Encore Oil Share Discussion Threads

[cashandcard] 05/12/2011 13:54

Repo,


DEO will have to arrange something quite amazing in these markets to fund their way forwards. Their interests should see drilling before too long.

I think SLG have got plenty of follow-on potential around Breagh which is part of the wider plan for the greater Breagh area. They will probably farmdown at Cladhan and other areas (they have already demonstrated that is their favoured route to monetisation).

NPE, definately one to go in the porty now EO. is on the way to being done and dusted. They will benefit from Catcher and (possibly) Tudor-Rose.

ENQ, as a longtermer yes. I tend to prefer smaller companies that have plenty of milage but offer alot of potentail for growth.


Cash

[lowersharpnose] 05/12/2011 13:51

cashandcard,

I put all my EO. money into GKP, I now have a near farm size bet on Kurdistan.

[lanaken] 05/12/2011 13:43

cash,

Take a look at the SLG Q3 update and the Breagh loan details. How is DEO going forward from where they are when SLG/EO got so royally screwed? Don't get me wrong they've got nice assets and a nice explo team, but I just can't see it.

ENQ may look more boring but they have the assets and the cash and their managers have put loads of their own dosh in. They could buy DEO, pump some money in and float it off 18-24 months down the track and make a shedload of money.

PMO will also to well because they are like I was when I was buying houses; a vulture.

NPE will do well because they have enough marketable assets and cash to get them through to the next stage. AEY have similar and the cash and carrys to do the same. SLG will sell bits off/farm down or get taken out. If they don't, then I'll be voting with my feet because I have a suspicion that the CEO's balls are bigger than his brains.

DYOR,

repo

[cashandcard] 05/12/2011 13:24

guesswhosback,


The news on T-R could be out any day now. I suspect a material event there could change the final outcome. If positive, PMO may have to raise the cash price to see the deal goes through.

LSN, would you not consider holding depressed PMO paper?
I am looking at AEY, NPE, DEO and hope to take more in SLG (next year Breagh comes online and Cladhan channels get appraised further).


Cash

[lowersharpnose] 05/12/2011 13:20

gwb, I am out.

[guesswhosback] 05/12/2011 13:18

Yep looks like a stitch up the longer it goes on. I cannot be a happy investor at 70p. I have written to the company but surprise surprise I did not get a response. I have kind of written them off now. There was a time when I supported Mr Booth and got many to invest here.

Yes I have voted against.

[lanaken] 05/12/2011 10:09

Well I've voted against with the remainder of my holding in Internaxx that I'd forgotten about;-) The electronic voting closes tomorrow.

FWIW,

The XEO float document puts the CoS at 75%.

Risked resources for XEO's 40% at 18mm bbl.

It looks like NPE have nicked that, Coaster and all the upside on the remaining Catcher block and got Cladhan for next to nothing.

repo

My cynical side says the positive TR result will come the day the result is announced.

[scaleyman] 05/12/2011 08:37

My corporate action notice appears to give deadline of 6th Jan 2012??? (Natwest)

[alexx] 05/12/2011 07:54

re PMO or cash.

I would just remind people that if you take cash then that will mean EO. gains are subject to cgt, otherwise the gain is carried forward into PMO with no immediate liability.

[whackford] 05/12/2011 07:52

Last chance saloon is empty of any counterbid, so time to vote for the Scheme.

[jimsned] 04/12/2011 22:00

Make sure you all vote!

[typhoon] 03/12/2011 09:33

LOL! I guess I should have qualified that statement by saying do I go for the 70p or the shares or just sell the shares on any price upward movement?

As far as I can see taking the PMO paper makes the most sense...but you just wonder if anything is going to happen to see the price offer improved by PMO which may make that decision redundant...time will tell I know!

[golcheja] 02/12/2011 17:14

throw it to the bin

[typhoon] 02/12/2011 15:05

Just received my mail and voila a letter regarding Encore from Barclays...now what shall I do?

