Latin Res Share Discussion Threads

[smartboss] 08/1/2005 16:14

since wen did they have a webpage?? its news to me.. looks like someone been working over the festive season.

[smartboss] 07/1/2005 19:17

Any ideas when this stock is back???

[imbigred] 04/1/2005 12:46

Yeah the film rights would have been fantastic

[hotfinance14] 04/1/2005 12:41

Would rather have shares in the titanic..

[imbigred] 04/1/2005 12:27

Tum tee tum tum tum. Still suspended. Thought this may of been of interest. It's a little old but I don't remember seeing it on here.

"The shares should be returned to trading before the end of the month and Lodore may attract more interest due to the potential windfall coming its way. However the sale of Novus' US assets is not guaranteed and without the windfall Lodore looks short on cash and bereft of any exploration licences at all. Investors willing to take a major risk could benefit from the upside but it is a major risk."

The link is:

[currypasty] 30/12/2004 09:31

still suspended !

[pomp circumstance] 19/12/2004 19:51

you gotta imagine it should be worth no more than the price of the listing, other wise why would the company not just float themeselves. Its not like they were a cash rich shell is it!!!

Im sure if youre still in the stock will be hyped on return so take the spike as your queue!!


The company they are reversing in is associated by personel with the board of lodore, its a way for them to release the value they have in Sunov, Im sure there will be quaite abit of selling after the initial spike on return!!

[saloch] 17/12/2004 23:55

bbb looks like the mail was correct on 27 nov got in at 10.31 any guesses as what this will be worth? s

[smartboss] 16/12/2004 22:05

few peoples personal opnion saying a re-rating of 19.4p, dats personal opinions, what are your opnions?

[pomp circumstance] 14/12/2004 22:18

Make what you will from the Crosby connection!!

[smartboss] 14/12/2004 19:44

its this new good for the shareholders or not?

[pomp circumstance] 14/12/2004 15:34

maybe this.....



Company Profile

Crosby Capital Partners Inc
Chart News Detailed quote

Name Crosby Capital Partners Inc

Ordinary share symbol CSB.ISE
Latest price 22.50
Last update 16:40 13/12
Change since last close +0.00 (+0.00%)
Currency British Pence

Number of ordinary shares 24,987,654
All symbols CSB.ISE SKW.ISE
All ISINs KYG8184J1022
FTSE sector Speciality & Other Finance



Key people
John James Leat - Chairman Shahed Mahmood - Executive Director

Profile
Crosby Capital Partners Inc, formerly Skiddaw Capital Inc, is a Cayman Island incorporated company who listed on the AIM of the LSE in March 2004.

The Company operate as an investment business and is aiming to create a portfolio of investments in companies in the Investment Banking Services and Third party fund management markets based in Asia.

[pomp circumstance] 14/12/2004 15:33

Under the terms of the Acquisition Agreement, prior to completion of the
Transaction, Sunov Crosby (Holdings) Limited

CROSBY? isnt that name familiar?

[tradx666] 14/12/2004 14:52

Good job this is not a related transaction, or one would have to ask a few questions...


LOL!!

[beg bitch beg] 14/12/2004 14:51

Memo to self must complain to editor mail on sunday for good tip(for a change)

[beg bitch beg] 14/12/2004 14:49

ha ha ha ha ha ha ha you still short cretins????????????????????

[ammerman] 14/12/2004 13:26

RNS Number:3815G
Lodore Resources Inc
14 December 2004


ANNOUNCEMENT
LODORE RESOURCES INC ('Lodore' or the 'Company')
ACQUISITION OF SUNOV PETROLEUM LIMITED

The Company is pleased to announce that it has today entered into a conditional
share sale agreement ('Acquisition Agreement') to acquire the entire issued
share capital of Sunov Petroleum Limited ('Transaction').

The Transaction will constitute a reverse takeover in accordance with the AIM
Rules. Accordingly, the Company announces the suspension of its ordinary share
capital on the AIM Market of the London Stock Exchange until such time as a
prospectus to shareholders in Lodore relating to the proposed Transaction is
published.

