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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Columbus Energy Resources Plc | LSE:CERP | London | Ordinary Share | GB00BDGJ2R22 | ORD 0.05P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.825 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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22/7/2020 09:00 | Columbus reply to Predator Oil & Gas Holdings offer in an RNS released 8 am today Columbus RNS Wed 22nd July Columbus Energy Res Update on Inniss-Trinity CO2 Project RNS Number : 7402T Columbus Energy Resources PLC 22 July 2020 COLUMBUS ENERGY RESOURCES PLC ("Columbus" or the "Company") Update on Inniss-Trinity CO2 Project Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, provides the following update about the Inniss-Trinity CO2 pilot project. The Company notes that Predator Oil & Gas Holdings Limited ("Predator"), its joint venture partner in the CO2 pilot project, has put out an RNS stating that it had made on offer to purchase the Company's interest in the Inniss-Trinity field (the "Offer"). Pursuant to the proposed merger with Bahamas Petroleum Company plc ("BPC") announced on 11 June 2020 and in accordance with the Scheme Document dated 30 June 2020 (the "Merger"), it is a condition of the Merger that the Company does not dispose of any material asset other than in a manner consistent with that disclosed to BPC (the "Conditions"). As previously disclosed, Predator has the right to purchase the Company's interest in the Inniss-Trinity field for US$4.2m by 30 September 2020 (the "Option"). Given the Offer was not consistent with the Option, the Company did not accept the Offer. Furthermore, given acceptance of the Offer would potentially put the Company in breach of the Conditions of the Merger, the Company advised Predator, at the time it received the Offer, that it had no intention of accepting the Offer and made Predator aware of the Conditions. This announcement is inside information for the purposes of Article 7 of Regulation 596/2014. | tomford8 | |
22/7/2020 08:40 | They were obviously just chancing their arm, an offer that only lasted 5 days when we're in merger restrictions? Planting that amount as a seed so anything over that will make us feel like we've "won" is probably what they're thinking. Fair play to them, business is business and the ruthlessness that comes with that. Let's hope we're just as ruthless when/if the negotiations start.. | jcgswims | |
22/7/2020 08:13 | Just spotted that too Jcg | eggchaser | |
22/7/2020 08:07 | "Given the Offer was not consistent with the Option, the Company did not accept the Offer. Furthermore, given acceptance of the Offer would potentially put the Company in breach of the Conditions of the Merger, the Company advised Predator, at the time it received the Offer, that it had no intention of accepting the Offer and made Predator aware of the Conditions" Good. | jcgswims | |
22/7/2020 07:52 | It would appear that the PRD board are an opportunistic bunch working on behalf of shareholder value. Ahhh if only. | chrismick | |
22/7/2020 07:46 | Yes it was initially $4.2m. Maybe they are sensing we are in trouble (rightly or wrongly) hence the merger and put a derisory offer in. We shall see if our "master" negotiator Tony Hawkins can produce a better deal when/if the merger takes place... | jcgswims | |
22/7/2020 07:38 | Skip reading but it looks like PRD get to purchase FRAM for $1.75m instead of $4.5m????Wtf?? | eggchaser | |
22/7/2020 07:34 | Oh hello - anyone spotted this that was announced this morning....Predator Oil & Gas Holdings PLC Offer to Acquire FRAM Exploration (Trinidad) Ltd.Source: UK Regulatory (RNS & others)TIDMPRDRNS Number : 6857TPredator Oil & Gas Holdings PLC22 July 2020FOR IMMEDIATE RELEASE22 July 2020Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & GasPredator Oil & Gas Holdings Plc("Predator" or the "Company" and together with its subsidiaries "the Group")Offer to Acquire FRAM Exploration (Trinidad) Ltd.Subject to ContractPredator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations focused on developing carbon-neutral businesses in Trinidad, Morocco, and Ireland, announces that pursuant to the Well Participation Agreement ("WPA") dated 17 November 2017 as amended by Supplemental Agreement No.1 dated 31 May 2018, Supplemental Agreement No.2 dated 21 January 2019 and Supplemental Agreement No.3 dated 26 September 2019 between FRAM Exploration (Trinidad) Ltd ("FRAM") and Predator Oil & Gas Trinidad Ltd ("POGT"), POGT served written notice on 14 July 2020 of its intent to exercise its option under Recital B of the WPA to make an offer (the "Offer") to enter into a Share Purchase Agreement to acquire the entire outstanding issued share capital of FRAM assuming zero net debt at the time of Completion, and Subject to Contract, technical, legal and commercial due diligence.Conditions Precedent, Cash Consideration and Terms and Conditions were commercially sensitive at the time but can now be summarised belowConditions Precedent1. The receipt of written consent prior to Completion from the Ministry of Energy and Energy Industries ("MEEI") and Heritage Petroleum Company Ltd. ("Heritage") for the proposed Change of Control of FRAM. 2. The receipt prior to Completion from FRAM of a mutually agreed Working Capital Statement. 