Celsius Resources Share Discussion Threads

[crab4t] 21/6/2006 13:24

To the brink and then--------- abandon ship.Explanation likely______NOT!! Regards Crabby.

[mirandaj] 21/6/2006 12:36

Here is the update and here we go again - a long Summer ahead?


21 June, 2006



CORDILLERA RESOURCES PLC

('Cordillera' or the 'Company')


Update re. Acquisition of Continental Petroleum Limited


Cordillera Resources Plc (the AIM listed company (Ticker:CLA)) entered into a
Share Purchase Agreement on 20 December 2005, to acquire Continental Petroleum
Limited (Agreement). The Acquisition was subject to various conditions,
including satisfactory due diligence on Continental Petroleum Limited.


The Company has been advised by its lawyers that procedural and other delays in
Russia have been such that it has not been possible to complete the acquisition
in time to satisfy the conditions of the Agreement. As such, the parties to the
Agreement have now entered into a Deed of Termination.


As a result of the Deed of Termination, AIM has agreed to extend the final date,
by which the Company must complete a reverse transaction, to 2 October 2006,
beyond which the Company's shares would be delisted from trading. The Company
has now commenced reviewing other projects and the Directors are confident that
they will be able to identify other opportunities suitable for investment.



Contact Details


Mr Colin Orr Ewing Mr Hugh Oram

Cordillera Resources Plc Nabarro Wells & Co

Chairman Nominated Advisor

[phone] [phone]

[macansy77] 15/6/2006 10:48

Jpuff - i'm waiting (yet again!) for Mr Orr-Ewing to get back in contact for an update but as you say, now is hardly the best time for CLA to come back - bloody typical, they've had over 6 months to sort this out and they'll probably end up coming back right in the middle of this sh!t!!

[jpuff] 15/6/2006 10:44

Well it's mid June and no news. It's rather frustrating, but in the current market perhaps a longer wait will be worth while?

[jethr0] 07/6/2006 15:33

Rob BYF,
That info was in place when the reverse t/o was announced Rob! was hoping we'd hear rather more though!

[rob byf] 07/6/2006 13:59

I just had a note through to say the share consolidation was to be on the basis of 15:1. I assume you've all got the same? Rob

[jethr0] 07/6/2006 08:11

macansy77,
Mid June tomorrow, Have you heard any whispers at all, anything to keep my interest focused on a possible smidgeon of blue sky amongst my sea of almost crimson? maybe it wouldn't be a good time to complete the deal anyway with the market in the present state that it is, prob be better for us all on a bull run! IMHO

[jethr0] 08/5/2006 08:17

So it's back to sleep for another 5 weeks then!ZZZZZZZZZZZZZ

[macansy77] 05/5/2006 14:53

regards that CPR - i gather it's Scott Pickford.



Have also heard that we are looking at mid June earliest


It'd better be worth the wait and that CPR had better be bloody good...

[crab4t] 05/5/2006 12:32

Further info from Nab Wells suggests delays in Russia may mean no further news/progress reports before end June !! However ,completion of all necessary detail should result in substantial Investor benefit. Regards Crabby P.S. Anyone else not received copy of AGM notes yet?

[macansy77] 24/4/2006 12:01

crab4t - interesting indeed ;-)

i really want to see more info on the proven/probable/possible reserves etc. I'm sure this would've been part of the due dilligence process and i'd expect some form of CPR to confirm this. I remember way back in December speaking to Colin Orr-Ewing and him saying that a CPR had been carried out by one of the more respected firms but I can't remember who!


Anybody know who carried it out?


Obviously how well Continental is recieved when suspension is lifted will in the main be down to the size/prospect of those two blocks...

[crab4t] 24/4/2006 11:47

From penultimate para of Chairman"s statement---"development on Continentals concessions is imminent". Exciting stuff , especially considering gas/oil price increases since acquisition Dec 05. It will be very interesting to see share price reaction to news on development progress after re-listing. Regards Crabby.

[mirandaj] 23/4/2006 15:41

crab4t


"Before We get too excited about the valuation of £11.64, as Macansy pointed out, it should read £1.164. Regards Crabby."

Of course - what a difference a decimal point can make!

Many thanks for your input.

