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Missed it too. That's good. We need some action in this. Should be at 6p at least imo.
At these prices.
Shows our relationship with gov is way better than acacia and probably quite good in general. This should re rate higher.
Great news!!
As do I . Buiding a nice position here for the inevitable rerate,
Incredible...
I'm buying!!
Well... Im in at 4 and looking at good returns over time, hopfully. Everyone is afraid of the political scene and I don't blame them. But I live to buy when others are fearful!
I see this doubling over coming months when all gets clearer..
Good company, new high profile CEO, trading substantially under cash value... no trades whatsoever.. what will it take to get some action around here? I know I am adding at this time at least
Yes it should... What is the cash burn.. 0,1p/share each month was it?
ouch... not a surprise though...
And see difference in price. The only shareholders at the agm were the board (or at least close to it).. Of course, they want this piggy bank in their control. I hope I am wrong and that you will prosper, but I feel it wld have been better for all together with SOU.
Well, I hope that you're on your way to Calgary mate. Those 10 mill are going in various compensations programs.. vote against thatm regardless of SOU. Total disconnect between holders and management
I've never seen so many compensation bullets before.. A lot of money in the wrong direction http://www.antrimenergy.com/files/Information_Circular_2013_Final.pdf Take the opportunity to join sound today at the agm.
Crude - couldn't agree more.
As for Sound they pick up a high potential exploration asset in Ireland (diversifies pre Badile outcome) and over £10M in cash, all for just over £6M worth of paper (about 13% of the enlarged company). It’s a win, win deal for ALL stakeholders. Take a good look at Antrim’s management. Over the past 2 stretch, they’ve done nothing but destroy value for their shareholders through miss-management. When a Company are trading below cash value after running the sp into the dirt, then you know that it has failed miserably. President and Chief Executive Stephen Greer, ‘resigned’ his position then immediately ‘assumed’ the role of Chairman of the Board of Directors. (Stephen Greed!) Here’s a question for AEY shareholders. How much cash did Gree(r)d get from AEY upon his resignation? Was it 1 years’ salary? 2? 3? Because I can tell you this he got a hefty settlement! Now he gets another chunk of the Antrim cash as the Chairman! What an absolute disgrace. The Antrim Corporate troughers whose egos destroyed Antrim, have failed to respond to the Sound Oil offer, are the very same who f**ked up the Company for their own shareholders. While raking in millions upon millions in fees for themselves. They live in Canada! They’re detached from their own share-holder base. Proven corporate failures only interested in lining their pockets with what little money is left. The combination of Sound Oil and Antrim as an entity will have a nice balance of assets, be focused entirely on Europe while being well funded and should be interesting to institutions given the increased scale. It’s a win, win deal for all stake-holders. Consolidation is in the air I expect that Antrim are not the only company that Sound are targeting. There’s more to come. Watch this space. As most know we do not give buy, sell or hold recommendations on Guerillainvesting, much preferring for people to research for themselves to make up their own minds. However rules are there to be broken. If confirmation was ever needed for a stock to be in your portfolio then todays RNS was it. Buy SOU up to 16p and hold.
A major indication of just how Sound Oil (LON: SOU) see their future dropped today via an RNS. A predatory takeover paper offer for the distressed and shockingly managed (into the dirt) Antrim Energy (LON: AEY). You’ll all know that I am a big believer with a large personal stake in the Company. I have skin in the game. I keep telling investors that the SOU story is one of success upon success, since the boy Parsons, took the helm he and the team have turned them into one of the best AIM oiler plays of recent years. Cornerstone investors, producing assets, cash in the bank, big exploration play and a flagship gas discovery (Nervesa) about to come on stream. Not forgetting that they’ve admitted they are in talks with a Global International Oil & Gas Company regarding a Major farm-in which could lead to a creeping full blown takeover at many times their current SP. You’ll all recall that Antrim were at one point capitalised at £250,000,000 with solid production from their Causeway asset. The board ran up huge debts on Causeway, broke all their banking covenants, Credit Suisse called in the debt and hey presto the Canadian based Board flogged Causeway in a forced firesale. To cut a long story short Antrim ended up losing Causeway for a pittance so that the Board could keep lining their own pockets. Antrim are now basically a one asset operation quasi shell valued at approx. £5 million. 90p to 3p what a ‘performance!’ If only the Sound Oil team had been in charge then I can guarantee that Antrim share-holders would be sitting pretty on a hefty value accretive investment many, many times its current value. Instead of holding crabs. This is a great deal for Antrim shareholders as they get access to a balanced portfolio in Italy, production and exploration; Good management, cost synergies (Out goes the failed BOD Hooray!) and a credible growth story with a possible take out of many multiplies of the current SOU share-price; 10.75p. How does 60p ‘sound’ to Antrim energy share-holders? Because folks that’s what the potential gain is on Sound oil. The Offer for each Antrim share, 0.3198 new Sound Oil ordinary shares values each Antrim share at 3.44p. This values the entire issued share capital of Antrim at £6.35M.
Depends on the bidder. No official offer has been made here yet