Solana Res Share Discussion Threads

[norman the doorman] 26/8/2008 12:02

5mb + Risked $0.07 - Unrisked $0.30

+ GTE had POPA 2 come in last week too. Risked $0.17 - Unrisked $0.33

So we should have had more than $0.50 uplift.

Could potentially be a lot more.

Costy 4+5 I think are going to be huge and also the kick out in production should only be a few trading days away.

[thegreatgeraldo] 26/8/2008 09:54

Can't find any mention of target size, so good news, but possibly not a large find...

[cwa1] 26/8/2008 09:37

Yes, seems decent enough. I assume that will knock the price back then?

[thegreatgeraldo] 26/8/2008 09:22

No reaction over here again..... waiting on the cannucks..... looks rather good news to me

[bronek1959b] 26/8/2008 07:32

not invested in sorl myself but this seems a fantastic company that is continuosly finding oil.

[norman the doorman] 07/8/2008 00:48

bargin of the year.

[sg31] 06/8/2008 17:06

Norman,Shhhh,keep it quiet or everyone will want some.:-)
This is the best oil play on AIM and there are only a few of us know it.When the merger completes GTE will come onto the radar of some serious players .In 18 months time they will have been taken over.

[norman the doorman] 06/8/2008 15:27

this is getting ridiculously cheap. 15,000 BOE per day coming v.soon. flow line has been completed and is being pressure checked.

rough calcs.

netbacks say at $80 x 15,000 x 365 days = $438 million cash flow per year.

EPS $438m / 230 million share (combined group ) = 1.9

P/E ratio $4.25 / 1.9 = 2.2

+ the bonus of loads of acerage and no OWC for the Villetta T formation and reserves that must have now substantially increased in size.

good times.

:)

norman

[sg31] 29/7/2008 19:36

The merger looks to be good news for holders in Canada but I'm not so sure for UK holders.We know the there will be no listing for the new company on AIM so I presume we will either have to sell our shares in the market or open accounts which allow us to deal in US stocks.My SORL holdings are currently in accounts with Barclays and Halifax,I know that holding foriegn stocks with Barclays is inordinately expensive,I am not sure about Halifax but can't imagine they will be much use in this situation.
Has anyone any experience of this type of situation or can anyone offer any advice.

[captainfatcat] 29/7/2008 14:52

Looks like they like the merger in Canada

[norman the doorman] 29/7/2008 14:50

we should be looking at getting 95% of the GTE closing price once the deal has been approved. so at $5.60 for GTE currently we should be looking at £2.70 ish for SORL. If the C4 and C5 well data is good then SORL should track the hopefully higher GTE price. i will be watching the action across the pond closely over the next few days.

[tuckswood8] 29/7/2008 10:32

I am on holiday at present so not able to fully analyse the terms of the merger.

Solana closed last night on TSX at around a 1-month low, the RNS talks of a 14% premium to the 20 day weighted average price, so why has the price fallen so sharply on AIM today? Also why did the price slump yesterday?

The situation is further complicated by the GTE price having fallen 32% over the last month whilst that of SOR has only dropped 24%.

Will have to wait for TSX to open to see the reaction there but it appears to me that our MMs have over-reacted in dropping the AIM price, and that anyone selling in the market today is getting shafted.

As there is not going to be an AIM listing for the combined company it would seem that SORL holders have little alternative to selling in the market at some point, but I would hope to see a more fair price than 201p.

I trust that someone better able than me to analyse the deal will post their opinion in the next few days.

EDIT: Somewhat peeved as I added 2000 yesterday!

[sg31] 29/7/2008 08:47

I must say its not unexpected and I can see the reasons for it but I would have liked them to stay independent until they had drilled their high impact prospects.

[thegreatgeraldo] 21/7/2008 14:49

Strong open in cannuck land....

[tuckswood8] 18/7/2008 17:14

Sorry guys, the first sale was mine as I needed to pay for some EEL where I am locked in because of the suspension. Managed to get them back later at a better price though.
Looks to be a good buying opportunity here but I have a load of dosh tied up in EEL and I can see that suspension stringing out until October,when they MUST produce results,(7 months + 3 months overseas extension from year end).

[bigwavedave] 03/7/2008 08:27

Sorry Norm. Can't help you there.

[sg31] 01/7/2008 21:33

Norm,Flog the rest and buy more Sorl...That should sort it.:-)

[norman the doorman] 01/7/2008 20:56

only share i own thats up today.

:(