announcments are due soon, stock price moving should hit 1.80 easily, very interesting story with new field linked in with an indian oil company joint venture and I understand good results from one area, looks great

cynic - Is there an option of "will reach 1.30 on opening day"?

ok ..... by close of normal biz - i.e. say 16:20 if only because auction prices are notoriously crazy

Cynic - Why put Caveats on - A day is a day - including Opening and Closing auctions.

You getting worried? Shouldn't be.

It was 98 who thought it was an easy short. Not you.

Plus Frenchie reckons Russia is a better investment with Mitvol on the prowl and Shakalin taken off Shell.

Rather chance it in Nigeria TBH than give a penny to the ruskies.

Ruskies probably get a short on before Mitvol opens his mouth - well coordinated.


Anyway - full day or not?

in that case NO ..... opening price which was as you stated

Cynic,

It still seems a good bet for you.

I reckon so too, but it was not me who bragged in the first place ..... it was Tman who jumped up and down about sp opening at 130 when dealing restarted ..... now he is prevaricating!

Come on Cynic - 130 pence to be reached on opening day.

This is just sorting out the fine print.

I agree I was a bit hasty on 130 pence open but I think I was a tad excited with that claim of 130 pence on actual opening but you never know - it is possible.

EEL was trading at 4 once - so only a 66% discount.

Surely you don't agree it is possible as well as me?

All those roasted shorters getting burnt on the Bonfire....

Wade may be regarded as dodgy but I don't think he is stupid. Revenge on the people who tried to destroy the value of his company is a dish best served cold - as the suspension lingers.


Also from an ADVFN poster you should look at the BFC RNS and then compare the amount "On-Loan" officially.

Basically BFC has more than of it's shares shorted than are available to be loaned and quite possible more shares have been shorted than are in issue.

Suckers there cannot close their shorts without whipsawing themselves.

You wouldn't happen to have shorted BFC by any chance - Cynic???

All because the aggressive/greedy shorters have got their snouts in the trough.

No thought for the poor people of the North East where the companies operate and that depend on the work for a living.

Exactly the same principles were applied on EEL. Except the EEL is a wriggly creature and this one carries a sting.

Poor, stupid 98.....Burn...that'll learn you to be a greedy b*st*rd.

i shorted BFC very succesfully at 28/30 ... took my profit and would have shorted again at 20 but no one would lend stock.

EEL - Ok; if you want to change the rules a bit, then will happily wager 1000 on 1.30 not being hit on relisting day ..... who will be stakeholder or do I have to trawl back through CHP to check who acted for then in that capacity?

Cynic - Will be back on reopen to take that 1000 from you. Easy money.............

Would not like to be short when this re-lists.......

Equator Exploration Equator in reverse takeover of CAMAC Energy for 172.7 mln stg


LONDON (Thomson Financial) - Equator Exploration Ltd said it has
conditionally agreed to a reverse takeover of CAMAC Energy Holdings Ltd, a unit
of CAMAC International Ltd, for about 172.7 mln stg.
With this, the oil and gas exploration company will acquire CAMAC
International's exploration and production interests in the territorial waters
of Nigeria, it said.
Equator said it will issue consideration shares to CAMAC Energy EP Ltd,
which will own 70 pct of the enlarged group with Equator shareholders holding
the remaining 30 pct. CAMAC Energy EP is CAMAC International's wholly owned
subsidiary.
Equator also said it has entered into two working capital facility
agreements, one with the South African Oil Co, a unit of CAMAC International,
and the other with a shareholder lender.
Under the agreement, South African Oil Co and the shareholder lender will
each provide Equator with a 5 mln stg facility, with a maturity date of Feb 15,
2009, it added.
TFN.newsdesk@thomson.com

Rodders

I don't think it will 1.30 anymore though on relist day.

Maybe 80/90 pence.

whoops! do i hear 1000 winging my way suddenly? .... even 80/90 may prove a goal too far (or something)

Is someone holding the stake money ?

nah! ..... this one wasn't actually officially logged and tman kept changing the rules anyway .... but just a few days ago he was saying how he was looking forward to spending the 1000 i was for sure going to lose

When is EEL going to come back? Wish all shareholders luck.

Great news today.......

LONDON (Thomson Financial) - Equator Exploration Ltd said it will farm out 20 pct of its participating interest in the Production Sharing Contract in Oil Prospecting Licence 323 in offshore Nigeria to BG Exploration and Production Ltd for about 75 mln usd.

It said the completion of the farm out is subject to consents including approval of the Nigerian National Petroleum Corp.

The company had a 30 pct participating interest in OPL 323.

Equator also said it has agreed with its Nigerian partners to buy back 3 pct of the net profits interest granted in March 2006 on completion of this farm out agreement.

Following the transaction, Equator will have a net economic interest, after recovery of costs, of 9 pct in OPL 323. TFN.newsdesk@thomson.com pmi/slm

Rodders

it will be interesting to see at what price sp is restored to listing

A conversation reported from another board, with Rand is that they will
relist the same day as the Admissions document which will be by the 31st Aug?
Yes it will be interesting at what price the SP, have no idea myself.Hoping for 50p+
which in the current market would be more than acceptable.
Not done much research on this company,i had kept an eye on it and once it started to move just bought in on the flow at 35p.
cyril

It is a bad time to come on to the market with so much volatility

Equator Exploration agrees 5 mln usd loan facility with shareholder lenders - AFX


LONDON (Thomson Financial) - Equator Exploration Ltd said it has agreed an unsecured short-term working capital loan facility for 5 mln usd with its shareholder lenders, repayable by Dec 15.

The company said that in return it has agreed to issue 8.375 mln warrants pro rata to the lenders at an exercise price of 30 pence per share.

This may be re-set downwards depending upon market prices during the first 15 days following lifting of the current suspension of trading of its shares, the company said.

The warrants are exercisable over two years and the loan carries an annual interest rate of 6 pct, the company added.

TFN.newsdesk@thomson.com

kal/jfr