EnCore Oil PLC

Some reading to help pass the time.
http://boards.fool.co.uk/Message.asp?mid=10853558&bid=&sort=whole#10853616
http://www.lundin-petroleum.com/Press/pr_uk_21-12-07_e.html
http://www.webfilms.ca/gulf12.htm
cyril

And some more,
http://www.guardian.co.uk/business/2008/jan/02/stockmarkets.ftse
cyril

I would assume we are seeing people taking a profit at this point. Hoping this will not turn into an all out slide though.

Nothing wrong with taking a profit after such a meteoric rise. Good newsflow from EO. has continued for some time, but these things never seem to last forever most of the time.

there is some quite strong institutional following for EO. which is always a comfort

Have now taken my profits for this one so am happy.

Happy New Year to one and all.

Turning into a bit of a rollercoaster, can't see any reason for the sudden rise this afternoon but then I do not have Level 2 access!

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=100120
Seems you need to register for the article.
cyril

http://www.worldwidebb.com/news.php?id=latestnews&cast=395
cyril

a seemingly unaccountable bounce of 2.5p this morning .... may well be nothing but a freak, but fingers crossed

Up 1.5p yesterday and again this morning, if cyril's last post is correct surely this is seriously undervalued with anyone holding likely to get either shares in the new gas spinoff or a possible buyout of the gas business before that happens?

Or do I misunderstand it?

Delay to proposed demerger.
http://www.investegate.co.uk/Article.aspx?id=200802010700400406N
cyril

Rocketing this am, tipped as a possible take over?
cyril

Reuters ...... A number of parties have expressed interest in participating in Encore's gas storage business * Has appointed N M Rothschild to assist it in evaluating its options


RNS
EnCore notes the recent press speculation regarding its gas storage business.

EnCore wishes to clarify that, as previously announced, it is in the process of
demerging its gas storage business and confirms that no decision has been made
to discontinue this process. However, a number of parties have expressed
interest in participating in EnCore's gas storage business and EnCore has
appointed N M Rothschild to assist it in evaluating its options.

A further announcement will be made when appropriate.

What a nice day. Cynic, good to see you back again you haven;t been around for a while. Are you in on this co right now?

A really silly question as I have not been through a demerger before - do we automatically get a number of shares in any demerged company? Or is this down to the terms of the deal?

i've been around and certainly in UK!

don't know what the full implication of this demerger may be ..... certainly it will put money in the bank for EO. and it is not impossible that shreholders will get a windfall of some kind, but don't bet on that .... it may also be that it will clear some debris to allow a predator through the door .... one nevr knows!

This was in The Times yesterday - no time to post then as I was out most of the day:

Shares in EnCore Oil rose 2p to 52p after rumours that the company has abandoned plans to float its half-share in its offshore gas storage project in the North Sea in favour of an auction to be conducted by NM Rothschild, to be concluded in the next few days.

The speculation was that EnCore had been approached by a big energy group. Eni, Total, Statoil and Gaz de France were all seen as potential buyers of the half-share. Star Energy, which operates the project, owns the other half and is about to be taken over by Petronas, of Malaysia, was thought to be looking at ways to block the sale if it does not approve of the winning bidder. It fears that an oil group with other priorities could delay the project to develop what would be Britains biggest gas store.

To open at 60/63p
cyril

Cotter try checking the latest RNS,s on
http://uk-wire.com
put Epic in address box.
cyril

FOR THE COTTER, CHEER.