Quarto Share Discussion Threads

[joepublic1] 17/5/2018 20:23

Thank you. Do you think we can expect some further statement from the company regarding the extraordinary director changes and whether this now implies a new strategy or change of CEO ?

[theflyingbookmaker] 17/5/2018 15:49

Quarto is a Delaware-registered company and therefore not subject to the Takeover Code.

[joepublic1] 17/5/2018 15:38

Well yes spot on. I am wondering what exactly this shenanigins today means for the PI. It seems like Orbach and Lau probably now have effective control of the company. I can’t help but wonder whether this sort of behaviour is correct wrt to other shareholders. I understand there are normally regulations requiring a shareholder over a certain % to make a formal bid. It feels like Orbach may perhaps have circumvented this requirement by acting in concert with other shareholders. Is it as simple as this to avoid the rules ?

[theflyingbookmaker] 18/4/2018 10:45

Laurence Orbach, ousted chief exec, and his very good friend CK Lau now control some 50% of the company between them. I anticipate a very exciting AGM in May. Revenge is a dish. best eaten cold.

[joepublic1] 07/3/2018 08:16

Interesting post over on the LSE board.

[robin_lemer] 23/2/2018 15:26

All purchases over last three days are quite substantial, suggesting to me further increases in stake building

[robin_lemer] 09/2/2018 10:07

Getting even more interesting now Mr Lau increased his stake from 20-25.6%

[3800] 25/1/2018 11:58

the wizz kids who were going to show him how it was done certainly haven't done too well that's for sure.

[robin_lemer] 25/1/2018 09:00

Am amazed market makers have not marked the share price higher after the notification of the Orbach stake of 17% equating to purchase cost of approx £5m. He was the CEO and was kicked out in 2013. Interesting developments ahead.

[batham1] 09/11/2017 12:55

Just re-read John Lee's article from May this year including feature on Quarto...6 months is certainly a long time in this game!

[boom boom bang bang] 18/10/2017 07:10

Independent Oil & Gas PLC LOI signed with Key Contractor ODE

18/10/2017 7:00am
UK Regulatory (RNS & others)

Independent O&G (LSE:IOG)
Intraday Stock Chart
Today : Wednesday 18 October 2017

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TIDMIOG

RNS Number : 8810T

Independent Oil & Gas PLC

18 October 2017

18 October 2017

Independent Oil and Gas plc

LOI signed with Key Contractor ODE

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce that it has signed a Letter of Intent ("LOI") with Offshore Design Engineering Limited ("ODE") to perform several key contractor roles for its Blythe Hub and Vulcan Satellites Hub development ("the Project"), starting with technical and operational support ahead of Final Investment Decision ("FID").

Highlights:

-- ODE to provide extensive technical and operational support to IOG in both pre- and post-FID stages to deliver the Project into production

-- ODE to be the Operations & Maintenance service provider
-- Pre-FID costs to be fully deferred and pre-First Gas costs to be 50% deferred until first gas, thereby reducing IOG's funding requirements

-- LOI further strengthens IOG commercial model with ODE as a key contractor incentivised to deliver first-rate performance

ODE will be responsible for the operational management of all IOG's assets and for the Thames Pipeline and network of in-field pipelines, with IOG continuing to be 100% Licence Owner and Operator for all assets in the Project. It is also intended that ODE will be the Operations and Maintenance contractor upon first gas, hosting IOG's onshore operational base at its facilities in Great Yarmouth, close to the Bacton terminal. The pre-FID technical and operational support work is due to start immediately while contract terms are being finalised.

Mark Routh, CEO and Interim Chairman of IOG commented:

"We are very pleased to be working with ODE who will be a trusted partner in IOG's Blythe Hub and Vulcans Satellites Hub development. ODE has a wealth of relevant experience and manages several fields for other Operators in the Southern Gas Basin of the UK North Sea, so we will benefit from synergies with their existing operations. In line with our commercial model, the cost deferrals also tangibly improve IOG's funding position both before and after FID.

This LOI reflects the team's continued strong progress with the IOG gas portfolio. We look forward to finalising the contract with ODE and agreeing similar terms with other key contractors to continue delivering our gas hub strategy."

