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VOY, VOYAGER ENERGY LIMITED
Wargfang
post Posted: Sep 14 2005, 01:49 PM
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Goodbye VOY.

Had profitable fun with ya.



--------------------
Resistance is futile – you will be accumulated
 
mosaic1996
post Posted: Aug 23 2005, 06:04 PM
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Karzy,

UBS are playing the arbitrage game. They are buying VOY and selling ARQ (no longer a substantial holder). So they may be completely neutral based on recent buying.

I'm inclinded to think that ARQ will perform better when the arbitrage opportunity finishes. Of course the main determinant of performance will be tied to the drill bit.

Cheers,
Mosaic

 
karzy
post Posted: Aug 23 2005, 05:21 PM
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thnx good to see ubs increasing it stake though


 
mosaic1996
post Posted: Aug 23 2005, 05:03 PM
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Hi Karzy,

Directors aren't buying - they were issued with free shares on exercise of zero price ($0.00 - good price if you can get it) execurtive incentive options.

Cheers,
Mosaic

 
karzy
post Posted: Aug 23 2005, 04:15 PM
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Directors buying as well.

 
rosskend
post Posted: Aug 12 2005, 11:53 AM
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Hi OMR - agree with you - unless some one comes up with a better bid - VOY holders will become ARQ holders. VOY is mirroring ARQ after a brief period when VOY lagged. Don't mind picking up some more ARQ - combined Co has some nice assets and with Trantulla coming in looking for continued upside LT.

R/Ross

 


oldman river
post Posted: Aug 12 2005, 11:01 AM
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In reply to: karzy on Friday 12/08/05 08:49am

You would think all of these institutions, now with 8% + 8% + 5% + any others below 5%, will all agree with the merger in order to make their money. So they will all be voting yes.

Also, with all the directors getting all of their options paid out, they will be votying yes. As well as voting their shares yes too.

Also, with option holders getting cashed out without having to exercise and stump up with the money, they will be voting yes as well.

Frankly, it's a friendly merger. Unless a counter bidder appears, is a done deal.

I sent off my yes form today in the mail.

 
karzy
post Posted: Aug 12 2005, 08:49 AM
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I'm taking it all in, very interesting. Another institution has thrown his hat in the ring yesterday with an initial 5%, things always happen in three's.

 
mosaic1996
post Posted: Aug 11 2005, 08:40 PM
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Not sure of the dynamics, but it would go something like this.....

VOY/ARQ price differnece aound 1.5% to 2% over less than 2 months, gives an annualised return of more than 10% per annum.

Net interest costs may run at 3% per annum. They would earn interest on the short position and pay interest on the long position at a higher rate.

So annualised return around 7%.

Say if they are leveraged by a factor of 10, givens an annualised return on capital of 70% or more. Not a bad return really. It may be lower than this.

Risk is that the merger does not proceed and VOY price collapses - fairly unlikely, but not impossible.

Higher offer for VOY - big celebaration.

Cheers,
Mosaic

 
sinkers
post Posted: Aug 11 2005, 07:58 PM
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Thanks for that Mosaic.

That's great news. I was worried about a flood of ARQ shares hitting the market when the merger is completed.

Interesting that they'd bother injecting $3 million to make $60,000, hardly seems worth it. I suppose as I mentioned before if there is another offer for VOY then that'd be a bonus. However, then they'd have the problem of closing out their ARQ shorts? Interesting!!!!

Regards
Sinkers

 
 


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