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COD - Cossack Energy

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bigdog

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ASX ann today

PTO 9:03 AM Photo Me booths photobooth rollout
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00764012

Photo-Me boosts stage one of national photobooth roll out

Australia’s largest operator of digital photobooths, Photo-Me Australia (ASX Code: PTO), announces that it has increased the size of stage one of its expansion plans to significantly boost the size of its national network of leading edge technology photobooths by December 2007.

The Company recently received confirmation from its seafreight logistics operator that a further ninety six (96) new digital Minibooth III are currently being shipped to Australia. It is anticipated that arrival and installation of these photobooths will take place during November and December.

Upon having the 96 Minibooth III’s installed and operating, the Company will have 328 digital photobooths operating within our national network. This compares with our earlier advice last month that the stage one roll out would boost the photobooth state to 300. This larger roll-out strategy represents a 63% increase in the number of photobooths operating since the Company
listed on the ASX on 7 June of this year.

Photo-Me managing director, Mr Vince Accardi, said today that the 96 Minibooth III photobooths will be deployed within prime shopping mall locations across Australia. “We have sought and received a greater number of our leading edge Minibooth III machines in response to substantial demand from our leading landlord customers,” Mr Accardi said.

Earlier this month, the company released its preliminary annual results for the year ending 30 June 2007. Revenue had increased 23% from the previous financial year, on virtually the same number of active photobooths. The key driver to the improvement in revenue was a 29% increase in transactions. “Although the Company is taking a very steady approach to rolling out these additional photobooths, the Company is very eager to deploy these machines as it will have an immediate and positive impact on revenue for the business.” Mr Accardi said.

“We continue to have a significant amount of unfulfilled demand from Australia’s leading landlords for our photobooths and we will be announcing further expansions of the network as the machines become available,” Mr Accardi said.
 
Re: PTO - PTO Consolidated

Call me crazy, but I have picked up a small stake in PTO based on yesterdays announcement.

AGREEMENT TO ACQUIRE LARGE HYDROCARBON PLAY ONSHORE WESTERN UKRAINE

- PTO has entered into an agreement pursuant to which it has agreed to acquire the Limnytska oil and gas licence (Limnytska Licence) located in Western Ukraine
- The Limnytska Licence is an onshore oil and gas project with a relatively low risk appraisal opportunity and significant upside resource potential
- Ownership interest of 100% to enable farm-in or debt financing capability
- Favourable commercial terms, significant growth potential and strong local partnerships
- Large deep and shallow structure potential with logs from an historic well indicating the likely presence of moveable hydrocarbons
- A total net pay of 130.6 m was interpreted across a 727.6 m gross interval on Pivdenna Grynivka #2 Well, with porosity up to 24% and oil saturation up to 83%
- Independent technical review has been completed which endorses potential -additional review underway to determine volumetric estimates

The Chairman of PTO, Mr Peter Wall, stated:
“This is an exciting new acquisition for PTO that will result in the Company changing the nature and scale of its activities to an oil and gas explorer, and hopefully producer.”
“The Limnytska Licence has a number of targets, which are supported by geological mapping and historical drilling of the licence area. This should enable the Company to generate strong investor interest because of the near term potential for the licence to deliver production.”
“Further, the local vendors have a vested interest in the success of the project via equity In PTO, meaning that their interests are aligned with other shareholders, a relatively unique position when dealing with Ukraine vendors.”

Not my usual type of investment, but here is my forward looking methodology.

Upon completion of this transaction, PTO plan to consolidate their shares on a 17:1 basis with the aim being to have a tight share register with a share price of around 20c.
With $1.3m at the moment and presumably some cash burn will occur before this happens, therefore a cap raising will be required. Cap raisings of this type for existing share holders often have some sort of option as an incentive to participate.
Hence the result will be a small cap oil & gas explorer with a tight register, hopefully an option issue with a cap raising. Something that aligns well with my usual strategy. The transition alone from current activities to the O&G sector should see an element of speculation come into play, I am merely trying to pre-empt all of this and get into the picture early.
The potential upside on this is worth the risk IMO.
 
Re: PTO - PTO Consolidated

APPOINTMENT OF MANAGING DIRECTOR – DAVID KING

The Board of PTO Consolidated Limited (to be renamed Cossack Energy Limited) (ASX: PTO) is pleased to announce the appointment of Mr David King as Managing Director of the Company, effective 1 May 2013.
David is a qualified engineer and has been involved in the infrastructure, energy and oil & gas industry for over 30 years. He started his career working for the Industrial and Marine division of Rolls Royce based out of the UK installing and commissioning large power and gas compression units both on and off-shore in most of the oil and gas provinces worldwide.
His immediately preceding role since 2010 was as founder and Managing Director of public unlisted SWAN Oil & Gas Ltd which raised funds and acquired Joint Venture interests in an operated offshore and non-operated onshore exploration permit (Service Contract) in the Philippines. These assets were subsequently sold and the sale proceeds returned to shareholders.
Prior to this, for a period of in excess of 15 years, David was the West Australian business unit CEO for the US based multinational, CMS Energy and then ASX listed APA Group ultimately responsible for infrastructure assets in excess of $1 Billion and a direct workforce exceeding 250 located throughout the State. These WA assets included pipeline infrastructure of national significance along with oil & gas exploration and production activities relating to the Dongara L1 & L2 onshore fields and the development of the Mondarra underground gas storage facility to the north of Perth.
David has been a long term and active member of the CCI in WA including the chairing of several influential long standing energy and infrastructure related committees and sitting on the overarching General Council until he resigned in 2010 to concentrate on the set up of SWAN Oil & Gas Ltd.
The appointment of Mr King follows the recent announcement by the Company in relation to changing the nature and scale of its activities to an oil and gas explorer via an agreement to acquire a 100% interest in the Limnystka oil and gas asset onshore in Western Ukraine. The Company is continuing with its due diligence in relation to the acquisition and subject to this, expects to dispatch a notice of meeting to shareholders in due course.
 
