Valiant Petroleum Share Discussion Threads

[hangthedj] 25/4/2013 10:20

ok, thanks ed.

[ed 123] 25/4/2013 10:03

hangthedj.

The terms of the Valiant acquisition state that 307p per Valiant share will be paid not later than 3 May 2013.

So, maybe another week to wait.

[hangthedj] 25/4/2013 09:35

Anyone else with selftrade?
1.33 ithaca shares have been added to account but still awaiting the 307p cash.

[bomfin] 20/4/2013 14:51

Bought some Premier yesterday at 356p. Already nervous but if Luno is north of 100 million recoverable should be in the money. imho dyor

[ed 123] 20/4/2013 14:50

Yes, that's the end of Valiant.

Sunk by a combination of Osborne's tax grab, poor exploration record and increased cost of operating in the North Sea.

I sold about two thirds of my Valiant in the market. The other third have been swept up and I'll get Ithaca shares and cash in the first week of May.

FWIW, other North Sea operators could follow, imo. Thinking that any of Faroe, Trap, Serica, Antrim, Sterling Resources, Lochard, Ithaca, Enquest could go.

Bought a few Premier Oil yesterday (355p). It's been upopular of late, but it's on a strong growth track. Also, Luno II test result could be released next week - should be good. Not advising any to follow me. It could take some time (if ever!) for confidence to return to the oil sector. Largely putting money into other sectors.

Good luck to all.

[utrecht_00] 19/4/2013 22:36

So farewell valiant petroleum. No counter bid and a disappointing end.

Thanks to all on this board for your insight, analysis and help.

I hope to bump into a few of you on other boards.

In the end I sold up and decided not to take iae shares.

Good luck to all the past regulars on here and all the best.

[red ninja] 10/4/2013 20:46

The Ithaca Energy shorts appear to be being redeemed as we approach the takeover date, the hedge funds have made their money ...

[flyingbull] 30/3/2013 23:27

The April Oil Stock Challenge is on...deadline for entries is midnight on Monday.

Good luck!!!

The March results are shown here


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[ohisay] 27/3/2013 21:57

I'm out too.
Some money into LOGP - CPR for Barryroe shld be out next week.

[eipgam] 26/3/2013 17:25

I'm out now... thanks all... taken my pennies to INTU after numerous buys from the Chairman and directors.

[ed 123] 21/3/2013 15:02

Full year results are out.



Seems to have been a slight downward reaction, another 4p off. Reaction to reduction in 2P reserves? But that was only due to a reclassification of Crawford/Porter. Elsewhere, additions exceeded production. Looks good with exit production of 11,500 bopd. Also, some Norwegian exploration underway.

Ithaca still under the cosh (108p, down 4p).

[mcdougall1] 21/3/2013 09:40

Top sliced about 25% of my VPP earlier in the week and will now let the remainder run. I also think it unlikely that another bidder will emerge, so this was just a portfolio exercise to size my IAE position at a level I'm comfortable with once the takeover has completed (I already hold some IAE).

McD

[ed 123] 20/3/2013 23:31

Only have about a third of my Valiant left. Gradually sold about two thirds.

FWIW, I think the takeover is good for both sets of investors. Also think Ithaca may fall further when the Valiant holders get their shares. Some have positioned themselves for this. I sold a few from my holdings at about 120p. Ithaca shorts 5.7%. They will have to buy back at some point. If I fancy a gamble at the time, I may try to call the bottom.

IMO, only a tiny chance (1%) of a counter-bid now. I think PB is silenced by the confidentiality agreement he would have had to sign. He may even have bid slightly more than 475p and in cash - but we'll never know. I expect he'll put his cross in the box to accept Ithaca's offer, take the millions and move on.

I picked up a few TRAP in the duster dip today. Scotney will most likely be another duster - but I went for it on a risk/reward basis. No advice intended.