Oil Man Jim Company Oil & Gas Podcast & Blog, 8th July 2020
July 8, 2020
The week started well with a recommended cash offer for RockRose Energy (RRE) of 1,850p per share, which takes virtually all investors out at a substantial profit.
I first bought a couple of tranches of RRE around 130p and received a 150p per share “return of capital” a few months later. It's a rare company that actually makes cash.
Perhaps to follow in its footsteps is Longboat Energy (LBE), which announced founders incentive plan awards under which "participants are eligible to receive 15% of the growth in returns of the Company from the date of Admission should a hurdle of doubling of the total shareholder return be met.” LBE was highlighted in the private blog three months ago in the 50s and it’s now back trading around the admission price of £1.