Anzon Energy Share Discussion Threads

[stephenwilson] 24/10/2007 08:31

Cant understand why this is lanquishing at a 26% discount to the proposed merger offer. There seems to be little buying going on. What have I missed?

[petoil] 24/10/2007 08:17

Anzon Australia has approved a merger offer by Arc Energy, which will see Arc buy all of the issued shares of Anzon for a total of A$708 million ($638 million).

Anzon said Arc was offering a mix of cash and share alternatives, which valued Anzon shares at A$1.87 per share.

The merger represents the conclusion of the strategic review process announced by Anzon on 27 August after a number of approaches were made for the company.

In an interview with corporatefile.com.au, Arc's managing director Eric Streitberg said Anzon shareholders will hold just over 50% of the merged group.

Streitberg added that the merged company would have an enterprise value of well over $1 billion, putting in the top tier of the independent oil and gas sector in Australia

"I think the company will be the most exciting independent oil and gas company in Australia and I am delighted we have been able to build it to this point," he said.

[bomfin] 24/10/2007 08:08

Fair value of merger stated at £1.39/AEL share.

AEL still at significant discount.

Also far less risk with an investment in many oil and gas interests in Australia.

I've personally decided that Australia is a place I want to be invested. Still hugely underdeveloped with population of about 20 million.

[stephenwilson] 23/10/2007 14:36

From the Oz BB courtesy of Esoter1c on III:

ARC wins race for for Anzon oil, gas

Nigel Wilson ,Energy writer

October 23, 2007

ERIC Streitberg's ARC Energy has won the tender for Anzon Australia and rocketed to the third tier of listed oil and gas companies, with a combined market capitalisation of more than $1.1 billion.

ARC and Anzon yesterday announced they were negotiating the final terms of a proposed merger - the outcome of a tender process begun by Anzon earlier this year.

They requested a trading halt in the shares of both companies.

ARC is understood to have beaten off proposals by Santos, Origin Energy and Australian Worldwide Exploration - all eager to pick up Anzon' key asset.

Anzon is a 40 per cent stakeholder and operates the Basker-Manta-Gummy oil and gas project in Bass Strait in a joint venture with Beach Petroleum (40 per cent) and the Japanese giant trading house Itochu, which earlier this year paid $226 million for a 20 per cent stake.

ARC is an equity partner in the BassGas project based on the Yolla gas field, also in Bass Strait, and has equity in the Cliff Head oilfield near Dongara in Western Australia, both of which were acquired earlier this year when ARC bought the Mitsui offshoot Wandoo Petroleum.

ARC is currently undertaking an extensive exploration program in WA's onshore Canning basin underpinned by a $40 million investment by Alcoa.

ARC and Anzon expect to release details of their merger to the market tomorrow, but progress may depend on Anzon rival Nexus Energy.

Nexus has proposed a merger with Anzon, but was excluded from the tender process, and Anzon's data room, after it was revealed that Nexus' major shareholder, Norwegian company Viking Shipping, was buying Anzon shares.

"We've been disciplined in seeking a way forward for Anzon Australia by a tender process, but Nexus never did submit a tender proposal or sign a confidentiality agreement," Anzon founder and chief executive Steve Koroknay said.

"We could not let them into the data room in all honesty to the other tenderers and while Viking was buying our shares."

Anzon Australia is owned 53 per cent by London Alternative Investment Market-listed Anzon Energy.

But Anzon Energy had not been prepared to provide funding or dilute its stake, as Anzon Australia sought to move away from being a single project investor, a situation Mr Koroknay said financiers regarded as a negative.

Last year, Anzon Australia made an acrimonious and ultimately unsuccessful $171 million all-scrip bid for Nexus Energy, which left it with a 12.4 per cent stake.

Nexus has reported that it holds 16.4 per cent of Anzon.

It was the failure of Anzon's bid for Nexus that led to preliminary discussions with ARC.

--------------------------------------------------------------------------------

[p@] 23/10/2007 14:11

Bom -yeah but the eggs in our basket are good,thats why everyone wants them.
A bird in the hand etc.

[bomfin] 23/10/2007 10:39

Did some research on Arc.

Arc just about to test a well. Potential discovery onshore Canning basin. they have big area there and if this is a discovery could be mega. Also have big interest in bass straight fairly near to Anzon interests and Perth basin interest. Latest presentation states the oil discovery earlier this year could be as big as Roc's Cliff Head field. Also reckon the gas discovery made earlier this year could be commercial.

If they merge takes the discount of having all eggs in one basket out of AEL share price. IMHO DYOR

[markfrankie] 23/10/2007 10:30

so if anzonAus merge with arc then nexus % in anzon is less?(are anzonAus doing this to keep nexus at arms distance)
also anzonEn % of anzonAus is less therefore we lose control? although our % is less our territory is more. ?

any bright sparks out there with this sort of thing under there belt ? comments please,

[p@] 22/10/2007 21:09

Cleo-Thnks
Anzon Energy says Anzon Australia unit plans to merge with ARC Energy

LONDON (Thomson Financial) - Anzon Energy Ltd said its unit Anzon AustraliaLtd is negotiating the final merger terms with ARC Energy Ltd and both thecompanies have requested trading halt for two days pending the outcome of the
talks.
Anzon Australia received a number of proposals and has elected to pursue the
merger with ARC on an exclusive basis, it added.

[karlos885] 22/10/2007 16:44

judging by all the big share trades over the last few days this will be good for the share price.

[cleo1601] 22/10/2007 16:40

gonna marry ARC i fink

[greatfull dead] 22/10/2007 14:28

wonder where this is going..................

[p@] 22/10/2007 14:02

How many shares in Nexus does Anzon still hold?

Will Anzon bid for Nexus?

[p@] 22/10/2007 13:36

LONDON (Thomson Financial) - Anzon Energy Ltd said Nexus Energy Ltd has
increased its interest in Anzon Australia Ltd by 5.40 mln shares to about 66.12
mln shares, or 17.84 pct of the company.
The company said it was informed that Nexus holds 13.56 mln shares in its
own name.
[e-mail]

[spacko] 22/10/2007 13:21

Good grief - blue in a sea of red.

[bomfin] 22/10/2007 08:04

nxs still adding shares. Somebody may yet try to play a trump card. imho

[cleo1601] 22/10/2007 07:51

interesting is one way to put it GD. I've polished my tin helmet.

[greatfull dead] 22/10/2007 07:50

Cleo, should be an interesting week.

[cleo1601] 22/10/2007 07:42

merging with ARC?

[jonno1] 19/10/2007 10:25

30000 buy @109 nice!

[petoil] 16/10/2007 14:20

Some comments from nexus.

[cleo1601] 15/10/2007 17:02

Hi smudge
Not to worry, anytime you can or wish to it would be very welcome but we've perhaps moved into a different space since my request and soon the value will depend on whatever predators are prepared to squabble the share price up to perhaps?

Let's hope someone is stake-building - better than the opposite, that's for sure.

I'll leave the lights on this time in case anyone else pops in...

[smudgeroo] 15/10/2007 16:55

Still here Cleo, just waiting patiently.

I never did get round to having a go at giving AZA a valuation based upon it's assets so please accept my apologies on not getting back to you.

The large trades today look interesting, the stake building continues?

[cleo1601] 15/10/2007 16:49

some hefty trades today, but board's gone quiet

[karlos885] 11/10/2007 13:12

More developements,

[bomfin] 10/10/2007 13:59

I've got my stop in place and it's a lot higher than what I bought at. I won't be selling until this is played out one way or the other.