||EPS - Basic
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Sterling Green Share Discussion Threads
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|FAST - today:
|Does anyone know what the new ticker will be, when the takeover starts trading?|
|This was reported as the vehicle from which
Fastnet Oil & Gas was born...|
|Fastnet Oil & Gas, a new company backed by seasoned Irish exploration investors, will begin trading tomorrow in London and Dublin after raising £10m (12.4m).
The placing at 11p a share values Fastnet at 25m. The company has appointed Dr Stephen Staley, a non-executive director of Cove Energy, as chief executive and Cathal Friel, a co-founder of corporate advisors RaglanCapital, as non-executive chairman.
Fastnet, which has interests in Ireland and is looking at opportunities in Africa, will list on London's AIM market via a reverse takeover of Terra Energy.
It will also list on the Enterprise Securities Market of the Irish Stock Exchange in what is a rare boost from an indigenous float.
The listing brings together some of the shrewdest exploration investors in Ireland. Tommy O'Gorman, an early backer ofPetroceltic and Cove Energy, is a significant shareholder; Michael Nolan, a Cove founder and director is on its board; and John Craven, the petroleum geologist who is CEO of Cove, is an adviser.
About 28 oil and gas institutional investors including multibillion funds Henderson Global Investors, CQS Asset Management and BlackRock Investment Management are all shareholders in the new venture. Raglan Capital owns about 12 per cent of the company on the behalf of Friel and private investors.
"We're hoping this will reignite the Irish exploration sector," O'Gorman said. "We're coming on the back of a great story at Cove Energy."
Fastnet has three Celtic Sea licence options applications pending and is also in talks over deals in Africa, where its backers have considerable experience.
"Given the providence of Tommy O'Gorman and the Cove guys in Africa, we can see deal flow," Friel said. "There is nothing definite in Africa yet but we are hopeful we will be able to make some announcements."
Fastnet is examing potential investments in East andNorth Africa where its board and advisers have considerable experience.
"We are listing in Ireland to give us access to Euro dominated funds," Friel said. It also suits the firm's Irish investors, he added, who have been staunch supporters of exploration in Ireland for decades.
"From an investor point of view, it is very exciting," said the Newry-based O'Gorman. "Fastnet has a very bright future."
Michael Edelson, the millionaire non-executive director of Manchester United -- a man known as the "Shellmeister", because he has backed so many cash shell companies -- is the forth member of Fastnet's board. Paul Griffiths, the founder and ex-chief executive of Island Oil & Gas is, like Craven, an adviser to the company.
Cove Energy, meanwhile, is currently the subject of an ongoing 1.5bn takeover battle because of its exciting interests in Tanzania, Mozambique and Kenya.Thailand's PTT Exploration and Production and Royal Dutch Shell are among the bidders reporting to be circling it.
East Africa is expected to become one of the world's largest gas exporters to China after a string of major discoveries across Mozambique and Tanzania.
Cove has an 8.5 per cent stake in a massive gas find offshore of northern Mozambique as well as interests in Kenya.|
|The ball is in and the game is on|
|somebody is playing around with the price|
|Yes the write up was good wasn't it BC|
|Get ready for this to soar next week with massive buys on Friday and investors chronicle write up 1 p very soon buy buy buy gla|
|Solid write up in Fridays Investors Chronicle rated a good buy with excellent prospects and quality management team from COVE|
|Top call in RRL topinfo, good job you pump and dump and dont hold some of your
rubbish tips !|
|All Buy's at the moment on the sentiment rating:
|come on, 0.3 and im in :-)|
|soon be the weekend !!|
|well look slike next week then...use these weeks before vote to get out people???:)|
|But no vendors are selling topinfo, that is why the price is barely moving
and well down from price return from suspension, also why it is very easy
to buy millions online but not that easy to sell size, surprised you still
hold, 2 days is equivalent of 2 years to a normal investor.|
|wait till the weekend TOPO|
|Looking good eh Comedy,all buying today.|
|I am and looking forward to the weekend !|
|solarno remember canisp relsiting back as tstr???same process here...roll on a month or two and most will understand what is transpiring just now:) buy and hold.|
|getting ready for the weekend|
|Hatey lol. You have us all wrong.|
|Naaaaaaaa You have us all wrong Hatey.|