Riverstone Energy Share Discussion Threads

[bitgold] 12/4/2024 10:58

Only 35% got tendered. You got more because you're held in a nominee account and other investors decided not to participate, which is lost money for them and a big gain for you. I immediately bought back my original holding at £9 and pocketed the difference.

[bitgold] 12/4/2024 10:56

With hargreaves Lansdown I got 90% tendered, so many investors clearly didn't participate, which is lost money. Questor in the Telegraph was happily telling investors to tender just the 35%. i wonder if he did the same...?

[craigso] 06/4/2024 13:00

Yes, it's amazing how many shareholdrs don't know to tender their full shareholding, not just the 35% or so of their "entitlement".

Somehow I got 75% of my shares bought at £10.50. Happy to let the share price trickle down for the next couple of weeks before buying back at £9 or below. Pure, unexpected profit.

And FWIW the underlying shale oil companies are still going strong...

[kenmitch] 06/4/2024 10:32

Yes. That’s because I tendered my entire holding. The 35% (or whatever the exact figure was) was guaranteed to be tendered. But investors could choose to tender for more than that. How many extra shares investors then got depended on the level of the take up. So a lot did not take up the tender offer…..despite it being SO obvious that the offer to pay me £10.30 a share when the share price was (and still is) around £9 looked a no brainer!

Investors who want to are free now to buy back the shares they successfully tendered for around £9 and pocket the profit.

[jaf111] 06/4/2024 07:14

Has anyone else received more cash from the tender offer than they were expecting???

[jaf111] 28/3/2024 09:22

From Questor a week ago…….

It also means a “material̶1; transfer of value from exiting investors to those who remain, according to James Carthew, head of research at QuotedData, an investment companies’ specialist.

Mr Carthew said if the tender offer is taken up in full, Riverstone’s NAV will rise by 113p to £13.66 a share because of the boost from buying its shares cheaply. “Shareholders need to weigh up their need for liquidity against this loss of potential long-term value – and this is very much an individual decision,” he said.

[ntv] 28/3/2024 09:18

Interesting fall after tender offer
It will interesting to see what the new nett asset value be once this has been fully completed along with updated nett asset value

[ntv] 21/3/2024 17:03

PERMIAN res continues it's march northwards
Now over $17 per share

[jaf111] 05/3/2024 08:51

Can anyone explain why people are selling at 906/908p with the tender at 1050p?

[ntv] 04/3/2024 19:16

looks like they maybe selling part of their holding in Permian res. due to an RRNS.
Not sure how many. Price seems to be $15.76

[lionheart79] 01/3/2024 22:35

I bought for my SIPP at 1206p so still underwater with the tender but might take up the offer to derisk a bit. Not been a great 6 years in this one.

[tania67] 19/2/2024 09:10

@NTV: yes, I get the same figure

[ntv] 17/2/2024 09:23

I have a nett asset value of £13.86(post completion and based on 31/12/23 and assuming full take up of tender offer) Is this correct? or has anyone else got a similar figure

[ntv] 15/2/2024 16:53

CPG and PR doing well currently

[bench2] 08/2/2024 09:45

Well done the board . The last tender was pathetic and below the share price . Circa 36% tender at £10.50 is still NAV enhancing , but gives all shareholders a fair exit price . Sadly hold outside ISA/SIPP so CGT to consider . Will there be a full take up , or undersubscription ??

[hugepants] 08/2/2024 07:47

Here it is. And a tender for $200M at £10.50

[ntv] 05/2/2024 17:19

About time we had a portfolio update as it is months since we had the last one

[ntv] 26/1/2024 18:42

thinking around 1280 but whatever it is it is a large discount
We have picked up a few more
Happy to wait and see what happens

[hugepants] 08/1/2024 11:12

bitgold, Its an estimate only based on the portfolio valuations at end sept. I see some of the small listed investments have had a tough final 3 months of the year share price wise which would take about 1.5% off NAV but I think 1300p NAV is a decent ball park.

[bitgold] 06/1/2024 14:32

Great portfolio breakdown analysis there Hugepants. Whatever they do with the cash, this trust remains on a huge discount and a great example of how sentiments change, considering it used to trade close to NAV about 8 years ago. I continue holding, let's see if a large dividend or tender offer is coming.

[hugepants] 02/1/2024 08:23

Riverstone Energy Limited
02 January 2024

Receipt of Proceeds

...The disposal of REL's investment in Hammerhead Energy Inc. to Crescent Point Energy Corp. ("Crescent Point") completed on 22 December 2023 and REL has now received cash proceeds of US$173,163,643 and 8,301,862 shares of Crescent Point common equity.

As announced on 7 November 2023, REL is exploring the most efficient means of returning its excess capital to shareholders. The distribution of capital requires both the consent of the Board of Directors and the Company's investment manager, RIGL Holdings LP ("RIGL"). The Board and RIGL are in discussions on how best to progress a distribution of capital.

[hugepants] 12/12/2023 15:51

Is oil price that important given O&G will be only about 20% of the NAV once hammerhead completes? The capital return when announced should help close the discount imo.

[bench2] 12/12/2023 14:06

Not sure what has triggered todays rise to 800p , is it time to peel a few off , as Oil price is off the top .