Kiss Me Goodbye, Hardy and Let Me Go, LGO.

Comments

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   J P Spaghetti

   21 September 2015, 01:22

   Sorry to hear that LGO and Hardy have set you back Malcolm, but how fitting that these losses should be offset by a company called Dragon given your adopted homeland: “More things in heaven and earth, Horatio” and all that!

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   Phil

   21 September 2015, 01:28

   Wouldn’t like to have RSA on call this morning, jumping off of roof top time, I’ll bet there are more than a few burnt fingers this morning

   However there was a warning, if you had learned where to look. 25th Aug 2015 RSA issued an RNS which included an extension, extensions (of whatever kind) are always bad news in a RTO or T/O, effectively they are a sell note.

   I have known all along that the BG/Shell T/O would easily pass through the regulatory process until the vested interest in Australia would get their hands on it. I would hope it will have been expected and both parties will already have the necessary stance to take the Australians into account.

   However if they don’t, I will be out of it in a flash, not because they wont get passed it, because they should have known it was coming.

   I have a long term open in BG, which I will almost certainly take into Shell, I wouldn’t consider BG to have been one of my better buys over these years, and I don’t really consider Shell to be either. Perhaps this will wake em both up

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   wildrides

   21 September 2015, 01:58

   Malcoooooooooooooooooooooooom! O yea of little faith …………. LGO will come back to you when oil price improves ………… and alot faster than Shell B or BP will . They will one bag and LGO will three bag . Averaging down when oil price improvement starts is surely a better plan ?

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   Malcolm Stacey

   21 September 2015, 03:53

   Thanks, gang. Wilders I hope so. I took your advice on going into LGO, and your tips are very often brill – in the end. So I’ve changed my mind and have now decided to hang on for a recovery in oil price, too. BG is my biggest holding, Philo. I expect it to rise to £13 from the present tenner when the merger gets nearer. And yes I was hold RSA when the bad news came. More on that from me tomorrow. Spaggers – Yep, Dragon Oil has saved me an oily hell. Still up on oil shares this year.

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   wildrides

   21 September 2015, 07:10

   Yeah, very big hands up from me to you for that shite tip I gave you, Sorry ………….. I am confident she will come back to you over time tho . I was in alot earlier than you so I made a hell of a lot and then promptly lost half of it again through comatose inaction . I sold half at the top and stupidly let the other half wither on the vine all the way back down ……….. will I ever learn . Sometimes I make the same mistakes as I made big time 7 or 8 years ago ……. what is that all about ? I must be getting old or something !

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   Malcolm Stacey

   21 September 2015, 07:55

   It’s worse for me Wilders. I make mistakes today which I would never have made 25 years ago. Iflag up all the common boobs in my book ‘Share Attack,’ but I still make ‘em myself.

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   Craig

   21 September 2015, 08:09

   Malc, haven’t heard much more comment from you on the tiddler Feedback. Sold Texrad scanners into Canada and China since a placing 3 months ago at 1.8p and now sitting at 1.675p. Surely room for an AVO esque lift off perhaps….

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   Phil

   21 September 2015, 08:27

   Malcolm

   It was great news when I heard Shell had made a move on BG, I couldn’t wait to be rid of it. It hasn’t been a loser for me, but when I look at other shares I have held for the same time or longer BG doesn’t stand out by any means.
   I have taken a trading buy (on your tip), and I agree with you, things should warm up a bit further up the line.

   I had a margin broker phone me this morning just for a chat, they had a few burnt fingers this morning with Zurich pulling out of RSA, if someone had told me there were people trying to trade Zurich/RSA on a margin trade, I would never have believed it.

   Dumb as that is, it isn’t as dumb as forming an Action Group to keep a fraudster (Terry re QPP) in place. That was always going to be the most dumb-ass of them all but then Chris Oil has turned, up, so you never know.

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   Drunken Sailor

   21 September 2015, 08:34

   Malcolm,

   You have the breaking strain of a wet lettuce leaf! You had made up your mind to sell – about 3 months too late, but better late than never. Then you let yourself get talked out of it really easily. One day, maybe 3 years down the line, LGO might get back to where it is today. In the meantime there is nothing but pain ahead for shareholders. Tom’s analysis is spot on. The best asset LGO had was the ramptastic Lenigas who could be relied on to raise money early when things looked dodgy. Without big Dave at the helm the shareprice will drift lower and lower until the inevitable mega diluting placing is needed desperately and it will be done at maybe a third of the price today. With all that dilution the chances of getting back to where it is today are slim. I see no short term reason why the oil price is going to rise significantly and more and more distressed companies are going to be chasing after fewer and fewer investors prepared to put new money in. Learn the lessons from AFREN! don’t just hold in hope, take your losses and put the money into something sensible. If LGO is still around in 2 years then maybe it will be worth bottom fishing.

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    Malcolm Stacey

    21 September 2015, 10:23

    You’re right there, Drunkers. If I had any sense at all I would follow my own advice. But too often I let my pride rule my head. It’s always very hard for me to sell at a loss, or to resist advice from fellow traders whom I respect.

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    wildrides

    21 September 2015, 11:09

    Drunk ………. your way out there ……… LGO drilled 7 wells this summer …….. the sales output of which was not included in the interims just issued . They have another 45 permitted up ready to drill when they want . There is no hurry up . Just a panic started by SP. The very reason oil price will rise is for the very same reason LGO are cutting output . Its Barely economic at current prices . The price will be rising by Xmas . Trinity for example ( next door to LGO ) , is drilling zero wells this year and instead going into low cost, managed decline . This is happening world wide . There will be a tipping point and it wont be two years away .

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    Malcolm Stacey

    21 September 2015, 12:50

    Craig I did a piece on Feedback three days ago – including the China sale. It was titled: The Chinese Appetite for British Medical Science Will Benefit Feedback Fans. And you’re right, this one is going places, it’s just that the City hasn’t woken up to it yet – it’s so small.

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    Drunken Sailor

    22 September 2015, 06:51

    Wildes,

    “the Company is revising its medium-term Group production guidance from 2,000 to 1,500 bopd. Additional production potential may be realised through the 2015 wells drilled to date, however, it is considered prudent to base the short-term expected cash flow for reinvestment on conservative estimates of both production and oil price realisation.”

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    alcira16247

    22 September 2015, 08:54

    Malcolm

    Thalassa (THAL) have released their interim results this morning.

    Duncan Soukup, Executive Chairman, of this highly regarded company has issued a very concise sober statement analysing the present energy market and likely future outcomes.

    In my opinion well worth a read.

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    Adge

    22 September 2015, 11:25

    None of you seem concerned about renewed production from Iran keeping the oil price low for a very long time?