Sunov Petroleum Limited ('Sunov') is based in Singapore and is headed by
Chairman and Chief Executive Officer Dr Robert Williams, a geologist with over
25 years experience in the upstream oil and gas industry. Sunov is beneficially
entitled to receive capital on a disposal of certain oil and gas related
properties located in the United States currently owned by Novus Petroleum
Limited ('US Assets'). Sunov's economic interest will arise only in the event
that the US Assets are sold for an aggregate value of not less than US$120
million. Sunov will be entitled to receive 35 per cent. of the consideration
(net of taxes and other expenses) received above US$120 million.

The sellers of Sunov are Sunov Crosby (Holdings) Limited, Silk Route Investments
and Shake & Twist Limited ('Sellers'). One of the Sellers, Sunov Crosby
(Holdings) Limited is a wholly owned subsidiary of Crosby Capital Partners Inc.,
a company whose shares are admitted to AIM which is in turn a subsidiary of
Techpacific Capital Limited ('Techpacific'), a company listed on the Growth
Enterprise Market of the Stock Exchange of Hong Kong Limited ('GEM'). As
required by the GEM Listing Rules, Techpacific has made an announcement
regarding the Transaction.

The Transaction will be subject, inter alia, to the prior approval of the
shareholders of Lodore. The board of directors of Techpacific are seeking to
establish with GEM whether the Transaction requires the approval of
Techpacific's shareholders.

The Transaction
Lodore and the Sellers have entered into the conditional Acquisition Agreement
pursuant to which:

* the Company will acquire Sunov in consideration of the issue to the
Sellers of 466,666,667 ordinary shares in the Company ('Acquisition Shares').
Based on the closing price of Lodore's ordinary shares on 13 December
2004 (being the last trading day prior to this announcement) of 14 p, the
Acquisition Shares value Sunov at £65.33 million;
* the Company will seek to raise up to £1,400,000 by placing up to
9,333,333 ordinary shares at 15p per share pursuant to the commitment
entered into by placees at the time of Lodore's admission to trading on AIM
('Commitment'). Whilst the Transaction is not strictly in line with the
Company's stated investment strategy, the Directors will approach those
individuals with an obligation pursuant to the Commitment to determine
whether they are willing to invest at this stage ('Placing') ; and
* assuming the Placing is fully subscribed, the Sellers will own, in
aggregate, 77.21 per cent. of the enlarged share capital of the Company on
completion of the Transaction.

Under the terms of the Acquisition Agreement, prior to completion of the
Transaction, Sunov Crosby (Holdings) Limited and Silk Route Investments have the
opportunity to dispose of, in aggregate, up to 150 shares in Sunov (representing
15 per cent. of the issued share capital of Sunov) to third-parties ('
Sub-Disposals'). Any transferees of these shares will enter into a deed agreeing
to adhere to the terms of the Acquisition Agreement. The maximum number of
Acquisition Shares that may be issued to third-parties pursuant to the
Sub-Disposals amounts to 70,000,000 Ordinary Shares, representing 11.58 per
cent. of the enlarged share capital of the Company, assuming subscription in
full of the Placing.

Conditions precedent
It is emphasised that the Transaction is conditional upon various conditions
precedent being met and that the Transaction therefore may or may not proceed.
Completion of the Transaction is conditional, inter alia, upon the following
conditions:

1. there having been, immediately prior to completion of the Transaction,
no material adverse change in the financial position of Sunov;

2. the obtaining of regulatory and all such other approvals or consents
as may be necessary to complete the Transaction, including but not
limited to those of AIM and GEM, including approval of the Transaction by the
shareholders of Lodore and, if relevant, of Techpacific and re-admission of the
enlarged share capital of Lodore to AIM; and

3. no breach by either party of its obligations in respect of certain prohibited
activities prior to completion of the Transaction, as set out in the Acquisition
Agreement.

Timetable
Lodore is in the process of finalising a prospectus to shareholders which will
be issued as soon as practicable following receipt of GEM's ruling as to whether
the Transaction requires the approval of Techpacific's shareholders.

