Cabot Energy Share Discussion Threads

[buggy] 13/7/2018 22:35

sg31,

My very point. The last lot are just there going through the motions and collecting salaries. the have no stake whatsoever in the company, no personal investment except for options they got at 1p each, nominal value hence there is hardly anything they can loose if share price stagnates. they are well paid and as long as they can keep raising money and getting paid they are more than happy.

If they had any faith in the prospect for the company you think they would have backed themselves by having a personal holding in the company.


At least H2P paid 5p per share for their shareholding so they do have something to lose, same as other PI.

My personal opinion is that price will stagnate until the previous lot have totally left the company which will be within the next 2 months and they have mostly exercise their freebie options and sold them.

Currently there has not been any announcement from the new CEO so I imagine he is currently reviewing the assets and state of play. after this I would expect at least an indication of the strategic direction for the company.

I am a bit comforted that while I am at the moment under water, my average is less than 5p so before H2P sees any money on their investment I will also be in profit.

[sg31] 13/7/2018 19:31

This has been a lifestyle company for many years. The Canadian stuff is a waste of effort. Strange that NOP/CAB got control of it and not some Canadian outfit. Maybe the Cannucks looked at it and decided it wasn't worth the effort.

I asked some Canadian friends about the prospects when Bush was buying it, these friends are all involved in the oil industry, ones a geologist, others are drillers or oil/gas engineers. They were less than impressed.

NOP/ CAB is about one thing, the prospects they have in the waters around Italy. this little nugget says it all....

The Company acquired 620 km of 2D seismic across Vesta in 2006

12 years and they've done sweet F all with it.

If they ever progress the Italian stuff and strike lucky they will make money. If the last lot were in charge shareholders wouldn't have got a sniff of any money. They would have found a way to spend it. I don't know the new outfit maybe they are straight and will make something of the company, I'm not holding my breath.

[buggy] 13/7/2018 08:58

Glad to see that the old management has still got their snouts in the trough.


Great piece if incentive..... options at nominal value. Any wonder the major holders has decided to get rid of the chancers.

Still awaiting the communication of the strategic direction for the company by the current management but one thing is clear; current management can't be worse that the ones that were ejected from this company. At least P2P has skin in the play, they have actually invested money to acquire their position in the company so to some extent their aims aligns with the general PI. The old management did not ever put their hand in their pocket to buy shares... except offering themselves options at 1p, when the share was actually trading at significantly more than that.


Heck I even hold more shares that our erstwhile CEO. During the fund raising the management made a token gesture of taking part. [In placing and Open offer to raise $16M our CEO was able to subscribe to a total of £7,000 even though the open offer was less than 60% successful]. No wonder they were not that particular about performance of the company as long as they can draw salaries … they had nothing invested in the company personally and options at nominal value will always be in the money.

[forcemode] 20/6/2018 11:50

The new board must be really pleased with the start of this "new chapter of growth"....

[buggy] 18/6/2018 11:33

I suspected that it would not be long before High Power found out that the management are clueless.
Once they became the majority share holders, in fact they own CAB based on their shareholdings,I am pretty sure that would not have been happy at the performance since the funding at 5p a share. Neither will the other significant holders who put in their money.


New CEO; New Technical Officer and New Financial officer says all they need to say about what they thought about the management.

Hopefully the new people on board have a better idea what they are doing.

[maxk] 18/6/2018 10:26

The Prof on the front door will keep the riff-raff away, and everyone else too.


Cunning!

[bionicdog] 18/6/2018 09:38

He'll be disappointed then , same as if he asked for a rosé.
I'm thinking of putting the prof in charge of security.

[gosoftly7] 18/6/2018 09:35

Jaeger Bombs

[maxk] 18/6/2018 09:34

Anything that's going I would have thought.

Do you think they would get on with the Prof?

[bionicdog] 18/6/2018 09:18

I'm not sure. What do you thinks Keith drinks?

[maxk] 18/6/2018 08:49

Are you going to invite them to your summer soirée?

[bionicdog] 18/6/2018 08:36

I'm having a whip round for a leaving present.

[maxk] 18/6/2018 08:33

It took five years to turn the company around..

