Wellstream Share Discussion Threads

[jaws6] 27/7/2009 16:50

news info
NEW YORK, July 27 - GLG Partners, among the world's largest hedge-fund managers, is launching an oil production company that will be listed on the London Stock Exchange this fall, people familiar with the plans said on Monday.

GLG, based in London but listing its own stock in New York, intends to seed a venture called Lothian, that will be floated on the London Stock Exchange in September and then acquire oil production assets worldwide. Lothian would begin with a market value of about $500 million, said the sources, who were not authorized to speak for attribution because the venture is still in the planning phases.

Some investors have been briefed on Lothian. Merrill Lynch, a unit of Bank of America and JP Morgan Cazenove, part of JPMorgan Chase & Co are advising GLG.

Launching an operating company like Lothian represents a departure for GLG, which manages $18 billion in hedge funds and more traditional long-only investments. Like most money managers, GLG typically purchases small stakes in public companies.

By comparison, banks like Goldman Sachs and Morgan Stanley have pursued investments in energy, natural resources and financial services by acquiring all or most of operating companies. GLG is scrambling to recover from last year, when assets under management fell by more than half and many clients fled.

To lead the new venture, GLG is putting together a management team including industry veterans like Tom Hickey, former finance director of Tullow Oil, and John Kennedy, chairman of oil services group Wellstream Holdings , according to the Internet edition of British newspaper the Telegraph.

[msarwar014] 27/7/2009 10:33

yes ,sold the lot and moved into wcc

[finess] 27/7/2009 08:51

I have done just that, thank you.

[ceckyspunt] 26/7/2009 17:20

there has been a considerable recovery from 450p to the present 570p, and 600 approaches, but selling a percentage of your holding may be a good idea at the current sp, and if 600p is reached then selling perhaps half would work out well in the long run if the usual pattern is maintained...

[sjhanna2109] 24/7/2009 19:37

The consolidation in oil price should keep the trend upwards. A I have said before this share has always experienced large weekly and on many occassion daily rises and falls usually not based on news or even oil price. It is just the nature of the share. Hopefully the next next leg up will see us well into the £6 bracket.

[johnthespacer] 24/7/2009 08:25

600has been the highest point for quite a while and it has always hit 600 and then fell back - lets hope its different this time round

[eisler] 23/7/2009 18:50

Woosh! 600 coming into view, 650 by next Fri.

[fivepounds] 23/7/2009 17:13

niceone Gumberr your £6 prediction looks likely for tomorrow even.
Just need the Bid and we are cooking!! keep up the good posts.

[gumberr] 23/7/2009 15:06

yep good find although that was yesterday's news (22nd July 2009).
Expecting bid news hopefully or large contract win etc.

[henleytrader] 23/7/2009 14:52

nice find, thanks

[ohisay] 23/7/2009 14:07

We have Woosh at 2pm.

[henleytrader] 23/7/2009 14:06

Hmm.. somethings coming.. nice spike, has the deal been leaked!

[gumberr] 23/7/2009 09:20

Should see Six quid very quickly methinks!

[gumberr] 22/7/2009 20:06

I wouldn't be surprised with continuous buying now because of bid rumours and brokers targets well above current share price and with results on the way.

[gumberr] 22/7/2009 19:55

Thats why Black Rock I guess is accumulating because any bid approach hasn't been priced in and with results soon the divi should increase.

[sjhanna2109] 22/7/2009 19:34

nothing priced in here regarding any potentail takeover approach. We have been higher than current price at least 5 or 6 times over the last few months

[fivepounds] 22/7/2009 16:28

Either Black Rock accumulating more or Bid on the way!!!

[eisler] 22/7/2009 14:25

Bit of profit taking - expect the upward trend to resume shortly...

[henleytrader] 22/7/2009 07:32

DAILY EXPRESS

* Speculators continue to bet on a takeover approach for Wellstream.

[kito690] 21/7/2009 19:15

thanks henleytrader

[fivepounds] 21/7/2009 19:13

The Guardian must be the bidders then !

[mr.oz] 21/7/2009 18:08

£6 !! LOL

[ohisay] 21/7/2009 17:40

From the guardian today..

Another burst of takeover speculation emerged from the oil sector.
Meanwhile Wellstream has added another 10p to 530p as bid speculation refuses to die down, with traders mentioning a possible price of around 600p a share.