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Forget it - unfortunately this will de-list soon and we'll never hear of it again IMO
As far as I can see, CAZA have a clear run for 5 years, provided that they can pay the annual interest on the loan . There are just a couple of things . First the price of oil v/v their break even point. Second, they need to get drilling more productive wells, to increase cash flow (and in that they have pretty well and proven oil in the ground territory). Thirdly. Some luck !
This is JP Morgan 'buying' the company for $15m - banking the assets for the future when the oil price rises - just my guess...
Was wondering that myself - However, unfortunately, it is dead for pi holders. This is set for de-listing from Aim soon, shareholders may not get bought out @ 0.32p when delisted or thereafter,and although the company judging by today's financing is going to continue, it is without value to anyone except the 9.4billion shareholder who own 97.16% of the company. IMO
It seems perhaps not?
I wouldn't say, PJ, that (FOGL) are asset rich at the moment. They are nothing without their backers, who will probably pull out altogether in the near future if the price of oil continues to drop and there is every indication that it will ! Rest of the Falkliands oil is also at risk, deep sea hostile waters at the bottom end of the globe and horrendous development costs
I wouldn't say, PJ, that (FOGL) are asset rich at the moment. They are nothing without their backers, who will probably pull out altogether in the near future if the price of oil continues to drop and there is every indication that it will ! Rest of the Falkliands oil is also at risk, deep sea hostile waters at the bottom end of the globe and horrendous development costs
I believe the forbearance is only until the end of this month so I am wondering if we get an RNS on Friday
apart from o&g, target for 2016 would be debt free commodities such as WRES, JLP, SBLM, XTR, these are producing in 2016 and generating revenue soon.
PANR, FOG and SOU to name but three.
i think caza needs a deeper explanation, beyond YA.
Seen what ya has done for caza...going the same way as cazd ..
Please would you be kind enough to state all the zero debt companies you allude too?? Thank you in advance.
ever took place
Should have got out earlier, lesson learnt. Biggest dilution I know. Thank god was in Pantheon at 16p to offset the loss and is one if the few companies in N America I will touch at present time (MAGP only other one been tempted by). Even well respected commentators got this wrong. If you're even tempted steer well clear is my opinion you've been warned. I will speculate but majority of my oil stocks are in companies with zero debt, and skin in the game. For those still in I wish you all the best.
We can make some profit today and leave CAZA again... YA Global will destroy the company...
Surely one of, if not the, greatest dilutions in history with the issue of 9.467 Billion more shares ! --------------------------------- gorgeousgeorge - we're all in the same stupid 'sunk' boat here, thanks for sharing your thoughts.
Yes, I think you have it there, for the PI stocks are almost dead, with just few lucky breaks here and there. We are up against massive computers which sample movements within a mili second of them happening, almost share by share, and they do it all day and over two thousand, or more, different stocks. They can buy or sell on fractions of a penny rises or falls.I still believe that you are right about OIP though, the oil is there and has been proven to be so. This company made some fairly rash decisions based upon an oil price that most could see would have to fall with the advent of Shale. But, they have the pipes in the ground and the pumps on the surface and gas and oil....As you lament, it needs and oil company to come in, not a financial company - the latter's interest would probably be to break up CAZA and sell its parts off
I dont think there is one single cause to blame for this other than supply and demand. Sure Saudi wanted shale to fail, but it will be hurting them too with the oil price likely to be depressed for the next five years and a lot can and will happen with alternative energy, which may also impact. Things are changing fast. Suddenly investment in oil against alternative energy is much closer to a level playing field. Why else would not a single one of the other giants in the neighbourhood bid for Caza at 45 million dollars, a fraction of the apparent value in the ground. Thats me done with shares. How they fiddle the footse to look like its at 6,000 is incredible. No longer can the stock market be compared favourably to property. There is no comparison. It had its day in the eighties and nineties. It may come back but at the moment it has more in common with the antique industry and I wouldn't bet on either coming good again.
I sold out at 2.15 a few months back at a near 50% loss and it hurt. Now it looks like one of my best trades of the year. Sorry to all of those that are still holding. For what its worth Pantheon still has potential for significant upside if you can stomach more Texas oil! Good luck all.
Yep, going to delist from Aim soon after Dec 23. IMO there won't be much of a 'rally' (lol) and I think I'll wait until they give me my £26, then I won't need to pay dealing costs.
If they decide to take every one within 6 months we all get.....0.32p per share - oh, wow, my £26 is safe. After 6 months, we revalue before paying us off - maybe £30 for me !
Not bust just totally diluted to blithering. New shares issued @ 0.32p, so I suppose that's the marker. Apollo and Yorkville very happy to get their money back - PI's basically shafted although I suppose everyone can/will blame the oil price.
I think the key points here is that they are not bust, placing shares haven't gone to shorters/flippers and there are only 244m shares for the market to play with cos the new shares are locked in for 4 months.
The company will issue 9.47 billion shares to Talara, raising USD45.5 billion for Caza, which it will then use to repay and restructure its debts to Apollo Investment Corp, YA Global Master SPV Ltd and GSC SICAV