Addax Petroleum Share Discussion Threads

[bluepill] 15/6/2009 13:00

Sinopec's Huang said it "isn't clear" if the company's state-owned parent is making a bid. He spoke by telephone from Beijing

I think you mean hasn't, not isn't

Chinese notoriously private about things until last minute and won't be too pleased about sunday times leak

[malkiel] 15/6/2009 11:59

China Petroleum Isn't Bidding for Addax, Huang Says

[bluepill] 15/6/2009 10:24

Yes, undervalued. Hopefully bidding war will ensue. Looking for news when Toronto opens up.

[arcadian] 15/6/2009 10:23

Am I right in thinking that for £4.5b The Chinese would get all the P2 at c.$10pb and that the massive P3 in Kurdistan would be thrown in for free?

[diggsy] 15/6/2009 09:53

Maybe the bid RNS will come on the toronto opening?

[bluepill] 15/6/2009 09:43

where's rns confirming the bid?
Sunday times seemed pretty cetain a bid had already been tabled

[bluepill] 15/6/2009 08:33

More press coverage

[leeson31] 15/6/2009 08:31

i can see it hitting c$48 today...

[bluepill] 15/6/2009 08:27

Hopefully it will get more interesting when toronto opens up. perhaps rns will be timed to opening over there

[bluepill] 15/6/2009 08:23

i'm in until >£30 at least. almost got there this am. hoping for £34+ if koreans get involved. Could get out of control here

[bluepill] 15/6/2009 08:22

spread killing it off

[leeson31] 15/6/2009 08:14

just 33 shs on the bid, but 2920 to 2930 now

[diggsy] 15/6/2009 08:11

now into open sky...

[leeson31] 15/6/2009 08:11

260p spread lol. but 2660 bid and 2920 offer... thats an all tiem high....

[diggsy] 15/6/2009 08:06

Morning Oilers...great start to the day, we should see some further action this week. Great start to the day.

[leeson31] 15/6/2009 08:01

2760p on the offer...

[leeson31] 15/6/2009 07:28

just a very quiet thread, and most ppl missed the cheap share price also, the spread has always been a downer! lol.

[bluepill] 15/6/2009 00:22

There's more conversation about Addax on the HOIL thread than there is on here.
Is that because no one believes the bid in addax or do they think its oriced in already or have they missed the boat? well the bid is rumoured to be at least £30 per share so that's 25% above current share price. No brainer I reckon

[lukethefool] 14/6/2009 19:53

articles above also in The Times. It'll be interested how this opens on Monday. After everyone has seen the merger of Heritage oil maybe lots of Broadsheet PI's and share clubs will put some money into Addax.

ltf

[leeson31] 14/6/2009 14:37

indeed, why not....

[leeson31] 14/6/2009 13:48

156.54m shs = 3066p at £4.8billion.

come on !!!

:p

almost a classic V shape recovery on the chart, i reckon the previous ATH will be broke soon, circa 2700p

[bluepill] 14/6/2009 13:39

You beat me to it.
Front page of Business section of Sunday Times.

[oilretire] 13/6/2009 23:14

CHINA is stepping up its race to secure access to global oil reserves with an audacious £4.8 billion bid for Addax Petroleum, a London-listed group with fields in Iraqi Kurdistan and Nigeria.

Sinopec, the Chinese state oil group, is understood to have tabled the indicative offer last week, trumping an earlier bid by the Korean National Oil Corporation.