Well one large TO has happened as stated by Seeking Alpha today Repsol for Talisman There is a mention of European companies interested in shale, we can, but hope! "The deal, valued at $8/share here in the United States, means that Spain's Repsol (OTCQX:REPYY) will pay $8.3 billion for the oil company while also assuming $4.7 billion in debt. Buying Talisman is significant because it increases Repsol's production and reserves in areas which are safe, ensuring that another event such as that which took place in Argentina will not once again dramatically impact the company. This will also open the door to Asia for Repsol.
Repsol's acquisition is the first major deal to take place since oil's slide began but it sets a benchmark for other deals and could pave the way for more European buyers to emerge for North American energy assets. It has been rumored over the past year that there are numerous European energy companies looking to be buyers, so we would not be surprised to see others, such as Statoil ASA (NYSE:STO), begin to approach some of the shale explorers."
Well Name: <Condit 1-5H> Pun Number: <137-210689-0-0000> Location: <Oklahoma> Formation: <Woodford> Operator: <Continental Resources> NRI%: <0.04981> Net Cost: <6077> Status: <Producing> Initial Production Date: <28/06/2013> Net IPR: <6.6> Latest Gross Production: <Jun14 - Aug14> <Oil - 1.2bo> <Gas - 30.3boe> Comment: <Either the oil production is non existent or just not being reported, strange as some months look OK and then others shown nothing.>
Disclaimer:- This information is correct to the best of my knowledge and is based on publicly available information. Any corrections or additional information will be gladly received
There may well be some activity going on in the background, but I think that the likelihood of a sale with anything approaching acceptable terms in the current climate is slim indeed. The last we heard was that Steven and Rita were working on an acquisition. If they were at an advanced stage before the oil price drop, it may be that a renegotiation is taking place or that things have fallen through. Either way, I am uncomfortable with the uncertainty and believe that this will drift lower, a la NCT and NTOG.
I am a token shareholder here as I still have 69 shares and regulars will know that I was stopped out of my million + holding last week. As Mr.Tom Winnifrith's shorting target of 0.6 is approaching, I am thinking of taking the missus for Christmas pizza at his restaurant to concede that I got it wrong. For me, there are some cracking bargains in the market now, and my capital as been redeployed elsewhere. In the absence of a significant catalyst, this has further to fall and investors will likely sell in to any rise from these levels in order to make good their escape. Not a happy ending by the looks of things but, there is still a part of me willing Steven & Rita to pull something substantial out of the hat and for my love affair to continue. My concern is that things might have gone horribly wrong - hence the silence from the company. On the other hand it might be that matters are at a critical stage - who knows?
Well, I was expecting something in November and we got nowt!! Most unusual and I wonder why this might be, perhaps something going on in the background. A merger or an outright sale?? Hmmm, anyway, let's hope we get something this week. GLA
In fairness, for me its very clear, I would BUY stocks like the oil sector when there down and sell when their high...that i thought was the whole point in investing..buy low, sell high...hence why i wont be selling any MAGP until i deem them to be high..which will most likely be T/O.
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