Wessex Share Discussion Threads

[digger27] 15/5/2014 11:59

Not long before the meeting now. Let's hope us PI's have something to cheer before the day is out !!!

[dave444] 13/5/2014 16:30

Just shows you how clueless this BoD are!

[smalltimeinvestor] 13/5/2014 16:27

The LSE webchat for WSX is pretty busy today. Interesting few comments on Guyane.

[smalltimeinvestor] 13/5/2014 15:56

Obviously the market does not like the terms of current management's proposed "transformational transaction". Share price down 40% from when it was announced yesterday.

[energiser01] 12/5/2014 17:08

Uhm - seem to also remember these Coastal boys turned down a bid in 2012 for $23 dollars (canadian), only to then accept a merger/bid around $19/20 dollars 12 / 18 months later and after a lot of good drill results. Sure there was more to it, but who knows......I'm sure its all on google somewhere.....

dyor etc..

[smalltimeinvestor] 12/5/2014 16:36

Google is full of bad news about the license at the center of this proposed "transformational" transaction. Apparently the operator(Nido Petroleum) has been trying to sell their 42% interest in this license since 2012. They thought they had sold it and 4 other licenses for $2.75 million but the sale fell through earlier this year. If the operator is trying to sell this asset what possible value is it to us? There obviously won't be any exploration in the near-term as the license in their words does not fit in to their business which is oil exploration and production. I thought that was our business too!

[oilretire] 12/5/2014 16:11

Think it needs to go Milroys way......

And if AC is still keen, he can sit down and talk with the new board.

[dave444] 12/5/2014 16:04

Key quote the said interest have failed to get someone to farmin for years!

[weegeordie] 12/5/2014 15:44

If it's such a transformational deal why don't the incumbents do it themselves?

[solarno lopez] 12/5/2014 15:43

Hence my reason for giving support to Milroy..

[oilretire] 12/5/2014 15:42

He talks some sense, especially -

The company needs to acquire lower risk producing assets, not another interest where capital expenditure is required to reach commercial production.....

[oilretire] 12/5/2014 15:35

Milroy fights back........

[oilretire] 12/5/2014 12:16

Thanks to markc over on the Fool.

SC54A history:

[duxy786_2] 12/5/2014 11:41

Pre mature exits. Will be adding later today

[oilretire] 12/5/2014 09:16

Ah ok, maybe I read this wrong but I did assume he would step down as the non-exec too at the next AGM - in December??

Malcolm Butler has agreed that he will step back from his role as Chairman and interim Technical Director to become a non-executive director and will not seek re-election as a Director at the next Annual General Meeting.

[mylands] 12/5/2014 09:04

The market reaction to the RNS tells a story. As they say it's better to travel than arrive!

[ihavenoclue] 12/5/2014 08:33

Such a shame they showed their hand so early in the week.

[oldtown] 12/5/2014 08:25

lols you're ahead of me ;-)