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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Cds Oil & Gas | LSE:CDS | London | Ordinary Share | GB00B1XN5G38 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.875 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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17/11/2006 07:01 | thinking of buying any views anyone please thank you | beckham7 | |
02/11/2006 12:16 | Post removed by ADVFN | Abuse team | |
26/10/2006 12:04 | BIG BUYING TAKING PLACE AT PET. JORDAN PSA IMMINENT!!!! | thechozen1 | |
19/10/2006 15:37 | Are Wade and Morrison offloading shares at high profit.? | stromboli | |
16/10/2006 22:35 | CDS Oil and Gas Buy 11-Oct-06 £85,000.00 James Gordon Wade 6,800,000 @ 1.25p CDS Oil and Gas Buy 11-Oct-06 £50,000.00 Daniel James Morrison 4,000,000 @ 1.25p well looks like theyve nearly double their money in a week...... | krazykid | |
16/10/2006 11:45 | things are looking up ! | currypasty | |
16/10/2006 11:22 | sas this may be relevant to getting the share price up again by December. Loan agreement RNS Number:1384X CDS Oil & Gas Group PLC 19 January 2006 19 January 2006 CDS Oil & Gas Group plc Westmount Energy to participate in CDS oil & gas exploration in Paraguay. LONDON, England: 19 January 2006- CDS Oil & Gas Group plc ("CDS"), the AIM-listed oil explorer (CDS.L), is pleased to report that it has agreed a #500,000 Convertible Loan from Westmount Energy Limited, ("Westmount") the Jersey, Channel Islands, based independent energy investment company quoted on AIM, to assist the funding of its exploration programme in the Chaco Basin in North West Paraguay. The Loan is repayable on 29 December 2006, but in lieu of repayment, Westmount has the option, at any time prior to 29 December 2006 to elect to subscribe for, and apply the amount of the Loan by subscribing for and paying up five million new ordinary shares of 1p each in CDS at a subscription price of 10p per share. Westmount will waive any interest and CDS will simultaneously procure the issue to Westmount of Warrants to subscribe for a further five million new ordinary shares of 1p each in CDS at 10p per share for a period of one year. In the event Westmount has not exercised its rights as outlined above by 29 December 2006 it has agreed to apply the Loan (including accrued interest thereon) in paying up and automatically subscribing for on 29 December 2006, such number of new ordinary shares of 1p each in CDS as shall be found by dividing the aggregate amount of the Loan and accrued interest by the "Average Price" (namely the average mid-market price per share of an Ordinary Share of 1p in CDS as traded on AIM for the previous 14 trading days prior to the 29 December 2006) less 5% thereof. CDS is a UK company which, through its Paraguayan subsidiary, CDS Energy S.A., is pursuing the exploration and development potential of three blocks covering a large area (7.22 million acres or 29,210 km(2)) of North West Paraguay in South America. CDS has a 100% working interest in all three blocks, which include the 400km(2) Gabino Mendoza Block, the 4,911 km(2) PG&E Block and the 23,899 km(2) Boqueron Block. These blocks include substantial exploration opportunities in a large prospective area in the eastward extension of the Chaco Basin within Paraguay. CDS recently announced that it has reached the planned depth of 1,635 metres on its first well which has now been cased and suspended for further evaluation. The well, which was spudded on November 25, 2005, is located 200m southeast of the Independencia 1 well drilled in 1993 on the Gabino Mendoza block, which was in turn a re-entry of the Mendoza 1-R well drilled by Pure Oil in 1959. The primary objective of the new well was a potential oil-bearing zone between 705 metres and 1,600 metres, identified by CDS through its interpretation of seismic data and the well logs of previous drilling operations. Commenting on the investment from Westmount, John Bentley, Chairman of CDS, said: "We are very pleased to have the support of Westmount Energy, which has a successful track record of investing in small oil and gas companies with early stage exploration opportunities. It is a great vote of confidence in the potential of our acreage in Paraguay and of CDS's opportunities for growth." ENDS Enquiries to: James Wade Tel: + (595)-21-664-270 President and Chief Executive Officer CDS Oil & Gas Group PLC Simon Rothschild Bankside Consultants Ltd. Tel: + (44) 20 7376 8871 (office) + 44 (0) 7703 167 065 (cell) This information is provided by RNS The company news service from the London Stock Exchange END IODSFWFWASMSEFF | p@ | |
13/10/2006 22:28 | couple of directors made large share purchases today. What might their motivation be? | sascruiser2 | |
