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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Valiant Petrol. | VPP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 437.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 437.00 | 437.00 |
| Top Posts |
|---|
Posted at 20/3/2013 23:31 by ed 123 Only have about a third of my Valiant left. Gradually sold about two thirds.FWIW, I think the takeover is good for both sets of investors. Also think Ithaca may fall further when the Valiant holders get their shares. Some have positioned themselves for this. I sold a few from my holdings at about 120p. Ithaca shorts 5.7%. They will have to buy back at some point. If I fancy a gamble at the time, I may try to call the bottom. IMO, only a tiny chance (1%) of a counter-bid now. I think PB is silenced by the confidentiality agreement he would have had to sign. He may even have bid slightly more than 475p and in cash - but we'll never know. I expect he'll put his cross in the box to accept Ithaca's offer, take the millions and move on. I picked up a few TRAP in the duster dip today. Scotney will most likely be another duster - but I went for it on a risk/reward basis. No advice intended. |
Posted at 28/2/2013 20:13 by sludgesurfer Ed, correct me if I'm wrong but that information w.r.t Causeway is pretty dated. I'm going to stick my neck out and say that Causeway is either watering out or losing pressure support quicker than prognosed, hence water injector and ESP turn on (sooner than I believe was predicted). If I was in the Valiant data room running my slide rule over the company, I'd be sure to keep an eye on the well test results of Causeway from Cormorant. Something is wrong here and this is my guess what it is. A guess is all it is. I'm well underwater here and want a good outcome as much as anyone but something stinks. I hope I'm wrong but my gut feel is that a bunch of companies have been through Valiant during this process and they've all walked. Conjecture, gut feel and guesswork, but in the barren desert of Valiant investor communications, that's all we've got... |
Posted at 27/2/2013 20:49 by hpcg ohisay - I wouldn't want anyone to get the idea I am anything other than a small investor. If I had half a million quid to throw around I would be doing all sorts of things which can't be described on a family bulletin board such as this.I've had Valiant on my watch list since the crash and its always looked cheap but never the best opportunity. It still isn't but I like a bit of diversity. I never really thoroughly researched before but I began to when this started bumping against 400. A read through the annual reports shows on the one hand solid development and growth but on the flip side they've had their share of disappointments and delays. Unsuccessful exploration wells are a given for any company but they're on a bit of a fallow run. So P2 looks a little light and there is no big kicker in some exotic local. The upside should come from the power of cash flow. That means a strong negotiating position with asset rich cash poor companies and the ability to farm in to more exciting opportunities. I think they made exactly the right move into Norway. They should have stopped the hand wringing about the share price (though there may have been large investor pressure to which I am not privy) and got on with running the business. Finally, they really ought to move to the main market as AIM is not trusted by so many investors, private or institutional. All in my opinion - the management run an oil company, not something I have on my CV. |
Posted at 22/2/2013 11:31 by ed 123 The answer is, of course, that they could give an update, without compromising any negotiations. For instance there is production information available from Enquest and Antrim that VPP could rns.The problem I have is that the private investors are probably the only group outside of the information loop. The directors of VPP, the parties they are talking to and the major shareholders will all be insiders to what is going on. Being outside the loop, though, can have its advantages. The directors of VPP went in the market and bought shares at various prices above the current level (344p). Perhaps they would be buying now, if regulation permitted? I have been buying on the way down and I'm keeping some powder dry to buy at under 300p. For the past 3 weeks (ie. after the Fionn drop) the share price has been falling at about 10p per week. If it takes more than another 4 weeks to get the review result out, then I could be in for more of these in the 290's. I recall my buying shares in Nautical Petroleum down to about 270p, then smiling when the 450p recommended offer was announced. Maybe I'll be lucky again? |
Posted at 12/2/2013 21:21 by hpcg I'd have to say as a very recent investor I'd take the 5.30 if offered - too much gain in too short a time.On a more positive note for VPP as an independent company in the AEY oilbarrel presentation Stephen Greer said that the Fionn cost overrun is a projection from Causeway experience, not an actuality. He could just be being kind of course. |
