Member Info for wokinpark

short reply - we have Egypt !!!!!!!! yes i know - but we have residual payments from recent sales also but apart from that - zilch. we have a trend of not finding oil if we explore recently but the BoD likes to throw the money around. i would be wary of Kenya pending the election result and aftermath. i dont know what the answer is, but i dont think it is a merger with TLW or it is a merger but not at 3.8:1. i wish the BoD would just get out and leave it to others who have the company's interests at heart rather than their own.

i think you misunderstand the situation. those material shareholders think they are being undersold into the merger by the BoD. they think the company is worth more than the terms agreed (which of course is dependent on the respective SP's when the merger proposal is to be voted upon). they have a point as a CNE SH. their comments have lifted the CNE SP and gives a potential view to other SH's that maybe the merger is not in their best interest also. it does not mean that the CNE SP will shoot off to 275/300/350 or whatever number they put on it. the underlying issue is that 3.8 to 1 is not currently sufficient to influence them to vote in favour. i dont know what number is sufficient but if they have 25.01%+ SH's voting against, then the merger wont go through unless TLW and CNE board fall back to a majority of SH's vote in favour. it might get TLW out of their hole but CNE can wait either for a better offer or to go it alone. i am a TLW SH also but i dont think the merger is in the best interests of CNE, i think there are better ways to achieve a more viable business and/or SH distribution in the current climate.

oddly i read the Co-operation agreement on friday and it talks about effective dates but i think it is up to TLW and CNE boards to decide on the voting timetable. the guessing seems to be mid November.

good to see you back Grumpy.
imho, the merger wont go ahead from 4.5 to 1 to 3.8 to 1 ? cant see it happening unless Kenya comes off for TLW. i'm out of CNE at these prices, just waiting to maximise theproceeds before i re-invest elsewhere. i'm keeping TLW for the time being on the off chance that Kenya comes off or their other assets become +ve. i'm into Afentra and CHAR also so they become my go to oilies.
i think you need to let go of your -ve views of Modis Millions, etc and focus on making money for yourself however you do it. not telling you how to suck eggs, etc but no value in that at all.

I may be a bit naive but i dont see what Palliser have said as being factually wrong. anyhoo the SP is going the right way from a few weeks ago and any 235+ pricing is welcome by me as i intend to exit in any case and keep my modest holding in TLW for the time being. the update in early Sept might be a bit more informative but for the BoD to restrategise from where they are would be egg on face, ie that either the merger is not best for SH's or to reconfigure the x for y shares in TLW. Kenya may change that perception for TLW but i cant see it. how many times have oiler SH's been disappointed by "sure fire" winners ?

no arguement, i just cant see it. Kenya is politics dependent and how much money can you fit into a paper bag imho.

as a CNE SH i think this merger is dead in the water at current prices. unless Kenya comes off for TLW in the short term, there is nothing going for it from CNE's POV. i'm probably out at 235+ in any case and will keep my TLW shareholding for the time being.

m8, CNE should be listed under "BoD dont know what they are doing apart from feathering their own nest (allegedly)" section of the LSE. i think most smaller SH's dont mind the merger as they see it as a step up from what there currently is, but the Big SH's can see through it (for their own good of course).

https://financialpost.com/pmn/business-pmn/capricorn-energy-urged-to-drop-tullow-deal-with-opposition-mounting

on the bits of comment that some of the major SH's will vote against the merger as it stands and i assume as the SP's are currently. seems to be 27% of the votes will be against + no doubt more from smaller SH's.

you must be new to CNE as the BoD of that company and "adding serious value for their shareholders" are mutually exclusive statements!

ok, why do you think it should be less than 3.8:1 in favour of TLW ? for the life of me i cant see it. i would be asking for anyhting between 4.25 to 4.5:1 if TLW need the merger. but then they become the minority no doubt so thats not going to happen. i still cant see the non-financial merger advantages of the deal at all.

first time i read it, i thought you said i dont want Tullow toilet paper ! it probably is (even though i have a reasonable holding in it !). i dont think i will be voting for the merger at any thing below 4:1 unless good things happen to TLW SP before then. Guyana seems to be a wash out and Kenya seems to be govt dependent.

rumoured to be in talks to buy Aberdeen mall for £ 140m

mergerwill be decided by the big boy as usual, small SH's make noise but we never get heard. would be glad to get 4:1 + if the relevant SP's are still like that going into Q4 but i can see TLW having a rebound now if good new is on its way.

and we're moving on up ! a nice bit of consolidation in the 220's would be welcome

its telling that its a bit dormant for CNE, CoSec haven't even updated major shareholders since 10th June.................probably find out that Mr Musk owns it all the next time they update it !

yep, the knives are out. see below for a misleading heading - handing shareholders billions - how and where ?

https://uk.finance.yahoo.com/news/ftse-100-british-gas-centrica-shareholders-082927180.html

i reckon it will be neutral by the end of the day but here's hoping to an upward tickalong to 125 by Q4ish this year, along with say 3.5p divi for the year inc 1p announced today.

from a +3 first thing to -1.5 ! Thanks a lot !