Niche Group Share Discussion Threads

[welsh2] 12/4/2015 12:29

From Sound Oil's CPR 2nd April 2015 (see 3rd point partnerships)
James Parsons, Sound Oil's Chief Executive Officer commented:

"The CGG CPR results are very pleasing and serve to:

· validate the scale of our Italian portfolio, blending cost covering production and low risk existing discoveries with significant blue sky exploration potential;

· provide the first opportunity to reveal the Dora discovery and the Dalla prospect, which are new, material, yet low risk offshore gas assets very close to producing platforms and other existing infrastructure; and

· prepare the way for the next stage of development of our Italian business including various asset funding and partnership arrangements.

[peckhamrye1] 11/4/2015 17:21

Thanks, im not sure, it will be the fully typed up judges findings of whats what, and when things happen etc.

I will keep watch and get it, put it up on here if I can.

It may be that some of the judgement has been complied with eg., sets of accounts etc... but they still have to file the last years, which is now listed as late, so there will be penalty charges etc.

Be interesting to see what happens now on in.

thanks

imo

[welsh2] 11/4/2015 14:51

Peckhamrye1 - there is now received 10/04/2015 Court Order on Solocheck - coming soon it says - does this mean the Examiners Court?

"appointing Mr Wallace as liquidator, also directed the company’s directors, to file statement of affairs in 21 days time. The matter was listed before a sitting of the Examiner’s Court in April".

[welsh2] 04/4/2015 12:50

Peckhamrye1 - there are some new docs (as of 1st April) on Oman Resources listed on Solocheck, including a B1 Annual Return for 2013 and another one for 2014.

[peckhamrye1] 30/3/2015 12:46

sound have been on the upswing, theres the baldi and nervsea drills for gas/oil and im not sure what funding is needed by them as they dont say they are struggling and last time a big investor came in with money that they called a cornerstone investor.

ngp say its all about near term returns so it has to be a drill thats got all the cprs in place and must be about to drill and then got premission to flow test.

so far, i keep thinking its ukog, dunno why just do.. be a good investment.

as for alplay id forget about it if ngp got its money back from jk etc.. also, someone posted the link up to the ardilaun website... its got enzo zappo on it as a director... he's on the ngp bod as well.wtf

all imo..

[welsh2] 30/3/2015 12:27

Yes it says in 2013 Ardilaun bought some licences offshore ireland from San Leon as part of the deal San Leon got 20% of ardilaun. Where are sound oil up to ?? Drilled well onshore Italy?? There share price has gone up nicely from 10p to 16p recently

[peckhamrye1] 30/3/2015 12:10

i used solo check ireland, there you can do a name search on jk, tooth pick or whatever his name is etc..

im still intrigued by the statement within the announcement last week, its gott abe sound oil or lenigas.

or maybe a d lenigas co....i hold ukog btw... not a tip but its doing bloody well for me..

whens 21 says past the 17th march.. is it the 11th april...

all imo gla

[akajimmy9] 30/3/2015 11:45

The link is John McKeon

[welsh2] 30/3/2015 11:30

San Leon Energy own 20% of Ardilaun it says in a deal in 2013
What is the link to Ardilaun??
Any way atleast Sunday Times article shows Oman has exploration licences in Turkey

[peckhamrye1] 30/3/2015 10:55

I looked up Ardilaun Energy, and it says its to do with animal husbandry activities.... whatever that is...


Company Name:Ardilaun Energy Limited
Time in Business:4 Years
Company Number:492089
Size:Medium Company (Balance sheet total does not exceed 7.62m)
Current Status:Normal
Principal Activity:[01.42] Animal Husbandry Service Activities, Except Veterinary Activities
May Trade As:Diamond Dogs

[akajimmy9] 23/3/2015 21:05

hxxp://ardilaunenergy.com

[yohoho] 20/3/2015 22:01

Welsh2 with respect I really don't think we care what you think as you are so clearly behind the ball you are clueless.

[welsh2] 20/3/2015 17:15

I still think what comes out of OR case will have a bearing on what happens or not going forward

[welsh2] 20/3/2015 16:53

If it relists would be great for us but this update promises nothing -

[peckhamrye1] 20/3/2015 14:48

cant knock them at all for keeping the fire burning here... least this is my only stock that in the last few years hasnt lost any money.... so its become my top performer.

all seems to read positive, would have made a decent rns....think a relist booze up would be in order.


gla

[sirraman] 20/3/2015 14:42

yep...looks promising for a re-list later ....and must say thanks to Chris Theis for managing this carefully but assertively through the muddy waters that are the AIM and the Turkish way of operation...

