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Started: Faicj, 17 Feb 2021 12:32
Last post: Faicj, 17 Feb 2021 12:32
Any news
Started: AssetMatch, 4 Mar 2020 10:52
Last post: AssetMatch, 4 Mar 2020 10:52
Good morning,
I appreciate there hasn't been any activity for a while, namely owing to the AIM delisting in December 2019. However following the cancellation, Cabot put a facility in place which allow shareholders to trade in the shares if they so wish via the Asset Match platform.
If you would like to be kept updated with auction timing's, pricing and company newsflow simply email dealing@assetmatch.com and we'd be delighted to add you to that list. Similarly if you have any questions surrounding how to deal etc then please feel free to get in touch.
Many thanks,
Ben Weaver
ben.weaver@assetmatch.com
020 7248 2788
Started: Going4Gold, 26 Nov 2019 22:18
Last post: London74, 29 Nov 2019 18:13
The less people accept their rip off offer, the harder the board will have to work and offer a better price.
I can't be bothered. Not even worth my 2 minutes getting it sorted.
I wish for Averso to totally collapse, dragging the entire bod down with them.
I have 99 shares in these. Are there any pitfalls to not selling (which will obviously cost in fees). Obviously I don't want any legal implications if ownership is transferred into a private company. Or do the shares just cease to exist. i.e. Do I need to sell regardless of fees or can I just forget them?
Started: TheLoaf, 17 Nov 2019 15:53
Last post: TheLoaf, 17 Nov 2019 15:53
One of the perils of keeping certain AIM shares for a long time is that this sort of slide in share price is bound to happen.
Pump & dump for a quick profit seems a better option & always beware of fund raisings that dilute your holdings.
Started: TheLegend1, 13 Nov 2019 20:26
Last post: TheLegend1, 15 Nov 2019 10:36
Morning All,
I sympathise with you all. For me I had £50 in this it was a gamble...however you cant tell me that this mob after raising funds for the winter , this was not on the table to de list...as a plc you dont just wake up one day...and think were de list ???
Absolutely disgraceful Scott Aiken should be an absolutely ashamed of himself.
No dis respect to Scots I have Scottish friends. This is why they could never ever manage indepence...the UK would be skint.
L
I wont bother selling mine either. in a similar situation, through down a lot more. Disgrace. AIM is dead.
thats all they were left with sweet Fcuk all
my shares are worth £5.88 down £730 , cost more to sell them
Hi All,
What is going on with sells here....mms playing games or what ? They may as well of just counted 1,2,3,4,5,6,7,8 9 10 sells?? Its ridiculous....seriously who in there own mind would sell such low amounts of shares? The cost to sell them is far more than the value of the shares being sold...
L
Started: London74, 12 Nov 2019 08:25
Last post: London74, 12 Nov 2019 08:25
not much left. this bod are criminals.
I hang on to those shares, not worth selling now, not much left anyway from my initial investment.
Started: London74, 6 Nov 2019 18:43
Last post: MTwallet, 10 Nov 2019 14:24
https://www.cabot-energy.com/investors/significant-shareholders/
HPP own 72.21% so they don,t need many to push it through cheap assets through the back door
I recall that High Power Petroleum owned over 50% of CAB share when Aitken was appointed CEO, he is I think a Director or employee of High Power Petroleum.
The signal (which I missed) was when Garraway Capital Management LLP dumped their entire shareholding and there was not an RNS issued informing the market who had acquired those shares......my understanding is that these shares were sold to MM's and they do not have to disclose their shareholding even if it's over 3%.
I read recently read that losses on a share can be viewed as a cost of learning, I've certainly learned a lot owning CAB shares and like you have lost several thousands of pounds. I certainly will remember Aitken & his cohorts for many years to come.
All the best.
