Fortune Oil Share Discussion Threads

[allend47] 04/2/2015 13:37

Help
I wish to vote no, but Barclays are saying I cannot do that

[tel5] 04/2/2015 10:19

e mailed this morning Alan

[alanadale] 03/2/2015 21:28

Thanks Del. Our numbers are rising. Where are you Tel5? All is forgiven but we need you to enrol at [e-mail].

[del44] 03/2/2015 21:15

Good letter alandale.....

[tel5] 03/2/2015 10:59

hindsight is a wonderful thing we all should have sold into Afren and held not sold

[younasm] 02/2/2015 12:24

Del - yes, that was a pure gamble on Afren. I knew that it will either get suspended or double in price by Monday (today). It's up more than 100% now, but I didn't want to be greedy - it was bad enough taking a huge risk in the first place.

[flyingbull] 02/2/2015 12:12

Bargain hunting time yet!!?? The February challenge (oil stock competitions for February) is still on, deadline for entries is midnight tonight, Monday 2 February.

Good luck!

p.s. The results for the January competition can be found here

[del44] 02/2/2015 12:04

Good man well done!!!

[younasm] 02/2/2015 11:51

I sold the lot on Friday as I was advised to take punt at Afren. Managed to make another 50% within 2-days. All cash now.

[del44] 02/2/2015 11:18

Up on LSE now....

[alanadale] 02/2/2015 10:40

Fortune Oil PLC - shareholders

Since Fortune Dynasty announced its offer on December 18 and particularly since the publication of the Scheme Document on January 16 I have spent some time exploring the legal implications of the bid with a former City practitioner with considerable experience of trade and corporate finance and facility lending. Should you have any questions regarding the offer and how to proceed please feel free to contact me on a specially designated email account [e-mail] that has been set up to enable us to communicate in confidence.

I am advised that the implications of the vote on February 13 require careful advance consideration and suffice to say the issues need to be explored further.

At this stage, I would only ask you to confirm your identity and state the shareholding you have in the company and I will reciprocate. I aim to circulate a summary of issues and potential legal options to interested parties shortly.

[exel] 30/1/2015 16:16

thanks BAM - or 'may not'. impossible to tell = uncertainty. ex

[bam bam rubble] 30/1/2015 15:46

Voting no may result in a higher bid so upside risk rather than downside risk imho.

[exel] 30/1/2015 15:38

From everything I have gleaned, it is just far too risky for material shareholders to vote this down, now. I see the options as 1/sell in the market, now, or 2/support the proposal come 13/2/15 (deadline for proxies 11/2/15). I have now supported the proposals by proxy (with all bar one share held) and will be there on the day to vote that one share in favour, too. Thanks again to all contributors on here. Moving on! ex

[del44] 30/1/2015 14:53

I posted this over on LSE..well edited it.... If FTD decline to take FTO private, then it is possible the share price may fall away as investors who bought in for the 10p cash sell out. Or it may not...... Consortium hold 1,472,383,697 shares.... There are 1,114,616,303 scheme shares, of which they need 75% acceptance...= 835,962,227 if all voted(which they wont) Failing that, they just need 75% of any shares in the scheme voting...so if only 1000 shares were cast then they would just need 750 shares!!!

In effect, there has been very little shares moving around on the market since December the 18th.I feel with the plethora of rns releases a while back that they may well have a good portion of "YES" votes.....I have summarized that both FIL holders will vote in favour, as both seem to have been net sellers after July..

[gwatson56] 30/1/2015 14:22

Good spot Del44, received confirmation of my 'Rejection' vote for my holding so I am as sure as I can be that it will be cast. I would be very surprised if CGH did not enter the mix given the constant delay of the BEH transaction and FTO do own lots of CGH shares that they seem to want back looking at your link. I am not able to attend the meeting but hope for the proposition to be voted down. I do though think it will be close. One good point is that any holder who wishes to exit should get close to the offer looking at the way the share price is going up to the vote. Not long now before we are all the wiser.

[del44] 30/1/2015 12:43

This was posted on II......."Spreadex are quoting a price of 9.66 - 10.29, could this be a good sign?" By PMP1.

I have noticed that the bid has been inching up, little by little.....but I doubt if anyone is going to take the offer above 10p UNLESS they are speculating that the cvr WILL be paid out at some time in the next year.
That's a gamble at the moment, nobody is taking!!!

[del44] 29/1/2015 21:09

CGH have also been buying back there own shares at these low levels......

[del44] 29/1/2015 21:08

Cash divi paid tomorrow to CGH's shareholders....sp should probably start moving up again....

[alanadale] 26/1/2015 19:19

pieball. There's a message waiting for you on the private message board.

[pieball] 26/1/2015 17:57

Spot on Via ... trust is gone. I sold a chunk last week to mitigate risk...still in heavy but no longer massively overweight and feeling slightly more relaxed.

[mutantpoodle] 26/1/2015 17:16

fao Via con
the Rolling Stones are in fact remarkably involved in the FTO issue

reading the 'scheme/offer' documents induces what must be at least a ''19th nervous breakdown''

and arriving at what is currently the conclusion means''I cant get no...''

so now we know how old some of us are!!!

[via con] 26/1/2015 14:36

Del44, "interesting" for you maybe , but it´s headache inducing for me ;o)

As the Rollimg Stones song stated, somewhat apropros to us shareholders

"you can´t always get what you want,

But if you try sometime, you just might find you get what you need"

[del44] 26/1/2015 14:03

via con:
For what its worth, thats where I find myself every morning...sell and be done with it once and for all. But I will continue to hold for now and continue to research out other stocks as I consider my final position....When I am in work it is easier to forget about this but when I am off (like today)I am constantly tempted to sell and reinvest else where...:-)

But I still find it interesting....