Petroceltic Share Discussion Threads

[hermana3] 29/2/2016 13:06

He sure aint long here!

[frost1] 29/2/2016 12:50

Simon is famous for shorting stocks. I would treat his opinions with caution.

[resourceful] 29/2/2016 12:34

simon cawkwell is right
the assets are not worth the debt...in this market
why is there any call for legal intervention
caveat emptor
AIM is speculative
Resources even more so
Algeria even worse

[hermana3] 29/2/2016 11:54

Should be hearing Petroceltic response to opportunistic bid from Sunny Hill soon...

[extrader] 29/2/2016 09:45

Hi all,

Interesting comment from flyingbull on TMF :

Dragon faces a 12-month embargo on making another approach for its former target. But that time limit could be shortened to three months with the agreement of Petroceltic, Mr Al Khalifa said on Tuesday.
Commenting on the shareholder feud, Mr Al Khalifa added: “We don’t want to get in the middle of Petroceltic shareholders, but we like their team and we like their asset.”
[oilretire]

The FT article was dated 17 Feb 2015, so I guess the 12-month embargo is no more. Would the Dragon be tempted to make another approach/offer?

Maybe Worldview's plan is a cunning flip (pre-arranged with Adair ) ?

ATB (sold out, thankfully, higher up)

[mariopeter] 29/2/2016 09:35

Simon Cawkwell

Worldview should pray that no shareholder with deep pockets has lost money as a result of their "bid" because that is very actionable if they did. Its also funny how a writ would teach someone a lesson and encourage proper order and finally, and in disagreement with you, a great lawyer can make alot stick because a funny little judge somewhere just might come up with a unique verdict.

I am not a shareholder just a disgusted bystander.

[simon cawkwell] 29/2/2016 09:07

mariopeter,

Were you to spend a thousand pounds plus I think you'll find that best legal advice gives you no hope.

SC

[mariopeter] 29/2/2016 08:57

Simon Cawkwell

A share is worth what people pay for it and because of the bid at 3p, people are now paying less for it . That is how value has been destroyed. Sue them is my view.

[seangwhite] 28/2/2016 21:34

Big Brain has run this into the ground with a number of disastrous adventures.The Big Man has led a submissive board into the abyss and Adair has had his trousers well pulled down.WV will no doubt get control in the end because the BOD have no backers.The only hope might be a bid from ENI.VGLTA

[pyemckay] 28/2/2016 19:45

It will settle at 3p regardless.

The banks are temporarily keeping the lights on as per each "senior bank facility" RNS. Friday is the next deadline and as the bank clearly states they may consider further waivers if the circumstances suit them. The circumstances have now changed dramatically with the offer from Worldview whether the shareholders like it or not. The banks can now get their money back courtesy of worldview.

PCI are pretty much bent over the barrel(pardon the pun). The trousers havent been dropped yet but the belt has been loosened and its almost time for the shareholder pain.

[300808] 28/2/2016 16:22

opening price tomorrow anybody ?

[simon cawkwell] 28/2/2016 16:09

mariopeter,

How did Worldview destroy value? If you mean that bidding 3p (which is 3p more than the shares are worth), you are surely wrong in so opining.

Simon Cawkwell

[oilretire] 28/2/2016 14:51

Here's the FT article referred to in 58512:

[mariopeter] 28/2/2016 12:54

Actually none of that is relevant gck that's the risk taken by the shareholders after doing their research but to deliberately destroy value like Worldview did last Friday well that is not petrochemical risk expected by shareholders that is self-fulfilling financial destruction which merits a writ from the Company (who gives a fig if it has legs) and warrants at least a warning from the Stock Exchange.

[goldencrosskiss] 27/2/2016 17:35

Just look at how much was written off in dry wells and appallingly poor decisions from the board before accusing Wordview, mariopeter. The results speak for themselves; the board run the company not Worldview. Now for instance, mariopeter, imagine you own pci I doubt very much you would have gamble your hard earn borrowed cash on Kurdistan. No?

[mariopeter] 27/2/2016 17:15

Hope someone issues a writ against Worldview for destroying value.

[mariopeter] 27/2/2016 17:11

This is a new game lets offer nothing for a load of assets. Will watch out for these idiots Worldview in other stocks.

[nextull2] 27/2/2016 17:08

Courtesy of mister tray on ii.
Interesting.

Below is an excerpt from First FT article referred to in that post, this from the same man claiming now that PCI has no value and kindly offering to take investors shares for 3p. Bear in mind that the MC was £300m at the time.

Petroceltic’s board has accused Mr Moskov of attempting to obtain control of the company without paying a fair price, and also argued a change of control could threaten its interests in its Ain Tsila gas co-venture with Enel of Italy and Algerian state-controlled Sonatrach. The project is expected to absorb $1.5bn of capital expenditure ahead of first gas production in 2018.
Mr Moskov defended his actions to the Financial Times this week, stating: “We have exhausted all options to make changes we wanted to make.”
He admitted that Worldview at present was sitting on a paper loss after raising its stake from 5 per cent in February last year to nearly 30 per cent, but said he still expected to profit from his campaign. “Is there value in the company? Yes — multiples of current market value.”

MT.

[steelwatch] 27/2/2016 14:02

Quite by chance your visor was raised PC

[seangwhite] 27/2/2016 13:37

This will stand off will linger on for a while as without Adair no takeover bidder can get to 90%.Adair is a lot poorer for sitting down at the table with Big Brain and I am not referring to the bill for the meal.WV are stuck in a fairly bad place as they have managed to destroy a great percentage of their investment on this rather opportunistic but inherently dangerous gamble.With WV talking down the value and BB being held in such low regard by most of his poor investors maybe Wee Tom should step out from behind the Big Man's shadow as a mediator.It is obvious BB must stand aside or go for any resolution unless he can push his old mates at ENI into making a bid.20p could easily do it I would say!GLTA

[elrico] 27/2/2016 12:50

It this the same broker (cenkos) that can't spot a fraud even when furnished with evidence!

Their game is long of fee's for as long as they can milk it. And BMO, have they accounted for the debt in their numbers? Uhm!!

[hermana3] 27/2/2016 11:32

There is a zero missing in Moskov's bid,lol.

[oilretire] 27/2/2016 11:02

Ooops, that's almost identical to Steels link. Stirs up a bit of main stream press coverage though I suppose.....