Member Info for Shurething

This is quite a common option with mining and oil/gas companies. If a particular subsidiary fails it can be liquidated but not affect the parent company too badly (it depends on the exploration/production balance). In the case of Oilexco it seems the market does not know which way the share will go.

SUBSIDIARY ONLY ... CALGARY, ALBERTA--(Marketwire - Dec. 31, 2008) - Oilexco Incorporated ("Oilexco" or "the Company") (TSX:OIL)(LSE:OIL) announced today that its wholly-owned subsidiary, Oilexco North Sea Limited ("ONSL"), intends to file petitions for administration ("Administration") in the High Court in the United Kingdom as soon as reasonably practicable but likely as early as next week. Oilexco Incorporated is considering its options in light of this development but at this time remains solvent and committed to the strategic review process that was previously announced.

Agreed, there is that risk. However, there are a lot of hopefulls out there. They will probably pile in at these prices.

Just out of auction. On the way up perhaps.

First significant positive move for weeks. Not driven by rampers (for once).

Balfour Beatty welcomes go-ahead for A46 Newark to Widmerpool road scheme 23 Dec 2008 Balfour Beatty, the international engineering, construction, services and investment group, welcomes the announcement by the Department for Transport that the A46 Newark to Widmerpool project has been given the go-ahead. The A46 is an important regional strategic road connecting the East and West Midlands and has been identified for accelerated delivery under the Government’s fiscal stimulus package. The Highways Agency cost range estimate for the project is £322 million to £409 million.

The statement by Ennstone at least provides a bit of clarity. Perhaps they should have provided some of this before now, bearing in mind it is now several months since they first announced their problems were so bad. They have thereby boxed themselves into a corner, whereas a few months ago, when the share price was higher, and before the banks nearly went bust, they could have tried a cash call. Many cash calls in the late summer were successful, whereas now this is a no hoper. In tough times it is common for management to keep schtum, whilst the nervous breakdowns are kicking in. The transition in the last few months from being tough to being a potential disaster is unprecedented.

Buyers today may flock. Buy price is already 0.75p. This should mean that the sell price will creep up during the day, as long as buyers hold at that higher price.

Late afternoon buys, which don't register on this site, were in the range 0.34 to 0.37, according to Yahoo. I expect this will form a baseline for opening, plus a small premium. The reason they are likely to go up is that, if they do get their house in order, anyone buying now will see an enormous profit in percentage terms. Although this happens rarely, it sometimes happens impressively - for example with Corus a few years ago after they dropped to around 4.5 p. Similar problems to ENN of debt and high running costs, but also lots of hidden assets to in the form of land banks over their many sites in the UK.

Keep them, the broker's commission will wipe out the £10.11 anyway. Ennstone's only mistake was to borrow to expand when they should have been banking their profits. But you can say the same thing about two thirds of the shares on the stock market. You can probably say the same thing about half the population of the UK. Hope they come good, and in the meantime dip into your pocket for the kebab and can and enjoy your weekend - sounds good!

At the present any buy is a risk. It is also true that if Ennstone reorganise themselves to the satisfaction of their bankers they will survive and their value should rise significantly. A small punt of a few hunderd pounds, if you can afford to lose it, is the best option. Then sit tight. Don't cash in on 100%, 200% or 300% profit unless you have to. If they do survive you should be talking of 1000% profit inside 12 to 24 months. That would be good! They hold a significant chunk of the UK's hard rock (roadstone) quarries in NE Scotland, as well as limestone in England. There would be buyers, but everyone is running so scared at present and those companies with money are conserving it. Just like Jo Public really. But we have to break out of this rut and attitude sometimes, otherwise in the words of Frazer from Dad's Army: 'We're all ....ed'.

Biggish buys at day's end should auger well for the medium term.

Altruism is not dead ..... however, Portland's main objective would be to profit from seasonal price disparity - which in the case of gas is anything from a 100 to 200% mark-up between summer and winter prices. This isn't the only such scheme to benefit from seasonal price disparities (see IRG). The primary objective of the Company is to maximise shareholder value from the Portland and Larne Lough projects. These projects are of national importance and between them they could supply up to 42 million cubic metres (“mcm”) of gas per day (approximately 10% of the UK and Ireland’s gas requirement on a peak day) with the potential to increase the current and approved gas storage capacity in the UK by approximately 20%.

There will be short-term support to 35 p I think. Beyond that 50 p is probably a reasonable guess in what are poor market conditions.

Don't see why these should have moved down. They have plenty of cash and a world-lass product in their downhole gas compressor. This has applications not only in improving gas and oil extraction from depleted reservoirs, but also in deep, natural-reservoir gas storage (see IRG) and CO2 sequestration applications. I have bought at this price and will hold on.

Thanks folks for buying. We might lose a few hundred quid but the dissatifaction will be small compared with that if this company turns around and rises back to what it should be. The balance sheet suggests borrowing is not as high as the two hundred million that has been quoted by the press a few months ago. All Ennstone needs is another (hostile) suitor to join the fray or else the bank to agree to renegociate ENN's borrowing.

There has been talk of these. Any takeover offer would surely have to go to a ballot - in which case I thing shareholders will veto unless the offer price is more that a million quid! If they go bust the liquidators would surely gat far more from the sale of the assets - even in these market conditions, than there would be liabilities. Be brave folks and buy some - just 500 quid's worth as a max will secure you a significant chunk of what has for years been a successful, profitable, respected and well-run company. Then vote against a takeover!

Sold half yesterday high, then half the remaining at 58.5, then the rest at the current price. I was only in for 8000 total anyway. Stocking fillers are better than the enormous holes that have appeared in them over the last month!The biggest 'rampers' at present are the brokers!

Hi cazsimps. I have no idea, have sold all mine now for that reason!

Thanks for the reply sootyandsweep. I realise that, but am still puzzled as I have been flogging in bigger 'bits' than that as the price has risen, having bought early yesterday at 33.5. Yet my trade today doesn't show.