Capricorn Energy Share Discussion Threads

[nigelpm] 14/4/2022 23:56

Best bet if you want to spend the time is set up a spreadsheet and input the %'s per the RNS - it has been all over the place as a result of the tender offer and reduction in number of shares in issue - good luck!

[richardly] 14/4/2022 23:39

Can anyone explain the holdings company announcements mainly yesterday but also over recent days?
As it stands I'm surprised this hasn't gone down substantially more; rather than back up (a bit) today.
Sorry if I've missed any analysis on this (too many posts without actual analysis to keep up with, or make it more difficult to find those, just maybe)

[nigelpm] 14/4/2022 22:19

Well played yas. I'm happy to keep dipping in on falls but won't be selling below EV. You can be sure of that! Particularly with oil back over 110 bucks.

[yasx] 14/4/2022 22:12

yasX 13 Apr '22 - 09:39 - 6890 of 6919 Edit
0 0 0
Back at the bottom of the trading range...not bad for a punt for a probable 10pc over time from here.

---------------------

Up nearly 8pc since that post yesterday - have sold this afternoon and will review again if it retreats.

[oilinvestoral] 14/4/2022 18:54

Sophia

Central costs are expected to be in the region of $60m (give or take). That’s why some holders here are seething that CNE are renting The Plaza in central Edinburgh.

Also there won’t be any FCF from Egypt as any accountant worth their salt will know that unless oil prices remain at these elevated levels, cash flow from Egypt will be less than CAPEX and G&A combined.

IMHO the first thing the company need to do is cut down that horrendous central cost figure down by at least half.

[nigelpm] 14/4/2022 18:29

C. £900m. Cash around the 600m mark then add assets and cash flows likely from them. Certainly I'd be looking at £2.75 as a point where fair value comes into play however with the cash build up that number is likely to keep moving higher.

[sophia1982] 14/4/2022 18:20

Nigel and others, what is your SOTP at this point?
We know that CAPEX are going to be 200m. What about central costs?
Thank you

[oilinvestoral] 14/4/2022 18:17

LOL @ drivel ! I thought "medium term value" is what we were after (not an inter day blip that was partially sold off)? May be we shouldn't declare victory and gloat at 208p lol! Let's wait until the shares get over 300p (or at least the price management sold at) before doing numerous victory laps LMAO!

[nigelpm] 14/4/2022 15:38

That's some move. I feel for those that sold out on the unadulterated drivel being spewed out on here.

[nigelpm] 14/4/2022 12:04

I think he made it up to be honest as I think I noted at the time. Back to 205p. Risk here was always that they wouldn't be able to buyback many shares. Might be repeating itself.

[jong] 14/4/2022 11:49

Re post 6700 - Looks like you were told porkies by the company secretary then. First share buy back announced this morning.

[coffeecanportfolio] 14/4/2022 10:43

HSFI too have reduced my holding here significantly and will most likely exit over the coming days & weeks. Having retired last year, I'm looking to build an income portfolio with a stream of dividends. I honestly expected to see a 70p special dividend from CNE. It's a pitty it wasn't to be. Good luck to those still fully invested

[nigelpm] 14/4/2022 09:09

To be clear it's not immaterial to large institutions who have tax implications to consider but to private investors as we are here it's absolutely immaterial at the margin.

[nigelpm] 14/4/2022 09:06

Incredible - that a fairly immaterial difference between a tender offer vs buyback or special dividend has caused so much consternation - guess that's a function of investors being used to certain capital distributions over others.

It has however provided this quite unique opportunity.

[citytilidie] 14/4/2022 08:50

Agree, I’m also out after holding for several years. The board allowed themselves to be dictated to by JP Morgan in allowing a very complicated tender offer to the detriment of the Company and all its shareholders.

[hsfinch] 14/4/2022 08:08

I'm fully out of here now. And breathing a sigh of relief. But have to say that this company has missed a rare opportunity to create real value. And their track record in recent times is to destroy value. They aren't gonna fall much but they aren't gonna make big money either. Even in the present perfect conditions. They are a typical lifestyle oile which now exists to provide a comfy home for overpaid desk jockeys in the heart of Edinburgh.

[nigelpm] 14/4/2022 07:21

Thats more like it. A million shares taken off the register at under £2. As I said yesterday the sellers are bringing a clenched fist to a gun fight.

[heialex1] 14/4/2022 06:34

PossiblyBut concern is assets will be expensive now...

[nigelpm] 13/4/2022 23:37

My only other thinking RE: recent share price action is some M&A happening behind the scenes - with the war chest of c.£500m it must be a fairly high probability.

[heialex1] 13/4/2022 21:03

Agreed. Picked some up at 200 to hold. Patience will be rewarded

[nigelpm] 13/4/2022 19:50

Quite. Timing I have no idea on. That's not my concern really. Medium term value is.

[heialex1] 13/4/2022 19:43

Once the technical trading resolves this should flyAlthough frankly, I don't know when that will be...

[nigelpm] 13/4/2022 19:05

Playing chicken with a $200m buyer in the background and a rock solid balance sheet isn't smart - as I say let them have their fun whilst it lasts!

[oilinvestoral] 13/4/2022 18:04

Yes the fall here is all down to manipulation/ someone having some fun!It has absolutely nothing to do with the recent inexplicable capital allocation decisions ! Sign rolling eyes emoji!