Meridian Petroleum Share Discussion Threads

[rizzzla] 27/11/2009 08:40

now its oversold

[ducatiman] 27/11/2009 08:39

where is support this time?

[hillwalker2005] 27/11/2009 08:29

interesting that Halifax still have not debited the money lol. Anyone else?

[preppy] 27/11/2009 08:26

OK, I'll settle for half as a starter!

[tam oshanter] 27/11/2009 08:21

Preppy - 27 Nov'09 - 08:16 - 16359 of 16359
OK, so a 10 bagger from here leaves us with a sub 90M cap.

Not as PPC. more like 200m

[preppy] 27/11/2009 08:16

OK, so a 10 bagger from here leaves us with a sub 90M cap. I'm holding tight and will likely buy more President shares next week following results of excess offer etc.

Hoping for some timely pre-Christmas RNS's too.

GL All, and I'm hoping to overtake Robo this evening ;) - Thanks for the lift Pingu.

[scarletpimpernel2] 27/11/2009 08:00

even if he achieves half of what he did with IEC i'll be happy to say the least... have to be optimistic..

[rizzzla] 27/11/2009 07:27

Inevitably holders of Meridian (MRP) would typically have sold part of their holding to finance the clawback stock. Accordingly, there has been a succession of sales which have not been on investment grounds. Since payday for the clawback stock is today, these sales have presumably ceased, thus giving Meridian headroom again. I appreciate that some of the new stock which will be to hand in, say, ten day will be sold when it rocks up but this should be ignored and the 400p target price for Meridian underlined. (Incidentally, I see Peter Levine who is now so heavily engaged in Meridian also today announces that he is going for it with Island Gas (IGAS). Levine is indeed committed.)

[maharees] 26/11/2009 23:09

Short term price movements are not as important as the long term view. IEC IPO took 4 years to mature. I think I will be patient and take life easy.

[pingu08] 26/11/2009 21:20

Back after travels to find letter from SG dated 23 November, going to arrange to meet as can't make the EGM

Not surprised by share price action today, closing time for T20's from RNS day wasn't it?

PPC PFJ.

[brasso3] 26/11/2009 21:14

I see Levine has taken a 13% stake in IGAS and John Hamilton has also joined the board there. Not so much of a discount though as we have had to accept but we did get the 1 for 3.

[william-just] 26/11/2009 20:05

So 11am this Friday is the last time for acceptance.

[milfeddyg] 26/11/2009 19:42

wozelbeak - 26 Nov'09 - 19:11 - 16349 of 16351


wozel,


Enough for 1 4 3 and a few extra 1 4 1 for Trevor Markham perhaps?

[william-just] 26/11/2009 19:16

My buy finger is getting rather jumpy.

[william-just] 26/11/2009 19:15

I think you could opt to pay for the new shares from shares in your account to be sold, that would cover the purchace.
If so and you opt for the full ammount eg 1-4-3 and 1-1
then the broker may well sell the full cover amount but you may only get a fraction of the 1-1.

[wozelbeak] 26/11/2009 19:11

what is that 51p late trade all about then?

[enq] 26/11/2009 17:10

Marvellous, thanks all.

I suspect, as you do, that the broker has let me short my first share, however my position is of course that they acquired them for me at 25p in the first place & then confirmed, by telephone, that this was the case & that I had good title to them with no attached liabilities.

I'll report back if they catch me, other than that I do of course hope the price now slides so that, should the worst come to the worst, my position is insulated.

In an ideal world I will also be credited with the rights shares & excess again on 1st Dec so I can do it all again.

In the meantime I shall keep the cash on standby just in case.

Regards, enq.

[tam oshanter] 26/11/2009 16:39

Last month Levine took control of Meridian Petroleum to become his oil and gas takeover vehicle. Havnt seen it in those terms before. Tasty

[sideshowbull] 26/11/2009 16:35

There is no way you can already have the 25p shares unless they fluffed it. Take the money and run.

[metastock2] 26/11/2009 16:20

be carful then
you may have sold shares that you don't
actually have

[enq] 26/11/2009 16:17

Hi metastock - the problem is I didn't have any MRP shares - I bailed out after the record date & haven't been back in since.

[wooster4] 26/11/2009 16:16

enq - only way you could get all of excess is if no one took up offer. your account probably shows the full amount for the excess being taken as it should. Next week you will know how many you were allocated in the excess (which will be some but not a lot i expect), and your account will be reimbursed with the difference.

[ducatiman] 26/11/2009 16:12

enq, ty, just phoned my broker who said crest delivering stock 1st dec! Are you saying that you got the excess = to your holding, ie:- if you had 10k shares you received 10k excess? If that is the case I think there has definately been a mistake. You may be forced to buyback, so if the share price drops you will be ok but if not be careful. Good luck, duc.

[metastock2] 26/11/2009 16:10

enq
don't know
but as I understand it admission of new
shares are on 1st dec
if
the proposal is passed on Monday
I think you may have sold some of your normal holding