Antrim Egy Share Discussion Threads

[fireplace22] 22/1/2016 13:50

This share has traded below cash for an age now, it is perceived (and in my view, correctly) that the directors principle aim is to secure their positions and salaries for the foreseeable. The have said or done nothing to contradict my opinion. No newby investor with fresh money invested is likely to change that viewpoint for most contributors to this board. Unless of course he/she claims to inside information privy to the boardroom?
This was valued at £3-4 in 2007, what an indictment of management performance! Is this the peak referred to in the earlier post? Then it's taken those investors a long time to realise their mistake. Or if not which particular peak are today's sellers selling down from?

[wigwammer] 22/1/2016 11:10

Sgw,The value of sound oil shares was 11p during the offer period, and 16p now. Perhaps you can explain therefore how 2.2p of shares could now be worth 5p+?I am sure you were filling your boots with sound oil shares at the time. The reason the shares trade at a 75% discount to cash is because the same naive investors who bought near the peak, are dumping at the lows, regardless of the discount to cash.

[seangwhite] 22/1/2016 09:40

WigThe offer from Sound would be worth over 5p to AEY holders today.The 75% discount to this the current AEY share price sits at reflects the markets view on its prospects.If the BOD just sit and wait the cash funds will go and who would want tax losses in an industry awash with such 'assets'.

[wigwammer] 21/1/2016 17:16

Fireplace - they've been right to wait.

[wigwammer] 21/1/2016 17:13

Seangwhite - my understanding is the offer was nil premium, ie circa 2.2p, in sound oil shares.I have no doubt that the finger pointers here would have had a field day with that one.. selling a business with 4p+ cash for 2.2p worth of shares.

[fireplace22] 21/1/2016 13:58

They are waiting for the right opportunity to invest and waiting and waiting and waiting...

Principal asset here is not the cash but its tax losses which would be worth a small fortune under the right circumstance to an acquirer of if we bought into producing assets.

[the_sage1] 21/1/2016 10:41

Can anyone explain why this near dormant company has over $11.2m (£7.75m) in cash sitting in the bank.

With 175m shares in issue that is worth 4.4p alone.

Surely there should be a capital distribution.

I see the near comatose board are pocketing nearly $1m per annum.

Share price 1.4p = cash worth 4.4p does not equate.

[seangwhite] 21/1/2016 09:32

WigThe Sound deal made sense for both parties the only ones to face a loss were the BOD who would be without a decent paycheck for no real work.Let's see what the boys have done in the last year Robeson the pay.VGLTA

[wigwammer] 20/1/2016 20:38

Linton - I suspect the main cause of your losses was the not-so-fantastic decision to punt on a small oil play just before an oil price collapse.Controversial I know. As an impartial investor looking in it seems they made the right decision to flog the UK assets, and had a reasonable expectation of monetising the other assets prior to the recent collapse. Under the new environment it isn't clear at all what they will do. Time will tell. But from an impartial pov it appears they have played a reasonable game given the hand passed to them.Sorry if that means the finger has to point elsewhere.

[fireplace22] 20/1/2016 18:43

Why not! They've got to do something with their time!

[linton78] 20/1/2016 18:41

Sorry I forgot the BOD are fantastic!

Do we have a board member posting here?!

[wigwammer] 20/1/2016 17:03

I'll take that as a yes. Seangwhite was buying oil assets at peak prices, while the bod here were selling.The reason the shares trade at 30% cash is because the same bright sparks that bought the shares at peak prices, now think it's a great idea to dump them at a fraction of cash.Unfortunately, they don't have to justify their decisions to anyone other than themselves. Which usually means they'll look to point the finger elsewhere.

[seangwhite] 20/1/2016 16:53

Amazing performance by the BOD in that the Company cannot even justify its cash asset valuation.VGLTA

[wigwammer] 20/1/2016 00:09

Thanks for conceding they sold the UK assets at the peak price. Were you buying oil assets at peak oil, seangwhite?

[seangwhite] 19/1/2016 12:27

They have done nothing but draw salaries ever since the asset sale.The rejection of Sound Oil offer last year looks a bit of a mistake with hindsight.VGLTA

[wigwammer] 19/1/2016 12:09

Didn't these guys flog the uk assets at peak oil prices?Terrible terrible boo hoooo..

[fireplace22] 14/1/2016 15:08

its a tough life being an AEY director, just how do they spend all that leisure time, must be a worry!

[linton78] 14/1/2016 14:18

Feet up on the desk in Canada..... usual quarterly update being drafted with vague M&A bs.........

[comedy] 08/1/2016 08:45

well just seen this been mentioned for a while...taken a stake.

[costax1654x] 06/1/2016 19:49

Didn't Mr Levi spend 16 yr in jail??good Ceo on this company

[linton78] 06/1/2016 10:05

Likely to be the 3 new investors raising their holdings?

[investment dave] 06/1/2016 08:05

It's the amount of buys which is noticeable

[seangwhite] 05/1/2016 22:24

Let's face it £15+k hardly counts when one looks at the salaries of the BOD.VGLTA

[linton78] 05/1/2016 17:00

a few buys going through this afternoon....