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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Conder Env. | LSE:CDE | London | Ordinary Share | GB0002868114 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.35 | - | 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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02/5/2006 08:49 | tsmith9426, Not sure to be honest, I rang Peter Hughes earlier this year, and he said it will be only be an institutional placing due to time constraints, but I will ring and ask again this morning, and post the answer later. | andy | |
02/5/2006 08:48 | MmorrisMikey, Absolutely, quality of management is of paramount importance IMO. I don't invest in a company unless I have faith in the quality and integrity of mangement. (If that opinion changes, I sell, and that has served me well over the last couple of years, RPT and NML being two examples). | andy | |
02/5/2006 08:47 | one squid by September is my bet :-) | leesonlookalike | |
02/5/2006 08:46 | andy do you think we will get a chance to buy in the placing tony | tsmith9426 | |
02/5/2006 08:45 | Should do fine even with the additional £25m share to be issued, long term the company is strong with first class management in place IMO MM | mmorrismikey | |
02/5/2006 08:45 | Exactly EB! £50m value less £25m raised = £25m for the 180m currently in issue? | hard work | |
02/5/2006 08:44 | leeson, LOL! EBB, Correct,we will have to wait and see what the placing price is! | andy | |
02/5/2006 08:41 | I agree Andy - the wait will be worth it am sure :-) My whoooooosh's are just good old braisen confidence :-) | leesonlookalike | |
02/5/2006 08:39 | leeson, Well the conformation of the AIM transfer should harden the price, and add interest IMO. Not sure about a "whoosh", but hopefully a bit of a lift from here, once the details are announced. So reassuring to see them achieving their objective of AIM admission on schedule, quality of management is key, and CDE are delivering so far, IMO. | andy | |
02/5/2006 08:38 | What about the other £25m worth of shares to be issued? | english bigblls | |
02/5/2006 08:30 | "The company, set up to acquire oil and gas assets across the Russian federation, is expected to be valued at around £50m when it comes to market later this month." 14p per share then for the 180m currently in issue | hard work | |
02/5/2006 07:53 | lets hope for a GAP up, or a WHOOOOOOOSH as I like to say :-) | leesonlookalike | |
02/5/2006 07:50 | A mention here.. | maxk | |
02/5/2006 07:49 | "As part of the acquisition the company will also acquire a dedicated rail terminal giving the company flexibility over the delivery of its oil to market and thereby avoiding dependence on Transneft and the capacity constraints affecting the Russian pipeline system. " interesting as obviously the capacity within the pipeline, implied is not enough. | habayyut | |
02/5/2006 07:46 | "As part of the acquisition the company will also acquire a dedicated rail terminal giving the company flexibility over the delivery of its oil to market and thereby avoiding dependence on Transneft and the capacity constraints affecting the Russian pipeline system. " .... sounds time consuming !?! | leesonlookalike | |
02/5/2006 07:08 | Concorde Oil and Gas plc - Acquisition Update NOT FOR PUBLICATION DISTRIBUTION OR RELEASE IN OR INTO THE UNTED STATES, CANADA, AUSTRALIA or JAPAN Tuesday 2nd May 2006 Concorde Oil and Gas plc ("Concorde" or "the Company") Intends to seek admission to the Alternative Investment Market ("AIM") Funds will allow completion of acquisition of Pechora Energy Concorde Oil and Gas is an Ofex listed company seeking to acquire operational oil and gas assets in the Russian Federation. THE PLACING Concorde is to seek admission to AIM through a placing of shares by VSA Resources Limited to raise approximately *25 million. The proceeds of the placing will be used to: * complete the acquisition of Pechora Energy, * start a development programme to increase production and proven reserves, * identify additional suitable acquisition opportunities, and * fund general working capital purposes. Marketing has commenced and admission is expected to take place during May. VSA Resources Limited is acting as Broker and Adviser to the Company and Beaumont Cornish Limited is acting as Nominated Adviser. THE ACQUISITION In March 2006, Concorde signed a conditional contract to acquire Pechora Energy ("Pechora") for a total consideration of US$25 million subject to adjustment following the finalisation of completion accounts. Pechora, a private Russian company, owns rights in the Luzskoye Field situated in the Timan-Pechora Basin in the north-east of the Russian Federation. The field has been evaluated by Miller and Lents Ltd, a firm of independent petroleum engineers based in Houston, Texas, and contains an estimated 33 million barrels of crude oil under the categories of Proven, Probable and Possible. As part of the acquisition the company will also acquire a dedicated rail terminal giving the company flexibility over the delivery of its oil to market and thereby avoiding dependence on Transneft and the capacity constraints affecting the Russian pipeline system. Current production is around 245 barrels of crude per day from one well, with two additional wells ready to come on stream. FUTURE STRATEGY Concorde's future strategy involves a development programme which includes 3D seismic and a number of development wells on the Luzskoye field to increase production and proven reserves, as well as the evaluation and acquisition of other underperforming assets in the Russian Federation. There is also the opportunity to expand the capacity of the rail terminal. MANAGEMENT The key executive directors are former Texaco employees with extensive Russian experience. Peter Hughes, Chief Executive Officer, has spent over 25 years in the oil industry, most recently as Vice President of Contracts and Negotiations for Texaco Exploration Worldwide Growth, a subsidiary of Texaco Inc. He was seconded to the DTI as an advisor on the Former Soviet Union between 1994 and 1996. John Rigby, Chief Operating Officer, has over 20 years experience in the oil industry, acquiring and managing assets for