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FZR, FITZROY RIVER CORPORATION LTD
Dobie
post Posted: Feb 13 2013, 05:12 AM
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In Reply To: Lam's post @ Jan 3 2013, 02:36 AM

As expected, the company has come back to the shareholders for additional funds to keep things running until the money stream from the royalties kicks in. Good that they are priced at a reasonable discount to the current share price. Does anyone have any thoughts on where the share price may settle after the closure of the offer given that the no. of shares will increase from 75 to 90 million.

Any advice/ comments would be appreciated.

 
Lam
post Posted: Jan 3 2013, 02:36 AM
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In Reply To: blowout preventer's post @ Dec 12 2012, 10:19 PM

the departing people (well I would say the kicked out person...) was simply screwing the co. and its shareholders with complete dictatorial power in the company thanks to the vote of hidden shareholders of his acquaintance. Not surprising that the company did very bad as there was simply no interest in the business / assets / resources / people / shareholders from that guy.
Despite very interesting business prospects.
I still wonder how he dared get paid so huge salaries in the last 2 years (AUD 1 million in 2 years !!) while the company was doing so poorly and with so few cash left for operations. A shame.

 
blowout prevente...
post Posted: Dec 12 2012, 10:19 PM
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ph34r.gif This stock has had changes for the better . The board has seen change , from certain directors who saw this as a lifestyle company have been given the boot . New people here may well have the interests of the common shareholder in view . Value was almost squandered here under the olde boys . This company has propects , and is a long term winner . Royalties appears to be big time in years to come . Long term this is undervalued run the right way by intelligent managers . The departing people didnt have a clue to the future .

 
ShareScene.com
post Posted: Dec 11 2012, 12:11 PM
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Company name updated -

From: EUROPEAN GAS LIMITED (EPG)
To: FITZROY RIVER CORPORATION LTD (FZR)

Regards, ShareScene.com

 
triage
post Posted: Jun 8 2011, 12:13 PM
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Barra on the csg discussion thread had some good thoughts about European Gas Ltd's prospects. My impression, vague as it is, is that I agree that EPG has not been so successful to date and even then had to give away its most promising prospect to clear its debts. But the share price has not totally tanked, not yet anyway, like I thought it was a chance to do so the initial appearance is that there is some support for the new EPG.

This analyst's report also agrees with Barra's take that EPG has now become much more of an exploration play. But overall they are super-positive and come up with a target share price of A$1.42 to A$1.75. I'd be happy with that. wink.gif

http://www.europeangas.com.au/newsDisplay/.../1307484688.pdf

(hat tip to drwyas on hc)



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
veeone
post Posted: May 14 2011, 04:20 PM
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Not been following lately but might be useful to those that do. V1
European Gas Limited Completes Restructuring And Looks To Future
ASX-quoted European Gas Limited has completed the restructuring of €36 million of convertible notes issued to Transcor Astra back in 2007. The looming maturity of the notes has long weighed on the emerging coal bed methane company, which in November 2010 had its shares suspended as it battled to refinance the notes. In February the company reached a framework agreement with Transcor, which has now been successfully implemented and the notes fully retired.
Executive Chairman Julien Moulin said the restructuring was an "extraordinary outcome" for European Gas, giving the company the capital structure to move forward with the business. This outcome has not come cheaply, however, with the ASX-quoted company transferring its producing coal mine methane business, Gazonor, in northern France and its share in a 50/50 CBM joint venture in Benelux to Transcor.
Transcor will also be granted 22 million shares in EPG priced at A$0.5 per share, giving the Belgian group almost 11 per cent of the share capital, as well as a 12 month option to subscribe for a further 20 million shares at an exercise price of A$0.5 per share. The pre-suspension share price was A$0.45.
EGL will, however, have the right to farm-into Gazonor's exploration permits in Sud Midi and Valeniennois on completion of an agreed work programme. EGL will also have farm-in rights to Gazonor's Poissoniere and Desiree production permits and right of first refusal over any CBM, tight or shale oil and gas projects in the Benelux area.
Moulin said Transcor's investment in the business was a vote of confidence in the slimmed down European Gas Limited. "Transcor's substantial investment in the business demonstrates their confidence in our team, the quality of our assets, our business plan and our ability to grow the business in the future. We are pleased to have a new anchor shareholder that is enthusiastic about the future of the business and is also committed to our success," said Moulin.
Transcor director Gauthier De Potter said European Gas was now "evidently well positioned to explore and develop its large portfolio of prospective assets in a very favourable gas market in Europe."
Although the shares remain suspended for now while a number of post-completion tasks are finalised in the coming weeks, beleaguered shareholders will certainly be hoping this does mark the start of a new focus on the company's main business, unconventional gas exploration and production in Europe. The company has some promising assets, not least the giant Lorraine coal bed methane appraisal project in eastern France and the Lons-le-Saunier exploration project on the Franco-Swiss border, but has drifted in recent years, distracted by acquisition of Gazonor and the increasingly pressing problem of the balance sheet. With both issues now off the books, 2011 could really be a new start for EGL. Oilbarrel.com

