Capricorn Energy Share Discussion Threads

[willie99] 01/2/2023 15:31

We have a new board of directors. Pallisers’ nominations have been accepted.

[anley] 31/1/2023 17:40

FINKIE... you are catching up as the big EGM is on 22 Feb and that will chuck out the NewMed deal and the new board comes on board to look at all the assets/liabilities and what to do next.

That could take us in to April and in the meantime the shares could creep up slowly.

[finkie] 31/1/2023 11:32

Where do we go from here what is the outcome of the vote what are their next steps. My view is they did well winning against the Indian government but since then they have been beyond poor, murky mergers and intangible/unclear shareholder positions doesnt help them one iota.

[churchill2] 27/1/2023 19:40

Both of you can read my post 7478 on the 31st of December which proved to be accurate.

[churchill2] 27/1/2023 19:28

lostit
That deal involving NewMed is not going to happen as the Capricorn board have relinquished control. All will be revealed next week.
remslie
Same applies to you. As I understand it the dividend return was the money from the Indian settlement being returned to share holders which was not taxable. The new board formulated by Palliser will have a different approach from the previous management.
What does it all mean well hopefully in the course of tie I hope to get something over 300p but be careful of extravagant claims.

[remslie] 27/1/2023 15:58

Am I right in thinking that if you hold your stock outside your ISA you will be taxed at 40% on the dividend element
If so not great for most private shareholders
Capricorn have refused to clarify according to my broker

[lostit] 27/1/2023 15:13

According to my Broker if this goes through we get $1.92 Per share I. E. £1.59. Then 10% of the new company. After many years this will actually put me in profit. Have I missed something?

[controlledmadness] 27/1/2023 07:45

Silverstone. Looking at the financial statement for the half year I do not understand your thinking.
Net assets = share premium + retained earnings (there are a few other amounts).
So the share premium is already held in the assets.
To give what you say they will have to take on debt against the assets that are not in the balance sheet.

[anley] 26/1/2023 14:29

OK I will keep to my current 300p+ and I have bought some more today.

The Chairman of Deltic a chap called Mark Lappin used to work with one of the new directors called Mr Cox. They were both at Centrica and the fracking business which was closed down by our silly government.

When Palliser gain board control then these two chaps should get together and then Deltic who seem afraid to talk to anyone can then update its shareholders.

Thanks SILVERS

[silverstone1] 26/1/2023 14:07

PATIENCE WILL BE REWARDED BECAUSE CNE HAVE CASH OF UP TO 214P PER SHARE, ASSETS OF UP TO 146P PER SHARE AND A SHARE PREMIUM ACCOUNT OF UP TO 129P PER SHARE, TOTAL VALUATION OF UP TO 489P PER SHARE!

[anley] 26/1/2023 12:02

How do you value SILVERSTONE as I think more like 300p+ hence my last post a week back when I said a "good 50p+ in this".

[silverstone1] 25/1/2023 22:40

PALLISER SHOULD BE ABLE TO EXTRACT BETWEEN 360P AND 489P PER SHARE!

[p6r0] 25/1/2023 17:08

Yes for now, things are very much up in the air. The market dislikes uncertainty hence the drop in share price. However once the new board convene after the GM and flesh out their plans, I feel that things will improve in terms of price.I may even use any weakness to increase my holding whilst the alternative options are being mulled over by the newly elected BOD.

[controlledmadness] 25/1/2023 16:16

I see the result of a Palliser win is a lower share price.

[suetballs] 25/1/2023 15:34

Well out with the old and in with the new. Here’s hoping the new lot can extract a higher value for our assets - and that they can do it in a reasonable timeframe.
Suet

[remslie] 24/1/2023 15:07

It was unclear whether the NEwmed transaction was going to be subject to income tax for the dividend element or whether there was a capital alternative. If there was no capital alternative it would have been worse than the tullow deal as I understand it unless you held stock in an ISA. There was no clarification on this point from Capricorn.

[anley] 24/1/2023 14:55

Just as a matter of interest it looks to me that Palliser and a few of the other funds who will stop the NewMed deal all bought in around the 225p++ area and with their cost incurred in EGM notice and legal fees I will gamble and say 250p.

250p x return on capital of XXXX% - so there could be 50p in this in 2023.

Any other suggestions???

[anley] 24/1/2023 14:50

"NewMed said it would continue to consider its strategic alternatives, as the prospects for its merger with Capricorn grew dimmer."

That was part of the disclosure announcement which in effect puts that acquisition to sleep - unless CNE gets a much better deal which I doubt.

So CNE is left with income producing assets and cash and I suspect that by early MARCH a new board will have gone through the books enabling them to tell shareholders just what they are going to do.

In the meantime what will happen to the 5 Deltic Energy JV licences - will CNE wish to develop the two promising ones or would the new board wish to carry on with their development.

It is up to Deltic to find out just what may happen to these assets.........????

[tonysss13] 24/1/2023 12:38

*NewMed says transaction w/Capricorn unlikely to go ahead on resignation of board members

[silverstone1] 24/1/2023 11:56

THE CNE BOARD OF DIRECTORS TRIED TO PULL A FAST ONE BY VOTING ON ALL THE PROPOSED NWMD MERGER RESOLUTIONS IN THE MORNING AND ALL THE PROPOSED PALLISER RESOLUTIONS IN THE AFTERNOON, THEREFORE, IT WAS TIME TO FALL ON THEIR SWORDS!

[xxx] 24/1/2023 11:18

The future is always unclear, but prospects for the business can only be improved by the departure of serially hopeless Thompson and possibly worse Giadrossi. Key enablers to follow...

[churchill2] 24/1/2023 10:59

The current Board has seen the writing on the wall and gone thankfully. Now it’s up to Palliser etc to get shareholders the best deal possible. It may take some time but I am prepared to wait especially if it means a return in excess of 300p.

[dunderheed] 24/1/2023 10:56

Lol blimey o'reilly.

[anley] 24/1/2023 10:32

Posters need to read today's statement..........good news.

[anley] 18/1/2023 11:43

Agree..........