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CDS Cds Oil & Gas

0.875

0.00 (0.00%)

Last Updated: 01:00:00

Delayed by 15 minutes

CDS Oil & Gas Investors - CDS

Share Name	Share Symbol	Market	Stock Type
Cds Oil & Gas	CDS	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	0.875	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
				0.875

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Posted at 18/5/2010 08:08 by ihavenoclue Game over .... Update and Proposed Cancellation of Admission TIDMCDS RNS Number : 0840M CDS Oil & Gas Group PLC 18 May 2010 ? CDS Oil and Gas Group plc - "CDS" or the "Company" Update and Proposed cancellation of admission of Ordinary Shares to AIM On 29 September 2009, it was announced that CDS's Principal Shareholders (being Feltown Assets Inc., Werton Finance S.A. and Red Law Corporation Services Inc.) had agreed to continue to support the financial needs of the Company as it sought partners to assist with the funding of the Company's exploration activities. Since then, the Company has been in discussions with a number of prospective investors that have not yet resulted in funding being available. Whilst the Company believes that these discussions will, at some stage, reach a satisfactory conclusion, negotiations are still ongoing and the Company remains dependent upon the Principal Shareholders for financial support in the form of loans to the Company. The board of directors of CDS (the "Board") is of the opinion that CDS's financial situation is not appropriate for an AIM quoted company. Accordingly, the Board wishes to announce its intention to apply for the cancellation of admission to trading on AIM of the ordinary shares of the Company, subject to shareholder approval at a general meeting. It is anticipated that the effective date of the cancellation will be 23 June 2010 following the general meeting to be held on or around 15 June 2010. Rationale for the Cancellation In arriving at this decision, the Board has considered: (1) the only source of funding currently available to the Company are loans provided by the Principal Shareholders; (2) the significant ongoing costs associated with maintaining a quotation on AIM; (3) the relative inactivity, in ordinary share trading volume terms, of the Company's shares due largely to the absence of a significant free float; and (4) the removal of the ongoing obligations and costs associated with the Company's continued compliance with the AIM Rules for Companies. The cancellation will result in the Company significantly reducing its administrative costs. Accordingly, the Board unanimously believes that it is in the best interests of the shareholders to seek cancellation at the earliest opportunity. The Board has received undertakings to vote in favour of the resolution to be proposed at the general meeting to effect the cancellation from shareholders holding shares representing, in aggregate, 71.28 per cent. of the issued share capital of the Company. Effect of Cancellation Following cancellation, the Ordinary Shares will not be quoted on any publicly quoted market in the UK or elsewhere. Should the cancellation be approved, the Company intends to act in an appropriate manner befitting a company that no longer trades through a public market. The principal effects of cancellation will be: · there will no longer be a formal market mechanism enabling the shareholders to trade their shares through the AIM Market. The Company's Depositary Interest and CREST facility will be cancelled and the volume of trading in the Ordinary Shares is likely to be severely reduced · the Company will not be bound to announce material events, nor announce interim or final results (although annual accounts will still be sent to shareholders prior to an AGM being held, in accordance with the Company's articles of association) · the Company will no longer be required to comply with any of the corporate governance requirements for companies trading on AIM A circular providing further details on the proposed cancellation and general meeting is being prepared and will be posted to shareholders shortly. The circular will also available on the Company's website: www.cdsogg.com. Exploration Update Following an agreement reached with the Environmental Agency (SEAM) concerning the extension of the environmental license of the Boqueron block, operations are resuming in connection with the exploration programme submitted to and reviewed by the Ministry of Public Works and Communication (MOPC). Subject to funding, the Company aims to drill 3 wells by the end of November 2010 with preparation work beginning at the end of this month. The Company has recruited Mr Ruben Soria, a drilling engineer who has worked with Halliburton, Repsol-YPF, BG and Schlumberger and who has extensive experience in South America, and Bolivia in particular, to lead the execution of this programme. Read Full Thread Reply