Miranda

[Abuse team] 23/4/2006 13:42

Post removed by ADVFN

[crab4t] 23/4/2006 13:32

Before We get too excited about the valuation of £11.64, as Macansy pointed out, it should read £1.164. Regards Crabby.

[mirandaj] 22/4/2006 12:34

These guys will be watching and waiting on Cordillera as we all are:

RNS Number:6576X
Draganfly Investments Ltd (DRG)
31 January 2006


Draganfly Investments Limited (the "Company")

31 January 2006

Interim results for the period from incorporation on 7 April 2005 to 31 October
2005


Chairman's Statement


I am pleased to report good progress during the first six months of the year.

Net Assets have risen from £3,050,000 (2.67p per share) upon AIM admission on 29
April 2005, to £3,534,421.42 (3.09p per share) on 31st October 2005. As at 31
December 2005, the NAV stands at 2.84p per share.

At the end of October, we held eight investments to reflect the size of the fund
and the original investment brief, which is to run a small and focused portfolio
of investments.

Of these eight holdings, two were pre-IPO investments, namely ACTA SpA ("ACTA")
and Continental Petroleum Limited ("Continental").

We have achieved an excellent strike rate with our pre-IPO investments and have
rapidly overcome the early disappointment of the non-completion of Russia Coal's
proposed deal in Southern Russia.

Most notably, in June, we participated in a pre-IPO funding round by ACTA, the
developer of platinum free catalysts for the fuel cell industry. ACTA shares
successfully admitted to trading on AIM on 4th October, yielding a 120 per cent.
return on our investment. We have subsequently top-sliced the position in order
to reduce our original entry price but ACTA remains a holding with the
portfolio.

In August we completed our second pre-IPO investment, participating in a private
placing by Continental. Continental recently announced their agreement to be
acquired subject to satisfactory due diligence and shareholder approval, by
Cordillera Resources PLC. This deal potentially values Continental at £11.64 per
share, representing an uplift of £197,000 (94 per cent.) on our original
investment. This uplift will not be reflected in our NAV until the enlarged
entity is re-admitted to AIM, most probably in early March 2006.

Subsequent to 31st October 2005, we secured a £400,000 credit facility to allow
us to deliver continued improved returns to our shareholders.

Since the period end we have made one pre-IPO investment and participated in a
secondary placing in AIM-listed Mercator Gold PLC, resulting in a total of ten
holdings. We are always alert to fresh investment opportunities but do not
anticipate materially increasing the number of holdings at this stage. We
believe the current environment for small companies and pre-IPO investments
remains very encouraging.

The portfolio of stocks as at 31st October 2005 comprised:

ACTA SpA
BDI Mining Corp.
Braemore Resources PLC
Cambrian Mining PLC
Continental Petroleum Ltd
GB Group PLC
Immedia Broadcasting PLC
United Clearing PLC

Subsequently we have added

Mercator Gold PLC
S.H.I.P


Mark Horrocks
Chairman


31 January 2006

[mirandaj] 21/4/2006 18:36

www.investegate.co.uk/article.aspx?id=200604211723018442B

5.23pm Friday 21st April

Cordillera Resources PLC
21 April 2006



CORDILLERA RESOURCES PLC

Results for the period 26 August 2004 to 31 October 2005


Chairman's statement

The year has seen slower progress for Cordillera Resources Plc ('the Company')
than the Board anticipated as a number of projects had been examined before the
decision was made to enter into an agreement with Continental Petroleum Ltd
('Continental') a UK Company with interests in two large concessions in Western
Siberia.

Due diligence had commenced on the concessions before the acquisition agreement
with Continental was signed and it was hoped that the final agreement and
accompanying circular would have been despatched by now. Procedural delays in
Russia have held up the finalising of the due diligence process, although the
Directors have been assured that the matters giving rise to the delays have now
been resolved.

In the meantime, we understand that commencement of development work on
Continental's concessions is imminent.

The Board is confident that 2006 will be an exciting time for the Company and
wish its proposed new management every success over the coming year.