13/10/2006 19:51 | machine translation of Spanish post on the CHP thread may be on interest here: NEXT DECEMBER OR JANUARY INFORMED ON VIABILITY IN Petrobra's accelerates studies on explorations in Paraguayan Chaco The president of Petrobra's Paraguay, Ing. Erio Augusto Mathías, advanced yesterday to our newspaper that, in order this year or, to taking more, in next January, the company would be pronounced on if a petroliferous exploration in the Paraguayan Chaco is going to be viable from the commercial point of view. Ing. Erio A. Mathías S. visited our newspaper yesterday. The high executive of the Brazilian transnational company remembered that there are been talking on the subject with the Undersecretary's office of Mines and Energy, of the Ministry of Public Works and Communications, to which have made official the interest of Petrobra's. In that context, he said that the company/signature has received the archives of the seismic and geologic relevamientos of Paraguay, and at the moment is making the studies. In agreement with the vice-minister of Mines and Energy, Ing. Héctor Ruiz Diaz, independently the Brazilian company has taken also contact with the concessionary company CDS and White Cousin Martinez; in addition, they are working for the complete control of all the technical informations that they could have given, as much for the Gabino block Mendoza like for the one of Big hole, and the Public Work Ministry waits the conclusion of those tasks. The MOPC considers that the participation of Petrobra's, mainly in this specific project that takes ahead the CBS, will be very healthful, considering the importance and the curriculum that the Brazilian company in his recognized trajectory in the sector of hydrocarbons has. It is possible to remember that joint venture headed by company CDS, of English capital, consorciada with the Prime Paraguayan company White Martinez, among others, had to its position the perforation of the well "Independence III", in the block of Gabino Mendoza. This half of way of the anticipated original depth had left, that was planned in the 3,200 meters. The excavation was interrupted in a little more than 1,600 meters of depth, but CDS was it jeopardize with the MOPC to arrive at announced the 3,200 meters, which does not take place until this moment by financial problems that would come confronting the mentioned British company. Petrobra's began to operate in Paraguay in April of the present year, after the purchase of more of a hundred of service stations and stores of oil the anglian-Dutch Royal Dutch Shell. The Brazilian company indeed is interested in the exploration, prospection and production of gas and petroleum in our country. | steelwatch | |
06/10/2006 16:05 | RNS Number:1044K CDS Oil & Gas Group PLC 06 October 2006 CDS Oil & Gas Group plc CDS raises #1.8 million in placing for oil & gas exploration in Paraguay LONDON, England: 5 October 2006- CDS Oil & Gas Group plc ("CDS"), the AIM-listed oil and gas explorer (CDS.L), is pleased to report that it has raised a total of #1.82 million gross, before expenses, through a placing of 145.4 million Units, comprising one share and one warrant, with institutional and other investors. CDS is a UK company which, through its Paraguayan subsidiary, CDS Energy S.A., has a 100% 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. The funds raised will be used to progress the Company's exploration programme in the Chaco region of Paraguay where it has several significant hydrocarbon leads, and to repay residual debts arising from the drilling in late 2005 of the Company's first well on the Gabino Mendoza block. For the remainder of 2006 CDS plans to focus its efforts on shallow oil exploration in the Carboniferous around the Emilia well in the Boqueron Block, and continued exploration for deep Devonian gas in the Gabino Mendoza Block. The Emilia prospect located on the Boqueron Block and Gabino Mendoza prospect remain the most advanced and prospective of CDS's properties. The Company plans to conduct a geophysical programme over selected areas in October and a further program over a wider area is being considered prior to start of the wet season. Reprocessing of 930km of existing seismic data will also be performed in 2006. The Company is actively pursuing farm-out opportunities and is currently in discussions with several parties interested in the CDS properties with a view to farm-ins or joint venture participation. The company has retained marketing consultants to assist with this endeavour. James G Wade (66) has retired as chief executive following completion of the Placing but he will remain a director and consultant to the Company. Jim Wade was a joint founder of CDS and was instrumental in its development and in bringing it to the AIM market in London. John Bentley, CDS Chairman, said today "We are grateful to Jim for his vision in seeing the opportunity in Paraguay and for his commitment and hard work over several years to the development of CDS" . Application will be made for up to 145,358,800 ordinary shares of 1p each in the Company to be admitted to trading on the AIM Market. The new shares will rank pari passu with existing ordinary shares in the Company and is expected that admission and trading in the shares will commence on 12 October 2006. The warrants will not be listed. | currypasty | |