Posted at 11/5/2010 08:28 by kooba from oilbarrel. May 06, 2010 No News Not Always Good News As CDS Oil & Gas Remains Quiet AIM-quoted CDS Oil & Gas has the potential to both excite and frustrate investors probably in equal measure. Most recently, unfortunately, it has been the latter. Formed in 2003, and with a focus on Paraguay's Chacos Basin, the company operating locally through subsidiary CDS Energy has some intriguing real estate in a land close to proven hydrocarbons. The acreage is an eastward extension of Bolivia's Chaco Basin in north-west Paraguay and early work there shows promising results.Yet it is the company's shyness in handing over news of its activities that is causing a little anxiety. The company's last formal press announcement dates back to the middle of last year, with the last set of interim results posted in September 2009.t is all reflected in a share price now hovering around the 2.5p mark, which has slumped progressively on the lack of news flow. Soon after the September interims, the share price stood at about 5.75p. But cast your mind back to 2007, and the price had broken through 30p, a glimpse of what might be possible. Unfortunately, it has been a long and steady slide, for the most part, since that time. Some reassurance on the news front could do wonderful things in transforming the curve though. When this will come is one of the great unknowns facing investors. On the ground, nothing has changed. The company still holds the same exploration projects covering three blocks with a cumulative 1.33 million hectares in the Central Chaco High region of the Chaco Basin. Again, delve into the history books, and things were proceeding well as the company conducted early stage exploration. It spent some US $30m on aerogravity and aeromagnetic surveys, leading to seismic acquisition on the Emilia prospect and some other attractive parts of the Boqueron block. That was all during between 2007 and 2009 when CDS appeared less shy in telling the world what it was up to. It resulted in total potential findings of up to 250 million barrels of oil equivalent, CEO Patrice Roman declared in May 2009. The stage was set for the next round of work, with some talk of drilling, although this has yet to materialise, and right now, looks a fairly distant prospect.The fact is the CDS team are still hurting after the pull-out by major investor PetroSaudi, which was looking to bankroll further upstream activity. The Saudi company which owned nearly two-thirds of CDS by late 2008 stepped back from its small-cap investments after the collapse of the oil price.While CDS negotiated an extension for its drilling commitments of one year taking them through to Q4 2010 this still makes for extremely tight timing. Management is actively chasing new financing options and prospective farm-in partners to plug the gap left by the withdrawal of its big partner. At the time, around April last year, some of the slack was taken up by other key shareholders and two suppliers of services to the company, Famay Enterprises and Harmattan. But it all left the company in sleep mode, at least in terms of upstream activity, as management tried to open up new sources of funding to continue work. How easy this will be given the current volatile market is another difficult question, but the lack of announcements clearly says something. On the positive side, CDS still holds some important assets, with a big wad of data covering its three blocks. It also maintains good relations with the local authorities. This will be handy if it needs to look again at extending its agreements further, to delay drilling perhaps for another year. If it can pin down a partner then this would certainly help make the decision easier for officials. Either way, CDS is entering a critical period, with the next results update expected before the end of June, just weeks away. Read Full Thread Reply
Posted at 11/2/2010 15:09 by goz1986 At this time, the Company has received a significant level of interest from prospective investors with a view to covering the cost of the next stage of the exploration programme and whilst no funding arrangements have yet been formally agreed, the directors of the Company remain confident that further funds will be arranged in the near future. it is the quote that I really gets me interested. however, that was in July 2009.... do you think they will get another extension if they cant make the November deadline? Read Full Thread Reply
Posted at 03/2/2010 12:51 by davidhp Paraguay is one of the poorest of the Latin-American nations. They are sitting on a potentially large oil-bearing region which has seen near-zero investment over the years. The region is the same geology as across the border, where huge oil fields exist. Paraguay's oil and power needs are growing. It would love to have a cash-generative export like oil or gas too. The region surveyed and alloted to CDS has oil. Oil is $77.52 bbl (03Feb2010). Forecast to rise this yr. As the oil price rises, CDS are more likely to get funding, a farmout, a loan, or a deal to drill for it. A modest onshore drill campaign isn't very expensive these days. It just needs guts, the right people and organization. To be honest, IMHO most companies sitting on such an asset in these circumstances would simply pay wages to directors, live high on the hog at our expense and do nothing until the cash is exhausted and then they quit. HOWEVER, CDS hasn't done that at all. It has, instead, put itself into sleep-mode. No spending, to preserve the cash in the bank, in hand is an excellent sign. This bodes well for this type of company and the guys running it. From that simple fact alone, I concluded they actually want to see drillbits in the ground in Paraguay and that sort of commitment impresses me. It's only my opinion and I have been wrong in the past (Subsea Resources and Oxford Molecular to name a few tragedies of mine...) but oilers are my real market and few have let me down. When you see commitment and sound business practice, which is as rare as the big finds, you sense they're not all flakes and spivs. 