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over $200 million with 50 million earmarked to buy shares, we have now reached the cash equiveleant with the Sp around £2 , the multi millions of oil and gas assets not even priced in yet, lol, and a huge chunk of oil and gas hedged at good prices for the next few months and into 2021, its no wonder they are going to throw bucket pads of cash at this Sp
GLA enjoy the free ride upwards, imo
Market cap $205m.
Odd one
@opulentia I agree! I think by Monday/Tuesday this will become the next target for PI's.
The Brokers will be in a rush to grab as many cheap shares as possible before the market realises the potential here ,
GLA
This is flying up like a rocket! Good to get in before the £50M buy back.
of buys has pushed this up to 190p or 25% increase, what will happen when the 50 Million buyback start to take effect!!!!!!!
GLA This is going places in the next few weeks, early birds and all that
for a couple of grand this morning , after reading the report and the buyback will certainly lift the Sp over the next few weeks and months, the Company looks in fairly good shape with quite a substantial amount of oil Hedged if/when a recovery on oil price returns later in the year I can see this easily going northwards of £5 per share
GLA
I too have found my way here.
The discount looks so big that it looks like valuation is less than it hold in cash.
My first post here any help & comments would be very helpful I thinking of a purchase of RSE
time to buy when all is very gloomy so they say & it certainly is notice directors last buying £13ish !!many thanks in advance
Unfortunately Hammerhead is the real drag on RSE, being unquoted and under operational curtailment from Canadian government suggests no positive news flow likely in the near future. Just hope that RSE have a fair view of current valuation, otherwise another problem if its in the books at too high a price. CDEV likely to pick up if oil price picks up. Having said that, I have decided to buy a few today, and will take a long term view as I think that oil will recover over next year.
Last buy here at 396 today. Down on position, but don’t need much of a rise from this level to make it worthwhile.
Small buy order in for 538 but not triggered yet! It only went below 540 at 4.29.....maybe tomoz.
Looks like you got your wish.....
Dropping like a stone, but I picked some up at 598. Will buy more if it hits 538.
Like good value. Presume results will be announced this week. Have bought in. NAV well above share price and oil prices have increased quite a bit since that valuation.
Riverstone Energy Limited - Tender Offer
What is happening?
The Company has announced proposals for a Tender Offer to purchase up to £55 million in value of the issued Share Capital.
Riverstone Energy Limited Shareholders may elect to tender some or all of their Shares for repurchase by the Company, at a ‘Purchase Price’ to be determined. The Purchase Price will be the highest tender price per Share at which valid tenders are received in respect of an aggregate purchase price of up to £55 million. The Tender Offer is designed so that the Company pays the lowest price at which Shareholders are prepared to tender their Shares.
The Company is inviting Shareholders to tender (i.e. sell) some or all of their Shares at a minimum price which is not less than £12.00 or greater than £13.75 (in increments of 25p, e.g. £12.25, £12.50, £12.75 etc.). Shareholders can elect to tender Shares for sale at different prices or at the Purchase Price but all Shares successfully tendered will be purchased at the Purchase Price.
-- Is this a good or bad thing?
I wont be selling as I am at about break even at these levels
The price of the stock has not moved very much in sympathy with the oil price. I know the valuations of the investments often take in to account the forward price of oil, which is in backwardation to todays prompt prices, but I am struggling to understand why the stock price of RSE has not risen significantly recently. Is this a massive bargain, or am I missing something?
Yes
As a matter of interest has anyone else got any RSE
more big trades here today...........
coming in , share price may rise at end of day today , read on fte share board of rse , to me looks to have potential