Rockrose Energy Share Discussion Threads

[mr roper] 04/12/2018 07:19

Nice news. Onwards and upwards

[mr roper] 03/12/2018 09:11

Next leg up

[basem1] 30/11/2018 09:46

And only £82m valuation at £6.50 with the new amount of shares in issue. I had a 5000 buy on the screen yesterday at 654, starting to wish I'd accepted it, was hoping to squeeze another 20p if I could. Need some sellers.....please

[homebrewruss] 30/11/2018 07:55

Rockrose mentioned on citywire:



'Mumford has a heavy weighting to energy, which accounts for a fifth of his Cavendish Opportunities fund and 13% of his Cavendish AIM fund.

He highlighted Rockrose Energy (RRE), his top holding in both funds, whose shares have rallied 70% over the last six months.

He said small cap oil explorers like this only have to ‘find a medium size oil discovery from an exploration programme’ in order to cover their market cap ‘several times over’.

He argued Rockrose, which buys late-stage assets that need decommissioning, was ‘severely undervalued’. Despite producing 11,000 barrels a day, and having similar reserves and production as Faroe Petroleum (FPM), Rockrose is valued at just £100 million while Faroe is the subject of a takeover approach from Denmark's DNO (DNO.OL) that values it at £600 million. Mumford bought the shares at 127p and they are worth 646p today.'

[costax1654x] 30/11/2018 07:42

News on A18 drill, Tain Dev and Ross & Blake field due soon amidst potential acquisitions!

[basem1] 28/11/2018 16:47

A healthy pullback, just what it needed. Hoping for a bit more weakness tomorrow so I can back the van up.

[dibbs] 27/11/2018 20:12

Totally agree with Mad Foetus that AA's percentage stake has simply gone up because of the cancellation of shares via the tender process.

I would suggest that AA is looking to see fair value achieved and his chosen route is aligned with us private investors. I don't think the plan is to take RRE private.

Assuming the tender drew out a couple of the institutional holders and not a raft of private investors then the free float percentage has increased. If AA had wanted to take it private he would have approached these large institutional holders as he'd want them onside.

Dibbs

[goodbloke1] 27/11/2018 08:47

If there are a number of parties interested in taking it private , they could offer a much higher price

[bigalan3] 27/11/2018 08:43

As the rerate continues (hopefully) then a buy out becomes less and less likely.
All he did was to use company funds to maintain his stake.

[jaspoland] 27/11/2018 08:34

If that is his intentions then he will pay what he believes he can get away with. Not his fault the market hasn't applied true value. Still worth adding around these prices. Interesting times ahead

[goodbloke1] 27/11/2018 08:27

Is the offer likely to be much higher than current share price?

[mad foetus] 27/11/2018 08:25

If he reaches 30% he needs to make an offer but needs 75% (from memory) to go private

[goodbloke1] 27/11/2018 08:24

Is he likely to offer a much higher price to shareholders take it private?

[goodbloke1] 27/11/2018 08:22

That's not good though is it going private? We won't realise the value as share holders?

[pol123] 27/11/2018 08:13

Yep, looks like we will be going private if the market does not realise true value. Master stroke by Andrew use company coffers to increase stake

We are now one step away from going private

[mad foetus] 27/11/2018 07:38

My reading is that he didn't tender and so his holding increased simply by virtue of 20% being redeemed. In other words, no change to the number of shares owned.

[costax1654x] 27/11/2018 07:36

Going private?

[mr roper] 27/11/2018 07:17

Andrew Austin up to 28%

[homebrewruss] 26/11/2018 20:15

pol123, see here for an interpretation on twitter:

[pol123] 26/11/2018 19:54

Food for thought..........hmmmm whats our valuation....

Today, Faroe Petroleum rejected an unsolicited offer for their company by DSO. In their rejection of the offer they said amongst other things that the bid

" is equivalent to US$6.8(3) per barrel of 2P reserves and US$3.2(3) per barrel of 2P reserves + 2C resources, which is substantially below the average price paid recently for comparable North Sea (in particular, Norwegian Continental Shelf) portfolios of US$12.1 per barrel of 2P reserves and US$9.5 per barrel of Total Resources respectively.

[paleje] 26/11/2018 16:08

RNS tomorrow? No idea of the truth or otherwise of marketmaker codes but a '1' share purchase is said to signify news lodged.

[costax1654x] 26/11/2018 14:31

A18 well Results soon!If we go above 7.5£ with the well results is a big chance for us to hit 10£!

[mad foetus] 26/11/2018 13:08

Yes, basic target price of 1431 but longer note suggests if they hit targets, could be double that. Which would be nice