Regal Petroleum Share Discussion Threads

[j drama] 26/9/2013 00:31

Someone picked up another 500K.

[rougepierre] 25/9/2013 15:55

No brainer...just waded in...

[j drama] 25/9/2013 04:08

'Russia's A1 inks deal to buy 24.43% in UK's Regal Petroleum
MOSCOW, Sep 23 (PRIME) -- Russian investment company A1, a unit of Alfa Group, has signed an agreement to buy 24.43% in British oil and gas company Regal Petroleum from CIS Natural Resourses Fund with an option to increase the stake in the future, A1 said in a statement Monday.

The value of the deal was not provided.'

There may be a 'lost in translation' there but it indicates to me that A1 have left Curzon with their 4% but have an option to buy them out (at a higher price?) in the future.

[vivgav] 24/9/2013 16:09

Wild shakes for stock

[ryan83] 24/9/2013 15:36

some large swings going on. Delayed trades later?

[j drama] 24/9/2013 13:15

Not unless they buy 30%, which they won't, and trigger an automatic offer for the remainder of the company shares.

[ryan83] 24/9/2013 13:08

I tend to agree. Are Alfa required to say how much they paid once the 'manouvering' has been completed?

[j drama] 24/9/2013 13:01

Yes Energees offer price was 38p, price rose to around 57p post deal then....
Curzon IMO would have wanted around or more than 38p for their stake but who knows with how things have gone recently.

[j drama] 24/9/2013 12:58

Ryan
Probably right re split but I very much doubt that there isn't a premium to the current share price in the deal. Curzon will have paid much more than the current share price

[ryan83] 24/9/2013 12:56

Thanks JD.

Didn't Energees buy the RPT holding at 38p??

All very strange!

[j drama] 24/9/2013 12:53

The original repor from last year.

MOSCOW. Dec 14 (Interfax) - The Alfa-Group, which is selling its stake in TNK-BP (RTS: TNBP) to Rosneft (RTS: ROSN), is not quitting the oil market: its investment arm A1 is preparing to buy almost 30% of Britain's Regal Petroleum, which has assets in Ukraine.

CIS Natural Resources Fund, which is managed by Curzon Alternative Investments, is selling the stake to Kimron Ltd or another firm controlled by A1, according to a memorandum, seen by Interfax.

Mikhail Khabarov, the president of А1, told Interfax the deal was in the making. "We plan to close it soon, perhaps by the end of the year," he said.

A1 invests in assets that have been undervalued due to various risks. Regal is one such company, and quality management in the interests of all shareholders will boost its capitalization, Khabarov said.

A stake consisting of 89,854,875 shares in Regal would cost 21.3 million pounds at current market prices. The A1 president did not say whether the deal would be done at a premium.

The controlling stake in Regal is owned by a firm belonging to Vadym Novynsky's Energees Management. The CIS Natural Resources fund bought 16% of the shares in December 2011 and a few days ago reported that it had increased its stake to 28%.

А1 has not yet discussed its plans with Regal's core shareholder, but plans to do so, Khabarov said.

Regal has already had an Alfa-Group member among its shareholders, but for only a week: Alfa Capital Holdings, which is part of Alfa Banking Group, bought 9.92% of Regal in September last year and sold it at the beginning of October.

Khabarov did not say whether the short stint as a shareholder had anything to do with Alfa-Group's commitments in the framework of TNK-BP, but he did say that A1 itself had never owned shares in Regal.

He also said that now that restrictions on Alfa-Group members investing in the oil and gas sector were being lifted in connection with the sale of the AAR consortium's stake in TNK-BP, A1 would be looking closely at the opportunities on the market.

Regal Petroleum had revenue of $22 million and net profit of $6.75 million in H1 2012. It produced an average daily 214,470 cubic meters of gas.

Regal resumed production at Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas condensate fields in Ukraine in August 2011. Earlier, the Kyiv District Administrative Court lifted a Natural Resources Ministry ban on the development of Regal's fields, thus putting an end to litigation that had dragged on since March 2010. Regal's share price fell considerably during the litigation, and a controlling stake was acquired by Novynsky's Energees Management.

Novynsky's Smart Holding, at the start of 2012 announced plans to double gas production within 18 months by drilling of two new wells and boosting productivity at three existing wells. Regal also plans to modernize gas compressor and gas treatment equipment, and install equipment to produce LPG.

Pr

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[j drama] 24/9/2013 12:44

Ryan
Unlikely otherwise the Curzon reduction would have been more than the A1 buy, there's been a seller in the market for 2 or 3 weeks now.
Plus I think Curzon have decided to hold onto 4% to see the upside of having A1 on board. The reports last year suggested they were going to sell all their holding to A1 but now it's only 24.4%.

[mister md] 24/9/2013 12:36

well the RNS relates to transaction on (fri) 20th so maybe the rest took place yesterday ?

[buy and hold] 24/9/2013 12:13

JD
As seen , according A1 President Mikhail Khabarov's talk , all 24.4 percent is from Curzon.
So in hands of Curzon are remaining another 4.25%.
Pope no has any transaction and remains with 8%.
The question is why ,they don't make announcement(rns)for the rest of 17,4% ,because the operation (aqcuaring)should have been happened in the same moment AND WHY YESTERDAY's RNS reffers to only a piece of the total transaction?

[jam2day] 24/9/2013 12:11

IMO no these are frustrated pi's not prepared to wait for an upside (results of fraccing) Alfa are big hitters and have not bought 24% to watch their investment slide - things will start to happen.

[ryan83] 24/9/2013 11:37

JD if CIS are selling out 28% and AFLA are buying 24% that leaves 4% on sale - could this explain the selling / overhang?

[j drama] 24/9/2013 11:09

Well whatever's going on with Alfa someone is still selling into the market.

[j drama] 24/9/2013 10:21

No that's why I posted expect further RNS.
A1 can only have bought the remaining 17% from 3 places.
From Energees (unlikely), Curzon (most likely considering they had a MOU last year) or Pope plus Curzon / Energees.

The RNS refer to the 20th Sep, before the statement made yesterday.

[thejesusofshares] 24/9/2013 10:16

Yes indeed it does like i said in post13940, but it does not show A1 buying 24% does it, it just shows curzon selling 7% and the 1st one shows A1 buying 7%.
Maybe we both mean the same thing but missunderstood?

[j drama] 24/9/2013 10:10

Curzon has gone from 28.65% to 21.35%, that's a reduction of 7.3 or 23.4m shares.
The same amount that A1 bought!

[thejesusofshares] 24/9/2013 10:03

The 1st RNS as per my reading shows Crosson Overseas Limited ( A1) buying 7%, the 2nd rns shows Curzon reducing by 5%. What are you reading J drama?

[j drama] 24/9/2013 09:50

The first RNS (16.22) shows A1 buying 23.4m shares & the second RNS (17.36) Curzon selling 23.4m shares.
These two transactions were done 'off market', Curzon sold to A1.
Expect further RNS showing A1 taking their stake to 24.4% presumably all coming from Curzon unless they bought out Pope.