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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Maple Energy | MPLE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.625 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.625 | 1.625 |
| Top Posts |
|---|
Posted at 01/3/2016 16:42 by stonefold " ... Monday 29 February 2016 | 8:01Maple Energy: We will call for bids to acquire oil Nabil Katabi, CEO of Maple Gas Corporation del Peru , does not rule out acquiring assets of Duke Eergy in Peru Juan Saldarriaga Journalist Día_1 @JuanSaldaringa The failed bet Maple Energy by ethanol (biofuel from sugar cane) plunged the company into a deep crisis. But this failure led to the return of the original investors, Maple determined to return to its roots: the production and refining of hydrocarbons. Today, the company intends to maximize the capacity of its refinery in Pucallpa and ready for it to allow an international tender to acquire oil in the Amazon. From this, their immediate plans and the possibility of acquiring the assets of Duke Energy in Peru, spoke with Nabil Katabi, brand new CEO. --- What is the business of Maple following the sale of its ethanol? The main asset of Maple Gas is the refinery Pucallpa (Ucayali), concession granted by Petro-Peru. We also have three oil fields: 31-B (Maquia), 31-D (Aguas Calientes) and 31- E. Now they called Maple Gas? Maple Gas was part of Maple Energy. This company had two subsidiaries: Maple Ethanol, whose assets were sold to Gloria Group and Maple Gas, which was bought by a consortium of investors composed of Maple Resources (led by Jack W. Hanks company) and investors in London. What made this consortium was to acquire the debt of Maple Energy, which conferred a series of rights to the company. --- How much debt amounted? Maple Energy owed $ 19.8 million to the group of banks that ended up controlling its two subsidiaries [following the bankruptcy of ethanol business]. But its total debt amounted to US $ 63 million, including the assurances given by the ethanol project. It was a disaster involving Maple Gas, company that had always been very orderly. The work of the consortium was to rescue and clean up this good asset, buying their debt. --- It is said that among the buyers of the debt is Matias Rojas, known oil trader. There is a complex investment structure behind the purchase of debt, but we have the profile of the trader (Matias Rojas) that is very positive, because it is helping us to invent creative solutions to handle the refinery, making it more efficient and grow. What strategy have to grow? When we return to the refinery, this processed 1,400 barrels of oil per day (bpd). But its maximum capacity is 4,000 bpd. Our business opportunity is to pass [refine] from 1400 to 4000 bpd. How? Buying more crude. We thought we do with Cepsa [which operates the neighboring lot, 131], but if not participate, we will convene an international public tender to buy crude and condensate produced in the country and in the Amazon. --- What is wrong with Cepsa? You evacuated its oil, but stopped. Evacuate is not the right term. They began producing crude in September 2014 with a test well. Then drilled two more confirmed its production. They came to draw 4,500 bpd. Then they signed with the previous management [Maple] agreement reception, storage and dispatch of oil. --- Do not you were refining that oil? With the problems we had at that time we were not able to do so. We received only the crude, we stored on a barge off our refinery and we sent Refinery Petro-Peru, in Iquitos. We are the only company capable of 'tanking' for that service in the area. --- But Cepsa has stopped producing since January, what happened? The contract with them expired on December 31, 2015, but we are willing to renew based on two conditions. The first, which sell us the amount we require to fill the Pucallpa refinery (we need only half of the production of Cepsa). And second, that offer us a similar price paid by Petro-Peru. --- What Cepsa answered? We agree to pay a higher price than the market so they can keep producing despite falling crude oil prices. We send a letter, but inexplicably refused to negotiate until we understood their strategy. --- What strategy? Complain to the government that they can not produce our fault, when they are looking for an excuse not to keep producing. That is why we are visiting the authorities to explain this message and to understand that we are not responsible. --- But still they are negotiating with Cepsa? There has been no communication lately. But the doors are open. Simply sell us the oil in the same