forwardloop
17 Jun 2016
suspension to be lifted 7.30am on 22nd June 201 The Company has therefore requested that the suspension of the Company's ordinary shares from trading on AIM be lifted with effect from 7.30am on 22nd June 2016.
sobeit
17 Jun 2016
Re: Placing In fact, if the sums are correct, there are now 480m shares in issue based on 210m shares representing 43.7% of the enlarged share holding.The remaining 100m shares are taken up with the allocation to LC Capital Master Fund who will subsequently own 28.8% of Lansdowne when £930,000 of debt is converted to shares.But what a discount the shares were traded at. When suspended the share price was 2.12p and they issued shares to their "friends" at 1p. Now, who would not like a deal like that? This really is a "penny" share.It is also stated that Lansdowne shares will start trading again on 22nd of June.
sobeit
17 Jun 2016
Re: Placing I think you will find the placing raises the shares issued by about 130%. Previously there was about 160m and now there are 370m.The short term benefit of this though is survival but somebody is going to make an absolute killing out of this share if they ever announce a deal for Barryroe.If you work out that they are entitled to say 60mmbbls (20% of Barryroe) of oil at a price of say $50 and the production cost is $30 per barrel that equates to 60m x $20 equals $1.2billion profit.So, if you then look at a company currently worth about £5m with potential assets of £1billion what will the share price be if Barryroe ever gets off the ground? And here are "friends" of Lansdowne buying the shares for 1p.I note there is still no mention of raising the suspension even though the money has been raised.
waytogo333
17 Jun 2016
Re: Placing Actually, for 50%, read 100%.
waytogo333
17 Jun 2016
Placing After a quick skim of the RNS - placing at 1p enlarging share capital by 50% approx.Enough to pay Transocean costs and working capital to mid 2017.Another one that's now not worth selling...................
sobeit
09 Jun 2016
This was very quiet It seems that SeaEnergy which holds about 18.7% of Lansdowne indirectly went into administration about six days ago.[link] we will all have new shares tomorrow when the nominal value will be .001p. It will be interesting when they issue the 350m new shares at this nominal value what price they issue them at.They should go for about 1.5p a share giving them about £5m so that they can cover Transocean and have a bit in the bank while they wait to see what is going to happen to Barryroe since that is the only real asset Lansdowne now has.
waytogo333
27 May 2016
Jesus wept.........someone just put the light out at the end of the very long tunnel we're in.....Talk about dilution, holding virtually worthless now.
forwardloop
13 Apr 2016
Re: Court Case [link]
ddz
13 Apr 2016
Court Case Before LORD JUSTICE MOORE-BICK Vice President of the Court of Appeal, Civil DivisionLORD JUSTICE MCFARLANE andLORD JUSTICE BRIGGSWednesday, 13th April, 2016At half-past 10for judgmentAPPEALFrom The Queen's Bench Division(Commercial)FINAL DECISIONSA3/2015/0855 Transocean Drilling UK Limited -v- Providence Resources PLC. Appeal of Claimant from the order of Mr Justice Popplewell, dated 20th February 2015, filed 13th March 2015.
forwardloop
11 Mar 2016
Barryroe [link]
sobeit
04 Mar 2016
Lansdowne Strategic Review Last April, the 8th to be exact, Lansdowne initiated a "strategic review" the basis for which:"The company says it is undertaking a careful evaluation of its business plan, operational assets, development strategy, market valuation of assets and capital structure."Now, I know things move slowly down here in the pits but taking a year over the review seems a bit strong.Will we get an update before the anniversary of 8th April 2016 so that we can see an end to those interminable 8.5 filings that are taking up so much space on RNS especially when they could be for a buy/sell of a few thousand shares costing peanuts?
forwardloop
17 Dec 2015
Re: Some interest [link]
sobeit
17 Dec 2015
Some interest Obviously the rise in price of Lansdowne today is connected to the Trading Statement today from Providence. Check it out on the Providence BB if you have not read it.At least something seems to be moving on Barryroe and the statement that they are "Assessing separate fast-track development options of the highly productive upper gas bearing reservoir."must be of major interest to Lansdowne as they own 20% of it.And given that we are promised an update on the farm-out of Barryroe in the New Year would indicate that things might be further along than we have yet ascertained.Perhaps I will be able to buy my Christmas turkey after all given that I though all the turkeys were tied up in the attempts to farm-out Barryroe.
david polson
24 Nov 2015
Back to the Future Perhaps the De Lorian has been used to nip ahead to October 15th 2025... If so, this must mean...LANSDOWNE OIL23 Nov 2015 13:40:55Emmet K BrownRNS Number : 6325GEmmet K Brown23 November 2015
waytogo333
03 Nov 2015
Extension "The extensions to both the term and the area of the Barryroe licence will provide the current partners with greater security of tenure as we seek to advance the project. It also ensures that the SEL 1/11 partners will benefit from any further upside resource potential in the area immediately adjacent to the previous licence boundary."Bit of good news at last.......now they just have to do something with it!!
