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ACN, ACER ENERGY LIMITED
nifty49
post Posted: Nov 2 2012, 07:05 AM
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In Reply To: pacestick's post @ Nov 2 2012, 06:12 AM

Yes SXY selling gave the game away, mine are now 4 Sale.

Will consider DLS.



Nifty

 
pacestick
post Posted: Nov 2 2012, 06:12 AM
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In Reply To: nifty49's post @ Oct 29 2012, 04:07 PM

DLS has now obtained over 50% of ACN while ACN can continue the fact that SXY sold their holding to DLS means that their is no significant holder to block compulsory acquisition should/when DLS hits 90% I accordingly have sold acn on a about a 60 % profit and put the bulk into DLS The ACN fields being the primary reason.
I believe a number of people who bought into ACN after the announcement of the Takeover may have been burnt
This is one case where long term buying and averaging down has won over short term strategies

 
nifty49
post Posted: Oct 29 2012, 04:07 PM
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In Reply To: pacestick's post @ Oct 26 2012, 07:23 AM

Watching and waiting too......not selling!

 
pacestick
post Posted: Oct 26 2012, 07:23 AM
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In Reply To: nifty49's post @ Oct 26 2012, 06:54 AM

Im absolutley certain it isnt I would rate this company at 40 to 50 cents . I am sure the SXY and a number of investors who bought in at above DLS original price and paid an average of about 28.5 cents see it the same way.
Republic have sold to DLS which brings their holding up to 40% The company is in negotiations with a third party is SXY or someone else So I will be watching for a statement from the company they called the 25.5 cents offer oppurtunistic I wonder what they will say about this

 
nifty49
post Posted: Oct 26 2012, 06:54 AM
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In Reply To: pacestick's post @ Oct 23 2012, 06:14 AM

I am not to sure that 28.5 is a reasonable offer!

 
pacestick
post Posted: Oct 23 2012, 06:14 AM
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In Reply To: pacestick's post @ Oct 22 2012, 08:01 AM

www.acerenergy.com.au/



Acer Energy (ASX: ACN) holds a balance of exploration and producing assets in the Cooper, Bass and Darling basins, Australia.

inShare Email
Acer Energy increases Flax reserves by 280% to 88.5MM barrels of oil equivalent
Monday, October 22, 2012 by Bevis Yeo Acer Energy (ASX: ACN) has recorded a 280% increase in the in-place resources at its wholly-owned Flax oil and gas field in the Cooper Basin to 88.5 million barrels of oil equivalent (MMboe).

This was due to mapping of recently acquired 3D seismic, which delineated the Flax field as a much broader structure covering an area of 12.25 square kilometres, as well as including the upper and mid Patchawarra formation reservoirs.

The resource upgrade, which follows completion of the 12 month technical review of the company’s GMI Ridge assets, was audited and supported by independent petroleum consultant RISC.

Acer’s current Flax workover campaign and pending drilling program of up to six wells is focused on converting the increase resources into production using the existing 1,000 barrel per day faciltiies at the field.

Flax workover and drilling

The company is using the Savanna Energy Services Rig 66 to recomplete a well and carry out hydraulic fracture stimulation and production testing of the previously untested Patchawarra formation pay intervals and a previously fracture stimulated pay interval.

This will determine the effectiveness of the larger modern designed hydraulic fracture stimulations in both the Patchawrra and the previously stimulated pay intervals and test the hydrocarbon composition and productivity of the Patchawarra.

Acer will also install artificial lift in a selected well to test its impact on well productivity.

The results of this workover will be a key factor in the well completion design for the new appraisal and exploration drilling campaign of between three to six wells that is scheduled to start in October 2012.

This is targeted at appraising the potential large southern extension of the Flax field which has been mapped following interpretation of the new 3D seismic.

The Flax oil field had produced 5,013 barrels of oil during the quarter ended 30 June 2012.

Takeover target

Acer is also the subject of a takeover bid by Drillsearch Energy (ASX: DLS), which is dangling an all cash A$0.255 per share offer before Acer’s shareholders.

Drillsearch is targeting a consolidation of its western Cooper Basin position and the large discovered unconventional resource there.

Interestingly, Senex Energy (ASX: SXY) – Acer’s partner in PEL 100 and PEL 182 – has also acquired a 6.42% stake in Acer, raising the possibility of a bidding war.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.




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pacestick
post Posted: Oct 22 2012, 08:01 AM
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In Reply To: bermuda's post @ Oct 16 2012, 08:17 AM

Senex have increased their holding to 7.5% This follows DLS making their offer formal at 0.25c.

 
bermuda
post Posted: Oct 16 2012, 08:17 AM
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In Reply To: pacestick's post @ Oct 15 2012, 08:32 PM

Footbridge yesterday advised that NHC were having a crack at ACN as well. ( it was an unusual statement inthat they said NHC were going to help SXY aquire more ACN stock ).

Good news for ACN anyway.


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pacestick
post Posted: Oct 15 2012, 08:32 PM
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In Reply To: nifty49's post @ Oct 9 2012, 03:45 PM


Acer Energy urges shareholders to hold on Drillsearch Energy offer
Monday, October 15, 2012 by Bevis Yeo Acer Energy (ASX: ACN) continues to urge shareholders to take no action regarding Drillsearch Energy’s (ASX: DLS) A$118.4 million all cash takeover offer.

The company said it is reviewing the offer and that it will respond with its recommendation once the Offer document is despatched to Acer’s shareholders.

Acer also noted the recent substantial shareholder’s notice lodged by Senex Energy (ASX: SXY) advising that it had acquired a 6.42% stake in Acer.

Senex is a joint venture partner with Acer in two Cooper Basin tenements.

Drillsearch’s offer, which is fully funded by its existing cash reserves and a A$100 million 15-month debt facility from Commonwealth Bank, has already received the support of Acer’s largest shareholder Republic Investment Management.

Republic had previously sold 19.9% of Acer to Drillsearch and plans to accept the offer for its remaining 18.82% holding in the absence of a superior offer.

The acquisition is targeted at consolidating Drillsearch’s position in the western Cooper Basin and will give it the largest discovered unconventional gas resource outside of the Cooper Basin Joint Venture partners.

Post-consolidation, Drillsearch will have a combined Proved and Probable Reserves as well as best estimate Contingent Resource of 38.7 million barrels of oil equivalent.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

http://www.proactiveinvestors.com.au/companies/news/34508/acer-energy-urges-shareholders-to-hold-on-drillsearch-energy-offer-34508.html




 
nifty49
post Posted: Oct 9 2012, 03:45 PM
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In Reply To: pacestick's post @ Oct 5 2012, 07:03 AM

Senex in the action, I see.

Happy with this as I hold both ACN and SXY. Win. Win.

Nifty

 
 


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