02/10/2006 07:39 | RNS Number:7489J CDS Oil & Gas Group PLC 29 September 2006 29 September 2006 CDS Oil & Gas Group plc (the "Company") Placing of a minimum of #1.2 million Further to the announcement by the Company in its interim results on 21 September 2006, of a Placing to raise further funds, the Board is pleased to announce that subscriptions have been received in excess of the minimum required of #1.2 million pounds. Full details of the total amount raised will be announced once all subscriptions have been received and processed by the Company. | currypasty | |
24/9/2006 00:21 | Frontiercapital Rotschild at Bankside consultants can tell you who the brokers are I did toy with the idea of phoning up and inviting myself in but really not for me What put me off more than anything else is that Morrison is still there and he seems to have put people's backs up in Paraguay | cerrito | |
21/9/2006 14:50 | I thought i pop my nose in here. Well its back from the tempory suspesion, there's been 1 trade so far , a sell of 40,000 shares at 1.5p, not looking to vibrant so far , the ask is now 2p and the convertable loan note as discussed earlier seems to have a right to convert into 3 mln shares at 0.1 , this being the set conversion rate payable by the 29 Dec 2006. Fund raising by the mkt for 1.2 mln if achieved will further dilute the shares, so on balance this is now a wait and see propect. It is interesting to note just how much of the mkt money if raised £1.2mln will be ear marked to debts that are 100% adminstration debts 2/3 has been quoted this mostly will be for the loan note payable by 29 Dec or converted into shares , perhaps further dilution at that point ?? ,the balance left will purportdly be for working capital aprox £400.000 if subscrition for the shares is fully met, with interest from backers its achievable, but others i fear may well be seeking to asset strip the company at a knock down price, and it may well be come a butter fly, as a complete new company with a new agenda only time will tell , one for the brave | vision88 | |
21/9/2006 11:59 | Anyone any idea if the Covertible loan stocks £800,000 worth are going to call in their cash (if any left to repay them on 13st December) or going to renegotiate for shares at the proposed issue price. The original conversion price of 10p is DEAD as a commercial proposition (imo & dyor) This could be where the agreed funding could be coming from but will not give much new cash. Any views? Potential oil plays look interestign but so do most before the drills find non commercial shows or water. (The cynic) | pugugly | |
21/9/2006 08:30 | Fair comment CURRYPASTY. Do you know which broker [if any] is arranging the placing? | frontiercapital | |
21/9/2006 08:22 | Im wondering is i should bother with the placing... 1.25p plus a warrant, but this cash raised will be mainly to pay off their debts, and what if the court decides against them ? If the new money was purely for exploration, it would be a better bet... whats anyone else think ? | currypasty | |
21/9/2006 08:10 | CDS Oil & Gas Group PLC 21 September 2006 For release at 08.00 Thursday, 21 September 2006 CDS Oil & Gas Group plc Report for the six months ended 30 June 2006 Chairman's review CDS Oil & Gas Group plc was admitted to trading on AIM on 17 September. This report therefore covers the six-month period from 1 January to 30 June 2006. CDS's activities are focused on exploring several potential oil and gas plays in the Chaco Basin in western Paraguay. The loss for the six months under review was $519,000 (2005: $469,000) which was entirely made up of administrative expenses less interest. Cash outflow before financing amounted to $1,821,000, (2004: $3,312,000) of which $1,461,000 (2005: $2,700,000) was capital expenditure, principally the drilling of the Gabino Mendoza well. At end of June the cash balance was $453,000 (2005: $1,514,000). Under the terms of the joint-venture agreement on the Gabino Mendoza block CDS had an obligation to drill a well before the end of 2005. The well reached a planned depth of 1,635 meters and was cased and suspended for testing or deepening at a later date. The initial objective of the well was a potential oil-bearing zone between 705 metres and 1,600 metres. Analysis to date by CDS of the technical information derived from the well, confirms that hydrocarbons were found within several zones, although reservoir qualities are lower than required to be able to flow oil unassisted. CDS believes that the results from this well have improved the level of confidence of the gas potential at