Riverfort Global Opportu... Share Discussion Threads

[seaclipper] 29/2/2012 18:17

This is interesting news.

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Range Energy to acquire Blackstairs Energy

2012-02-28 17:56 ET - News Release



Mr. Toufic Chahine reports

CORPORATE UPDATE

Range Energy Resources Inc. or its affiliate nominee is interested in pursuing a strategic equity investment transaction with Blackstairs Energy PLC. The provisions of the letter of intent (the "Letter of Intent") constitute an expression of interest only and are not intended to be a legally binding and enforceable offer on the part of either the Company or Blackstairs.

Subject to the conditions set forth in the Letter of Intent, the satisfactory completion by the Company of its due diligence review of Blackstairs and entering into a definitive agreement, the Company proposes to purchase 100% of Blackstairs' issued share capital.

The Letter of Intent does not constitute a binding agreement between the parties regarding the Proposed Transaction, and neither of the parties or any affiliate, officer, director, employee, financial advisor, agent or other representative of any party will have any liability based on the Letter of Intent as a result of any failure to agree on or enter into the Proposed Transaction.

The Letter of Intent will be automatically terminated on the date that is the earliest to occur of:



the date of execution of a definitive agreement; the date on which the Company, at its sole discretion prior to the date of execution of a definitive agreement, notifies Blackstairs in writing that it wishes to terminate the Letter of Intent; or March 30, 2012.

The Company also wishes to announce that it has granted incentive stock options to a director to purchase an aggregate 2,000,000 shares of the Company at a per share exercise price of
.20 for a term of five years (subject to earlier termination in accordance with the terms of the Company's Stock Option Incentive Plan). The options were granted to a director of the Company based on the terms of a previous oral arrangement with the prior management.

[ltinvestor] 28/2/2012 08:03

Since Neale Graham (the founder) took over at the helm less than a year ago the business has undergone major restructuring culminating in yesterdays announcement.Selling loss making overseas business, yet retaining a US interest including the Microsoft alliance makes sound financial sense.Going forward the company has a clear strategy and for that reason it will stay on my watchlist!

[stegrego] 27/2/2012 21:40

Lost cause IMO

[glasshalfull] 27/2/2012 21:25

Only tuppence off on a profit warning !!!

"Due to the strategic restructuring programme, which included the termination of sub-scale UK operations and legacy business lines, and the continuing challenging trading environment, the Group's profitability for H1 to 29 February 2012 is now expected to be below the Board's original expectations."

Yet again RGO have failed to deliver. They invested a considerable sum and hung their hats on International development and have also slashed that in one fell swoop today. Amazing.

Good luck holders.

Regards,
GHF

[fastbuck] 27/2/2012 21:11

So sold or given away everything, Americas & Indian operation just leaves EMEA so pretty much just the UK then - is that right?

Its pretty tough out there in the UK at the moment if your tring to sell into new areas as much of their legacy stuff has been shut down by PPP. I fear RGO is going to struggle alittle more before it sees any financial success.

DYOR - no longer a holder

[21richyrich] 27/2/2012 19:04

27 February 2012

2ergo Group plc

Sale of international operations for $3.8m

Introduction

2ergo Group plc (AIM: RGO, "2ergo" or "the Group"), the mobile solutions company, has sold its three international businesses for $3.8m as part of a strategic restructuring programme initiated last year.

Details of the Disposals

To fulfil a major part of the Group's strategy, on Friday 24 February 2012 2ergo sold 2ergo Americas Inc, which represented its non-core North and Latin American operations, to Nasdaq-listed SoundBite Communications Inc ("SoundBite", NASDAQ: SDBT). SoundBite now becomes a key partner of the Group in the US.

Consideration for the disposal was $3.8m in cash, of which $3m was paid on completion. The balance will be held in escrow to settle any warranty claims arising and is expected to be released over a two year period. In the year to 31 August 2011, the loss before tax of 2ergo Americas Inc was $0.7m.

