Falcon Oil & Gas Share Discussion Threads

[gerry2] 12/9/2003 19:50

Good Evening everyone .
As a recent holder of Sterling Energy I am surprised as you possibly about today's News ?
I Congratulate you on today's Fusion share Hike .
But One thing has me baffled .
How can a fledgling Company like Sterling possibly entertain taking over Fusion Oil .
I realise Sterling need partners as described in the recent SEY NRSs.
But Sterlings share price is only 13 p and the spread is terrifying .
But the Fusion Fundamentals looks Very Strong compared with SEY .
But Still ? Where will the Money come from !

Unless SEY are hoping ALL you lot sell up and buy SEY .
Now theirs a Thought ? its almost a 3 to 1 exchange rate.

Has this Situation ever happened before ? It looks bizarre to Me .
Good Luck
Gerry

[rayrac] 12/9/2003 16:46

It's most probably 'in play' now, so whatever happens short term, it is worth holding over the next month or so imo.

[hsleyhal] 12/9/2003 16:14

Any care to hazard a guess on the bid/ask on Monday ?

[rayrac] 12/9/2003 15:08

I doubled today. Like you Mike, the threat of a bid has only just begun to move FOG I'm sure.

[kpwuk] 12/9/2003 14:24

Fusion Oil & Gas PLC
12 September 2003


Fusion Oil & Gas plc
('Fusion' or 'the Company' or 'the Group')

Statement re: Sterling Energy plc ('Sterling')

The Board of Fusion notes today's statement by Sterling. Fusion confirms that
it received an unsolicited all-share approach from Sterling which the Fusion
Board rejected on the grounds it significantly undervalued the Company. No
formal offer has been received to date.

[lgw] 12/9/2003 14:00

Has anybody got details of any broker or other independant research on FOG?

[simonjones123] 12/9/2003 13:35

A site worth checking:-

Money For Emails

Its american but it pays uk users. I've had 2 cheque's from them in the last 2 months totalling $70 not bad for just opening my mails. You open junk mail everyday and get nothing. Get something back for a change!

Its not a con, try it.

Simon

[p@] 12/9/2003 13:24

I think that the last issue of shares to institutions was at 45p therefore any successful bid must be over that.

[djalan] 12/9/2003 11:51

Of course if SEY buy into the market they can get us that way
They can own up to 29.9% without making a bid

Wonder how many FOG shares they own now?

[justjus] 12/9/2003 11:47

so first offer rejected, of course!

[rayrac] 12/9/2003 11:44

Looking extremely good!

This (West Africa) is a place where the world's oil industry wants to play the game," Stein said. "With a portfolio like ours we get approaches all the time, but it's not the right day or the right price."

Stein declined to name a price at which he would consider offers, but said this was "nowhere near" current levels.

[justjus] 12/9/2003 11:40

is that offers in the plural???

[martin jones] 12/9/2003 11:38

djalen, like it very much, the key message is the price is too low. This could get very interesting.

[martin jones] 12/9/2003 10:50

Primrose, surely WTE are ahead of the game already up 28% against FOG at 23%. Seem to be going hand in hand as you suggest, but room for FOG to catch up.

[justjus] 12/9/2003 10:49

150k buy, there's confidence...

[djalan] 12/9/2003 10:35

The Fusion board will soon be meeting to discuss this approach
I'm sure they will denounce it as rubbish!

[rrb] 12/9/2003 10:32

Shares or cash, the price will go to whatever Sterling value FOG at and from what I can see it should be at least 15-20% higher than current price.

r

[rayrac] 12/9/2003 10:16

Well Justjus, Let's hope someone picks up on it at Premier (old holding of mine). But anyone rather than a weakling!

[justjus] 12/9/2003 10:08

Rayrac - we could have looked to Premier, but they've just completed a restructuring today, so have had their minds on other things...

[primrose] 12/9/2003 10:06

Fusion Oil & Gas PLC
Major Shareholders


98.21m 1p Ords

Westmount Resources Ltd 20.37%(dup A)

(Ticker WTE Associated company-rising sharply 12.9m shares in issue NMS 500)

AMVESCAP PLC 11.46%
FIL 10.17%(dup B)
HBOS PLC 7.62%
Zurich Financial Services 3.45%
Royal Bank of Canada Trust Co 3.00%
D G Williams 20.37%(dup A)
Dr P Dolan 10.20%(dup B)
A M Stein 10.17%(dup B)
R Stabbins 2.30%
J M Taylor 1.53%
Other Dirs 0.68%

Given the timely release the premium must be very high.50p seeming a bit low
given FOGS turnaround from loss to profits and numerous assets,which clearly
Sterling want.I think it may or may not lead to offer,as Sterling may not wish
to pay more than 60p..all interesting at present though-weekend press to follow,
unless cash/shares offer gets tabled by close-LOL

Phil:)

[rayrac] 12/9/2003 10:02

So it's shares then. :(

[primrose] 12/9/2003 09:58

this is going very well now,took a while to take off though
Have just doubled up in FOG But IN WTE,intra-owned.Always rises about
3-5 minutes behind FOG movements.If FOG is going to 41p to 45p then
WTE should continue towards 61p-66p but cant remember the exact ratios.

WTE is currently at least 4p behind,have to be very quick for under 56p though.

Noting above posts,50p takeover by Stirling would be very nice.Curry always has
the numbers on these.About time FOG pulled it's weight-LOL

Phil:)

[justjus] 12/9/2003 09:58

Sterling certainly haven't got the cash...