Near term Italian producing investment opportunity looks interesting and if the deal does go through ...we may well be on course to relist on AIM by end of year.... ??maybe ??

should get an update next month..both on the Italian potential and progress on the KPMG liqusation pesuance.....

Here is keeping all fingers crossed nad power to the CEO !!

Sirra

[lochnessmonster] 20/3/2015 13:35

Looking forward to seeing what Kieran Wallace digs up from the murky waters of Oman. With a court order behind him that will be interesting. Did anyone leave any trails? Relisting this year? Life in the old dog yet? LNM

[bones30] 20/3/2015 13:27

Stop ramping ;-)

[pragster] 20/3/2015 13:25

Cut and pasted:

Niche Group plc provides company update

I am delighted to update shareholders on progress made by your Board over recent months to establish a portfolio of income-producing energy assets and seek re-admission to AIM.

Against a background of turmoil and retrenchment within the oil and gas industry, we have continued to actively assess a significant number of investment opportunities since late last year. Our agreed strategy is to invest in production and/or the development of existing discoveries, focussing our attention over recent months on the Mediterranean and European areas, but not to the exclusion of other geographies should exceptional opportunities present themselves.

However, a good number of the potential transactions that pass across our desks have been turned away because these did not meet with our strict investment criteria to generate near-term cash returns for shareholders. The Board’s caution in this regard has been somewhat vindicated by the recent dramatic fall in world energy prices, which has made many assets and projects across the industry either uneconomic, or difficult to fund. For those companies, such as Niche Group (the “Group”), that have kept their resources intact, the opportunity to participate in sound projects on attractive terms are now beginning to grow as vendors become more flexible. Accordingly, we have seen an increase in the number and quality of potential investments being offered to the Group and we are assessing those of possible interest.

Our interest in the Mediterranean, European and “near East” markets remains strong despite the time required properly to evaluate projects. In particular, we have made encouraging progress with a fresh opportunity to potentially invest into the Italian gas market in the short term. This modest investment could be made through a number of ways, for example, via an equity investment in the parent company/operator of the project; a farm-in to the project; or through a combination of both. The Board is currently examining these options and will make a decision in the light of the other party’s financing requirements. We anticipate their funding plans will be finalised by Easter 2015 targeting a ramp up of their gas production over the next 12 months. Subject to discussions, such a project would deliver near term returns to Niche and enable this relationship to deepen further over the coming years. The proposed modest investment will require recourse to shareholders and is important as it paves the way towards a larger transaction elsewhere simultaneous with our planned AIM admission.

We also remain attracted to Turkey as a region where demand for energy continues to exceed internal production despite sizeable untapped reserves. Niche has held discussions with a number of the prominent oil and gas producers in that country, whilst monitoring its existing investments in ARAR and Alpay Enerji AS. A recent oil discovery made by our partners at one of these portfolio assets confirms the potential of this area, though the find requires further evaluation to establish its full commerciality. As announced previously, our discussions, which are in no way certain, with Mr. Fatih Alpay, our Turkish partner, are on-going, complex and extensive, and may lead to an increased investment in the portfolio, subject to finalised terms and financing. We are working in conjunction with one of our significant investors to assess the opportunity for further investment.

Aside from investigating new commercial opportunities, we have continued to pursue the recovery of unpaid debts owed to the Group. In December 2014 we initiated an action in the High Court in Dublin, seeking the restoration of Oman Resources Limited to the Irish Register of Companies having discovered that its directors had failed to comply with filing obligations and the company had been consequently struck off the Irish Register of Companies. In parallel we also applied to the Court for the liquidation of Oman Resources Limited, which is a significant debtor of Niche Group, so that the winding up of Oman Resources Limited can be dealt with and supervised by a Court appointed liquidator with full powers to investigate the affairs of the company. This action was commenced following careful consideration of legal advice that we obtained and follows a long period during which we attempted to resolve matters with Oman Resources Limited without recourse to litigation. I confirm that following a hearing that took place in the Irish High Court in Dublin on 16 March 2015, an order was made placing Oman Resources Limited into a Court supervised liquidation and appointing Kieran Wallace of KPMG as liquidator.

Finally, the Group remains committed to a flotation on AIM this year, which would be best achieved in conjunction with a significant transaction that increases Niche’s scale. Given our continued access and support from significant investors and shareholders, we look to the future with cautious optimism.

Christopher Theis, chief executive.

For further information, please contact:

Niche Group plc

Christopher Theis, chief executive 07974 922094 Rakesh Patel, finance director 07788 426600 www.nichegroupplc.co.uk

Luther Pendragon (PR advisers) 0207 6189100 Neil Thapar and Alexis Gore