Irvine Energy Share Discussion Threads

[izzymiyaghi] 21/5/2012 22:23

Thanks Tekket - hugely appreciated!

[medved5] 21/5/2012 07:42

To list on Plus small cap PLC's are charged around 6 or £7,000 per year. Aim market over 100,000 per year thats the diff

[johnstonp] 20/5/2012 17:01

ICAP have bought Plus for £1

[medved5] 19/5/2012 09:13

There are plenty of other markets that we can list on of the same ilke as Plus

[mwestern] 15/5/2012 09:06

Sparty

Yes, a listing on Plus was in the £100k - £150k range where as a listing on AIM rarely costs less than £500k, and often is nearer the £1m mark.

The scale of the proposed placing would have to be significantly increased for a listing on AIM to be achieved, and a full prospectus would have to be published in advance of any listing on AIM. There was no requirement for a full prospectus on Plus where private placings were offered to fewer than 100 people.

Source:

[sparty1] 15/5/2012 08:54

Yes the news re plus is poor and a listing on AIM would be more expensive...

[flyingswan] 14/5/2012 13:40

SGG just came out of suspension today as a cash shell so there is still hope for IVE. IMHO



Cove chief backs new Aim oil explorer
By Michael Kavanagh
John Craven, chief executive of Cove Energy which has recommended a £1.1bn takeover by Royal Dutch Shell, has emerged as backer of a new Aim-quoted oil explorer.
Steve Staley, a non-executive director of Cove Energy and proposed chief executive of the new venture, confirmed that Mr Craven would be a shareholder and sit on the advisory board of Fastnet Oil and Gas, being created out of a reverse takeover of Dublin-based Terra Energy by cash shell Sterling Green.

Mr Craven will not sit on Fastnet's main board. However, Michael Nolan, Cove's finance director, is a proposed non-executive director of Fastnet.
The company has also recruited Michael Edelson, non-executive director of Manchester United whose reputation of helping create numerous cash shell companies brought to the Aim and Plus markets in London has earned him the nickname of "The Shellmeister".
Both Mr Craven and Mr Staley are in the final stages of closing a sale of the African-focused oil and gas group, whose main asset of a 8.5 per cent stake in a gas field off Mozambique was acquired for a headline price of just over $3m in 2009, following a protracted auction.
But in spite of the overlap of people involved, Mr Staley said: "We are not Cove Mark II."
The company, which is raising an initial £10m at 11p a share from institutions and individuals, has made securing exploration acreage in the Irish section of the Celtic Sea its first priority.
According to Mr Staley, Fastnet hopes to secure blocks off Ireland's southern coast in the Fastnet, Molly Malone and Mizzen basins and conduct further seismic exploration and appraisal work, following recent drilling success in the region by fellow Aim-quoted Providence Resources.
But he confirmed that Fastnet would also be aiming to exploit the expertise of its board and advisers in targeting exploration projects in east and north Africa.
Mr Edelson said he expected investors in the venture to profit from "leveraging the experience and contacts amongst the proposed new directors and advisers".
A proposed sale of Cove Energy appeared to move a step closer last week after the Mozambican government confirmed its approval for a sale to Shell. Uncertainty over the amount of tax that might be payable to Mozambique on the sale of its 8.5 per cent stake in a field operated by Anadarko Petroleum had prompted an effective suspension of the competitive auction in March.
A counter-bid to Shell's original offer of just under £1bn made by Thailand's PPT Exploration in February prompted Shell to raise its offer to £1.1bn in April. Though it has been recommended by the Cove board, PPT has reserved its right to made a further approach.

also

[mwestern] 14/5/2012 13:30

This will put a spanner in the works of their plans to be admitted for trading on Plus anyway:

Financial Times: Plus Markets to close after sale failure

[5bag] 14/5/2012 12:53

Our money, just used to buy the co's paper, which is virtually worthless even if it was tradeable. These were the masters of 'spin'. There's many on AIM like it, such is the nature of a virtually unregulated market. An AIM co needs at least a credible partner before I invest in them now. Otherwise I leave well alone. Sure I miss the 1 in 20 chance that one will multibag just when im holding it, but prefer that to a 19 in 20 chance that my investment stagnates at best, or worse, like this, is vaporised.

[osammyboy2] 14/5/2012 12:16

5bag The air was never that fresh!

[h d shoring] 14/5/2012 12:03

Well as shareholders we have just had a whitewash,and i have yet to see any indication of where our money went.more to the point who has got it .??
Fair to say with little oilers, vaseline is not always needed,evaporating oil is just as good for shafting .

[5bag] 14/5/2012 11:51

or at least they could start a carwash :)

[upthediff] 14/5/2012 11:42

LOL, you never know, they might hit an underground spring and we could get taken over by Volvic. :D

[5bag] 14/5/2012 11:26

the natural resource that this co is best at is....fresh air

This has already been proven, and might well be proven a second time around, for those that forget what the first time was like (Dust off the vaseline).

[joe8472] 11/5/2012 08:53

They also have that one that mines uranium

[upthediff] 11/5/2012 08:51

The update states that the company intends to invest in/acquire resources – can you tell me what type of resource, e.g. oil, oil shale, gas, etc?
The Company will consider the evaluation of oil & gas assets, but intends to also consider evaluation of a broad range of natural resources.




If one penny gets invested in PAL (Equatorial Palm Oil) which was started by the other clown from here (Micheal Frayne) I'll be contacting the FSA.


PS Thanks for posting the conversation.

[tekket] 10/5/2012 23:23

@madchick
No problem posting that info elsewhere - I guess the more people that are informed the better. Will be interesting to see how things pan out over the next while.
Gl

[drrichard] 10/5/2012 21:35

Thank you tekket, very good reading

[madchick] 10/5/2012 21:04

PS - Many thanks for your post tekket! I'm going to post it over on LSE if someone hasn't already done it (hope you don't mind - credit will be given!).