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SNE - Somerton Energy

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springhill

springhill

Make the drill work for YOU
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Howdy Folks!

Essential Petroleum Resources (EPR) has rebadged itself to Somerton Resources (SNE).

Here is the link to the old EPR thread.....
https://www.aussiestockforums.com/forums/showthread.php?t=2413&highlight=epr
Joe, you may want to lock the old thread and provide a link to this one.

The link to their website is as follows.....
http://www.essentialpetroleum.com.au/index.htm

Their last quarterly report for those that are interested....
http://www.essentialpetroleum.com.a...Quarterly_Activities_Report_to31March2010.pdf

Current shares on issue - 1,317,510,498
Current share price - 0.07 cents
MC - $9.2 mill
Cash at hand at EOQ $56,000
 
Anyone know more about the Cooper Energy (COE) and Somerton Energy (SNE) takeover bid?

SNE shares have skyrocketed over the past few days.

RE: BPT: Proposed Cooper Energy merger with Somerton Energy announcement.

SNE jumped from 14c to 21.5c, now is retracing.

Might be worth a look this week to see price action.

Nevermind, price is already factored in. Bid is already at 21.9c... sp not far off that.
 
Chasero said:
Anyone know more about the Cooper Energy (COE) and Somerton Energy (SNE) takeover bid?

SNE shares have skyrocketed over the past few days.

RE: BPT: Proposed Cooper Energy merger with Somerton Energy announcement.

SNE jumped from 14c to 21.5c, now is retracing.

Might be worth a look this week to see price action.

Nevermind, price is already factored in. Bid is already at 21.9c... sp not far off that.
Click to expand...

It's a script based bid so SNE's movement will be pretty much linked to that of COE.
 
If anyone cares, BPT the majority shareholder in SNE, has decided to accept the take over bid by COE, It is yet to decide whether to accept the cash and script or all script offer.

Makes me wonder why BPT pumped so much into SNE when it was a train wreck and then without drilling a well has sold out. Could it be the acreage in the Otway basin is not so prospective? Otherwise it seems that COE has picked up a bargain. Any thoughts out there?
 
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