Hephaestus Share Discussion Threads

[jay aitch] 06/7/2007 08:46

Still holding. Their in my SIPP so in for long term.

[fredling] 05/7/2007 20:16

sranmal talltalk and Jonno,


Still in this share too.


Vive La France...well a particular part of it!

Fredling

[talltalk] 05/7/2007 09:37

Still in here. Also expect to be here some time. I have kept the paperwork issued from Australia so do not have temptation to sell !!

The longer term story is still intact.

[sranmal] 05/7/2007 07:44

Still here (!) and expect to be for some time.

[jonno1] 05/7/2007 06:29

up another 1% in OZ, anyone else still in these apart from me, waiting for my transfers to go through is currently making me money!

[jonno1] 04/7/2007 07:36

the way my portfolio is looking, mrp afr,rift,etc this could be my best buy!!!!!!!!

[jonno1] 04/7/2007 07:35

European Gas Limited Signals A Major Acquisition Could Be On The Cards
Coal bed methane specialist European Gas Limited (EGL) has entered a funding agreement for �36 million (A$58 million) to help it buy a series of producing gas assets in Europe and for working capital purposes. No further details of the proposed acquisition have been released as ASX-listed EGL is still in the due diligence process and is bound by confidentiality clauses.

The funding agreement involves two tranches of convertible notes, with a three-year term and a base coupon rate of 5 per cent. The notes would convert into 48.5 million shares, almost 19 per cent of the company�s current capital fully diluted. The notes will be secured against the assets and priced at �0.75, or A$1.20, a significant premium to the company�s current share price of just over A$1 a share.

News of the funding agreement and the proposed acquisition, which if it proceeds is expected to complete within three months, came just over a month after EGL was forced by ASX rules to explain recent increases in its share price and traded volumes. The company could give no reason at the end of the May, explaining that it was pursuing its stated objectives of expanding its portfolio of assets in Western Europe and, accordingly, sometimes entered discussions with third parties about potential acquisitions or other opportunities. At that time, however, no such discussions were at an advanced stage to warrant any announcement. That has obviously now changed and investors will be keen to hear more details of the proposed acquisition.

The fact that EGL is investigating producing assets will be welcome news. A steady revenue stream would be a welcome addition to the books as the company works towards bringing its Folschviller and Diebling CBM projects in the Lorraine region of eastern France into pilot production. It would also bring the comfort of diversity: at present, despite holding CBM permits and applications elsewhere in France and Italy, EGL�s fortunes are heavily weighted to the success, or otherwise, of the Lorraine CBM project.

Fortunately, that project does look promising. The 460 sq km Lorraine permit lies on the Franco-German border in what used to be a major coal mining area, producing 850 million tonnes of bituminous coal. Enron spotted the potential here in the mid-1990s, coming up with a gas-in-place number of 7 trillion cubic feet of gas in an area of 680 sq km.

EGL, mindful of its rather more limited resources, started small, focusing its initial efforts on the Saint Avold and Alsting sub-areas, which comprise 68 sq km. These sub-areas, which account for just 7 per cent of the project�s permit and application area, are thought to hold just under 1 tcf of gas. This is a tasty resource and, after it completed its acquisition of former partner Heritage Petroleum earlier this year, EGL holds 100 per cent of the acreage.

Two test wells have been drilled to date, Folschviller St1 and Diebling St1, and EGL describes the results as �highly positive� with the potential to lead to a considerable upgrade of the estimated resource in place. Engineering design work and selection of contractors for a two-well pilot production programme is well advanced, with drilling work expected to get underway this summer. Multi-lateral drilling will ensure each well has maximum exposure to the coal packets, thus improving permeability and increasing production per well, reckoned to be as high as 1 to 2 million cubic feet per day. Seismic work is also planned at both the Folschviller and Diebling sites to help determine a full-scale development, which will target almost 1 tcf of gas.

This is exciting stuff but it comes at a price: multi-lateral wells are a Rolls-Royce engineering solution and are not cheap to drill. If EGL can get some production and cashflows onto the books it will help with the financing of this promising CBM project.

[buffin] 18/6/2007 09:47

There was a fresh valuation thread on Australian bb hotcopper over the weekend. Inevitably the guesses made some heroic assumptions but they may have highlighted the share and led to some buying.

[jonno1] 18/6/2007 09:42

up a little more in OZ, TDW have managed to lose my transfer form so could'nt sell if I wanted...think I will hold anyhow seems to be appreciating nicely, but still cannot find any news, anyone else?

[fredling] 29/5/2007 22:42

Jonno1,

ASX have queried the sudden price movement. EPG don't know why but make reference to continually investigating potential acquisitions but... "there are no investigations or discussions sufficiently advanced or certain to support an announcement".

Interesting!


Fredling

[fredling] 28/5/2007 12:27

Jonno1,


You and me both!

I've tried Eyecatcher on the sharesforum board as he has been a valuable source of info in the past.

Regards,

Fredling

[jonno1] 28/5/2007 07:41

up nearly 15% in OZ, can't find any news....

[rapier686] 18/5/2007 23:28

Don't know Bufin, I haven't paid them any money. Market depth wouldn't be any use to me as my only ASX dealing facility is leaving good for next night limit orders with TDW.

But I did find Stockness's trade list very helpful to prove to TDW that they'd ripped me off the first time I bought some EPG on ASX.

[buffin] 18/5/2007 22:43

Thanks, Rapier. Is that a good place for checking on market depth etc when it's open? (I see it costs.)

[talltalk] 18/5/2007 17:58

Yes Thanks Rapier I've had a look Seems very useful

tt

[rapier686] 18/5/2007 14:40

The other link you want is Aussie news announcements:


Miles better than the asx website.

[talltalk] 18/5/2007 14:27

JONNO

Got mine today also - 11000 shares - Will most likely keep for a while .

The story has not changed since buying Heritage as I see it

There is a bb in Oz called Hotcopper which has a number of posts in order to keep track

tt

[jonno1] 18/5/2007 10:16

talktalk, if you're still interested just got my " Issuer sponsored holding statement" from Australia, these were my selftrade shares, spoke to TD, send it in to them and they will then transfer them into their nominee account, looks like I have a total of 13750...do I sell or keep them, thats the question

[talltalk] 09/5/2007 19:50

Anyone else still holding these ie. European Gas Limited ?

I have heard nothing yet from EPG.

JONNO1 - I am in the same position with Selftrade as yourself.

Otherwise recent statements look like reasonable progress.

Any comments ?

tt

[rapier686] 13/3/2007 09:25

Yep, me too.
TD Waterhouse trade Aussies, so you could stick the shares in an account with them.

[jonno1] 13/3/2007 09:01

have recieved a letter informing me that Selftrade are unable to settle and hold this stock and enclose a transfer form, as this stock cannot be held in certiificated form outside OZ, how will I be able to deal in this in the future, confused?

[lmhardy01] 01/3/2007 08:06

Yes here we go again 2-3 $ no probs after the new reserves statement

[2montrose] 01/3/2007 00:00

Talk on Hotcopper that EPG itself may be subject of takeover.
Anyone still holding ?

[buffin] 22/2/2007 15:35

Thanks, ecosseson, appreciated.