First Calgary Petroleums Share Discussion Threads

[jonno1] 31/5/2008 08:17

I don't think it would be Talisman, they are involved in the massive find in Quebac, I think they have raised capital to buy some of the players out there, makes much more sense than buying a politically hot potato like this, plus you're talking about a 90TCF play on their own doorstep...my guess is Russians...!

[tingtang] 30/5/2008 16:53

Thanks for info - well fpl been a sitting duck for a take out long tlme at these share price levels. I was hoping we may see something like fair value if we could make the next 12 months as production would finally look real and within sight!
Any take over now is going to give me a bath! (and a lot of institutions too!)

Would be surprised if it were Talisman tho' as the y have recently stated they would be concentrating on se asia, and maybe making a play for Soco's VN assets. talisman would probably prefer to wait a while before capitulating to an offer.

Who knows tho', anything could happen in these times and the chinese are prepared to offer a lot more than western companies if they wish to buy assets, maybe the Chinese would be interested in algerian gas.too.

tt.

[mattybuoy] 30/5/2008 16:30

There is a takeover rumour on Stockhouse, with Talisman Energy the supposed bidder.

Note: Talisman is also supposedly a target for takeover by the Chinese.

[sali2] 29/5/2008 11:36

closed £1.28 in Canada

[mattybuoy] 19/5/2008 17:56

FYI it looks like the company has been tipped by Taipan Financial:



These guys can bring a lot of money into a stock, albeit mostly only temporarily.

Not a holder, just passing this on :)

[sali2] 18/5/2008 10:54

closed in canada £ 1.42p or 2.75 $ trades over £1m

[simonbroughton] 15/5/2008 21:08

On very small volume. MMs playing a fast one?

[sat69] 15/5/2008 18:02

Good gain today.

[chopsy] 14/5/2008 21:44

Interesting, I was hoping for CN$2 but it never came. Let's see if this is a sustainable rise.

[martincoops] 14/5/2008 20:58

Nice rise across the water tonight let see it continue over this side tomorrow. Its about time this got back over $3

[martincoops] 22/4/2008 15:08

Well back in at 127 having sold at 160 should make another nice profit now.....I hope

[mustau] 21/4/2008 19:07

Hope not chopsy but looking very likely.
I can't see the drift down since last weeks news just down to proft taking.

[chopsy] 21/4/2008 18:53

I wouldn't touch it above CN$2, it has to breach at some point. Point is, would I want it if it was going lower?

[mustau] 21/4/2008 18:09

Looks very likely a further placing or rights, can't see a serious buyer emerging in the present climate, hopefully I'm proven wrong.

[captainfatcat] 18/4/2008 17:55

bob yes indeed, I think I know which bit you mean, if I am correct the exact opposite of the authors particular view might be closer to the truth.

[bobobob5] 18/4/2008 00:21

captain: there's something in that article that I have some doubts about, but I'm not going into it here. bob

[captainfatcat] 17/4/2008 18:38

Oilman falls prey to Russian trap
Algerian letter adds to curiosity
Deborah Yedlin, Calgary Herald
Published: Tuesday, April 15, 2008
The shareholders of First Calgary Petroleums Ltd. should be breathing a sigh of relief today. After wandering in the desert for the better part of five years, the company with oil and natural gas assets in Algeria officially severed its ties with founder and chief executive Richard Anderson over the weekend.

Anderson, it seems, had fallen victim to the classic entrepreneurial trap of not knowing when it was time for him to step aside and allow for someone else to guide the company. Adding a measure of curiosity was the timing of a letter apparently signed by the Algerian energy minister, Chakib Khelil, supporting Anderson. Why someone of that stature in the Algerian government would bother interfering in the corporate minutiae of a small Canadian energy company with assets in the country raised more questions than it answered. Instead, it took a U.K.-based investor with ties to Russia to act as catalyst for a change in leadership.

There's no question Anderson was successful with First Calgary at the outset in terms of securing the assets and establishing a toehold in Algeria. Where things went awry for him had to do with timing. All natural gas paths out of Algeria lead through Sonatrach; it holds the cards for development, timing, transportation and export capacity for natural gas.


Some would make the observation that Anderson didn't quite play by the established ground rules, pushed too hard for his company's assets to be moved up the list for development and export and the strategy backfired.

Anderson had made a case for himself staying on, saying he was the one with the relationships with the Algerian government and Sonatrach and that any change in management would delay development of the company's $1.3-billion project.

Two more observations must be made as a result of recent events.

The first is the intentions of Waterford Finance & Investment Ltd.

It is no secret that Russia has been using its natural resource wealth -- through OAO Gazprom and Rozneft -- as instruments of foreign policy.

Since going public in 2006 and gaining access to capital, Gazprom has been actively expanding its asset base. Last year, it bought downstream operations in Germany and has been busy signing agreements to gain access to assets in Venezuela, Iran and Algeria.

Russia is also very interested in tying up the supply of natural gas to Europe, to which it is a major supplier. The European Union has been fretting about its growing dependence on Russian natural gas, but its flagship energy companies, such as Total, Repsol, ENI or Gaz de France, have yet to make some major moves to offset the current situation. It's much more attractive today to get natural gas flowing into Europe than it was two or three years ago because prices have gone up; Algeria has the potential to be the largest LNG player in the world and the question is how will it get there and who will help them.

It also needs to be noted that one of the principals of Waterford, Yuri Shafranik, was Russia's energy minister under Boris Yeltsin. This means two things: good connections to Gazprom -- or any other of Russia's energy companies -- and a high probability that Russia's movers and shakers probably have money placed with the private investment firm.

The second observation that needs to be made concerns Emerson's role as the chairman of the board.

Emerson is arguably the pater familias of Canada's legal dealmakers. Formerly of Davies, Ward & Beck -- which was one of this country's pre-eminent legal firms in the world of mergers and acquisitions -- Emerson went on to head up N.M. Rothschild & Sons Canada, the Canadian subsidiary of the storied European merchant banking firm. His focus today, through his firm Emerson Advisory, is corporate governance.

At this juncture in his career, Emerson would not involve himself in a company or board of directors where he did not feel he could carry out his duties in the best interests of shareholders. Moreover, because of his long career advising companies on corporate transactions, if there is a sale process in the cards for First Calgary, it's a safe bet it will be handled in a much more effective manner than the last attempt in 2005.

Pull it all together and it's not out of the question that between the influence and connections of Waterford, the established desire of Russia to expand its political reach in the world using natural resources as an instrument of foreign policy and the deal-making know-how of First Calgary's new chairman, it's entirely likely the company will soon be on the auction block. And unless the European players wake up, the betting is that First Calgary will end up as part of Gazprom's portfolio. It's simply a question of when.

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[bobobob5] 16/4/2008 15:14

Keith Henry has been appointed to Regal as non-executive chairman; that's in addition to his existing directorships. See the RPT RNS issued today.

[jtcod] 16/4/2008 12:15

Cheers bob

[bobobob5] 16/4/2008 11:19

JT: goto Google, enter 'calgary norval scott april 15' bob

[jtcod] 16/4/2008 10:26

mx
Do you have a date and link for the article you posted yesterday?

[mister x] 15/4/2008 21:34

well im out. A nice 20% gain in 2 days. Failing to hold the highs in Canada, not the best sign.

[omellete] 15/4/2008 15:32

I remember the UBS target of $10 when this was at $6 - $7 recently.

It lost $5 a share instead!

I think Bobobob5 does a better job than these overpaid analysts.