Antrim Egy Share Discussion Threads

[fireplace22] 02/12/2015 13:30

HugePants, Think the tax losses are only usable by a company in a similar business. As most oil explorers are currently under water are tax losses high on their Christmas present wish lists? Cash burn gives the management a three year free ride. Love to be proved wrong on both counts.

[hugepants] 02/12/2015 13:22

Maybe the management deserve a bit credit for the reduction in decomissioning costs? They basically managed to knock $2M off the forecast cost by incorporation in a multi-well program.

So from these latest results most of the creditors and debtors cancel out since they are the decommissioning liabilities (creditors) and amounts owed by other parties for their share of the decommissioning (debtors).

So Antrim is now pretty much a cash shell with 3.25p cash. Other assets are the irish licence and the significant tax losses(?). Cash burn is less than 1p per annum and that includes some capital expenditure.

So definetly very cheap at 1.5p to buy

Regarding the tax losses can anyone give an example of a company that has managed to extract the value successfully. Maybe by acquisition?

[malctim70] 27/11/2015 10:42

Not showing

[kirk 6] 19/11/2015 16:07

Why don't they issue an end and cut the carp and just say see previous

[talkman2] 17/11/2015 15:41

This BOD is really dynamic. They really know hoe to earn theirr corn. its another one of those Aim lifestyle companies.

[haydock] 17/11/2015 09:39

Not in at the moment, watching !
Here is your good news, they gave it away originally, & it's quite an interesting area at the moment.

In addition the Company anticipates, subject to finalization and government approval of the transfer of Kosmos Energy Ireland's ("Kosmos") interest in Frontier Exploration Licence ("FEL") 1/13 to Antrim, obtaining at no further cost a 100% working interest in this highly prospective area in the Porcupine Basin offshore Ireland's west coast.

[hugepants] 17/11/2015 09:14

On the face of it AEY is great value. 1.5p to buy and has 3.3p cash per share.
If they can do a deal that utilises the tax losses we'll be laughing.

[loverat] 17/11/2015 09:05

This one looks dead in the water and the market not impressed. Perhaps with this company it is a question of trust.

There are one or two other bombed out oil companies which are just holding cash. Has anyone checked out GED. MC of 40% of the cash balance and assets in Columbia.

No ramp intended but there seem to be a few bargains around and better than this it seems.

[linton78] 17/11/2015 08:58

Talkman - agreed. Nothing going to happen here in this environment. I have resigned myself to a write-off on these shares - its not worth selling the loss I am sitting on!!

[talkman2] 17/11/2015 07:58

Very exciting corporate up date . Very active . They have s not some invoices which have been received .

The rest is corporate waffle , exactly what they said a year ago . I sold recently . Nothing is going to happen here .

[ohisay] 17/11/2015 07:48

Antrim Energy Inc. ("Antrim" or "the Company") (TSX VENTURE:AEN)(AIM:AEY), an international oil and gas exploration company, is pleased to announce that, post completion of the Fyne and Erne abandonment programme in September 2015, amounts invoiced to its former joint venture partners for their portion of the abandonment costs have now been received.

The Company, with its current cash resources, and with no debt and no decommissioning obligations, is in a strong financial position. Estimated unrestricted cash on hand, less trade payables is US$9.7 million (CAD $0.07 per share)(1). In addition the Company anticipates, subject to finalization and government approval of the transfer of Kosmos Energy Ireland's ("Kosmos") interest in Frontier Exploration Licence ("FEL") 1/13 to Antrim, obtaining at no further cost a 100% working interest in this highly prospective area in the Porcupine Basin offshore Ireland's west coast.

With respect to the Company's plans to look for M&A opportunities, there is growing consensus that oil and gas sector M&A activity should increase. Antrim will continue to assess opportunities based on, amongst other criteria, strategic fit, focus on near term appraisal / development, use of funds, transformative potential with upside potential for Antrim shareholders and current or near term cash flow.

Bla bla zzzz

[canigou2] 15/11/2015 20:28

.. actually, subtract another 3m usd for the well abandonment and add a bullet point about kosmos exiting their skellig blocks.

That leaves them with approx. 10m usd cash (still 2.5x the mkt cap). I do wish they would pull a rabbit from the hat and surprise us with something!

[canigou2] 15/11/2015 20:07

Just read Q2 but subtract about 1m usd cash..

[hugepants] 15/11/2015 19:59

Q3 results tomorrow?

[linton78] 10/11/2015 10:22

Hopefully this rubbish is sold off by then! What a dire "investment" this has been.

[seangwhite] 07/11/2015 18:17

When is the next AGM as it would be useful to meet our nonperforming BOD.VGLTA

[seangwhite] 03/11/2015 09:08

Anyone tried to contact the BOD to see if they are still there.VGLTA

[seangwhite] 27/10/2015 08:38

Looks like the BOD are still asleep at the wheel.Without doubt the worst BOD in the E&P sector and that is saying something.VGLTA

[oilretire] 14/10/2015 15:55

Yes sean, a few of us have been saying that for a very long time, you included iirc.Can't believe they are still in charge of our very valuable cash pot - the only hope for long termers is for it to be invested wisely - not sure this lot are capable!!

[colin12345678] 14/10/2015 14:10

well it being brought +23%