Enquiries:
Lodore
Peter Kirkham
[phone]

Strand Partners Limited
(Nominated Adviser to Lodore)
Simon Raggett / James Harris
[phone]

Fishburn Hedges
(PR Adviser to Lodore)
Andrew Reid / Andrew Marshall
[phone]

[ammerman] 14/12/2004 13:14

RNS Number:3799G
Crosby Capital Partners Inc
14 December 2004

CROSBY CAPITAL PARTNERS INC. ('Crosby' or the 'Company')

PROPOSED SALE OF SUNOV PETROLEUM LTD. ('Sunov') TO LODORE RESOURCES INC.
('Lodore Resources'),

14 December 2004


The board of directors of the Company ('the Board') is pleased to announce that
on 14 December 2004 Sunov entered into a conditional Sale Purchase Agreement ('
SPA') with Lodore Resources Inc. ('Lodore Resources'), whose shares are admitted
to AIM, that contemplates the reverse acquisition by Lodore Resources of Sunov
and the subsequent re-admission of Lodore Resources' enlarged issued share
capital to trading on AIM. Sunov is 61.0% owned by Crosby through its wholly
owned subsidiary, Sunov Crosby (Holdings) Limited ('Sunov Crosby'), and is the
owner of an economic interest in various oil and gas properties in the United
States.

The total consideration payable by Lodore Resources will be satisfied by the
issue of 466,666,667 new ordinary shares in the capital of Lodore Resources (the
'Consideration Shares'). Sunov Crosby holds 61.0% of the issued ordinary share
capital of Sunov. Assuming no sale of Sunov shares by Crosby prior to
completion, this holding would therefore equate to 284,666,667 shares or a 47.1%
shareholding in Lodore Resources' issued ordinary share capital as enlarged by
the transaction. The Consideration Shares are subject to a lock in arrangement
of a maximum of two years, the first year of which is in accordance with the
normal AIM requirements and the second year of which can be reduced if certain
specified conditions are met.

Based on the closing price of the existing Lodore Resources' shares on 13
December 2004 (being the last trading day prior to the release of its
announcement on the transaction) of 14 pence per Lodore Resources' share, the
Sunov Crosby's Consideration Shares are valued at an aggregate of £39,853,333
which implies that Lodore Resources has valued Sunov at a total value of
£65,333,333.


Completion

Completion will take place when all the conditions precedent referred to below
have been satisfied.

Under the AIM Rules, the reverse acquisition is subject to the approval of
Lodore Resources' shareholders. If Lodore Resources shareholders approve the
transaction, trading in Lodore Resources' shares on AIM will be cancelled and
simultaneously the board of directors of Lodore Resources' will make an
application for re-admission of Lodore Resources to AIM in the same manner as
any other applicant applying for the admission to AIM for the first time. The
re-admission document must be submitted ten business days prior to the expected
date of admission to AIM. This process will run concurrently with the notice
period of at least fourteen days required for a notice to be given to the
shareholders of Lodore Resources to inform them of the holding of the
Extraordinary General Meeting (EGM). Accordingly, it is anticipated that the
Transaction will be completed as soon as practicable after conclusion of the
EGM, and assuming the conditions to complete (described below) are satisfied at
that time.

The transactions will be completed by the shareholders of Sunov disposing of
their entire interests in Sunov to Lodore Resources in consideration of Lodore
Resources issuing the 466,666,667 Consideration Shares to them.


Conditions Precedent


Completion of the transaction is also subject to and conditional upon, inter
alia:


1. Approval of the transaction by shareholders of Lodore Resources and
Sunov including, if required, approval by the shareholders of Crosby and its
parent company.

2. Lodore Resources, Sunov, Crosby and its parent company obtaining all
regulatory approvals or consents as may be necessary, including but not limited
to rules and regulations of AIM.

3. The admission of the Consideration Shares to AIM


Other Relevant Terms

On completion of the transaction, Lodore has agreed to appoint a nominee from
each of the existing shareholders of Sunov to its board of directors.

On completion of the transaction, although Crosby will control in excess of 30%
of the enlarged issued share capital of Lodore Resources, it will not be
required to make a mandatory offer for the issued share capital of Lodore
Resources pursuant to Rule 9 of the City Code on takeovers and Mergers ('City
Code'). Lodore Resources is a Cayman Islands limited liability company so is
not subject to the City Code.


