Desire Petroleum Share Discussion Threads

[efagie] 15/10/2013 12:46

agna, as per the ami.

[agnabeya] 15/10/2013 12:06

efagie -

I'm wondering about big oil taking out both, RKH and PMO together, in the FI.
I was reading an article yesterday saying that it was easier now for oil majors to buy up small companies who have found the oil already.

Agree with you about the others - in time.
I'd be happy with Noble.

edit: Was Kenya one of the areas of mutual interest?
I can't remember.

[...]

[efagie] 15/10/2013 10:15

agna. to your edit, in time fogl to noble. arg not worth it yet.

[efagie] 15/10/2013 10:14

surely agna, only to pmo, since no one seemed interested before that.
given the pmo/rkh deal and the standstill agreement, only pmo may been seen as candidates. and may try the fogl route. though don't think sam and the bod would be as amenable as phipps is.

[agnabeya] 15/10/2013 00:40

Highlander - it's happening sooner than I thought it would - but I think it's been on the cards since the PMO deal.

edit: I wonder if the others will be TO candidates too if RKH are taken over?

[highlander7] 14/10/2013 19:16

I see Goldmans have identified RKH as a TO target.

[eburne1960] 07/10/2013 05:20

From Shares magazine:

Consolidation among the Falklands oil explorers dominates the junior oil sector today as Falkland Oil & Gas (FOGL:AIM) moves to acquire Desire Petroleum (DES:AIM) in an all-paper recommended offer valuing the latter at 18p a share.

In response FOGL is down 5.6% to 26.9p – suggesting its shareholders are uncertain on the merits of the deal – Desire itself gushes up 29.4% to 15.9p. Concurrently Premier Oil (PMO), unchanged, and Rockhopper Exploration (RKH:AIM), ahead 1.6% to 130p, announce plans (conditional on the agreement going through) to farm-in to two of Desire's licences in the north Falklands basin (the prospective acreage off the disputed South Atlantic islands is split between the northern and southern basins which have very different geologies).

The net result is the Desire-FOGL combination will participate in five exploration wells late next year – two in the south and three in the north. The costs on four of these wells are carried and this should preserve the combined company's £170 million cash position. What hasn't changed is that, in the absence of further corporate activity, investors will have to wait until the end of 2014 before there are material catalysts for these shares.

Broker Oriel Securities, which reiterates a 'buy' rating on Falklands Oil & Gas and offers 'hold' advice on Desire, comments: 'This is a good deal for FOGL as it has broadened its portfolio around the Falklands while preserving its cash and gaining three carried E&A wells in the North.'

VSA Capital analyst Dougie Youngson says: 'This is a positive series of transactions for the Falkland peer group and removes a huge amount of uncertainty in terms of future drilling. Instead of having a group of companies seeking their own funding the new "combined" entity is a much stronger platform to drive exploration in the region forward.'

[ghostofahangman] 06/10/2013 14:31

Hello hello is that Bucannon,?yes. hello it's Plast and Agna from the ADVFN thread, why did we read about the duster in the Sunday times before a official RNS......BANG

[agnabeya] 06/10/2013 10:49

AFB - I don't think any of these companies gives a hoot or works for us - the small PI. Yes we finance them - but they ultimately only work for themselves and the II investors. No matter what they may say at the beginning.
HeY ho - that's capitalism for ya - but what we have to try is to make profit on the upswings - and sell high/buy low. We have to be our own capitalists.

Good luck with it anyway. I think this deal gives a fighting chance of making some money sooner rather than later. :)

[undervalued companies] 05/10/2013 14:38

Indeed but laughs along the way they are drinking to your health with the wine business the Phipps & co also financed out of your loot.

If your interested there new business is venture capital buying up dodgy firms like conservatory companies going bust in the west midlands or dodgy car dealerships so the next time a dodgy firm rings the door bell it's no doubt been financed by Phipps & Co through the fogl/DES merger.

