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Real-Time news about Anzon Energy (London Stock Exchange): 0 recent articles
|nickcduk: Around current levels I think shareholders would be much better off just running AEL for cash. The same applies to most of the sector. Why bother with spending money on exploration when the market doesn't afford you a decent rating. If they just used surplus cash to buy back shares the share price would soon shoot up to closer to 200p. Hoping another bidder enters the fray here. A cash offer at about 110p would be enough to win the day. We just seem to end up with crocs who have duff assets which get plugged and abandoned. It is like they desperate for our cashflow to prop up their duff assets.|
|goodgrief: Pleasing progress... (alas not replicated in the share price)...
BMG Project Major Expansion
LOIs signed for New FPSO and Drilling Rig
The Basker Manta Gummy (BMG) Joint Venture (JV) is pleased to announce its intent to move forward on a major expansion of its Oil & Gas Development in the Gippsland Basin (Vic L26, L27 and L 28).|
|smudgeroo: Well there we have it black and white. We always knew this share was undervalued but now it is confirmed by the company.
In respect of the AEL Scheme, AEL and ARC have entered into a Merger
Implementation Deed (AEL MID) to effect the acquisition of AEL by ARC. Under
the terms of the AEL MID, shareholders in AEL will receive ARC shares in
exchange for their AEL shares. As AEL's only material asset is its investment
in AZA, the merger ratio for the AEL Scheme will be set with reference to the
AZA Merger Ratio, adjusted for AEL's net cash position. This implies an AEL Merger Ratio of 2.00 ARC shares for every AEL share which, based on ARC's closing price of A$1.595 on 19 October 2007 and an AUD:GBP exchange rate of
0.4358, values AEL on a fully diluted basis at approximately #178 million or
#1.39 per share.|
|bomfin: Did some research on Arc.
Arc just about to test a well. Potential discovery onshore Canning basin. they have big area there and if this is a discovery could be mega. Also have big interest in bass straight fairly near to Anzon interests and Perth basin interest. Latest presentation states the oil discovery earlier this year could be as big as Roc's Cliff Head field. Also reckon the gas discovery made earlier this year could be commercial.
If they merge takes the discount of having all eggs in one basket out of AEL share price. IMHO DYOR|
|smudgeroo: Yep, looking good again.
Some posters on the Ozzie forums are speculating that any serious bid might come in at A$2.20 and should a bidding war start the share price could be pushed towards A$2.50!
All speculation of course but if a bid did materialise at such prices it would do wonders for the share price of AEL.
At a AZA share price of A$2.20 AEL's 53.1% holding would be valued at £184m or £1.92 per share.
At a AZA share price of A$2.50 AEL's 53.1% holding would be valued at £209m or £2.18 per share.
Still some way to go I think.|
You raise a good point. I would have thought that any announcement confirming the recommencement of production would give the share price of AZA a bit of a boost.
Lets say that AZA's share price remained static at approximately A$1.60 for the immediate future. If the company then announced that production had recommenced then I suspect we will see a wave of new buyers coming into the stock adding fuel to an already we lit fire.
Say this news added another 10% to the AZA share price we would then be looking at a price per share of circa A$1.76. If an offer for AZA were to then emerge, lets say at a 20% premium, we could be looking at a AZA share price of approximately A$2.11.
What does this equate to for AEL?
Well at todays exchange rate AZA at A$2.11 per share would be worth £324m.
AEL's 53.1% share in AZA would therefore be worth £172m! or to put it another way £1.79 per share!
Using the above scenario as an example, it's clear to see that there is still plenty of scope for further gains to be had. Best of luck, I think you will do rather well out of your initial investment.|
|bomfin: Aza down 4 cents in Australia.
Would make sense if Aza and Ael share prices evened out a bit. imho|
|bomfin: I'm not able to deal in Australia and don't know a broker. I know Clydesdale bank is Australian owned.
Re AZA. What would be a reasonable premium to give a take out price and where would that put AEL.
If AZA went for $A 2/share that would give a return of about £160 million to AEL and should be able to put AEL share price towards £1.50 each. imho dyor|
|ed 123: Agree AEL is cheap in the market. With more than one interested party, a bouyant oil market, useful reserves and a share in NXS, it looks likely that an offer for AZA will be made, imho. AEL then makes the decision on AZA's future. A firm offer would allow AEL to separate from AZA and to take (presumably) a large cash sum. Hence, I think if a firm offer is made for AZA, AEL's share price MUST respond strongly.
We could be waiting for a couple of months for further news, who knows? If the eventual news is good, my view is that there has to be a big mark up in AEL's share price.|
I think only the thread originator can put things in the header - is Ianwc still around??
I presume the share price weakness of AEL is due to the convertible bond
I must admit that I don't really understand how these things work but I presume you mean that RAK have been shorting the shares as a hedge against their convertible bond? I know that this is what happened after Soco's convertible issue last year.
In this case, however, I had seen RAK as more of a strategic partner, rather than just an investor/bond holder but I suppose that's not a reason why they wouldn't hedge as well? Err ... I think I'm trying to say that I don't know!
I had just assumed that the AEL share price weakness was following the AZA share price, which in turn had been weak because of E&P being out of fashion, market disinterest in small caps, etc. - but again, I don't really know.
My view is simply that the AEL share price is more than supported by AEL's holding in AZA and I'm trusting that a combination of AEL management and the RAK connection can add some significant value on top of that. So hopefully plenty of upside but not much downside - we just need some time to see whether they can can pull off some good deals.|
Anzon Energy share price data is direct from the London Stock Exchange