conditions as Petro-Peru and resume operations immediately. --- Is that why open the bidding? We'll do it anyway. Until convene a bidding we can not know how much oil is available in the market. There see if we can process heavy crude, such as Perenco [lot 67], to produce asphalts, and a hundred options. We have the will and the resources to do so. --- What currently produced in Pucallpa? First, diesel and gasoline going to Pucallpa market. Then gasolines that are acquired by Petro-Peru and Perenco. Then solvents are going to the paint industry in Lima. And waste, Electro Oriente (Tarapoto) and the brewery San Juan. We have 25% of the fuel market in Pucallpa. The rest is Petro-Peru. --- And what happened to the shale gas had been discovered? Shale gas find in Lot 31-E [2008], but that area was returned to the State, except the Pacaya field. Unfortunately, the resource is in the Amazon, where the cost of developing it is higher than in the US --- And what are your plans for lots 31-B, D and E? There, we are producing 340 bpd. They are decades old batch production profile and lower, although happily exploit light crude. We are looking at options to improve production, but would greatly help the government lower the royalties. --- And what will they do after filling the refinery? Some ideas we are going to occur. We want to stabilize to grow back, invest in Peru and perhaps in other countries. For example, we watched with great interest the sale of the assets of Duke Energy. They are operations we know very well, because we build them [the gas field Aguaytía, thermoelectric and transmission line]. --- Does that mean they could buy the assets of Duke in Peru? Yes, but we would not do under the shield of Maple Gas. Our investors are looking at that opportunity. --- Duke had a problem there with the price of gas. The same as all oil: royalties are too high and are in arbitration with the state. But its assets have synergies with our own, and that makes them attractive to any investor. --- So is it possible to buy the assets of Duke? We're thinking. But lack Duke makes it official. Of course, they also operate two hydroelectric dams in Peru. If the sale is per package in each country, the priority would thermoelectric. For hydro, insurance look for a partner ..." |
Posted at 30/4/2015 13:10 by cantrememberthis2 Kenny - its bizarre that they havent simply taken this to administration - makes you wonder do companies ever go into admin in Peru.Perhaps this is their method but to us uk investors its not called administration but the days of the living dead and in a zombie state. LOL they must have all sold up or made their money on the way via hedging... Who knows! |
Posted at 28/11/2014 09:21 by stonefold Peru - $122 mln ethanol investment announcedPublished: 27 November 2014 07:59 AM Local press reports said that a group of Japanese investors plans to invest in an ethanol plant in the district of Cayaltí, Chiclayo province in the region of Lambayeque. The plant, due to serve the export market will need around 12,000 ha of cane" ----- There are investors out there. Earlier reports say $350 mln over three years with aim of first production at Cayaltí at end of 2017. Cayaltí is 400km south of Maple's plant. Maple has 13,500 hectares of land available, of which 7,400 is planted and 2,000 planned for planting? The Japanese investors would not need to wait for three years - if they signed instead with Maple the production start button could be pressed in a few days. |
Posted at 15/11/2014 14:06 by shabi1985 From lse.REPLYAs should be with any stock investment, investors should carefully assess their risks and we encourage investors to review all information disclosed about the Company's financial situation Company will update as always as soon as any material event occurs. We are attaching last news release about the equity process (highly complicated process) which clearly states: "Shareholders should note that the Offer is conditional at this stage and will require, among other items, formal approval from a number of parties including the Company's senior lenders and Fondo de Inversión en Infraestructura, Servicios Públicos y Recursos Naturales ("AC Capitales"). Accordingly, there can be no guarantee that the Proposed Transaction will be concluded on terms acceptable to the Company, or at all." Also below the note stated in the last financial statements announcement of the company dated September 30, 2014. Going Concern The Group has prepared forecasts and cash flow projections which take into account reasonably possible changes in the timing of cash inflows and funding, but