depth on the Gabino Mendoza Block and merits a deepening of the well. The drilling of this well fulfilled the Company's work obligation on the Gabino Mendoza Block although CDS has stated that at a later date it intends to continue to drill the well to 3,250 metres to test for gas. However, cost over runs, estimated at approximately $1.4 million, were incurred, due principally to problems with the contractor. CDS Energy has submitted a claim to Nabors Drilling International ('Nabors') for the extra costs involved, amounting to $1,617,000, and Nabors has made a counter claim. The matter has now been referred to arbitration in London. CDS Energy still has some residual debts arising from the cost over-runs on the drilling of the Independencia 3 well on the Gabino Mendoza block. Apart from the disputed claim of $768,000 from Nabors, which was reported to shareholders in the annual report dated 29 June 2006, CDS Energy has liabilities amounting to about $892,000 to contractors who provided services for the drilling of the Independencia 3 well, and other creditors. The Directors intend to advance sufficient funds to clear these debts as soon as new funds are available. At the time of the Company's admission to AIM it raised equity funding of a total of £1.68 million, net of expenses. While this was originally considered adequate for the Company's planned activities, the cost over-runs referred to previously have severely reduced the Company's cash resources. In an effort to ameliorate the position, the Company raised £800,000 through two convertible loans: £500,000 from Westmount Energy Ltd, an independent energy investment company quoted on AIM, and £300,000 from GMG Trust Ltd, a Geneva based fund management group. Full details of these arrangements were contained in announcements published on 19 January 2006 and 15 May 2006 respectively. Despite the significant challenges and setbacks which the Company has faced in its first year as a listed company, the fundamental investment proposition remains undiminished. CDS holds prospecting rights over a very large area of the under-explored Chaco basin of Northwest Paraguay which is due east of, and shares the same stratigraphy at shallower depth as, the oil and gas producing areas in Bolivia. The two most interesting plays have yet to be drilled by CDS - the Carboniferous oil on the Boqueron block and the deep Devonian gas on the Gabino Mendoza block. CDS Energy will continue to select exploration lots in the Boqueron Block amounting to a total of 800,000 hectares prior to May 2007, as required by the terms of the Concession. This new exploration area is extensive and contains the primary area of interest to CDS and its best ranked leads in the Block. Rather than follow the strategy of drilling further wells with 100% working interest, as stated in the AIM Admission document, it is now the intention to bring in joint venture partners on the different licences to provide majority funding and to spread the risk for CDS shareholders. Professional advisers have been retained to assist with these endeavours and the Company has had initial discussions with several parties, but these are at an early stage and no definitive agreements have yet been reached. Nor can any guarantee be given that such discussions will have a positive outcome. A study of the Independencia gas prospect and the Emilia oil prospect has been undertaken by Collarini Associates of Houston, Texas, to update the extent of each target and its potential productivity. The draft results of this review indicate in the case of Independencia the expected resource potential in the immediate area of the Independencia #1 well is estimated at 216 BCF in place or 140 BCF recoverable. Although several prospects exist in the Boqueron Concession only the Emilia was studied by Collarini who have concluded that the reservoir is potentially more productive than originally thought. However, due to the lack of data at this stage they can only map a restricted area and accordingly the prospective resources at Emilia are estimated at 27.0 MMBbl in place or 6.4 MMBbl recoverable. It is especially difficult to quantify resource potential in frontier plays of this type. The initial Scott Pickford report, which focused on the broader potential of the basin, based its analysis at the Emilia prospect from two seismic lines and the data from an earlier well. Collarini's results using the same basic data and a more rigorous engineering-based and industry standard approach have derived a risked resource with a potentially more productive reservoir over a smaller area. For example, at Emilia, the Scott Pickford report indicated 12 MBO per acre of mean recoverable reserves while the Collarini report indicates 18 MBO per acre of mean recoverable for the same reservoir, greatly improving the possible recoverable oil in place. The Collarini methodology is accepted