Posted at 03/2/2013 12:34 by ed 123 It's true that Antrim do have a 'poison pill' capability. However, it is worthless, imho. The idea is, in the event of a perceived hostile shareholding building up, Antrim gives new shares (free of charge) to the non-hostile shareholders, and thereby dilute down the hostile group's holding.However, 1) It may not be legal, if challenged in a court of law. 2) It would be totally ineffective in the case where a bid for all the shares in Antrim were to be submitted. Call me cynical if you like, but my view on the poison pill is that it is management's way of telling the industry that they will fight hard to hang onto their jobs. It is sold to Antrim's shareholders as protecting their investment against a low takeover bid. But, whom has it really helped? The management have retained their well-paid jobs and the share price is now around 35p - ie. more or less where it was 10 years ago. I'm not at all anti-Antrim, nor anti-Valiant, for that matter; I am a shareholder in both Antrim and Valiant. What I want is for private investors to be treated as the part owners of the businesses that they actually are. Coming down off my soapbox, the directors of Antrim Energy hold around 1.85% of the shares, whereas Hedgehog hold around 25.49%. Clearly if Hedgehog want a combination with Valiant (or anyone else) then that has a good chance of happening. I should add that any link with Antrim is only speculation on my part. The combination has some appeal to me. Antrim needs to avoid a cash shortage in developing Fyne, hence walking away from Fionn. Valiant could provide the cash needed to develop Fyne comfortably, and the combination would not have all of its eggs in the Fyne basket. For Valiant, Antrim's share of Causeway and CE would give Valiant an immediate increase in revenue. Then, in two years or so, Valiant would get an extra 11,000 bopd from Fyne. Also, Antrim's exloration licences look interesting and offer more geographical/politic I've had no reply to my email. If there's no reply and no update in the morning I'll phone Valiant. I don't want to be told anything sensitive, but I do want the market (ie. private investors) to be kept properly informed. I think we're all agreed that there's more value in Valiant than its current market cap. We'll see what the non-execs come up with. |
Posted at 18/1/2013 16:34 by hpcg Managed to pick up some more at a gnats nut over 400 today, thanks to mr or mrs seller. There are people starting to talk up oil, which can go either way for juniors if there is a high spike, but good strength over 100 and producers like Valiant are sitting pretty.The other thing which the company really should do is move to the main market. There is no excuse for a strongly revenue generating company without a main listing overseas to remain on AIM. This co is much larger than most small caps. It might cost some VC trust holdings but it would put the company on the list of some institutions which simply aren't allowed to own AIM shares. Then there is the ISA advantage for PIs which in its own small way opens up the company to more investors. Yes there is a higher cost but that is trivial in comparison with gains for shareholders. |
Posted at 05/12/2012 23:01 by mcdougall1 See Valiant have also been awarded new blocks off Iceland, just like FPM. Except Faroe seem to be happy to issue an RNS to inform investors..... |
Posted at 15/11/2012 12:45 by tipjunkie Strange goings on at Valiant Petroleum. Block Valiant Petroleum PLC (VPP:LSE): Last: 435.75, down 14.25 (-3.17%), High: 455.00, Low: 435.25, Volume: 206.70k Block PM What's the story? So CEO Peter Buchanan steps aside to work on an MBO. Having effectively put the company up for sale with a "strategic review" two months ago I guess the fact that he's taking the MBO route suggests buyers were thin on the ground. Certainly does Buchanan's background's financial rather than oily, I think. Somehow doubt investors will see the 750p a share this thing floated for in 2008. We think he has access to funding? Well, he's connected. So, possibly. But it's certainly a different proposal to putting the thing on the block. Not sure anyone follows this closely. Let me check. Just a holder comment from Oriel, which I think is shop. Valiant Petroleum has announced the appointment of Michael Bonte-Friedheim as Acting CEO in order to allow Peter Buchanan, Valiant's founder and CEO, to focus on a buyout proposal that will be considered alongside other options as part of the ongoing strategic review and formal sale process. The Board is now considering a number of different proposals, including corporate transactions and standalone organic growth alternatives. A buyout involving Peter Buchanan is one of the proposals that has emerged for consideration. The Board has agreed with Peter Buchanan that he should focus exclusively on the delivery of this proposal. As Acting CEO, Mike will lead the evaluation of all of the alternatives being considered in the strategic review and formal sale process. Mike joined the board of Valiant in 2006 and is currently the senior independent non-executive director. Following a career in investment banking in the energy and power sector, he has spent the last six years in a number of roles including as Chairman and subsequently interim CEO of Mediterranean Oil & Gas. And one sentence from Sector Watcher. Block BE The assets certainly look underpriced, our risked NAV is 560p/share (unrisked 950p), 25% above the current price |
Posted at 24/8/2012 10:32 by ed 123 Hi utrecht_00.Good point about the change of accountants. That's probably the reason. The ipo at 750p could be an issue for some of the original investors. A normal bid premium probably wouldn't get them their money back. Causeway first oil could see you positive. I'm planning to hold on here. Thinking this will run on past 500p. |
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