Member Info for Bazzaman

Moreover, having paid off its net debt and accrued interest of $8m, Global Energy now has net cash of $42m, or £26.7m at current exchange rates. To put this sum into perspective, the company has a market value of just £16m based on 36.1m shares in issue. Or put it another way, net funds now account for 74p per share, or 68 per cent more than the current share price. This means that we are getting a free ride on the company’s development programme, albeit the slump in the oil price means that hitting pay dirt in the current environment is less likely to be fully recognised by investors who can cherry pick bargains amongst the debris of the oil sector sell-off. That said, the funding costs of the ongoing drilling programme are being met by partner Everest Hill Energy following a farm-out agreement earlier this year whereby Global Energy retains a 50 per cent interest in its Bolivar license area, located in the Middle Magdalena valley in Colombia, and has a fully carried interest on three wells. The portfolio contains 32.2m barrels (1P-proved), 55m barrels (2P-proved and probable), and 184m barrels (3P- proved, probable and possible) and importantly Everest is fronting drilling costs of $24m (£15m) which mitigates risk for investors holding Global Energy’s shares. Investors are also getting all of Global Energy’s Bocachico properties, in Middle Magdalena, held with partner Ecopetrol, in the price for free too. These contain 11m barrels (1P-proved), and 40.4m barrels (2P-proved and probable). Clearly, these Columbian assets have some value, but even if we ignore them completely, then Global Energy’s shares shouldn’t be trading 40 per cent below net cash on the balance sheet. It’s a crazy valuation in my view. It’s worth noting too that we can expect Global Energy in due course to make a further announcement with regards to the use of the cash proceeds from the aforementioned asset sale following the completion of the Llanos transaction. An earnings enhancing share buy-back programme would not go amiss given that 86 per cent of the company's issued share capital is controlled by the top nine shareholders, so it wouldn’t take much buying to propel the share price upwards and reward Global Energy's loyal shareholders with a much fairer valuation for their equity holdings.

Full year results not due until 3rd March 2015, may get something mid Jan?

Yep

Inland Homes was notified on 16 December 2014 that Mr Mark Dixon holds 20,000,000 ordinary shares of 10 pence in Inland Homes, representing approximately 9.86% of its issued share capital.

Agree the next few weeks should prove interesting for BOOM

With BOOM I'm expecting strong announcements over the next few weeks which should shape my thinking. This could really take off. I also don't day trade like ICE does. I'm normally in for a few months at a time depending on the stocks, some of them for much longer 2 years plus. I like TW & will hold for the dividend, I'll top up if it falls below 125 between now & when the dividend goes ex. You really should DYOR though, it helps when you see other opportunities emerging. I'm staying long in both INL & CIC & I'm thinking of topping up in TRI ahead of their results in the NY. Good luck.

Take a look at BOOM, a highly speculative buy IMO but I like one of these in my portfolio to add some spice. The board is well represented every day with interesting comments & this could be an interesting opportunity. I topped up earlier this week.

I don't have TEF. I'm looking at PAG to get to 440 by end of March then I'll take a view.

The MIDAS article was in the Mail on Sunday on 10th May, seemed like a few months ago but was actually 7 months ago. At that time CIC was 167.5.

MIDAS a few months back also tipped CIC and said the next 3 years will be well rewarded. Worth checking out their article as well.

IMO yes I do although dividend is weak. I'm happy to be in both of them alongside INL & PAG. I sold SBD at 65% profit to fund these top ups. If the SBD takeover fails I'll get back in there as well.

This should be massive over the next 12/24 months

Yesterday's big share buy was purchase of own shares

Keeps buying own shares, great position like it.

again this afternoon, couldn't resist the low price.

Interesting trade earlier today ahead of the article; 11-Dec-14 11:27:04 1,428,095 Buy* 183.0 £2.613M

Conygar has been one of the last real estate companies to embrace the renaissance in property values. True, it operates in one of the less vibrant parts of the country, which helps explain the 20 per cent discount to forecast book value. However, given the unrealised potential locked up in the development pipeline and the recovery moving to the regions, the lowly rating looks unjustified. Buy.

Great article in tomorrow's IC - The property boom in London and the south-east is finally starting to percolate out into the provinces and for Conygar (CIC), which has the bulk of its property in Wales, that's great news. Net asset value in the year to September increased by more than 13 per cent to 197.5p as the property developer started to crystallise some of the gains within its portfolio. As well as its rental portfolio, Conygar specialises in bringing land through the planning process and selling off parcels to retailers and housebuilders. And this is where hidden value can be found. Take the 93-acre site at Haverfordwest, for example. It is valued in the books at £17.2m. But in May just under 10 acres were sold to J Sainsbury for £13.75m, which represented more than five times book value. And once highway and infrastructure work is complete, at a cost of £7.8m, Conygar will start to market the residential land, which already has planning consent to build 729 houses. Another key development that is progressing well is on Holyhead waterfront. Planning consent here has been secured, although an application for a village green could reduce the area for development. But potentially, the mixed-use development is big enough for 326 waterfront apartments and town houses, a 500-berth marina and 50,000 sq ft of retail, leisure and commercial space. All this is valued on the books at less than £10m. Also in Holyhead, the company entered a £6m joint venture to develop and operate a nine-acre, 200-space truck-stop facility, which is expected to open next year. This is important because Holyhead is the key embarkation point for lorries travelling to Ireland, and a bespoke facility with sleeping and eating areas is likely to pull in more business. There are also plans to introduce logistics and distribution warehousing facilities on adjacent land, which are not part of the joint venture, and for which planning consent has already been obtained. Book value is just £3m. Meanwhile at Fishguard waterfront, outline planning consent has been issued for a 450-berth marina, 253 residential apartments and other tourist-related space. This is on the books valued at just over £1m. The total development land bank is currently valued at £37m, but analysts at Liberum reckon there is a potential 44 per cent net asset value (NAV) upside from the development pipeline; equivalent NAV upside of 87p a share. The contracted rent roll in the year to September fell by £2.2m to £12.2m, but this was mainly due to disposals that fetched £25.7m and made a £1.6m profit. Portfolio vacancies rose from 16.7 per cent to 18.2 per cent, although several negotiations are currently in place, which are expected to reduce this in the coming months. Group finances remain in good shape. Including £29.3m raised through the issue of 30m zero-dividend preference shares in January, gearing stands at just 9.2 p

Today but will recover inwards. Needs to break through 60p.

Tipped again by IC at 12.00pm lots of buyers since, also ex-div on 11th. brokers have raised target price from 70p to 80p.