Equator Exploration Share Discussion Threads

[2lb] 13/12/2016 16:33

That's harsh on dogs - Genel is more like road kill and should be avoided at all costs.

The last thing EEL holders need is another car crash stock being touted on this board from a "good samaritan EEL shareholder"

[jasonoranged] 13/12/2016 16:30

GENEL is a dog.

Cheers.

[geordieduke2] 10/12/2016 13:20

I think we can be sure that some shareholders will do ok out of EEL, Oando for one.

[wantmorethan24p] 08/12/2016 12:06

off topic check out GENEL ENERGY...

have been buying between 76p-104p.
its fallen from 1000p

[wantmorethan24p] 06/12/2016 17:06

sorry was meant to be posting on Genel thread.

[wantmorethan24p] 06/12/2016 16:57

wiped out by BONDHOLDERS



Xcite Energy (XEL) the drowning in debt North Sea wannabee has announced that bondholders are to meet on June 30th - the day the $139 million bonds were due to be repaid - to agree to a rollover. But there is an admission, and for shareholders it meets get out the vaseline...you are going to get shafted badly. Its now official.

Firstly the bondholders are going to charge cash as a condition for not pulling the plug at once. Given that cash is now c$9 million and falling fast ( it was c$20 million at December 31 2015) this is going to be an issue soonish. XCite, if it is not bust, will have to do a placing sharpish.

Second the company cannot repay its bonds so we are told:

As announced in our full year results for the ended 31 December 2015 on 21 March 2016, the Company has been in discussions with its principal Bondholders with respect to a potential restructuring of the Bonds. While those negotiations have been constructive, no terms have yet been agreed. However, should agreement on the terms of a restructuring be reached, it is likely that these will involve a reduction to the balance of the Bonds in return for an equity stake in the Company.

Hmmm. The bonds oustanding are $139 million and the market cap at 10p is £31 million ( shall we call that $45 million). If there is a "reduction" in the sums outstanding it strikes me that XCite shareholders will be giving away the vast bulk of their company.

Then it will need a rescue refinancing. Oh dear...this is going to be painful. We have warned you repeatedly to sell but it is not too late, this equity is almost worthless and at 10p you either bail now or you know what you need to go buy. If you dont Justine Frischmann and comrades can spell it out for you

- See more at: hxxp://www.shareprophets.com/views/21499/xcite-energy-admits-shareholders-will-get-totally-rogered-by-bond-holders-justine-tell-the-morons-what-to-buy#sthash.n35SxLn0.dpuf

[wantmorethan24p] 06/12/2016 16:35

did the bondholders here get all their monies back?
am investigating it seems to me that Bondholders always win at shareholders expence..


look at


XEL
GKP

shafted by Bondholders.

[geordieduke2] 19/11/2016 10:22

Just another 2 years to hold out folks. Remember the good old days when we only had to wait 2 months?

[digger2779] 18/11/2016 15:01

Exile - Bleak House has opened it's doors to us :)

[exile] 18/11/2016 13:43

Where is the EEL minority shareholders Christmas Party being held this year ?

[2lb] 18/11/2016 08:29

We're not suspended, we are delisted and now in the hands of a private organisation who don't give a toss about us and can make up their own rules.

[hope67] 17/11/2016 22:14

Hi all how many years have we been suspended now? I have lost count.

[wantmorethan24p] 16/11/2016 15:49

MR K ..

get UKIP on the case.

[roadkill2] 09/11/2016 23:49

Cheers Mr K!

[jeaniehow] 09/11/2016 23:29

Thank you Mr K

[mrkeysersoze] 09/11/2016 23:04

Further interest within the Sao Tome EEZ blocks, as Galp increases its footprint. Galp will now become a partner in blocks 5 & 12 with both Equator & Kosmos, subject to ANP approval, prior to the commencement of a four block Seismic program due to start Q1 2017.http://www.galpenergia.com/EN/investidor/Noticias/Paginas/SaoTomeandPrincipe_extension.aspxMr K.

[geordieduke2] 24/10/2016 23:36

But if/when the price rises Oando will then ditch the minorities. It would be easy to do, have a rights issue and minorities diluted out of existence. Until then it doesn't matter and simply replay the annual conf call. Either way the minorities end up with the same, nothing.

[gpmh1] 22/10/2016 21:06

The reality is, the price of oil tanked from circa $110 per barrel in July 2014 to circa $26 per barrel in May 2015 the seriously screwed-up EVERY Oil Company's finances...and forward business models & plans. However, with oil prices recovering & with KOSMOS 3D seismic plans Q1 next year, this board may get a little busier over the next months...

Regards,
Gpmh1

[geordieduke2] 22/10/2016 19:51

Errr it's 2016 and we were told to wait a couple of years. Perhaps everyone is quiet because they're trying to find some more cash to invest now that we've seen those jars of real oil, that prove beyond doubt this wasn't a con and all we have to wait the 2 years. Trust in Pade, he's a nice compassionate guy and as we can see it about to come good...in a couple of years.

[2lb] 21/10/2016 16:44

We are all here and all turned off until 2017 when it might be worth having a glace at what's going on here.

[paulie1] 20/10/2016 22:31

anyone left? and thanks Mr K