internationally to be more accurate in modeling the reservoir capability and gives validity to the productive qualities of the reservoir both at Emilia for oil and at Independencia for gas. But, it also indicates that more work needs to be done for CDS to be able to understand more fully the lateral extent or trap for each case. This report will be completed during the next month and will be made available to shareholders as soon as practicable. A resource update will be announced at that time in accordance with the 'Guidance note for mining, oil and gas companies' issued by the London Stock Exchange plc in March 2006. Steven L Veal, a consultant to the company, has reviewed the summary set out above of the draft results of the Collarini Associates study. Steven is a professional petroleum geologist and is a qualified person with more than 26 years experience in the petroleum and natural gas industries and is a member, and former Vice President and Treasurer, of the American Association of Petroleum Geologists and a Fellow of the Royal Geological Society, London. On 25 July 2006, due to the uncertainty over CDS's financial position, trading in the Company shares was suspended, but has been restored today following the issue of these interim statements. The Company is currently in the process of raising further funds through an equity placing, to continue the exploration programme and to provide working capital. In this placing investors are being offered a unit consisting of one share and one warrant to subscribe for a further share (a 'Unit') for 1.25 pence per Unit. The warrant is exercisable at a price of 3 pence over a period of two years. CDS has commitments for approximately two-thirds of the minimum of £1.2 million that needs to be raised and the Board is confident of raising the remainder from other investors who are showing interest. On the other hand, if the funding is unsuccessful, then it is unlikely that CDS would be able to meet its financial obligations as and when they fall due and may therefore be unable to trade unless alternative financing arrangements can be negotiated in the short term. Whilst the Board have been actively pursuing alternative funding arrangements, there is no certainty as to the outcome of these negotiations nor is there any guarantee that such funding could be obtained on terms equivalent to the current fundraising. There is no doubt that CDS is at a turning point. The Company still has an excellent acreage in the Chaco Basin in Paraguay which has a proven hydrocarbon system in which a number of prospective exploration leads have been identified. Paraguay itself is now beginning to attract the interest of some of the larger oil companies. CDS has already received a number of approaches from other companies interested in its assets. As said earlier, these are all at an early stage and shareholders will be advised as soon as practicable of any discussions which move beyond that stage. Finally, I would like to thank my fellow board members, executive directors and the dedicated staff in Asuncion for all their hard work and loyalty to the company. Ed McMaster, a resident of Canada, decided not to offer himself for re-election as a director at the AGM. James Wade (65), the current Chief Executive, has agreed to relinquish his executive responsibilities on completion of the current funding, although he will continue as a non-executive director of the parent company only. Dan Morrison, the chief executive of CDS Energy SA, will continue in his role and serve as Chief Operating Officer of CDS. The Board will review the question of other management changes following completion of the current funding. JWS Bentley Chairman Note: BCF = Billion Cubic Feet of gas MMbbl = Millon barrels of oil Mbbl = thousand barrels of oil See the following unaudited accounts for the period 1 January to 30 June 2006. Contacts: Simon Rothschild, Bankside Consultants 020 7367 8871 CDS OIL & GAS GROUP PLC Interim Unaudited Accounts for the Six Months ended 30 June 2006 CONSOLIDATED PROFIT AND LOSS ACCOUNT Half year ended Year ended 30 June 30 June 31 December 2006 2005 2005 (Unaudited) (Unaudited) (Audited) $000 $000 $000 Administrative expenses (530) (469) (816) _____ _____ _____ Operating loss (530) (469) (816) Interest receivable 11 - 32 _____ _____ _____ Loss on ordinary activities before and after taxation (519) (469) (784) _____ _____ _____ All amounts relate to continuing activities. Loss per ordinary share (cents) (Note 3) Basic (0.3) (0.3) (0.4) Diluted (0.3) (0.3) (0.4) CONSOLIDATED STATEMENT OF RECOGNISED GAINS AND LOSSES Loss for the period (519) (469) (784) Exchange differences (31) - 56 _____ _____ _____ Total recognised losses for the period (550) (469) (728) _____ _____ _____ CDS OIL & GAS GROUP PLC Interim Unaudited Accounts for the Six Months ended 30 June 2006 CONSOLIDATED BALANCE SHEET 30 June 30 June 31 December 2006 