focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Oh...and, I was 'looking forward' to this year and next with more oil to pump and an increase in oil price. AA is a bottler.
MTsparky how have you worked out the enterprise value?
When he saw the share price drop in Feb, had to push back capex, and Covid was hitting, I think he panicked and want a deal...any deal. Then Saudi and Russia had a spat, and he folded. Bet he's rubbish at poker.
Has AA been "leaned on" shall we say, to accept this deal.
Good for you ! The best little company in the NS and sells for EV of about £10m. I think this deal could be politically motivated.
Sparky, I am voting against it even if it means a drop back in price short term. Dont care about decom costs blah blah blah. Assets are worth more.
No idea what is happening. Bemused by the whole thing...TR1s now. Some gargantuan O trades from yesterday just popped through. Maybe this isn't all done and dusted as AA would like
IAmNotAnAnalyst same here. Not selling yet. I want the maximum £18.50 from the robbing shytes. Offer price is so ridiculous anything could happen.
What price would Serica realistically go for given the RRE assets were basically valueless on this deal. Not moaning i made money and it’s AAs company he knows best but it does make you think twice when looking at other businesses, many in a weaker position than RRE
Looking at two or three shares will do some more reading tonight
Surely these shareholders would be happy to sell to the highest bidder?
Having started to read through the documents it does strike me what someone posted yesterday - Viaro are borrowing (from their parent) to buy RRE and will promptly pay back the loan with the cash in RRE.
If I was in control of another cash rich company, or one where I could secure cheap debt, then I'd be looking to make an offer too. Like has been mentioned, cash to run the company aside, the value of the assets are quite low.
I'm sticking around with most of my holding for a few weeks at least to see if something happens. I can't see it falling through (never say never) but there is the potential for another offer.
I think that Serica SQZ has some mileage, if there is a corporate appetite for another RRE type deal.
I am also very keen on Touchstone TXP which has outstripped RRE 4X since January and is really beginning to motor with 2 gas finds and about to drill two more..
Good luck all, it has been an exciting ride but the ending was premature and a bit disappointing.
Good luck for the future.
Dana
Another RNS (3x today so far)
Nice easy £100k profit for BHF Asset Management ..... unless they are expecting it to go for more than 1850p ..... hummmm.
Taken position at 1831p and 1830p for 3.89% of the company yesterday shows the deal is sealed.
Thanks for PRD. Will take a look.
May be worth a look at COPL. Can read up about it as most of the important information are quite recent events. Looks promising to me over next 12 months. A lot of news and events to take place in near future.
100% Agree. PRD is my next play.
Lovely little company with some serious potential. Its been steadily rising nicely for the past 3 months with a drill on the horizon.
Nothing else has stood out to me with so much upside but id welcome any suggestions?
I think all the AT's are Macquarie snapping up stock. They may have to pay over to cover their short? Thoughts?
still plenty of time for the yanks to screw up and brexit. Got about 2-3 months until 100% cash
If anyone knows where the POO is going, it's the Arabs .... they certainly have a bargain with RRE imo.
Lonestag, majority cash is my preferred option once SQZ comes in too. The Yanks are building for a rude awakening imo ....
Thanks for the ride guys and was worth more in my opinion. Profits into IRR for a Gold run. Adios
Yet another recommendation to buy another stock...for me...I’m staying cash...resurgence of Covid is still on the up and USA election to come later this year, what’s going on with Brexit? Lots of negatives..DYOR and GLA
Longboat ex faroe guys tbere deals are due soon some big backers Black rock ECT should mirror rre growth up to £5 by the same method RTO
I have bought quite a few PRD shares, it has all the hallmarks of success, great Mngt, zero Debt, 10 bites of the Cherry, a leader in CO2 sequestration, interests in Trinidad re EOR, Morocco gas fields and 2 Irish Licences for LNG production plus CO2 sequestration. This Co is going places. DYOR and GLA
Took the 0.8% hit on selling today. Placed half straight into SQZ, lovely. I'm sure a few people will be interested into where to place their money now and if O&G is your sector thats a very healthy company to look at,Imo.
Best of luck for those holding out for more.
IMO, its shares that have been acquired on behalf of Viaro by holding entities over at least the past 4 months or so being moved into Viaro ownership. Although if I'm wrong, as there does appear to be some urgency, things may get interesting. Of course, HNWI and alike would judge the chance of possibly making a few extra quid in a month or so with rival bidder against re-deploying their capital elsewhere too.
aimo
Is it not just big shareholders selling and moving on and the acquirer snapping them up on the open market?