Importantly, the Group has retained 2ergo Inc. in the US which operates 2ergo's strategic partnership with Microsoft's Innovation Outreach Programme. This business is performing well and delivering important contract wins from, for example, Wendy's Restaurants and 3M. The Group views such regional partnerships as central to its geographical sales strategy going forward.

The Group has also sold its Australian operations to Gomeeki Pty Limited, one of its key partners in the country, and its Indian operations to the Indian management, whilst retaining important technology and IP. The latter transaction also completed on Friday 24 February and the former completed today. Consideration for these two disposals was nominal.

Outlook

Due to the strategic restructuring programme, which included the termination of sub-scale UK operations and legacy business lines, and the continuing challenging trading environment, the Group's profitability for H1 to 29 February 2012 is now expected to be below the Board's original expectations. However, the restructuring leaves the Group more focused than ever before and the disposals are expected to reduce the Group's operating costs by approximately GBP250,000 per month. The Group's excellent sales pipeline remains in place, although deals continue to take longer than usual to close due to the current economic climate.

The proceeds of the sales will be invested in accelerating the roll-out of podifi, 2ergo's new patented contactless mobile coupon and payment redemption technology launched today during the Mobile World Congress (see separate announcement).

podifi is the culmination of 12 years' experience in delivering customer acquisition technology for clients including Orange Wednesdays, reputed to be the world's most successful mobile loyalty programme. podifi will become one of the Group's core market propositions.

Neale Graham, CEO of 2ergo, said:

"As part of the review accompanying our restructuring programme, we concluded that our overseas operations were sub-scale and not in line with the Group's core strategy. As a result, we have taken advantage of attractive opportunities to dispose of these operations whilst maintaining market presence through high quality partners such as our new partner SoundBite.

"Although the strategic restructuring has been a distraction for the management, we are now a focused operation and in an excellent position to capitalise on the numerous opportunities we are seeing in our core business and especially the potential of podifi, our ground breaking contactless mobile coupon and payment technology. We look forward to announcing the progress of podifi in due course."

This announcement is being timed to coincide with an equivalent announcement being released by SoundBite in the United States.

Enquiries:

[21richyrich] 27/2/2012 19:03

27 February 2012

2ergo Group plc

Launch of podifi retail solution during MWC

2ergo Group plc (AIM: RGO, "2ergo" or "the Group"), the mobile solutions company, has today launched "podifi", its new contactless mobile technology.

Based around small, low-cost pods, podifi offers retailers the ability to build intimate customer relationships by enabling fast, contactless transactions via any smartphone, simply by tapping the phone on the pod. This means that mobile coupons and vouchers can be redeemed, mobile loyalty cards can be swiped and mobile payments transacted, without the intervention of sales staff in store.

Significantly, podifi makes use of standard technology already used in smartphones, and requires no additional handset chip or hardware (such as barcode readers or PIN machines) or staff training. Pods placed discreetly at the point of sale can transact contactless mobile payments and act as redemption points to redeem mobile coupons or loyalty cards in real time without any upgrade required to the retailer EPOS system.

Through 2ergo's unique contactless technology podifi can be easily incorporated into any mobile "app" or mobile website within hours. The technology is compatible with all currently available smartphones and has been designed to interact seamlessly with near field communications (NFC) handsets if or when they are made available.

podifi also incorporates proximity technology, delivering personalised in-store communications and issuance of location-relevant offers and promotions. For example, pods placed at the entrance to the store can be used for consumer check in services, whilst pods positioned on shelves in specific aisles, can deliver offers specific to the products in that part of the store. The same location sensitive technology also allows customers to be tracked around the store to create in-store heat-maps providing an invaluable insight into customer behaviour.

podifi is the culmination of 12 years experience in delivering customer acquisition technology for clients including Orange Wednesdays, reputed to be the world's most successful mobile loyalty programme.

Neale Graham, CEO of 2ergo, said:

"Retailers are increasingly looking to engage customers on a multi-channel basis, with mobile coupons and vouchers being increasingly used to generate footfall and build customer loyalty.

