I assume your comment about a placing was tongue in cheek as LEN have no need to raise money for this project and if money was needed for an acquisition it would be obtained by debt finance.

[sos100] 19/9/2014 14:56

that was my interpretation too.

lets hope we get a snippet on the dilling front next week, though i very much doubt it

[pro_better] 19/9/2014 14:49

actually they said news will be announced as they come....so from 3 zones testing they have no news??

actually we should have received 3 RNSs for each zone tested on Z7...then another RNS for Z8 drilling commencement.... and one or two RNSs about the Z8 test results...

so until end of October/November we should receive 5-6 RNSs....

they come today without anything valuable to say and just very foxy say the programme will be finalized by end of 2014...

poor PI completely and my thought, of them actually buying time, until they find a new asset, has come back big time!

[sos100] 19/9/2014 14:34

nash-that sounds good and could be the case but to give no updates after two months is a little poor.

not sure how they expect the share price to go up if there's no updates(hopefully good)...

[nash81] 19/9/2014 14:20

Z7 testing is not duster yet. testing shouldnt take long, but I am guessing the reason why taking longer is perhaps they want to confirm sustained flowrate after shut-in.

so, hopefully we will get positive updates on Z7 prior to presentation on 25th next week


(they dont have to shut-in if flowrate not encouraging. usually shut-in is done once initial flowrate is encouraging, and they do shut-in and test again to confirm sustainable flowrate)

[sos100] 19/9/2014 13:32

weird company-they started testing 2 months so what is actually happening..

Doesn't look we will get any kind of update soon on that front (unless they give something at the proactive conference-highly unlikely) and here we are waiting for something...
They said end oct so why now end of the year.

All in all quite poor pr

[pro_better] 19/9/2014 11:00

jeez!

frustration kicks in, big time.

they did nothing all year and still cannot stick to the time schedule!

this is getting funny!

[alyo] 19/9/2014 10:14

The directors will just rinse us. Who knows if Those wells exist? This is china after all

[nash81] 19/9/2014 10:09

Z7 testing is not duster yet. testing shouldnt take long, but I am guessing the reason why taking longer is perhaps they want to confirm sustained flowrate after shut-in.

so, hopefully we will get positive updates on Z7 prior to presentation on 25th next week


(they dont have to shut-in if flowrate not encouraging. usually shut-in is done once initial flowrate is encouraging, and they do shut-in and test again to confirm sustainable flowrate)

[qackers] 19/9/2014 10:03

The report only covers the period up to June 30th 2014 but very disappointing that they did not comment on post june activity.

However the good news is that the board are earning their dosh as they met in September to approve this report.

[winston66] 19/9/2014 10:03

Still around 6p per share cash as at 30th June and although I've only had a quick look Zijinshan is not shown as an asset and as such has zero value ??????

[alyo] 19/9/2014 09:23

Anyone know why they are burning through so much cash fast? Look at the directors salaries !

[alyo] 19/9/2014 09:15

O dear , end of 2014. Another Chinese company out to deceive again . Unlucky guys

[sirraman] 19/9/2014 09:13

AS usual nothing's seem to be changed....was hoping for more transparency from the new Board!.. The completion of ZJ8 is now end of year...and worryingly cash burn on admin/pay appears to continues at same level as last year despite not much operational activity in the 6 months to June ?.

Ah well ...lets hope they have kept back on positive results for ZJ7 and some positive news on deal/acquisition front for the presentation....so that this can re-rate back to 16p at least!



Sirra

[mpclag] 19/9/2014 09:08

same old same old-now drilling completed by end of 2014! zzzzzzz

[wordog] 18/9/2014 21:29

ZJS8 is already delayed, they need to drill (4 weeks) and test (4 weeks) plus mobilisation, clearance and any shut in if required. I'm going to wait until 25th before I put a penny back in here.

[pro_better] 18/9/2014 09:49

I don't believe there will be a delay (again)...imho the reason we don't get any new news is that PA has changed his tune with regards to small PIs regular communication...and don't tell me that if there is any sensitive info it should be RNSd because this is myth!!!

I believe before the presentation we should get the Z7 results...

[wordog] 16/9/2014 22:17

'by the end of October' will soon become November by the look of it. Spudding well 8 will be the trigger for me to get back in here. Until then I'm not convinced the programme will continue.