Black Rock Share Discussion Threads

[captainnelsonforties] 29/8/2008 02:18

Granny,

surely that was a bit excessive fundraising? I would easily have went with Rubiales bidding just $200m for Black Rock. ;) Well it seems like a few delays on the deal to secure the future of BLR. I thought that the release was slightly positive rather than neutral. We clearly have enough cash on hand to see us through to the year end. True to form Kappa were preventing progress on the reserve report. now things can move along on that front. The reserve report based on the most recent information including new seismic should reflect a greater potential for Acacia especially. This may work in our favour and may be what the management are working for, buying us some time. Maximize our asset value before agreeing a deal. If we secure $2+ for Monterey and the rest of our North Sea block then we'll be sailing.

Stuey hit the nail on the head showing the breakdown of the value of Las quinchas from the buyout of Kappa by Rubiales. We have our 25.5% of those finds. Rubilaes are pumping the oil, now well funded and hopefully about to progress our assets. A lot can happen over the next 3 months so I'm more than happy to wait. I cannot complain, I was hoping for a quick exit after coming in here a few weeks ago, but am a newcomer compared to many on here so not in a position to complain. If BLR secure a deal on monty, merger or some sort of financing there is real scope for a significant % increase in our market value. The fact that BLR have enough cash to self-fund for 3 more months was better than I hoped for. A lot can happen in that space of time, all to play for yet. Come on Rubiales and Prospero sink Acacia-3 and get get us back in business on Arce. ;) Lets face it Rubiales have to spend that $220m somewhere.

Captain Nelson Forties

[granny7] 28/8/2008 23:09

These boys are ramping up their cash position to attack Acre with every kettle they can afford to buy. Stay out of Comets for awhile.


Pacific Rubiales Closes $220MM Convertible Debenture Offering
Pacific Rubiales Energy Corp. Thursday, August 28, 2008


Pacific Rubiales Energy Corp. has closed its offering of $220 million principal amount of 8% convertible unsecured subordinated debentures, due August 29, 2013 and convertible into common shares of the Company at $13.00 per share.

A syndicate of underwriters, led by GMP Securities L.P., and including Canaccord Capital Corporation, Cormark Securities Inc., Macquarie Capital Markets Canada Ltd. and Thomas Weisel Partners Canada Inc., purchased the convertible debentures. The underwriters

Related Products

Fundamentals of Hedging with Energy Options

Fundamentals of Trading Energy Futures and Options, 2nd Ed.


also exercised at closing the over-allotment option to purchase an additional $20 million principal amount of debentures at the same offering price, to cover over-allotments, if any, and for market stabilization purposes.

Pacific Rubiales will use the net proceeds of the offering to pay for the previously announced acquisition of Kappa Energy Holdings Ltd., which is expected to close in early September 2008. Any excess funds will be used for the general working capital requirements of the Company.

[jimarilo] 28/8/2008 21:54

Now that would some sort of consolidation ;-)

[maxk] 28/8/2008 20:14

A pound would do me Fut....ramp ramp ramp !

[futhark] 28/8/2008 18:41

Ok maxk just for you. this is going to be a £1 by Monday...Will that do?

[maxk] 28/8/2008 18:21

So Barclays nominees now hold an extra 304751 shares in the 'crock.


Is it a cunning takeover ploy via nominee accounts by some mysterious preditor or a bunch of deluded small time punters making a serious, no, possibly fatal mistake?

Cos if its the later, I donk see much ramping to accompany it.


Questions, questions.

[futhark] 28/8/2008 17:56

Somebody's buying.
RNS Number : 2598C
Black Rock Oil & Gas PLC
28 August 2008


For immediate release

28 August 2008


Black Rock Oil & Gas plc

('Black Rock' or the 'Company')

Significant Shareholding


The Board of Black Rock (stock code: BLR) announces that it was informed on 28 August 2008 that Barclays PLC through Barclays Stockbrokers Ltd holds the total voting rights attaching to 3,268,490 ordinary shares in the share capital of the Company representing 10.16% of the total voting rights in the Company.

[audereestfacere] 28/8/2008 17:03

To make a market while there is one in BLR.

[maxk] 28/8/2008 15:49

If it's curtains for the 'crock, why are the mm's buying?

[audereestfacere] 28/8/2008 15:20

A rights issue? The issue is whether anybody in their right mind would put money into this company in its current predicament.

[patchway] 28/8/2008 14:59

Why would anyone pay for this when they can steal it at liquidation?
To get any value BLR have to cut the carry cost of the assets to Zero.

Is this the stage after capitulation and if so what is it called?

Jim, RBS have lost blns but their cashflow is positive. What price a BLR Rights Issue?

[maxk] 28/8/2008 14:42

No trades showing up today so far, but never mind lets drop the price anyway.

[jimarilo] 28/8/2008 14:16

If there is no news between now and the year end, it's obvious whats going to happen

Ouch ! in deed ;-(

Hell there is oil companies fully funded and striking oil and the share price still goes down

What chance have BLR got in this market ?

Yet RBS loose Bln's ££££ and they are blue again today ....weird

[futhark] 28/8/2008 13:08

Ouch! enough to bring tears to your eyes!

[audereestfacere] 28/8/2008 13:02

The directors have been suspended by their bonuses!

[futhark] 28/8/2008 12:58

maxk, by a rope around its neck?

[jimarilo] 28/8/2008 12:39

Cheers Steel !

[maxk] 28/8/2008 11:43

Has the 'crock been suspended?

[steelwatch] 28/8/2008 08:40

Just an interested onlooker these days, but these chaps seem to be up and coming in Colombia and are already in cahoots with Pacific Rubiales:

[futhark] 28/8/2008 08:30

morning fellow sufferers.

[maxk] 28/8/2008 00:28

Well, its one or the other avvy.

I take it you are not having a punt this time around?

[knowing] 28/8/2008 00:24

This is better Maxk

[jimarilo] 28/8/2008 00:16

BLR the slowest death ever recorded imo !

Everyone has been sucked in yet again, I can imagine some poor sods on T20's looking for some up-side at the end of this month

How can they state deadlines and miss so many of them, clearly not right

If this ever picks up from here now, it will be on par with Moses and the parting of the seas ;-(