Texaco in various parts of the world including the Middle East and the Former Soviet Union. The Non-executive Directors include Grigory Gabrielyants who has held a number of positions in the Russian oil and gas industry and served as Minister of Geology of the Soviet Union from 1989 until 1992. PETER HUGHES, CHIEF EXECUTIVE OF CONCORDE, SAID: "Admission to AIM will enable us to raise sufficient funds to complete the acquisition of Pechora Energy and start to implement our development plan which we believe will significantly increase production in the coming years. "Going forward, we will continue to use our Russian experience and contacts to identify further underperforming oil and gas assets in the region that are suitable for acquisition." ENQUIRIES: CONCORDE OIL AND GAS 0783 660 7637 Peter Hughes, Chief Executive John Rigby, Chief Operating Officer VSA RESOURCES 020 7628 3989 William Voaden / Neil Pidgeon / Brian McBeth BEAUMONT CORNISH 020 7628 3396 Roland Cornish / Rosalind Abrahams COLLEGE HILL 020 7457 2020 Ben Brewerton / Paddy Blewer The content of this announcement has been prepared by, and is the sole responsibility of, Concorde Oil & Gas plc (the "Company"). Beaumont Cornish Limited ("Beaumont Cornish") is acting as nominated adviser to the Company and will not regard any person other than the Company as its customer or be responsible to anyone other than the Company for providing the protections afforded customers of Beaumont Cornish or advice in relation to the proposed admission. VSA Resources Limited ("VSA") is acting as broker to the Company and will not regard any person other than the Company as its customer or be responsible to anyone other than the Company for providing the protections afforded to customers of VSA or advice in relation to the proposed admission. No invitation or offer to acquire shares in the Company is being made by or in connection with this announcement. The Company proposes to publish an admission document in connection with its proposed admission to AIM in due course. This announcement may contain certain forward-looking information which may be subject to risk and uncertainties that could significantly alter expected results and are based upon certain key assumptions. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward- looking statements, which speak only as of the date hereof. The Company, Beaumont Cornish and VSA disclaim any obligation to update any forward-looking statements contained herein, except as required by applicable law. | hard work | |
28/4/2006 21:05 | I'm sure I read it somewhere that Peter Hughes said that their business model could cope with the two scenarios - selling to the state at $25 per barrel, or selling at market price and paying 90% tax on the difference. From their last release (and seeking to educate myself!): "The field consists of a number of Devonian reservoirs, which have tested high grade, low sulphur 40 API oil, with some paraffin" Is this higher quality than crude, and if so, what is the market price compared to crude? | hard work | |
28/4/2006 17:34 | Andy, your last comment is so so true! (unfortunately) Reason I bought in here (at and above current s/p) is the management quality and I think as ZENGAS once said/hinted, these guys are going to be after big results. The FSU has vast reserves, and I feel sure the team Concorde are building will provide 'leverage' to the deals we conclude. May take time, but consider your shareholding in 2/3 years, think all will be smiling. I'm sure these guys are working hard and as shareholders we will be suitably rewarded for being 'early on the curve', though I am not as early as most here! Good luck all. | ttnyrp | |
28/4/2006 08:56 | Come on CDE !!! so ya stuff !! get to AIM :-) get on to the bigger Radar | leesonlookalike | |
28/4/2006 08:56 | gdennett, Thanks for posting that, but I don't see it as a negative to CDE, as the tax break never existed anyway, so they haven't lost anything! And if they pay the tax in Russia, which reduces CDE's declarable profits, less tax will be payable in the UK. Either way, tax will have to be paid somewhere! Only two things certain in life are death and taxes! | andy | |
28/4/2006 06:37 | i think the article was posted on the UEN thread tonester30ccfc - 25 Apr'06 - 22:41 - 3182 of 3278 'No Timan-Pechora tax break' By Upstream staff Russia is likely to exclude the oil-rich Timan-Pechora region in Russia's north from the list of areas which may soon gain tax exemptions, according to local media reports. The move, reported by the Interfax news agency, quoting a government source, would be a blow for a joint venture between Lukoil and ConocoPhillips which controls the bulk of untapped deposits in the region and plan a massive production boost there. "Timan-Pechora is likely to fall out of the draft law," the source said without giving details. The new law on mineral extraction tax, being debated by the government, is designed to encourage development of remote, difficult-to-tap or depleted oil and gas fields to help Russia maintain and increase its production. It would impose a zero mineral extraction tax rate for some fields until they reach certain agreed production levels. Timan-Pechora was often cited along with East Siberia and the Arctic as a region which might benefit from the new law. Most fields in East Siberia are controlled by state oil player Rosneft and private Surgutneftegaz. Most of the Arctic projects are led by state gas monopoly Gazprom, while state companies are not actively present in Timan-Pechora. | gdennett | |
27/4/2006 21:43 | Is anyone a subscriber to this (didn't fancy stumping up to read the full article) The Moscow Times - Russia ... The government is likely to exclude the oil-rich Timan-Pechora area in the Arctic from the list of areas which may soon gain tax exemptions, Interfax reported ... | ttnyrp | |
25/4/2006 09:44 | fridgebunny THANKS MM | mmorrismikey | |
25/4/2006 09:42 | It should be no later than 60 days from the 23 March. Which I make Monday 22 May, assuming the announcement did not mean 60 working days. | fridgebunny | |
25/4/2006 07:41 | Must be sometime now for entry??? MM | mmorrismikey |
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