Capricorn Energy Share Discussion Threads

[silverstone1] 29/10/2022 08:35

MY PLAN TO EXTRACT UP TO 360P PER SHARE WAS POSTED MONTHS BEFORE THE ALMOST IDENTICAL IRENIC PLAN!

[oilinvestoral] 28/10/2022 13:49

Lol @ "FOLLOW MY PLAN"! SMH

[p6r0] 28/10/2022 12:59

I doubt it Suet, there has been nothing constructive from this self serving board, who are only interested in securing their own futures and riding the gravy train, until they have frittered away any remaining shareholder value. The current management have done little to preserve let alone increase the value of the company, as a long time investor in Cairn , I can remember when the share price was in excess of the 400p price that Palliser claim could be achieved with a little effort and reduced largesse from our excessively paid and incompetent senior management.
The only action that may stir this complacent board into action is for some of the largest shareholders to table a no confidence vote at the agm.

[silverstone1] 28/10/2022 12:53

HOPEFULLY THE BOARD WILL FINALLY FOLLOW MY PLAN BY RETURNING UP TO 214P PER SHARE VIA AN ISSUE OF B SHARES AND STILL HAVE ASSETS OF UP TO TO 146P PER SHARE!

[suetballs] 28/10/2022 11:07

I wonder what the Board will do next?
Hopefully something really constructive.
Suet

[willie99] 28/10/2022 10:11

The Paliser presentation is essential reading for all shareholders. It lays bare the mismanagement, ineptitude and greed of our CEO and CFO over the last decade. It’s shocking.

[silverstone1] 27/10/2022 11:33

EVERYONE KNOWS CNE SHAREHOLDERS COULD AND SHOULD EXTRACT MORE VALUE WITHOUT A DEAL!

[churchill2] 27/10/2022 10:42

Palliser is back. Calls this latest deal one sided and urges Capricorn Management to change direction.

[silverstone1] 27/10/2022 08:08

CNE STILL HAVE ANOTHER 50% UPSIDE, WITH 0% DOWNSIDE, IT'S A NO-BRAINER!

[anley] 25/10/2022 15:30

For those of you who are interested in the latest move...........

1 In addition, Irenic is of the view that there is material incremental upside potential in the Egypt asset based on the ability to renegotiate cost-sharing terms with the Egyptian government. The local authorities have recently improved several operators’ terms to incent incremental capital investment into the country’s hydrocarbon production. If Capricorn were to realize similar improvements, it could result in GBp 100 of upside. However, given uncertainty around such renegotiations we do not ascribe any immediate value to a renegotiation now. It is likely that a different owner—one with experience in operating Egypt and other assets on the ground—would be willing to ascribe some value to this renegotiation when looking at a potential purchase of the Egypt assets.
2 Barclays, the sole NewMed broker, most recently attributed ILs 770 of NAV per share to NewMed’s assets versus its current share price of ILs 825.
3 We commend the company’s decision to already return a significant portion of its $1,056 million Indian tax refund to shareholders by means of its April 2022 tender offer representing more than $500 million.
4 APA Corporation Announces Egyptian Parliament’s Approval of Modernized Production Sharing Contract, November 30, 2021, hxxps://www.globenewswire.com/en/news-release/2021/11/30/2343505/0/en/APA-Corporation-Announces-Egyptian-Parliament-s-Approval-of-Modernized-Production-Sharing-Contract.html.
5 In addition to our asset-level NAV that is based on the value at year-end 2022, we believe Capricorn will generate well-level free cash flow of at least $160 million in 2022. From this well-level free cash flow, we deduct $130 million for management’s guided capital expenditures in 2022.

[anley] 25/10/2022 13:09

But they could say that the terms do not reflect anything for FULL LISTING and that could be worth another XX pence.

Irenic are no fools and have produced a super letter to CNE.

[silverstone1] 22/10/2022 08:18

IRENIC ARE ONLY 10P BELOW THE BREAKUP VALUE OF UP TO 360P PER SHARE!

[suetballs] 21/10/2022 09:40

Interesting - Irenic wants an orderly disposal of assets which in their view are worth 350p per share.

Seems this has a way to run.
Suet

[churchill2] 21/10/2022 08:58

I see another letter from a shareholder called Irenic has been sent to the board in effect saying the latest deal is unsatisfactory and shareholders are being no other word shafted.

[silverstone1] 21/10/2022 08:00

CHURCHILL2, IT'S A REVERSE TAKEOVER, BUT AN EVEN BETTER DEAL IS LIKELY OR UP TO 360P PER SHARE WITHOUT A DEAL!

[churchill2] 19/10/2022 21:48

Reading the small print NewMed is not the bidder. Capricorn is the Purchaser.
There is a recalculation process at some point so as a last resort shareholders should get the 271p agreed but in my opinion it could get messy.The exchange ratio is 2337 and not 2334 as in my previous post.

[churchill2] 19/10/2022 10:59

The NewMed bid is not going well.I take it the 172p is locked in as of the end of September.
That leaves the NewMed portion which I calculate as 890 shekels x exchange rate of 26 divided by 2334 equals 99p as of the 28th September.
Currently the NewMed share price is 812 shekels x current exchange rate of just a fraction over 25 divided by 2334 equals 87p.
I must check the small print if their is a provision to cover this eventuality.

[adg] 14/10/2022 20:27

I-N-C-O-M-P-E-T-E-N-C-E !!

[therealdeal25] 14/10/2022 12:39

Are the BOD’s here at CNE corrupt?why are they so keen to accept any old offer for this company? Have they been told they are on their way out if they do t turn this around? What puts me off buying here is how they keep accepting every offer, so eth8ng isn’t quite right here! Anyone shed some light on this? 🤷‍a94;️

[silverstone1] 13/10/2022 10:35

CNE REMAINS SOMEWAY BELOW THE BREAKUP VALUE OF UP TO 360P PER SHARE!

[888icb] 13/10/2022 10:09

Continues to rise this morning as you would expect as CNE remains some way below the proposed deal price of 271p.

[adg] 12/10/2022 12:14

Holding up & rising - remarkable considering the utter annihilation over the rest of the markets