Capricorn Energy Share Discussion Threads

[controlledmadness] 05/12/2022 09:55

Hi see Merrill Lynch and Goldman Sacks are down for over 20 percent and 10 percent to 9 percent and under 1 percent respectively.
What has happened that they are jumping ship or changing their mind and taking profits.
Silver1 who exactly are you saying opposes the merger as early on you were saying Merrill Lynch?

[badger60] 02/12/2022 08:38

suetAgreed mate . Common sense does not prevail when faced with a greedy uncaring BOD looking to line their pockets.......without having to work for it and and necessarily at the shareholders expense.

[suetballs] 02/12/2022 06:19

badger the current board want out - so no chance of staying independent imo.
Suet

[badger60] 02/12/2022 05:54

Stay independent and buy Deltic. There will be lots more up for grabs to develop coming from HMG. CNE and Deltic is an ideal fit imo.....plenty to get stuck into with 5 joint drills already in the pipeline ( Shell like Deltic assets), and the cash to develop it .

[p6r0] 01/12/2022 15:35

Silver,
We have been waiting for an eternity with this BOD!
Hopefully anley is right and a major shareholder calls an EGM to force the boards hand. Otherwise this self serving management will do what is best for them rather than long suffering shareholders.
The CFO is currently asking shareholders to vote on disposing of the share premium account, which will have to be passed by 75% of shareholders and the court. This the company says, will allow it to use the premium share account proceeds to make additional payments to shareholders, a special dividend or purchase its own shares.
We know which is the most likely of these three options. I would wager on the purchase of its own shares as this will improve EPS and provide bigger bonuses for the BOD!
It is way past time for a major shareholder to hold these self serving city gents to account.
I agree with you that the break up value is far greater than the Newmed deal which is a non starter, as was the deal with TLW both recommended by our incompetent board. But until they are forced by shareholders the BOD will keep milking the cow!

[silverstone1] 01/12/2022 14:40

WAIT FOR UP TO 360P PER SHARE!

[anley] 29/11/2022 12:55

Some action is about to happen.............one of the Yankie's with over 6% says he may call an EGM but there is still no deal with NewMed - terms and conditions.

[geckotheglorious] 17/11/2022 20:06

Oil – "Windfall Tax"
Fossil fuel producers are now forecast by the government to pay an extra £80bn in tax by 2028 after Hunt hiked the 25% energy profits levy imposed in May to 35%. That’s on top of the 40% corporation tax the sector already pays, well in advance of the general rate of corporation tax, set to rise to 25% next year, which means their overall tax burden shoots to 75% or three-quarters of eligible profits.

Oil and gas company shares were largely unmoved as the sector had expected the hit after outgoing Shell boss Ben van Beurden said the burden of helping consumers through the energy crisis should fall on corporate shoulders.

‘That’s partly why the reaction has been relatively muted in terms of their share prices, with Shell ;[SHEL] dipping 0.3% while BP [BP] has fallen by 0.6%,’ said Susannah Streeter, senior analyst at broker Hargreaves Lansdown.

Nevertheless, the move has not gone unopposed with Linda Cook, chief executive of North Sea producer Harbour Energy complaining in a letter yesterday to the Financial Times about the tax burden.

‘For companies like ours to invest, we need to borrow. To borrow, we are required to hedge our commodity price risk. This means we do not realise the benefit of market oil and gas prices. Yet we are taxed as those that do and have already seen a more than 50% increase in UK tax,’ she wrote.

[anley] 17/11/2022 16:32

Thanks for the info...........what we need to do is wait for company announcements as and when.

[silverstone1] 17/11/2022 15:10

WE KNOW IT'S LOWER THAN THE TLW MERGER THRESHOLD OF 75% WITH A SIMILAR OUTCOME BECAUSE THE MAJORITY OF CNE SHAREHOLDERS WANT UP TO 360P PER SHARE!

[anley] 16/11/2022 15:31

I totally agree and I see that yesterday ML went from 4 to 13% all on SWAP deals.

