could be back to 0.3

pnmk2009 (pnmk2009)
本文发表在 rolia.net/zh 相约加拿大网上社区枫下论坛
Candax Energy (TSX: T.CAX, Stock Forum) shares climbed more than 31% to 14.5 cents Monday, as posters weighed in on buyout rumours involving the company.

Candax released no news Monday, but Stockhouse member Zapper posted a link to an article in UK newspaper The Independent on the weekend, which noted that London-based Vanguard Energy “is mulling a bid for Toronto Stock Exchange-listed Candax Energy.”

“It is believed that Candax, which has operations in Tunisia and Madagascar, could fetch around US$40m (£24m). A sale would be ideal, as the falling share price has constrained the company's ability to raise new equity or access loans needed to develop its assets,” said the article.

Back in June, Candax, which is involved in exploration and the production of oil and gas and power generation in Tunisia and holds an interest in an exploration permit in Madagascar, announced that it had engaged Scotia Waterous to assist it in “unlocking the undervalued potential of the Company's shares” by examining a range of strategic alternatives, including equity investments or various corporate transactions.

At the time, the company said it had been considering potential business combinations or other transactions which could enhance shareholder value.

In response to the UK article, Banker101 noted:

Not surprised as to a possible takeover, 40 mill, hummmm. I suspect considering the # of outstanding shares coupled with oil bouncing around $70 and the US exchange rate around 11% it's a possibility, BUT, that would cap share value in the .30 + area and make it difficult to recover to their former share price of something over $1.00 + Perhaps July 6 2009 when Tristone put out their Outperform the market with a target of .30 they may have had good reason........ One way or another, be it Sept or later this year we will be looking at a share price heading for .30 +

And, Fusaichi777 said: “I agreed, buyout will probably be shareholders best interest because I don't think the SP will go to $1 anytime soon”…
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2009-8-17 -04:00
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