Re: Merger... develop or sell well this is the FOGL board...Noble was the operator for humpback..how did we go from $200 million to $5 million...
Re: Merger... develop or sell Sounds like you are mistaking fogl for rkh
Re: Merger... develop or sell question...how did noble spend all of FOGL money.....i though POST humpback...we were supposed to have $100 million......please respond...how we went from $200 million to $5 million
Re: Premier Oil According to PMO board it is believed to be around PMO acquiring Eon Assets:[link]
Re: Premier Oil It's now suspended with a possible reverse takeover in the background.I wonder if RKH are involved?
Premier Oil Down over 30% at 19p .... looks like our partner is in big trouble.I wonder how this is all going to play out?
Re: Price Difference I wouldn't be at all surprised if the percentage was close to zero (or even -ve) on the 15th. Not a great deal going in our favour at the moment (bar the obvious fantastic discovery). I'm pretty sure FOGL would have had their lawyers looking into every aspect. As usual it is us 'investors' who shoulder the biggest pain. After all it was only our collective money that made this all possible.Having been heavily invested in DES and now FOGL, I'm hoping for a 3rd time lucky!! I continue to hold in the hope it pays off in the end.Good luck all.
Re: Price Difference 8.29 * 0.2993 is 2.481p not 24.81p(It's the same mistake I made a while ago).Holders of FOGL shares will get 0.2993 shares of RKH for each share held.1 at 8.29p or 0.2993 at 28.25p are very similar.
Re: Price Difference Worked this out as follows8.29 x 2.993 = 24.81p. RKH trading at 28.25Diff = 3.44. 3.44 / 3 = 1.14 diff per FOGL share 1.14 / 8.29 = 13.89% as they stand now.On the merger that's the current gain per holding and if anyone new buys before close of trading on the 15th then they'll make around 10% profit straight away. Hence I thought the the price difference would have been closer than current trading.
Re: Price Difference It certainly feels that way. Although I can still see the benefit of the merged company (cash + assets is quite strong) it does feel like the 0.2993 ratio is now a bit of a kick in the teeth.How is oil in the ground valued? So obviously no accurate figures have been published about how much recoverable oil is believed to be found at Izzy but still sitting with a market cap of 42M seems a bit odd.Presumably sitting with a large amount of oil in the ground is a positive, although nowhere near as positive as having easily accessible oil in the ground or at least a positive plan for achieving first oil.The other thing that I wondered was the statement was about a commercial find, presumably at whatever oil prices were at the time. But as PMO is the farm in partner is it possible that the find is 'uncommercial' to THEM at the current POO?Just wondering if PMO is a bit of an obstacle.
Re: nobel Good morning Pond from a cool sunny Austin Texas,I am flabbergasted how unresponsive the share price was to the news and also management stating it is a commercial discovery. Of course drastic share price changes are unhelpful until merger has happened.OK this is AIM, BUT FOGL has burnt through a lot of money and today 533m shares at 8p still £50m market cap- if that announcement was made on first drill - market cap .... 5x... that's alot of shareholder value trashed and then it is the way the news comes out. Like a dirty little secret.Have the courts approved the merger?Almost as bad as our other favorite plastic technology company just extra 0's on the sums.You may assume I am not amused.A
Re: Price Difference It's not the current price disparity that annoy me! It's the 0.2993 calculation that pee me off - I think I've been robbed fwiw? FOGL were backed into a corner by incompetence and beaten with a stick! D.
Re: Price Difference Make sure you do the calc. right. (I messed this up recently and thought similar).FOGL now at 8.29p8.29/0.2993 = 27.7p equivalent for RKH.They are trading at 28.58p so only about 3% in it.
Price Difference Just done a quick rough calc and there's currently a 15% price difference on the shares in favour of RKH. You buy FOGL and on the 15th anyone will make 15% on the merger. Thought that the FOGL price would have been closer to a 0% gain.
Re: nobel Well said, axe127, if Fogl was on a US trading platform no doubt there would already be talks of a class action against Noble at least.