Falcon Oil & Gas Share Discussion Threads

[rayrac] 04/12/2003 14:22

95.31% have elected to receive wholly Sterling shares. That's because the cash offer forced them into SEY shares! The whole thing stinks and it would be great for Fusion and we shareholders if we get one over the Americans and Irish. Who of course have a dreadful record in their dealings on our exchange.

Westmounts chairman is a former Englishman, now yank! Amerada is of course American and put the screws on FOG by jumping out of their licences.

Devious old world out there, at least 50% of posters to these threads are company/vested lackies of some sort, maybe more.

[flyingbull] 04/12/2003 14:09

Great move......love it!

[djalan] 04/12/2003 14:01

I don't want shares in any irish Co
especially SEY

I hold FOG

[gerry2] 04/12/2003 13:29

There is a minority of Die hards 4.69% to be exact .



As you say, fantastic stuff!!

from that link :-
"Of those Fusion Shareholders accepting the offer to date, 95.31% have elected to receive wholly Sterling shares "

I wonder Who they are?
LOL

[rayrac] 04/12/2003 12:42

Sorry Kim-Clay, cross purposes and you are right. Mr Stein is of course the managing director of Fusion and I thought he said it was 900,000 partly paids!

As you say, fantastic stuff!!

[rayrac] 04/12/2003 12:37

No! It was a mistake apparently, the shares in question were partly paid and Mr Stein has been fighting to get them fully paid (remortgaged the house, so he told me!). Cleared today!

Was very helpful.

[kim_clay] 04/12/2003 12:35

I think Mr Stein might just be on FOG's side!!.

As far as I understand it these are new shares, as he is taking up his right to pay up his partly paid Fusion NL shares and convert them to fully paid FOG shares. This means that the number of shares in issue has now gone up by 1mm. this means an additional 500,001 that SEY have to acquire!.....by 1:00 pm today.
Fantastic stuff.

[rayrac] 04/12/2003 12:28

Just been on the phone to Mr Stein, out at the moment but will be getting back to me soon.

Could he have acquired a nice controlling interest in the shares of FOG?

[rayrac] 04/12/2003 12:21

Who is the buyer? Or rather who's side is he on? BTW I was just about to print that info. :)

[kim_clay] 04/12/2003 12:18

Is this another 1,000,000 new FOG shares added?
Someone should write a book about this one.



2) Amount bought Amount sold Price per unit

1,000,000 N/A Australian $0.199
(#0.08 pence)

3) Resultant total of the same class owned or controlled
(and percentage of class) 10,889,275 (10.6%)


4) Party making disclosure Fusion Oil & Gas plc (offeree)


5) EITHER (a) Name of purchaser/vendor (Note 1) Alan McKellar Stein
OR (b) if dealing for discretionary client(s), name of fund
management organisation

[rbonnier] 04/12/2003 11:40

djalan any shares with voteing rights who have accepted will have to have send in share certs.Anyone who has accepted can not currently sell.Sellers today are holders who have not accepted which will decrease the eligible voteing shares in issue and increase says %.

[djalan] 04/12/2003 11:28

LONDON (AFX) - Sterling Energy PLC said it either owns or has received valid
acceptances for a total of 49,830,746 shares, or a 49.14 pct stake in Fusion Oil
& Gas PLC as of yesterday.
This is short of 872,367 Fusion shares required to meet the minimum
acceptance condition, the company said in a statement.
newsdesk

I wonder if the shares sold recently are shares that have been promised to SEY, diluting SEYs potential holding?

[rayrac] 04/12/2003 11:08

Edgein, thanks for your information. I would just like to say that I bought into FOG for their long term promise and short term revenues mean absolutely nothing for me.

However, I do keep wondering why Westmount Energy sold out to the offer, perhaps they can see more in the offer, or perhaps they didn't like the management at FOG?!

Anyway, we have just a short time before we know our fate!

[edgein] 04/12/2003 10:30

Rayrac,

U don't have to hold you know. Is SEY are successful then you can sell your shares in the market, probably about 12/13p share or about 42p/45p per Fusion share, not bad if you look at the current share price. I would also suggest that you have a closer look at SEY and their revenues from the shallow wells in the gulf of Mexico and then take a look at the fundamentals of Fusion, operational profit/loss. FOG won't receive any revenues from their recent finds within the next 12 months. I don't hold either at present but might buy into SEY if they get FOG, but currently won't touch either until the deal is done.

Regards,
Ed.

[rbonnier] 04/12/2003 10:23

They havnt got it yet Rayrac its right down to the wire.I dont think they will get any further acceptances in the post today its down to the sells on the open market,lets keep our fingers crossed and see how this afternoon goes.

[rayrac] 04/12/2003 10:19

I forgot to add, I pity me if Sterling win :(

Looks to be all up doesn't it! What a stupid world we live in, the small investor gets shafted all the time!

[rbonnier] 04/12/2003 10:10

Oh Gawd theyve now got 250k!

[rayrac] 04/12/2003 09:46

Well, they've got to move fast (SEY), they have 10,000 in the bag this morning so far! I hope they fail, it's so obvious to me they are on the make at Fusion's expence.

I pity the poor Sterling investors if they do fail, what will they have to make life worth while? Shallow wells in the Gulf Of Mexico and not much else, certainly not the place for investors money!

[kim_clay] 03/12/2003 22:12

or perhaps Stale Mate?

[gerry2] 03/12/2003 20:02

More like - Fools Mate .

[kim_clay] 03/12/2003 10:44

More fun and games.....Mates, don't you just love 'em.

Late yesterday: Rule 8 disclosure

Amount bought Amount sold Price per unit
250,000 35P
3) Resultant total of the same class owned or controlled
(and percentage of class) 2,250,000 (2.291%)

4) Party making disclosure BREWIN DOLPHIN SECURITIES LTD

5) EITHER (a) Name of purchaser/vendor (Note 1) J D SAVILLE ESQ
OR (b) if dealing for discretionary client(s), name of fund
management organisation

6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO


Looks like Mr Saville is increasing his holding, but is "not an associate" of Sterling: Is this the same Mr Saville that is a large shareholder in Westmount? if indeed it is the same person,and not DJ Jimmy, (see my previous post), I guess he now owns 1.4% of SEY indirectly and must be a 'mate' of Derek Williams as a large shareholder.

"LONDON (AFX) - Westmount Energy Ltd said John Saville holds 960,000 shares
in the company, or 7.01 pct."

Might soon be Check'Mate'

[djalan] 02/12/2003 15:22

.................The agreement is subject to the normal approval of the................ authorities and will terminate in the event
of a change of control in Fusion............

[mr blibby 1] 02/12/2003 14:47

LOOK AT "SPD" - Look at the charts, look at the trades, and the news. market cap under £1m - screaming buy.