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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hephaestus | HEP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.875 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.875 | 2.875 |
| Top Posts |
|---|
Posted at 12/11/2007 20:31 by egoi For share price www.asx.comI have reluctantly sold out, mainly because I needed funds for a couple of UK stocks I have been aggressively buying into in different sectors but also because HEP were talking of production by mid-summer pre the move to Oz and EPG have offered no newsflow. As we are now into November Buffin's misgivings about EPGs track record on timetables and lack of news persuaded me to get out, even though the company owed me nothing! |
Posted at 22/2/2007 14:11 by jonno1 talktalkso where are they then?, I also have some with TDW and they are still visible but untradeable. if I had 25000 HEP then how many EPG do I now have? do you know? cheers |
Posted at 01/1/2007 17:07 by rapier686 Pretty much any case for EPG to be a strong performer would also be a case for an unmerged HEP to be a strong performer.Arguments to support the merger have to either a) Appeal to HEP being in a very significantly worse position than EPG to raise the required funds. It is in a worse position, but I don't see the issue's worth a huge discount. b) Argue that the residual Canning basin royalties are valuable - hard to do when there ain't much production and the odd duster gets drilled. c) Argue that Lons-le-Saunier is very valuable. I'm most amenable to the latter - but the licence isn't fully granted yet and even if it was we're an awful lot further from seeing if it's feasible to get gas out than we are in Lorraine. And we do know there's less net coal and what there is is deeper, so the economics are less likely to be favourable. |
Posted at 15/12/2006 18:15 by rapier686 Why would you want to leave?Presuming you would have been staying in HEP in the absence of a takeover, then EPG is pretty much the same package of assets and EPG was operator anyway. Might be a pain dealing on ASX or Euronext when the time comes - but on both your order goes into an orderbook. There may be forex conversion charges to extract sterling but that's more than compensated for no ginormous MM spread. The only issue I can see is that if you've held HEP for > 1 year then I would expect to claim business asset taper relief on HEP but no-way on EPG. My personal view is, we've enjoyed a recent +50% since the summer but there's still loads more to play for. A good bet for a further +50% or more in '07 as a) Lorraine GIIP is upgraded due to finding more coal than expected. b) Lorraine Sud's extensions of the exploited structures come into play - further boosting GIIP. c) Lorraine goes into pilot production. d) Lons le Saunier (we'll probably be EPG by then) is granted and the extent of resource begins to get scouted out. |
Posted at 01/11/2006 09:35 by lmhardy01 Egoi in regards to your comment re valuation multiple re EPG It is clear that now HEP shareholders are in Lockstep with EPG- ie if EPG rises then so will HEP. Yes I agree that the multiple was "fixed" at 80 Cents EPG (.55 Shares HEP to 1 EPG) artificially "not happy Jan" but that is life |
Posted at 23/10/2006 04:31 by buffin EPG has the initial permeability results out at .At A$0.7275 we are still off the high (for the moment) EPG price at which they fixed the "rate of exchange" for HEP offer (A$0.80), so HEP holders don't get to share any upside from this update. Will the announcement encourage Anglo Pacific to pursue HEP, and if so how? |
Posted at 11/10/2006 22:36 by sranmal With EPG out-pacing HEP in the share price stakes recently (partly or even mainly due to our being quoted on OFEX and little covered), I've been contemplating whehter I should be holding EPG rather than HEP. This seems like a decent deal to me, as it would gain me a few pence per HEP share and then "do the transfer" for me? Of course, my HEP targets were much higher than the current SP, due no reason why they can't be realised as part of a larger, more liquid and noticed group. |
Posted at 11/10/2006 21:21 by papillon Does anybody think there is a possibility of another bidder for HEP entering the fray thus upsetting the cosy little relationship between HEP and EPG? After all the potential of all this gas being present might make HEP a tasty little morsel for a small to middling size oil company who want exposure to it? Companies like AST or SEY could be interested? Or am I talking utter rubbish? After all if EPG thought somebody else might be sniffing around HEP then it could have made them bid now. |
Posted at 11/10/2006 20:44 by lmhardy01 Very interesting, I have to say I am a little disapointed as I value HEP at between 30p - 35.3p per hep share. Lets see what the market does to HEP tomorrow if anything. |
Posted at 11/10/2006 20:16 by rapier686 I imagine the 1.5p/share element of the deal amounts to paying out HEP's cash.At year end, EPG had A$13.5m since when they've been spending in Lorraine, sold their residual Terratek interest for C$440k's worth of shares and Broome for A$2.3m. If HEP have £800k left, they've presumably spent about £600k since year end, so EPG have spent around £2m = A$5m. Leaving EPG with about A$11m ~= £4.5m. So if cash accounts for it, EPG are expanding their interest from 75% to 83% in exchange for £4.5m of funding to the JV. Which values the complete venture (ex cash) at £9m. I find that something of an undervaluation! [Also the takeover will mess up HEP's business asset status for CGT purposes] |
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