Uk Oil & Gas Share Discussion Threads

[beebong1] 04/8/2016 07:51

Are we on a double bottom, triple bottom or in the case of some a spread triple bottom breakdown. Think I shall probably wait for the ascending triple top breakout.

[moneymunch] 03/8/2016 20:26

ps Oil's on the bounce.....Ukog's turn sooner or later. ;-)

[moneymunch] 03/8/2016 20:19

Well done TU, and not too sure that it matters how many shares they have if you've just trebled your investment.....and i hope you're topping up here with some of the profit at this bargain low. Gl ;-)

[theuniversal] 03/8/2016 19:49

Well ive topped slice my share of mpet today. Have a free carry and trippled my original investmemt... the only anoying thing is their will be 122 million shares raised/given for the merger... between mpet and tellurion

[moneymunch] 03/8/2016 19:34

Mpet's 35% interest at HH now appears to be insignificant to its shareholders. I reckon Ukog are going to get a big chunk at a bargain price reflective of Ukog's current value....Watch this space!!! Gla holders ;-)

Martin Houston, co-founder of Tellurian, said, “Our experienced team leading Driftwood LNG, a 26-millon tonnes liquefaction project in Louisiana, and our deep relationship with Bechtel and its sub-contractors, GE and Chart Industries, are key factors that we believe will drive the successful development of one of the most cost-competitive LNG projects globally. With this transaction, we will be able to access more attractive financing in order to develop Driftwood LNG, which should come on stream in 2022, just as the markets for new LNG open up.”

[beebong1] 03/8/2016 16:32

MPET price rise.
Let me think. Does that increase the value of 35% HH for MPET or decrease it?
That 1.21 trade was a killer but it's getting close to the recent low trades.

1 week 1.35 1.18
4 weeks 1.55 1.18
12 weeks 1.98 1.15
1 year 3.33 0.86

[moneymunch] 03/8/2016 16:20

Pmsl....yeah right, you complete and utter snide numptie!!!

ps isriskythat, and probably the best outcome for Ukog if they want some of their 35%....and when you're ready mikey.....gl ;-)

[funkmasterp12] 03/8/2016 16:15

Down heavily. Possibly because of all this MPET nonsense which has, despite certain peoples' (including mine) pleadings, potentially drawn in PIs who may now be selling.

That is what happens when you try and ramp irresponsibly.

[itsriskythat] 03/8/2016 15:48

Best possible outcome for Magellan

Magellan Announces Strategic Merger and Enters the LNG Business

Download PDF
TELLURIAN CO-FOUNDERS CHARIF SOUKI TO BECOME CHAIRMAN, MARTIN HOUSTON PRESIDENT
DENVER, CO -- (Marketwired) -- 08/03/16 -- Magellan Petroleum Corporation (NASDAQ: MPET) ("Magellan") today announced that it has entered into a definitive merger agreement with Tellurian Investments Inc. ("Tellurian"), a recently formed private company focused on the development of a mid-scale liquefied natural gas ("LNG") facility on the U.S. Gulf Coast. Tellurian is led by Charif Souki, former founder, Chairman, and CEO of Cheniere Energy, Inc. and Martin Houston, former COO of BG Group plc.

J. Thomas Wilson, President and CEO of Magellan, commented, "This transaction concludes our strategic alternatives review process and we believe offers a unique opportunity for Magellan's shareholders to participate at an early stage in an investment potentially similar to Cheniere Energy's remarkable success, under the leadership of Charif Souki. He and Martin Houston are proven leaders in the LNG industry."

Martin Houston, co-founder of Tellurian, also commented, "Our experienced team leading Driftwood LNG, a 26-millon tonnes liquefaction project in Louisiana, and our deep relationship with Bechtel and its sub-contractors, GE and Chart Industries, are key factors that we believe will drive the successful development of one of the most cost-competitive LNG projects globally. With this transaction, we will be able to access more attractive financing in order to develop Driftwood LNG, which should come on stream in 2022, just as the markets for new LNG open up."

The board of directors of each company has unanimously approved the terms of the agreement and has recommended that its shareholders approve the transaction. Completion of the merger is subject to approval of the Magellan and Tellurian shareholders and certain regulatory approvals and customary conditions.

The transaction is expected to close in the fourth quarter of 2016. Upon closing, pursuant to the terms of the merger agreement, each share of Tellurian will be converted into the right to receive 1.30 shares of Magellan. Magellan will issue approximately 122 million shares of common stock to Tellurian shareholders, representing approximately 95% of Magellan's pro forma outstanding common stock.

[beebong1] 03/8/2016 14:56

LMFAO

www.google.co.uk/finance?q=NASDAQ%3AMPET&ei=0_ehV8KrMMK5U8aIgvAP

[mikeygit] 03/8/2016 14:32

Moneymunch---changing the subject from MPET, of which I know nothing---if it is of interest I am waiting on a friends information as to when the next round of Planning applications will be heard at WSCC. As soon as I have the info I will post here, and maybe you can let the lads/lassies know on LSE, where I cannot post!

