onedb1
09 Jan 2015
Re: RNS She is listed as being a PA at Fastnet to a VP in Exploration One can assume that she sold for the cash as she may well be moving out of the company, we must also remember that her salary was hardly going to be great so covering her shares for cash is important for her, clearly . Makes therefore sense to me that she just needed the cash . just like all of us. Market seemed to rally never the less , Seems like at least we know that the sell order had no operational reason nor came from an executive . It would be nice now to see an executive buy this cheap stock as a vote of confidence in their intentions.
in-vester
09 Jan 2015
RNS Friday 09 January, 2015Fastnet Oil & GasHolding(s) in Company RNS Number : 7964BFastnet Oil & Gas PLC09 January 2015 9 January 2015 FASTNET OIL & GAS PLC("Fastnet" or the "Company"
The Board of Fastnet has been informed that, following a disposal today of 5,798,070 shares at 2p per share, Armira Zylyftari no longer has a notifiable interest in the ordinary share capital of the Company. Fastnet Oil & Gas plcCarol Law, Chief Executive OfficerWill Holland, Chief Financial Officer Shore Capital NomadBidhi Bhoma, Edward Mansfield Corporate BrokingJerry Keen GMP Securities Europe LLP(Joint Broker
bobdog2000
09 Jan 2015
Re: Price down on high volume Higher than usual?Anyway the RNS explains why I think. Not sure why she sold 5 million shares at 2p? Obviously need the cash
onedb1
09 Jan 2015
Re: Price down on high volume bobdog7m at around 2p is just 140k . Hardly high volume ) The stock is so cheap that with £10k you pick up just under 500k shares .I'd be interested to hear from them soon . Am in at 3p and tempted to lower even more as cash alone is at 3.4 and $2m to spend on expenses , salaries etc in 2015 will bring it to around 3.1 . If they decide to return the cash and sell the 3D assets of the Celtic Sea , I would not be surprised to get around 5.5p . If they eventually farm out the asset in the Celtic that could add another $15/20m but at the moment that is on hold . Then they have the offshore assets in Morocco , still there and given a negative asset value for now There is value here . The team assembled has a lot of experience and am surprised about the Tendrara expiry . Lets see as they also own a decent amount of shares which they too will be looking at a big paper loss Lucky to have the cash here
bobdog2000
09 Jan 2015
Re: Price down on high volume Another day of high volume. I wonder why?
bobdog2000
08 Jan 2015
Price down on high volume Something is up (or should I say down)
onedb1
08 Jan 2015
Even2p. !! Darwin Award Well done the Darwin Award for 2015 doesn't need the year to be over . Selling at 2p is a clear indication of insanity , you lost a lot and am glad . Lol what a crazy thing to do. Selling 3.4p for 2p ... Beggars belief . I didn't realise that over $18m in the bank have devalued immensely . Lol
onedb1
08 Jan 2015
2.25 ? Why ? Someone lost the plot ? That puts the firm at £7.75m vs £11.9m in cash ! People have seriously lost the plot . There is a reason why some are poor and some are wealthy . Knowledge of basic arithmetic is one .
freelance2
06 Jan 2015
Re: tendrara I hope we do not see PG taking on Tendrara - that would be a conflict of interest in my view and I would want to ask the remaining directors why they walked away - why they considered it in the best interests of all shareholders. freelance
onedb1
06 Jan 2015
GBP/USD @1.518 our cash balance of just over $18m end of Nov equates to £11.8m or 3.4p a share . Just the cash = 3.4p . Say end of 2015 we have a cash balance of $16m that is the equivalent at today's exchange rate of 3p a share . Why are some selling at 2.4p or 2.5p is beyond me . Even with a forward looking admin and general costs assumption of $2m per annum .Also one cannot assume that Celtic Sea is worth zero even in this market. Things switch around very quickly and low oil prices could well be a h1 2015 scenario but a long term one. Looking at the oil chart bids will soon be seeing the risk reward scenario over a med to long term scenario return in their favour. That is not to say I am calling the bottom at today's prices but that from $50 a barrel of Brent downwards there will be more buying interest for sure .Hence Fast with the cash it has , has a great buffer to weather the storm and do some bottom fishing once a clear oil bottom is found . Timing may well be crucial here for a great deal . Unless an offer for Celtic is great am not sure I'd be wanting to sell it . Lets see . No point in selling at these levels though
White stick Investments
06 Jan 2015
More muses. Mornin all,The Fastnet Board along with many others has now to analise and take a best guess view as to the length and severity of this period of being uneconomic, and indeed imprudent to commit. This may have been the source of 'cash back'.I do not know the various important Licence terms with regard to Time and Activity that may downgrade the other assets.I do know that it is 'an ill wind that blows somebody good' ... opportunity?Some small solace that we are in good company with a few bob in the bank.Not holding my breath, keep smileing. P.
OLADAPO OGUN
05 Jan 2015
Re: tendrara Seems rest of the board never liked Tendrara in the first place. They referred to PG as Mr Tendrara for a while. I guess a previous rns which mentioned work being done and referred to celtic sea being farmed out this year while ignoring tendrara gave an hint of what to expect ultimately, onedb1 might be able to remember me mentioning this. Why Fast would want to walm away from the Tendrara humongous asset continues to puzzle me.Could they be putting it on the backburner until favourable conditions arrive , assuming no other potentially favourable farm outs for it manifest? Tendrara is potentially an asset of the size of Ruvuma which made Cove energy in terms of resources. The difficult farm in conditions wouldn't continue forever , so there is a chance tendrara could either reemerge under pan maghreb at some point in the future due to what I suspect are differences between the rest of the board and PG or back In the Fast camp in future when things are good again.
onedb1
05 Jan 2015
Re: tendrara shedfull,my same view too ! We were after all chasing gas in Tendrara which as we know is not as affected by the oil decline. We were also told many times how good Morocco is in terms of gas prices, location and tax competitiveness . It did surprise Yet sub 3p this share is a no brainer as the 3.3p plus 1.5 carry for the 3Ds in Celtic Sea should see this return to the 5s at least . At Celtic Sea farm out news would push this in the low teens. But it could take the best part of this year - that we can't forecast for as long as oil keeps on declining . Once it goes stable we'll have a better view
shedfull
05 Jan 2015
Re: tendrara Hello WTIProbably an 18month squall, but hopefully sunshine on the horizon somewhere!shares are tucked away under the socks for now
White stick Investments
05 Jan 2015
Re: tendrara Hi shedfull,You echo my musing. Batton down the hatches and hope this is only a severe squall. P