Thank you for your advice, it looks to me as if aitken has been brought in to grab this company for hpp, it's a bit funny that hpp kept putting in money as Cabot were looking as if they were going down, or was that aitken dragging the share price down, I've lost over £2000, which might not seem a large amount but it is to me, I'll never understand why someone people think money is everything
You will still own your CAB shares but it will be in a private and not a listed company. There will be a mechanism (see recent RNS) for trading your shares but based on my experiences in another company that I held which went private, these types of trading mechanisms only operate at certain times & there are a very limited number of trades which takes place.
fwiw, I sold out this week, took my losses & learned some very important lessons.
I have not checked the shareholding numbers but I would imagine that H2P have enough votes to push the AIM delisting proposal through.
Good luck with whatever you decide.
I bought 29000 shares in Cabot which were crushed into 500 shares, now, as I believe it, Aitken is asking shareholders to vote to leave aim, am I dreaming, or have I got it wrong. If we vote to leave will I lose everything , so who will get my shares in the private company then, can someone tell me
Started: Stevegibson503g, 9 Nov 2019 00:15
Last post: Stevegibson503g, 9 Nov 2019 00:15
TO ALL SHARHOLDERS, ID RATHER SEE THE COMPANY GO DOWN THAN SEE MY INVESTMENT STOLEN, IF ANYONE VOTES TO LEAVE YOU MUST BE STUPID, VOTE AGAINST LEAVING AIM,
Last post: MickyBee, 8 Nov 2019 12:20
Another piece of crap share
Started: London74, 31 Oct 2019 19:14
Last post: London74, 31 Oct 2019 19:14
The Company therefore announces that it intends to seek shareholder approval for the cancellation of the admission of its Ordinary Shares to trading on AIM.
So what is the plan? They would like us to approve to lose everything and hand our investment over to them? Sure, would you like my property portfolio and savings too?
Started: TheLegend1, 31 Oct 2019 07:30
Last post: oogleflugal, 31 Oct 2019 18:59
AIM has been a have ago directors playground for a considerable few years. With very few exceptions (like about 6 companies) they don't work particularly hard. They get salaries in the hundreds of thousands. A disgrace is the very polite way of putting it. Its a shame because it was great idea to have a fledgling market. Unfortunately like all great ideas without proper regulation it gets used and abused, and now as a former director of a satellite communications company has said it would be impossible to raise the amount of money he was able to on Aim such is the deterioration of its reputation. NOP/CAB's only real attraction wee the prospects of fields in the waters of southern Italy. For whatever reason Shell have been dangling a carrot in front of NOP/Cab for twenty odd years. NOP's geological director was absolutely convinced there were and are some massive oil and gas fields to be discovered. In the end thanks to Italian bureaucracy they never got the chance to drill. Bizarrely they did get a chance off the coast of Gyana in partnership with Shell, Total, Tullow and their minnow partner Wessex. It was almost scuppered by the French government who hysterically were against it on environmental grounds. The first well looked very promising which resulted in a very good offer from Total to buy out the small guys. It was too tempting to stay on board and go for the next 2 drills at about £100.000,000 a pop. It all but wiped NOP out and did Wessex. They did not fulfil the initial promise. After that they have been scratching around for income for something less risky but could not even match their original marginal income from gas production in Holland. There have been worse exploration companies and it could have been a completely different story, but they must hold the record for the longest loosing streak and the fewest amount of wells actually drilled in the history of oil companies. Sorry for all the CAB losses added to mine earlier on with NOP. Some of us did try to warn about the this company. At the very least there should be some investigation. Unfortunately there are too many on Aim in need of that and too few regulators. The success for oil and mining companies on aim is probably about 1 in 100. Not great odds
Morning All
I'm gutted to read this....disgraceful rns....
Firstly I'm a very small Pi. 2k shares £50.00. However this Aitken guy is a disgrace. He should be ashamed of himself. To think the Scots want independence really ???
If this how the scotts...not all scotts.....run things ...independence?? not in a million years....UK would be bank rupt......he talks the talk .....he his replica saville row suit bought from the Glasgow market.. that doesn't fit him properly....but cant walk ....
Absolutely disgraceful...
I can handle losing £50.00p....
