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Real-Time news about Oakgate (London Stock Exchange): 0 recent articles
|bishopawn: Is it mere coincidence?
CVA consolidation: 480 shares to 1 Oakgate (to be shortly Adorian)
Enlarged share capital proposed: 480 million shares.
Presumably,the major creditors (Maurice Gould, Rochvilliers, VTR Media Investments, Carlton Finance) at the time of the CVA must have been persuaded that such a drastic reduction in the number of their shares in Primeent from 480 to only 1 might still bring them to par or close enough at some future point with the right acquisition delivered by Leo Knifton's and his associates' expertise. In January 2004, Oakgate came back at about 10 pence, if I remember rightly, which was between 5 and 10 times what the old Primeent shares were worth at the time of suspension pending the CVA. If we could get a share price for Adorian six months after a deal is announced up to £4 that would bring us pretty close tor recouping our losses on Primeent. Futuragene got to £2 and I do believe that Xerius Ltd will want to beat that achievement with Adorian.
All IMHO. DYOR.
May be Celtic will be proved right and we will have shortly a suspension and the announcement of the details of the acquisition. ADORIAN........ what business fits that??|
|leadersoffice: Well if they've decided on a name then Leo & the gang certaintly know what type of company they are going to reverse Adorian PLC in2.
I assume this is a postive step towards a new future!
News did come in the final half hour of trading...would expect some slight movement in the share price based on the above.
Hello Adorian...goodbye Oakgate|
|sandbank: Impreessive performance today by OKG I think. The share price has held rock-steady despite one weak holder disposing of a massive 19 shares.|
|celtic ii: sandbank.....how can a share price that was worth 42.5p just 10 weeks ago and today is 15p ever be described as 'rock steady'.
Nobody seemingly agreeing with you that there isn't a better time to buy.
Wonder why that is then ?|
|sandbank: Share price today rock steady, consistent and right at the base of its trading range. Couldn't possibly be a better time to buy IMHO.|
|bishopawn: There has to be shares for the MMs to buy to exonerate Contracts they have yet to fulfil. With A Buying Order served on Winterfloods by Gerrards Ltd last week which I understand has a 13 days timelimit, they will be thanking their lucky stars if perchance someone comes along and makes a gift of shares to them in a SELL without them having to hike up the price to get sellers to appear. The Casino Royale of the City of London has neat little rules for the main players:-
45 working days before delivery of stock
Then you don't even have to do that.
You sit on your hands until you are served a BUYING ORDER by the aggrieved Broker/Clent.
Then you can sit on your hands for 13 days before you have to do anything.
You might even force them to issue another BUYING ORDER within the thirteen days which itself has another 13 days to run.
So if my maths is correct 45 days plus say 5 or 6 days before the BUYING ORDER HITS WINTERFLOODS DESK plus 13 days plus another 13 days makes a total of 77 working days. Divide that by 5 per week and you have the amazing discovery that a MM can delay delivery of stock for the GRAND TOTAL OF 15.5 WEEKS. In that length of time, the law of averages works in their favour and some ingnoramus sells, oblivious of an imminent deal, at a giveaway price. QED.
