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Another 15% of Butch up for sale now Tullow are exiting Norway - lets have another rights issue - not!!
As I suspected - no take up by Dana - or me !!
So another 6 million share's to raise circa £4.2 million at 70p - that's 2% off the share price and a rump to get rid of then
Little bit like the crumbs from the table with regard to shareholder participation in the DONG asset purchase. With additional 88 million shares now in play reflected in the 73p share price, I get the opportunity to purchase a further 1680 shares at the princely sum of 70p. POO volatility will probably bridge this gap, but 70p is now a very good baseline and a buying opportunity.
Be interesting to see if Dana was involved in the placing. 34 Million write down against its 18% shareholding, which is available for sale. Maybe they have more than enough and like the last time didn't assist. We will no doubt find out shortly
Timing is exquisite after two drill successes. Not to keen on my 100,000 shares being diluted, but its a bold move.
Having just offloaded Orlando, I could do a leap of faith and ruminate on FPM purchasing the Skerryvore 30% for the right price - that would give some synergy with PMG
That's both Brasse and Njord North Flank been given the green light. Its business as usual for FPM, whilst others sit on their hands during this prolonged downturn, they spin the drill. Admirable, and its time they lucked out. M & A must be tempting at the present time and it would certainly temper the markets reaction to another duster if coinciding - there are a number of tasty morsels that would cover the Njord shut in.
Was expecting news on Ntem being lost to company. Madagascar withdrawal, doesn't leave a lot to ruminate over. Somaliland long term, Chinguetti looks like decommissioning and C3 is hardly a jewel. Its finger out time
Just a watching brief Isen - doubled up and stuck in back drawer - zzzzzzzzzz
Decommissioning Tender is now out for the removal of FPSO and infrastructure this year.
Concur with your bottom, whether you get 85 today is in doubt - been "bottom fishing" myself over the last few weeks with FEET,LWI, HFEL, DIVI and BRWM - overall with a double figure rise - gut feel is any purchase of WPCT around these levels will be rewarded - good luck on purchase
Should have added - some of its assets in the UK Sector
if AP is giving away its Norway Assets for a song - I wonder if we have picked up a musical ??
The launch timing of this trust didn't coincide with the "bottom" but its a truth that the market was very much depressed. Easy buy for me at 87.7p, as downside looks limited. Lets be fair, on a 12 month basis it will recover to its issue price and I am even happy with 12% in this low interest environment.
You would almost think Kvalross was not water wet. I have a gut feel that some of Atlantic Petroleum assets may be coming our way. Long may it last
Looks like our partner in Somaliland is finding it difficult in "Kurdistan". Not that Somaliland is safe, but we might see this work beginning to progress.
Not the news I wanted to hear. Plaudits for continuance of drilling operations, especially a pure exploration hole, but guessing a tad of pain today. M & A is preferable in this climate !!
Most of us put these in the back drawer when the 50% private placing was first aired. it certainly turned me off accumulating and lowering my average. need to reach the dizzy heights of 10p for me. Enjoy the ride