[leedskier] 02/12/2011 13:14

EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Event Time and/or date
(1)
Latest time for receipt of Blue Form of Proxy (or appointing
proxies electronically) for the Court Meeting
11.00 a.m. on 8 December 2011
(2)
Latest time for receipt of White Form of Proxy (or appointing
proxies electronically) for the General Meeting
11.10 a.m. on 8 December 2011
Scheme Voting Record Time 6.00 p.m. on 10 December 2011
(3)
EnCore Court Meeting 11.00 a.m. on 12 December 2011
EnCore General Meeting 11.10 a.m. on 12 December 2011
(4)
EnCore AGM 2.00 p.m. on 14 December 2011
The following dates are subject to change; please see note (5) below
Court hearing to sanction the Scheme 11 January 2012
Latest time to elect for Share Alternative, i.e. receipt of Form of
Election or submission of a valid TTE instruction on CREST
1.00 p.m. on 11 January 2012
Latest time for withdrawal of Form of Election or submission of a
valid TTE instruction on CREST
1.00 p.m. on 11 January 2012
Last day of dealings in, and for registration of transfers of,
EnCore Shares
12 January 2012
Reduction Record Time 6.00 p.m. on 12 January 2012
Suspension of admission of, and dealings, settlement and transfers
in, EnCore Shares
by 7.30 a.m. on 13 January 2012
Court hearing to confirm Reduction of Capital 13 January 2012
Effective Date of the Scheme 16 January 2012
Cancellation of admission of EnCore Shares to trading on AIM by 8.00 a.m. on 17 January 2012
New Premier Shares issued, listed and credited to CREST
accounts
by 8.00 a.m. on 17 January 2012
Commencement of dealings in New Premier Shares on the London
Stock Exchange
by 8.00 a.m. on 17 January 2012

[leedskier] 02/12/2011 13:06

As described in the Scheme Document, to become effective the Scheme will require the
approval of Scheme Shareholders at the Court Meeting and the passing of special resolutions at
the General Meeting of EnCore. The Court Meeting and the General Meeting are scheduled to
be held at Glaziers Hall, 9 Montague Close, London SE1 9DD on 12 December 2011
respectively at 11.00 a.m. and 11.10 a.m. (or as soon thereafter as the Court meeting is
concluded or adjourned).

[leedskier] 02/12/2011 13:05

If you hold your EnCore Shares in uncertificated form (that is, in CREST) you may vote using the CREST proxy voting service in
accordance with the procedures set out in the CREST Manual (please also refer to the accompanying notes to the notice of the
General Meeting set out at the end of this document). Proxies submitted via CREST (under CREST participation ID ''RA10'')
must be received by Capita Registrars not later than 11.00 a.m. on 8 December 2011 in the case of the Court Meeting and by no
later than 11.10 a.m. on 8 December 2011 in the case of the General Meeting (or, in the case of an adjournment of either
Shareholder Meeting, not later than 48 hours (excluding any part of a day which is not a working day) before the time and date
set for the adjourned Shareholder Meeting).

[goodgrief] 02/12/2011 12:29

I got a letter in the post from Barclays this morning...

typhoon - 2 Dec'11 - 09:30 - 43349 of 43355

I have still heard nothing from my broker Barclays, and hope to soon...as am I not right in thinking something takes place soon in December??

[robpuguk] 02/12/2011 12:03

Lanaken, they did RNS the spud mate - 17th of november.. lost amongst all these holdings RNS's lol

[lanaken] 02/12/2011 11:59

I have my doubts that Encore will RNS the result. They didn't RNS the spud and there has been so little news flow since about June that I suspect they've given up.

An offer for Catcher or Cladhan on Monday is the result that I'll be looking for.

now that would be news;-)

repo

[robpuguk] 02/12/2011 11:07

16 and a half days into the tudor rose drill....

News monday?

[typhoon] 02/12/2011 10:21

Thanks Rogsim appreciated