Capricorn Energy Share Discussion Threads

[nigelpm] 11/5/2022 11:55

Yes, agreed Anley - a short statement but a couple of interesting bits in there. As others have rightly noted they need to get on and deliver.

[anley] 11/5/2022 11:50

Drilling with Shell and perhaps drilling with Deltic Energy later this year and all the other interests also going well.

It takes time for the market to digest what a new CNE will do in terms of profits/prospects and dividends but I think the board want's to build a new business.............we shall see.

[nigelpm] 11/5/2022 10:52

Everything is on track - what were you expecting out of interest?

[oilinvestoral] 11/5/2022 10:43

Having read the statement I found it a little bit meeeeeh! There was nothing to write home about. A bunch of self congratulatory twaddle about returning over 5 billion to shareholders (the majority of which was over a decade ago when they were a FTSE 100 company)! The proof of the pudding will be in their next statement when the provide an operational update. So far not so good I'm afraid ! Bottom line: over half a billion has been spent so far this year in buybacks and the shares are lower than when they were when they had the money in the bank! #PoorCapitalAllocation

[nigelpm] 11/5/2022 07:27

drivel as ever. Nice statement this morning - all on track as expected with a slightly higher than anticipated focus on liquids over gas.

[novicetrade68] 10/5/2022 23:48

CNE over paying from the remaining return from the Indian government should of course be avoided with smaller number of daily purchases, but the share price should now trade around the highest tender bid price ie 233p, and also IMMEDIATELY after taking the other shares from the market (Apr 13)in hindsight - also why has the share price such a big gap of more than 25p at the moment despite handing over $500m to the banks.

If a 3rd world country hands over more than a billion dollars, in this case India, to a first world country (UK/USA) then additional care and dilligence should apply when distributing these funds (may be even Treaties should have applied --> now the result is normal share holders/PIs have not benefited and PIs are still not benefiting.

[nigelpm] 10/5/2022 15:37

Too early to tell. I'm very happy with the way this has played out and executed.
Buyback working really well against a weak market.

[novicetrade68] 10/5/2022 15:29

Liquidity should in theory have increased with a higher share price and lower shares in issue (to encourage selling), so the thinking pre-tender was, CNE would be trading at least £2.50 post-tender/or late April given the lower number of shares, liquidity then would still be similar or even better as an issued tender should in theory favour all share holders, for now it has only benefited JPM by the looks of it, shareholders, perhaps the company too have all been seriously screwed after the $1bn ($1,000,000,000 !) windfall from India.

[hsfinch] 09/5/2022 07:52

What exactly would a buyer be taking over? A shed load of overpaid folks enjoying the good life in Edinburgh and a Shell cast-off in Egypt. Apparently, they're about to start drilling for black stuff in the North Sea...but don't hold your breath...if past performance is anything to go by it won't amount to much.

[bountyhunter] 07/5/2022 19:44

Nothing yet :)

[silverstone1] 06/5/2022 22:15

SHARES IN ISSUE PRE TENDER OFFER 495M (MARKET SIZE 7,500), SHARES IN ISSUE POST TENDER OFFER 322M (MARKET SIZE 10,000), HOW CAN LIQUIDITY INCREASE WITH FEWER SHARES IN ISSUE?

[nigelpm] 04/5/2022 16:13

Headed back there by the looks. Traders must be doing nicely out of this one. It's great having a situation where as we head back to £2 the slack gets picked up by the buyback.

[heialex1] 04/5/2022 08:45

Hopefully the start of a sustained move upwards. Someone on this board previously made the good point that the floor is probably at 200p as that's where the company aims to buy back shares heavily.Looks cheap.

[finkie] 04/5/2022 08:40

Voleon that’s a bad call surely easier shorts than a high oil price market company with cash

[nigelpm] 28/4/2022 18:12

Lol. Probably keep adding to the short as the price steadily rises. Interesting that no buyback occured yesterday so all the weight of buying wasn't the buyback as I'd expected.

[dros1] 28/4/2022 16:51

Voleon short 2% now

[nigelpm] 27/4/2022 21:39

I know nothing about voleon but if they think shorting a company that is buying back its own shares and has a very large pot to do that with is good business then good luck to them.

[oilinvestoral] 27/4/2022 20:08

Interesting! I wonder what the resident bean counters know that VCM LLP don't? I wonder if it's the low quality/ return Egyptian assets that convinced them to lump such a high conviction 2% short or whether it was the poor quality of the BOD and their mediocre capital allocation decisions! I don't know but this is getting very interesting.

[dros1] 27/4/2022 17:04

Voleon Capital Management LP has now short close to 2%

[oilinvestoral] 26/4/2022 22:20

Exactly Log Lorry and who would want to purchase gas assets in Egypt that sell at fixed prices when gas prices in other parts of the world have gone vertical ? It would make 0 sense. I agree the more likely option is CNE to purchase some assets (if management can get their brains into gear)...

[nigelpm] 25/4/2022 21:53

Let's agree to disagree - much stranger things have happened.

[loglorry1] 25/4/2022 18:49

Oh come on Nigel. It's cheap but nobody is going to bid. This is just ramping. They'd have to pay a premium to take it over and then there would be no point.

[888icb] 25/4/2022 18:06

It should be a no brainier for another oil company to put in a bid to acquire a large pile of cash at a large discount and have some oil assets thrown in for free!

[nigelpm] 25/4/2022 17:52

Yup. Someone must be running their numbers over this right now. It's simply far too cheap.

[geckotheglorious] 25/4/2022 17:45

Close an acquisition?
They're more likely to get bought out themselves all things considered.