[a.fewbob] 05/10/2013 13:11

Yes, Phipps and co have come out of this looking like a real bunch of crooks. 15 years of drawing fat salaries for very little return. Just how much time do they really spend working for us? Greedy left wing theives.

[a.fewbob] 05/10/2013 11:44

It's easy to forget that in the north basin they found plenty gas. Liz, johnson and gas caps on most of the oil discoveries too! I don't hear any Rokys complaining about a gasy north basin!

[agnabeya] 05/10/2013 11:40

AFB - moaning never solved anything. I'm happy for Phipps and Co to be out of the picture (effectively) and see where that takes us. I made a lot on des (by lucky hunches)- and will use the same tactics this time around.

I've thought about the FOGL acreage - it's supposed to be huge and if they got only half the amount we hear about - that's a 40% share of that to DES - or at least to the shareholders through their FOGL shares.

Good luck with it. It's back to waiting and watching for the rig news next. :)

[a.fewbob] 05/10/2013 10:50

Lots of people moaning. I hold RKH, DES, BOR and FOGL. I have made money from RKH and DES by luck more than judgment!

Being that I hold both DES and FOGL kind of makes me inpartial as to which company i think got the best deal. I feel DES came out better because I believe FOGL is almost certainly sitting on some very big oil, condensate prospects and some massive gas prospects. I'm sure even the gas will get produced some day.
All the moany hard done by DES holders should go on FOGLs web site and do some research on the south basin.

The biggest threat to all the small oil explorers in the FI is the current lack of interest by the stock market. Finding oil exploration in an area the size of FOGLs will take some serious money and luck, just look at how DES managed to miss time after time after time........ and yet we now know they are quite likely sitting on a billion barrels plus!!

With a little luck FOGL will hit oil before thy run out of money! In my view they even just need to find uncomercial oil just to shut the "south basin is only full of gas" brigade.

[agnabeya] 05/10/2013 10:32

AFB -
Filter is Golden :) You don't have to put up with it.
At least when loonies come crawling out of the woodwork - it's a good sign for the shares.

[a.fewbob] 05/10/2013 09:07

Shut your noise all of you! Bunch of wets.

[eburne1960] 05/10/2013 02:20

Did try to tell you, but you wouldn't listen......

[agnabeya] 04/10/2013 16:13

Bard - I agree with you about the acreage - for various reasons. But at least we know it's in FOGL's interest to drill and find more oil on the DES acreage.
It gives them oil whereas they've only had poor results to far.
With FOGL - we'll be drilling end of 2014/ beginning 2015.

And if FOGL do strike oil - we get 40% of that too.

In the meantime - ride the waves of optimism - get out - then get back in again in the sloughs. Just don't keep it all in for results.

It does bother me that no-one else was tempted to throw there hat into the ring.
I suspected a sell out was on the cards which I hoped would mean a bidding war. Hey ho - I expected more from Sp's greedy disposition than 17p
However, as I am getting dangerously close to breaking even, I won't quibble.

I read it as a joint venture when I read the RNS first thing - but I realise now it was basically DES BOD taking the whole shebang of shares and money - and investing them in FOGL.

I hope they drill the NFB first as the better target. If they hit a duster in their own territory first, the share price will crash. Better to try a higher COS first IMHO.


edit: It's ironic in a way - I have never held FOGL as I never fancied them.
DES I hardly been without - and thanks to them - I'm now a FOGL holder.
It's a funny old game. ;)

[from bard to verse] 04/10/2013 15:16

Combination, takeover, merger, sell out... What's in a name?

Methinks "that which we call a rose by any other name would smell as sweet.....".

Bottom line = DES sold (out) for 17p. Never thought that Phipps would ever do that! NFB licences remain always far more attractive than SFB IMHO. Bad deal!

[ghostofahangman] 04/10/2013 08:42

Arrr don't mention Tora