Leyshon Energy Share Discussion Threads

[wordog] 22/9/2014 21:35

They had to release an update before the 25th proactive investors meeting. Until today they have been holding back from issuing bad news in the hope the water would be isolated by now.

[useless23] 22/9/2014 19:45

Anyone else think the timing of today's update is strange?

[saikat] 22/9/2014 18:03

Useless- I agree - this , like so many others, has become a gravy train for management.

Please take care here - this is destined towards very little (probably zero) in the next year or so. With $21m (from this deduct ongoing capex) cash- leaves very little for any kind of acquisition - good assets don't come that cheap. Even if they do buy something, where is the money to invest - nearly $29m has been destroyed in 2 years. This is one which even Darwin is unlikely to touch with current macroeconomics.

They should have closed shop and returned money one year back when Z6, Z7 doubts showed up. That is what they should do even today - but they won't, will they? It is a gravy train. Sorry! They will instead give bonuses to each other - gravy train loot.

[useless23] 22/9/2014 16:34

In every transaction in life, one or more of the parties involved gets 'closed.' If you've ever worked in sales then you'll know exactly what I mean. Either I'm going to close you or you're going to close me.

[mayroad2] 22/9/2014 16:30

Good AIM stocks exist but I've learnt the hard way over the last couple of years that they are few and far between. Speculative plays like this one are a gamble at the end of the day - some will win, but most will lose.

In future I'm sticking to O&G producers only, in politically safe environments - really can't take the hit and miss tension of any others. Thanks goodness for LGO which is currently diluting the pain of my losses in this one !

[useless23] 22/9/2014 15:59

This is the last aim stock I will ever purchase.

[useless23] 22/9/2014 15:57

RCTurner,I stated ages ago perhaps on another bb that the only real benefactors of aim stocks are the management. They get paid their very high wages regardless of performance. It's ludicrous.

[rcturner2] 22/9/2014 15:46

This pretty much sums up my attitude to the sector:



I am out of AIM O&G stocks now.

[nick297] 22/9/2014 15:15

Now that PA has got a world renowned team they will gradually understand the geology at our cost before building up a new team.

[rvsy38] 22/9/2014 13:54

socktrade1

They haven't said that ZJS5 is not commercial - in the RNS on well 5 which stated they had achieved commercial flow, they didn't say which zone gave the commercial flow rate.

What they said today is they are testing the zone in well 5 which corresponds to the upper zone in well 7 - clearly they are building up a picture of the geology over the area where they have drilled wells 5, 6 and 7.

I am disappointed by the RNS but only in that it is taking so long to really understand the geology.

[sos100] 22/9/2014 13:40

nick297-from memory you started talking about 3p when we went over 5p....
think you lost some potential profit,though you will never admit it.


all is not lost -they will be drilling the new well and they are still testing upper zones, i just want them to report on a regulary basis which is what they said they would do.

[wordog] 22/9/2014 13:36

So glad I got out of this dross of a share with some dignity. What a waste of my time and resources. Oh well.

[rcturner2] 22/9/2014 13:34

nick, it was a punt here, the fact that you got the punt right is meaningless

[nick297] 22/9/2014 13:02

Socktrade are you still hopefullof 12p? Remember my prediction of 3p when all the brilliant investors here called me a deramper. I hope you have not remortgage your house to raise 70k.

[pro_better] 22/9/2014 12:53

mixed picture...

Chairman John Manzoni Commented: "The Interim Testing Programme has confirmed the presence of gas in the target zones and has given us the confidence to drill Well ZJS8. In addition there continues to be very encouraging results being reported in adjacent operations which suggest that we remain at an early stage in fully evaluating the 700 square kilometre Zijinshan project. The information we have gained from testing these two wells puts us in a strong position to locate and design Well ZJS8."

[pro_better] 22/9/2014 12:41

IMHO it is about time the co speaks openly on the upcoming presentation...

Tony Meggs should avoid all that chit-chat about the high demand of gas in china etc we are used by PA.

he needs to concentrate and address in detail on the asset, the finances, the new asset propositions, the next move, etc...

[pro_better] 22/9/2014 12:36

The basin is gas prolific. and all companies in the greater area have/had successes. their strategy was to drill and test as many wells as possible in order to appreciate their asset value and make significant shareholder returns...you can check their programmes and timeframes.


what happened with LEN though?
well LEN had seismics with clear indications that there is gas on the field.
PA though had a different strategy than our neighbors: lets drill 3 wells and if we are successful with them we continue with the asset, if not, then tough luck, we move to the next project.

PA had $45m to start with. each well costs about $3m for drilling and testing...after two years time they just drilled and tested only 3 wells. looks like they overspent money (i am not sure where exactly). Now they are left with around $21m and as per their original strategy one can understand that the asset seems not to be worthy for further drilling....

explanations are needed!

[nash81] 22/9/2014 12:34

sold mine. may come back later but for now, wioll avoid.

buy to ROSE instead as spudding Oct 2014

[useless23] 22/9/2014 12:21

Yep. Too many experts after the event

[loverat] 22/9/2014 11:57

To be honest it is not that hard to call these types of disasters. Over time, nearly all AIM oilers fail or hit a very low bottom prior to improvement in fortunes. This market is just about timing your trades and banking a profit. I would have been more impressed if the above calls had been more specific and better timed.

[alyo] 22/9/2014 11:44

We'll said, the $20m or so they have won't be there next year at LEN . Kea Petroleum also had around over $50m cash several years ago and after I was getting laughed at by several people on the kea boards back then they've blown the whole lot and have ZERO money left now. The same will happen here at LEN . Call me what you like but im mostly right..