Media coverage

-->

11th Jul '09 by AnonymousUser858

27 comments 8304 reads

Thread for media coverage

Unlock with Email

Unlock with Google

Already have an account?
Login here

About the Author

AnonymousUser858

Premium Member

27 comments

robs12

20th Oct '10

I guess that depends upon whether you regard TC as an asset?!
Having said that he has had a large stake & directorship for a while, so nothing new, but looks to me like today's RNS is a clear signal that we have a son of Dana.
There was a DJ newswire quote posted elsewhere earlier with a quote from TC which pretty clearly stated intentions. Won't post it because I don't have the original link yet.
If this is the case, then I think 100% is somewhat less than we will see in the very near future.

Fangorn

20th Oct '10

Incredible, up 137% now.

robs12

20th Oct '10

It was a £7m market cap & approx 70% of shares are 'tightly held'. Much more to come yet IMHO! But there will be a significant CR, probably in near future etc etc... could go anywhere in the short term.
Effectively, it's a small shell, and the only thing that matters is that TC is saying he's going to take it some where.
I wonder whether it will involve more of FPM?

robs12

20th Oct '10

OK, so here's the Wall Street Journal report:

http://online.wsj.com/article/BT-CO-20101020-704579.html?mod=wsjcrmain

A couple of choice quotes (which will explain the SP enthusiasm):

Cross told Dow Jones Newswires that Parkmead, an advisor to oil companies and governments and an investor in exploration, intends to acquire exploration and production assets and has identified the North Sea, Africa and the Middle East as key areas to focus on.

Cross said debt-free Parkmead is a "blank canvas." Shareholders and potential new investors have already indicated they are prepared to stump up cash to fund the purchase of licenses, assets or companies, he said in an interview.

"There's been a very strong wave of interest from investors who have said 'we are ready to get behind this when you have the right projects lined up,'" said Cross.

AND

Cross said Parkmead's long-standing industry relationships put it in a good position to identify promising assets and source deals. Board members include Brian Wilson, a former U.K. government energy minister, and Faysal Hamza, managing director of a Middle East private equity group.

Cross said the natural next step for Parkmead is to expand its investment activities in exploration and production. "That's what it is being encouraged to do by its shareholders," he said.

New investors and governments Parkmead advises have also urged it to get directly involved in running oil and gas projects, he said.

Cross said Dana Petroleum was built by gaining licenses and buying assets and companies and Parkmead will pursue a similar strategy. It will examine both exploration and production opportunities, he said.

Fangorn

21st Oct '10

Up another 91% today to 5.75p - amazing....

Anyone get in over the last couple of days?

MrTrousers

21st Oct '10

I picked up some, purely speculatively, at 4pm yesterday (3.05p). I imagined I'd missed the boat.....

MT

repobear

21st Oct '10

That graph reminds me of Encore's

Except ......

That it has happened over a couple of days and not four months or more
PMG haven't found loads of oil ...in fact they've haven't done anything except appoint TC to an executive role.

Repeating his success at Dana may not be so easy as the punters jumping on board seem to think.

repobear

robs12

21st Oct '10

I don't think we should encourage any TA here repo? ;-))

Fangorn

21st Oct '10

Agree Repo. I tried to pick up some a while back at 1.62 and 1,72 - never got filled.

Feel I've missed the boat for the timebeing - not paying 5.75p/sh

Fangorn

22nd Oct '10

Up 33% to 8.5p so far this morning. When will this run out of steam?

alan2222

22nd Oct '10

Not until it gets much higher I hope! ;o)

alan2222

22nd Oct '10

Perhaps this will tempt Schroders to take a quick profit and get out early - might spare us a repeat of the Dana debacle.

Fangorn

22nd Oct '10

Congrats for getting in. I tried and failed twice back when it was 1.62 and 1.7 - kicking myself as I was paying the offer at the time....

robs12

22nd Oct '10

Sold all mine this morning (bought in August, my hunch was right!), but will come back later.

ohisay

23rd Oct '10

http://ftalphaville.ft.com/blog/2010/10/22/379781/more-muppet-madness/

Fangorn

27th Oct '10

Looks like plenty of profit taking this morning....

Down 15.7%....what a hair raising run this one has been.

Fangorn

8th Nov '10

http://www.telegraph.co.uk/finance/financetopics/profiles/8113069/Dana-Petroleum-chief-Tom-Cross-reflects-on-the-deal-of-the-decade.html

Up 37% this morning to 9.25p

Incredible.

robs12

8th Nov '10

It will end in tears (at least in the short term)....
Such a small number of shares for sale, and so many dream chasers buying!
Will be very interested to see what is brought to the table for the (inevitable?) deal, and at what price. Then there'll be a few more shares around I would hope, and some semblance of reality.

AnonymousUser858

8th Nov '10

PMG will need to raise cash to launch any acquisition programme - whether it's acquisition of unexplored acreage or of undeveloped discoveries or of producing assets

The key question is therefore "could a significant placing succeed at or near the current price?"

Given that the SP has completely detached from the value of the underlying assets, I can't imagine any answer other than "no" - which leads me to expect the SP to fall back and fall back very sunstantially.

I have to confess to getting this one wrong by being much too early. I bought in at around 0.8p over a year ago - i had been watching Cross and he bought in at around 1p I seem to remember. However I decided I'd made a mistake and bailed out at more or less the price I paid.....

Despite my keeping the co on my watch list I missed its subsequent re-awakening. I'd be very happy to take a punt sized holding but not at anywhere remotely close to curren prices.

Fangorn

8th Nov '10

Same here Tourn. It's been on my watch list for a while and despite two attempts to buy at 1.6 and 1.7p.sh I was unable to do so. have watched it soar since to these ridiculous levels. Not a buyer here. am hoping it falls back substantially before dipping my toe in.

Unlock the metrics for all these stocks and more...

Take a free trial

Facebook Twitter Youtube Instagram RSS

This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.

Unlock the metrics for all these stocks and more...

Take a free trial

Media coverage

Unlock the rest of this article with a 14 day trial

About the Author

AnonymousUser858

27 comments

Unlock the metrics for all these stocks and more...

Unlock the metrics for all these stocks and more...