Conder Environmental Share Discussion Threads

[johnyee7] 02/6/2006 17:40

After hours,very naughty.when the share was 10p they had a fundraising at about 2.5p,not nice,I hold a large amount of these and this is realy p*ssing me off.

[sranmal] 02/6/2006 17:27

I'm sure there would have been some PIs who would have been quite happy to stump up the money at, say, 3p-4p!! Doesn't do them much credit placing at 2.25p.

[currypasty] 02/6/2006 17:21

i wonder if the bucket shops, like city equities took some ?

[english bigblls] 02/6/2006 17:19

Nice price.. for them.

[currypasty] 02/6/2006 17:19

a bit of a discount to market price yes, but a quarter of it ????

[currypasty] 02/6/2006 17:18

Friday 2 June 2006

Concorde Oil and Gas plc
("Concorde" or "the Company")


Concorde raises GBP 450,000 via placing.

Further to the announcement on the 30th of May with regard to the six week
extension agreed for the acquisition of Pechora Energy, Concorde Oil & Gas, the
Ofex listed oil and gas company that is in the process of seeking admission to
AIM, is pleased to announce that it has successfully completed a placing
raising GBP 450,000.

DETAILS OF THE PLACING

The placing consisted of 20,000,000 new ordinary shares being placed with
institutions at a price of 2.25p, raising GBP 450,000 before expenses. These
funds will be used for general working capital purposes prior to the
acquisition, and follows on from a similar placing made in January.

[eacn] 02/6/2006 17:03

I see that CDE has today placed 20,000,000 shares at 2.25p to raise working capital prior to the AIM admission.

[andy] 01/6/2006 18:21

leeson,

So do I, it just may take a bit longer!



Jonhma,

I'd be interested to know where your source heard that!

[leesonlookalike] 01/6/2006 15:42

im in at 7p..... i think this will be a multibagger :-)

[johnma] 01/6/2006 15:27

Spoke to a friend in the city as far as he was concerned the deal is still good it has just been delayed - great buying opportunity.

[captainfatcat] 01/6/2006 15:26

Dev I know Vikoma laid a load off last week

[leesonlookalike] 01/6/2006 15:24

good man !! :-)

[johnma] 01/6/2006 15:23

Just bought 50k at 8.5p

[ribton] 01/6/2006 13:39

What level of support do you think CDE has?

[currypasty] 01/6/2006 11:08

anyone know what the 'new' price for the placing might be ?

[andy] 01/6/2006 11:06

WASSAPER,

I agree, I bought with a MINIMUM two year time frame in mind, afterall little acorns don't grow into mighty oaks overnight, time and patience are required.

Clearly it's disappointing that the deal will be done at a lower level, and hence some more dilution, but if the deals they put together are good, (and there seems to be a belief that they will be), shareholder value will increase.

Personally, I thought the fact that an OFEX listed company can raise a debt facility of $100 million through Macquarie Bank as a huge vote of confidence in the management of CDE, and the quality of it's projects.

I am still holding, as the reasons for my intial investment haven't changed.

[wassapper] 01/6/2006 11:00

drewz - who or what is utterly hopeless? If you don't like the deal you should not have bought in at all. If you don't like the management ditto. If you refer to the state of the deal this is what can happen. Where there is a will there is a way. We may be more diluted than we would have liked, but in a 2-3 year timescale this is nothing. Try to trade Ofex stocks but liquidity dries up. Good luck to you whatever your course of action!

[leesonlookalike] 01/6/2006 04:29

due course............. the deal is good, and forthcoming.....

Lee$on

[drewz] 01/6/2006 02:01

Utterly hopeless.

[hard work] 31/5/2006 22:37

Depends on the criteria and covenants attached to the loan.

[mikeysbeast] 31/5/2006 22:33

Why don't they use the $100M debt facility with Macquarie Bank to fund acquisition? This way they can complete the purchase quickly and then raise further funds through share placement for development plan for Pechora when market conditions become more favourable.

[wassapper] 31/5/2006 22:20

Who else will the guys at Pechora do a deal with? They have spent time and money on this. They are not going to throw it all away for the sake of a few days or weeks. There are few deadlines that cannot be moved.

[hard work] 31/5/2006 22:18

Judgement,
Pechora's being bought at $1 per barrel of proven and possible and is currently producing 250 barrels per day.

Are you suggesting that if CDE increase production to 1000, 2000, 10000 per day, it's still only worth that $1 per barrel? It becomes a much more profitable outfit.

I'm trying to get my head round at what level they'll now and try and raise funds - 8p? 5p? 3p? Confidence has been knocked - can it be rebuilt in six weeks, and if not, is there still a deal to be done...

Am feeling a touch negative atm - any help appreciated!!

[judgement] 31/5/2006 20:28

I can't see another deal doing much good unless it's on more favourable terms than the last one. It's difficult to see why anyone subscribing for new shares now would be willing to ascribe any value to the existing equity. Hence, why should they pay more than a penny or thereabouts for new shares?

Any thoughts on why the company (post fund raising) will be worth any more than the cost of the proposed Pechora deal?

[hard work] 30/5/2006 19:43

I agree - I think they'll need another acquisition to keep momentum in the share price - it doesn't take much for the share price to move and those who don't want to wait a max. of 6 weeks will move on, depressing the share price, meaning a higher level of dilution when it does eventually move to AIM.