Encore Oil Share Discussion Threads

[lanaken] 11/1/2012 10:52

Well it's goodnight from me;-)

Hoping to see some of you on the NPE, AEY, PMO, SLG and other threads. Similar results to those achieved on Encore on a few of them will do quite nicely thanks.

repo

[fangorn2] 11/1/2012 10:37

Indeed, it has been a long and rewarding journey. Just a pity we didn't get to sell out at the highs(circa 150p/sh before the NS tax/financial doldrum inspired sell off)

Into PMO myself.Hoping for a significant rerating there and/or eventual takeover.

[cashandcard] 11/1/2012 10:00

Goodluck to new endeavours people. Been here since the 2007. Had a good time, made quite a bit of money, learnt alot. Will see some of you on the PMO and AEY threads.


Cash

[typhoon] 11/1/2012 08:52

Thank you AB thank you Encore, as you say Curry in hindsight we could have made a lot more but very happy with our profit and hopeful of more with PMO!
Adios

[portland bill] 11/1/2012 08:41

Have you considered WSX? Small share in massive TLW find off French Guiana.
Prospects close to home near Wytch Farm. Territory off Mozambique where many others are gathering.

[currypasty] 10/1/2012 21:09

you can say that again ! We made some money on encore, but could have made a whole lot more, if just got timing right.
move on now, and look for the next encore ?

[guesswhosback] 10/1/2012 20:23

I guess we ended up nearer 80p than 70p, providing you took the share option or cashed up. Still not the best deal of all time but the chance to benefit through PMO at a later date.

Had some good and bad times here with Curry, Chelsea and Del over the years and more recently repo and CNF. Won a lot, lost it all and then managed to get some back again. I once held 2m shares in Encore!! Met the Encore team a few times and enjoyed a few nights in London.

Always respected our leader and his team but wonder if he ever respected us punters. He almost spoke to us as a necessity rather than a pleasure. His RNS were sometimes, I felt, deliberately awkward.

I still think they could have done better and I judge Boothy on that now. He always seemed to be cleverer than the others yet in my opinion he got it wrong at the end. Unlucky? yes probably.

I get the impression that PMO exploration team are nowhere near as bright as Encore, so they will be a useful addition, especially with the new finds with AEY in GFA. They look similar in the Tay.

On that basis I will follow AEY as my new Encore and hope that they get re-rated soon. They have production income, which is on the increase, something encore didn't want. I guess that was a mistake.

Good luck.

[alexx] 10/1/2012 15:56

yes, I've closed now, silly to take a risk for such a small additional profit, still feeling stupid as yesterday I was sure it would fall but going short just didn't enter my head. Silly as sometimes I do short things.

[lanaken] 10/1/2012 15:40

Well sorted now. Close your shorts and don't worry about it.

repo

[geordy2] 10/1/2012 14:31

Hi

How would you show the paper offer in the portfolio.

What would be the selling price of EO and the buying price of PMO ?

TIA

graham

[obmuj] 10/1/2012 13:40

LS - good idea. Now why didn't I think of that! ;)

[leedskier] 10/1/2012 13:09

alun the shorts have to close before the deadline date otherwise they have to hand over PMO shares when covering.

[leedskier] 10/1/2012 13:07

I actually created a new portfolio of all my shares yesterday morning to permit that, without having to delete my existing portfolio which I will use just for reference for trading history.

[alunmorris] 10/1/2012 13:07

Wouldn't a short position risk being swapped into PMO at the 0.2067 ratio?

[obmuj] 10/1/2012 13:03

PS: I have always had a problem with portfolio here on ADVFN as selling part of one's shares never really gives the correct average figures for CGT when considering the 1 day, 30 day and over CGT rules - or am I missing something again? lol.