[beebong1] 03/8/2016 14:19

I see 4 new PEDL's have been assigned from the 14th round. All IGas. No logic as to why they have done them 1st IMO. We will just have to wait and see.

[moneymunch] 03/8/2016 13:54

We shall see......:-)

[funkmasterp12] 03/8/2016 13:37

No, the current value is not affordable! It's £8.9m if you value it based on UKOG's acquisition of Flowermay's holding. I don't think they can even afford 1/5th of that without exacerbating the need for a placing.

[moneymunch] 03/8/2016 13:16

Lol well done funky, something we agree on.....Mpet's 35/% is up for grabs. The current value of the 35% makes it very affordable, commensurate to Ukog's current market value and the timing of the EWT....cash and shares could be an attractive proposition to Tellurian. Gla holders. Watch this space.....a masterstroke by SS if he was able to acquire the full 35% or a decent chunk. ;-)

[funkmasterp12] 03/8/2016 12:48

You were blathering on about UKOG reversing into MPET (technically impossible) to get a Nasdaq listing. We can now add that to the other things you've been wrong about.

And WTF does this even mean: "The newly formed Tellurian, now listed will no doubt be weighing up their options" - yes, they did that, and merged with Magellan.

I would imagine they'll want to offload assets they don't require such as MPET's HH share. But that doesn't change the fact UKOG can only afford a fraction of it - and given the share price didn't change on the recent acquisition, why would it change on another?

[funkmasterp12] 03/8/2016 12:27

It's yet another thing you've been wrong about that was obvious to anyone with a brain.

And thanks to UKOG's recent bit of "excellent" business, MPET's 35% share would now be valued at £8.9m.

I reckon UKOG have around £5m in cash and they'll need £300k per month to keep going. So in short, they can probably afford about 10% of MPET's holding and still delay the inevitable placing.

Can we please now put a stop to this MPET nonsense?

[moneymunch] 03/8/2016 12:14

Tellurian obviously wanted Mpet for US listing....Wether or not they want to hold on to the 35% interest at HH is another matter....more than likely they will be open to offers to fund their core business. Watch this space. Gla holders ;-)

[beebong1] 03/8/2016 12:13

I very much doubt it! Need something to ramp about!

[funkmasterp12] 03/8/2016 12:04

Boom!

J. Thomas Wilson, President and CEO of Magellan, commented, "This transaction concludes our strategic alternatives review process..."

That'll put a stop to some of this nonsense. Not that it was ever justified in the first place.

[beebong1] 03/8/2016 11:58

I'm guessing we will now have to listen to ??

U turn on placing?
What else can we ramp about?

Just in case you missed it!!!

Magellan Announces Strategic Merger and Enters the LNG Business

Download PDF
TELLURIAN CO-FOUNDERS CHARIF SOUKI TO BECOME CHAIRMAN, MARTIN HOUSTON PRESIDENT
DENVER, CO -- (Marketwired) -- 08/03/16 -- Magellan Petroleum Corporation (NASDAQ: MPET) ("Magellan") today announced that it has entered into a definitive merger agreement with Tellurian Investments Inc. ("Tellurian"), a recently formed private company focused on the development of a mid-scale liquefied natural gas ("LNG") facility on the U.S. Gulf Coast. Tellurian is led by Charif Souki, former founder, Chairman, and CEO of Cheniere Energy, Inc. and Martin Houston, former COO of BG Group plc.

J. Thomas Wilson, President and CEO of Magellan, commented, "This transaction concludes our strategic alternatives review process and we believe offers a unique opportunity for Magellan's shareholders to participate at an early stage in an investment potentially similar to Cheniere Energy's remarkable success, under the leadership of Charif Souki. He and Martin Houston are proven leaders in the LNG industry."

Martin Houston, co-founder of Tellurian, also commented, "Our experienced team leading Driftwood LNG, a 26-millon tonnes liquefaction project in Louisiana, and our deep relationship with Bechtel and its sub-contractors, GE and Chart Industries, are key factors that we believe will drive the successful development of one of the most cost-competitive LNG projects globally. With this transaction, we will be able to access more attractive financing in order to develop Driftwood LNG, which should come on stream in 2022, just as the markets for new LNG open up."

The board of directors of each company has unanimously approved the terms of the agreement and has recommended that its shareholders approve the transaction. Completion of the merger is subject to approval of the Magellan and Tellurian shareholders and certain regulatory approvals and customary conditions.

The transaction is expected to close in the fourth quarter of 2016. Upon closing, pursuant to the terms of the merger agreement, each share of Tellurian will be converted into the right to receive 1.30 shares of Magellan. Magellan will issue approximately 122 million shares of common stock to Tellurian shareholders, representing approximately 95% of Magellan's pro forma outstanding common stock.

Petrie Partners Securities, LLC acted as financial advisor to Magellan. Davis, Graham & Stubbs LLP acted as legal advisor to Magellan. Gray Reed & McGraw, P.C. acted as legal advisor to Tellurian.

[beebong1] 03/8/2016 10:47

The way the share price is going it will have done a moneymunch by mid August. How are IG?