Capricorn Energy Share Discussion Threads

[p6r0] 09/8/2022 17:06

It will be interesting to see what the board response is, to this well researched and punchy report , echoing what many small shareholders have been arguing since this appalling merger was announced. Personally I agree with the vast majority of Pallisers arguments. With both Palliser and BofA/Merrill Lynch now publicly against the merger I agree with Silverstone1, that thankfully we small shareholders will not be railroaded into a terrible deal by the bigger players, which is the usual case.The merger is dead!

[silverstone1] 09/8/2022 08:20

AT LAST THE TLW MERGER IS DEAD!

[bountyhunter] 07/8/2022 16:10

TULLOW OIL has approved its merger with Capricorn Energy, a British oil and gas company, a release issued by the oil giant has said.
This collaboration offers the combined entity oil reserves in excess of a billion barrels across multiple countries in Africa.

According to the company, it is intended that the combination will be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act, where Tullow will acquire all of the issued and to be issued Capricorn shares.

A statement from Tullow emphasised, “The boards of directors of Tullow Oil Plc (Tullow) and Capricorn Energy Plc (Capricorn) are pleased to announce that they have reached agreement on the terms of a recommended all-share combination of Tullow and Capricorn (the Combination) to create the combined group.”

It also indicated that “This is a merger of equals creating a leading African energy company with a material and diversified asset base and a portfolio of investment opportunities delivering visible production growth. Capricorn Shareholders to receive 3.8068 new Tullow shares for each Capricorn share held, with Capricorn shareholders to own 47% and Tullow shareholders to own 53% of the combined group on completion.”

[888icb] 02/8/2022 07:50

More press coverage of the likely Tullow deal in Kenya:
“ Two Indian state-backed companies are in talks to acquire Tullow Oil’s stake in Turkana oil projects in a deal estimated to breach Sh356.5 billion ($3 billion).
This will mark one of the biggest deals in Kenya’s history and offers a foreign government a stake in a venture that is seeking to develop infrastructure for oil production.

Bloomberg news agency reported from India that ONGC Videsh and Indian Oil Corp may acquire the stake for between $2 billion and $3 billion.
Executives of Indian Oil Corp, which is India’s top refiner, and ONGC Videsh — the country’s second-largest oil and gas firm — last week met top officials of Kenya’s Energy ministry in an effort to smooth the deal.
Petroleum Principal Secretary Andrew Kamau asked the Business Daily to seek a comment from Tullow, which made reference to a statement issued on Twitter over the weekend”

Such a deal would give a big boost to Tullow’s share price and hence to CNE with that 3.8 multiple.

[888icb] 30/7/2022 11:47

It looks increasingly likely that a big deal is about to be done involving an asset in Kenya that TLW has a large stake in. If this leads to a decent increase in TLW’s share price it will be interesting to see how this is reflected in the CNE share price.

[controlledmadness] 29/7/2022 14:48

Everything has gone quiet here. I suspect everyone on holiday and holding their breath.
Tullow edging up towards the 3.8 times and Bank of America/Merrell Lynch which was supposed to be opposed and controlling over 20 percent are reducing down to 13 percent.
Maybe a rethink in favour.
Am missing the capital letters.

[bountyhunter] 28/7/2022 08:13

Links added at top of header.

[bountyhunter] 25/7/2022 17:35

Created due to the name change to Capricorn Energy from Cairn Energy.

[badger60] 23/7/2022 10:32

Tullow has a wonderful history of heavy indebtedness and iffy management. CNE has an ideal opportunity with its free cash to successfully grow organically without being swallowed up, cash and all into the Tullow mess.

[xxx] 19/7/2022 21:58

I hope someone realises the value on offer and takes the enity over or the mananagement of the listed entity over.
The Tullow bid not only undervalues CNE, but Tulow has a large tax issue outstanding which it looks likely to lose, so Tullow paper is unwelcome.

[anley] 19/7/2022 13:25

They are putting together a prospectus for shareholders to read in September.

But what happens if someone else comes along and bids?

[badger60] 19/7/2022 09:11

Still trying to work out if the merger with Tullow will go through. We have not heard anything definitive yet. I'm hoping that it doesn't.

[finkie] 18/7/2022 21:17

Boards gone quiet where are we up to with everything? Thanks

[badger60] 07/7/2022 10:38

If the merger is dead maybe we'll get some news on the spudding of Deltic North Sea gas assets, or perhaps even a Deltic take over?

[silverstone1] 07/7/2022 08:20

TOP LONG TRADE IS CNE; TOP SHORT TRADE IS TLW!

[silverstone1] 06/7/2022 16:26

AS PREDICTED, THE TLW MERGER IS DEAD, SO STOP WASTING TIME AND MONEY RELEASING TLW RNS'S EVERYDAY!

[silverstone1] 01/7/2022 10:55

WHO'S GOING TO VOTE FOR 160P PER SHARE (AND PROBABLY LESS THAN 40P PER SHARE BY Q4 IF TLW ARE UNDER 10P) APART FROM THE APPROPRIATELY NAMED CONTROLLEDMADNESS?

[badger60] 01/7/2022 09:46

LET'S HOPE THAT YOU ARE RIGHT!!

[silverstone1] 01/7/2022 08:25

IT DOESN'T MATTER WHICH WAY PRIVATE INVESTORS VOTE BECAUSE INSTITUTIONAL INVESTORS WILL VOTE AGAINST THE MERGER!

[controlledmadness] 01/7/2022 08:16

Silverstone1. You are persuading me to vote for the merger . The reason why is those damned CAPITAL LETTERS.

[silverstone1] 30/6/2022 15:33

AS PREDICTED, THE MKT CAP OF CNE IS NOW MORE THAN TLW, IN FACT, I WOULDN'T EVEN VOTE FOR THE TLW MERGER IF TLW WERE FREE BECAUSE THEIR DEBT MOUNTAIN WOULD TRASH CNE!

[silverstone1] 30/6/2022 08:24

WHO WANTS TULLOW PAPER NOW? TOILET PAPER WILL SOON BE MORE VALUABLE!