The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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But just like bankers no one will not be held to account naughty boy don't do it again whole market is corrupt not just aim fsa do f...all why would they to bloody busy mate to worry about a few pii's loosing ? a few bob. well my money is hard earned , I have said before any spare cash best under the bed so to speak don,t earn out but not going to loose it PII will never know what is going on inside a company a few might but not us bean counters can cook the figures legal teams skew the jargon hope they don't catch any thing deadly. I feel better already DOYR yea right.
I truly believe that the deal is more important to RKH than many seem to think. Having read the merger document again today I would particularly note that 5.2 refers to simplifying or avoiding the need for unitisation of the Sealion field. Imagine for a moment that the merger doesn't go through, that FOGL do not receive enough from the insurance claim(s) to cover their debt to Noble/Edison and FOGL's assets are used to pay down the debt. That would put a huge spanner in the works and potentially, allow NBL to bring a halt to the Sealion proceedings until a deal that they agree with can be reached. Do RKH want to be put in the position where they are forced to do a deal with NBL - I very much doubt it, look what's happened to FOGL!
I've been in since mid October after playing the swings in PMO (hindsight would say I should have continued!) Yep I completley agree pre Izzy would be a yes and post would be a no with a good outcome. And exactly it can't be forgotten that we do not have any cash!! I am a yes with either outcome but it must be seen as slightly positive the RKH are looking to tie up the deal now - when in theory (due to cash) 6 months could probably pick us up for a tuppence
No just don't find it interesting.
Good post eegbvi and pete...and I believe you are correct that the intitutional investors would have been consulted first and would have been a majority yes from that - no need to panic we are still above the brokers target price of 8p that was given a fortnight ago and I think there was slight self fulfilling prophecy in regards to that and we were always due to hit it....Fingers crossed everyone
How can it. ?? Its got assets. This is all the OPEC Meeting plus until 14 Dec we don't know if RKH can issue the shares. They will though as they would have already counted the votes in favour before agreeing the deal.
This is ridiculous, I'm an invester before the 24th Nov do I hold and feel relatively safe that my investement is going to buy RKH at nearly 3/1 or do I sell before Fogl hits zero, which I don't think it will but no one likes to see there investment decling every day !! And nothing from the board !!
'AIM Rule 11 requires notification without delay of any new developments which are not public knowledge which, if made public, would cause a significant movement in its share price. The Guidance Notes in part 2 of the AIM Rules make clear that this means information a reasonable investor would be likely to use as part of an investment decision'. This is a shocker - we all know there is loads of info that is being withheld from the market, well PI's. The net effect being we can't make an informed investment decision!
Whats interesting about it ? POO going to skyrocket ? And take FOGL with it ?
FOLlow the money....they got him in the end.
It's now trash. BoD should be in chains.
How can this continue to be withheld when the resources there are surely absolutely material to the potential merger?
of Rocky.
think the bod need to take a breather from being able to sit on a bod
i do not think fogl will go to zero folks, but the way the shareholders have been treated by bod is a disgrace.aim investing is getting worse, is it me or are more of these aim listed companys getting away with shocking treatment of its shareholders.some of the people running these companys should not be put in charge of a tuck shop let alone a listed company.ive put money into 4 aim listed companys and some of the things ive seen and the idiots running some of these companys is enough to put me off investing in any other aim company.folks be very carefull investing in aim in the future its a minefield in my opinion.there is a lot more value to be had in the blue chip stocks and you can get a good divi on top.good luck all and fingers crossed we get some info soon from the 'experts' sailing this ship
Think you need to take a breather
ants - only silver lining is the number of shares held by the BoD. At least they are losing something, but not enough. they have screwed this company in a huge way.
still at least they're all right jack
Eegbvi, in your opinion is this share likely to go to 0? If it does, would RKH be obliged to go forward with the merger nonetheless?
is going the same as BOR. walked down to ZERO value. the way all the FI operators hacve played this esp re withholding the results of the summer drilling of the two wells prior to humpy, is a disgrace. POO aside, there is zero value in holding this now other than typical human nature / stubbornness and not being willing to sell at such crazy prices. PIs will lose all. The two price monitoring extensions on the close today, despite the relatively vol volume of just 2.2m shares traded, suggests this really is going down the toilet. good old AIM strikes again. BoD do just fine at the expense of PIs. Classic. Love the regulation here. Heard nothing from the FCA, not even acknowledgement of my letter asking them to investigate the FOGL BoD. They all probably all too busy selling the ar£e out of FOGL shares to be fair.
At the present bid/offer difference re FOGL & RKH the small amount gained in shares is more than offset by dealing costs so as usual the market wins.
The odd thing here is RKH following FOGL down rather than the other way around. Must be FOGL holders selling out to buy RKH on the cheap.
Net asset value should read $349.78M, maybe it wasn't just me who got the decimal point in the wrong place.. löl http://www.lse.co.uk/share-fundamentals.asp?shareprice=FOGL&share=falkland_o&g
Didn't expect this to drop this much
As per below, so we have run through $104M with barely $5m left in cash if my math is correct.. The full year end 2014 showed $35M in cash. So they went through $74M between the interims and the YE. That must have been some seismic.. !! So the cash value of the company pre drilling was worth considerably more than the current take over price and that's without accrediting any value to net assets which they claimed in the YE report to be $349.78. This just doesn't add up !!! Highlights · Progress towards next drilling campaign scheduled to start in Q1 2015 - Major 3D seismic acquisition programme completed in February 2014 and interpretation continues - Eirik Raude deep-water rig contracted for the 2015 drilling campaign - Five well drilling programme targeting over 1.3 billion barrels of gross prospective resources - Interest of at least 40% in each licence ensures shareholders will have substantial equity exposure to these resources in the case of success - FOGL is the largest licence holder of the six oil companies operating in the Falkland Islands with a net interest of over 40,000 km2 · Strong Financial Position - Cash Balance of $109 million at period end - Funded to undertake 2015 drilling programme