"However, one of the key challenges that has prevented the mass adoption of retail mobile solutions has been closing the loop at the point of sale by enabling mobile coupons to be easily redeemed, mobile loyalty cards to be swiped and mobile payments to be transacted. Up until now there has been no ubiquitous solution, some small vertical solutions have been trialled and launched but they tended to be cumbersome, creating a negative user experience, and expensive, requiring significant upfront investment in handset upgrades and difficult EPOS integration.

"podifi has been created specifically to solve this problem. We believe it is a real game changer. It overcomes all of these problems in one easy to deploy solution, enabling retailers of all sizes to conduct mobile couponing campaigns with ease. It delivers today what NFC has been promising for years and will continue to deliver the same user experience when and if NFC compliant handsets are rolled out on a large scale.

"We have completed extensive customer trials and the response has surpassed our expectations. We look forward to driving the business forward with this solution, both in the UK and internationally through our growing partner network and are delighted to announce a major strategic alliance for the product in the US with SoundBite."

Enquiries:

[seaclipper] 21/2/2012 17:11

Thats it then guys, the shutters have come down and the shop is closed, well to us that is, seems Cads only ! cannot buy these via TD anymore but u can still sell if u wish to but not for me - holding for the drill to hit dirt and the TSX listing, decent wedge here and very pleased to be a holder for LT.

[roily] 16/2/2012 18:15

RGO and green, not sure what that looks like but I'm getting close.

[jonno1] 16/2/2012 14:28

I don't but my holding is currently green...at last

[roily] 16/2/2012 13:50

I see someone liked RGO yesterday. Wonder whats up?

[christmasturkey] 11/2/2012 08:54

After Longford cheap buy out, bit of a cloud forming over these small inert companies. They can hide their intentions from shareholders but they cannot hide from the KRG government or any big hitters that may want them for a penny. Writing is on the wall for those companies who are not pulling their weight. Only buy in on solid news of drilling program and be careful how they spin their yarn!

[roily] 09/2/2012 13:45

I will have to look again as I did not see much action yesterday.

[seaclipper] 09/2/2012 08:52

roily - peeps seem to have some thoughts as a few buying on the news yesterdy, looks a good area to be in, thinking of getting a few more RGO.

[roily] 08/2/2012 18:57

Anyone have and thoughts/insight on RGO's new neighbor Total.

[21richyrich] 07/2/2012 19:10

Very quiet here but worth a comment just to get the thread back at the top above the Range Resources thread??? wtf has that to do with RGO? Any ideas how to get rid of it?

[seaclipper] 31/1/2012 22:35

roily - cheers, one good thing i can see straight away is that the first drill site is not located at the top of a mountain( pic 12) as was the case with VST, first hole to spud soon then c`mon.

[roily] 31/1/2012 14:36

I have not read it yet but here it is.

[roily] 30/1/2012 19:22

Not sure what happened to new presentation as I was told it would be released last week.

I can tell you that no US PI's are buying as this has not sold on the Pinks since November. Not sure what the US II interest has been like.

[seaclipper] 27/1/2012 20:31

Yes peeps buying .

News very close imop, perhaps TSX listing, seismic reports - well i have this gut feeling that report is being held back for a good reason , could it be so good that they do not wish to advertise that fact for feare of a shoot out with the big players noozing in before the spud even hits dirt, block is in a very good location close to Genel operations.

[jonno1] 27/1/2012 18:33

nearly 5m traded in Canada

[roily] 18/1/2012 16:24

I was just told via email that the new Corp Presentation will be out next week. Hopefully it answers many of the outstanding questions.

[seaclipper] 18/1/2012 08:48

The news is now on the RGO site.

What would you think this is all about then.

"The company is reviewing all other opportunities "in the area," but no agreements have been reached with any parties."

[seaclipper] 17/1/2012 17:56

roily - ok you have the info, but where IS the seismic report ? should have been out about last June, perhaps RGO do not wish to advertise to others that the report shows massive potential for the block and who can blame them with all this consolidation going on, however in spite of the lack of info to us the market at the mo clearly likes the info it has and that will do for me, imop this block is in a good location but will RGO ever get to drill it - i hope they will.

[roily] 17/1/2012 12:31

OK, found it at SEDAR.