Exillon Energy Share Discussion Threads

[unwize] 17/12/2013 17:53

Average paid more like £3.70, Sinclair and Seneal won't care about the price on the LSE, they already know EXI's reserves worth a lot more than the price suggested by "the market" which is why they were prepared to pay far more for large chunks of the company.

[the stinger] 17/12/2013 17:47

Heavy losses incurred by both sinclare and seneal. Ave £3.60 paid tomorrow may see £1.30.....phew.

BOD statement would be good,,,however i've a feeling they've been hoodwinked and are now hiding with tails up their backsides...

[loglorry1] 17/12/2013 17:42

Sinclare's motives must have been either to block the deal or to wash Arip's stake (although I'm not convinced by this washing theory).

It won't matter much stock will sell off hard in the morning anyway.

Log

[roubini paulio] 17/12/2013 17:38

If Sinclare are not bidders, had no intention of bidding what was the point of paying for such a large stake apart from a profit selling on or blocking a bid in whose interest.

They will now probably take a much larger hit unless games are still to be played.

[stemis] 17/12/2013 17:21

I can't see Sinclare as bidders so it looks like they won't agree to the price that Seneal want to pay and are blocking the bid.

[drsmessguide] 17/12/2013 17:19

Why do you say sinclare wont bid? Surely they can buy seneals shares and bid for the rest, otherwise what was the point

[maxp4] 17/12/2013 17:18

Sadly looks like I've been right no bid. The burgers are playing dirty. Another year to wait, unless some yet un named bidder comes forward. The board will have to respond tomorrow let's see what they have to say. Back to the £1.40s tomorrow

[tonysss13] 17/12/2013 17:16

well they haven't even declared they are considering making an offer, so the offer period is now ended. I guess it is possible that Seneal now sell to them at above the £3.77 paid. but who knows with this lot. The price action certainly isn't suggesting that is going to happen and i'd expect further weakness tomorrow if no fresh news

[drsmessguide] 17/12/2013 17:12

what does it all mean ???? Clear run for sinclare but at what price

[tonysss13] 17/12/2013 16:54

FOR IMMEDIATE RELEASE 17 December 2013

Statement regarding Exillon Energy plc ("Exillon")

On 4 December 2013, Seneal International Agency Ltd ("Seneal"), a company ultimately controlled by Alexei Khotin who is the ultimate beneficial owner of the RusOil group, announced that it had acquired 29.99% of Exillon's issued share capital from Mr. Maksat Arip and that it was reviewingpotential opportunities including the possibility of making an offer for the remaining issued share capital of Exillon.

Seneal now confirms that it does not intend to make an offer for the remaining issued share capital of Exillon.

As a result of this announcement, Seneal will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the the City Code on Takeovers and Mergers (the "Takeover Code"). Seneal reserves the right (on behalf of itself and anyone acting in concert with it) to make or participate in an offer for Exillon (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Takeover Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 on Rule 2.8 of the Takeover Code.

[tonysss13] 17/12/2013 16:54

Seneal withdraws

[roubini paulio] 17/12/2013 12:53

Hasn't been a formal offer as yet? Don't the two large holders have until the eom to put up or shut up?

[buffythebuffoon] 17/12/2013 12:12

108 calendar days of 11 December 2013

Takeover completes around the end of March?

Buffy

[steve73] 17/12/2013 03:01

Well Black Rock are buying again at these discounted prices (although they're also still increasing their short a little), but they're back over 1% net position.

[alexios1201] 16/12/2013 00:05

This one is a short to 160pStops at 255

[nufcfan] 15/12/2013 13:31

Exactly ..the bod will be in a poor position if a t/o doesn't materialise given the Russians share holdings and they would have been badly advised by Goldman's if there is not a plan b given the pretty obvious potential issues at commencement of the sales process...to be honest exi has been tainted with arip's involvement and although I am happy he has now been replaced... who or what has he been replaced by....we all need to tread carefully....as said exi fundamentals have continued to improve throughout the process but if no t/o then it all becomes a potentially messy situ....it's a shame that a great asset like this is ending up with all this conjecture....I believe a t/o will transpire and agree it will be a rocky ride...gla..

[maxp4] 15/12/2013 11:12

Should the worse happpen and there is no bid, dont forget that EXI is profitable produces almost 20k barrels per day, has 2p of 520mil, little or no debt and just last week applied for a new license that could contain another 30mil bbls.
Yep it would fall back to the £1s but someone will see value.

[the stinger] 15/12/2013 11:04

nufcfan - BOD days are numbered either way now anyway. If no TO happens then they'll have a much smaller say of all future op's, decisions etc and they'll obviously have no say on a full TO.

Got to hope they've not been taken for a ride..and if so got to hope they've seen it coming and have a plan B.

[nufcfan] 15/12/2013 10:32

Huge banks/brokerages getting fined all over the place for price manipulation on metals/libor etc etc.....the market IMO is becoming more and more corrupt...now we're dealing with Russians...its not for the faint hearted that's for sure...in this situ i wonder how much the bod really know....if no t/o then the share price will fall heavily and the bod will be left in an awkward place....the next move IMO is the important one.....gla..

[the stinger] 15/12/2013 10:30

What wouldn't surprise me is another short attack tomorrow, its going to be a bumpy ride whatever..

Back to £1.80 - £2 would not shock me. Then again up to £3 wouldn't shock me either. BOD need to get a hold of this situation soon and seek clarity one way or the other,, otherwise the market will punish them.

[buffythebuffoon] 15/12/2013 10:27

Pro_S2009 15 Dec'13 - 10:15 - 4565 of 4565 0 0

buffy - how many scandals are there with AIM companies ? How many scandals of insider trading in the City of London ?

It is a very corrupt place.

If you read my post again Pro, you will see that we agree there is corruption. However if you really believe that there is more corruption in the LSE than 'in Russia' then you are very naive indeed.

Buffy

[pro_s2009] 15/12/2013 10:15

buffy - how many scandals are there with AIM companies ? How many scandals of insider trading in the City of London ?

It is a very corrupt place.


Back to EXI, there will always be a risk, as with any takeover be it in the UK, US, Russia or Mongolia - that it will not proceed. That is a known.

If a takeover does happen will their be any apologies from the people behind the notes saying sell ? No, they will just say it was a warning and you should have DYOR.

If a takeover now does not happen, they will all be blowing their trumpets with "as we told you" comments.

This is life, sadly.

[nufcfan] 15/12/2013 10:08

It will be v interesting watching this play out.....at 232p the share price is way too low for the increasing fundamentals of the company....are our two Russian friends holding for someone else ?....there's no doubt in my mind the share price fall was orchestrated last week as I've seen it so many times before....wish I had been quick enough on the button for a 197p re-entry....we're back to the trend line now as far as I can see....obviously we need to be careful here but huge money has been placed at a much higher level which must set some sort of target...gla..

[buffythebuffoon] 15/12/2013 09:39

The City of London is MORE corrupt than Russia.

Hmmm... rather a silly thing to say; although I'm sure not many here are naive enough to believe that there isn't some degree of manipulation in the market. However, the motive will always be profit. If the company is going to be taken out at over £3 then there's a fair bit to be had by buying EXI at the current share price

If this was an organised shorters' attack, they will presumably go for another hit soon, or else change direction and buy. If it stays here, then it doesn't make sense unless a lowball bid is coming next Christmas.

I'm leaving it alone for now.

Buffy