oilinvestor85
26 Feb 2016
Re: NEW ARTICLE: The Oil Man: Pantheon, ... It just goes to show what Malky double Chin graham woods knows !!! 130p .. What a joke Sorry for those who have lost money here
Ripley94
26 Feb 2016
Re: NEW ARTICLE: The Oil Man: Pantheon, Prov... Only one month ago.
J0HNNIEIS
26 Feb 2016
Cayman islands It's about time both our govt and the EU stopped allowing any trade with crooks operating from the Cayman Islands. Trouble is many of our FT100 companies like to hide there. Eg Barclays. Meantime these awful people are permitted to fleece our companies and ourselves. Disgraceful
trickler
26 Feb 2016
It was only a matter of time.... ..until someone put us out of our misery.At least WV have been consistent in their view of the way in which this company has been run.I only have a small holding here but feel sorry for those who have invested heavily - one more oilie down the drain.tclr
aandeeltje
26 Feb 2016
Thanks PCI and WV Disgusting how both companies destroy shareholders.
ISpotCrap
26 Feb 2016
Re: shocking offer I'd rather I lost all than take a rubbish offer like that.I wonder how enthusiastic WV would be if current management offered them 4p for their shares.
Fordian
26 Feb 2016
the PCI reaction You have to ask - what happens next?No way this offer can be accepted but it will force the board into action. The company is owed over $100 mil USD by Egypt, plus could farm down its stake in the algerian development again. The WV offer would more likely prompt a competing offer to appear at such discount prices
Fordian
26 Feb 2016
shocking offer The fund that helped destroy the company hoovering up the assets. Outrageous IMOSUMMARY AND HIGHLIGHTS:· Sunny Hill Limited ("Sunny Hill"
, a company wholly owned by the Worldview Economic Recovery Fund (the "Economic Recovery Fund", is pleased to announce the terms of an all cash offer to be made by it for the entire issued and to be issued share capital of Petroceltic International plc ("Petroceltic" other than the Petroceltic Shares in the beneficial ownership or control of Worldview International Management Limited SEZC ("Worldview" and/or any of the Worldview Funds (as defined below).· Under the terms of the Offer, Petroceltic Shareholders will be entitled to receive:3 pence in cash for each Petroceltic Share· The Offer values the entire issued and to be issued share capital of Petroceltic at approximately £6.42 million.· The directors of Sunny Hill believe that the value of the equity in Petroceltic is close to zero, given the parlous financial position of the Company. However, as an incentive to Petroceltic Shareholders to accept the Offer, in order to allow Sunny Hill and Worldview to accelerate addressing the Company's indebtedness issues, Sunny Hill is prepared to offer 3 pence, in cash, per Petroceltic Share. The directors of Sunny Hill have a particular concern with regard to the Company's precarious, and worsening, financial position, particularly with regard to the form, structure and level of the Company's indebtedness to the Banking Syndicate and the stream of short term repayment waivers that the Company has had to seek from the Banking Syndicate to prevent Petroceltic defaulting on the Senior Bank Facility.· The Offer provides an opportunity for Petroceltic Shareholders to realise their investment in full and in cash. The Offer Price per Petroceltic Share represents a discount of approximately:· 83.3 per cent. to the Closing Price of 18.0 pence per Petroceltic Share on 25 February 2016, being the last trading day prior to the date of this announcement;· 73.9 per cent. to the Closing Price of 11.5 pence per Petroceltic Share on 21 January 2016, being the last trading day prior to the date of the Possible Offer Announcement; and· 89.4 per cent. to the Closing Price of 28.375 pence per Petroceltic Share on 22 December 2015, being the last trading day prior to the commencement of the Offer Period.· Sunny Hill is a private exempted company, incorporated in the Cayman Islands with limited liability, recently established specifically for the purposes of making the Offer, and wholly owned by the Economic Recovery Fund.· Worldview is a private investment management firm incorporated in the Cayman Islands which provides discretionary investment management and advisory services to certain funds (including the Economic Recovery Fund) and to other clients through managed accounts and has associated operations in the United Kingdom and the United States. Worldview's principal focus is the pursuit of a range of investment opportunities in central and Eastern Europe, South Eastern Europe, Russia and other FSU countries, central Asia and Africa, investing across a variety of asset classes.· As at the date of this announcement, Worldview, as discretionary manager of the Worldview Funds, controls approximately 29.6 per cent. of the existing issued share capital of Petroceltic.The Offer will be conducted by way of a contractual takeover offer and will be conditional, inter alia, upon the receipt by Sunny Hill of valid acceptances in respect of not less than 90 per cent. of the Petroceltic Shares Affected.Commenting on the Offer on behalf of Sunny Hill, Angelo Moskov, Director of Sunny Hill and CEO of Worldview, said:"Although Petroceltic's assets may, arguably, have long term potential, if both the right capital structure and management team were in place, in light of the current oil price and Petroceltic's si
Dictum de dicto
01 Feb 2016
Re: PCI in an auction? [link]
Dictum de dicto
01 Feb 2016
PCI in an auction? We know about Worldview and 'Tullow veterans' but I've also seen reference to PMI.It looks like quite a few are hoping to pick this up on the cheap.
barno99
31 Jan 2016
Re: WE GOT A BUYER???.... Me to.. If they could get a solid price for the Egyptian assets it would bode well for the future as algerias assets are massive.I am sure they will be taken out this week by someone with deep pockets.You don't offer £500 million one month and nothing a few months down the line.The fundamentals are solid just the debt need servicing fast.
tulleile
31 Jan 2016
Re: WE GOT A BUYER???.... Would rather they sell assets and require funding for Ain tsila.There is huge upside there if they can pull it off!
Damp Seaweed
31 Jan 2016
Re: WE GOT A BUYER???.... ''A group of former Tullow Oil directors is preparing a takeover bid for stricken Petroceltic's assets.''========== Note the headline ''Assets'' that is not the same as bidding for the company !!!But at least the company is in play, and that must be good for shareholders........IMHO
barno99
31 Jan 2016
Re: WE GOT A BUYER???.... I think more suitors will be forth coming this week.The assets ( worth billions when tapped) are to good to miss even with the debt.They will be taken over within a week or so.
tulleile
31 Jan 2016
WE GOT A BUYER???.... [link]
