Alkane Energy - Back to 100p
Says Zak Mir of Zaks-TA.com
The stock market is full of hyperbole, especially from tipsters. I chanced upon Alkane Energy today and my immediate reaction was that it is the best stock chart I have ever seen.

This may sound somewhat melodramatic, but I do not think that it is an exaggeration. As all traders know (including Nick Leeson if you are reading), the way to make real money is by betting the bank on the really big calls. That is the aim of my site. Nick, if you're still there, now is the time to go long of Alkane Energy - it has to be a better bet than a Nikkei arbitrage.

Although a chartist is fully allowed to ignore the fundamentals and look purely at the technicals, the fundamental background to Alkane is a company that declared losses of 284,000 pounds in its last set of results versus 20 million pounds in the previous year. This is a great recovery situation just in financial terms and the hopes of the bulls are carried in the form of a very extended base on the chart below 20p that was in place for nearly three years. The charting rule is that the longer the base, the bigger and more powerful the eventual breakout. This would imply that we are looking at the possibility of a full return to the highs seen at the start of the decade towards 100p.

Only an end of day close below the 10 week moving average on the weekly chart at 19p would even begin to cast doubt on the upside. The minimum expected target in the near term would be the 40 week moving average now running through 40p.

Alkane bid a give away to cheap , another bad call by directors, they have
a good profit, punters ? I have made very small profit,. BB

Recommended cash offer for Alkane Energy! Listen to the CEO here!

Or you could just read the RNS:
"ALKANE ENERGY PLC

SUMMARY
· The Boards of Barbican Bidco Limited ("Barbican") and Alkane Energy Plc ("Alkane") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Barbican (a company controlled by Balfour Beatty Infrastructure Partners, L.P. ("BBIP")) for the entire issued and to be issued share capital of Alkane (the "Offer").

· Under the terms of the Offer Alkane Shareholders will receive:

for each Alkane Share 36p in cash

· The Offer represents a premium of:

(i) 44.00 per cent. to the Closing Price of 25.00 pence per Alkane Share on 15 September 2015 (being the last Business Day prior to this announcement); and

(ii) 59.50 per cent. to the average Closing Price per Alkane Share of approximately 22.57 pence over the six month period ended 15 September 2015 (being the last Business Day prior to the date of this announcement).

· The Offer values the entire issued and to be issued ordinary share capital of Alkane at approximately £61.37 million (assuming the exercise of all outstanding options).

· Barbican is a new company incorporated in England and Wales that has been formed for the purpose of making the Offer.

· The Alkane Directors, who have been so advised by Altium, consider the terms of the Offer to be fair and reasonable. In providing advice to the Alkane Directors, Altium has taken into account the commercial assessment of the Alkane Directors. Altium is providing independent financial advice to the Alkane Directors for the purpose of Rule 3 of the Code.

· Accordingly, the Alkane Directors intend to recommend unanimously that Alkane Shareholders accept the Offer, as they have irrevocably undertaken to do in respect of their entire beneficial holdings.