Leyshon Energy Share Discussion Threads

[trade75] 17/10/2014 00:30

Anyone knows when share purchase will start? Has anyone asked PA recently? as it will boost the price for sure.

[ultrapunch] 16/10/2014 22:35

PA can afford to laugh on his mega salary and bonuses, nick!!

[nick297] 16/10/2014 22:13

PA must be laughing at us if he is reading these posts.

[ultrapunch] 16/10/2014 20:21

RCTurner. You mentioned that dog TRAP 2 days ago. Down another 32.5% today on a bad RNS. Now under 3.5p. Do you remember Pro_S2009 from early 2013? He was correct on LRL/LEN, but completely wrong on TRAP!!

Best to steer clear of AIM stocks. It's just a licence to lose money.

I only have a few LOGP and even less PVR. Nothing else. Not in LEN or LRL.

[pro_better] 16/10/2014 11:28

lets agree to disagree on the cash front...

eoy is not far away!

[rcturner2] 16/10/2014 09:49

The latest RNS states:

"The Company has US$26 million cash on hand, this does not however take into account outstanding liabilities for the work in hand and previous creditors estimated around US$5 million."

PB I don't agree with your figure of $15m, it reads $21m to me. Wages and other direct costs will be paid month by month and so must be reflected by the cash on hand figure. The $5m covers the cost of the current work programme ($4m) and other costs of $1m (whatever they are).

[pro_better] 16/10/2014 08:33

morning lads,

bottom line: c.$15m as of 31/12 !!!

[rvsy38] 15/10/2014 19:26

RCT2

I believe the US$4 million is for well 8

[rcturner2] 15/10/2014 19:03

PB, my reading of it is that $5m includes the $4m, not that they are additional to each other.

[rvsy38] 15/10/2014 18:36

Most of the recent posts are deliberately trying to show LEN's financial situation is worse than it actually is.

As RCTurner pointed out they currently have US$ 21 million after paying off the liabilities for the work currently in hand.

Reading between the lines of the last RNS and the delay in spudding well ZJS8 my guess is that the company is looking long and hard at where they will drill this well.

Someone posted a comment that LEN would need to raise more funds. I think that is extremely unlikely - they would still have about US$ 17 million after drilling and testing well ZJS8.

Also I heard from a contact in the city that LEN had the ability to raise over US$100 million in bank finance in connection with one of the acquisitions they had been pursuing. I presume this must be due to the financial heavy weights on the board ( Manzoni and Howell).

[wordog] 15/10/2014 16:59

Should have read $24 mil or £15 mil. Still 6 p a share minus recent expenses mentioned previously.

Still very reluctant to buy back in here but will keep an eye on it for a short term profit.

[pro_better] 15/10/2014 16:52

lads, it is USD.

$26m cash in hand
minus $5m for past creditors
minus $4m for the current programme
minus c.$2m for 2014 salaries ?

in other words as of 31/12: c.USD15m cash in hand !!!

in two and half years they have spent around $30m for 4 wells!

[rcturner2] 15/10/2014 16:46

The last statement was pretty clear, $25m of cash with $5m of liabilities for the current work programme and other costs.

[pro_better] 15/10/2014 16:38

cash is $21m (including the extra unpaid work due)

minus $4m the current testing and Z8

minus 2014 salaries! lets say $2m?

so as of 31/12 the cashier will have around $15m!


The next programme for 2015 if they proceed is costing around $17m....

New asset acquisition? How much?
Salaries and bonuses for 2015?


IMHO market thinks cash is not enough and fund raising is on the cards at some point next year...hence the little valuation on the company...add on top the poor results overall and the general slow and low amount of work being done in this company...

[wordog] 15/10/2014 16:26

Mkt Cap £5.92 mil
Cash in bank £24 mil (as at June 14 - unaudited)
Cash worth 6p per share

Current share price 2.37p!!!!!

Even if you cost in the current programme and further losses this is still offering great value for money. Pity I have lost all confidence in this company. £1.1 mil on wages last year!!!

[pro_better] 15/10/2014 14:38

this year should be higher the salary bill...considering the high rollers!

2014 : $4m for the testing and z8.... plus $5m for previous unpaid work (!?).... plus the salaries and bonuses for 2014 .... over $10m expenses!

smells innit?

[wordog] 15/10/2014 13:20

£1.2 mil on wages last year.

[sos100] 15/10/2014 10:55

15-16P pmsl

[pro_better] 15/10/2014 10:00

still testing Z7??? mid October FFS!


well we can't complain. 2014 was a very busy year with lots of developments!

[rcturner2] 14/10/2014 13:38

ultra, a sad but common story here. Replicated all over AIM in this sector. TRAP is the latest one to catch my eye.

[wordog] 14/10/2014 00:28

ultra, I thought you had bailed out of this?

[ultrapunch] 13/10/2014 16:56

I agree with you RCT.

LEN is turning out to be a stinking POS. Still even a POS has some value as manure so I presume there will come a time when LEN becomes an attractive short term buy. However when that will be I have no idea.