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After speaking with AR... Firstly have to say what an approachable guy he is, which for me is very important when investing that the main man takes time to speak with his shareholders... Also obviously no price sensitive information was discussed, it was a general chat on his visions from here.. I wont copy and paste the email, so please don't ask.. It seems that the company have some very interesting technology and have probably spent £20-£25 million pounds in developing it over the past decade.. When the new bod looked at this, they believe this has value.. Moving forward, the companies cash burn is about £250k per annum, and the starting cash balance will be about £1.5 million.. Assuming then with the new fund raise, and if the open offer is taken in full, then the market value including cash is about £2.6m In relation to cash burn going forward, Vialogy will own all of the patents to the technology, and own 75% of the trading entity.. The balance will be left with Mr Gulati, and the key is he and his operators pay all of the operating overheads.. The aim of the new bod is they believe that the existing business has a value, but they want to build an operating business in to the PLC so we then have revenue and a bottom line.. The new bod have put their money where their mouths are, and on that basis, and my points above I believe this to be a great turn around stock, and am looking forward to the ride, which Adam said he hopes to make exciting.. To summarise, a cash shell, with plenty of money to back the mcap, interesting tech already in place, and a new bod with a great track record of turning around aim stock.. Just my take on things..
I for one would have loved to see DES carry on. They had oil and needed a little luck, thats all history now. Good luck to every one who is still involved.
Just removed des from my watch list and it felt good. Good luck with fogl everyone.
No need to post on here anymore- hopefully we have some more luck with FOGL ..... All that is left is memories of the Oil to water fiasco!! bye bye..........see you on the FOGL side!
Hi there. I invest with TD Direct (TD Waterhouse) and my portfolio now shows FOGL shares instead of DES. I am up and running so to speak. It is certainly an end of an era. Good luck in the future. ATVB BB
''...The admission to trading on AIM of the Desire Shares will be cancelled with effect from 07.00 a.m. on 6 December 2013'' . In summary no more trading as DES from 06/12/13. New 'share certificates issued' for FOGL ''no later'' than 19/12/13. Therefore this suggests everything from the 6th Dec onwards became FOGL - that's how I'm ready the RNS 5/12/13 - Good luck for 2014.
Thanks for your post. For info, my DES shares have gone (no longer ID'd as DES) from my trading account and are now FOGL... I certainly wont betrading DES up to the 19th LOL :(
Average cost of DES - £00.62, Average ocst of FOGL - £01.10 WTH (F)...!
Under the farm-out agreement to Premier and Rockhopper, the combined group will retain a 40% interest in PL04a and PL04c in exchange for a carry on one exploration well in each licence, ElaineIsobelIreneZebedeeJaynePL004aPL004bPL004c Falkland Oil & Gas | 6 December 2013 4 expected to be Jayne and Isobel.
first of the good times ahead reports / research from edison http://www.edisoninvestmentresearch.com/serve_pdf.php?d=researchreports&f=FOGL061213Outlook.pdf
Duster should not have bought in greedy times in the past money was needed oily & quick from rockhopper to desire one chance to another all the bull carp on the boards & I got locked in on a weekend along with a lot of others in the past history will I learn, will others doubt it. Still take a chance were there's oil there's money & greed good luck All.
yes it sure does fella,we should get a bounce as soon as the rig moves into place.
I will catch up with you on the new board , new era starts in earnest in first quarter 2014 GLA
fogl now on it,exciting times ahead.
i cant wait to see the back of des,been 1 disapointment after another,bring on the new era,
I would like to say its been a pleasure BUT I cant ,Time to leave you for pastures new ,Faire une difference entre au revoir !
thank you very much guys for the info, it quite straight forward when you think about it......obviously i wasn't switched on enough last night when I asked the question. again many thanks :)
sorry my maths is wrong,for every des share you will recevie 0,62233 share,so thats a lot more than 3115 if you have 5k of des
the deal isnt done proper m8 until your des shares are replaced by fogl ones,then the sp will start to rise hopefully.
yes thats correct fella,but you will get less fogl shares as they are greater in value,so for your 5k,you will receive approx 3115 shares ie 0,6223 fogl share for 1 of your des shares.
But if you had shares worth 5k wouldnt it be worth £3150? the actual value? thanks for your infor gerkin...and explain why the sp can't move any higher now the deals done ?
and its a bit of noob one i'm afraid (apologies - i've never been in a take over situation before regarding shares!!!) with FOGL taking over DES I'm presuming our shares will be transferred over to FOGL. So for arguments sake you have 5ks worth of DES this will convert into 5ks worth of FOGL?
YOURE RIGHT COS SHE'S LYING HERE WITH ME !!!