From Sea7non ADVFN....raglans presentation for horizon medical tech ipo Q3/4 2015. Extract.. Raglan Capital, as promoters, would like to present an exciting pre-IPO medical technology company, which we plan to IPO on the London stock exchange in Q3/Q4 2015. [link] Could we be looking at this?
If thats the case Highlander it begs the question why did CF spend so much money buying at 4p?
Any info that affects the share price is classed as insider white label...
Tanking oil prices force exploration stocks down 03:55, 9 August 2015 by Barry J Whyte Offshore Ireland hasn’t been a great hunting ground When Saudi Arabia is considering tapping up the bond markets, you know that oil prices are probably in trouble. And last week, that was precisely what happened, with news that one of the most powerful oil-producing nations in the world was considering a plan to raise $27 billion (€24.5 billion) by the end of the year to fund its domestic spending, given the continuing low price of oil. For Irish oil companies – other than Dragon Oil, which is being taken over by oil giant ENOC and plans to delist from the Irish Stock Exchange – prospects look even more bleak. “Offshore Ireland hasn’t been a great hunting ground,†Gerry Hennigan of Goodbody Stockbrokers told The Sunday Business Post. This has put a lot of the smaller Irish exploration stocks under significant pressure. But pressures apply to companies across the entire sector, thanks to oil trading around $50 a barrel of Brent crude, just about a third of its all-time peak of $147. “The biggest problem is that whether you’re in Houston, Aberdeen or Dubai, in 2014 you probably had some confidence, and you were basing a level of investment on a project that may take a few years on that confidence,†Hennigan said. “Unfortunately, today you don’t have that confidence.†Over the last year, as oil has dropped from $100 to the current price, Ireland’s oil companies have similarly plummeted. Providence went from £1.38 (€1.97) to just under 20 pence. Petroceltic tumbled from £2.20 to just under 58 pence. Tullow collapsed from £7.30 to £2.20. Petroneft slid from a high of around £6.50 to around £4.40. Even the smaller companies lost share value. Circle Oil went from around 28 pence to just over 7 pence, while Aminex went from just under 3 pence a share to just over 2 pence. Job Langbroek, oil industry analyst with Davy Stockbrokers, agreed that Ireland’s small community of oil companies – whether they’re drilling for oil offshore Ireland or exploring in more traditional oil producing parts of the world – were all victims of the broader industry slump. Those smaller exploration companies were essentially research and development stocks, he said. “People call them exploration and production, but drilling for oil is the same as peering down a test tube,†said Langbroek. “There’s an awful lot of capital required up front, and when it comes off there’s a huge pay-off which repays you for that.†But when the final product is under pressure – as oil is today – the flowthrough impact on the industry’s ability to finance acquisitions, and to pump money into exploration, dries up, according to Langbroek. “We’re at the sharp end,†he said, referring to some of the smaller Irish stocks and their share performance. “In the share price performance of this spectrum [of companies], you can see the various indices have generated poor returns over the last couple of years, and it’s a direct reflection of the change in attitude on commodities in general and oil specifically.†Petroceltic has been taking up most column inches lately. Just before the news broke that Saudi Arabia was considering entering the bond market, Petroceltic had announced that it had been forced to pull its own plans to issue a bond that would have funded the first phase of the development costs of their major oil field at Ain Tsila in Algeria. The company cited poor market conditions, while observers hinted that the constant carping from its main shareholder, activist investor Worldview, had also contributed. But for David Holohan of Merrion Capital, several other Irish companies have been struggling, and some were in tricky positions even before the oil price slumped. Providence Resources, for example, where Tony O’Reilly junior is chief executive, has been attempting to find a farm-in partner for its oilfield in Barryroe in the Celtic Sea for a number of years now. “Earlier in the year it was widely reported they had a partner, but that failed to materialise,†Holohan said. “Then they reported it was finalising by the end of the year, but it’s been going on for years now with no white smoke. If they don’t get a farm-down complete, they’ll have to do an equity issuance next year.†If they proceed with that equity issue, it’ll be done at an all-time low for the company’s share price, a further blow for its shareholders. Meanwhile Tullow, once the shining star of the Irish oil and gas sector, has seen its share price fall to Earth lately. “Tullow is something of a one-trick pony. It’s dependent on its Jubilee oil field,†Holohan said. “It was a retail favourite in the Irish market and a success story from 2006 onwards.†This was due to some significant exploration finds, but shareholders are still waiting for those finds to produce oil. For Tullow, at least, the company is still producing meaningful amounts of cash, so it can still reduce its capital and operation costs, and can position itself well for a rise in oil prices. “Tullow has some very nice assets, and while it’s several years away from meaningful money it can batten down the hatches, and wait on higher oil prices going forward. While its debt is high, it has good support from the banks,†Holohan said. “Clearly, though, if oil prices were persistently low for the next few years, Tullow would come under pressure.†Things have been slightly better at the Russia-focused Petroneft, which is making progress with its main assets in Russia. “It’s one of the few companies where production is improving and the share price has reacted better despite the oil price,†said Holohan. For Langbroek, the market is cyclical, and all these issues will eventually work themselves out – though he’s not making any predictions of when this will happen. “It will turn, but most people don’t know when. People will give you dates and times, but then don’t know when it will turn,†he said. Sometimes it’s just pure momentum that turns a market around. “The thing about cyclical markets is that they rectify themselves,†Langbroek said. “There’s an old saying: ‘Nothing cures low prices like low prices’.†....... The Numbers 50%: the drop in the price of oil since last year 86%: Providence Oil’s share price drop 74%: Petroceltic’s share price drop 70%: Tullow Oil’s share price drop
I am amazed there is not more activity here prior to drill results...I guess I should know better by now...The antics at JLP are offsetting the boredom from PVR/LOGP...
I recently contacted PVR via email, they confirmed that Barryroe negotiations are ongoing as are Spanish Point discussions...
JH77, despite the current outlook I still believe the story is not over. With Petronas drilling as we speak not far from Barryroe, I believe there is too much value and opportunity in this company (despite SP performance) to warrant investment or an outright takeover. I think it will be Midleton drill, Barryroe Farmout, then a buyout of either LOGP or PVR or both...just my opinion
hxxp://brrmedia.co.uk/event/109556/stephen-boldy-chief-executive-officer
I have a feeling there is life here yet...