which assume that it will successfully secure the strategic investment on a timely basis. These projections have been prepared in detail through to 31 December 2015 and support the conclusion of the Directors that assuming the completion of the Key Financing Transaction on a timely basis, the Group and the Company will be able to operate as a going concern within the level of its current resources. The cash flow projections are dependent on the Group successfully completing the Key Financing Transaction by November 2014 and substantially achieving its forecasted EBITDA, in particular, the forecasted EBITDA in respect of the Ethanol business unit. The cash flow projections also take into account a successful restructuring of the senior long term debt repayment terms for the ethanol business. The Directors believe that the Group's cash flow and profit forecasts represent the Group's best estimate of the actual results over the forecast period at the date of approval of the financial statements. The Directors have concluded that the completion of the planned equity or investment financing transaction, the future price of ethanol and the availability of sufficient feedstock for the ethanol plant represent material uncertainties that may cast significant doubt about the Group . |
Posted at 14/11/2014 22:59 by shabi1985 Whats the point. Deals prob failed. Maple bust or was it all a set up by bod or screw investors. |
Posted at 21/10/2014 08:58 by sparty1 Well I`m not waiting for 1p ..in this morning..I like this from iii (dwiggy)"Did a bit of digging on these after the massive rise on Fri, its a great business model they have with a huge renewable energy source (see link below on sugar cane). Definate good point to buy in and average down on any large drops. As somone mentioned on an earlier post this is worth more than triple current price, but based on enterprise value from Proactive investors one could be paying over 100p per share! which this was trading at back in 2009!" hxxp://www.wikihow.c hxxp://www.investope [...] |
Posted at 17/10/2014 08:43 by h2owater Maple Energy Receives Offer For Substantial Part Of Ethanol SubsidiaryThu, 16th Oct 2014 18:47 LONDON (Alliance News) - Maple Energy PLC Thursday said it has had an offer under which it would in effect dispose of a "substantial part" of its equity stake in its principal trading subsidiaries to Graña y Montero SAA and Alcogroup SA in return for investment at subsidiary level, which it expects to provide enough capital for the ongoing operations its ethanol business. In a statement, Maple Energy, which has been seeking equity financing for its equity business for some time, said the investors are to pay an initial USD4.0 million to acquire 40% of The Maple Companies Ltd, the subsidiary which holds the company's ethanol production and hydrocarbons operations. The investors will commit to make a further USD13 million equity investment in The Maple Companies, according to Maple Energy, as part of a capital increase that will dilute Maple Energy's shareholding in The Maple Companies. Graña y Montero Petrolera SA, a subsidiary of Graña y Montero SAA, will pay USD31 million to acquire Maple Gas Corp del Peru SRL, which is a subsidiary of The Maple Companies dedicated to the hydrocarbon production, refining and marketing operations. The proceeds from the sale and from the planned equity injection will be paid to The Maple Companies, according to Maple Energy, which will then transfer the funds to the ethanol business operating subsidiaries. Maple Energy currently has a 95.4% interest in The Maple Companies. If the deal goes through, that stake would be reduced to just 24.1% and The Maple Companies would own the ethanol business as its sole interest. G&M and Alcogroup SA would hold stakes of 30.4% and 43.5% in The Maple Companies. If concluded, the proposed deal is "likely to constitute a related party transaction" under AIM rules, because Michel Meeus is a director of both the Maple Energy and Alcogroup SA, one of the investors. In addition, the deal is likely to constitute a so-called fundamental change of business under AIM rules. Maple Energy said it "has reviewed and is agreeable" to the terms of the offer and is "diligently progressing the actions required to finalise the detailed terms" of the proposed deal. The offer requires approval from a number of parties, including Maple Energy's senior lenders and Fondo de Inversión en Infraestructura, Servicios Públicos y Recursos Naturales. Maple Energy said there can be no guarantee that the deal will be concluded on terms acceptable to it, or at all. Maple Energy shares Thursday closed up 0.2% at 2.88 pence. |
