Encore Oil Share Discussion Threads

[n3tleylucas] 26/11/2011 19:22

shove a bit in pvr and bem ...

[lanaken] 26/11/2011 19:18

Buffy,

I have some analysts' notes that you might want to see. If you do, email me on TMF.

I added a few in the low 70's after reading them;-)

repo

[buffythebuffoon] 26/11/2011 19:14

Hi repo,

Having got into SOU after the Consul deal was announced I started reading the SOU board. I think it was there that CNF mentioned AEY. After DMOR it became clear that they were a potential multibagger.

I too got out of EO. (at 72p). Your very interesting posts on the size of the Argie oil shale convinced me to take a larger position; albeit at 74p

Buffy

[lanaken] 26/11/2011 18:56

buffy,

Yep I agree and a good chunk of my Encore money sold at 72-3 went in there at 53-57p.

Fyne resembles Catcher in may ways and has a mighty fine thread on ADVFN too;-) See the head posts and the recent ones on Argie shale.. The Argie shale looks like a potential 150m layer of rich cream on a luscious thick dark cake to me. DYOR.

A strong PMO connection too. If they get blown out of the water on this one, AEY look next up and if they don't, AEY look next up, next year.

Message to AEY board. Don't get short on funds. Not that they will because the cashflow and explo look terrific;-)

My views are summarised at the start of this thread. CNF likes 'em too.



repo

[buffythebuffoon] 26/11/2011 18:31

Hi CNF,

What's the difference in 74p now or £1.20+ later as PMO develop these and their own assets.

IMO, if you put the money into AEY now at 74p you'd see more than £1.20 over a similar timescale. Don't you agree?

Buffy

[n3tleylucas] 26/11/2011 13:26

RBCRBC,
It was announced on 2 March 2006 that the Offers (the "Offers") by Westhouse Securities LLP on behalf of Oil Quest Resources plc for the whole of the issued share capital of EnCore Exploration ("EEL") and EnCore Petroleum ("EPL") were unconditional in all respects. On 3 March 2006, the Company changed its name to EnCore Oil plc.
lol ... about 30p bud ... give or take ... bit complex ... call it 30p??? dunno?

[captainnelsonforties] 26/11/2011 12:32

Well I've informed my broker to vote yes and to accept PMO paper which in itself is exceptional value at present, let alone with Encore as part of the ever growing beast. I'm quite happy with the PMO deal of couse it could have been higher and clearly I'd vote in favour of more PMO paper. What's the difference in 74p now or £1.20+ later as PMO develop these and their own assets.

Captain Nelson Forties

[lanaken] 26/11/2011 12:26

whackford,

Following the IC is rarely the path to great wealth. In fact doing the exact opposite has served many people well over the years.

They have consistently displayed alack of knowledge of the oil and gas scetor over the years.

My reccomendation

Investor's Chronicle IC London Can't Recommend A Purchase;-)

repo

[rbcrbc] 26/11/2011 12:15

Can anyone remember what the launch price and date were for EO. ?

[idleduck] 26/11/2011 10:14

Brewin Dolphin have put out their letter

It sets a decision-making (on my part) deadline of December 23

As for Booth, is he really that good as an explorer ... decent, yes; incredible ... not so sure? Look at Ashley Heppenstall of Lundin ... now he does deserve the description "incredible", given the boldness of the Avaldsnes discovery and the strategy that lies behind

Booth's tactic of being a pure-play explorer has turned out to be dangerously nshort-sighted as it left Encore unable to ride the storm which, lets face it, started with the 2008 credit crunch, not withstanding that year's oil price peak of near $150 a barrel

Others like Faroe and Atlantic were much smarter in that they moved quite rapidly to ensure a regular income; something that neither had in their early life

I see that relative newcomer Iona has started out making damned sure that it has equity production from day one whilst also developing an exploration strategy

Endeavour has made damned sure too that it has production to fund its exploration, even though they had raised more than $70million on the TSX

Booth is unlikely to repeat the Encore model, IMO

[guesswhosback] 26/11/2011 09:24

Mr Booth will be judged on the price of this Company upon sale not upon his incredible record for finding oil. He has either rolled over or its his final clever card.... we will see.

[whackford] 26/11/2011 08:29

Regarding the prposed takeover, I note that yesterday's Investors Chronicle recommends "sit tight" (page 65). I will see what they say next Friday (2 Dec.)before making my decision.

[n3tleylucas] 25/11/2011 21:37

leeds,
this will be 40p if PMO fail ...

[wbodger] 25/11/2011 21:31

chessman, I can't speak for other shareholders who might have been polled but you're wrong about sizable holdings. I'm just a long holder since 2006/7. Wb (sadly not related to Warren Buffett, lol)

[hickling] 25/11/2011 19:09

Hold shares in Nominee account with Sippdeal. Contacted them by secure message on their website to say that I would like to vot my shares against the S R. They have accepted this without question or charge.

[chessman2] 25/11/2011 18:12

I'm still waiting for my phone call but as my holding is split 6 ways they may not bother. I'm sure they only contact people with sizeable holdings.

FWIW I think PMO will make an ordinary bid of 80+ p if they do not reach the 75% passmark required.

My only concern is that as AB normally knows what he is doing, perhaps I should follow him blindly. At present I am voting 'no'.

[wbodger] 25/11/2011 17:35

leedskier, re 43300, no not sold out but I worked out how many PMO I wanted to keep and sold down to it on Monday. I won't vote my remaining shares in favour, but I acted defensively because I never wanted all my Encore shares converted anyway.

It's not over, but until someone expresses a competing interest it looks bleak.

[leedskier] 25/11/2011 15:57

The ability of the company to compel shareholders
(and particularly nominee shareholders) to disclose
the parties beneficially interested in their holdings
is also a matter of local law. The UK company
regime (formerly section 212 of the Companies Act
1985, now section 793 of the Companies Act
2006) empowers public companies to demand that
shareholders disclose this information. The local
law of other jurisdictions may not contain similar
provisions.

[wbodger] 25/11/2011 15:31

One line to add to louke's post: I also contacted Encore and received substantially the same response from Yvonne Fraser but she included this: " ... [Georgeson] ... have received the shareholder details from the nominee account providers via s793 requests ...".

I know nothing about s793. Does anyone else? It looks above board, anyway.

[fangorn2] 25/11/2011 15:28

I'm holding these with TDW,and with HL(Sipp side).

Am currently away in Devon so wondering how many phone calls I will have on my answering machine when I get back!

[jimbob] 25/11/2011 15:05

I just got called asking how i was going to vote

[leedskier] 25/11/2011 14:55

Given their website warns about the dangers of unsolicited calls from boiler rooms about shares, all a bit dodgy.

[louke] 25/11/2011 14:48

E-mail from Encore :
"Regarding the phone call you received, Georgeson are a proxy solicitation company who are phoning all of our shareholders (institutions as well as PIs) to make sure they are aware of the offer and aware that they are allowed to, and know how to, vote. This is very common to employ a company of this sort when an offer for a company is being done by a scheme of arrangement (as the EnCore / Premier one is) and not a straight takeover, as the Court has to have evidence that a reasonable number of shareholders have voted...

[leedskier] 25/11/2011 14:43

c&c ... BLVN sold 77.5m shares a few weeks ago for over £1. It has oil and now lots of cash. That didn't stop its share price being massaged down to 62p this morning. Make no mistake, without the offer from PMO, EO. would be a lot cheaper than it is now.