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Once deal is completed I wonder what the trading will like. No doubt fogl will drop in the short term..... Any thoughts
we are sort of in limbo until des share holders receive there fogl shares.
my mistake fella its 0.6233 shares for each des share and not 0.6633,but not much difference.
The next drilling campaign is expected to be fully funded from existing cash, the Farm-Out and other previously completed farm-out agreements. Overview of the Combination · Under the terms of the Combination, Scheme Shareholders will be entitled to receive 0.6233 FOGL Consideration Shares for each Desire Share. · Following the Combination becoming effective, FOGL Shareholders will own 60 per cent. of the Combined Group's issued share capital, with Desire Shareholders owning the remaining 40 per cent
The combination values the entire issued share capital of Desire at approximately £61 million and each Desire share at 17.76 p . For each desire share = 0.6233 FOGL consideration Shares SIMPLES ,,,, Suspension of dealings in desire shares by 8 am on 5th December 2013 GLA
Just realised all previous 8.9% post a crock as due to huge amount of new FOGL shares given to DES holders, Fogl sp is bound to drop isn't it? DOH ! Had too much Stella to be doing complex thinking! Still, it does strengthen my point that that DES at 25p... ain't ever gonna happen! Off to have a drink of water to clear my head....oh hang on!... water, that's where it all went wrong for DES...that's it another Stella then and some telly! To sum up as Vinny said in that [blank] film, 'Its been emotional!' lol Night all and good luck all. FF66
If ratio below correct, desire holders get fogl shares and gain approx 8.9% in value at current prices! So, why would DES sp jump 49% to 25p come Monday? Think it could only happen if FOGL was to rocket and it's been pretty flat for long enough! Come close on Weds 4th Dec it's all over...so FOGL only have 2 weeks to shoot up and drag DES up any higher towards that 25p!!. Buying Des is a cheaper way to get Fogl shares, but at current sp paying anything over 18p is pointless! OOOH...Just thought, is there a cut off date to be eligible for the DES share swap for FOGL shares or is it right up to the wire? Anyone?
...can you tell me where you found that ratio for FOGL shares please? Thanks. Tried looking in various RNS' but can't find relevant info.
fogl and des have merged m8,so for every des share you have,it will be replaced by 0.6633 fogl shares.
hi wat is the deal with desire.
you should have been asked m8,i received mine in the post and sent it back,if the deal was agreed which it has been,if you hold your shares in certificate form,ur des will be replaced by fogl sometime early in dec if my memory serves me right.
i as a share holder was not ask to vote on this merger was any other share holder ask.
small rise on the sp am hopeful of on Monday? ATLEAST 25p
Falkland Oil & Gas (FOGL) is set to acquire Desire Petroleum for $99 million. Desire has interests in various blocks in the northern offshore Falkland basin. In the same area, Premier Oil and Rockhopper have agreed to farm into FOGL's PL004a and Pl004c licenses, both adjoining acreage containing the Premier-operated Sea Lion development. In exchange they will carry FOGL's share of costs for planned exploration wells on the Isobel/Elaine and Jayne East prospects. Noble Energy, which next year assumes operatorship of FOGL's southern area offshore licenses, is looking to drill two more wells in 2014-2015, and is in talks with other operators in the region concerning a rig share arrangement. http://www.offshore-mag.com/articles/print/volume-73/issue-11/departments/global-e-p/north-america.html
Desire Petroleum (AIM: DES) and Falkland Oil and Gas (AIM: FOGL) shareholders approved the merger of the two oil and gas firms on Friday (Nov 15). The stock-for-stock merger must now be approved by the UK courts and Falkland Islands authorities, according to statements by the juniors. FOGL shareholders will hold 60% of the shares in the new company and Desire shareholders the balance. Rockhopper Exploration (AIM: RKH) and Premier Oil (LSE: PMO) signed farm-in agreements with FOGL and Desire to increase their stake in licenses PL004a and PL004c in the North Falkland Basin, subject to completion of the merger, which is expected to take effect in December. The blocks are adjacent to the Sea Lion discovery and include the Isobel/Elaine and Jayne East prospects where Rockhopper and Premier plan two exploration wells.
On the FOGL board, 'fadilz' said: "Now more than ever if you want FOGL buy DES - it is still 5.5% cheaper."
http://www.iii.co.uk/articles/129439/fogl-and-desire-merger-given-go-ahead Merge been given go ahead... 5th December 2013....reckon the sp will rise a little on Monday then?
Fair enough, before December what do you reckon sp on DES will close at then? still gonna hang or you reckon we will see an increase for a few good xmas presents ? lol....if the sp hits 25p and we all invest our money it will be a nice xmas wouldnt you say?
RNS OUT!
whats going on here....whens des gonna merge then ?
Hopefully the new drilling campaign will underway by late 2014 , senior geophysicist required apply below !! http://www.fogl.com/fogl/dlibrary/panda/FOGL_SeniorGeophysicist_Nov2013.pdf
UK government dismisses threats over Falkands oil exploration http://tinyurl.com/ouw3t4a
i would think possibly the 3rd quarter of next year drilling may begin.
????
serves me right,des has drilled 5 well over the past 3 yrs or so and found nothing,now in effect we have another chance and been given a lifeline particularly those with high averages on here.