Member Info for parkside13

You are right that the Bozos can't vote but as I've said before, institutions are fed up and want liquidity. Big haggle will be exit price. If they steadfastly offer say 70p will the shareholders take it? Dunno?? But it's a complete f1ng Indian crap fest. Bozos is well named I think!

65-70p.

Hey Bhaj, gotta love the lying cheating bstrds!

It'll go through. We are screwed!!

Bhaj I'm not dissuading you at all. I have an awful lot of these damn shares and I hope very much that they recover. My gripe with the company is in its behaviour. It just does not act, look and feel like a grown up FTSE250 company. Really badly drafted RNS's, silly diversions and the whole thing compounded by non delivery - constantly. Add in $6.4bn of debt and no wonder the equity has performed so poorly. But as I say I'm not dissuading you. If you read my previous comment whilst I am not brave enough to buy more, nonetheless if you invest £1 now it'll either be worth very little in a few years or 3x plus your invested capital, that given its assets, potential in India and the equity's gearing to the Brothers awful sorting it out.

Quite big downgrades today on the back of very weak STOR pricing. As predicted!

WIND has just announced a big STOR plant powered by used cooking oil. Gets ROCs I think. They say it'll be the first of a few plants. If it gets ROCs that must make it competitive? Diesel or gas doesn't.

That is helpful. Don't know what else they need to get going on clearing it other than the lease? Wonder if they need any environmental stuff? Anyhow, assuming they don't ten they can clear the damn thing - which will take maybe couple of years - and get mining. Cheap coal - yee ha

Well up 11% so maybe some short closing? Another 60p and I'm all square!! I don't know. I'm still intrigued by GDF Suez buying an Indian power plant although I don't know how much per installed MW they paid. I do sort of subscribe to the notion that the sum of parts is quite a bit higher than the current share price but it all depends on their liquidity position and whether they are forced sellers. If the EBITDA is legitimately $1.3 to 1.4bn then they should be ok but profitability at Essar Oil is currently falling so I doubt whether it'll hit the analysts forecasts that unless power is doing better. Which it won't be! So I bet there will be downgrades to EBITDA numbers. If it gets towards $1bn it'll start creaking. We will see!!

Yup. Agree. Essar Energy out in the 18th. Be interesting to hear what the plan is.

But hey maybe that was all in the price! I guess it can't go much lower at least not more than 57p lower!

Poor refining margins, net loss when mkt had expected a small profit, poor progress on dollarisation, poor margin outlook, etc etc etc.

Terrible results from essar oil. Downgrades in value for Energy now below 50p. What a completely **** company bluntly.

Well that is a question! When I originally bought the shares they had demonstrated quite the depth of uselessness that they have subsequently mined. Would I buy the shares now other than for a complete punt - no! They are a complete punt. They have terrible coverage ratios, have missed almost every target, compounded by a debt mountain of staggering proportions. Now I get where this all came from. India is booming, energy is the future boys so leverage up against stable power revenues and you can double your equity. The trouble is that Indian politics are terrible, they are terrible listed company operators (running it like a private fiefdom), got hit with a huge tax bill and the result of all this is a bit of a disaster for the equity. I get all of that. But it is compounded by the fact that no one trusts them anymore. They just don't seem to be able to articulate a plan and then deliver on it. Having said all of that if they do start delivering, either by improving EBITDA or selling assets, the equity is now incredibly highly leveraged. So if it does recover, the assets are sufficiently well developed that EBITDA could grow very rapidly and thus the equity will, from here, go up a lot. So would I buy them? If I could afford to lose the lot in return for the chance to make 3x my capital - yes.

That is the point I guess. The whole thing is utterly bizarre. I spent 20 years as a fund manager and this is the oddest company in which I have ever invested. Their IR is utterly peculiar and it is akin to a private company the way it seems to hop from one thing to the next. The point is it builds 30/40/50 year assets so it shouldn't be like that and I'm sure underneath the idiots that run it, it is probably quite sound but you wouldn't get that from the way it RNS's things. The announcements are truly bizarre.

Oddly enough I got it from their news of yesterday. I have no idea whether a steam pipe was the cause or they lost power to the plant or whatever and of course they didn't use bloody duct tape!! It was a (poor it seems) attempt at sarcasm!

Love the news on Stanlow. A steam pipe breaks, the plant goes down and the engineer chap says dramatically "no idea when it'll be back up and running". So sounds like it'll be March 2017 at the earliest (given Essar's delivery rate that could actually be March 2037). Then around 24 hours later it restarts. So there we are, they can deliver, even if it was welding up a steam pipe and a bit of duct tape. Wonder how the ash cloud in India is going?

It's all under control. Don't worry the brothers bozo have a cunning plan. All to be revealed at the results. I don't know why you would worry. Hey Bhaj any thoughts on this. As Warren says buy on fear. Are you buying or are you too fearful??

Cant wait. Fracking in the Himalayas? A new form of gluten free curry? Converting their power stations to run on recycled cow dung? They haven't said anything for ages so its got to be a really really crazy idea else they are in all sorts of poo. Who knows in the land of Bozo.

Lucky you. You are obviously possessed of the sort of innate brilliance that I sadly lack.