3. Columbus Energy Resources Plc ("Columbus"), FRAM's parent company, to provide a written, legally binding, warranty to POGT prior to Completion that there are no outstanding claims against Columbus of whatsoever nature as a consequence of which a lien on the assets of FRAM might arise.Cash ConsiderationThe Offer comprised a cash consideration of one million seven hundred and fifty thousand United States Dollars (US$ 1,750,000) exclusive of VAT, where applicable.Terms and Conditions1. The Offer was valid for five (5) business days from 14 July 2020, expiring at 5pm UK GMT on Tuesday 21 July 20202. The Offer was conditional on, among other matters, a Working Capital Adjustment to be mutually agreed at CompletionOffer Deadline ExpiredThe validity of the Offer expired at 5pm UK GMT on Tuesday 21 July 2020.Columbus are currently in a proposed merger that under the Scheme Document prevents the disposal of any material asset.Accordingly Predator will progress discussions further with Columbus when facilitated by conclusion of the Columbus proposed merger and before the expiry of the period under the WPA relating to Predator's rights upon a change of control of FRAM, insofar as it may or may not impact Predator's forward planning for expansion of CO2 EOR activities in the Inniss-Trinity field.Predator is recommending to carry out an oil rate test for well AT-5X within the next two weeks to assess the impact of significant CO2 injection to date on the potential for oil to flow from the injected reservoirs in Inniss-Trinity at enhanced rates and to assess changes in the properties of the oil with which to re-calibrate the CO2 injection parameters if required. Effectiveness and retention of CO2 sequestration capacity can also be assessed.FinancingTh | eggchaser | |
22/7/2020 00:27 | BPC/CERP MERGER TIMETABLE INFO Bahamas Pet /Columbus merger Appendix 1 (EXPECTED TIMETABLE OF PRINCIPAL EVENTS) | tomford8 | |
21/7/2020 16:20 | I have done a little bit of research and reckon that oil demand is expected to peak around 2030. And as for Nuclear which I particularly favour as an alternative you can forget that. The world needs hundreds of new ones and they should have started building them 20 years ago !!! | ride daice | |
21/7/2020 15:57 | Funny you say that Guns - you appear to favour Oil stocks with your historic posts - strange strategy from a tree hugger? Clearly here to disrupt ain't ya?! | eggchaser | |
21/7/2020 15:54 | You used to hold GKP back in the day didn't you? | eggchaser | |
21/7/2020 15:34 | Have you researched this before posting ? 10 years you think ? | ride daice | |
21/7/2020 15:19 | Abandoned CERP, the relatively environmentally friendly CO2 appealed but I have evolved out of playing ‘pin the tail on the donkey’, which surmises wildcat offshore drilling nicely. Don’t think the world needs more barrels, within ten years gas, nuclear, cleaner liquid fuels with carbon capture will supply both base electricity generating load and peak shaving. One tiny spill and Cuba will act very harshly imo... | gunsofmarscapone | |
21/7/2020 15:00 | you wana look at on of the OPTI threads 100 posts filtered to one readable one, its the worst i have ever come across, every pigging day. i do hold these | humphries1 | |
21/7/2020 12:33 | We already had our begging bowel for that to happen!I just like to give said idiots a taste of their own as they don't like it up em!!Issue is it spoils it for others so I've posted my last comment on the BPC thread.Looking at the thumbs up pole I did on this thread the merger going through ain't as clear as it appears... I recon it's 50/50 at best. | eggchaser | |
21/7/2020 11:50 | I would consider it but it would have to be the case that people would need to use the filter and if anyone responded to any trashers that I can't moderate, then they would have to be moderated, so the board doesn't befall the same fate as the BPC one. We had it here a while ago (funnily enough with the initials GS also) and that's the only way it would work. | jcgswims | |
21/7/2020 11:40 | The BPC thread appears to have been trashed by a couple of idiots. jcgswims - Should the merger proceed can I ask, is it your intention to start a new monitored thread? | bahamasoil | |
21/7/2020 09:39 | As of last nights close the comparative price for the merger was equivalent to a premium of 0.0036675p per share for CERP or just over 2%. This represents a fall of over 30% to the BPC price and over 27% to CERP at the time the merger was announced. The market seems to have spoken here, lat us hope some clarity for both companies at the end of the week on the way forward strengthens the market accordingly. GLA | ulvers | |
21/7/2020 09:30 | U.S. demand for petroleum and liquid fuels is expected to remain below the 2019 average from before the COVID-crisis until August 2021, despite the uptick in consumption in recent weeks, the U.S. Energy Information Administration (EIA) said on Monday. -------------------- Total demand for motor gasoline, distillate fuel oil, and jet fuel crashed in March and April due to the stay-at-home orders and reduced travel as states were trying to curb the spread of the coronavirus. Demand has increased since the lows in April, and will continue to rise in the second half of this year as economic activity picks up. Yet, total demand levels will continue to trail the pre-crisis levels until August next year, the EIA has estimated. In April, U.S. consumption of liquid fuels reached its all-time monthly low since the early 1980s at an average of 14.7 million barrels per day (bpd), according to the administration. The oil demand crash in April, when most of America was under stay-at-home orders, resulted in the biggest monthly inventory jump in U.S. commercial crude oil inventories in data going back to 1920, the EIA said earlier this month. In terms of volumes, nearly half of the plunge in fuel consumption in 2020 has come from low gasoline use. This year, gasoline demand is expected to average 8.3 million bpd, down by 1.0 million bpd – or 10 percent – from 2019. Next year, with rising employment, gasoline consumption is set to increase to 9.1 million bpd, or to be some 2 percent less than its 2019 average. All liquid fuels consumption in the United States this year is set to average 18.3 million bpd in 2020, down by 2.1 million bpd from 2019, according to EIA’s July Short-Term Energy Outlook (STEO). Next year, U.S. liquid fuels consumption will average 19.9 million bpd, still below the 2019 average of 20.5 million bpd, according to the EIA. -------------------- | nexus7 | |
19/7/2020 11:58 | 11% premium f--kin ? | blind man |
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