Medoil Share Discussion Threads

[queenbreguet] 07/9/2007 17:07

Bunch of wan........... sold out for a bit of short term gain

[sir real] 07/9/2007 16:35

Ah well,

Best laid plans and all that. Let's hope the next start up that's intimated generates enough finance to be viable. It's an expensive business isn't it?

[dipbob] 07/9/2007 16:31

Best play = PET.

Further Imminent Growth Pending if anyone is looking to cash their chips in from Medoil.

1st ever Iraq Oil Conference has begun with registration today at Hyatt Regency in Dubai.

Check out the agenda below, have a gander at the principal sponsors, sponsors & click on the pdf (the level of detail will blow you all away):-



IMHO:- Miss in Miss out. (Iraq is quite clearly the hottest play on the planet).

[oilhunter2] 07/9/2007 15:11

it would not surprise me if the directors of medoil start up another company. they seem to know their stuff. since the two directors are geologists and it seems to me that they want to drill wells. therefore the money raising problem does fit. remember medoil does not have much money left.

[oilhunter2] 07/9/2007 15:04

suspect the company could not raise money in this market to move forward.

[user75160] 07/9/2007 14:26

Disappointing to see this go, thought that this was a good long term hold - been a long term holder and have sat in the background over the last couple of years, thought with the background to the company and the potential that this could have easily doubled with some favourable news - still we just have to accept what is on the table - but at least we have not been totally shafted (like so many others over the years), i like the look of ROS (Another long term hold that is a bit of a gamble but worth a punt if you beleive in the recovery story), also TRP (in Uganda and Namibia - only recently annouced two farm-ins, so plenty of upside there, as long as they dont get taken out also), could be that we are looking at the start of a consolidation period in the O&G sector.
Have enjoyed reading the board and the valuable input from a number of knowledgeable persons - be interesed in seeing where everyone moves to.
!D!

[petemorr] 07/9/2007 13:30

I'm out at a small profit. Thanks for all the information over the last few years. Been a very enjoyable board.

[oilforex] 07/9/2007 13:13

Sorry to see what has happened today as I do not see this in the best interests for shareholders.

Plenty of good opportunities elsewhere at the moment (EME) which will soon deliver the results that MDL can no longer deliver. So my small MDL holding will be used to top up over there.

Every cloud...

Best Regards,

V

[dickdanbayne] 07/9/2007 13:06

duplicate book

thanks for the information, am a little disapointed as was hoping for a better return but at least i've still made a profit.

As all Medoil shareholders will be realizing some cash to maybe invest in other companies. Why don't we all do a bit of research and post details of any other companies we feel will be a good replacement investment with reason's why. It might be fun and it might help us all in making a decision.

Am off on holiday at weekend but when i get back I'll post a few I feel will in my opinion give a good return.

All the best to everyone

[duplicate book] 07/9/2007 12:41

All....for what it is worth, I have made a number of phone calls this morning and have managed to get one or two bits of info. It would appear that we have been undone by a combination of things. Firstly it would appear that one or two of the major shareholders in MDL wanted out. Also, although progress was being made in the right direction regarding the farm in, it appears that funds were required to secure this process and 'in view of the market conditions at the time', it was felt that it would be difficult to raise the required capital to take that forward. Think by the sounds of it, management were stuck between a rock and a hard place. Don't know how Cairn got involved but it looks like the Institutions and major shareholders involved were/are happy to take the 23p.

[cwa1] 07/9/2007 10:00

If you have something else with great potential then sell and re-invest there. Otherwise hold on for now to see what else comes up. 23p is a floor and unlikely to go away. I'm holding on FWIW for now. Will have to pay a wodge of it to the taxman anyway if no loan note alternative, this should be considered as well for each person's own situation :-(((

[petemorr] 07/9/2007 09:49

Not sure whether to hold or sell now... :(

[romin] 07/9/2007 09:48

Cairn's shares are up by 72p today - 4% (while the Oil & Gas sector is broadly flat - up 0.5%). The market certainly believes that these acquisitions are a steal.