 


triage
post Posted: Jul 23 2010, 08:46 PM
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Gee, this thread's been a little quiet of late sadsmiley02.gif ...actually the stock itself is currently comatose...on my screen there were no shares in it traded today. But if you bought in towards the end of May then you've had a rollocking couple of months (no, not me unfortunately).

Now this is one stock whose long-term performance simply does not make any sense to me. Coal seam gassers in Qld and NSW have done well over a timespan of the last couple of years. And at first blush Dart Energy appears to have some viv about it. What is mainly driving that interest is the demand for energy from north east Asia. But surely the same formula should apply to EPG. It is slap bang in the middle of the largest economic block in the world, the EU, which is so hard up for energy it is having to rely on the devil, in the form of Mr Putin's Russia, for supplies. And EPG has considerable prospects of providing csg into an already fully matured grid. Why is there no buzz about this company and this stock?

I see they have recently taken on board, as CEO and MD, the non-executive chairman of one of the local csg juniors, Blue Energy, so logic suggests that EPG is not considered a total dog. Countering that, they do not appear to have made much progress in recent years and they do not appear to have much cash left (though they do have some revenue from selling some gas from one of their tenaments in north France). But if BG and Chevron and Shell can get all gooey about csg in the middle of woop woop surely someone would at least give EPG a kick in the guts to see if there is any life in that carcass. But apparently not.

Anyway what triggered me to reacquaint myself with the EPG saga one more time is a couple of articles I came across today. It seems that France will be running out of electricity from 2013 on and will have to import even more of the stuff. Sounds like a window of opportunity for EPG imo (?).

http://www.businessweek.com/news/2010-07-2...3-rte-says.html

http://www.ifandp.com/article/006151.html



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
crooky
post Posted: Aug 21 2009, 03:33 PM
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In Reply To: crooky's post @ Aug 19 2009, 09:54 AM

Well so much for the good news weirdsmiley.gif
Gap been filled at .175 , lets hope that's the bottom.
See Maoming China Fund up their stake once more.

 
crooky
post Posted: Aug 19 2009, 09:54 AM
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In Reply To: radd's post @ Aug 10 2009, 02:09 PM

Hey Guys,

Good news out today,

Re- commencement of production test program at Lorraine , commencement of drilling activities at Jura and Gazonor projects .
And back in the agenda again , Joint Venture discussions continuing .

 
radd
post Posted: Aug 10 2009, 02:09 PM
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Hey All,

Put this one on my watchlist last week and jumped in today ,nice action this morning and a good

looking chart also, thanks to those who brought it to my attention last week rolleyes.gif

Luck to Holders

Cheers Radd.



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All things are difficult before they are easy,Keep your mind focused on your goals and you will acheive them!
 
 


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