Colin Orr-Ewing
Chairman
21 April 2006




Profit and loss account
for the period ended 31 October 2005
2005
£'000

Administrative expenses (164)

Operating loss (164)

Interest receivable 36

Loss on ordinary activities before taxation (128)

Taxation on loss on ordinary activities -

Retained Loss for the financial year (128)

Loss per share expressed in pence per share
- Basic (0.09)p
- Diluted (0.09)p



There are no recognised gains or losses other than the loss for the period as
shown above.

The operations are considered to be continuing.




Balance sheet
as at 31 October 2005
2005
£'000

Current assets

Debtors 8
Cash at bank 1,382

1,390

Creditors - falling due within one year (11)

Net current assets 1,379

Net assets 1,379

Capital and reserves
Called up share capital 420
Share premium account 1,087)
Profit and loss account (128)

Total Equity shareholders' funds 1,379





Cash flow statement
for the period ended 31 October 2005
2005
£'000

Net cash outflow from operating activities (161)


Return on Investments
Interest received 36

Cash outflow before financing (125)

Financing
Issue of ordinary share capital 1,507

Increase in cash in the period 1,382





Statement of accounting policies
for the period ended 31 October 2005

The principal accounting policies are summarised below. They have all been
applied consistently throughout the period.

Basis of accounting

The accounts have been prepared under the historical cost convention and in
accordance with applicable United Kingdom accounting standards.

Turnover

The Company had no turnover during the period.

Foreign currencies

Transactions denominated in foreign currencies are translated into sterling at
contracted rates or, where no contract exists, at average monthly rates.
Monetary assets and liabilities denominated in foreign currencies which are held
at the year-end are translated into sterling at year-end exchange rates.
Exchange differences on monetary items are taken to the Profit and Loss Account.

Investments

Fixed asset investments are stated at cost less any provision for impairment.
Trade investments are stated at the lower of cost or mid-market valuation.
Associate investments are shown at cost adjusted for the group's portion of the
results for the period.

Taxation

Corporation tax payable is provided on taxable profits at the current rate.

Deferred tax

Deferred tax is provided on a full provision basis on all timing differences
which have arisen but not reversed at the balance sheet date.

Options

No charge to profit is made in respect of the options over the Company's shares
held by Directors and others.

Going concern

The financial statements have been prepared on a going concern basis.

Annual General Meeting

The Board of Directors of the Company announces that all resolutions proposed to
the shareholders at the Annual General Meeting of the Company held on 24th
February 2006 were passed.

Availability of report and accounts

The report and accounts are being posted to shareholders and copies are
available from the Company's registered office at 55-56 St James Street, London
SW1A 1LA

[crab4t] 20/4/2006 13:43

RKJ I"m inclined to agree with you that he has plenty to occupy him, last time I tried to contact him he was in Russia !! , but who knows ? Regards Crabby .

[rkjones] 20/4/2006 11:30

What do you read into that then, Crab. Is Hugh on Cordillera duties or pursuing other interests. I would have thought he had enough on his plate with the reverse takeover seemingly coming to ahead finally!!

[crab4t] 20/4/2006 11:15

Due diligence now completed,FSA approval of takeover obtained,RNS expected next week outlining timetable of events to follow.( Hugh Oram of Nab/Wells currently in El Salvador) Hmmmmmmmmmm. Regards Crabby

[jethr0] 19/4/2006 16:41

Rob BYF, It's supposed to be approx 116.4p after consolidation, roughly double, it's on previous back posts after suspension on Dec 20th, but who knows with this latest extension of the suspension, price of gas/oil set to fly! it's one helluva time to be suspended from Dec 05 - July 06!

[rob byf] 19/4/2006 16:12

Does anyone have a view about the likely value of CLA shares after the acquisition? As they say up north...... owt or nowt? Cheers R

[jethr0] 07/4/2006 09:36

I was given to understand that the due diligence was "all but" a foregone conclusion when suspension occurred on 20th Dec, we all know how tricky/devious these Russians can be, are we being fed the "whole truth now", just an underlying worry I have!all imo of course!

[kdixon148] 06/4/2006 16:22

It means it could but I dont think and hope it does not mean it will.

"it is expected that the due diligence process
will be completed over the course of the next few weeks."

what happens after due diligence?

[rkjones] 06/4/2006 16:19

Does this mean that the shares could now be suspended until 31st July!! Hope I don,'t need the momey!!