Gasol Share Discussion Threads

[teraferma] 23/1/2014 18:39

We should relist a lot higher IMO. We will be generating income for the first time.We currently have a Mcap of £6M but will generate a pre tax profit of $16M per annum. Add to that the Benin and malta deals due for commencement in 2015, should be exciting times ahead.

[gjd000] 10/1/2014 18:40

How long is a piece of string....?

Government approvals could take a little while, as could the Venture parners approvals, although probably are all well in process.

Final trigger will be notification of an EGM.....

[scoobydoo99] 10/1/2014 18:19

Wonder how quickly they'll lift the suspension now?

[gjd000] 10/1/2014 17:09

Nice bit of news before the weekend.....

RNS Number : 4356X
Gasol plc
10 January 2014

10 January 2014

Gasol plc ("Gasol" or the "Company")

Signing of US$76 million debt facility with Deutsche Bank

The board of Gasol is pleased to announce that the Company has entered into a US$76 million debt facility (the "Facility") with Deutsche Bank to partly fund its proposed acquisition of 100% of the issued share capital of Energie de Côte d'Ivoire S.A. ("Enerci") (the "Acquisition") from GDF SUEZ E&P International S.A. (the "Seller"). The Acquisition was announced by Gasol on 20 December, 2013 and Gasol's shares were suspended with effect from 23 December, 2013 as by virtue of Enerci's size relative to the Company's, the Acquisition constitutes a reverse takeover under the AIM Rules for Companies.

The Facility has a final maturity of 13 months from satisfaction of all conditions precedent under the Facility. The interest rate under the Facility during the term is LIBOR plus between 4 and 9 per cent.

Entry into the US$76m debt facility with Deutsche Bank triggers the payment by Gasol to the Seller of a deposit of US$2m (the "Deposit") under the Acquisition Agreement with the Seller, which will form part of the consideration payable at completion. The Deposit is repayable by the Seller to the Company in certain circumstances.

The Acquisition constitutes a reverse takeover under the AIM Rules for Companies and, accordingly, is conditional upon the publication of an admission document by the Company and the approval of the Company's shareholders at general meeting. Completion of the Acquisition is also conditional upon, inter alia:

● approval of the Acquisition by the government of Côte d'Ivoire; and

● waiver of their pre-emption rights by Enerci's venture partners.



For completion of the Acquisition to take place, all conditions under the SPA need to be satisfied by six months from today or such later date as the Company and the Seller may agree.

Gasol plc

Alan Buxton, Chief Operating Officer

[dreggspicker] 23/12/2013 20:00

In the BOD we trust........ Gulp. Fingers and legs crossed......

[gjd000] 23/12/2013 19:44

I can understand why they suspended trading....any one hazard a guess what they re-commence trading at and under what name??? :-)

For once I feel quite pleased to be in here.....

[plunge] 23/12/2013 17:57

Some more details on today's announcement

www.proactiveinvestors.co.uk/companies/news/64435/big-picture-gasol-ready-to-make-the-leap-to-become-a-profitable-cash-generative-gas-producer--64435.html

[teraferma] 23/12/2013 12:54

Gasol (LON:GAS) has unveiled an utterly transformational US$116mln deal that will render the group profitable and gas generative.http://www.proactiveinvestors.co.uk/companies/news/64411/gasols-us116mln-cte-divoire-deal-will-utterly-transform-the-business-64411.html

[gjd000] 23/12/2013 09:34

Sounds like a great deal to me.

Buying $37m in revenues and $16.5m of annual pre tax profits for $116m, against a current market cap of £6m is nothing but transformational. Even factoring debt financing costs of the debt facility leaves a lovely picture.

Have a read of the CI-27 field here:

hxxp://documents.worldbank.org/curated/en/2013/05/17776074/cote-divoire-block-ci-27-gas-field-expansion-project

Looks like those revenues could quite easily move up a notch too.

This is an RTO based purely on size. Control is staying with Gasol as far as I can tell.

Seems to be the little Company that could......

[gheebee] 23/12/2013 07:45

In the year ended 31 December 2012, Enerci's share of the revenues under the PSC were €27.1m, with a pre-tax profit of €12.0m. The total consideration payable by the Company in connection with the Acquisition will be US$116.092m in cash. The amount payable at the Completion Date is expected to be funded by a US$76m debt facility to be structured and led by Deutsche Bank and Gasol's internal sources and existing facilities.

African Gas Development Corporation Limited and Afren plc have each entered into an irrevocable undertaking to vote their entire beneficial holdings of, in aggregate, 26,542,446 ordinary shares of 0.5 pence each ("Ordinary Shares") in the Company, representing 79.2% of Gasol's issued share capital, in favour of any resolution put forward at a general meeting to approve the Acquisition.

Mr Cooper and Mr Pas do like their Reverse Takeovers. First Gasol itself, then AFF, now this.

[nicd] 23/12/2013 07:11

Suspended, RTO, another drag along.

[teraferma] 17/12/2013 23:49

Material progress has been made at Benin and also at its Malta project, the firm said, where Gasol is part of a consortium, which has been selected as the preferred bidder for a LNG-to-power project."The board also believes that it will be able to secure further wins in LNG Import projects in other regions, such as southern Europe, which display similar market characteristics in that they are gas constrained."

[teraferma] 13/12/2013 07:40

Half yearly report out. Makes good reading, shows gasols huge potential.

[teraferma] 12/12/2013 21:40

Done deal.Gas supply power purchase agreement signed.http://www.independent.com.mt/mobile/2013-12-07/news/gas-supply-power-purchase-agreement-signed-3408658432/

[gheebee] 27/11/2013 20:05

So now we have a candidate for what that $30m was for, at least in the short term:

[savo2] 17/11/2013 18:52

hxxp://www.maltatoday.com.mt/en/businessdetails/business/businessnews/Former-OPEC-man-behind-Malta-gas-bid-20131111

[teraferma] 08/11/2013 22:32

Good question plunge. AB was pushing it in a video interview, commenting on it was a low Capex project with a short project time. I assume it is dead in the water now since the malta deal. I do however expect further gasol/socar projects in the future, FLNGs seem to be the next big thing.

[plunge] 08/11/2013 08:38

Does anyone have news on the middle eastern contract that was muted some while back?

[scoobydoo99] 07/11/2013 21:48

Good news for Gasol as well, wonder why there's no rns - the news story certainly suggests the Afren consortium are the confirmed suppliers?

[coincall] 07/11/2013 21:19

Good news for the Maltese

[savo2] 07/11/2013 19:30

No but an update would be nice from the company

[gavapentin] 07/11/2013 10:44

Any logic to the 10% drop?

[racinglad] 28/10/2013 19:20

and just the start