[obmuj] 10/1/2012 13:02

leedskier - Hi. I was just about to do the same (ie deleting and replacing with PMO).
I am obviously having a "moment" here but probably like most people I have a portfolio to obviously show all buys and sells and hopefully see the profit.I was about to SELL and BUY back PMO but it would distort the portfolio as obviously at the point of Selling EO.it will show a profit or loss (loss in my case). If I delete the transactions then the history is lost.
Ok, I am obviously missing something but what is the best way to "transfer" from one to the other (from a portfolio point of view)?

[leedskier] 10/1/2012 12:46

Market does the same with nil paids in rights issues at this stage in the proceedings ...

Explains why even as late as this morning short positions were being declared.

Money for jam!

[alexx] 10/1/2012 12:37

lanakin
you've made me feel really stupid for not going short yeterday.

[leedskier] 10/1/2012 12:36

;) quite ... I have deleted EO. in my portfolio and substituted the relevant number of PMO shares. It reads much better.

[lanaken] 10/1/2012 12:18

Yep this is going back down to 70p, or very close, because that is what it'll be worth for those holding, who've not taken the PMO shares option.

Easy money for a short?

repo

[alexx] 10/1/2012 12:10

I was surprised yesterday that the EO. price remained so far above 70p so close to the deadline of acquiring PMO shares. For the average punter it was already too late to apply for PMO so he would surely sell at 80p. Today it's happening. No more people left trying to buy EO. to get into PMO on the cheap.

PMO equivalent to 82p on EO. as I write this.


,

[leedskier] 10/1/2012 07:19

Court hearing to sanction the Scheme 11 January 2012
Latest time to elect for Share Alternative, i.e. receipt of Form of
Election or submission of a valid TTE instruction on CREST
1.00 p.m. on 11 January 2012
Latest time for withdrawal of Form of Election or submission of a
valid TTE instruction on CREST
1.00 p.m. on 11 January 2012
Last day of dealings in, and for registration of transfers of,
EnCore Shares
12 January 2012
Reduction Record Time 6.00 p.m. on 12 January 2012
Suspension of admission of, and dealings, settlement and transfers
in, EnCore Shares
by 7.30 a.m. on 13 January 2012
Court hearing to confirm Reduction of Capital 13 January 2012
Effective Date of the Scheme 16 January 2012
Cancellation of admission of EnCore Shares to trading on AIM by 8.00 a.m. on 17 January 2012
New Premier Shares issued, listed and credited to CREST
accounts
by 8.00 a.m. on 17 January 2012
Commencement of dealings in New Premier Shares on the London
Stock Exchange
by 8.00 a.m. on 17 January 2012
Latest date for despatch of cheques in respect of cash consideration
and share certificates in respect of the New Premier Shares in
relation to valid elections for the Share Alternative (as
appropriate) due under the Scheme
by 30 January 2012

[vraic] 09/1/2012 19:39

Last full week of trading EO , not seen this 80p+ level since May 2011.As a long term holder of EO I want to thank the board of EO for doing a great job.
I was one of the few on here who were also holders of Edinburgh Oil [EDG]which
had an interest in Buzzard and thanks to AB and his team had a superb find which made EDG holders a lot of money.So as a PI I say thankyou for both jobs well done.
I have since the bid followed closely the 8.3% files.Here we hear about those
with 1% or more of EO and PMO I will update on this on the PMO ADVFN board
next week when the deal is done and we revert to the institutions updating
when they are 5% rather than the current 1%
PMO end of next week has update after deal is done, I think we can expect lots
of figures and news, confirmation of current daily production 50,000 bopd?++
Confirmation of Cladhan interest sale for £35million cash and update on current and near future drilling in North Sea.
DYOR

[cashandcard] 09/1/2012 10:09

With EO. shares taken from some accounts already, the pool of shares from which late entrants can buy into EO. (for the PMO deal) becomes ever smaller. Those still holding EO. will be able to sell at a very good price - EO. is a sellers market.



Cash

[golcheja] 09/1/2012 09:57

using Barclays, I can see my conversion (to PMO) allocation which is seperate from the amount af shares which I can still trade...
Sold my residual this Morning @ 81.5p