driveat15 - that must be right. am guessing it will be Tosca buying again (why stop now). will be intersting to get confirmation of seller identity. looks likely to be one of the significant holders and before anyone starts another conspiracy theory here, that could easily be for cash management reasons - after all this stock is up 100% off its bottom last year.
QF - and in the same way they had to announce, once this story broke, they would have to issue an RNS if the potential interest was no longer there. far more likely to my mind is that diligence is now quite advanced and everyone is waiting to get clarification on the Eroton debt reserve (which should be progressing well with time) and thus the prospect of dividend. the problem for the Chinese in waiting, is the greater visibility and certainty this model has of delivering its powerful potential, the greater the price is going to have to be. I don't see a major shareholder conspiracy to effect a squeeze as likely at all - aside from anything with 2 analyst valuations and an indicated offer, all above 80p and with news getting nearer by the day now, they would be looking at paying the kind of price they want to get here! if they had wanted to control this asset 100%, the time for that would have been at much cheaper prices.
You mean the RNS stating an approach had been made? We're all waiting but to be honest it hasn't been that long esp if there's another suitor (that onevis a chinese whisper of course!). Of course an update would be nice.
The news release was quite clear that there's no guarantee of bid etc.
"Response to Press Speculation
San Leon Energy plc, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, notes the press speculation in respect of the approach, and confirms that Geron Energy Investment is a party to the Offeror and the indicative offer price from the Offeror was 80 pence per share.
Talks are at a preliminary stage and there are significant uncertainties as to whether or not the matter will proceed further. A formal offer would only be made following due diligence.
This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Irish Takeover Rules."
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