[maxk] 18/6/2018 08:22

Jonathan Murphy, independent non-executive Chairman, stated: "On behalf of Cabot Energy, I would like to thank Keith Bush and Nick Morgan for their contributions to the Company and their dedicated service as officers of the Company. We wish them the best of luck in their future endeavours."




See #62 above: Some contribution.

[bionicdog] 18/6/2018 08:03

More good news.

[buggy] 23/5/2018 06:37

Give them a year and they will fritter away the money and come back for a placing for working capital.

Even if you previously did not know know much about the company or its past history it's recent history would have provided ample clue:
...having director's exercise warrants at nominal value, 1p, is a good sign of management that is looking after themselves. [Apparently these warrants are in lieu of payments ...in spite of the hefty salaries that they are taking. Even in exercising the warrants they still did not dip into their pockets to pay for them but is apparently foregoing some future warrants as a means of payment. When you work out the number of shares being exercise and the future warrants that is being used to pay for these your head spins.
They exercised options for 3,132,227 shares at 1p each payed for by waiving rights for 691,000 shares. [ Complicated maths there if the options are at 1p each: 3,132,277 = 691,000]


For a board that is confident in their performance the warrants will be performance linked and at a sliding exercise price and not a nominal value. As it stands if by some miracle the share price was £2 per a share our directors will be exercising hefty warrants at 1p each????

For those that were gullible enough to take part in the placing at %p per a share ..they are already under water even before today's announcement which in effect says that the trumpeted new drillings that is supposed to be generating free cash flow is producing diddly squat between them.

[itsriskythat] 23/5/2018 06:26

Presentation on 14th June at Oil Capital. Usually a good sign that another raise is required by Cabot to fund future drilling and G&A.

[buggy] 23/5/2018 06:20

"Can't fool all the people all the time."


Those that know already knows and those that don't know will soon come to know.

[a2584728] 01/5/2018 07:59

Don't understand the drop

[a2584728] 25/4/2018 09:08

At some point the market will notice this and we will be off

[bionicdog] 25/4/2018 07:47

Italian Environmental Impact Assessment Approval
RNS
RNS Number : 0024M
Cabot Energy PLC
25 April 2018

Cabot Energy Plc
("Cabot Energy" or the "Company")
Italian Environmental Impact Assessment Approval
Cabot Energy (AIM:CAB), the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, announces that the Environmental Impact Assessment ("EIA"), which was submitted to the Italian Ministry of the Environment for the drilling of an exploration well on the Vesta prospect, offshore Sicily, has been approved by the Italian regulatory authorities.
The Vesta exploration prospect
§ Located in the 100% owned C.R.146 permit, 50 km offshore Sicily in 120 metres of water
§ The Company acquired 620 km of 2D seismic across Vesta in 2006
§ Target reservoirs are the Liassic and deeper Triassic formations
§ Internally estimated unrisked mean prospective resource of 430 mmbbls
§ Analogous with the nearby producing Vega oil field, which has produced 74 mmbbls of oil to date
With the receipt of the approval of the EIA, the Company will now seek a farm in partner prior to drilling the exploration well.
Keith Bush, Chief Executive Officer of Cabot Energy Plc, commented:
"The approval of the Vesta EIA is further evidence of our ability to work together with the Italian authorities to progress our high potential Italian assets. The Company is firmly committed to developing three to five company making exploration and appraisal events in Italy and will continue to work closely with the Italian authorities to advance the opportunities already identified within our portfolio."

[buggy] 20/4/2018 18:03

A2584727

I hope you noticed that the loss has increased markedly even though the output has increased.

I used to think that the objective of a sustainable business is to urn over a profit. In this case the cost of production seems to always outstrip the revenue. That is in spite of an average of 653 bopd even though management assures us that free cash flow will start to be generated at 400bopd.
Not sure the price is going anywhere until they can actually start turning over profit from production, not by some financial wizardry like writing some assets back into the profit column as a result of some assumed revaluation.


Anyway you are a supporter so would be glad that you have the opportunity to keep buying in at low price.

[a2584728] 19/4/2018 09:54

This will catch investors eye very soon and we will be off. It's all good news.