Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Output,
Old Eytan could’ve stuck with eor/ Prd and probably had a fair bit more production by now. My guess is CEG panicked about mounting liabilities at the time and pulled the plug. It’ll all come out in the wash I suppose.
I guess with the focus on finding alternatives to Russian oil/gas regions like the Caribbean are going to become ever more valuable. So you may well get back some of your losses here. Relieved to hear you’ve only got a small % in CEG. They’ve landed on their feet with that licence though.
The big problem I see is the BOD here couldn’t manage a Greggs.
Anyway, good luck with your investments
Mick
Mick, talking about Meta, I'm indirectly invested through eToro's MetaverseLife Smart Portfolio product in which Meta forms part. I bought units a couple of days ago. Seems to be doing okay. So far, up 7%.
I've been in CEG way back when BPC went from the Falklands exploration to the Bahamas which attracted me because there was a lot of Falklands exploration at the time. So, I've been here for donkey's years. CEG feels like a different outfit today. Still think there is oil in the Bahamas. Agree, CEG doesn't have the means to locate it without a major farmout. Uruguay seems like a bonus. There is a real chance to strike agreements there. The rest of the prospects are bread and butter. Certainly, TT is. Think Eytan is doing the best he can with the means he has and that means bread and butter work and partnering up for risky exploration. The fact is the company is still here and whilst the company still exists there is always a chance to recover losses no matter how unlikely. It just means averaging. The question is would I put money here rather than, say, MeatverseLife portfolio? I only put in a fraction in CEG which is enough to roll out the averages and hope for the best. Know fully well nothing might come from it. It's just nice to know that Uruguay is in the background and any good news there might spring into the Bahamas again. There is oil there because I recently invested in a company that drilled and is further drilling in Cuba and located large quantities of oil not far from where P1 was geographical.
Output,
I think at this moment in time institutions probably do. And yet look at META.
Apart from the Uruguayan licence, I can’t see any reason to be invested here. The one thing that would worry me is that the people running CEG don’t actually have a good record of finding stuff in the ground. I suppose you could always farm it out to someone who knows what to do with it. Or use it to pay your PRD debts :-D
Mick, are you implying that the perceived risk in holding PRD is greater than the perceived risk in holding CEG?
Output,
The number of institutions holding a share doesn’t tell you much other than maybe the perceived risk associated with the underlying company. Note perceived, not actual risk. If you look at an extreme example, META has over 4000 institutional investors who own 77% of the company. It’s still down about 40% YTD.
As far as PRD goes, the share price is neither here nor there. The stated aim is to sell off the various divisions as they mature. I’m not arsed if institutional investors benefit from that or not.
Mick
Mick, No institutions are holding PRD and yet 4 institutions are holding CEG. Probably explains the increase in PRD, right?
AU$100m lost and the main investor was Queensland superannuation fund. I hope Merseyside of did their due dilligence :-)
Yeah, clearly Mark Carnegie only ever invests in winners
https://www.theweeklysource.com.au/investment-bank-m-h-carnegie-and-catalyst-health-suing-presbyterian-church-of-queensland-over-townsville-aged-care-home/
ATB
It's always the old rich that squeezes the penny, Mick. No one is going to throw away 500k on a mickey mouse venture. Apologies buddy. Had to laugh at that one-off.
Hold the front page….man worth £2670000000 invests £500k in spiv energy firm.
Also, has Uliel ever stuck his hand in his pocket or are they all options gifted to him by your good selves?
Burren,
G.P. (Jersey) Ltd... increased
RAB Capital Ltd ... increased
Eytan certainly put his money where his mouth is recent. Potter is left holding just over a mere 12 million shares. So, he's likely fried and out of the picture.
The accounts are delayed but would you bet against the horse's mouth? It's hard to call.
Exactly, it's all a front to make it look like the business is going to do well. Probably paid for out of the last 8 million placing.
Burren,
What I find interesting is:
Carnegie (Mark)
Choice Investments (Dubbo) Pty. Ltd.
Rookharp Capital Pty. Ltd.
Uliel (Eytan).... Increasing
Holding over 1/2 billion shares
Merseyside Pension Fund
Just under... increasing.
I guess if these are wrong then how can anyone be right.
Probably will fold soon as the share has been obliterated.
Probably best to sell and wait for accounts. If they are good you can always buy in again, probably be a lot lower in the build up and then rise to current price.
I wonder why CEG delayed accounts. Maybe rhe are mulling a takeover?
Burren,
I could issue a press release that I'm going to sue you for defamation causing valuation loss and further loss of business. However, it won't get very far because there is no case to answer for.
if CEG settle for 30%. big placing and give PRD 20% of the company maybe?
Here’s the statement itself, if anyone would like to pick the bones out of it:
https://www.investegate.co.uk/predator-o--38-g-hldgs--prd-/rns/trinidad-update---fram-loan/202206070700069069N/
Suspicion falls on PRD's chronology which would reflect badly on other forward-looking statements made with other matters not related to CEG.
All I know is what was in PRD statement of why they are seeking legal action, happy to listen if you have other information regarding.
no, i dont.
I’m pleased you are reassured at the adequacy of that statement- do you know why PRD were booted off site?
It’s a tactical decision to not share details at this time, if challenger was to make statement defending its position publicly it would erode confidence in shareholders not give confidence, it’s for the legal process to decide ultimately. To not share information is the wisest course under this situation, that day most of Uk stocks where down not just ceg sp, PRD has fallen 14% today on it financial statements a costly legal process with ceg is making its investors nervous and not a obvious legal route has been provided in there position the burden is on them to prove foul play has occurred and they haven’t as of yet. The statement ceg provided was adequate for the circumstances and if dealt with correctly will boast there sp in the future.
Because CEG aree going to takeover PRD.
It's going to become one new company.