MOVERS FRIDAY 25 SEPTEMBER 2020
(WMH) announces speculative OFFER from Apollo Management sends shares up 31%
In response to press speculation, William Hill announced it had received separate cash proposals from Apollo Management International LLP (together with Apollo Global Management, Inc. and its other subsidiaries, "Apollo") and Caesars Entertainment, Inc. ("Caesars").
The initial written proposal was received on 27 August 2020 which was fooled by a further proposal from Apollo and Caesars.
Whilst discussions are clearly ongoing, and no deal can be assured, investors certainly expected the deal to happen buying WMH shares up to 281.75p.
Pantheon Resources (PANR) shares jump 20% following Resource Report
Panthoen published its Independent Expert Report and Resource Statement from the International Petroleum Consultants Lee Keeling & Associates, Inc. ("LKA") on the Shelf Margin Deltaic ("SMD") horizon at its 89.2% owned Talitha Project.
The SMD is the shallowest of 3 targeted horizons at Talitha: (i) the SMD, (ii) the Slope Fan System, and (iii) the Kuparuk, all of which are independent of one another and all of which were oil bearing in the nearby Pipeline State #1 discovery well drilled in 1988.
The directors were pleased to announce that LKA have confirmed a Prospective Resource of 302 Million Barrels of Recoverable Oil for the SMD horizon at Talitha.
(ALBA) shares recover a further 18% to 0.41p
Alba Resources shares continues their recovery toward its all-time high of 0.42p post the placing.
The placing, announced on 21 September, raised £1.3m (before expenses) at a price of 0.275 pence per ordinary share.
Shares in ALBA have more than quadrupled over the past three months from 0.07p to close today at 0.425p
shares advance 10% following Spud date announcement
Bahamas Petroleum announced that the Stena IceMAX drill rig for the upcoming Perseverance #1 drilling campaign is expected to be on site around the 15 December.
Stena IceMAX is one of the most advanced drillships available anywhere in the world, having first entered into service in 2012. It is the world's first dynamically positioned, dual mast ice-class drillship. The Stena IceMAX is a Harsh Environment DP Class 3 drillship capable of drilling in water depths up to 10, 000ft. The IceMAX has on-board 2 x BOP's, each 18¾" x 15,000psi Cameron "TL" BOP c/w ST Locks, and uses Cameron Load King riser. A Managed Pressure Drilling system is fully integrated into the IceMAX.
This means that Perseverance #1 would be expected to spud prior to Christmas 2020.
Shares in BPC have recovered from lows of 2p over the past three months to close at 2.675p.
and shares fall 22% and 18% respectively following takeover delay
On 28 August 2020 the boards of Integumen plc and Modern Water plc announced a recommended all-equity offer to be made by Integumen for the entire issued and to be issued share capital of Modern Water.
Under Rule 24.1 of the City Code on Takeovers and Mergers, the Offer Document, which will contain further information about the Offer, and the Form of Acceptance, are required to be published within 28 days of the firm intention to make an Offer (i.e. by no later than 25 September 2020).
With the agreement of the Independent Modern Water Directors, Integumen has obtained approval from the Panel on Takeovers and Mergers to extend the deadline for publication of the Offer Document, suggesting the Company has encountered delays in procuring the paperwork or the requisite acceptances for the offer have not yet been received.
Integumen currently expects that the Offer Document will be published by Friday 9 October 2020.
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