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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Encore Oil | EO. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 69.75 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 69.75 |
| Top Posts |
|---|
Posted at 11/10/2012 12:25 by robochubby FRAUD WARNING.A relative of mine holding PMO shares through the EO. takeover was contacted by a company called Carlton Capital Inc, claiming they held 48% of PMO shares and poised for a takeover. They then sent through paperwork and a weblink that looks very authentic, with false forms to transfer share certificates. Just be warned this is a scam, if they contact you hang-up. |
Posted at 17/1/2012 10:11 by spacecake Goodbye EO. and hello PMO! |
Posted at 12/1/2012 12:50 by dorsetlad I have enjoyed the EO. ride and reading this BB immensely since my entry March 2009. I am a novice having only started my SIPP in 2008, but I have learned a lot on this thread (good & bad). Catcher is a great asset to have and 93% EO. shareholder think so also taking PMO paper. It has done my SIPP a world of good and I am encouraged to continue with AIM explorers. All you regulars that post such high quality info. - thanks.What PMO BB are you moving too, there are so many to choose from or will a new one kick-off for ex EO. shareholders? |
Posted at 10/1/2012 12:10 by alexx I was surprised yesterday that the EO. price remained so far above 70p so close to the deadline of acquiring PMO shares. For the average punter it was already too late to apply for PMO so he would surely sell at 80p. Today it's happening. No more people left trying to buy EO. to get into PMO on the cheap.PMO equivalent to 82p on EO. as I write this. , |
Posted at 09/1/2012 10:09 by cashandcard With EO. shares taken from some accounts already, the pool of shares from which late entrants can buy into EO. (for the PMO deal) becomes ever smaller. Those still holding EO. will be able to sell at a very good price - EO. is a sellers market.Cash |
Posted at 08/12/2011 09:28 by cashandcard Repo,Good point. It looks like PMO have already done AB's job for him, go to the industry and flog parts of EO. to the interested parties. Its a shame EO. management could not have done that. Mick also makes a good point above about minimul dilution when the price of EO. was well over £1. PMO paper will have to do I'm afraid. PMO have already nullified any potential bidders by bringing them into the fray. Cash |
Posted at 06/12/2011 17:10 by marben100 geordy,I'd be very surprised if AB had been offered a "side deal" as you suggest. Don't think he's interested in working for anyone except himself, based on the last conversation I had with him on the topic - but I'm going along next week to ask him. I also have a couple of other questions... Personally, I think lanaken hits the nail on the head: "The PMO team have played a blinder. AB and his crew had a stinker in not getting XEO away and at the same time running too low on cash." I also suspect that once PMO and EO. had agreed a price, PMO insisted on the deal being done via a SoA. I have little doubt that AB felt he was acting in everyone's best interests by accepting, when the share price was in the low 40p's, and cash raising or farming-out prospects were poor. I'm also sure he explored all realistic alternatives. He always said he didn't want to dilute shareholders by issuing shares. XEO was the only way to avoid doing that but yet to retain an interest in explo upside. Osborne is not on my Xmas card list (it was his surprise announcement of a tax-raid that scuppered the XEO float, for those that may not remember). As well as my questions, I will be thanking Alan for making me a very tidy sum, by running a tight ship post-Breagh, risking little cash but exposing me to what turned out to be a fantastic reward. Lanaken/CNF, I'm being a little lazy here (as I no longer have a significant EO. holding), but do you have a range of unrisked per share valuations for Encore's interest in Tudor Rose? Cheers, Mark |
Posted at 20/11/2011 22:47 by cashandcard red rook,Good post. I agree with the observations. Alot of information has trickled out about PMO and EO.s circumstances since the deal was announced. We now know that Cladhan is worth circa $54mln on the market. The Catcher block 28/9 still had three undrilled prospects, one (Canarby) particularly large and comparable in size to Burgman oilfield which has estimated STOIIP 80-120mmbbls. The true company maker here is GCA 100% blocks with a focus on the huge Coaster prospect. In my book, it definately warrants atleast one cheap well before a take-over. The geology is on-trend and 3D seismic interpretation is backed-up by discoveries from EVERY prospect drilled in the Catcher area to date. That is as good as it gets in exploration drilling. Although I would reluctantly settle for a PMO paper offer, I think we've been seriously short-handed here. The terms could be far more favourable to EO. if some of the remaining cash went towards drilling LOW-RISK, satellite prospects around Catcher. Nay, even just awaiting the outcome of Tudor-Rose drilling. EO. is the operator and effective 'kingmaker' in the GCA, how on earth was the rug pulled from under its feet? I've been banging on for an age that Cladhan is a very saleable asset and should have been offloaded for a cool amount. We see PMO already agreeing a price of $54mln to offload it to TAQA. That would have been plenty to take us through another two, maybe three rounds of drilling in the Catcher area. Decisions decisions.... Cash |
Posted at 06/10/2011 08:28 by leedskier mikalen, with respect ... your view needs clarifying.1. If the world's stock markets tank over the next three months, PMO may fall, but EO. will be worth 70p a share. 2. If the markets rally and the merger goes through, the value of an EO. share at the merger will be one fifth of a PMO share. 3. Another bid is an outside chance and I doubt serious money is going into EO. on that basis. |
Posted at 05/10/2011 11:04 by leedskier If one takes the PMO paper, which as the chart I posted shows, is trading at a 40% discount from its 2011 highs, if PMO shares recovers, either this year or next to those highs, especially with the EO. assets in the portfolio, it takes the value of EO. shares to about a £1. It is all in the charts.I do not believe any amount of asset sales would have raised EO. back to £1 in the next six months. As for drilling, the downside risks were demonstrated earlier this year. There are lots of small cap oilers with assets, but no cash to exploit them, and they are trading well below their NAV. |
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