Posted at 16/10/2014 18:47 by krr13 Maple Energy plc16 October 2014 16 October 2014 MAPLE ENERGY PLC ("Maple" or the "Company") PROPOSED TRANSACTION As previously announced, Maple Energy plc ("Maple" or the "Company") has for some time been actively seeking equity investment from strategic investors in order to secure the sustainability of its ethanol business. The Company can now confirm that it has received an offer (the "Offer") from Graña y Montero S.A.A. and Alcogroup SA (together the "Investors") under which the Company would, in effect, dispose of a substantial part of its equity interest in the Company's principal trading subsidiaries to the Investors in return for a material investment at the subsidiary level (the "Proposed Transaction"), which it is expected will provide sufficient capital for the ongoing operations of the ethanol business. The principal terms of the Offer are as follows: -- the Investors will pay an initial US$4,000,000 to acquire an equity interest of 40% in The Maple Companies, Limited ("MCL"), the subsidiary which holds a 100% interest in the ethanol production and hydrocarbons operations, in which Maple has a 95.4% interest; -- the Investors will commit to make a further equity investment of US$13,000,000 in MCL as part of a capital increase, thereby further diluting the shareholding of the Company in MCL; -- Graña y Montero Petrolera S.A. ("GMP"), a subsidiary of Graña y Montero S.A.A. ("G&M"), will pay US$31,000,000 to acquire the entire issued share capital of Maple Gas Corporation del Peru S.R.L., which is a wholly-owned subsidiary of MCL dedicated to the hydrocarbon production, refining and marketing operations. The proceeds from this sale and from the planned equity injection will be paid to MCL which will transfer these funds to the ethanol business operating subsidiaries; and -- following the Proposed Transaction Maple would retain a 24.1% interest in MCL, which will own 100% of the ethanol business as its sole interest. G&M and Alcogroup SA will retain an interest of 30.4% and 43.5% in MCL respectively. If successfully concluded, the Proposed Transaction is likely to constitute a related party transaction in accordance with Rule 12 of the AIM Rules for Companies as Michel Meeus is a Director of both the Company and Alcogroup SA, one of the Investors. In addition, the Proposed Transaction is likely to constitute a fundamental change of business in accordance with Rule 15 of the AIM Rules for Companies. The Board of Maple has reviewed and is agreeable to the terms of the Offer and is diligently progressing the actions required to finalise the detailed terms of the Proposed Transaction with a view to publishing a circular and seeking the necessary shareholder approvals as soon as practicable. Shareholders should note that the Offer is conditional at this stage and will require, among other items, formal approval from a number of parties including the Company's senior lenders and Fondo de Inversión en Infraestructura, Servicios Públicos y Recursos Naturales ("AC Capitales"). Accordingly, there can be no guarantee that the Proposed Transaction will be concluded on terms acceptable to the Company, or at all. The Company has been informed by G&M that, under the rules of the Bolsa de Valores de Lima, G&M is required to announce certain details of the Proposed Transaction (the "G&M Announcement"). The G&M announcement (in Spanish) can be found at hxxp://www.bvl.com.p The Company will provide a further update in due course. |
Posted at 03/10/2014 09:22 by the stigologist advfn number one bottom fisher gone a bit quietLoverat 2 Oct'14 - 06:08 - 2849 of 2884 1 0 That's the MO of stigologist - wait until a stock has declined 95% and then start deramping. A novel way of investing. Most seasoned investors and traders would have simply shorted a stock when share prices were high. Stigologist waits until a stock reaches an all time low hence why he has turned up here today for the first time. A low grade bottom fisher? I'd say so. |
Posted at 30/9/2014 18:30 by cantrememberthis2 Declaration time for investors 166,500 @ 8p so I cant be going anywhere soon.we are lower on the lack of progress and not necessarily takeover tanking. We knew how bad it was pre takeover rns. Dilution looks likely. Most investors are in at much higher levels including Mr Michael Meeus at around 15 million for 37p!!!!!!!!!!!!!! This could move faster than a heartbeat on concrete financing arrangements. Holding and added even bizarrely today @3.19p Hold for me |
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