Investment Evolution Cre... Share Discussion Threads

[katsy] 17/12/2008 10:32

Well China are still Hungry for oil.

Dec. 16 (Bloomberg) -- Tanganyika Oil Co., the Canada-based explorer operating in Tanzania, Syria and Egypt, climbed to a record in Stockholm trading after China Petrochemical Corp. won state approval for a takeover.

Tanganyika rose from 9 kronor to 195, the highest close since the shares were first sold in December 2003. The stock has more than doubled this year, valuing the Vancouver- based company at 12.1 billion kronor ($1.5 billion).

Shareholders have until Dec. 19 to accept the offer, according to a joint statement from Tanganyika and Sinopec Group, as China Petrochemical is known.

Sinopec Group, the parent of China Petroleum & Chemical Corp., offered to buy Tanganyika for C$31.50 ($25.60) a share in cash in September. The purchase would boost Sinopec's production by about 2 percent, helping it meet rising demand in China, the world's fastest-growing major economy."

[squintyflinty] 17/12/2008 10:28

Thanks debbie, but why has the market not seen it like this?

[debbiegee] 17/12/2008 10:25

SQUINTY,I have seen this before selling shares and going long on a greater amout of cfds.
For the same amount of capital exposure if somebody thinks its a good punt they can have far more CFds.
Potentially a dangerous move unless 1 is very confident.

[madjock2] 17/12/2008 10:24

I'm glad they've sold whoever buys them can vote yes. They might well not have done!

[squintyflinty] 17/12/2008 10:24

Liquidkid
At £4.50 Imperial or it's share holders would not contemplate an offer.Oil will not remain at these prices for too long .Opec will start to cut production which should see a revised upward trend. I predict between $60to $70 for next year.

[katsy] 17/12/2008 10:18

To Scare people into not voting and sell. IMHO

[squintyflinty] 17/12/2008 10:06

Why would they go long on CFD'S and then sell a million shares.Are they simply playing games to try and increase volatility in the market?

[katsy] 17/12/2008 09:39

Hmmm the market appears not to like that although they've gone long big time with CFDs despite selling over 1m shares

[pgtops] 17/12/2008 09:32

Taken from 'ieca'

[debbiegee] 17/12/2008 08:23

Do we know for sure hes closed ?

[davius] 17/12/2008 08:22

> He's taken his 10% scalp on this one.

The Jabba was short at £10, how's he scalped anything?

[shiny1000] 17/12/2008 08:12

watch the shorts close today, we should have a nice increase from now on!!!

[debbiegee] 17/12/2008 06:27

I have a lot more than 10p a point but in T20s.Had calculated that there would be some selling this week untill fresh T20s would be opened.
I expect to see a strong rise as the fresh T20s are opened.
I also expect to see a rise now that folk can vote and are still able to trade as they may have been left with huge bills that they didnt want to cover.
I am wary of the shorters taking a back seat untill the T20s have positioned.
Lets see if my prediction is correct if the shorters remain quiet once the T20s have piled in?

[miamisteve] 17/12/2008 03:16

Notice EK's silence. He's taken his 10% scalp on this one.

[yuka] 16/12/2008 23:03

Well I've got some on spread bet at the moment (a lot more than £10pp) but you have to make sure you can take the loss if they don't get 90%. Looks unlikely at this point but you never know so no point in leveraging yourself up to the hilt. If the profit was that "easy" then price would have moved up from here already.

[superyids] 16/12/2008 21:27

I know I asked previously but has anyone put serious money on a spreadbet as they are so sure this will go through, because if so we're looking at 250 pts in next week or so minimum and at just £10pp that's £2500+!?

Surely if we are all so confident we'd be getting the money however possible to get this money on for an easy profit?

Something just feels wrong but really hope I'm incorrect - still tempted to put more on a long!!

[superyids] 16/12/2008 19:35

Hi Stuart

You mentioned some technical indicator sites you find useful - can you give the name(s) of the one(s) you have found of help!?

Regards

[davius] 16/12/2008 18:00

Someone made the comment earlier about a possible short squeeze. If we were to hear that the 90% acceptance level had been passed (perhaps on Monday) then there's a serious risk to anyone short of having to pay well in excess of £12.50 to buy back the shares. You only have to look at what happened to VW to see how things can get out of hand. So there could well be some holders that will retain their shares in the expectation of getting more for them as the panic ensues.

Personally I can't see it happening on a large scale, but it would be a good Christmas to make a little profit and see some Jabbas burning.

[stockeye2] 16/12/2008 17:09

Just incase anyone is as confused as I was, I have found this on Wiki about assented shares -

[squintyflinty] 16/12/2008 16:42

I believe it's approx 90%.

[debbiegee] 16/12/2008 16:36

Thanx Squinty !!!
Please remind me, how many % do the funds/institutions own ?

[squintyflinty] 16/12/2008 16:30

They couldn't give me too much detail for obvious reasons.He just told me that thIngs were looking "very positive" from the institutions.

[katsy] 16/12/2008 16:27

Squintyflinty will Merryl Lynch openly give you this info? isn't deemed price sensitive.

Given the multitude of brokers out there I wouldn't get too hung up on one broker submitting a day before deadline day, they probably have much less than 1% on their books.