Helium Ventures Share Discussion Threads

[sweet cherry pie] 19/3/2005 13:56

LONDON (AFX) - Hereward Ventures PLC said it plans to sell its mineral
interests in Bulgaria and Serbia to Cambridge Mineral Resources PLC, as it
changes its focus to its hydrocarbon interests.
Cambridge Mineral will buy the interests for a total of 1.5 mln usd, or
about 777,200 stg, via the issue of 7.97 mln shares at 9.75 pence per share.
Cambridge said it is not required to get shareholder approval but that it
will submit the acquisition to shareholders because of the close links between
Cambridge and Hereward.
Hereward holds six exploration permits in Bulgaria and three exploration
permits in Serbia. The permits include the Tashlaka Hill deposit in Bulgaria
which is estimated to contain an indicated resource of about 250,000 ounces of
gold.
Herewood said that its increasing focus on hydrocarbons mean that its
mineral assets have been marginalised and as a result it will fully focus on its
hydrocarbon interests.
Completion of the sale is expected to result in a loss on disposal of assets
of about 1.8 mln stg which will be reflected in Hereward's accounts for the year
to end March 2005.
Hereward, which also announced that it will change its name to Oil Quest
Resources PLC, plans to consolidate its shares so that five existing shares of
1p each will be consolidated into one new ordinary share of 5p each.
Hereward also announced a placing of 14.8 mln shares at 23.125 pence a share
to raise about 3.4 mln stg to help advance its hydrocarbon interests, in
particular to fund the active drilling programme planned for 2005 and 2006. It
is intended that the funds will give it the ability to acquire further interests
in drill-ready prospects.
To reflect the company's focus on the hydrocarbon sector, it plans a number
of board changes to take effect from the end of an extraordinary general meeting
on April 11. Former chairman Peter Bolt is one of those stepping down.
[e-mail]
jc

[sweet cherry pie] 19/3/2005 13:50

Some very big institutional names took part....and not just the likes of Gartmore !

The quality of institutional support {find out more for yourselves} bodes well for the future of HEV....finally !

[sweet cherry pie] 19/3/2005 13:50

Placing


The Placing will raise approximately #3,429,000 (before expenses). The proceeds
of the Placing will be used to advance the Group's hydrocarbon interests, in
particular to fund the active drilling programme planned for 2005 and 2006. It
is intended that the funds raised will also provide the Company with the ability
to acquire further interests in drill-ready prospects.


The Directors decided to undertake the fundraising by way of a placing with
institutional investors. This decision was taken due to the cost and time delay
in carrying out an offer to shareholders and the Directors' belief that the
Company would benefit from gaining further access to the current demand among
institutional investors for companies with oil and gas interests.

[sharecropper] 19/3/2005 05:26

I ahve been away for a coule of days and have only just seen this- I reckon it is positive (although how anyone can fully trust the directors who have got nothing out of a 4 year flirtation with mineral exploration is a moot point). With oil prices going up, and the ability of smaller operators to extract oil profitably, I see no reason why Hereward cannot finally make some decent money. I understand there is oil. I don't know how much (yet).

I think it is a lousy deal for CMR (or rather their shareholders).

[kamose] 18/3/2005 13:31

Having read the notice of the extraordinary general meeting
and in part 2.2 of the document hereward get rid of 2.6 million of dept which is the product of loans.
I believe in the long term this is a very positive move and the exploration for oil business is far more lucrative than the mining sector which was going nowhere fast with Hereward. With 7 wells to be drilled in the next year it all looks like an exciting 12 months ahead and especially with the 1st well at the end of April.
Two new board appointments and the stepping down of three board members is also a positive move as the new appointments have plenty of experience in the oil exploration business.
Going the right way for a change. IMHO

[giant steps] 18/3/2005 11:49

RNS 17/3/05 demonstrates institutional appetite for HEV,
raising £3.4m at an equivalent 4.625p

Screen prices bid 4.5p offer 5.25p (unchanged)
Volume @ 11:45 NIL

Plenty of speculative upside potential, imho (no advice intended)

[demetri] 18/3/2005 11:45

Kamose,

Fair point but at what cost, at what cost to gain a mere 70-100 barrels per day?

[kamose] 18/3/2005 11:34

I am assuming HEV share to be 1000 barrels but even if it is 10% of that I am sure they would accept it and it is revenue which HEV have never had

[demetri] 18/3/2005 11:18

Kamose,

7 odd % of a 1000 barrels a day amounts to very little revenue for HEV!! Looks like it is the calm before the next dive downwards!!

[kamose] 18/3/2005 10:48

The directors of HEV would grab 1000 barrels a day with both hands but obviously you know better

[corrientes] 18/3/2005 10:15

Look here TKon with the way the price of oil is going,all they have to do is to put up a special council use only pump on the site, and everyone will be happy. I just hope there'd be enough oil to make it worth while.

[tkon] 18/3/2005 10:01

1000 barrels a day. BWAHHHHAHAHAHAHAHAHA.

[tkon] 18/3/2005 10:00

corrientes,

So the opposition of the local council doesn't matter either then?

The Knight of No.

[tkon] 18/3/2005 10:00

Oh dear, Kamose!

[corrientes] 18/3/2005 09:31

For a start,HEV are not in charge !

[corrientes] 18/3/2005 09:29

On this occasion - apples and pears

[demetri] 18/3/2005 09:23

If they can't find substantial gold reserves in an area that is supposed to be "full of it" what makes you think they will have any more success on the oil front?

[kamose] 18/3/2005 09:18

If I was kidding I would not be holding these shares!

[tkon] 18/3/2005 08:51

You are kidding of course?

[kamose] 17/3/2005 16:49

I would think the chances of HEV finding oil to be better odds than anything running at cheltenham. BG found oil at Sandhills but did not progress with any testing due to the oil price in 1982. No excuse for not getting it out the ground now at $55 a barrel.It is well worth the effort, no matter if only a 1000 barrels a day!

[tkon] 17/3/2005 15:45

Yeah, I gathered but Northern don't really inspire me much either and let's face it, if I couldn't pick losing bets easier myself (oh, what a Cheltenham it's been!), I'd get HEV to do it for me!!

[demetri] 17/3/2005 15:42

NOP will find the oil if any exists HEV will benefit or not as the case may be.

[tkon] 17/3/2005 15:35

Oh well, if HEV aren't looking for it, it's a shoe in.........LOL.

[currypasty] 17/3/2005 15:34

alot more chance... hev arnt the ones looking, just paying for the ride

[tkon] 17/3/2005 15:26

Why? Is there any more likelihood of these people finding oil rather than gold?