Member Info for Peakview

We are on the same page gator - and on the manipulation theme, why on earth maintain such a severe spread of 1.5p when the trading levels are so pathetically low? It is no encouragement to trade either way.

Have put an extra exclamation mark gator as I cannot understand how anybody would want to sell the share at this level in that quantity unless desperate for cash. Time for me to have another look down the back of the sofa.

Well done gator, and a nice show of confidence at a price which may not be repeated this year IMHO. Funnily enough, with 15 smaller buying trades this tax year, my average is 12.97p - almost identical. Out of bullets at present, otherwise I would be joining you.

smart move gold, and with a misread trade of 48k later in the day, the balance was actually in favour of Buys. This could tick back up with support before the weekend.

Major - I hope that "expiration company" you referred to was a slip of the keyboard? Would not want them to expire just yet as I have now loaded up at sub-1p prices - remarkably similar to the amended offer made for the company by IOG, you know, that company whose BOD you rubbished in a recent post. Seems a reasonable entry price for a calculated risk investment to me, and I wish your fellow posters and LTHs the very best with even greater feeling now.

BOD are quite simply backing their own project and their competence in managing it, and only taking their reward when the market reflects the advances to be made. Its a plus caddy, no danger.

Glad you enjoyed the gag major - and never worry about making a mistake, we all do it. In the dayjob here, which is just about the riskiest game of all, we do it constantly as it is the nature of the business. At least with IOG we have a good shout for long term success, so sticking with it through uncertain times deserves a result in my book. GLA

armchair experts, grandstand jockeys, and wishful thinkers - there are a plague of them at present, especially on the DELT board, where knee-jerk one-liners rule. Most predictions on the size of the offer - or what it should have been - were way out, and accompanied by a load of name-calling. Think that this BOD did a full degree of due diligence and came up with a figure that factored in current state of the market and investor mind-set with risk element, and arrived at a figure then an amended one that was not accepted. So, fair play - and we now get back to concentration upon the core project with full financial backing of a substantial partner. Status Quo restored for now.

Sounds like a sensible withdrawal from the offer window - and that Deltic BOD were reluctant to engage anyway. Nice try - but agree with gator, that if it is too expensive in terms of risk evaluation, leave it alone. So - back to basics now and the advancement of the core project. Time for a progress report from AH on action in the SNS!

Oil - if they can't fund them, CalE certainly will with the backing of BH. The 50% farm out that took place earlier this year was a game changer in every sense for IOG.

It may be a contrary view, but if the forecasters of a roundabout 2p Bid is in the offing, current price level will surely lift once IOG declare their hand? If the galloping major's requirement of at least 3p is met, then we have an even stronger case. The backing of CalE will be a key factor if further cash is required, so I am confident that we will something happening next week.

Agree with your points gator, and it is worth noting that companies who are backed by BH and the WB cohorts are not in the habit of making "spoof" bids. As well as hard business decisions there are reputations to be protected here, and conversations between the key players are bound to be taking place. It is also a bit pointless in posting a derisory or unacceptable offer, so I can see a fairly swift conclusion being arrived at here. Whether the market likes the arrangement is another story - as an LTH here I retain my faith in the BOD to pursue the core project within the timescale planned, hopefully armed with additional and substantial resources.

to know what is going on here with both DELT and IOG dropping in sp whilst we await the prospect of an offer being considered by IOG. Seems that the market does not like the idea of this takeover/merger?

You are getting preachy and I have too much at stake for far too long not to have done my homework on IOG - and kept up to speed with all developments and attendance at AGMs through all the phases. We all have access to the same facts as you major, and at this stage we are all guessing - some are educated and some are fingers in the air. It will be interesting to see the offer when it finally arrives - and that does not make it the final one.

major - we are all guessing at this stage, including yourself. Wearing your DELT hat you have produced estimations based on NAV figures, which in my opinion will not be the main factor in shaping IOG's initial offer. If you follow the pattern of takeover episodes, first offer rarely reflects the true value of the subject company - and in this case, as stated, IOG will need to put a more modest valuation on resources as yet unsubstantiated. In their own domain, a lot of hype and speculation was placed on the prospect of a bumper result at the Harvey well - which turned out to be a disappointment when spudded.
Long before being fully funded or having approved ownership of the Bacton reception facility, IOG sp stood at 34p - now in a much stronger place it stands at 13.5p! I am very hopeful that a t/o or merger will happen, as these two companies make a sensible and promising fit - but everything comes at a price, and my estimate of the opening bid differs from yours.

As I see it, irrespective of the NAVs of both companies, IOG will need to factor in the risk element that applies to the valuation of gas resources post-drilling. They have their own experience with the final results of Harvey, and will not want to over bid in spite of the obvious attraction of incorporating the DELT resources into their pipeline and reception facilities. This has always looked more like a merger than a takeover, and still reckon the offer will be around the 2p marker - which DELT will probably refuse, then on to the next round.

I think most investors have found this year to be brutal enough mole! But agree with a lot of your warning points, and the absence of an appetite for any sort of risk investment viz. AIM is the biggest factor for me. Certainly there should be no fancy prices when an offer for DELT is eventually made. Strangely quiet on both boards at this juncture, and not even a sign of the see-saw effect on relative SPs that one normally gets in these takeover intentions periods. Relieved to see that a Buy for 50k shares was recorded this morning after a long run of Sells.

Axis - I think that the "merged company" could become a serious force in the UK gas supply chain, and that would sit well with the ambitions of IOG's farm-out partner CalE, who have the immensely powerful financial backing of Berkshire Hathaway. You are probably right about DELT's rejection of an opening bid - it always goes that way in the opening skirmishes - but I feel that there is a deal to be done here, and one that would benefit both parties.

Axis - as LTHs at IOG we are well aware of this holding, also LOM at a further 25%. The declared intention of the LOG administrators is to hold for an orderly exit at a higher price to credit bondholders. At the time of the RRE "bid" for 20p, the SP was around that figure - so we assume that the admin are waiting for a higher figure. Meanwhile, the number crunching continues in the back office, and I feel that an offer will be on somebody's table before the deadline. How much? We are all guessing that one, and mine is an equivalent share offer of 2.0/2.5p.

Nothing wrong with your peepers gold - looks like a facsimile to me. Just to be sure that we realise the size of the holdings of LOG and LOM with 54% of the company between them. Wonder what the "offeror" will finally come up with by Oct. 9?