It was letsdance aka firehose a notorious ramper/deramper. He...

It was letsdance aka firehose a notorious ramper/deramper. He obviously wants out.

Ultrapunch on LSE

letsdance posted that rumour on here on friday. He joined lse that day and it was his 1st post. He has since been banned and his posts removed. letsdance was obviously FireHose/QuietFingers who had previously been banned.

I can't see Sino Gas paying 28p in an all share offer for LRL (around £70m) though they would no doubt like to get their hands on LRL's US$40m of cash (around £27m).

You sure it wasn't 28 cents per share that was mentioned. HotCopper is an Aussie message board after all. I'm sure they would talk of AUD and Cents rather than GBP and pence!!

28 cents would equate to around 18 pence. That would value LRL at around 45m. For £45m of Sino Gas paper Sino Gas would get £27m of cash and value the Zijinshan PSC at £18m (I assume Atherley would keep Mt Leyshon).

It's not impossible. Sino Gas would then have stakes in the 4 PSC's. They could probably have bought Zijinshan (PAPL) from CAMAC a lot cheaper (LRL paid less than US$4m), but LRL have forked out another circa US$10m and ZJS5 did have a commercial flow from just 1 zone. Sino Gas might think it worthwhile paying £18m for PAPL to get hold of the £27m of cash.

It's all feasible, but IMO it's just someone spinning a yarn to push up the LRL sp so they can sell their LRL. at a higher price.

Who knows?!