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6p? As the owner of a one-thousandth part of HALO I find that offer insulting and derisory :)
If nothing else you're consistent, Tarquoid.
HW, if you think that they will be worth £0.04, then I would offer you £ 0.041 per share for your holding.
You could count a profit of £0.009 per s.
Thanks for the information Ghostwriter et al.
Would anyone venture their opinion as to the low and high range value they'd place on a share? (I think they ceased trading at about 12p?)
Does anyone know of any shares that have been traded by private treaty since they delisted (and the trade price)?
I am not looking to sell (I guess in common with most shareholders) since I've come to terms with the fact my shares could be worth zero (or could be be rather valuable), but simply as a point of discussion would anyone here buy shares today and what would they be prepared to pay? (again, purely hypothetically).
As an aside, does anyone have an opinion on the outlook for igas or Egdon? (sell, retain, buy?)
I'm sorry if these questions are at all naive - I'm just trying to allow myself to get excited by the prospect that I might have a pig in a poke but Lean Hog Futures are looking bright (unless you're a Lean Hog)! :)
Appreciate reading your informative posts here ghostwriter. I have a few shares in the bottom drawer here and it seems thats where they will stay at least until Dec 2020. I would like to be more positive something will happen sooner but with so many moving parts/parties even that timescale maybe optimistic. At least the potential valuations, even considering significant discounts, keeps my intrigue here regardless whether we will relist or be acquired in 2020-21.
Even if this came back at 25% of estimated 2P valuation (and lets be honest we can expect a big discount on fundamentals valuation to mcap especially with so many moving parts) it would be still be £1/share which would still deliver a nice return on the initial investment over 2yrs ago!
£4 is purely on a basic 2p comparative basis. I'm not suggesting it will return anywhere near that on a market return. What the market assigns is a different matter, as you can see from examples like RRE, which should be trading at double it's current sp on that alone (i.e. >60mmboe of 2P). There are many other factors, though a full buyout of assets will likely realise closer to fair value hence a Neptune deal would be quite appealing to shareholders. Whether Cochran would be happy with that is the question, though he is also not the major shareholder these days (Barclays via Third Energy owns 19.25%) so will have a say. They will want their money back from their circa £40m or so spent on Pegasus assets prior to HALO's purchase and wouldn't say no to a profit!
Andromeda is a key component in all this I think. HALO's assets are a natural fit for Neptune, and they look keen to build their portfolio before they seek to IPO sometime in the next year or two. They must have reached TD by now, but may not report for a while yet until they've done what they want to do with well analysis. Neither Spirit or HALO are listed so disclosure requirements are not there.
Cochran would net something like $14mn at a $160mn valuation. We have no idea what his aspirations are for HALO. I suspect that's not enough which may drive him to want to relist and grow longer term, even if a reasonably attractive offer came in. Though, he may be out-voted if that ever came into play.
He holds his cards very close and is very conservative with his communications. All we can do is wait but these comparative deal valuations are interesting nonetheless. You can't argue with the 2P reserves and $8-10 / bbl seems to be achievable in the SNS.
Just my thoughts, whether right or wrong. One day we'll find out!
HaloWorld, in addition see latest Interim Update which stated the target to relist is by Dec 2020 (obviously other events could/should accelerate this). Current shares in issue are 29,886,836.
Is the £4.00 (or 400p) the "floor" evaluation?
What about the next drilling results?
I've been reading this thread for months/years to try to get a feel for what is/might be happening with HALO, but this is my first post. I wonder if some of you who are more knowledgeable than me would venture some educated guesses/best answers to these questions. I realise all these questions (bar one or two) invite purely speculative answers - but I am interested to see other's purely speculative thinking. I hold some HALO shares, but have pretty much written them off - if that turns out to be naive then it's a bonus...
1. When do you think HALO will relist and why?
2. Is the 0.04GBP Ordinary share the predominant/only share type?
3. What do you think the 0.04GBP share is worth now, today?
4. What is the actual *realisable* value of a 0.04GBP share today, if any?
5. What do you think a 0.04GBP share will be worth in X months? (and what is X?)
6. How many 0.04GBP shares are in circulation?
Thanks in advance.
Values HALO's 19mn 2P (inclusive of OND) at $160mn. £4/sh+ equivalent. Neptune aggressively snapping up assets around as they work towards their IPO plans. HALO to form part of their strategy?
Also, makes the recent OND deal look a bargain, having paid under $5/boe for 2mmboe of 2P. Comparatively, SOLO also paid over $9/boe ($33mn for 3.6mmboe of 2P).