Whether or not some of the recent sells are such is speculation. Or may be Winterfloods has got some shares by hook or by crook to avoid hot water from the Stock Exchange Authorities. But I hear that there is a queue waiting for shares to be delivered and the MMs are reluctant to put up the share price.|
|bishopawn: There seems to be informed buying. I am starting to think that there may be a strategy to lift the price to 60-70 pence prior to an announcement. After that I would expect £1-50 plus. I could be wrong. Pure guesswork. DYOR. Whatever does "enhanced earnings" sort of deal amount to?? "Enhanced EARNINGS" sounds a very attractive kind of deal. I presume, then, that the earnings per share will be high, especially given the smallish number of shares in issue at the moment. That would mean a very low PRICE/EARNINGS RATIO - may be in single figures. What sort of Company would like to reverse into a clean cash shell like Oakgate with high earnings? A nice little earner then for those contemplating a retirement nest egg and wanting a well above average income from investment. How far to go have we before an RNS? May be we will see week after week a substantial rise in the share price like last week's. May be there will be no suspension like in previous deals. Who knows? It is all very intriguing. But the spread is very wide. Still on a steadily rising price that should not put anybody off. IMO this has no where to go but UP. And the Market knows it!!!|
Yes, I agree it's a long way to go before the PME holders break-even but I think what tends to happen is that holders get so fed up that they will take any opportunity to get out, which I guess most did when PME was requoted as OKG and when OKG price "rocketed" soon after. However, I do agree that most PME holdings got diluted so much that they are unlikely to have any significant impact on OKG price.|
|bishopawn: Sorry, guys for intruding with a different stock, but this board is dead and it needs a bit of excitement and interest. In for a penny in for a pound is my motto, so take a wee look if you will at Black Rock Oil (BLR.LSE), current price a mere 1.6 pence with a capitalisation of about £2.6 million and only 107 million shares in circulation. It has a drilling campaign starting 1st June through to the end of the year, guaranteeing a good flow of news. This is a worthy punt in my estimation. DYOR and to help you here is a very recent update from the Black Rock Website and my calculations:
At the Black Rock Website, there is a May update in the Company brochure which is very clear, which I paste below:
BLACK ROCK OIL & GAS PLC
PEDL 098 (free carried through Sandhills 2 Well)
Isle of Wight (5%)
PEDL 099 Onshore Southern England (5%)
PEDL 113 Onshore Southern England (5%)
PEDL 125 Onshore Southern England (10%)
PEDL 126 Onshore Southern England (10%)
PEL 94 Cooper Basin South Australia (15%)
PEL 110 Cooper Basin South Australia (10%)
EP 419 Perth Basin Onshore Western Australia
EP 325 Exmouth Sub-Basin Offshore Western
EP 41 Part 1 Exmouth Sub-Basin Offshore
Western Australia (15%)
2004 DRILLING SCHEDULE
Myponga 1 June PEL 94 (15%) South Australia
Sandhills 2 August PEDL 098 (5%) Isle of Wight
Champion 1 September EP-325 (15%) Western
PEDL 125 December (10%) Southern England
PEL 110 December (10%) South Australia
Ms Carole Rowan 14.8%
David Steinepreis interests 7%
AIM Code (Shares): BLR
Share Price: 1.5 pence
Ordinary Shares (Quoted): 176,367,532
Market Cap (As at 1 May 2004) £2.65 million
CASH Approximately £850,000
David Steinepreis Chairman
Ivan Burgess Managing Director
Gary Steinepreis Non Executive Director
John Bottomley/Gary Steinepreis
Black Rock Oil & Gas Plc is an AIM listed oil and gas
exploration company. The Black Rock group was founded
in 1995 and Black Rock Oil & Gas Plc was admitted to the
AIM on 25 April 2001.
The Company has petroleum interests in both the United
Kingdom and Australia. It is seeking further acreage in a
continued revamping process which commenced during
late January 2004.
RECENT COMPANY RESTRUCTURING
In January 2004 Ivan Burgess was appointed to the Board
and in April of this year he accepted the position of
Since Ivan joined the Board the share price of Black Rock
has increased over 2 times which has enabled the
Company to raise funds by way of two placements;
17,000,000 shares at 1p in February and 20,000,000 at
1.25p in April together with a significant number of warrants
being exercised because of the share price. The market
capitalisation of the Company has increased over 3 times
and it has significantly increased its acreage portfolio. This
will enable the Company to participate in the drilling of a
number of wells. The acquisition of new acreage has a
concentration of low risk areas with a high probability of
Black Rock Oil & Gas PLC
I can see that the Directors hold 15.8% of 97,625,000 shares and 30.88% of the recently issued new shares, ie 50,485,212. I make that a total holding of 30,233,583 shares. Major shareholders also have big slices: Ms Carole Rowan has 14.8% of 176,367,532 shares = 26,102,394 shares and Steinpreis interests have 7% = 12,345,570. That adds up to a total of 68,681,547 shares tighly held,
107,685,985 shares for us and the market makers. That could amount to a relatively small number of ordinary shareholders. 107 millions shares in a tight market could produce strong leaverage when news comes.
I notice also the AIM Bulletin has an article: "Wealth if the South Coast lives up to exploration" It takes the view that Hereward Ventures, which has the same percentage interest in PEDL 098 and 089 (5%) as Black Rock, could really motor if oil is found. "If there is a significant find on one of its exploration blocks then even with a small stake, the value of Hereward's share could dwarf its current market value". Yet it goes on to say that, "It is difficult to forecast exactly what will happen to Black Rock. Australian oil man Ivan Burgess recently took over as MD and IT APPEARS HE WANTS TO GROW THE COMPANY".
