Northern Non-Griping Energy
Cabot Energy is the new-name for Northern Petroleum... and with its new begging-bowl out for mugs at 5p a time.... No idea what they achieved as Northern, -OR- why Cabot ( the EPIC was used for the Grinding Company Carborundum....My it's annoying when LSE/AIM can't find EPICs that don't clash with those recently departed ( and I mean within 20years! ), Carborundum failed about 2005-DYOR.).
I put the non-griping first a Typo, then I though I'd be griping soon enough, even though the seniors have sailed-away on pensions provided by the LT investors. Obviously as with most AIM, investors got lots of words, but little to show for their cash. NOP went down from about 5p from March 2017 onwards as smart folks pulled-out. CAB started then about 4p5 and moved about until this placing/offer - it is possible to over-subscribe - but to be honest I did that long ago.
Let's hope the new name will show some ENERGY in their sp. - but with its Northern Roots - don't hold yr breath.
The Offer DYOR is 1 for every 8 held ( ~12% Dilution ).... they want 5p each.
The new money will fund some involvements in Canada / Alberta, while they continue to talk with the Italian Authorities, which has been on-going since 2000 - DYOR.
EDIT (3May2018)-sp ~4p a long way from earlier times, even neglecting the regular Begging-Bowl dilution . . . Nov 2004 it was 10p, then CONsolidated 5:1 ( so sp=50p Jan 2005), and it's been downhill ever since. Add dilution at maybe 40% DYOR, and that 50p needs to become ~70p to break even.....(do see notes re EPIC ), don't let these b grind you down...!