REASONS FOR AND BENEFITS OF THE TRANSACTION

On an on-going basis, the Board believes that the transaction will provide
several benefits to the Company.

(a) Additional working capital for Sunov can be provided by
Lodore thereby freeing up the Company's resources to focus on other projects.

(b) Provide an opportunity for Lodore to raise new equity at its
own stand-alone valuation independent of the valuation attributed to the Company
in order to finance its continued expansion.

(c) Assist the company's shareholders in valuing the group's
holdings in Lodore.

(d) Provide the Company the possibility of monetising part of it's
holding in Sunov

Trading in Lodore Resources' shares remains suspended and is expected to resume
immediately after the publication of the Readmission Document.

The consideration for the transaction was determined after arms' length
negotiations between Lodore Resources and Sunov.

The Board believes that the terms of the transaction are fair and reasonable and
in the interests of the Company and its Shareholders as a whole.

The sale of Sunov by Crosby to Lodore Resources falls to be classified as a
Substantial Transaction for the purposes of Rule 11 of the AIM Rules.


INFORMATION ON LODORE RESOURCES

Lodore Resources is a Cayman Islands limited liability company admitted to AIM
on 11 November 2004. It is an investment company that has had no operating
business since its incorporation in October 2004 and is effectively a 'cash
shell'.

Lodore Resources was established to build, largely through acquisition, a group
specialising in the oil and gas sector.


INFORMATION ABOUT SUNOV AND CROSBY

Sunov

Sunov was established to use its experience and expertise to maximise the
potential from investments in oil and gas exploration, development and
production projects. It owns economic interests in oil and gas assets located in
the United States, which are currently owned by Novus Petroleum Limited ('Novus
'), a company recently acquired by Medco Energi Internasional Tbk ('Medco').
Sunov's strategy is to build a substantial US based oil and gas business. Sunov
is headed by, Chairman and CEO, Dr Robert Williams ('Dr Williams') a geologist
with over 25 years experience in the upstream oil and gas industry including 11
years at British Petroleum. Dr Williams is the beneficial owner of 5% of Sunov.
Dr Williams also founded Novus and was involved in the purchase of the of the
US assets in which Sunov has economic interests. These assets comprise of
producing oil and gas fields and exploration areas located in the Gulf of Mexico
and onshore Gulf Coast. Medco has retained the services of an investment bank
to assist in generating interest for the US assets and to assist Medco in the
sale process. Any sale of the US assets entitles Sunov a 35% share above a
certain reference value that was previously agreed with Medco. Sunov's share in
the sales proceeds will provide it with capital to make acquisitions and to
explore and develop oil and gas properties located in the Gulf of Mexico and
onshore Gulf Coasts.

The carrying value of Sunov on Crosby's balance sheet was US$213,500 at 30 June
2004.

Crosby Capital Partners

Crosby with dual headquarters in London and Hong Kong, was established in 1984
and is now Asia's leading independent investment banking and asset management
firm. Crosby has a substantial and diversified client base in Asia, the Middle
East and Europe.

Crosby's merchant and investment banking arm has been providing clients with
financial advice for over two decades. Crosby has the professional expertise to
execute complex financial transactions comparable to a top tier global
investment bank whilst still retaining the responsiveness, independence and
focus of a smaller firm. In recent years, Crosby's merchant banking arm
leverages the experience, expertise and the extensive network of its senior
investment banking team by partnering with its clients to create unique
solutions to reform their capital structures or create and unlock value for
shareholders.

Crosby's asset management arm has been managing innovative investment funds,
across a wide range of asset classes, in both the public and the private arenas
since 1986. Crosby's newly formed wealth management arm acts as an independent
investment advisor to high net worth clients. The wealth management arm operates
in partnership with a major Swiss bank which provides support services and safe
custody for client assets.

www.crosby.com


For further information on Crosby please contact:

Simon Fry, Chief Executive Officer in London on [phone]
Martin Angus, Chief Financial Officer in Hong Kong on [phone]


This information is provided by RNS
The company news service from the London Stock Exchange
END

[tradx666] 13/12/2004 18:17

During the last five years Mr Leat has been a director of the following
companies:



Smech Management Company Limited
Kildigan Stud
Goldolphin Racing
Cheval Property Limited