Kind regards
L
Started: dessmith19, 30 Oct 2019 19:21
Last post: dessmith19, 30 Oct 2019 19:21
Why is it in the best interest of shareholders for Cabot to leave Aim and change to a private company. Where is my money gone. I really do not understand why it is the in "best interest of shareholders" when they have lost their money.
Last post: Brocal53, 29 Oct 2019 14:23
Wish you guys all the best. Was a much better company under Keith Bush --really good guy. To think this was nearly 200p some years ago--I lost money but got out last year!
Started: London74, 29 Oct 2019 09:15
Last post: Investoroilgas, 29 Oct 2019 10:21
I have learned a lesson here....good luck to all CAB PI's.
best of luck and the BoD 1000x the Karma.
What a bunch of incompetent, criminal bandits.
Every fan AIM BoD are lying incompetent ****s hope the get screwed over one day. Bloody thieves don't give an f about small investors.
Bargain takeover of the remainder for hpp, screws everyone else and no way to stop it.
Worse Halloween fright
Last post: Investoroilgas, 25 Oct 2019 17:51
The Open Offer has not be issued this month, I wonder whether the Summer Work Programme has boosted production / revenue? I remain hopeful....
GLA
The US $7.0 million loan equates to c. GBP 5.67 million, so the Specialist Lender is providing a loan of nearly 3x Cabot Energy's current market capitalisation (GBP 2 million). The oil is in the ground, the planned programmes should ramp oil production up in the coming months.
GLA.
Scott Aitken, Chief Executive Officer, commented: "Our focus in the first half of 2019 was to source short- and long-term finance to rebuild the Company's balance sheet from the cost overruns in 2017 and the first half of 2018 and to fund our strategy for growth. We were able to maintain production costs at approximately US$20/bbl through rigorous cost controls despite being unable to invest in non-safety critical activity to arrest the natural production decline. This cost control, alongside short-term funding from H2P and the return of the Edmonton oil price towards its historic price differential with West Texas Intermediate, gave the Company time to secure longer term debt funding, announced on 2 September 2019.
"With a term sheet for asset level funding in place, we have initiated a Summer Work Programme of up to ten well workovers and stimulations, planned to be followed by a Winter Work Programme of drilling up to four new horizontal development wells, totalling a minimum US$7.0 million investment". Source: RNS 30 September 2019
Maybe, just maybe, the "Summer work programme" marks the start of a Cabot Energy turnaround. As I understand it, the private energy lender has set conditions regarding production levels before it will release the C$5 million loan for the "Winter Work Programme".
I plan to participate in next month's Open Offer, average down and then hopefully sell out on future SP rises.
GLA
Like many AIM shares. They start here to ensure directors remuneration and if they and us are lucky, it becomes a prosperous company ... but mostly not ;o))))
Started: M0neyMan, 29 Sep 2019 11:32
Last post: M0neyMan, 29 Sep 2019 11:32
But im not complaining. Looking forward what Cabot can do
Started: Trde, 8 Sep 2019 23:26
Last post: Investoroilgas, 11 Sep 2019 10:55
High Power Petroleum as the largest CAB shareholder (72.21% of the issued shares) have to keep propping Cabot Energy up, they have the most to lose.
It will be interesting to see whether the other large shareholders take up their allocation in October's Open Offer, my reading of last week's RNS is High Power Petroleum are prepared to invest the capital required to complete the Summer work plan. Once the remediation work is completed, oil production should rise & then the Canadian $5 million loan should be released to undertake the Winter drilling campaign.
The Italian Government will have to decide what to do about offshore oil exploration in 2020, for now Cabot Energy's future lies in the Canadian oil wells.
GLA
Converting the figures in my previous post to Gross British Pounds :-
US$48.3 million = circa GBP 39.12 million
C$5.0 million = circa GBP 3.1 million
Annual Reserves and Resources Report - 6 November 2018
https://polaris.brighterir.com/public/cabot_energy/news/rns/story/ryqm18w
"The net present value (before tax) using a 10% discount rate, of the 2P reserves is US$48.3 million to the company" RNS 6 Nov 2018.
