Leyshon Energy Share Discussion Threads

[wordog] 06/10/2014 19:49

If you take a look at the ordos basin neighbours and see the pace of their exploration in comparison. In nearly 3 years LEN drilled and tested 3 wells other companies are achieving this in 6 months, it's pathetic. This, along with the poor information flow were the key reasons for me to sell up for the second time after the new board was formed. The recent RNS is a great example, they mentioned once months ago that they Might revisit ZJS5 (a well perceived to be commercial) but no mention of it when they announced the commencement of the interim programme. The RNS however stated that well 5 was experiencing similar difficulties as 7, this explains why they only stated well 5 achieved a commercial flow rate for 8 hours during the previous test phase - which is a very short flow testing period. (it's obvious now that they withheld information on that one.) so the first time we hear about 5 being retested was to tell us there were problems there too! I for one would like to be informed that they were testing 2 wells, it's kind of important. It costs more money for starters, oh and while I'm on that subject we have been stating 6p share price in cash for several months now I think investors are in for a big surprise when they find out how degraded that $25milliom is now! Finally, alarm bells were ringing for me before the RNS, it doesn't take a genius to have foreseen the delay of well 8, they had to have spudded it 4 weeks before the RNS was published to hit TD and test properly by November. So at that point I realsised this would drag on to next year and decided to set a stop which I forgot about and got activated, quite lucky really. Rant over, good luck to everyone, I was toying with dabbling again but I've taken a loss and broke even on my last two endeavours here, best if I walk away. GLA.

[useless23] 06/10/2014 18:07

What was it Paul said in the presentation freely available on youtube? "I'll lose you half your money (if the project isn't a success)" Ironic that he had the cheek to slate SEH for issuing shares to raise money. I bet the directors over there are having the last laugh.

[pro_better] 06/10/2014 16:23

so, the company allocated $3m for LRL (1 year did nothing!), spent $4m-$5m for the 2014 drilling and testing plus salaries for the drilling team, PA and the new high profile executives...

they could have just dropped the project altogether at the beg of 2014 since they knew the land is 'geological tricky'...instead we are just left with more questions, no plan B and with the cash register lighter of c.$10m! 2014 turned to be an expensive year considering the amount of work done, never mind any progress...! Fantastic...

+++looking forward to see the amounts of bonuses for 2014+++

[rcturner2] 06/10/2014 15:01

PB - you need to form an action group and get pledges of shares to have an EGM. This has happened on other companies. I am sure you will get supporters. I would also advise against removing directors as that won't get support from big shareholders, but you could instead go for salary cuts and removal of bonuses.

[rcturner2] 06/10/2014 14:59

I must admit that when they published the results with the announcement of the delay in the work programme just casually shoved in there, that was the last straw for me. You must have confidence in the management in order to invest in a company and if you don't, then you shouldn't invest.

[propunter23red] 06/10/2014 14:57

Control 7 figures of votes but that's shy of 10% (24.95m). Most investors would prefer the cash back so small Pi or large I suspect there would be a strong yes vote given Pauls poor management and excessive salary, bonuses and living allowances. Those presentation slides haven't been changed in a few years, its fricking embarrassing! And he keeps overstating the true cash balance, the guys is dishonest and has lost nearly all credibility, consistently releases news late. Its Chinese winter soon, so no drilling, another year lost yet Paul takes home nearly a million USD from lrl and len, lets wake up and give him the boot!!!

[propunter23red] 06/10/2014 14:57

Control 7 figures of votes but that's shy of 10% (24.95m). Most investors would prefer the cash back so small Pi or large I suspect there would be a strong yes vote given Pauls poor management and excessive salary, bonuses and living allowances. Those presentation slides haven't been changed in a few years, its fricking embarrassing! And he keeps overstating the true cash balance, the guys is dishonest and has lost nearly all credibility, consistently releases news late. Its Chinese winter soon, so no drilling, another year lost yet Paul takes home nearly a million USD from lrl and len, lets wake up and give him the boot!!!

[pro_better] 06/10/2014 13:12

first of all, to do what you are saying, you need to have majority of shareholders...small PI do not account for much in this company, I am afraid...


ProPunter23Red
6 Oct'14 - 12:48 - 1963 of 1964

[rcturner2] 06/10/2014 13:10

Propunter, you need to be able to call an EGM and present a resolution to the shareholders that requires a majority to vote in favour.

To call the EGM, my understanding is you either need the support of 10% of the shares or 200 shareholders (who have to have a minimum holding which can be a bit difficult to calculate).

[wordog] 06/10/2014 12:51

I think they booked the presentation based on something that fell through and just went ahead anyway?

[wordog] 04/10/2014 11:21

It's a pity, so much promise.

[nick297] 03/10/2014 19:28

RCT, don't forget PA's short term target.

[rcturner2] 03/10/2014 15:34

Thanks CK. I had high hopes here, but it looks like the basin is proving very difficult from a geological point of view.

[cupra kid] 03/10/2014 15:31

Fair play RCT, hope the other investements go well for you.

[rcturner2] 03/10/2014 15:22

CK, my loss was about £3k. I tend to take the view that you cannot win on every investment, I am happy to be open about losses and gains. I made good profits in the sector on UEN, PTR and GED, losing currently on GKP (sold half at 90p).

At the moment, the main winners for me are stocks like PRES and TSTL, I much prefer small growing companies these days, I think the O&G sector works for the directors and thats about it.

[cupra kid] 03/10/2014 15:10

I think he said he had an average of 5p and sold at 4p and had 400,000 shares. £4k loss may seem small in the scheme of things but if I lost 20% on every investment....well I'd be broke!

[happyman7] 03/10/2014 13:35

wordog, no he said he made small loss here, he has been an utter nuisance on the UEN bb, i am feeling good now, that UEN has come good, despite his contiuous decamping on that share for months.

[pro_better] 03/10/2014 08:33

if they give bonuses to themselves for 2014 that would be it for me.

[nick297] 02/10/2014 21:17

Wordog nobody can make any money here apart from PA and his world famous team through huge bonuses and salaries. Apparently PA is seriously thinking of revising his short term target and a buy back option when share price is near 1p.

[wordog] 02/10/2014 19:19

Happyman7 if it makes you feel any better there is no chance he has made a penny here lol.