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Today Lenigas Cuba (CUBA) purchased a further interest in MEO Australia as set out below - needless to say this is another Jabba The Hutt deal where the numbers only make sense if you use Leni-maths.
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Comments
Drunken Sailor
If they are prepared to accept an investment in worthless LGC ISDX lobsterpot shares then the whole thing is worthless, just multiply everything by 0 and 0+0=0
Presumably they will need some real cash from somewhere to start exploring, where is that going to come from? Selling LCG shares in the lobster pot. Raising more cash by issue of shares in the lobster pot?
Duck and Dive
The limited onshore stuff is thick tar and nasty while the supposed offshore reservoirs haven’t been discovered yet. Nobody wants a piece of the action apart from Dreamer Dave so he has surely overpaid (again) for his Block 9 folly. If he really has spunked £1.5m on a Cuban myth, nobody seems to care. This RNS failed to stir the faithful into buying any shares (as did his previous rampity RNS). The dream is dead. Lenigas is sinking.
PS. Never allow anyone to invest your money in unlisted entities as you’ll never know how or why or when you lost it all.
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11588089/Cuba-says-it-has-found-giant-oil-field-US-doesnt-care.html
http://mountainmystery.com/2014/12/30/has-cuba-got-oil/
http://www.nola.com/business/index.ssf/2014/12/cubas_oil_future_surrounded_by.html