Fastnet Equity Share Discussion Threads

[papillon] 06/4/2016 19:28

"No buys today, just sells, so no evidence you could actually buy them at 2.95p"

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Sorry, buffy, you are wrong. You are falling into the novice trap of believing the buy and sell data issued by advfn and the other financial web sites as gospel. Basically they assume every trade reported below the mid price of the bid and offer spread to be a sell. Whilst that is normally the case it wasn't so in the case of FAST today where it was possible to buy below the mid price. Hence not all of the sells recorded today by advfn were sells; some were, in fact, buys. If you had done dummy buys and sells today you would have seen it was, in fact, possible to buy below the mid price.

[panic investor] 06/4/2016 18:10

I added around 7.5k worth today

[buffythebuffoon] 06/4/2016 14:11

ali47fish,

As I've said previously, people often complain when they've been excluded from something, such as a placing. If you are a fairly small investor it often doesn't matter. If you can buy in the market at below the placing price, why not? You won't get many I imagine, but that may be enough for you.

EDIT No buys today, just sells, so no evidence you could actually buy them at 2.95p

Buffy

[ali47fish] 06/4/2016 14:00

i have only asmall holding when it was fastnet. the price has come down to 2.95- is this still an opportunity to buy/ at waht price where the lucky people buying at the placing?

[buffythebuffoon] 06/4/2016 13:54

Fair comment pap as far as UK small oil companies are concerned, which is what you're thinking of. I said production assets though, not companies, and there are a large number in the Permian basin and elsewhere.

Still, my main point was that we put the money into another of Friels interests after, apparently, scanning the globe for opportunities.

Again, as I've said elsewhere, falling in love with a company/director is best avoided.

We're both investors here, so we want the same thing.

Buffy

[jacksonpollack] 06/4/2016 12:49

Sad to see this on the slide. Thought it would move up once suspension lifted.

[papillon] 06/4/2016 12:41

"A shrewd operator with the cash we have, could buy production assets"

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And what would you get in the way of producing assets for £10m, buffy? £10m would probably buy you MAGP (including it's debt). A producing company that couldn't even make a profit when the price of oil was over US$100. You'll be lucky to find a small producer that hasn't debt.

CAD turned away from making a takeover offer for AST recently after the AST BoD wanted too much money. I have a few shares in GED which has more cash than FAST had after selling most of it's Columbian oil assets back in December 2014. It wants to invest in producing assets, but can't find anything suitable because of unrealistic demands by companies. No, CF made the correct, shrewd, decision to get out of O&G when he did.

[bigwavedave] 05/4/2016 20:11

papillon - many thanks for that.

[jacksonpollack] 05/4/2016 19:31

Type, Orphan drugs to become big business, into Google bar and you can get link to the ft report and read it without paying subscription. If it doesn't get your pulse racing about potential here then nothing will.

[buffythebuffoon] 05/4/2016 18:49

Pap,

A shrewd operator with the cash we have, could buy production assets, and at some stage there will be exponential growth in the share price I'm not saying we won't do well with AMYT, we may, I'm saying that I am not confident that all opportunities were assessed with the same eye.

Buffy

[buffythebuffoon] 05/4/2016 18:47

There's an Irish mafia JP. In oil and gas alone there is a large number of small oil companies. Off the top of my head, I've been in four of them at some stage (PCI/AEX/COP/FAST), but there are quite a number of others.

I won't bother reading the Irish Times article. Friel is involved with Amryt. It's quite a coincidence that the extensive search for a home for the FAST cash, lasting many months, should find it's way to another of his companies.

Buffy

[papillon] 05/4/2016 18:22

Why shouldn't it be healthy, JP? CF was shrewd enough to see that the future for oil minnows was bleak when the oil price crashed back in November 2014. He was shrewd enough to re-position FAST as a biotech company.

[jacksonpollack] 05/4/2016 17:56

Cathal is or was involved with Fastnet oil and gas, fastnet equity, fastnet hydrocarbons, pathfinder hydrocarbons, raglan, amryt. Is it healthy for the same person to have such influence over this spider web of inter mingled companies? Not saying he is dong anything wrong. Just asking the question

[soul limbo] 05/4/2016 17:52

Cantillon: Fastnet chief explains switch to pharma




snippet :

Why pharma? “Our feeling was that investing in a pharma company was one of the few market opportunities where a prospective investor might get the potential to generate a multiple uplift in share appreciation much like a successful oil exploration campaign can generate.”

According to Friel, the Amryt team “believe they can transform Fastnet and potentially build it into one of Europe’s fastest growing orphan drug companies”. It has already acquired German pharma company, Birken and Sompharma in Switzerland.

“Many of this peer group of companies with approved drugs already have market caps approaching a billion dollars, thus I feel confident that Fastnet is on the right track to success,” Friel gushed.

[bazworth] 05/4/2016 17:43

I would think that the new entity that holds to O&G assets will have access to the share register i.e. a list of the shareholders and their interests when the change happened.

[jacksonpollack] 05/4/2016 17:12

Anyone know what happens or how it works re the oil and gas investments held in a seperate account. If they are sold in the future how are those who had shares in fastnet when it was oil and gas going to benefit from it as fastnet and its share base no longer exists?

[papillon] 05/4/2016 15:19

BWD. The following is from:

It applies to the shares of America companies, but is equally applicable in this case.

"Stock[edit]

Par value stock has no relation to market value and, as a concept, is somewhat archaic. The par value of a share of stock is the value stated in the corporate charter below which shares of that class cannot be sold upon initial offering; the issuing company promises not to issue further shares below par value, so investors can be confident that no one else will receive a more favorable issue price. Thus, par value is the nominal value of a security which is determined by the issuing company to be its minimum price. This was far more important in unregulated equity markets than in the regulated markets that exist today, where a stock issuance prices must usually be published. The par value of stock remains unchanged in a bonus stock issue but it changes in a stock split.

Par value also has accounting purposes. It allows the company to put a de minimis value for the stock on the company's financial statement"

[bigwavedave] 05/4/2016 13:21

sea7: many thanks for explanation. I always had the 3p/24p figure in mind so was surprised to see 3.8/30p. Anyway, all my votes cast. Maybe a little more news after the Amryt presentation tomorrow.

[sea7] 05/4/2016 13:11

BWD, nope 0.038 is the par value of the shares. It has no bearing on the share price and is also the lowest value that the company can issue shares.

The new shares look like having a par value of 1p. No bearing on the 24p placing price and expected start price on the 19th april. 1p will be the lowest price they can issue shares at, without reducing it further through capital reorganisation.

Historically it was the figure shown on share certificates and was there to ensure that investors could be assured that no one else was getting a more favourable price at the initial offering. Not really used much these days, apart from some accounting use.

In todays more regulated markets prices are published, so par value is less important.

[papillon] 05/4/2016 12:13

I have this vision (not a nice one!) of JacksonPollack saying to Mrs JP, lets have an early night love and after 10 seconds of "action" saying to his wife, "this is so BORING" and going back downstairs to watch something equally boring on the TV.

[papillon] 05/4/2016 12:08

tipster1? Another pumper and dumper!!