Capricorn Energy Share Discussion Threads

[silverstone1] 17/1/2023 23:31

I RECOMMEND THAT CNE SHAREHOLDERS VOTE AGAINST ALL THE PROPOSED NWMD MERGER RESOLUTIONS AND FOR ALL THE PROPOSED PALLISER RESOLUTIONS!

[anley] 17/1/2023 14:49

It does seem that way SILVER.....so Stage 1 is the vote on to vote through the NewMed deal then off to lunch and back at 3pm to vote on the removal of the directors.

So by the time we are all having tea we will finally know what is going to happen if PALLISER wins..............

I am a shareholder in CNE and Deltic. CNE are working on at least 2 of the Deltic licences and the word is that all is going well (excuse the pun) but it will be up to the new board as to what happens next.

[silverstone1] 17/1/2023 13:04

THE MAJORITY INTEND TO BACK PALLISER!

[churchill2] 16/1/2023 19:41

I see Capricorn featured on the front page of the Business section of the Sunday Times.
Legal and General intends to back Palliser and vote against seven of the nine strong board.Legal said that it had been communicating its concerns about governance, future strategy, executive pay and environment risks for the past nine months. Rather than attempt to address these concerns constructively the Capricorn board has suggested that Legal sells our shares in the company if we are not satisfied with the boards decision making.

[silverstone1] 11/1/2023 08:21

ANLEY, OBVIOUSLY PALLISER WANT CNE SHAREHOLDERS TO VOTE FOR ALL THE PROPOSED RESOLUTIONS, EITHER WAY, I'M LONG BECAUSE MY TOP LONG TRADE FOR Q1 IS CNE!

[suetballs] 10/1/2023 15:56

Well I have voted to sack the current board.
Suet

[anley] 10/1/2023 15:51

Palliser should write to CNE shareholders telling them how to vote IF they want the board voted off.

[xxx] 10/1/2023 15:22

On the voting form, it says the board suggests voting 'for' all the motions ....

[churchill2] 10/1/2023 11:36

The saga goes on. Irenic have replied to the Capricorn board with a convincing argument that shareholders are being shafted. As I have pointed out on several occasions the deal with NewMed was cobbled together during our Lis Truss experience when the pound was weak and the NewMed share price was a lot stronger. I have no faith whatsoever in the current board and will support the attempts by Irenic/ Palliser etc to get shareholders a fairer deal.

[xxx] 10/1/2023 11:27

I think the current ceo and chairwoman have done a very poor job, both in the way they returned capital via a buyback, rather than dividends, then inexplicably in my view, buying in Egypt, despite her heralded ESG 'credentials'.

As a reflection of their competence, they appear to have formed the view that the Egypt business is worth less now than the purchase price, despite both oil and gas having gone up in price.

Apart from the issue of competence, they are overpaid and this situation has dragged on for far too long.

I am therefore planning to vote for Palliser, despite knowing little of them.

Happy to hear alternate views/facts, before I vote...

[anley] 09/1/2023 16:44

Capricorn seems to be giving in but I think Palliser will not give ground and go for new terms and conditions with NEWMED.

On to FEB 1 in sunny Scotland for the EGM.........

[anley] 05/1/2023 16:26

A good pointer and thanks for pointing out the NewMed share price..

There is still lots of meat on the CNE bone for Palliser to do well out of what they want.

[churchill2] 05/1/2023 12:02

The Capricorn board may have come out fighting but are not getting much support from the NewMed share price. When the deal was struck the price was 890 shekels now currently 750 shekels. Presently Capricorn shareholders are a long way from the 271p that appeared to be on offer initially. It may be the board is planning a revision of the terms but based on the Ill fated Tullow debacle I doubt it. In my opinion it depends on who you can trust to get the best deal for shareholders.

[anley] 05/1/2023 10:59

Its going to be a good hard fought fight and Palliser will even have access to the CNE figures but will be unable to tell us (NDA).

[18bt] 05/1/2023 07:46

Well, the board has come out fighting

[churchill2] 31/12/2022 11:28

No contest currently. Based on latest NewMed share price and present exchange rates the offer is 162p plus 79p equals 241p. Where do we go from here?. NewMed back out or Capricorn revise the offer. Capricorn board resigns. Current share price indicates that Palliser appears to be in the driving seat.

[anley] 30/12/2022 16:54

Expect the air to become a storm in January 2023:

Capricorn V Palliser and who wins the EGM...........

[xxx] 24/12/2022 18:45

Agreed and Reabold ugh...

[suetballs] 23/12/2022 19:32

eog needs to be included for terrible deals from low quality management.
Suet

[xxx] 23/12/2022 18:07

As a holder, I am pleased that L+G and Palliser are recognising and more importantly taking steps to end the wasteful, lazy and incompetent board's tenure.

There is something rotten in UK plc looking at Hurricane and Serica...terrible deals abound from low quality management.

[hsfinch] 23/12/2022 15:09

This company has cash in the bank + possible kicker from Woidside + Egypt asset. The latter is a dog. All the other holdings are worthless. And they've got rid of a hundred Edinburgh gents who are due on average £100k each. Be funny if Palliser stopped them payments. Whatever but it certainly aint worth more than three squids.

[silverstone1] 23/12/2022 12:12

ALL OF MY PREDICTIONS ON ADVFN HAVE COME TRUE: NMC FROM 3000P TO 0P, THE 2020 BEAR MARKET, NSF FROM 30P TO 0P, BA. FROM 425P TO 1000P AND CNE FROM 125P TO 489P!

[churchill2] 23/12/2022 08:55

That is just misleading rubbish.