Deo Petroleum Share Discussion Threads

[lanaken] 05/3/2012 08:24

PMG all share offer on it's way I fear.

The good news is I suspect Uncle Tom has lined up a massive amount of funding too.

repo

[rhubarbe] 02/3/2012 19:50

And we aren't yet.

[exmooroil] 02/3/2012 16:08

KNOC wants to buy producing assets.

[rhubarbe] 02/3/2012 15:35

I think DEO is too early stage for KNOC..

[the weatherman] 02/3/2012 12:53

I think the next rns from deo will involve knoc.
The Koreans are trawling for North Sea assets.

[fangorn2] 02/3/2012 12:26

Me neither. No thanks to PMG,which, seems as usual, to be defying gravity.

[fangorn2] 02/3/2012 12:26

Me neither. No thanks to PMG,which, seems as usual, to be defying gravity.

[rhubarbe] 02/3/2012 11:59

I'm not remotely interested in PMG paper for my DEO shares. I can't see what's keeping the PMG shareprice where it is now, let alone where it has been.

PMO paper now, that would be different.

[loglorry1] 02/3/2012 08:28

As you probably know repo the problem with a PMG deal for DEO is that after the deal PMG have no money to fund the development of Perth. Unless Tom Cross can convince the banks to give them a whopping great loan I can't see it going anywhere even if they did buy DEO for PMG paper.

Could happen I suppose if PMG can issue paper to buy DEO then more paper to fund development of Perth and then also convince the bank into a bit of reserved based lending but it is a big if.

Good to see the share price heading north though. I just don't know how much volume is behind it though.

Log

[loglorry1] 02/3/2012 08:28

As you probably know repo the problem with a PMG deal for DEO is that after the deal PMG have no money to fund the development of Perth. Unless Tom Cross can convince the banks to give them a whopping great loan I can't see it going anywhere even if they did buy DEO for PMG paper.

Could happen I suppose if PMG can issue paper to buy DEO then more paper to fund development of Perth and then also convince the bank into a bit of reserved based lending but it is a big if.

Good to see the share price heading north though. I just don't know how much volume is behind it though.

Log

[lanaken] 02/3/2012 08:17

Looking at PMG and DEO's graphs and thinking about their shared interests I am wondering whether we are looking at adeal announced soon.

Is PMG paper being pumped up prior to dealing?

repo

[bomfin] 01/3/2012 23:31

Perth's 27 million barrels would at current oil prices bring in about £800 million in taxes to the exchequer. How much good can be done with £800 million?? Do the government have a better way of raising £800 million. Perth development would create Wealth for the country, Jobs for hundreds of people and potential hub for further developments.
Development plan looks a little rushed to me but government should help iron out any difficulties rather than throwing it out. imho dyor

[rhubarbe] 01/3/2012 21:27

Well, he has a lot to sell, I suppose.

[the marlboro man] 01/3/2012 21:19

Broker Daniel has 2000 followers on twitter, and loads more read his blog..

He's always on my 'who to follow' list on my twitter account page. He a complete and utter gobshíte..

But DEO is very illiquid (very few shares in public hands)so it's very possible he alone caused the spike.

Although DEO still looks good value IMO. I nearly bought at 20p-ish so a bit reluctant to pay over 30p now.

Talking about twitter, Paul Curtis just tweeted the following "Oil sector rally continues. I've started slowly selling into it despite strong oil price fuelling corporate bids for the juniors."

[rhubarbe] 01/3/2012 21:11

Still a submarine mountain far as I am concerned. I don't think Binman has as much clout as he'd like us to think.

[alunmorris] 01/3/2012 16:43

This week's rise may be due to Brokerman Dan reccing it on his blog (now sub only). He tweeted today 'DEO Mentioned on New Blog @ 27p. Now trading @ 33.5p!'

I've sold my small holding on the spike.

[rhubarbe] 01/3/2012 14:09

They are seized, which has both advantages and disadvantages...

[lanaken] 01/3/2012 13:59

This is the buying in anticiaption of the news. When the news comes it will either go sharply up or sharply down.

DYOR,

PS

If you had had more coffee your rusty bits might work better.

[rhubarbe] 01/3/2012 13:18

At first glance, yes, it is, but those of us who have grown rusty bits waiting around for a sustained move upwards here need to see more buying...

[lanaken] 01/3/2012 10:51

rhubarbe,

Take alook at a six month chart and tell me that this isn't a sustained move upwards in anticipation of the deal that is so badly needed.

repo

[rhubarbe] 01/3/2012 10:40

Nope, repo. Happy with what I have. I've learned not to buy DEO on a spike..

Distinct sound of hooves on here today.

[matrixtrader] 01/3/2012 10:29

Think that this is key to the rise..another North Sea explorer just got financing .

Iona Energy Announces Proposed Corporate Senior Secured Reserve Based Lending Facility of USD$130 Million


CALGARY, ALBERTA--(Marketwire - Feb. 28, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to announce that it has reached an agreement in principle with a syndicate of lenders comprised of The Royal Bank of Scotland PLC, Lloyds Banking Group and a third U.S. bank, for the purposes of providing a USD$130MM secured reserve based credit facility (the "Credit Facility"). The lenders have delivered to Iona an indicative term sheet and final credit approval has been obtained from Lloyds Banking Group and first stage credit approval has been obtained from The Royal Bank of Scotland and the U.S. bank based on terms and conditions within the term sheet in the usual manner. Final credit approval from The Royal Bank of Scotland and the U.S. bank is anticipated to be obtained on or about March 27, 2012.

In accordance with industry practice, the Credit Facility is subject to ongoing and customary due diligence as well as completion of definitive credit agreements. Drawdowns on the Credit Facility will be subject to such conditions precedent and covenants as are typical of reserve based credit facilities. The Credit Facility is intended to be for a term of 5 years. All amounts advanced under the Credit Facility will be related to Iona's interests and development work programs within the Trent & Tyne Gas Fields, the Kells Oil Field, and the Orlando Oil field.

Additional information relating to the Company is available on SEDAR at www.sedar.com.

About Iona Energy:

Iona Energy Inc. and its wholly owned subsidiary Iona Energy Company (UK) Limited (collectively, "Iona" or the "Company"), is an oil and gas exploration, development and production company focused on oil and gas development and exploration in the United Kingdom's North Sea.