That 72p is worth appx £90m. If you divide that windfall between MedOil and Plectrum according to market cap.... approx £30m would accrue to MedOil.

Add £30m to MedOil's current market cap and you have a share price of c80p.

The bid would have to come somewhere between 19p and 80p, but at 23p the lion share of the benefit goes to Cairn. I would have thought 50p would have been 'fair' but the price agreed clearly reflects the balance of power between the parties.

[duplicate book] 07/9/2007 09:41

Just as a footnote.......I do remember reading on a previous thread that a Company requires a minimum of 95% of the issued shares to force a buyout of another Company. If they don't get that amount, then I don't think the takeover can go ahead. I may be wrong, but it could be Cairn buying up all the loose shares to prevent any sort of hangups in the near future? Maybe somebody knows more about this.

[silence2] 07/9/2007 09:37

I am disappointed that medoil has sold itself so cheaply.
As many expected it would be bought out but not at such a low price.
I guess the management have let shareholders down in terms of the growth prospects that were achievable with medoil and cairn with their interest have portrayed just that.
I suppose capricorn got hold of the shares in advance hence left the medoil party on no legs, however i still think there is more in it for the shareholders if the directors and someone with a decent size holding decide to block, which personallly i do not think will happen.
Alternatively another bidder may come along but i would also expect that to be difficult as they would have to get hold of the shares at a premium from all parties, which is a possibility but highly unlikely.
In retrospect as confirmed in earlyer posts a base of 23p has been set so watch this space.

[duplicate book] 07/9/2007 09:35

Slogsweep.......Hindsight is a marvellous thing, and if we were gifted with it, we would all be better off!! I would like to know what has happened with the farm in? Maybe we have all had more faith in our Management than the Management have had in themselves!!!!

[slogsweep] 07/9/2007 09:31

Why are so much buying at 23? Is it just capricorn mopping up at the price offered anyway? Or could there be a rival offer? I'll break even @ 23 miffed I could have made a decent profit earlier but bought into the long term story. Big mistake to invest for the long term with this type of stock.

[romin] 07/9/2007 09:16

The Directors shares and warrants will be worth £4m at the exit price.... not bad for negotiating some licenses and completing a survey!

pre-ipo investors will have tripled their money.... not bad for a 2 1/2 year investment!!

discount to offer is a bit too large for me to exit just yet...

[cat100] 07/9/2007 09:12

each of the medOil Directors has
irrevocably undertaken to do (or procure to be done) once the Offer has been
made in respect of his own beneficial holding of medOil Shares (amounting, in
aggregate to 13,346,667 medOil Shares, representing approximately 24.7 per cent.
one other medOil shareholder, in respect of 5,833,333 medOil Shares,
representing approximately 10.8 per cent
Aerion Fund Management 3.7 per cent

that's a total 39.2% am I missing any to make this a done deal

Accordingly, Capricorn has received irrevocable undertakings in
respect of, in aggregate, 19,180,000 medOil Shares, representing approximately
35.5 per cent. of medOil's existing issued share capital

Wonder how many Capricorn all ready hold hmmmm

[bennie buffett] 07/9/2007 08:59

Dream on - this is over. Take your money and invest elsewhere.

[cat100] 07/9/2007 08:57

Both transactions will be settled in cash and were
recommended by the companies' respective boards.

Only recommended by the board not a done deal if you ask me

[cat100] 07/9/2007 08:51

One thing you are sure of is you have a floor of 23p. Also the float is so small we could have a big shareholder who could block this offer.

[cat100] 07/9/2007 08:50

You can be sure mdl have shown the seismic details to many companies looking for a farm in. If any of these companies say what cairn saw there should be a counter bid.

[cat100] 07/9/2007 08:47

sorry 1.36