Capricorn Energy Share Discussion Threads

[suetballs] 05/4/2023 10:20

Yep - the truth will be out - never really trusted the old Board.
Suet

[anley] 05/4/2023 09:59

Roll on 27 April for the new board's circular........they will I am sure give us the Good - Bad and the Ugly.

[nigelpm] 29/3/2023 14:43

still wouldn't touch the sides would it? Particularly with >$500m cash balance.

[dunderheed] 29/3/2023 08:21

Actually Nigel Cairn used to have very high g&a costs and I can remember(maybe incorrectly!) Gemmil or whatever his name was, ex Scotland rugby chap, having a good bye million bonus stopped by the Board one time, plus Simon T was on about a million nominal so there's always been an image of gravy train there, I think?!
Which was I asked hsf as a reminder.

[nigelpm] 29/3/2023 08:08

lol - I can't imagine redundancy costs will even touch the sides.

[dunderheed] 29/3/2023 07:59

What do you know of these outstandingly generous redundancy terms hsf?
Apologies I asked before, are you ex-Cairn/Capricorn and I know you answered but I forgot your response!?

[hsfinch] 29/3/2023 07:53

Outlandishly generous redundancy terms paid to staff will take a chunk out of shareholder funds. In these circumstances, why pay a penny more than legal liability? I guess it's easy to be generous with other people's money.

[silverstone1] 28/3/2023 14:28

LET'S NOT FORGET THAT CNE SHAREHOLDERS WERE ONLY OFFERED A SPECIAL DIVIDEND OF $1.92 PER SHARE PLUS 10.3% OF THE COMBINED GROUP, THEREFORE, PALLISER'S ALTERNATIVE PROPOSAL IS SUPERIOR!

[churchill2] 28/3/2023 12:15

Let’s not forget Capricorn were offering 890 ILS at an exchange rate of 260 ILS in their merger terms with NewMed.
This proposed offer for NewMed looks in the region of 950 ILS at an exchange rate of 229 ILS.
In hindsight the 99p we were offered in addition to our lump sum payment was always going to be difficult to achieve.

[dunderheed] 28/3/2023 10:54

Maybe they were looking for "simple" income anyway but yes they could have re-invested elsewhere as well, with potential short term uplift.

[nigelpm] 28/3/2023 10:35

Perhaps. It did amuse me though that potentially they've done themselves out of a quick return.

[dunderheed] 28/3/2023 10:25

Fair enough but they may not have taken over the combined entity - I think Capricorn management have (had!) a "reputation" for being a little self serving and maverick?
I didn't like the Egyptian acquisition at all - especially for "relatively inexperienced" operator like Capricorn and then just Egypt per se - obviously BP / ADNOC do - but it must be said ADNOC will have had the political clout that Capricorn will not have had?
All IMHO and interesting development as well, LOL!

[nigelpm] 28/3/2023 10:19

Correct - the latter.

[dunderheed] 28/3/2023 09:10

Why's that a "palls" up Nige?
BP ADNOC, will be much better operators hence Capricorn can (confidently) man down and hopefully salvage something from the ridiculous Egyptian venture in the first place?
Are you inferring had they gone ahead with merger then the combined entity would have been taken over at a premium for Capricorn "old holders"?

[nigelpm] 28/3/2023 08:51

What a "palls" up - NewMed just been bid for!

[silverstone1] 27/3/2023 13:47

PALLISER HAVE ALREADY ESTIMATED 350P PER SHARE, HOWEVER, MY ESTIMATION IS BETWEEN 360P AND 489P PER SHARE, DEPENDING ON CONTINGENCY PAYMENTS!

[controlledmadness] 27/3/2023 09:23

Are you guaranteeing that return.

[silverstone1] 24/3/2023 11:35

A SUBSTANTIALLY REDUCED HEADCOUNT WILL ENABLE PALLISER TO MAKE A SUBSTANTIAL RETURN OF CAPITAL TO SHAREHOLDERS; I EXPECT A RETURN OF UP TO TWICE THE CURRENT SHARE PRICE!

[anley] 22/3/2023 16:43

Looks as if you have moved the market today and if you have then thanks!!

You and I are going to have to wait for the new management to tell us what they have and what they have found and then we will both have a clear idea as to exactly what the value of the business is.

Regards,

[silverstone1] 21/3/2023 18:08

ANLEY, THE NAV IS $300 MILLION OR $1 PER SHARE MORE THAN LAST MONTH, THEREFORE, THE NAV IS MORE THAN DOUBLE THE CURRENT SHARE PRICE!

[anley] 21/3/2023 15:57

SILVER......what are you telling us please?

[silverstone1] 20/3/2023 15:00

A 30% SHARE OF 200 MILLION BARRELS OF OIL IS 60 MILLION BARRELS OF OIL AND A GROSS PROFIT OF $5 PER BARREL IS $300 MILLION OR $1 PER SHARE!

[anley] 17/3/2023 15:13

I agree WILLIE - a good find but like most events at the moment the markets give it no credit.

I bought a few more simply because the cash must be earing enough to pay the day to day running costs and the rest of the assets are producing so it will be interesting to find out what the new management team has found when they report in May.

[willie99] 17/3/2023 10:13

Heads up chaps and chapesses, we have a positive drilling result from ENI’s well in Mexico. CNE have 30% WI. Something positive to end the week on…