2005 2005 (Unaudited) (Unaudited) (Audited) $000 $000 $000 Fixed Assets Intangible assets 10,356 2,724 8,602 Tangible assets 240 1,780 321 _____ _____ _____ 10,596 4,504 8,923 Current Assets Debtors 96 225 86 Inventory 1,751 - 1,743 Cash at bank and in hand 453 1,514 826 _____ _____ _____ 2,300 1,739 2,655 Creditors: Amounts falling due within one year Convertible debt (1,478) - - Other (2,011) (255) (1,621) _____ _____ _____ Net Current (Liabilities)/Assets (1,189) 1,484 1,034 _____ _____ _____ Total Assets less Current Liabilities 9,407 5,988 9,957 _____ _____ _____ Capital and Reserves Called up share capital 3,822 3,218 3,822 Share premium 8,794 5,193 8,794 Profit and loss account deficit (2,250) (1,315) (1,700) Capital reserve 126 - 126 Other reserve (1,095) (1,117) (1,095) _____ _____ _____ Shareholders' funds - equity 9,397 5,979 9,947 Minority interest 10 9 10 _____ _____ _____ 9,407 5,988 9,957 _____ _____ _____ CDS OIL & GAS GROUP PLC Interim Unaudited Accounts for the Six Months ended 30 June 2006 CONSOLIDATED CASH FLOW STATEMENT Half year ended Year ended 30 June 30 June 31 December 2006 2005 2005 (Unaudited) (Unaudited) (Audited) $000 $000 $000 Net cash outflow from operating activities (371) (612) (2,492) Returns on investments and servicing of finance Interest received 11 - 32 Capital expenditure and financial investment Sale/(purchase) of tangible fixed assets 81 (1,638) (180) Expenditure on oil and gas assets (1,542) (1,062) (5,560) _____ _____ _____ Cash outflow before financing (1,821) (3,312) (8,200) Financing Issues of ordinary shares for cash - 4,488 7,718 Exercise of warrants - - 970 Convertible loans 1,448 _____ _____ _____ (Decrease)/increase in cash (373) 1,176 488 _____ _____ _____ CDS OIL & GAS GROUP PLC Interim Unaudited Accounts for the Six Months ended 30 June 2006 Note 1 - Currency All amounts in the unaudited accounts are denominated in US Dollars. Note 2 - Basis of preparation The interim accounts have been prepared in accordance with applicable accounting standards and under the historic cost convention. The interim financial information has been prepared on the basis of the accounting policies set out in the group's statutory accounts for the period ended 31 December 2005. The financial information set out in this interim statement, does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. The financial information for the full preceding period is based on the statutory accounts for the period ended 31 December 2005. Those accounts, on which the auditors issued an unqualified opinion, have been delivered to the Registrar of Companies. Note 3 - Loss per share The loss per share is calculated based on: Half year ended Year ended 30 June 30 June 31 December 2006 2005 2005 Loss for the period ($000) (519) (469) (784) Weighted average number of shares in issue (000) 210,170 162,913 177,656 Note 4 - Convertible loans During January 2006, the company raised £0.5 million ($883,000) through a convertible loan, repayable by 29 December 2006, but the holder has the option, at any time, to convert the loan into ordinary share capital of up to 5,000,000 shares at £0.10 per share. The holder has also been issued with warrants, in exchange for an interest waiver, to subscribe for a further number of ordinary shares at £0.10 per share. If the rights are not exercised, then the loan and interest convert into ordinary shares at the repayment date, at an average market price. CDS OIL & GAS GROUP PLC Interim Unaudited Accounts for the Six Months ended 30 June 2006 Note 4 - Convertible loans (continued) During May 2006, the company raised £0.3 million ($565,000) through a convertible loan, repayable by 31 December 2006, but the holder has the option, at any time, to convert the loan into ordinary share capital of up to 3,000,000 shares at £0.10 per share. The holder has also been issued with warrants, in exchange for an interest waiver, to subscribe for a further number of ordinary shares at £0.10 per share. If the rights are not exercised, then the loan and interest convert into ordinary shares at £0.06 per share at the repayment date. Note 5 - Reconciliation of operating loss to net cash outflow from operating activities Half year ended Year ended 30 June 30 June 31 December 2006 2005 2005 (Unaudited) (Unaudited) (Audited) $000 $000 $000 Operating loss (530) (469) (816) Shares based payments for professional services received - - 27 (Increase)/decrease in debtors (11) (133) 8 (Increase) in inventory (8) - (1,743) Increase/(decrease) in creditors 178 (10) 32 _____ _____ _____ Net cash outflow from operating activities (371) (612) (2,492) _____ _____ _____ This information is provided by RNS The company news service from the London Stock Exchange | frontiercapital | |
18/9/2006 10:12 | Post removed by ADVFN | Abuse team | |
24/7/2006 10:23 | oh dear !! | currypasty |
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