First Calgary Petroleums Share Discussion Threads

[jtcod] 15/4/2008 14:43

Mx
Have you a date and link for that article?

tia

[mister x] 15/4/2008 14:39

...First_Calgary_is"workingdiligently"with Sonatrach, Algeria's_state-owned_oil_company, to_getthisdevelopment on stream as quickly_as possible_and"we_are_receivingexcellent co-operation from Sonatrach_to achieve_this."

As_for_financing_the project,David Savage, chief financial_officer, told_the_conference_callthat inlate 2007 the MLE debt_capacity was_calculated_to be in the_neighbourhood of $700 million to $750 million.With the_continuing rise in_the price of oil, however, he said the debt capacity_of MLE has increased in recent months. "We_will_be up dating the debt capacity analysis on the basisof_revised_reserveand_production_profiles" in the months ahead. "We are going to hedge a_significant_amount of our production ... andthereby_increasedebt_capacity_further," said Savage."It is our current estimation that the combination of the proceeds ofthe convertible debt issue and the project financing facility which will be in anamount of between $1billion to $1.2 billion and cashflow available from MLE post completion will provide sufficient funds to complete the development ofBlock405b."Despite the credit crisis now facing_financial_markets_and_institutions, said Savage,"project financing_with_specific_reference to oil and gas infrastructure and other resources remains relatively healthy."

[jtcod] 15/4/2008 14:19

Nobody ever wants to issue new shares Martin. Shareholders in IEC were lead to believe exactly the same as FPL until recently. Times have changed.

[martincoops] 15/4/2008 14:08

Well the lending is to be completed within the next few months so you wont have long to wait and I very much doubt that the new management want to issue new shares as the reason for kicking out the old CEO was all the shares he did issue. You will have your answer soon though

[jtcod] 15/4/2008 14:04

I would add that I think reserves backed lending is normally granted nearer the point of production. It may not even be an option at this stage. Not on such a grand scale at least.

[jtcod] 15/4/2008 14:02

Martin
Call me an old cynic but I'll believe it when the new management says it.;-)

That's an awful lot of finance to raise in a credit squeeze even with pretty good reserves. They could raise a fair bit on reserves backed lending, provided the goverment are happy with that but I suspect they will need more than will be available via this route. Hope I am wrong. I am still watching from the sidelines until I know how it is going to be raised and possibly until I see the deal signed.

[martincoops] 15/4/2008 13:49

JTCod

The investment will be a loan of sorts but WILL NOT be in shares. If you read through the old RNS's you will see this mentioned quite a few times.

[jtcod] 15/4/2008 13:16

Mister
Do UBS say anything about where they are going to get the investment sufficient to go into production? I am wondering if they have allowed for any dilution as the investment required is something like 100-150% of the current market cap?

[topinfo] 15/4/2008 12:55

QUIET ON HERE JUST HOW I LIKE IT WITH NO RAMPERS AND THE share price IS DOING THE TALKING ONCE AGAIN. PRICE TARGET £3.50, BID AT £2.75, LOADS OF POTENTIAL PROFIT TO BE HAD HERE.

[topinfo] 15/4/2008 07:47

£3.50 A SHARE EH, WELL THATS NICE...ONLY ANOTHER 175% PROFIT.!!!

[mister x] 15/4/2008 05:01

UBS Investment Research analyst Memet Kont viewed Monday'sdevelopmentas a positive for First Calgary, rating the company a "buy"and settinga share price target of $7.

[mister x] 15/4/2008 04:28

id expect another +10% on the open on the back of the late surge in Canada before close.

[omellete] 14/4/2008 16:16

I don't think they will sell for 275 pence. Not only because of assets - but it is hard to quantify the terms in Algeria currently.

i.e. gas prices, windfall tax laws etc... and what is historic expenditure?

Will it get recovered by a sale at 275 pence?

[topinfo] 14/4/2008 16:14

Mister. Dont know mate just a rumour that in talks over sale of co for 275p a share...still that seems cheap. Lets wait and see if we get any comment from FPL.

[mister x] 14/4/2008 15:53

top, where did you hear that?and a bid from who? the russians?

[topinfo] 14/4/2008 15:40

£1.39p

[dorset64] 14/4/2008 15:25

Top, what price did you get any at?

Dorset

[topinfo] 14/4/2008 14:56

Me neither, having to call my Broker. I hear a bid pitched at £2.75p is on its way. DYOR of course but looks undervalued even without a bid.

[dorset64] 14/4/2008 14:35

Trying to buy on-line, nothing at the mo.

[davros006] 14/4/2008 14:31

Attention Business/Assignment Editors

Media Advisory - First Calgary Petroleums to hold press conference
CALGARY, April 14 /CNW/ - First Calgary Petroleums Ltd. will hold a press
conference today.



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).






-30-
/For further information: First Calgary Petroleums Ltd.: Jeffrey P.
Angel, Vice President Corporate Communications and Investor Relations, Tel:
[phone] or Mandy Dinning, Hill & Knowlton, Tel: [phone]

[omellete] 14/4/2008 14:22

If Bobobob says the fair price is 4 quid - then a buy at 120 pence is a steal - IMHO.


bobobob5 - 9 Apr'08 - 15:39 - 814 of 863

Shujja: the word on the street (well, the street on which I hang out, at least) is that this one is undervalued, and that it *could* go to £4. But it's all down to funding the huge development programme. bob

imho DYOR etc

[mister x] 14/4/2008 14:00

not sure whether this is good news or bad? the price surged mid March in expectation of this happening and has since come back significantly. Interesting day ahead.

[davros006] 14/4/2008 11:45

Cheers for your input Om. appreciated.