First Calgary Petroleums Share Discussion Threads

[madasafish] 03/4/2008 11:29

>CFC
Well as I understand it, no matter who wins the current battle for control they need to raise $750M to complete works for production.
A rights issue will decimate the share price (see IEC yesterday) and dilute shareholders to hell and back, they have no production to sell in advance and the capital markets are - shall we say - unstable.

I suspect until financing is assured it will drift. If and when financing is sorted it could soar...

And I am sure financing talks are really what the winner will be in as soon as possible after the battle finishes. Again.

They have enough cash to last until December (imo) so it must be sorted soon.

[captainfatcat] 03/4/2008 07:21

How things change I remember looking in at this bb not that long ago when share price was £10 and FPL had a billion pound market cap there where a dozens of posts a day.

The share price looks to have resumed its down trend once again. I might pick up a few Mad if it gos below a £1.

[baracus61] 02/4/2008 10:11

No it's not.

[madasafish] 01/4/2008 20:28

FPL on its way sub 100p.

[jtcod] 01/4/2008 18:46

Sorry Mad if I misunderstood you.

[madasafish] 30/3/2008 20:50

>JTC
You're putting words in my mouth:-)

[jtcod] 27/3/2008 18:44

Cheers guys. Reason I asked was that both Mad and HB have forecast a jump to 350p for EEN next week. I'm looking for a reason that would happen.;-)

[captainfatcat] 27/3/2008 18:17

Not far away now JTC, as a spectator its quiet interesting following the shinnanagins. Theres always lessons to be learned for future situations.

[chestnuts] 27/3/2008 10:37

Morning all
JT
8 th of April

[jtcod] 27/3/2008 08:15

CFC
When is the First Calgary vote due to be resolved?

[captainfatcat] 26/3/2008 20:29

bob I agree, just look at the caliber of Waterfords nominiees to the board in comparisom. RA seems to be digging himself into a hole imo.

Sun Tzu might say this battle was won before it was ever fought

[bobobob5] 26/3/2008 11:40

captain: in my personal opinion, the credibility of the CEO has now been so badly damaged by shareholder anger, and the departure of several key players from his board, that he'll have to go. But I emphasise that this is purely a personal opinion. bob

[captainfatcat] 25/3/2008 15:27

This is getting interesting

[captainfatcat] 24/3/2008 14:17

I remember reading on stockhouse that FPL (FCP) is one of the most shorted stocks on the TXE exchange.

Perhaps some one is working to a master plan I'm going to stay out until this current situation plays out and there is a much clearer picture of what is going on.

PS the DOW looks to be making a break north

[chestnuts] 24/3/2008 13:41

Captain
So it looks like AB and co ie the 3 muskateers are pawns of Waterford, and have been a big contribute to FPL so why is the share price so low i can't believe its just the fault of the CEO Andersons, some thing else is cooking, i bet some body is shorting this just like what happened to EEN down to 33p.

[captainfatcat] 24/3/2008 13:35

chestnuts the news is not new it was reported they resigned last Wednesday I belive, so it would seem the market has perhaps started to price the news in already. Still its not a very good sign the three have a vast amount of knowledge between them. Looks like a game of chess and we all know the Russian take there chess very seriously. Also it shows waterford still calls the shots at EEN.

[chestnuts] 23/3/2008 22:53

Hi Captain
So what do you think is going to happen now with waterfords directors resigning

[captainfatcat] 23/3/2008 21:31

First Calgary Petroleums Ltd. Announces the Resignations of Three Board Members
TSX: FCP AIM: FPL

CALGARY, March 23 /CNW/ - First Calgary Petroleums Ltd. ("First Calgary")
has received the resignations of current Board members Mr. Alastair Beardsall,
Mr. Yuri Shafranik and Mr. Keith Henry with immediate effect. The Board of
Directors of First Calgary is now comprised of Messrs. Richard Anderson, Gar
Emerson, Shane O'Leary, Darryl Raymaker and John van der Welle.
An Annual and Special General Meeting of Shareholders has been called for
April 8, 2008 and a new slate of directors will be elected by the shareholders
of First Calgary Petroleums Ltd. at that meeting. Mr. Beardsall, Mr. Shafranik
and Mr. Henry are not part of the new Board slate that has been nominated for
election by First Calgary Petroleums Ltd. First Calgary has nominated the
Honourable Roy MacLaren, Stuart McDowall, David Savage and Kenneth Taylor to
join Messrs. Anderson, Emerson, O'Leary, Raymaker and van der Welle to the
Board for this upcoming meeting, as announced on March 10, 2008.

For more information on First Calgary Petroleums Ltd., please visit:
www.fcpl.ca

First Calgary Petroleums Ltd. is an oil and gas company actively engaged
in international exploration and development activities in Algeria. The
Company's common shares trade on the Toronto Stock Exchange in Canada (FCP)
and on the AIM market of the London Stock Exchange in the UK (FPL).




For further information: contact First Calgary Petroleums Ltd.: Jeffrey
P. Angel, Vice President Corporate Communications and Investor Relations, Tel:
[phone]; Other Contacts: James Henderson, Pelham Public Relations, Tel:
[phone]; Carina Corbett, 4C - Burvale Limited, Tel: +44 (0) 20
7559 6710; Mandy Dinning, Hill & Knowlton Canada, Tel: [phone];
Nominated Advisers: Richard Swindells, David Nabarro, Nabarro Wells & Co.
Limited, Tel: [phone]

[aerotus] 23/3/2008 10:18

Very interesting indeed! So, who wants RA out?

[chestnuts] 21/3/2008 22:15

capt
I agree, why should it go their, what will cause this, but who would have thought it would drop to $2, but if you look a bit deeper ok they say they have these reserves and yes they have had an independent specialist confirm this,
They have no debt
They say they won,t devalue the share holding
they have $250m ish in the bank
They need $1billion to do the pipework and build the fascilities
So they need $750m.
Also their is 30 months of wait, with out 1 drop of production i think this will not help the share price people can put their money else where for a better return for the time being.
Also this fall out with major share holders and the board, this is not good, i don't know why or what the reason is for this but, even if they do get rid of the board will the new board get production any quicker,?

All this i believe could push the share price down, i do have some dates i have worked out that the share price could fall.

[captainfatcat] 21/3/2008 21:45

chestnuts yes indeed time will tale, 33p would be very nice indeed, I think it would need some kind of cataclysmic event to reach such a prediction which could happen! This would value the company at less than 100m? which does not seem rational when taking into account the 208 MMBoe of gross proved reserves and 586 gross MMBoe of proved+probable reserves. Can your chart (EW?) perhaps be tweaked to allow for some intrinsic value base line? I think a predator might snap the companies assets up before it got to such levels. We are talking values of cents per barrel not dollars for P2 and with current oil prices still very high.

[chestnuts] 21/3/2008 20:20

Cpatain thanks for your reply, i know their is no production till Octo 2010, but i would have thoughts the contracts for production sharing would have been sorted out by now,
Below is a chart showing that some times the chart knows better same distance in time before the top, as it is from expected production is announced.

You might not like my bottom price prediction is going to be but i reckon 33pish or 69c.
Its a long time till Octo 2010 or later as my chart shows more like Jan 2011,
Only time will tell