8) You are essentially correct. Deals are contacts and discussions; talking. And, happily, talk is cheap... in a good way! Meaning they don't need big funds to talk to investors and hopefully that's what's happening behind the scenes... fingers crossed. Paraguay wants this drilled. CDS wants it drilled. All they have to do is find some bank or big partner who wants it too. That, as the oil price rises, and as the appetite for Africa (and look at the hellholes there that're being drilled! Risk is back, baby!) when Latin-America is so less risky. One deal and this will skyrocket. Time is the only risk factor... when! I'm prepared to sleep on this. Tucked away in a drawer. Maybe nowt comes of it. Maybe I lose it. I only invest play money anyhow. Better in a possible multi-bagger than earning 0.3% in the bank, eh? Or a bond... ouch! Then again, I thought that of AYM, DES, RKH and FOGL... and look what those dark horses turned into! DYOR Read Full Thread Reply
Posted at 23/11/2009 23:24 by andypace DJ Flow Of Funds To AIM-listed Oil, Gas Companies Quickens - E&Y LONDON (Dow Jones)--The flow of funds to small oil and gas companies listed on London's Alternative Investment Market, or AIM, increased again in the third quarter as companies took advantage of improved economic conditions to strengthen balance sheets and raise cash for drilling, said a report from consultancy Ernst and Young Monday. Secondary fundraising by AIM oil and gas companies totaled GBP333.3 million in the third quarter, an increase of 18.6% on the second quarter, the report said. "The majority were seeking funds to advance the development of key assets and to bring forward revenues," said Alec Carstairs, oil and gas partner at Ernst and Young. This is the highest of fundraising level since the second quarter 2006, when share prices in the sector were at their peak, Carstairs said. However, despite a gain of 35% in the third quarter and a more than doubling since the start of the year, Ernst and Young's index of 20 AIM-listed oil and gas companies remains more than 40% below its all-time high hit in the second quarter 2006. The recovery in investor confidence in the sector has been cautious, Carstairs said. Regal Petroleum PLC (RPT.LN) was the single largest fundraiser in the quarter, placing GBP63.4 million in new shares to continue the development of its gas fields in Ukraine. Sterling Energy PLC (SEY.LN) and ROC Oil Co. Ltd. (ROC.AU) raised GBP62.5 million and GBP53.4 million respectively with the intention of paying down debt and funding resource development. In total, 39 of 109 AIM oil and gas companies raised additional funds in the third quarter, the report said. There were no initial public offerings of oil and gas companies on AIM last quarter, continuing a trend of more than a year. "We are, however, seeing increased interest from private companies and investors in preparing for and exploring possible IPOs in 2010," the report said. A new wave of oil and gas corporate transactions may also be building, which could benefit potential targets among AIM-listed companies, the report said. However, "the cash-rich players are likely to proceed with some caution...we do not expect to see a return to the record deal volumes and values of 2006-2007 and the first half of 2008," said Jon Clark, oil and gas director at Ernst & Young. Read Full Thread Reply
Posted at 25/8/2009 23:34 by andypace there's more interest being shown in the small oil plays at the moment. CDS has got left behind so should be due a rise as investors take profits on VOG, GKP,etc and look to re-allocate funds. Hopefully when funding is sorted we'll get a step change to a decent level. I'm hoping that it will reach 10p quickly on the basis of the rcent debt to equity conversion at 10p when the share price was sub 3p. Read Full Thread Reply
Posted at 28/7/2009 10:05 by mlm Just in case this gets overlooked TIDMCDS RNS Number : 3578W CDS Oil & Gas Group PLC 28 July 2009 ? CDS Oil and Gas Group plc ("CDS" or the "Company") Extension to minimum work obligation LONDON, 28 July 2009: CDS the AIM quoted oil and gas explorer (CDS.L) with operations in Paraguay is pleased to announce that it has received an extension from the Paraguayan Ministry of Public Works and Communications ("MOPC") - which is also responsible for energy and mining - to the Company's minimum work obligations on its exploration licence over the Boqueron block. The Company's minimum work commitments for the Boqueron block initially required it to drill a minimum of three exploration wells prior to 21 November 2009. Whilst the minimum work obligation remains unchanged the MOPC has suspended the Company's commitments for 12 months, extending the expiry of the minimum work period to 21 November 2010. The extension affords CDS greater flexibility in identifying and negotiating terms with potential farm-in partners. Patrice Roman, CEO of CDS, commented: "The extension will assist the ongoing discussions with new strategic partners in order to finance