Addax Petroleum Share Discussion Threads

[diggsy] 09/6/2009 15:51

Sounds good to me leeson.

[leeson31] 09/6/2009 15:39

:p roll on 3200p

[diggsy] 09/6/2009 15:26

lol...sounds good scottish...2 sugars please mate..

[scottishfield] 09/6/2009 15:19

excellent, lesson & i shall bring the tea

[diggsy] 09/6/2009 15:19

Well Im now on board as well as of this morning, looks like a great company either from a takeover perspective or growth through its own operations and M&A activity.

Glad to be on board, onwards and upwards.

[bluepill] 09/6/2009 15:06

Looking good. Definitely asleep this am.

[scottishfield] 09/6/2009 15:05

Yes, a bit more lively now, good old axc

[bluepill] 09/6/2009 15:01

looks as though the potential deal is dawning on the Toronto market. LSE is following its lead.

[bluepill] 09/6/2009 15:00

Hello is this spike up in response to the share price going up in toronto or something more.
Hopefuly the bidders will come out of the woodwork sooner rather than later.

[leeson31] 09/6/2009 12:49

time will tell...

[bluepill] 09/6/2009 12:40

reading the ft article perhaps knoc will go for the kurdistan assets and sinopec the west african assets.

[leeson31] 09/6/2009 12:06

yep, hoil quite favourable at mo, and gkp next imho, and afren close on the radar. Im not sayuign afren wil be taken over, far from it, but, theyre rigth where they need to be ! :p

[bluepill] 09/6/2009 11:46

china is after afican resources

[leeson31] 09/6/2009 11:39

bluepill : imho it might be more liek $6b circa £37 p/sh

[leeson31] 09/6/2009 11:38

aye, look at those high volumes y/day, and the share price held well today, and in Toronto the share price came back very strongly towards the end of play. The trend is up, and oil is steady at $70/b and production is just increasing. Lots to coem in the JDZ.....

AFR have still the 4.1% wi % in JDZ. Not wortha great deal I know, but the area certainly is hotting up.

Good bye Russian oil days, hello West African hot oil acreage :p

[bluepill] 09/6/2009 11:35

well if there is a bid for $8 billion then that puts the share price at about 3400
what do you think?

[tamtam3] 09/6/2009 11:33

Good luck with your target Leeson
I believe ADDAX their JDZ assets won't be sold before drilling in those blocks and it's quiet possible there will be a second bid round IMO.

Tamtam

[leeson31] 09/6/2009 11:11

this has got 3200p written all over it imho... thats my target and has been since 600p.

[bluepill] 09/6/2009 11:03

nice looking chart

[bluepill] 09/6/2009 11:03

Its funny though that this oiler is quiet when other threads like uen, hoil, dgo are oversubscribed if anything.
if its overlooked does that mean its undervalued?

[scottishfield] 09/6/2009 10:44

bluepill, it's always a quiet board. There are usually relatively few trades. I don't know why. I've been here since around £10 & have enjoyed it. I sometimes venture out to other boards!

Seriously, I would have thought that in the present circumstances Axc would be higher. It probably will go higher in the short term, it's just a little overlooked generally. But that can sometimes be a good thing also. Good luck to you

Rgds S-F

[bluepill] 09/6/2009 09:22

All this news and press speculation.
At least 4 potential bidders mentioned including KNOC and Sinopec.
How come the price and board are both flat todat?

[bluepill] 09/6/2009 09:21

Jun. 9, 2009 (China Knowledge) - Sinopec, the largest refiner in Asia by capacity, reportedly hopes to purchase a 100% stake in Canada-based Addax Petroleum Corp, which is engaged in the oil and gas businesses in Africa and selected countries in the Middle East, for up to US$8 billion, the South China Morning Post reported on Jun. 8.

Su Shulin, board chairman of Sinopec, has mentioned that the firm is seeking overseas mergers and acquisitions (M&A).

[bluepill] 09/6/2009 01:21

From the Daily Mail

'Anglo-Canadian oil explorer Addax Petroleum soared by 220p to 2,233p after it confirmed bid rumours. It said there was no guarantee talks would lead to a transaction. The South China Morning Post earlier claimed China's Sinopec is preparing a £5billion bid for the group, listed in both London and Toronto. The newspaper also cited China's CNOOC and China National Petroleum Corporation as possible bidders'

[bluepill] 09/6/2009 01:20

'Sinopec, CNPC and CNOOC, the Chinese oil groups, have also been seen as possible bidders for Addax'