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SAE - Salinas Energy

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Why the trading holt??? Does anyone know if there is anything to report about the company??? I cant seem to find an explanation for it anywhere.
 
Hmm
Trading halt lifted today.
SAE shot about 23% due to new acquisiton story.
No noise in this thread ?:rolleyes:
 
Not much to say i guess, seems like theres not a lot of interest in sae recently.

It is good to see a rise in the price to take me into positive again although i only have a small amount of these so i'll wait till they're back up to 60cents or so before i sell! And i do believe that will happen - eventually!
 
seasprite said:
For boardroom radio announcement refer to http://www.brr.com.au/event/59790 regarding neon energy and vietnam acquisition.
Click to expand...

Guess what one director bought 500000 shares at 12 cents.

He could have bought at 9 cents few weeks. So something just happening exciting.

I am holding and will hold to see what folds out in four weeks time.

Normally these directors get one month early signal and also not to be caught by ASIC flogging
 

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SAE acquire Neon Energy.
Neon Energy's Block 120 has potential of 1.3 billion barrels at 3 prospects alone and in excess of 2 billion at 16 prospects.
A director buys 500K of shares

and a 3c speeding infringement is dished out , how bizarre , do these idiots at ASX not read announcements .
 
seasprite said:
SAE acquire Neon Energy.
Neon Energy's Block 120 has potential of 1.3 billion barrels at 3 prospects alone and in excess of 2 billion at 16 prospects.
A director buys 500K of shares

and a 3c speeding infringement is dished out , how bizarre , do these idiots at ASX not read announcements .
Click to expand...

I think there are some intricate legal loop holes in this deal calling as if SAE acquired Neon. If you really see closely then it appears actually Neon took over SAE but on the paper showing otherwise. The new board structure, and strong position of Neon shares suggest me so.
 
I think the 'takeover' of Neon is a big plus for Salinas give many new and exciting opportunities in Asia, however there seem to be reserves in place but are they commercially viable and what does the future hold for Salinas???And yes i didnt understand the takeover it seemed as though we got almost taken over?
 
Does anyone know anything about Salinas the share price has been moving up a bit lately however this seems to be just on the back of stronger oil prices. Is there any other information or events that we should be looking forward to??
 
This capital raising by the company has really made me quite angry. The company issues new shares to 'supposedly sophisticated investors' at 13.5 cents locking in a handsome profit at todays close of 16 cents. I may not be one of these sophisticated investors however even i understand at 13.5 cents they are great value! There is often not much thought for the long term investors of these companies, i have held these shares for some time now and they go and make a placement to an institution. So what do i get in return?? i understand this money will hopefully be put to good use however the new shares help to dilute my current holding in the company. I would just like to see shareholders that have invested and put faith in the company to also be included when new shares are being issued. For a company that i have invested into and followed closely, i would like to be recognised and have the chance to participate in share issues rather than have institutions make a quick buck at my expense.
 
craig_oneill said:
This capital raising by the company has really made me quite angry. The company issues new shares to 'supposedly sophisticated investors' at 13.5 cents locking in a handsome profit at todays close of 16 cents. I may not be one of these sophisticated investors however even i understand at 13.5 cents they are great value! There is often not much thought for the long term investors of these companies, i have held these shares for some time now and they go and make a placement to an institution. So what do i get in return?? i understand this money will hopefully be put to good use however the new shares help to dilute my current holding in the company. I would just like to see shareholders that have invested and put faith in the company to also be included when new shares are being issued. For a company that i have invested into and followed closely, i would like to be recognised and have the chance to participate in share issues rather than have institutions make a quick buck at my expense.
Click to expand...

Craig

I do agree with you. Unfortunately now a days the directors are getting habituated with this practice and getting away. There are few only who are better here: PRU, SDL, BOW etc who have issued rights to their existing share holders as well.

They are cheating the share holders for their trust.
Instead of offering the share holders at discounted rate they are giving it to their preferred brokers. The brokers get commission and I am not going to be surprised if the directors get referral commission from those brokers as well.

ASIC is just lame duck to stop such practices:mad:
 
I have not been paying much attention to Salianas atm, is there any potential news on the horizon that may inspire an uplift in the share price??
 
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