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No, not at all. 20 years.
Agreed, but this is because of the the poor existing bod, they had an amazing chance.
Shake, you are missing my point, I AGREE with everything you say in this post. BUT.. that is no longer an issue! they are not looking for finance, this is an asset sale.. Also, as I said, cut down EVERYTHING all expenses, then you do not need to prove anything up until the POO improves and there will be cash coming in, not raise more capital at present or even mid term, get the cash coming back in, wind down the company into a tick over mode.... IF the bod go! Do you see I agree with you about the past and present? but disagree in the approach perhaps going forward? p.s good discussion I think.
Shake, 100% agree. Personally I would rather the company remove the bod and replace them (yeah cos the bod will vote themselves out!) and then resume production however not try to expand but re-establish its cost base at a much lower basis. Ie remove london offices, run it from a front room, minimal cash expenditure. The debt is not really an issue, and I agree it is a buyers market. Doing what I suggested would get rid off the cash burn and return the company to profit. Agreed there are other issues but.. once a good management is in place and debt paid down and income stream producing.. the company would be back on the right foot. Aimho of course.
MZ is a shareholder so I doubt that he would have that info. Unless MZ / others are looking at taking over the company and splitting it up?
Ah ok, it looks to me (depending how you read it) that he was talking about MZ.Ltd, but it could have been constrewed to be talking on behalf of Kea as well by accident. Thanks Da_Gee for looking at the disclosure links and verifying it. The other link does show short though doesnt it. Guess they are short then over at 4traders! lol.
by some manipulators here.
or long? Version one.. = long.. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12255463.html Another version of the SAME RNS = short! ... http://www.4-traders.com/KEA-PETROLEUM-PLC-5974117/news/Kea-Petroleum--Form-83-ndash-Kea-Petroleum-Plc-19904179/ The LSE version has to be right no?
I didn't see it, but Kea can not be broken into three... I took a look at the company MZielonka Ltd, It has three main activities though.. Software, Finance related and Defence? Was it related to that? - Business and domestic software development (62012) - Information technology consultancy activities (62020) - Security and commodity contracts dealing activities (66120) - Defence activities (84220)
By Amy McLellan There were high hopes for Kea Petroleum when it was founded by the ex-Rift Oil management team. They had made money in Papua New Guinea, selling up to Talisman Energy in 2009 in a £114.8m cash deal that was a 30 per cent premium on the stock price, and hoped to replicate that success in the more benign operating environment of New Zealand. But, soon after its 2010 IPO, the AIM start-up felt the pinch of under-capitalisation, particularly when its first wells in the onshore Taranaki Basin came back dry. Two thousand and 2012 looked promising with the discovery of the Puka oilfield but it hasn’t been an easy project to develop and production has serially under-performed while further exploration has come back empty-handed. Now, with low oil prices taking their toll and the Puka site shut-in since mid-January, the company has put itself up for sale. It’s not the first time the company has had to think hard about survival. There was a strategic review in 2013, which ended in a farm-out at Puka to ASX-listed MEO Australia, reducing Kea’s stake to 70 per cent and carrying it through 80 per cent of the costs of last summer’s disappointing Puka-3 appraisal well. That well, which showed the oil /water contact was 30 metres higher than expected and significantly reduced the likely potential reserves, was described as a “bitter and unexpected blow” by chairman Ian Gowrie-Smith. Last month the company said it was continuing discussions with potential farm-in partners for the Mercury, Mauku and Shannon prospects, the latter being a limestone target beneath the challenging Mt Messenger sands at Puka that is described by Kea as one “we can’t afford not to drill”. Unfortunately, the reality is the company can’t afford to drill anything: the micro-cap has been seeking additional funding to cover an expected funding shortfall in 2015 – and these discussions continue. Cost cutting is also underway to preserve working capital, which “remains tight”. For the year ended May 31, 2014, the company generated just over £2 million in revenues in oil sales from the Puka-1 and Puka-2 wells and posted a net loss of £4.86 million. With the share price under pressure last year, particularly given the its dilutive financial funding arrangements with Darwin, there was a share capital reorganisation at the end of last year after the shares were trading at a price below their nominal value of 1p per share. The shares were are currently trading at 1.35 pence. http://www.oilbarrel.com/2015/02/19/with-puka-shut-in-kea-petroleum-hoists-for-sale-sign/
I think you have completely missed what I am saying, forget the company as it is now. It has value to someone who wants the assets. The assets exceed the market value. Think about it for a moment.. 10k buys 1% of the company, how many of these does it take to take control from the BOD and offer a new BOD based just to fix the short term interests afloat.. ie. Get rid of the stupid high wages, get rid of the london property, keep producing and you have in 3 years already got back the current market cap in savings alone. This company has viability via restructuring of the BOD, either via a take over, merger or refinancing AND BOD restructuring as previously mentioned.
Well, I think it's health is evident by the closing of the wells.. still, there is value in the oil assets, perhaps not at present day, but there is value.
What do you wish to know exactly? there isn't much to say about it. Let me summarise though for you as best I can. There are Warrants expiring 31 May 2015 (2,160,714 of them). In total the company has 93m shares issued. A warrent is kind of like an option to buy shares in a company, if they were to take the warrant up they would be able to buy 2m shares however it would cost £1 each.. not a good bargain really so it will naturally expire. To see the full break down take a look at the following... In addition to common shares there are the following.. · 2,160,714 warrants over 2,160,714 Ordinary Shares exercisable at 100 pence per Ordinary Share expiring on 31 May 2015 · 1 warrant over 1,200,000 Ordinary Shares exercisable at 26.563 pence per Ordinary Share expiring on 16 January 2017 · 1 warrant over 820,513 Ordinary Shares exercisable at 24.375 pence per Ordinary Share expiring on 01 June 2019 all of which will expire so are irrelevant. You can see the origional info behind this if you take a look at http://www.investegate.co.uk/kea-petroleum-plc--kea-/rns/updated-rule-2-10-announcement/201502171412301494F/ Hope that helps.
last night there was a short of .6 of the company and now .5 of the company has just been bought ... shares shifting sides .. would be hard for a short to close if it is them and there is sustained buying. lol not often you can buy that much of a company with so little money! really wouldn't take much for a hostile take over at all let alone a merger / offer! They can't have closed it already can they? or perhaps they were hoping for another sell off?
(b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" None (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NO Date of disclosure: 19/02/2015 Contact name: Matthew Zielonka, 83 Baker Street, London, W1U 6LA Telephone number: 07944658480 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
Class of relevant security: 1P Ordinary Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 991549 1.06 (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 991549 1.06 All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit 1p Ordinary Purchase 37,192 0.0141 (b) Cash-settled derivative transactions Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit (ii) Exercise Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of inten
oh well, here it is. RNS Number : 3915F Matthew Zielonka Ltd 19 February 2015  FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1. KEY INFORMATION (a) Full name of discloser: Matthew Zielonka Ltd (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Kea Petroleum Plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 18/02/2015 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" NO 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 1P Ordinary Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 991549 1.06 (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 991549 1.06 All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purcha
on this site?
I have seen this before for even a 20 quid trade, why spend 500 quid to tell the world you spent 20? Whats the logic?
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12255463.html