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Lansdowne Oil Share Discussion Threads
Showing 17726 to 17747 of 17750 messages
|Precisely tv. The only downside I can see with SLE is the FD - the venerable Ewan Ainsworth of GKP fame. Mind you, he was there when GKP was very valuable, so.|
|What’s SLE got to do with LOGP?
Brandon Hill Capital joint broker to SLE … 11.37% shareholder in LOGP
SLE … Plunkett Public Relations – Sarah Plunkett …. Surely not????????
All a bit incestuous … but I am very broad minded when I want to be!!!!!!!!
Stupidity - You must be looking in a mirror!!
Check link below - I also invite all others to do so - to see I am correct.
BLOGS PERFORMANCE TABLE - LHS OF PAGE BOTTOM BLOCK.
Very clear - 3rd line from bottom - Zanga Oil. Gulf Keystone above it VIX to rise below it.
I expect an abject apology - You do not know what is on your own website.|
|Inclined to agree Trek3, PVR want to see the outcome of Druid nowadays, so do the institutions who invested. In the meantime, something to happen re. Barryroe.
If SLE are entertaining a sale, it stands to reason a buyer might look at LOGP.|
|Cep, don`t know about PVR being taken out as a whole,
but still believe LOGP will, makes sense, and that
6mil trade the other day points to that outcome,
if I was investing that kind of money I would be looking
for a straightforward cash offer, easy to cash in my shares,
anything else it gets messy, very difficult to trade
that amount of shares in the open market if you don`t
like the deal on the table!|
|I have looked back at some old analysis and reports, and re-read the comment by Titan in 2015 which really was interesting. (You can all take it as you please, and enjoy or whine. I think there is still a lot to get excited about, as long as LOGP holds on tight...)
What remains interesting to me is that in 2015, San Leon Energy were raising capital through a placing so that they did not have to finance themselves by relying on the sale of their npi in Barryroe. They didn't want to accept any offer in poor market conditions, which would undervalue the asset considerably - and basically mean they were giving it away for cheap.
An offer didn't come back then, but what is clear is that SLE were not UNDERsellers in any case.
From point of eventual farm in/development SLE were expecting aggregate cash flows of $40million per annum, based on their 4.5% NPI (based on the 2013 CPR pricing assumptions which indicated cash flow of more than $700 million net to San Leon through field life).
By 2015 SLE already had a number of approaches to execute a transaction for the NPI, but decided maximum shareholder value would be attained through these cash flows.
Now SLE appear to be in quite a strong position with regard to their own financing with possible revenues of $150million for their Nigerian asset. That of course includes consideration for whatever debt they have to finance that acquisition in the first place, and the risk that a corrupt country will honour payments and dividends. It is almost too good to be true, and the market seems to undervalue SLE because of that!
Therefore the Barryroe NPI will still be of considerable value, considering the above projections didn't not include further exploration upside.
And now look - SLE are the subject of takeover interest, they will not have to sell their share of Barryroe for less than they feel it is worth, will they?! They are under no pressure to sell, it seems from their current financial situation.
Tony O'Reilly had ONCG near the point of making an offer for PVR for 15/16 Euros per share and he was in Delhi closing terms in 2015. At the time ONCG invested in Africa instead, and another American company that was interested, kept money on home soil investments instead.
All that back during the worst of the oil crisis.
There were no farmouts in the North Sea or Atlantic basin for over a year back up to June '15, and in 24 months leading up to June 2015, and PVR came close 3 times and even supposedly had takeover approaches at valuations that were not entertained.
Attractive tax and stable geopolitical situation make these assets worth hanging onto to get market value for, not fire sale prices. It is clear that is why SLE held on through the downturn, and why PVR also want the best value for the assets, and why major institutions and oil companies like Sclumberger decided to step in and fend off the vultures.
In April 2012 PVR raised $100million at £4.80 per share at 5% premium. Therein lies another reason the company will not be sold off cheap, the institutions will want a proper return. That is why I believe they happily stepped in to finance Druid. The above leads me to believe there is still interest in Barryroe, it is more a matter of not underselling it, and it is obviously a complex deal involving the various requirements of all parties with a share of it.
Titan made interesting comment at the end of their piece;
"There was also chatter that ONGC (who bid nearly 1bn euro’s in 2013 remember) had rekindled their interest in the company. Press reports that Maurel et Prom had offered north of 3 euros a share only in Nov/Dec of 2014 (placing adjusted this equates to around 1.5 euro’s a share) gives an indication of industry valuations of Providence. As one shareholder postulated at the AGM, it seems eminently more logical that the company be swallowed as a whole rather than have either Barryroe or Spanish Point farmed in as an acquiror could swallow the whole company much more capital efficiently than progressing with 2 asset farm-ins and get the balance portfolio for free. Further, there has been comment in the Sunday Times this weekend of a shareholder landing upon Providence’s shareholder register with, according to the Times, a 4.5% holding. What this tells me is that should the farm-in negotiations be beset by further set-backs and sheer bad luck during the summer months into early autumn that there is likely to be real pressure put upon management to put, officially, the entire company up for sale.
To conclude, to us at Titan we believe this situation is akin the recent one in Plus500 that we highlighted here. The comparisons are very similar, namely a complete disconnect between, in our opinion, the current stock market price relative to the real value of the underlying business (asset in PVR’s case). I am hard pressed globally, let alone in the UK, to find such an undervalued investment opportunity and we expect in the weeks and months ahead to see a complete re-rating of the stock back towards triple figures as we approach end game here and the potential catalysts of either a farm in being concluding or, perhaps more likely, the company being taken over"|
|No. Plenty left for the time being.|
|Surely they're getting close to running out of cash?|
Good morning. I hope your well. Don't look at this bb every day because I only now have a small holding/ I prefer PVR now. Regards your post 2239, I am in full agreement with you.
OT, Have a gander at SOLO, it not to late to get in. my largest holding now, I also hold AEX though only a small amount due to my current cash situation. I will send you a private message with other I am in these days.
|No shortage of placing shares finding new homes, I guess. I wonder if anyone big is hoovering them up ... or is just punters?|
|PUGUGLY - what on earth are you talking about? The post is still there in its original form.
Jeez, the sheer stupidity of my fellow man amazes me sometimes...|
|6mil trade @ 1.37, reported after the bell,
strange goings on indeed, price action was
all over the place after lunch, perhaps that
was the reason!|
|I agree with that lanio. Some clever punters buying on the dips and the mm's up to their usual tricks. Hopefully come good fairly soon and I'm holding for that.|
|Its up... its down.... make of it what you will, it's nice to see some volume going through....
over 20m traded on some days.
3m so for today.
This went weeks/months without any trades at all not so long ago.|
|Nobody knows jack sh#t in my opinion.|
|Moving down fast - Who knows what ?|
|I'm sure he works very hard ... on his golf swing.|
|re my post 2227 above I see that richie666 has now deleted the whole of the blog showing Zanga Oil - without comment - Hummmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm. What does that suggest?|
|Will Barryroe be farmed out in my lifetime, GD? With a Mkt Cap of £6.75m I suppose LOGP is worth a small punt at the present price. The share price could rocket on a Barryroe farm out, or it could disappear without trace without one!|
|Sure don't we all GD!|
Your correct. But the timing is all important, sooner than later, I wish!
|Barry roe farm out is what's needed here to realize decent value.|