Coastal Eng Share Discussion Threads

[energiser01] 12/5/2014 17:06

Uhm - seem to remember these Coastal boys turned down a bid in 2012 for $23 dollars (canadian), only to then accept a merger/bid around $19/20 dollars 12 / 18 months later and after a lot of good drill results. Sure there was more to it, but who knows......I'm sure its all on google somewhere.....

dyor etc..

[dukedosh] 21/1/2014 09:57

* Coastal now officially delisted and off the grid, as of 7am this morning:

TIDMCEO

RNS Number : 0994Y

AIM

21 January 2014

NOTICE

21/01/2014 7:00am

NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM

COASTAL ENERGY COMPANY

At the request of the company trading on AIM for the under-mentioned securities has been cancelled from 21/01/2014 7:00am.



COMMON SHARES OF USD0.04, FULLY PAID, (B05NFN1)(KYG224041189)
(DI)
------------------------------------- -----------------------

If you have any queries or require further information, please contact the company's nominated adviser on 020 7409 3494.

This information is provided by RNS

The company news service from the London Stock Exchange

END

[ryandj2222] 17/1/2014 20:04

I thought this should have finished up by now:

"In addition, provided the Merger has been completed prior to such time, the depositary interests representing Common Shares will be delisted from the AIM market operated by the London Stock Exchange plc ("AIM") with effect from 7:00 am (UK time) on January 16, 2014. "

Has the merger not been completed yet?

[dukedosh] 06/1/2014 20:06

The fat lady sings.

RNS out this evening: Coastal Shareholders Vote in Favor of Merger.

[dukedosh] 19/12/2013 23:45

* Nov 13 Production drop off - EIA permit delays starting to show? Thankfully now someone else's problem.

Month.........Onshore....Offshore...Offshore Wells

Nov 2013......1,720........18,596......46 from 53
Oct 2013......1,289........20,143......46 from 53
Sept 2013.......991........20,270......46 from 53
Aug 2013.....1,440........20,601......46 from 53
Jul 2013.......2,166........20,290......42 from 53
Jun 2013......2,764........20,011......42 from 53
May 2013.....2,993........20,529.....42 from 53
Apr 2013......3,114........22,763.....42 from 53
Mar 2013......2,966........21,506.....42 from 53
Feb 2013......3,002........20,507.....42 from 53
Jan 2013......2,768........19,823.....42 from 53
Dec 2012.....3,014........19,823.....42 from 53
Nov 2012......3,176........20,484.....42 from 53
Oct 2012......1,670........18,321.....31 from 53

[davr0s] 03/12/2013 11:25

That's me out - I would have held longer for a second bid (looks less likely as time passes) but am worried about the Thailand unrest and increased risk of it derailing the current offer. Been an interesting ride this one!

[dukedosh] 28/11/2013 18:34

Excellent point tgg. IMO FWIW, with local Canadian oil prices still under pressure, the $CDN is likely to weaken further against most other majors.

[thegreatgeraldo] 28/11/2013 17:44

The share price drift is due to a bit of strength in sterling against CAD. Waiting until Feb (?) for settlement, given the apparently increasingly unlikely counter bid, puts you at risk of further strength in sterling..... or, of course, benefiting from weakness in same.

[nhp5] 28/11/2013 17:00

Thanks all for the info. As the share is slowly drifting downwards, as I understand it, it makes no real difference as the bid price agreed is what I'll get paid regardless? Regards

[thegreatgeraldo] 28/11/2013 14:57

Strikes me as a bit bizarre that you can now hold AIM stocks in your ISA, but not foreign currency.

[dukedosh] 28/11/2013 14:56

....as always tgg. I reckon I lose around 3-4% to my broker on receiving foreign divis through their forex spreads.

[thegreatgeraldo] 28/11/2013 13:03

However, if your broker receives the money in $CDN then your broker will exchange for GB£ at the prevailing spot rate on the day.

...the exchange will likely be with reference to the prevailing spot rate, ie the broker will take a slice

[dukedosh] 28/11/2013 09:36

This from previous experience. Your broker will swap your shares for cash in your dealing account, in reality a few days to a week after the final date. You will get the full agreed bid price. As this is a London listing quoted in GB£, you should get yours in GB£. However, if your broker receives the money in $CDN then your broker will exchange for GB£ at the prevailing spot rate on the day. Hope that helps.

[nhp5] 28/11/2013 09:12

Not sure if this has already been asked/answered here, but if I do not sell my shares between now and the buy is finalised, what will happen to my shares? Will they just be settled at the 'buy' price per share and the money deposited into my ISA account? And even if the price drifts lower before the buy completes, will I still get the bid price? Thanks in advance!

[thegreatgeraldo] 22/11/2013 17:39

Rocketing across the water!!!! Well... the discount to the offer has narrowed by 25% ;-#))

[melf] 22/11/2013 09:38

Price nudging down as the exchange rate worsens.

[dukedosh] 21/11/2013 20:42

Thanks sander4709. No doubt I'll see you around on the other bbs. Best of luck.

[sander4709] 21/11/2013 19:56

DD - yes thank you for your openness and timely dissemination of info. You have been a huge help with my investment decisions here. I've sold 1/3 and will wait and see what occurs with CEO over the next month.

I'm also in SIA (my biggest holding now), GKP, IAE and gradually building a position in ELA so I'm sure I'll see your words of wisdom on several other boards.

[dukedosh] 21/11/2013 18:03

Thanks Drago and good luck with your investments.

[drago] 21/11/2013 16:55

i,ve sold out so a counter bid is probably a cert.

thankyou duke for running an excellent thread

[dukedosh] 21/11/2013 13:52

New broker note today. Intriguing, along with the insider sells.

* Coastal Energy : Canaccord Genuity cuts to sell from buy

[dukedosh] 21/11/2013 09:37

Cheers Riv. I'm in IAE so maybe see you there from time to time.

Back to Coastal. Interesting that I&S "insiders" are now on the sell with volume. Read into that what you will.

Again, excuse the formatting.

As of 11:59pm ET November 20th, 2013
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Price
Nov 20/13 Nov 19/13 Ingalls & Snyder, LLC Indirect Ownership Common Shares 10 - Disposition in the public market -65,000 $17.97
USD
Nov 20/13 Nov 19/13 Ingalls & Snyder, LLC Indirect Ownership Common Shares 10 - Disposition in the public market -56 $17.97
USD
Nov 20/13 Nov 19/13 Ingalls & Snyder, LLC Indirect Ownership Common Shares 10 - Disposition in the public market -106,000 $18.02
USD
Nov 20/13 Nov 19/13 Ingalls & Snyder, LLC Indirect Ownership Common Shares 10 - Disposition in the public market -57,000 $18.03
USD
Nov 20/13 Nov 19/13 Ingalls & Snyder, LLC Indirect Ownership Common Shares 10 - Disposition in the public market -25,000 $18.04
USD
Nov 20/13 Nov 19/13 Ingalls & Snyder, LLC Indirect Ownership Common Shares 10 - Disposition in the public market -80,000 $18.08
USD