Petrolatina Energy Share Discussion Threads

[peterbill] 13/6/2011 21:10

This is old news but the last bit is relevant ...


The Company's issued ordinary share capital will consist of 104,624,266 Ordinary Shares with voting rights. PetroLatina does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

Mr Rodriguez is interested in 12,861,629 Ordinary Shares representing approximately 12.29 per cent of the Company's issued share capital. This holding includes 2,535,872 Ordinary Shares held by Lyan Financial Corporation and, 10,080,757 Ordinary Shares held by Rorick Ventures Group Inc, companies in which members of Mr Rodriguez's family have beneficial interests.

Mr Rodriguez also holds options over a further 1,000,000 Ordinary Shares and has a beneficial interest in Athos Enterprises Limited which holds warrants over a further 160,000 Ordinary Shares. The options vest over a three year period from 16 October 2009, and are immediately exercisable, in whole or in part, up to the fifth anniversary of the date of grant, at an exercise price of 44.5 pence per Ordinary Share.


TOGI and its related companies hold, in aggregate, 59,415,781 Ordinary Shares, representing approximately 56.79 per cent of the Company's enlarged issued share capital and warrants over a further 690,644 Ordinary Shares which are automatically exercisable if, and to the extent that, any exercise of the Company's other existing outstanding 1,282,625 warrants occurs. In addition, TOGF currently holds an aggregate principal amount of US$6.29 million of convertible 12 per cent loan notes due in June 2011.

[rbcrbc] 10/6/2011 12:03

Methinks that Spyros enjoys his trips to Houston ;-), It's loose change to him.

[michaelsadvfn] 10/6/2011 09:56

Indeed I did.
I seem to remember you telling all and sundry they would be in Chapter 11 within weeks back in 2009. As you well know the Directors have put millions of their own cash into the Company for one or another reason. You tell me.

[ngms27] 10/6/2011 09:37

Didn't you buy FRR when it tanked?

Then it continued to tank and tank and tank...

[luminoso] 10/6/2011 09:34

Thanks for clarification, michaelsadvfn. Agree.

[michaelsadvfn] 10/6/2011 07:44

Luminoso,
I'm buying PELE. I bought VST when it tanked. There are similarities in the share price action and I'm convinced something is going on behind the scenes.

[hastyretreat] 09/6/2011 12:16

I fear RBCRBC you are right -PI's are being screwed here and I believe it always was the intention to take it private and make oodles for Tribeca. Just my opinion though, which I hope is wrong.

[luminoso] 09/6/2011 12:15

Also a restatement of old news on the RZA pipeline. No comment on current throughput in the pipeline, which although not obligatory in a set of results for 2010, is still an odd omission. Have repairs finished and been successful ?
Would normally feature in outlook statements, IMO.

[rbcrbc] 09/6/2011 12:05

I too see this weakness as a buying opportunity and have taken a small position again to let me into the AGM so that I can judge their faces when asked about " strategic alternatives ".

I also find it very interesting how little was said in the results about the prospects for Putumayo, this is potentially a company maker in a much more prolific area than the current/recent drilling, I suspect they want to take it private before the exploratory well mentioned briefly in the results.

[rizzzla] 09/6/2011 11:53

i think he meant hes buying the whole company ?

[luminoso] 09/6/2011 11:19

michaelsadvfn

can you just clarify your earlier comment. Are you buying PELE later today or VST ? In other words are you seeing the manipulation as a buying oportunity ? For the record, i do see it that way and have added since the results.

[pembury] 09/6/2011 09:55

Commodities especially small caps taken a hammering in last few months. PELE not the only one to have had a very poor run in 2011, look at the sector!.
Oil price still nr $100 so opportunity knocks perhaps?.

[michaelsadvfn] 09/6/2011 09:46

This stinks of manipulation and I believe RBCRBC has hit the nail on the head.

Take a look at the VST chart. Different company, different story, but undoubtedly manipulation taking place. I'll be buying some of these later today.

[cliley454] 09/6/2011 09:36

It is looking ripe for a takeover at this price. Hopefully a bit of good news will start the share price climbing.

Off topic take a look at CXM, market cap just £400k. They have posted a bullish update on their website which hasn't been released to the market yet. I've just posted it on the CXM bb.

[hastyretreat] 09/6/2011 09:30

RBC if we do get taken out then PI will have been had again!

[rbcrbc] 09/6/2011 08:59

Accordingly, we are currently in the process of reviewing and evaluating strategic alternatives for the further development of the Company with the objective of maximising shareholder value.

IMO this can only mean that the much speculated in the past take-out by tribeca will happen soon ?at 30p !!!!!

Current Mkt Cap £26m

NPV10 figure for the Group's 3P reserves of US$280.6 million

The recently completed updated reserves assessment by Ryder Scott revealed a slight reduction in 2P reserves to 5.9 million boe (30 November 2009: 6.09 million), but importantly attributed an NPV10 figure for these reserves of approximately some US$139 million (approximately GBP86 million) based upon an average oil price received in 2010 of US$79.43 per barrel and as adjusted to actual prices received for each property.

Maybe 90p would be fairer....

[topinfo] 09/6/2011 08:42

Mkt c@rp isnt it!

[rizzzla] 09/6/2011 08:14

sort of fighting a losing battle when they mark it down on buys

[rizzzla] 08/6/2011 18:23

800 BOPD plus 5.5 MMcfpf @ 50 % is around 450 boepd

and as you state pele are tiny at this share price so technically any company buying them would be bigger

[ngms27] 08/6/2011 18:04

PELE are tiny so won't attract the big players!

[rizzzla] 08/6/2011 17:52

daft share price imho not sure about 1.66 but it looks ripe for a big player to take it out cheap at this price

[don777] 08/6/2011 17:43

Luc mentioned before there are many companies interested on PELE. they turned down an un formal offer of 74-75 P last year already.