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post Posted: Sep 16 2011, 10:56 AM
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Surprised no please explain for this one from the regulators?? biggrin.gif

post Posted: Jul 7 2010, 01:33 PM
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In Reply To: Brendan's post @ May 17 2010, 10:50 AM

A month and a half on and still no report on the possible "cooked" books.... talk about a joke thumbdown.gif

post Posted: May 17 2010, 10:50 AM
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What gives ??? gets suspended... doesnt trade for 2 months, comes back and then rockets... more so it holds the SP gains.... ideas ??

post Posted: Jun 18 2008, 09:48 AM
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stuck its nose over the short term resistance ,with a close at 10.5 cents

on 260k ,not alot of depth on either side atm


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post Posted: May 31 2007, 09:50 PM
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In reply to: blowout preventer on Thursday 31/05/07 01:34pm

ya havnt even been following this stock, so thanks but no thanks, credability 0

blowout prevente...
post Posted: May 31 2007, 01:34 PM
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This is very shonky. Have a look at Max Petroleum on Google ! You might catch on whats going down here . Geeeez!!! MacBank involved?????

Also, Note ::::: That Kazakstan place is not the best place in the world to be . "Google it ". Find all the TSX and London oiler Firms on the rubbish tips from dealing with the Kazak Govt . This is the shonkiest oiler area in the world .


post Posted: May 25 2007, 08:26 AM
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In reply to: cognitive on Thursday 24/05/07 07:01pm

Rather odd - Eddie Smith (Dir. ) buys 1.1 m on 15.3.07 @ 5.6c then sells his holding of 20.7 m to Energo @ 6.5c & resigns on 20.5.07.

Energo hopes to add to its holding of 23.3 m , a further 50m @ 6.5 c - with shareholder approval - which it will no doubt get because the 300% rise in S.P. to 23c since 20.4.07 presumably due to Energo involvement & its grand plans as announced.

A good deal of the buying I suspect is from UK - the SP starts the morning with great strength then tails off. Nobody complaining.


post Posted: May 24 2007, 07:01 PM
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In reply to: happychappy on Thursday 24/05/07 05:13pm

Unlike yourself Happy, I cannot think of any explanation for the sustained buy up that has been going on over the last few weeks, other than that GazProm want to just take it out, de-list it and plug any findings into their extensive network across Eastern Europe.


post Posted: May 24 2007, 05:13 PM
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Hi all,

I'm totally gobsmacked by the buying strength.

The SP is totally illogical but I'm enjoying the ride. I've recovered my capital plus a useful profit at 18c, so the rest is free-carried.

Momentum rules cool.gif


post Posted: May 13 2007, 08:00 PM
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QUOTE (cognitive @ Sunday 13/05/07 01:30pm)


One does need to read the full text of every ASX announcment since beginning of the year.


17/01/2007 Notice of General Meeting (for meeting held 23/2/07)
20/04/2007 Change in Directors/Substantial Shareholder and Placement
08/05/2007 Share Acquisition Completed & Placement

My interpretation of this is that we have a set off assets being back-doored into CPN, and it has been under negotiation since 2006.

The 20/4 announcement told us that the controlling block of voting shares in CPN was sold by Eddie Smith and associates to the incoming party, allowing them to take control of the board with the certainty that they had enough votes to fend off any subsequent challenge. Accompanying this was a second proposal to place 50 million shares, for which the ground had been prepared by the resolution approved in the 23/2 General Meeting.

(Note that the 50m shares had to be placed within 3 months of 23/2/07 and had to be at a cost of at least 80% of price at time of placement)

Ostensibly this is all to "implement a new growth strategy by acquiring interests in other European and former Soviet Union oil and gas fields....."

I would suggest that the incoming party already had deals stitched up and were just waiting to obtain control of a suitable corporate entity such as CPN.

All well and good.

And then along comes the 8/5/07 announcement to confirm the transfer of the crucial block of voting shares and lo-and-behold the goal posts suddenly move and existing shareholders are then told that the dilutory placement has been suddenly doubled from 50 million shares at 6.5c to 100 million shares at 6.5c.

So us poor mugs can expect to buy on market at 15c plus when the incoming party know they can buy at 6.5c.


Did Eddie Smith see that one coming?

I suspect not, because it really dilutes his remaining shareholding.

The curious thing is that the additional 50m shares can not be regarded as part of the original resolution of 23/2, but has to be regarded as a new placement, and a new placement that is occuring at much less than 80% of the market price. That smells to me.

Intellectually, I am biased against investing in companies with "sharp" management, but I can see that the break-out in volume and price could be self-sustaining for a while, especially if there are a few juicy announcements to tickle things along.



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