Don't we all!|
|sandbank: PrimeEnt now has a new name - OAKGATE PLC. With the trauma, the CVA and the massive share dilutions of the past four years behind it this AIM stock is now no longer a media company but a cash shell with new directors - awaiting the reverse-in of an enterprise yet to be identified. The following background information is right to the best of my knowledge - but I would be happy to amend and correct any errors:-
DIRECTORS/ MAJOR SHAREHOLDERS
Leo Knifton (above) is 50 years old and took over the chairmanship of OKG from former PrimeEnt chairman Jacques Delacave. Mr Knifton is a former Bisgood Bishop stockbroker, He is a Fellow of the Securities Institute and is a former member of the London Stock Exchange. Leo Knifton started his career in the City in 1970 as a Stock Jobber and Market Maker with Pinchin Denny. In 1990 he formed Fort Knox Property Services and later Proshore Financial Services Ltd. He became an Appointed Representative of Alfred Henry Corporate Finance Limited in 2003 to develop a broad range of services to smaller listed businesses specialising in restructuring and reverse acquisitions.
Leo Knifton is chairman of five cash shells:-
Oakgate PLC (OKG) which is 29.9% owned by Xerius Ltd a company controlled by Mr Knifton and Nigel Weller (see below).
SBS Plc (SBG) - 37.9% owned by Zerlina Assets Limited which is controlled by Mr Knifton, Nigel Weller (see below) and Stephen Oakes (see below),
Voss Net plc (VOS) - 29.9% owned by Zaika Limited - controlled by Mr Knifton and Mr Weller.l
Alltrue Investments PLC (ATR) in which AIM dealings commenced on May 10th 2004. Mr Knifton Mr Weller and Mr Oakes each hold 16.8% of Alltrue's equity.
PNC Telecom PLC (PTC) Mr Knifton is one of a three man team (including Darren Ridge and Joe Case) which replaced the existing board of PNC at the end of August This was no shoo-in. There was a battle royal as the existing directors had to have their fingers prised away from the boardroom table. Eventually - in a fiery EGM - the PTC shareholders prevailed and threw out the old board lock stock and barrel to much wailing and gnashing of teeth. Now PTC too is a cash shell - a real one - the £2m in the bank being derived from the sale of subsidiaries PNC Telecom Services and KJC Mobiles earlier this year. The new board now - unsurprisingly - plans to find another vehicle to put under the shell.
In addition Mr Knifton is Executive Chairman of FuturaGene PLC (FGN ) ) - (formerly Overnet Data PLC) - which is trading .
Mr Knifton's contact phone number has been given in various RNS releases as 0207 628 3396 and 07887 877877.
Nigel Weller, Director, is 55 and has held senior positions in Bisgood Bishop, Morgan Stanley and James Capel and was a founder shareholder and managing director of a brokerage, Javelin Securities, and a voting agencybusiness, Manifest Institutional Holdings Limited. He is a member of theSecurities Institute and Institute of Directors. Like Leo Knifton he is an appointed representative of Alfred Henry Corporate Finance Limited . Mr Weller is a director of OKG, VOS, SBG and ATR but has resigned recently as a non exec director of FGN.
Former PME chairman J T L Delacave remains on the board as a director according to the accounts which give this breakdown of ownership:-
1) Xerius Ltd 29.9% (controlled by Mr Knifton & Mr Weller)
2).Maurice Gould 29.95%
3) Beller and Co (solicitors) originally had a 6.8% stake held for Pershing Nominees but all these shares had been sold by September 2004
4).La Rochvilliers SA 5.7%*
5) VTR Media Investments Ltd 4.2%
6).Carlton Finance Services Ltd 3.4%*
These holdings account for 79.9% of OKG's total equity - leaving 20.1% of the shares in other hands.
OKG'S Nominated Advisor is Beaumont Cornish.
PME TO OKG SHARE CONVERSATION FORMULA
If you held old PrimeEnt (PME) shares, an RNS issued in January explained how to calculate the number of OKG shares you now hold instead: "all shareholders who purchased shares prior to the CVA in June 2002 should divide the number of shares they held originally by 480 to obtain their correct shareholding".|
Oakgate share price data is direct from the London Stock Exchange