the next phase of our exploration program, which will consist mainly of drilling. It also demonstrates the high value of the relationship maintained by CDS with the Paraguayan authorities resulting from the fact that over the recent years CDS has been a principal player as regards oil and gas exploration in Paraguay." At this time, the Company has received a significant level of interest from prospective investors with a view to covering the cost of the next stage of the exploration programme and whilst no funding arrangements have yet been formally agreed, the directors of the Company remain confident that further funds will be arranged in the near future. Note to Editors: CDS Oil and Gas Group plc is a UK company which, through its Paraguayan subsidiary, CDS Energy SA, has a 98.2% working interest in three large blocks with substantial oil and gas exploration potential in the prospective eastward extension into north-west Paraguay of the productive Bolivian Chaco Basin. Read Full Thread Reply
Posted at 06/10/2008 19:31 by rugrat2 CDS, the AIM quoted oil and gas explorer (CDS.L), was informed on 2 October 2008 that PetroSaudi Ltd Inc ('PetroSaudi') has acquired the entire share capital of each of Feltown Assets Inc. ('Feltown') and Werton Finance S.A. ('Werton') from private investors, Jean-Gabriel Antoni and Christo Christidis respectively. Feltown has an interest in 32,857,142 ordinary shares of 10p each of CDS ('Ordinary Shares') and Werton an interest in 19,285,714 Ordinary Shares. On 2 October 2008 the Company was also advised by PetroSaudi that it has acquired a further 3,450,000 Ordinary Shares though the market. The Company understands that the 3,450,000 Ordinary Shares were previously held by RAB Special Situations (Master) Fund Limited. Following these acquisitions, PetroSaudi has a beneficial interest in 63,889,386 Ordinary Shares representing 62.8% of the Company's issued share capital. As the central management and control of CDS is outside of the UK, the Channel Islands and the Isle of Man, the provisions of the UK Takeover Code do not apply to the Company. Whilst the Company has not received formal notification of any changes to RAB Special Situations (Master) Fund Limited's holding in CDS, the Company believes that RAB Special Situations (Master) Fund Limited no longer has a notifiable interest in the Company. Read Full Thread Reply
Posted at 05/6/2007 15:32 by rodspotty RNS Number:8166X Black Rock Oil & Gas PLC 05 June 2007 FOR IMMEDIATE RELEASE 5 June 2007 Black Rock Oil & Gas PLC ("Black Rock" or the "Company") Boqueron Concession Farm-in Option Cancelled by CDS On 30 April 2007 Black Rock Oil & Gas PLC (stock code: BLR), the UK-based exploration company, announced that it had executed an agreement with CDS Oil & Gas Group plc ("CDS"), whereby Black Rock had a 100 day option to farm-in down to the Carboniferous zone in the Boqueron Concession granted to CDS located in north-west Paraguay (the "Option"). CDS had the right to terminate the Option in the event that there was a change in control of CDS. Black Rock was informed on 4 June 2007 by CDS that CDS had elected to cancel the Option following the announcement made by CDS on 18 May 2007 whereby a group of investors will take up a 59.9% equity stake in CDS. Dr. John Cubitt, Managing Director, said: "We will continue to consider other opportunities in the region as part of our strategy to increase our presence in selected Latin American countries. In the meantime, Black Rock continues to focus on developing its current Colombian and North Sea assets." For further information, please contact: Black Rock Oil & Gas plc 01189 001350 Dr John Cubitt, Managing Director www.blackrockoil.com -------------------- Beaumont Cornish 0207 628 3396 Michael Cornish Bankside Consultants Sue Scott/Michael Padley 020 7367 8888 ENDS Read Full Thread Reply
Posted at 18/5/2007 12:08 by markinblackpool CDS AGREES TO #8.526 MILLION PLACING WITH GROUP OF INVESTORS TO TAKE UP A 59.9% CONTROLLING INTEREST IN THE COMPANY LONDON, England: 18 May 2007 - CDS Oil & Gas Group plc ("CDS" or the "Company"), the AIM-listed oil and gas explorer (CDS.L), is pleased to report that further to its statement on Monday, 14 May, a group of investors has agreed to subscribe for 609 million new shares in cash at an issue price of 1.4 pence per share to raise #8,526,000 net of expenses which, post the placing, will be equivalent to approximately 59.9% of the enlarged share capital. The proposed investors are private companies controlled by Mr Patrice Roman, Mr Jean-Gabriel Antoni and Mr Christo Christidis. The proceeds of the issue will significantly improve the Company's financial position, enabling it to fulfill its contractual obligations related to the Boqueron and other concessions in the Chaco region of Paraguay and proceed to an intensive work program. The UK Takeover Panel has, conditional upon shareholder approval, agreed to waive the requirements of Rule 9 of the Takeover Code which would otherwise require the investors to make a general offer for the existing ordinary shares. The proposed investors will also be granted new warrants and options so that together with the new subscription shares, they will hold approximately 59.9% of the fully-diluted equity of the Company. The new warrants and options will be granted on substantially the