Coastal Eng Share Discussion Threads

[timeoff] 17/9/2013 07:43

Pointless RNS of the year contender.

[sander4709] 17/9/2013 06:23

$20/share - I wonder if they're talking US or CAD?

Much chatter on the IV board!

[nermil] 16/9/2013 23:39

Report: Coastal Energy gets $2.3B takeover offer • 6:25 PM

Coastal Energy (CENJF.PK) has received a $2.3B takeover offer from Strategic Resources Ltd., a subsidiary of Hong Kong-based PE firm Jynwel Capital, and Spain's CEPSA, Financial Post reports.
The offer is believed to equal $20/share, which would represent a premium of nearly 20%, but takeover interest last year from Indonesia's Pertamina fell through because of a disagreement over the price.

hxxp://business.financialpost.com/2013/09/16/coastal-energy-subject-of-2-3-billion-takeover-bid-from-hong-kong-private-equity-firm/

[kfr20] 16/9/2013 22:44

I found the following link on Investor Village tonight. Not much in it I would guess. Especially as it falls short of last year's rejected offer.

Coastal Energy subject of $2.3-billion takeover bid from Hong Kong private equity firm

[thegreatgeraldo] 16/9/2013 18:01

There's an updated pres on the website,

[loglorry1] 16/9/2013 11:02

Anyone go to/at the conference and saw the Coastal presentation?

[melf] 13/9/2013 16:22

GBP/CAD exchange rate not doing us any favours at the moment.

[loglorry1] 13/9/2013 13:15

Well put that way it does seem silly however they do seem to be an obvious buyer and I do wonder if they'd try to engineer, as a thai state-owned company, a situation where they'd put themselves at an advantage over another bidder.

I'm probably worrying far too much.

Aren't we due some news very soon?

[thegreatgeraldo] 13/9/2013 13:05

Thailand is a net oil and gas importer. You're suggesting that PTT might lobby for an increase in tax on oil & gas profits - will this tax increase apply just to CEO or will it apply to PTT as well? Would that improve or otherwise Thailand's need to import oil and gas?

You suggest Thailand is politically unstable - what about the UK?

Quiet day in the office? ;-#))

[loglorry1] 13/9/2013 12:53

yes but I guess from your response you don't think it is much of a risk?

[thegreatgeraldo] 13/9/2013 12:42

log,

Is this a serious question?

[loglorry1] 13/9/2013 12:05

TGG - I see a lot of upside for Coastal here and I don't want to knock it but I do have a nagging doubt regarding the exit. Clearly PTT are the obvious buyers for energy security, tax reasons and a lot of other good reasons. However if I was PTT I'd want to buy Coastal on the cheap and one easy way to do that is to impede their progress. This could be via raising taxes, slowing permitting etc. etc.

I do realise the same can be said for most oil cos operating in less stable political situations but it is a source of concern surely. It's also quite likely for similar reasons that other buyers might be put off bidding for Coastal.

Do you have views on this point?

[thegreatgeraldo] 09/9/2013 19:05

No idea whether the upcoming news will be good or bad - but it's definitely on the way...

[davr0s] 09/9/2013 18:52

Nothing special but relatively strong given 2hours trying left to go - you may be right about buy back. Personally I hope it isn't as want to market to move up by itself. Will see about specific news - been caught expecting this before. Anyhow it's moving up!

[thegreatgeraldo] 09/9/2013 18:12

Volume's nothing special - if it's the buy back (no chance, imvh) the broker will be getting the sack later!! The buyback is definitely not meant to chase the price higher. There's a fair bit of news on the way in the short & medium term.

[davr0s] 09/9/2013 18:08

Very strong over on CEN on good volume - buy back happening? Or maybe just returning to normal/sensible valuations after the summer period - should have a long way to run from here so ill be holding tight

[b17nns] 09/9/2013 17:33

None whatsoever but it's taken the pressure off a bit.

[dahhad] 09/9/2013 17:29

Any idea why?

[b17nns] 09/9/2013 16:42

Nice move in the right direction today.

[cwa1] 30/8/2013 07:50

Reasonable amount bought and at, IMHO, a very decent price:-


Update of Normal Course Issuer Bid



Further to the Coastal Energy Company's (TSX: CEN, AIM: CEO) announcement on 11 June 2013 regarding the implementation of a Normal Course Issuer Bid, which commenced on 14 June 2013 (the "NCIB") the Company provides the following update relating to common shares in the Company ("Common Shares") purchased, and subsequently cancelled in accordance with the NCIB.




Date

Number of Common Shares Purchased & Cancelled

Average Purchase Price

Remaining Number of Common Shares Outstanding




August 20 - August 26, 2013



172,000



C$15.13



113,193,627

[thegreatgeraldo] 29/8/2013 14:55

& although the company didn't mention it in the last ops update, the Vicksburg is presumably drilling app/dev wells at BB South....

[dukedosh] 29/8/2013 14:05

Thanks Melf. Silly season over. Fully loaded my position and then some. Time now for this to rerate over the winter months.

[melf] 29/8/2013 13:55

Belt's latest post on IV:

"lots going on....

Nice pop but many of us knew it was not a question of if but when as we quickly approach September and the upcoming catalysts. Everyone knows about the gas well they are drilling but the fracks are underway and initial results should be flowing in by now. I would expect they will frack a few more and get a bit more test time behind them before releasing news but this series could add a very nice bump to production...I believe they have six sidetracks to frack in total at Bua Ban Main. Speaking of bumps to production - Malaysia has also spudded and is underway and the MOPU is scheduled to arrive in about 1 months time. The production ramp up many of us had hoped/expected would come last spring is now coming into full swing. Yes there were delays and growing pains but nobody will be able to neglect the truck loads of cash coming into their coffers. Add to that oil prices shooting through the roof and we are also approaching the season when International Oils return to favour. Summer doldrum accumulation time ended - permitting for exploration and development should also be coming in short order..."

[luminoso] 29/8/2013 07:49

Davros
£8 comment directed at someone else. Didn't understand your 'correction' comment, that's all. I do now.

[dangreen86] 28/8/2013 17:02

Surely the price of oil going up will have a positive effect on revenues, especially as mentioned in the last set of results they were holding more inventory.