Latin Res Share Discussion Threads

[rambutan2] 26/9/2005 12:33

how many shares have they got in issue - does approx 605m sound about right?

[rambutan2] 26/9/2005 12:21

well, lrs keeps adding to its resources, i wonder what sort of valuation could be put on it - if we conveniently forget about the value of the ibd bid just for a minute. anyone prepared to hazard a guess?

[sheeneqa] 23/9/2005 12:25

Dr Bob Williams, chairman of Lodore, said "Padre Island is one of the most
interesting exploration opportunities I have been involved with during my
career. I look forward to the recommencement of drilling on the island which I
hope can begin in earnest later this year or early in 2006.

Doctor Bob.......

Bob Williams has been active in the petroleum industry since 1976. Awarded a PhD in Geology from Cambridge university, Bob started his career as a Geologist for BP. His last posting at BP was as head of BP Australia. Following his tenure in BP, he became the chief executive Oil Search, when the company was a non-producing explorer with a market cap of around $20 million. Oil Search is now the leading producer of petroleum in Papua New Guinea and a major oil company on the Australian Stock Exchange. Bob left Oil Search in 1993 to create and float Novus Petroleum in what remains the largest ever IPO of an oil and gas company on the ASX. Over nine years he grew Novus from an Asian focused company into an internationally recognised E&P company with operations in Asia, the Middle East and US Gulf of Mexico, successfully riding out the Asian financial crisis and more than doubling reserves along the way. Bob moved to Singapore in 2004 to create and lead the Sunov advisory and investment team.

[orvis] 23/9/2005 12:15

In a normal takeover situation the latest news would help the company argue for a higher takeout price, especially with IBD down to 215 Yen at the moment.
However with the involvement of CSB in both co's I don't suppose Lodore will fight. Have to assume then that this news will help the IBD share price when today's news hits Japan.

[fitehills] 23/9/2005 12:10

This is a big move for the company and the acreage contains large known oil reserves and gas,this will now fly IMHO and I expect press coverage this weekend.Topped up myself and would expect others to do the same over the next few days.

[dime] 23/9/2005 12:01

Announcement out. Acquisition and update - Looks pretty good to me - any thoughts anyone? Wonder if it will get picked up in weekend press?

[sheeneqa] 15/9/2005 13:23

Certainly is, thx for that, LRS seems in the bag, copper project looks uncertain at the least for CSB.........

[rambutan2] 15/9/2005 00:34

the investor presentation is worth a view...

[sheeneqa] 14/9/2005 13:57

Nice rise today, hopefully see the price go up a few more pence in the next couple of weeks to get the stronger hands to sell........

Same registered office as CSB now........as per latest RNS........

[orvis] 05/9/2005 08:04

Drilling update just out - Louisiana site unaffected by Katrina altho' drilling team have been delayed by it (at no cost to LRS).
Its good news as worries about the site may have been holding back the share price and IBD's share price

[pork belly] 02/9/2005 13:04

up 0.5p .looking good.

[sheeneqa] 02/9/2005 12:06

This little gamble is starting to pay off, fingers xd for a surge when the deal nears completion.......

[pork belly] 02/9/2005 08:26

The Telegraph today:

Traders kept an eye on Lodore Resources, the oil and gas explorer being taken over by IB Daiwa Corporation through a paper offer. Traders said after the market closed in Japan, IB Daiwa had announced plans to buy a petroleum company in an earnings enhancing deal. Lodore was unchanged at 15¾p.

[scribbler101] 01/9/2005 16:58

This thread currently lists as currypasty / pork belly.

Very fattening.

Not sure what a "currypasty" is. In Far East they have "Curry puffs"

[orvis] 30/8/2005 10:07

283yen
t'over = 22p/share

[orvis] 26/8/2005 06:59

Up to 276 yen yesterday - thats worth 22p a share to Lodore holders under the offer.

[orvis] 24/8/2005 22:06

According to the Evening Standard Corvus only paid £100,000 for its Lodore shares, hence the report they made a £4.5m profit selling today.

Edit. the report also said that none of the shares were sold to IBD or CSB.

E mailed Simon Fry's office today to ask where is the IBD/Lodore offer document suppoesed to be sent out on July 28th. Wonder if I will get a reply in the light of today's RNS saying talks were continuing.

[rambutan2] 24/8/2005 11:24

now that's an interesting point orvis - which i'd missed!

[orvis] 24/8/2005 10:43

Re-reading the offer update from last month I noticed that IBD expected to send out offer documentation to Lodore shareholders on July 28th. Anyone received it?

I also noticed that if acceptances of the offer are for over 90% of the shares then Lodore delists from Aim. If acceptances are below 90% (the deal still going through) then the Lodore Aim listing will be retained. This explains why a poster's broker said that they expect Lodore to remain listed.

[4johnb] 24/8/2005 10:31

Orvis - Corvus are hardly the right people to take a steer on value. They sold out of CSB at about 18p if memory serves (there is an RNS), and the note they put out about LRS sale talks about proceeds, not profit. In my view, the fact they are out of the stock actually takes away the overhang, and probably, if the whispers are true, the only real sellers over the past few months. I prefer to take my lead from real investors, not the guys who promoted the shell. The real question therefore is who bought the stock that was sold by corvus

[pork belly] 24/8/2005 09:06

"It said the proceeds will provide capital to implement its strategy of
seeking "undervalued situations"."

clearly, corvus do not think that lodore are undervalued. makes you wonder why they, and others, don't seem to think very much of the IBD bid.

[orvis] 24/8/2005 09:01

So Corvus have sold out. Wonder if they made any profit - can't find anything in their RNSs to show what was paid for them.
Corvus must be in a hurry to get the dosh. If they could have waited till the IDB deal goes through they could perhaps have got 50% + more than they have. Not a great decision on the face of it!

edit. I note that this morning's AFXF news release claims they made a £4.5m profit on the sale - for this to be correct they would have to have got them for nothing