Share Name Share Symbol Market Type Share ISIN Share Description
Pan Andean Res. LSE:PRE London Ordinary Share GB0006688518
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 15.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.7 1.2 0.4 39.7 19.79

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Date Time Title Posts
06/4/201112:38PAN ANDEAN RESOURCES......Discussion thread60,236.00
28/9/201011:40PAN ANDEAN RESOURCES Premium Discussion230.00
14/7/201014:17A new thread is required. Famous predictions about Pan from Pan investors.4,857.00
03/1/201021:51THE EAGLE HAS LANDED!!14.00
04/12/200814:14PAN ANDEAN ..........THE HIGH LIFE344.00

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DateSubject
17/9/2010
06:13
pizzoman: RNS Number : 8540S Persian Gold PLC 17 September 2010 ? 17th September, 2010 Persian Gold plc Interim Results for the Six Month Period to 30th June 2010 A new era beckons for shareholders in Persian Gold. A major transformation in strategy in underway. In the coming months Persian Gold will transform into Clontarf Energy. Gold exploration opportunities in Iran and our early stage lithium opportunities in Bolivia will be subsumed into a company with oil and gas production and exploration. The above will require shareholder approval. Details will be sent to all shareholders in the coming months followed by a special meeting. The proposal, agreed by your board, is to acquire Hydrocarbon Exploration, an unlisted public company, with oil and gas operations in the Gulf of Mexico and Bolivia, and a potential share in a Ghanaian oil exploration block and early stage exploration interests in Bolivian lithium exploration. The proposal is to offer 2,500 Persian Gold shares for every 1 Hydrocarbon Exploration share. On that basis, the Persian Gold share price of 6.75p at the time of suspension values each Hydrocarbon Exploration share at GBP168.75. Post merger and prior to any funding, Clontarf Energy, the relisted vehicle, will therefore be owned as to 54% by Persian Gold shareholders and 46% by Hydrocarbon Exploration shareholders respectively. The merger is being achieved by a Scheme of Arrangement. Technical, legal and financial due diligence is advanced. Assuming this is satisfactory and all legal, regulatory and shareholder approvals are obtained, and necessary funding raised, the relisted company with new financing will list in the last quarter of this year. Persian Gold has acquired 1,425 shares in Hydrocarbon Exploration representing 5.6% of the issued share capital. This was achieved by purchasing all of the share fractions held by upwards of 3,800 Hydrocarbon Exploration shareholders in the process of a share consolidation. The cost of purchase of these shares was GBP178,125. When shareholders receive the full set of documents the strategy will become clearer. The Ghanaian block, though early stage, offers significant potential. Work is ongoing to clear up legal issues with the Gulf of Mexico properties. Bolivia has political uncertainty and legacy issues relating to title but there are opportunities in gas and lithium. We are not ignoring our Iranian investments. Five years work and millions of dollars have gone into our two projects, Chah-e-Zard and Dalli, both of which have potential. We are working with the Iranian authorities to obtain Discovery Certificates without which we cannot proceed. One thing is sure, the future is going to be very different from the past. New directions, new projects, new money and a new name will revitalise our company. John Teeling Chairman 17th September 2010
22/6/2010
09:23
napoleon111: John Teeling's Persian Gold, the Irish AIM listed gold and precious metals explorer, has agreed to acquire all of the outstanding shares of unlisted Hydrocarbon Exploration plc in a reverse takeover deal Hydrocarbon Exploration is a private company which assumed the US and Bolivian assets of Pan Andean Resources when it was acquired by Petrominerales in April 2010 The Board of Persian Gold has entered into an implementation agreement to acquire all of the outstanding shares of Hydrocarbon Exploration Persian Gold has conditionally offered to buy all outstanding Hydrocarbon Exploration shares from existing shareholders on the basis of 2,500 new shares of Persian for every one Hydrocarbon share held There are currently 25,537 Hydrocarbon shares in issue and 75,172,835 Persian shares in issue which would result in Hydrocarbon shareholders holding approximately 45.75pc of Persian as enlarged by the acquisition At the current Persian share price of 6.75p, this values Hydrocarbon at approximately £4.3 million It is also anticipated that Persian will undertake a placing of new shares to raise sufficient working capital for the enlarged group. As part of the arrangements described, the enlarged group will change its name to Clontarf Energy plc "This is a good proposal for both companies and I strongly support it. Hydrocarbon gets a stock exchange listing which gives liquidity to its shareholders and Persian Gold expands its oil and gas portfolio. The increased scale will make the combined venture more acceptable to investors," said John Teeling Persian has requested that dealings in its shares be immediately suspended from the AIM pending publication of an admission document On completion of the transaction, Persian will own 100pc of the equity of Hydrocarbon, whose assets will be the exploration interests in Bolivia and Ghana and royalty income and licences over producing assets in the US
30/4/2010
13:56
daviddavid: It means small shareholders are bought out, cutting down on the cost of having a large number of shareholders to look after. My bet is that some time in the future the company will split the shares (1:100)to improve liquidity. I've seen this before when a share price is this high. A cynic may interpret this as getting rid of small shareholders cheaply.