Re: PTO - PTO Consolidated

I doubled my initial holding in these a month or so ago at 0.3/0.4c

PTO have released a company presentation which has seen the share price up to 0.6c with a large volume spike.
With a target float price of 20c and a projected consolidation before hand of 17:1 this represents a good premium on those numbers alone.
Subsequently it would be fair to assume that their will be selling on the restructure and admission to ASX, nonetheless good money if you can achieve it.

Final capital structure upon renaming of the company will be:
MC - $18m
FPO - 89m
Options - 5.9m
Performance Shares - 20m
Cash - $6m

For presentation see here
http://www.asx.com.au/asxpdf/20130620/pdf/42gks7dyjqs9qz.pdf
 
Re: PTO - PTO Consolidated

springhill said:
I doubled my initial holding in these a month or so ago at 0.3/0.4c

PTO have released a company presentation which has seen the share price up to 0.6c with a large volume spike.
With a target float price of 20c and a projected consolidation before hand of 17:1 this represents a good premium on those numbers alone.
Subsequently it would be fair to assume that their will be selling on the restructure and admission to ASX, nonetheless good money if you can achieve it.

Final capital structure upon renaming of the company will be:
MC - $18m
FPO - 89m
Options - 5.9m
Performance Shares - 20m
Cash - $6m

For presentation see here
http://www.asx.com.au/asxpdf/20130620/pdf/42gks7dyjqs9qz.pdf
Click to expand...

Looks like I scooped these at the right price, plenty of speculative buy volume in line at the moment ahead of restructure.

Due diligence completed.
http://www.asx.com.au/asxpdf/20130709/pdf/42gyldpxfn4hfp.pdf
 
On August 8th, 2013, PTO Consolidated Limited (PTO) changed its name to Cossack Energy Limited (COD).
 
springhill said:
COD shares resume trading today after restructure.
Click to expand...

COD performed a little better than I expected on it's first day considering that after the recon anyone who purchased sub 1.2c pre-recon was automatically in profit at 20c.

I was expecting a close around 14c, with the actual price of 16c.

Early trade dipped as low as 12c.

One to keep an eye on. It could go either way at this point in the mid term, sub 10c or plus 20c.

Who knows.
 
COD above its listing price for the first time, closing at 20.5c. Giving those who bought around the 0.4/0.5c mark before listing a profit of 296%!

Buy depth looking good, not much on the sell at this stage.
 
Cossack made new highs today on the back of unusually high volume (1.38m shares traded).

There has also been a push up on the buy side. If you look at the buy/sell bid volumes these figures were around even at the beginning of today.

Foyil Securities has initiated coverage with a target price of 27c, so I doubt the rise can be attributed to that.
 

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CLARIFICATION OF COSSACK ENERGY’S EXPOSURE TO THE CURRENT GEOPOLITICAL SITUATION IN UKRAINE

Due to significant shareholder enquiries regarding the current geopolitical situation in Ukraine, Cossack Energy Limited (“Cossack” or “Company”) would like to make the following clarifying comments for the purposes of shareholder information:

1) The current geopolitical situation has not directly affected our operations in country and we are
continuing our current operations as normal.

2) For clarity, Crimea forms part of Ukraine’s sovereign territory, it is largely self-governed and
therefore is an autonomous parliamentary republic within Ukraine.

3) Crimea is situated in the Southern Black Sea region of Ukraine and is situated over 1,100kms from
the Company’s operations which are close to the Polish border in the north western corner of
Ukraine.

4) The Oblast of Ivano Frankivsk, where the Limnytska license is situated, is bordering The Visegrád
Group, or V4 which is an alliance of four Central European states – Czech Republic, Hungary, Poland
and Slovakia. This group was formed for the purposes of cooperation and furthering their European
integration by means of military, economic and energy cooperation.

5) Cossack’s strategy has always been to acquire 100% owned licences that do not form a part of any
Joint Activity Agreements. This strategy was implemented to mitigate exposure of the Company’s
operations to a change of government or geopolitical instability.

In the last few days Cossack’s in country team has flown to Kiev to attend various meetings with the
incoming officials of relevant geological departments and oil and gas state institutions and the initial
feedback from these preliminary meetings has been positive.

The directors of Cossack will continue to closely monitor the situation In Ukraine and will provide updates
to shareholders as required.
 
Ukraine loses its subsidised gas from Russia's Gazprom.

http://www.bbc.com/news/business-26831678

Local supply is now more critical than ever for the Ukraine and may see projects fast-tracked to move towards greater energy self-sufficiency.

COD's project is near the capital, Kiev, so would require a near complete takeover from the Russians for current project status to be under threat.

If you have the stomach for high risk, COD could be a highly lucrative play.

It is possible that international crisis such as these do provide a buying opportunity who have the intestinal fortitude to pick some stock up at a discounted price.

So many variables in this to be played out yet.....

I have the stomach for it, we shall see if I am eating humble pie or caviar in 12 months time.....
 

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