What is the required threshold or just point me in the right direction please.

Thanks as I too wish to get to the bottom of this deal.

[silverstone1] 16/11/2022 08:22

INSTITUTIONAL OPPOSITION MEANS THAT THE REQUIRED THRESHOLD CANNOT BE ACHIEVED!

[anley] 14/11/2022 16:29

SILVER.............interesting comment so please tell me how come the NewMed deal is dead.

Thanks

[churchill2] 05/11/2022 21:47

Good question. If you read 7403 and 7404 the calculation is there.The problem is that both the NewMed share price and the shekel/pound move on a daily basis. It will be interesting to see how Capricorn intend to overcome this conundrum. The obvious solution would be NewMed pay the 99p in cash. Share price manipulation is not feasible.

[silverstone1] 05/11/2022 21:40

IT'S IRRELEVANT BECAUSE THE NWMD MERGER IS DEAD!

[controlledmadness] 05/11/2022 07:59

Can anyone explain in simple terms what the calculation will be for the adjusted exchange ratio?
Is it just the number of shares issued or does it involve share price and exchange rates and how independent is it on share price manipulation.

[churchill2] 02/11/2022 19:51

I would have thought that was pretty obvious. The minimum the Institutions will expect is 271p.
There were two parts to that package with 172p being returned to shareholders in cash which looks safe as long as the pound/dollar rate holds up which is the first part.
The second part is the exchange ratio cobbled up by the two boards which currently is valued at 86p so unless the NewMed share price recovers allied to a more favourable shekel exchange rate a revised exchange ratio will be required.
The Institutions will be expecting a minimum return at 271p in three to four months and pushing hard to get a fair return in excess of £3 pounds for all shareholders.
NewMed/Capricorn will at some stage need to renegotiate?









As I see it the Institutions will be expecting a decent return over the next three to four months at 271p plus they will be exerting huge pressure to ensure that a fair return for all shareholders in excess of £3.
It begs the question would NewMed tolerate a heavy revision to the exchange ratio

[anley] 02/11/2022 14:30

Goldman S has 10% so its joining the party - which way will it vote?

[adg] 31/10/2022 09:05

Was just having a bit of sport with him/her Suet - to fill the long silent gaps on here, soz. Won’t engage again
I’m thinking of just selling our @250p and buying LGEN for boring 8% divi

[suetballs] 31/10/2022 08:59

He won't - filter him - we all need to ignore him.
Suet

[adg] 31/10/2022 08:37

🎃
If any of my brokers permanently wrote to me in CAPITALS they would be my ex-stockbroker and labelled a nobhead

The idea of using CAPITALS to emphasise a particular point or an issue can have merits, but to use it in every communication is just plain childish, it also loses its intended effect. Also it is also particularly irritating not to mention generally being considered as very rude……

Please stop it

[silverstone1] 31/10/2022 08:10

WHEN I WAS A STOCKBROKER, CAPITAL LETTERS INCREASED MY REVENUE, THAT'S WHY DONALD TRUMP WRITES IN CAPITAL LETTERS AND HE'S ONE OF THE RICHEST MEN IN THE WORLD!

[adg] 31/10/2022 07:31

DID YOU DO YOUR LETTER IN BIG SHOUTY LETTERS ?

IF YOU DIDN’T THEN MAYBE RESEND YOUR PLAN IN BIG SHOUTY LETTERS BECAUSE PEOPLE TEND TO LISTEN MORE WHEN YOU SHOUT AT THEM….. IT’S A FACT !!! HONEST !!!

[silverstone1] 30/10/2022 21:17

I POSTED MY PLAN TO CNE HQ MONTHS AGO!

[adg] 30/10/2022 10:10

OH THEY MUST HAVE CHECKED UP ON HERE AND COPIED YOUR IDEA !?!? ………;
WHY DON’T YOUS SEND THEM A “SHOUTY LETTER” ?