The private energy lender which is providing the non recourse, asset loan (C$5 million) to fund the winter programme, has clearly done its Due Diligence on Cabot Energy.
Sounds great Trde .... shame is we now need 32% to recover todays 25% drop and with many AIM shares, that can take ages just to be back to square one from this morning.
GROWING PRODUCTION
150,000 barrels of oil produce in 2017411 boepd average production in 2017
STRENGTHENING ECONOMICS
26% increase in gross reserves and 339% increase in net resources over prior yearEfficient allocation of capital resources to fulfill the Company’s growth plans
Major shareholders
NameHigh Power Petroleum LLCShares33,103,569per cent of issued
72.21%
NameD Maritime LimitedShares1,695,314per cent of issued
3.70%
NameCavendish Asset Management LimitedShares1,521,037per cent of issued
3.32%
NameNortheastern Oilfield Services LimitedShares1,448,687per cent of issued
3.16%
The test of Cobalt’s business model is taking place today at the frontiers of oil exploration.
In the 2007 and 2008 U.S. Gulf of Mexico lease sales, Cobalt captured a substantial and highly prospective acreage position, locking up a 10-year controlling position in high potential deepwater, sub-salt exploration plays in the ‘heart’ of the U.S. Gulf of Mexico’s deepwater Miocene and inboard Lower Tertiary trends. Cobalt has spent more than $600 million to build this portfolio of opportunity. In only three years Cobalt established itself as major player in the deepwater U.S. Gulf of Mexico.
Cobalt is also an early entrant in offshore West Africa’s highly potential and enormous pre-salt opportunity through the focused capture of a significant acreage position in Gabon and Angola. Offshore West Africa is an area where Cobalt team members have vast experience in hydrocarbon exploration, development and production.
Started: topsharepicks, 6 Sep 2019 16:29
Last post: Investoroilgas, 6 Sep 2019 18:24
I'm pleased to see this move up so quickly. Open Offer @ 3p per share in October 2019 plus the agreed new loan should fund Summer & Winter drilling programmes which in turn should give a much needed lift in oil production.
GLA
its not big sell 5p 80k just gone through
£2.5k 5.5p no problem but this looks scary funding wise
Started: Adrianuk, 24 Aug 2019 14:52
Last post: Pineapple288, 6 Sep 2019 16:24
Looking at the price chart from 1996 wtf has this really gone from £370 to 5p????
175,700 buy @ 5.0p just gone through, they obviously like the news released this morning.
The unanswered question is who bought Garraway Capital Management's 9.07% shareholding last month? If it's a Market Maker, will they buy into the Open Offer??
Onwards and upwards....
GLA
Brilliant news! Fully funded for summer and winter work overs. Four new wells to be drilled. Big upside from here.
That is the key question, can Scott Aitken deliver a funding deal? If he can't, we are looking at another Open Offer at presumably a discount to the current share price.
Come on Scott, get that funding sorted, let's get back to full well production, 10 new wells due to be drilled next year. Great prospects in Italy. Looking very good.
72% now interesting
Last post: Investoroilgas, 15 Aug 2019 21:15
Today's RNS confirms what was thought, Garraway was the large seller. Garraway have sold their entire 9.07% Cabot Energy shareholding. The key question is, who has purchased those Cab shares?
H2P's shareholding does not appear to have increased from 66.22%, and the holdings of the "other large shareholders" does not appear to have increased.
Garraway Capital Management (formerly City Financial Investment) must have been the large seller yesterday.....it looks as though they sold the majority of their holdings, very strange given they bought into the March 2019 Open Offer at 10p per share.
One of CAB's largest shareholders have sold 3,420,728 shares @ 5.00p today, RNS should be issued informing the name of the seller...… H2P has confirmed that they are prepared to invest in new equity plus provide funds for 2019 drilling campaign.
Can’t beat loosing a third of your company value in a days trading. Will take some weeks to recover, if ever