SLE

Jackozy,

I had no idea about a possible merger. San Leon have had farm outs with Genel and Cairn that brought in about $2m and left them with 8% and 14% of off shore Morroco licences.

The merger took us by surprise and undoubtedly there was a fake rise leading up to the announcement.

It is a company that is currently drilling and has many different prospects including Ireland, Morroco and Poland.

I know you only worry about the charts these days and it is good that the chart has not turned ugly after Mondays fall.

I think we have a good chance of a profit between now and year end.

Hi Elena,

I must apologise if my post came across as critical of you or anyone else - that certainly wasn't my intention! There's only one person responsible for my trade decisions and that's me of course!

I wouldn't expect you or anyone else to know of such news prior to its release. The chart had a definite breakout and closed pretty much at the high of the day so I felt very comfortable with my earlier entry. I did expect it to drop back to around the 9p mark before continuing but there you go.

In fact, On Sunday night it did occur to me that Friday's action had all the hallmarks of some major news coming and, knowing a bit about SLE, I did wonder if a T/O bid was coming so was not surprised by Monday's news (or the sell-off).

I'm also familiar with AUL and there's no doubt in my mind that this merger is a very positive move - there is a lot of synergy there - and the long term opex savings will be significant. AUL has plenty of acreage here in my home city of Poznan and SLE has the Nowy Sol concession 100 kms or so east of here as well as the Gdansk ones. It makes perfect sense for these two companies to merge and I still wouldn't be at all surprised to see PGNiG make a bid. That is unless Kulczyk gets them first - he's made public his desire to acquire as much of Poland's gas and oil production as possible (he also owns, amongst many other assets, Poznan's city centre Stary Browar shopping centre, voted world's best in 2005 I think, within which his wife owns one of the top 50 small boutique hotels in the world, the oddly named 50/50 Blow Up Hall, which comes complete with bulters and an iPhone rather than a key to help you locate your room).

The new SLE is predominantly not exploring as I understand it - the oil and gas is known to be there - so it's simply a matter of monitisation through production and they have very experienced partners as you say (includng PGNiG).

So, fundamentally I think it's a great move. Chart-wise, I think yesterday's hammer and today's action suggest that my Friday purchase could well be in profit, as you say, before year end.

Maybe I could request a share certificate and turn up at the sites brandishing it and demanding to be shown around "my" company's assets?!...

Jackozy,

I think it would be an excellent idea to visit the sites armed with binoculars or posing as a beer seller or food seller?

You should be able to work out what is happening. Take photos or videos.

But you could not post inside information here. I am sure Polish jails are much harsher than you would be used to!

But you could post a suspiciouisly bullish chart and give us all a broad hint.

Lazard Asset Management bought 39,000 to add to their 19 million yesterday @ 8.16p

SP now in positive territory.

Lol! If I go and sell beer I may end up looking like my avatar and I couldn't possibly bring myself to sell pierogi, bigos, golonka or (almost) any of the other food that's sold here but thanks for the suggestions!

Possible breakout of downtrend occurring on this (after the last false dawn so beware):



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Very risky penny share and has caused false hope before....

Downtrend breakout, backtest and a higher low and higher high after bullish RSI and MACD divs on this one now...could it finally be?



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