Capricorn Energy Share Discussion Threads

[dunderheed] 27/4/2023 22:25

xxnr - yes I bought long before R - the you're right saw them go up to around £20 - then back down again and as I say sold them at £2.45!!
frazboy no, not at the moment but may dip in if it get's too low!
Lats I was in I sold in late 160's (actually needed cash "elsewhere" for once!), I seem to remember - coming up from significantly lower and at least 5-6 years ago?

[xxnjr] 27/4/2023 18:09

Well done on 115p. The Q's were asked by Morgan Stanley, Bank of America, Stiffel and Zeus Capital.

[anley] 27/4/2023 17:23

I had a listen in to the presentation and when it came to questions the only people were less than a handful of City scribblers.......terrible and here is a big problem as they must be either no-professional or stupid.

A new board with a huge clear out and collecting the cash and when I said they may sell Egypt - I was wrong and that is what the market is afraid of....making a profit from a bad region.

I like my 115p per share and more to come so I will await May.

Good luck the new team and do not forget to cull most of the non-executive directors - waste of time and save the cash for shareholders.........

[xxnjr] 27/4/2023 16:46

The share price was about £4 before Cairn announced Mangala (Rajasthan) in 2004. share price increased to £5 on that RNS. Finally topping out in the high £20's or low £30's ISTR. Then there was a share consoladation.

[frazboy] 27/4/2023 16:17

Dh - are you holding at the moment?

[hsfinch] 27/4/2023 14:55

Oops Tired has-been Chris Cox and his stooges are almost as bad as the Edinburgh gents. And that's saying something.

[controlledmadness] 27/4/2023 10:40

return of 575 and 25 buyback is 600 which leaves assets at 614 million.
Requires shareholder approval but no date for meeting before 15th may given (AGM is in June). Not in RNS.
Says it would be a capital return but no ratio being given in RNS.

New board trying to show they are as bad as the previous board.

[anley] 27/4/2023 10:36

Some interesting comment which I will comment on once I have had a look at what the NY boys have done to their positions.

[xxnjr] 27/4/2023 09:36

Serves the hedge funds right!

[therealdeal25] 27/4/2023 09:26

Markets don’t like this one bit this last RNS, and I guessed they wouldn’t, CNE are putting all their eggs into one basket! Very weird thing to do, it’s not only Egypt investors here, people invest because there is a diverse portfolio, now they have killed that, this could drop to £1.50p easily!

[xxnjr] 27/4/2023 09:22

Egyptian receivables increasing? some weakish production numbers?

[adg] 27/4/2023 09:17

I sold a few months ago to pay off a mortgage but still keenly watching as can easily swap some funds over to buy.
Saw this mornings RNS and thought the S0 would react well.
Not quite sure todays tanking is warranted unless I’m missing something.. ?

[xxnjr] 27/4/2023 09:10

Not a very polished presentation!

[frazboy] 27/4/2023 08:56

Agreed Dunderheed - knows the territory well and managed to offload TransGlobe assets at a good price

[suetballs] 27/4/2023 08:09

Poor share price response to the new Board’s plans?
Suet

[dunderheed] 27/4/2023 07:30

Excellent choice of new ceo IMHO.

[xxnjr] 27/4/2023 07:21

Targeted US$575m return of capital over next 12 months: US$450m immediate special dividend, US$100m special dividend in Q4 2023 and share buyback of at least US$25m

Focus on significant opportunities in Egypt business, cost saving and curtailment of international exploration

CNE will "Materially scale back all exploration spend outside Egypt and monetise, farm-down or exit all other exploration positions. A process has commenced for a potential sale of our UK assets"

[anley] 21/4/2023 15:42

My view is that the NY boys will look to get as much cash out by paying dividends or some other way asap.

Then they will either sell the Egyptian assets as well as collecting cash from the sale of the Catcher assets which they sold and perhaps handing back to Deltic (DELT) their 5 licences on an unencumbered basis.

That leaves them with a clean business................

For me I would do all I have just said but leave sufficient cash in the company for the development of one/two of the Deltic licences and that would help as any write-offs would not be needed. I would then bid for Deltic at 4p and even if I only got 25% of the issued share capital it would be most interesting as to how that would flush out Michael Spence with his 18%.................

Food for thought but WULLIEPULLER you would get most of your original capital back.....would you not?

[wulliepuller] 19/4/2023 17:14

Ansley.
Thanks for getting back to me, am totally up to date with the news and BOD being removed etc. Just not sure what reorganization will mean for us share holders.I have been in here for one hell of a time,hoping "silly fool I have been" that this would have been a nice wee retirement pot for me. Ten years waiting on that India fiasco to sort itself out,and still SFA from that.
So is there any chance of a silver lining after the restructuring/reorganized company.
Your views much appreciated 👍
W.

[anley] 19/4/2023 12:46

Go up to NEWS and please read the last announcement.

Remember that a number of NY Hedge Funds managed to get rid of ALL the previous board and install a new board - all done so we are awaiting a news release towards the end of this month.

In the meantime these NY funds seem to be moving their stakes around.......

Hope this helps - if not come back with questions.

[wulliepuller] 18/4/2023 18:25

Anley.
Would you be as kind as to enlighten me what you mean by that. Thanks in advance
W

[anley] 18/4/2023 18:01

Shareholding positions being reorganised.....keep an eye open.

[anley] 11/4/2023 13:47

Last of the bad eggs have resigned so total control is now in the hands of the PALLISER nominees.

Roll on the next announcement and the 20 June AGM so we can all get to grips with how the company will be run for the future benefit of shareholders.