17/12/2009
07:02
pizzoman: Interim Results for the Six Months Ended 30th September 2009 As I write this, Pan Andean is subject to an offer which, if successful, will result in the Company delisting from AIM. Let me remind shareholders of the terms of the offer. Petrominerales, a Canadian listed oil and gas producer, focused on South America, is offering: Ø 15p cash for each Pan Andean share, plus Ø One Hydrocarbon Exploration Co Ltd share for every one Pan Andean share. Hydrocarbon Exploration is currently owned 100% by Pan Andean and holds the Company's Bolivian and American assets. It will be spun off to existing shareholders on a one for one basis. In effect, existing Pan Andean shareholders are being offered 15p a share cash for the Peruvian and Colombian exploration assets; whilst retaining the same percentage in Hydrocarbon Exploration as they currently own in Pan Andean. Shareholders will continue to have the exposure to the potential upside in the US and Bolivian assets. In recent years, the directors of Pan Andean have found it difficult to persuade investors of the value in our assets. Our share price lacked the advances made by a peer group. With a large shareholder base of over 6,000 shareholders, many of whom invested years ago at higher prices, there was always a seller. In recent years, we have been one of the few profitable cash generative junior oil companies on the AIM. We assembled a top class ground portfolio in Peru, which we farmed out on good terms; despite this our share price still lagged. We had high hopes for our heavy oil block in Antorcha, Colombia, yet we failed to get a satisfactory farm out. The option of drilling ourselves was mooted strongly by some, but while we could have drilled one hole from our existing resources, a five hole programme would cost in the region of US$10 million. This would have required a deeply discounted funding, diluting existing holders. The final straw was a collapse in the US gas prices, which saw a dramatic drop in our income. As you will see from the accompanying financials, we report a small loss for the past six months – the Company's first loss in a decade. With great reluctance and considerable discussion among top management, we expect to sell off our prime exploration properties in Peru and Colombia, and return cash to shareholders. The remaining assets in Bolivia and in the US generate cash flow, but have their own problems; nationalisation in Bolivia and litigation on Block High Island 30 in the Gulf, where there is a dispute over a decision to clean up capped wells. Turnover in the six months to the 30th September 2009 was £468,000, a drop of over 60% on the equivalent period in 2008. This was due almost entirely to a fall in US gas prices. Costs were strictly controlled, particularly administrative charges, which were reduced by £40,000. The overall result was a loss of £37,000. We believe that there remains great potential in our US and Bolivian assets. Once the Petrominerales deal closes in early 2010, we will focus on extracting value from these assets. Over the 20 year life of Pan Andean, we raised approximately £20 million. We drilled high risk holes in the Bolivian jungle and deep holes in Texas. They were unsuccessful. By selling our Peruvian and Colombian portfolio, we are able to hand back £18 million to investors, while there is significant potential value in the remaining assets. As David Horgan, the long time Managing Director commented using football parlance, "We got a draw". In the high risk world of oil exploration, and in the current economic climate, that is a result. John Teeling Chairman 17th December 2009
22/11/2009
20:20
father o toole: rememeber this person (was going to say fella but think its a bird) domtheone - 13 Oct'08 - 17:28 - 3577 of 3582 Say what you want. When many peeps savings have been destroyed in a matter of days, the likes of Spekky, NickB (presumably) and FOT, you should be ashamed of yourself. You do realise that the implecations of the financial meltown, not to mention the end of HBOS, RBS and now possibly LLOY will have ramifications for every single one of us. I'm no long investing in shares. Every share I have has been written down to £0.00 in my own private portfolio. 20% of my life savings gone in hours lol. As far as i'm concerned, my investments in LLOY and PRE (not to mention a couple of others) are consigned to the bottom draw and I expect NEVER to draw on them again. I'll leave them in a will or something lol. I expect only downwards movement on the PRE share price too so won't be checking in very often. Fed up with all the doom and gloom. Good luck to all (even the peeps on this board who I think are plain stupid) as i'm checking out. Merry Xmas
20/10/2008
16:26
2jwoo: now, if anyone said a year ago that pre share price would be that of taylor wimpey our biggest house builder, I would have bought 1000's of shares,glad I didn't
13/10/2008
16:28
domtheone: Say what you want. When many peeps savings have been destroyed in a matter of days, the likes of Spekky, NickB (presumably) and FOT, you should be ashamed of yourself. You do realise that the implecations of the financial meltown, not to mention the end of HBOS, RBS and now possibly LLOY will have ramifications for every single one of us. I'm no long investing in shares. Every share I have has been written down to £0.00 in my own private portfolio. 20% of my life savings gone in hours lol. As far as i'm concerned, my investments in LLOY and PRE (not to mention a couple of others) are consigned to the bottom draw and I expect NEVER to draw on them again. I'll leave them in a will or something lol. I expect only downwards movement on the PRE share price too so won't be checking in very often. Fed up with all the doom and gloom. Good luck to all (even the peeps on this board who I think are plain stupid) as i'm checking out. Merry Xmas.
22/5/2008
13:05
domtheone: TOG will have no problem (if he wishes) to get to a 30% holding buying up stock in the 10-15p range. He would then have to table a bid, say 20p, a 25% premium which the other 60% of shareholders would accept with open arms. Teeling and his cronies with the other few % would then, by law, have to sell to TOG. He has time on his side since he knows, just like the rest of us, that the PRE share price is going nowhere (and never will) under the present management. A share price cannot go up if nobody wants to buy. TOG knows this so can have any shares he likes for practically any price he likes.
04/9/2007
23:45
domtheone: NicB. Sadly, for the good of ALL of us, it has yet to materialise :-( 48995 LOL Teeling. Do us all a favour and stop ramping the unrampable. PRE share price CANNOT explode. Too many factors preventing it from happening and NO factors that can make it happen. In summary, impossible, irrespective of news. Shares need to be hugely in demand, limited availability etc etc to explode. PRE Share float does not meet the criteria on any level AFAIK.
13/6/2007
19:56
nickb: specky i dont know how long you have been in PRE but i would think most long term holders would say Bolivia is not in the share price, PRE share price is only GOM assets and undervalued, Peru is probably not factored in at all either. However i do agree that the worse in Bolivia could be over and the leader Mr Evo Morrals will need money to deliver to his people those promises that he made to get elected about a year ago, that money can only come from gas sales with the help of foreign partners. I await the many bullish rns's that PRE may issue soon.
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