same terms and conditions to match those already existing. The subscription is conditional on shareholder approval which will be sought at an extraordinary general meeting of the Company in London on 14 June 2007. Shareholders, including directors of CDS, representing approximately 55.0% of the Company's shares, have given irrevocable commitments to vote their shares in support of the proposed subscription. On completion of the subscription Mr Roman will join the Board of CDS as an executive director and be appointed chief executive officer. In addition Mr Takeo Hirata and Mr Evanan Romero will join the Board as non-executive directors. Mr Roman has a degree in law and political science from the University of Lyon and was formerly chief operating officer of Marcotrade SA, a Geneva-based company active in the trading of crude oil and refined products. Since 1992 he has been an independent consultant in the energy, environment and transportation sectors. Mr Hirata has held several important posts within the Japanese Government's Agency of Natural Resources and Energy, including that of Director of International Petroleum Affairs and Director of Petroleum Exploration and Production. He has also served as First Secretary at the Japanese Embassy in Brazil. Mr Romero is a petroleum engineer and initially worked with Shell Oil and then Arco in Venezuela. He is a former Vice Minister of Energy and Mines in the government of Venezuela and also served as managing director of Petroleos de Venezuela SA. Mr Jean-Gabriel Antoni and Mr Christo Christidis are private investors. They both have extensive international experience in the banking, trading and energy sectors and have been involved for more than 25 years in the business of oil trading worldwide and of oil and gas exploration, mainly in Africa. Mr John Bentley will continue as non-executive chairman of CDS and Mr Jeremy Eng and Mr. Guillermo Peroni will continue as non-executive directors. Mr. Daniel Morrison will continue as Sr. Vice President and executive director. Mr. James Wade will be appointed Sr. Vice President. Mr Keith Irons, a non-executive director, will stand down from the Board following the EGM. A notice of meeting and a circular with full details of the proposed subscription is being mailed to CDS shareholders in due course. Conditional upon shareholder approval there will also be a 1 for 10 consolidation in the Company's shares such that application will be made for 101,675,827 ordinary shares of 10p each in the Company to be admitted to trading on the AIM Market ("Admission"), being the sum of the consolidated existing shares in issue and the new shares which are the subject of the placing. The share register for existing ordinary shares of 1p each will close at 5.00pm on 14 June 2007. The new shares to be issued to the investors will rank pari passu with the ordinary shares in the Company arising on the share consolidation and it is expected that Admission and dealings in the new form of shares will commence at 8.00am on 15 June 2007. The warrants will not be admitted to trading on AIM. Following the consolidation and Admission, there will be 101,675,827 Ordinary shares of 10p each in the Company in issue, and 144,167,958 on a fully diluted basis following the conversion of all options and warrants. Conditional upon shareholder approval of the consolidation, Crest accounts will be credited with the new consolidated shares on 15 June 2007, the first day of dealing. If a shareholder holds a share certificate in respect of an Existing Ordinary Share, the certificate will no longer be valid from the time the proposed Share Consolidation becomes effective. If a shareholder holds 10 or more Existing Ordinary Shares at 5.00 p.m. on 14 June 2007, such shareholder shall be sent a new share certificate evidencing the New Ordinary Shares that such shareholder is entitled to under the Share Consolidation. Such certificates are expected to be despatched no later than 22 June 2007. Upon receipt of the new certificate, shareholders should destroy any old certificates. Pending the despatch of new certificates, transfers of certificated New Ordinary Shares will be certified against the Company's share register. Mr John Bentley, chairman of CDS, said: "We are pleased to have secured this substantial new funding from a group of investors with a successful track record in the oil and gas business. These funds will provide CDS with a strong financial base from which to move forward with the exploration of its Paraguayan properties including deepening of the well on Gabino Mendoza and the continuation of operations on the Boqueron Block. "We are also pleased to welcome Messrs Roman, Hirata and Romero to the board with their wide experience of the international oil and gas industry. I would also like to thank Keith Irons for his invaluable contributions to the formation of the company and his support during what has been a challenging period since the company's IPO in 2005". CDS is a UK company which, through its Paraguayan subsidiary, CDS Energy S.A., has a 98.1% working interest in three large blocks with substantial oil and gas exploration potential in the prospective eastward extension into north-west Paraguay of the productive Bolivian Chaco Basin. ENDS Read Full Thread Reply

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