Member Info for pauldrayton

Nice one daveri, I bought mine at average 75p. Let’s hope it comes good for all of us. All the best.

daveri I‘m sure you said two deals and £4+ the other day ;-).

There was a 20%+ day last week with over 1 million traded so you never know. They can't/won't announce until something is 100% signed up so we will just have to wait and see.

Over 6% of the company changed hands today. You’d think that must be a leak of sorts!

You’d think that must be close - within the next few days anyway assuming this rise on volume has some substance behind it!

Over 5% of the company’s shares have changed hands today alone. That’s probably more like 20% over the past week or so (there was one day when over a million were traded).

Can't see it on the list of trades?

What price?

You'd normally expect some profit-taking after such a rise, and I'm sure there will be some. But with so few shares in issue, it's going to be interesting if most decide to hang on and wait for an announcement. The price action over the past week suggests that something might be close.

They are looking at acquisitions so we are waiting to see if they have managed to acquire something, and if so, what! And on what terms.

I remember the RRE spread completely putting me off buying when it was around the 400p level. Thank goodness I dipped my toe in, although in hindsight I should have bought a lot more!

I think the spread usually increases when liquidity is lower. With the volume increase here over the past week, we are seeing 1-2% of the company changing hands every day.

Anybody care to speculate what the assets will be?!

What do you mean by 2 transactions daveri?

Do you know something we don’t?!

I did suggest a few days ago that they may look to do 2 or 3 deals this year (quicker than their initial plan) because the current climate will throw up some opportunities that they could take advantage of, but it was pure speculation!

Yes it’s also a very different market now from when Faroe started operating. Although Faroe was an extremely well run and successful company, I think they are going with a different strategy this time.

It's an interesting one. Depending on how much they plan to raise, the current share price could be irrelevant given there are only 10million shares in issue and a large portion of that is covered by the current cash balance.

As a bit of a poll, how many on here have moved some cash across to Longboat Enerrgy (LBE). Trying to do a similar thing to RockRose it seems, and if they are half as successful I’d be happy! What an unbelievable ride this has been. Never got to true valuation but still an excellent performance.

Just interested in how much cash has moved over to LBE from RRE. Maybe recommend this post if you have. Thanks

Well just by purchasing RockRose they will inherit their cash with is several hundred million pounds.

Also:

Viaro Energy chief executive, Francesco Mazzagatti added: “We have ambitious growth plans in the UKCS”.

It wouldn’t cost them much to fund a couple of wells on Liberator & Serenity and any success would give them an immediate increase in reserves, a low cost production option and a tie-back to their part-owned Bleo Holm.

If they have ambitious growth plans it would be an obvious place to start.

Anyone know when the RockRose sale is due to complete? Viaro have a lot of cash and are looking to expand in the North Sea. It would have been difficult for I3E to farm out Liberator & Serenity whilst RRE were selling out (approached in February apparently) so the closing of that deal may lead to new discussions with Repsol Sinopec & Viaro.

And that was when the oil price was $60+. They should get a lot more for their money now.

I think they will be awash with opportunities at the moment so it’s a case of picking the most attractive on the best terms. Ideally I’d like to see them really go for it this year and do in one year what they’d planned to take 2-3. This is a buyer’s market and as long as their backers are prepared to invest now, then they could really accelerate their plans.

Good point, if there is debt involved they wouldn’t even have to raise it all via equity, meaning an even higher potential placing price.

I’d be quite happy for them to issue equity at £15/share!

Good luck all, I think the management here are very shrewd and this market will have thrown up a lot of opportunities for them to get their hands on a bargain or two.