ENDS-

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

Independent Oil & Gas PLC CPR Confirms Significant Reserves Upgrade

12/10/2017 7:00am
UK Regulatory (RNS & others)

Independent O&G (LSE:IOG)
Historical Stock Chart
1 Month : From Sep 2017 to Oct 2017

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TIDMIOG

RNS Number : 3782T

Independent Oil & Gas PLC

12 October 2017

12 October 2017

Independent Oil and Gas plc

CPR Confirms Significant Reserves Upgrade

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce the results of a Competent Person's Report ("CPR") on the Vulcan Satellites, Blythe and Elgood assets by ERC Equipoise Limited ("ERCE") as at 1 October 2017.

Highlights:

-- CPR confirms 2P gas Reserves of 303 BCF (54 MMBoe), previously 34 BCF, in IOG's UK Southern North Sea ("SNS") gas portfolio

-- 2P Reserves classification applied to all of IOG's development assets: the Vulcan Satellites, Blythe and Elgood

o Vulcan Satellites 2P Reserves of 248 BCF

o Blythe 2P Reserves of 33 BCF, in line with 2013 CPR

o Elgood 2P Reserves of 22 BCF

-- CPR estimates a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d)
-- Significant prospective resources in Harvey to be published in a forthcoming separate CPR
CPR Process:

During 2017, IOG built its own proprietary static geological model based on interpretation of the reprocessed 3D seismic available from multiple surveys across the whole SNS portfolio. This resulted in a robust and consistent estimation of the gas in place volumes in all the Company's SNS gas assets. This was followed by dynamic reservoir modelling and optimal well design and placement, including hydraulic stimulation modelling for the Vulcan Satellite fields. This in turn enabled the development of production forecasts for each field. ERCE reviewed IOG's proprietary subsurface work, production forecasts, costs and economic assumptions. ERCE then made its own independent assessment of the recoverable Reserves from the portfolio, the project development and operating costs and the resultant economics as summarised below.

The CPR presents the economic Reserves and valuation of IOG's five development fields as at 1 October 2017 using data and information available up to 30 September 2017 and applying the PRMS standard. The table below shows the CPR estimates of Reserves and Net Present Values, both undiscounted and discounted at 10% ("NPV(10) ") for IOG's 100% interests in the fields.






NEWS DUE IN THE NEXT FEW DAYS, LAST UPGRADE SHARES WENT UP 100% LAST WEEK


n addition, we shortly expect to receive a further CPR on the Harvey structure which provides very material upside to our portfolio."

[stocktastic] 18/10/2017 02:49

Any coincidence with Liontrust???

'Lion Rock Group is formerly called the 1010 Printing Group Limited'

[stocktastic] 18/10/2017 02:43

Cwa unclear if Chuk Kin Lau wanted to buy stock or if Liontrust wanted to sell.

Chuk Kin Lau may have been the bidder it would seem?

[stocktastic] 18/10/2017 02:39

Interesting

[cwa1] 17/10/2017 20:59

And a whopping NED share purchase announced :-)

[cwa1] 11/10/2017 15:48

Hmmmmmm. Now that does look like a potentially interesting development!

[gnnmartin] 11/10/2017 14:27

Chuk Kin Lau of Hong Kong has now got 20m shares (7.3%, up from <3%). From Google: "Mr. Chuk Kin Lau serves as a Compliance Officer at 1010 Printing Group Limited. Mr. Lau is responsible for the overall strategic formulation of 1010 Printing Group printing business since 2005." and "Mr. Chuk Kin Lau is on the Board of Directors at OPUS Group Ltd., 1010 Printing Group Ltd., City Apex Ltd., ER2 Holdings Ltd. and International Resources Group Ltd. Mr. Lau was previously employed as Executive Chairman & Compliance Officer by Cinderella Media Group Ltd.

[topvest] 16/8/2017 15:06

Just had another look at the interims. They were truly awful. Balance sheet is insolvent. If you were cynical, you would say it was convenient to announce the possible bid to keep the share price up. They do need a very good Autumn and Xmas trading period. This is not investible to me given the balance sheet. Wonder if Bloomsbury Publishing were interested?

[stocktastic] 16/8/2017 14:30

I suspect that some party thought this might be an opportunity to snap this up, but when they looked further at the longer-term prospects, felt it wasn't worth the risk.

With the debt pile, one bad Xmas and they're in a bit of a pickle!

[topvest] 16/8/2017 14:29

Looks to me like they need to have a good H2 to avoid covenant problems. All hands to the pumps. Looks problematic to me.