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Thank you for taking the time with a very informative post, i will spend more time catching up in here when things calm down at 'African copper' ! It's typical, i was getting bored watching acu so came over here to investigate 'thats when i came across and posted todays pr' and in the 5 minutes i was here everything went mad over there!!! Anyway Thanks again and good luck.
LOL was in mid post when you beat me to it. ONSL owns most of the Oilexco assets... i'm not sure on the licences or the explore ships they charterd. These agreements may be in the parent company holdings. not sure yet. By the price, looks like all shareholders (ONSL) agreed to the purchase as I think it was being bought for 405 if they couldnt agree. OIL cannot finalise financials until this purchase is complete. However, once through my guess is a release in the suspension wont be far behind. Watch the share price on the TSX as a guide. I am sure we will see a climb in share price and volume the closer we get to a release on the LSE. Share price wise, that will depend on what they retain in the parent company. If they have licences then they are laughing.
LONDON (Dow Jones)--Oil and gas company Premier Oil PLC (PMO.LN) Tuesday said its $505 million acquisition of Oilexco North Sea Ltd., or ONSL, is on track to be completed before the end of May, and that the company is delivering strong production. This will at least allow OILexco to finish their financials and get on with business with a new direction. You may be right Chilob about the 25th.
Just came across this so thought i'd post it here for you guys/girls http://uk.biz.yahoo.com/19052009/325/premier-oil-sees-oilexco-buy-complete-end.html PaulinSA you seem to be the most clued up on here as to whats going on, and would appreciate your views on this announcment, i bought a small amount of shares at around 10p ages, infact it was one of my first share purcases. I will do my dmor when i can pull myself away from copper! just wonderd if you could give me a brief on this deal and the outcome for share holders, Thanks.
No worries. Looks like it's a BH in Canada so we will have to see what happens over this week. If the 25th is a key date we should see well in advance with TSX share price and volume. Right now it's pretty stable and roughly 600k per day. If that rockets then we will know for sure. A BH is not a bad day to come out of suspension... adds to the spice of it all : )
Bank holiday in England markets closed
Thanks for keeping us informed what is going on, it is realy appreciated !!
Hi all, it seems the there is a general sense of opinion that Oilexco will be back on the 25th May, (lets hope so). This would make sense as it will coincide with the Premier Oil deal. With a bit of luck this price should start moving up.
"fungible" lol.... i must look up what that means.... sounds like something that grows on a damp log! No worries on the posts, i think when released these guys will at least pick up where they left off on the 1st of May. The TSX trades seem optimistic when, lets face it, share holders know that time is running out to release q4 results. Glad you got something to post on here from OIL.
This is the response I got from Oilexco: I do not know when Oilexco's stock will be re-listed on the LSE. Oilexco's shares continue to trade on the TSX Venture Exchange in Canada, and the shares are fully fungible between the UK and Canada. Kind regards, Rob Elgie Oilexco Inc.
Thanks for the regular updates, like you i am optimistic about this stock.
Last: Change: Volume: 12:35 PM ET 0.105 0.000 (0.00%) 164,879 May 12, 2009 Holding the increase from friday and reasonable volumes for a "dead share"
huh?
Last: Change: Volume: 3:59 PM ET 0.105 +0.005 (5.00%) 673,315 May 08, 2009 not bad rise and volume
12p is still, IMO, not a bad price. Yes it could have been better but if we all had crystal balls, we'd walk funny (lol). I figured it would head south to around 6p and when we had that spread of like 5.5 - 7.5 i waited for it to reduce which it did. The need to rush into a share has cost me too many times before so now I wait. Keep an eye on the TSX, right now that's the only real info we will get on a daily basis. If that starts heading north fast then I'm guessing we would be close to some news.
sp is about 5.6 pence then, on a par with when it was suspended. This has to be a long hold for me since I freeking bought this at 12 pence, got really tucked up by the MM's that day.
Hi nice to hear from you... i see you are into SEY too : ) and can speak a few words in Turkish at least... Bomba! I'm pleased I called it right with PCI by the way, i said it would drop and it did. I think thats a share to watch by the way but get in at the right level. It is 10c Canadian. I've not woken up enough yet to check the Sterling to CD exchange rate. Yes they are still active on the TSX, they aren't on the LSE because they ran out of time to produce the financials, despite a 1 month grace period. As for when will they trade on the LSE again, well the clock will be ticking to produce the financials for the TSX, but i'm not sure when thats due right now. My guess is the suspension will be lifted closer to the TSX deadline. For now, watch the TSX daily share price. That will guide where this one will go once the LSE is back on line.
OK see the link and the oil sp price , is that 10 cents and approx 1 mill shares traded. So they are still active on that stock exchange , do you have any idea when they will be resuming trading on aim ?
http://cxa.marketwatch.com/tsx/en/market/quote.aspx?symbol=oil here's the link to the TSX. Note that there are trades yesterday.... also note the 52 week low compared to current price.
nothing like reading everything in a notice (thats a week old) but note THIS: "Oilexco's shares continue to trade on the TSX Venture Exchange in Canada and are fully fungible in both markets." They are only suspended on the LSE due to restructuring finances and posting q4 results....
Doesnt anyone one read more than the first 5 msgs?? Note the posts i placed Sunday. So the story is far from being at an end....
oilexco just emailed me 10 minutes ago, no new news but if you go on their website you can request 2 weekly updates.
The 2061500 unallocated securities(shares) are the stock options currently available to the oilexco employees under the July 2007 Stock option plan. It equates to under just under 10% of the shares in circulation.
Hi, could you possibly describe of what that means or alternatively post the link. Kind regards.
2061500 in unallocated securities