Still baffled why Cairn ceded control of Spanish Point against PVR's bid of $1, particularly when Cairn are committed to carrying part of Chrysaor's drilling costs? Can anyone volunteer an explanation?
Something bothering me for some time. Whý on earth did Cairn not buy up CEPIL's interest in SP, rather than allow PVR to buy for $1? Cairn already carrying part of CEPIL's drill costs and now PVR higher share than the Operator with potential probs that could cause. Any thoughts?
Thanks Arminius, I should have gone to SpecSavers!
I assume BoD are not "Placees" at 25p but "Open Offerees" at 34p? The RNS interestingly did not say that the BoD would be taking up their allotment (relatively minor as this maybe).
Correction: Sapinda give impression that Heckler and Koch (armaments) is theirs but may be just financiers. Website carries their news but is wholly silent on relationship.
Phonner, I'm afraid Lars looks after Lars. For some advanced tuition, seewhat he's up to at Petropavlosk (LSE EPIC code POG), a company whose shares have fallen from 1300+ to 14p. Carpetbagger supreme. Also, one of his subsidiaries is an armaments exporter. On the Sapinda (Sequa) website, under News "From Russia with love" he gives a synopsis of his birthday party....you will need a sick bag.
You couldnt write the script for this! Essential reading for bloggers on this thread....google the Daily Telegraph article of 30 May 2010 on Lars Windhorst, owner of Sapinda, which is the owner of Sequa Petroleum. Sorry I cant put up link on my tablet.
Just read the wikipedia biograhical note on Lars Windhorst, the co founder/owner of Sabinda, the holding company of Sequa Petroleum (only incorporated in Aug 2013 with $25m capital from Sabinda for only speculative project in Kazakhstan). Made $4m loss in 1st 4 mths accounts. If Wikipedia article is correct, Windhorst knows far more about fighting fraud allegation, bankruptcy and paying settlements to the German State than he knows about the oil business. So far the only plug that Sequa is the financier is the gushing Vincent Ryan of the Murdoch Times. If its true, Providence is truly scrapping the barrel.
Many posters seem to give some sort of credence to broker analysts. I guess I have always had a jaundiced view of such people. Take with a grain of salt the company's own brokers and under no circumstances pay any attention to an Irish resident broker. They virtually never issue a "sell" recommendation (unless the company is already worthless) and are rarely if ever "independent".