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il do some digging let you know tbis week asap
MKumar - Date TBC
https://www.londonstockexchange.com/live-markets/new-issues?lang=en
Thxs Duster
Is it confirmed as 24th NOV as listing date for Kilrose??
A no idea how are we supposed to know that read the admission document
B Around a pound 24th of Nov.
C Only Insties no primary bid or the like. You will have to buy on listing day like the rest of us.
On the back of Mr AAustin and RR success in the past, it seems everyone here is agreed upon the likely excellent potential after the Kilrose listing . 4 Questions now remain as below , which perhaps can be reasonably answered by experienced folks here.
a. Acquistion's will happen soon after listing or months after?
b . When is the likely listing and What price at listing ?
c. Will PIs have opportunity to buy at listing or only Instos? if so than buying via a broker or
primary bid ? I guess people who brought in at the RR listing should be able to answer about the
possibilities on this.
Cheers
MK
My post highlighted the fact to the contrary that a deal did not take over a year fyi as some posts on here suggest.
Rockrose IPO was in Jan 2016 and they suspended in Sept 2016 following announcement of proposed acquisition of the Maerk assets for £14.5 million (interests in Wytch Farm, Scott, Telford fields).
They relisted in July 2017, and during the 11 months they were suspended they also made other small acquisitions (interests in two NS fields from Egerton for £1million, Sojitz Energy for £1.9 million). They also raised £8 million at 150p, and came back to market at 150p in July 2017, with 1400bopd.
It just goes to show – if you were in RRE early enough, then you didn’t need to see the big later deals (e.g. marathon) to see seriously good returns.
Don’t get me wrong, I am as excited as anybody about a Rockrose mark II company (I made good money with rre this year), but I don’t like the nonsense being spouted about them listing and suspending straight away. It’s way more likely (imo), that it’s going to take them some months to sort out the first deal (just like last time - and remember that in 2016 we weren’t in the middle of a pandemic). So - a mad rush for Kistos shares on the first day may suit rampers looking to make a quick buck, however you have to consider what will happen to the share price if they first deal takes some months to sort out. Lots of small time pis don’t have the stomach or the patience to wait weeks for something to happen, let alone months, so I’d be slightly wary of any hysteria across the first few days/weeks
Just my twopenneth, (so don’t blame me if AA announces an ‘oven ready’ deal with exxon sometime during the first week of December ?? )
RRE. completed there first deal soon after listing see article below fyi
AA must have plenty of targets in mind no other reason to form the company
Sure will be interesting when it lists
"Not sure when Kistos will list ? didn’t RRE suspend on the first day for several months before the likes of us could get our hands on any shares?"
Oilman - Rockrose were listed for best part of a year at 50p following ipo, before suspending when they announced first deal. They were suspended for 11 months and came back relisted at 150p.
Be happy to get a few either way not fussed on suspension RTO
Or even Egdon given boards connections !
Wonder if Deltec and IOG are first on the menue
My guess is they will do a deal directly following listing, so yes, will go straight into suspension. Also another problem is newly listed companies usually take 'time' to be shown on various platforms and as such PI's, unless you go direct via your broker, will not get a sniff. AA is also aware that Kistos will be a firm favorite with both PI's and more importantly investment houses, he will use that to his advantage so PI's will need to be cautious imo.
Listing has been quoted as late November.
Oilman I think it's around the 24th il ask and Get back to you, i know a contact at Panmure..
I’ve a lump in LBE and an even bigger lump in BP.
Made a few quid on RRE. Do i go in full throttle here? I believe AA has unfinished business especially in the southern sector / dutch sector which is where he has his eye on several targets before he took his £85m. Fair play though. I’ve got £100k combined in the shares above, i’ll love to put the lot into this latest venture on the hope lightning is gonna strike twice.
Not sure when Kistos will list ? didn’t RRE suspend on the first day for several months before the likes of us could get our hands on any shares?
Not much brain power required to work out where Kistos is going imho
The requirements are you need to start off on AIM if you are unable to meet the criteria of main listing, in this case Kistos are unable to do so being a newly formed company without history of accounts being one. That said, I believe any reverse takeover of a listed company would automatically mean Kistos gain main market listing by default.
Alan was also involved in Salamader Energy who was sold to Ophir ....hummm he was also involved in the sale of Encore Oil and Gas .... think you are starting to get the idea for shareholders involved esp in Encore ....
New: Wonder what the reasoning is for listing on AIM whereas RRE was listed on main market.
As most of us know AIM tends to be like a casino!!!
"Mr Austin has also brought industry veteran Alan Booth on board as senior independent non-executive director...."
So AA has gone for Alan Booth too ..... I remember him well from the Ophir days .... one to watch as he's not adverse to doing deals either although some would say not in the best interest of shareholders.
Guys Read on below article which some of you may have read.
Oilman thank you for the link
Can i know from LTHs here more about Andrew austin and who on here are likely to get in KISTOS
- any insights of past experiences and possible future take on Kistos on energy sector would be really helpful
Thank you
MK
From Energy Voice dated 11/11/20
Andrew Austin is making his North Sea return with a new investment company, aimed at buying up UK assets, after selling RockRose Energy.
Mr Austin personally owned an eye-watering 27% of shares in RockRose when he and the board decided to sell up to Viaro Energy in July for £247.5million.
After a brief hiatus, he’s now back with a new vehicle “Kistos”, which aims to “acquire assets with a role in energy transition”, mainly focussed in the UK and Continental Europe.
His former company proudly stated “a Rockrose is a plant that grows in harsh environments with minimal external support” – Kistos is Greek for the RockRose family of flowering plants.
In submission documents to the Alternative Investment Market (AIM), Kistos said it would “focus on the hydrocarbon sector (including upstream and downstream opportunities), energy infrastructure and energy assets capable of repurposing in the context of Energy Transition and ‘Net Zero 2050’”.
It added that these will have “an enterprise value of £20-£100 million”.
It comes amid a focus on the UK North Sea going net zero by 2050, a goal enshrined in law in the UK and now part of the Oil and Gas Authority’s regulatory regime.
Andrew Austin is non-executive chairman of the London-registered firm with a 70.5% stake prior to admission to the AIM.
Also on board is fellow RockRose and IGas alums Richard Benmore and Julie Barlow as non-exec directors.
Mr Austin has also brought industry veteran Alan Booth on board as senior independent non-executive director.
Kistos said it believes its investing policy can be achieved within 18 months of admission.
Announcing the sale of RockRose in July, Mr Austin said it has been an “exciting journey” in the five years since founding the business which had gone on a major growth spree.
In May 2018, the firm acquired a package of assets in the Netherlands for €107 million, which was followed the next year by the acquisition of Marathon Oil’s UK business.
This gave RockRose its first UK operatorship in the Brae Area, however a legal dispute led to the assets being forcibly taken over by Taqa after the Brae partners raised concern over RockRose’s ability to bring down the field’s $1.8bn decommissioning costs.
Taqa management, who lost out of Marathon acquisition to RockRose, called them “total wideboys” in emails disclosed in court documents.
Despite its success, the firm did lose out on at least one acquisition target – southern North Sea focussed Independent Oil and Gas in 2019.
Prior to RockRose, Mr Austin was a founder and former CEO of IGas Energy.
He also has six years
https://www.londonstockexchange.com/live-markets/new-issues?lang=en
https://kistosplc.com/
https://profile.lsegissuerservices.com/upcoming-issues/Kistos
Yes nkotb
Looks like it's market cap will 2 bag on listing be around 120 mill in short time imho
Get in quick think it lists on the 24th fingers on the buy button