are they worth a gamble

lucky-colm

two companies that i think will come up in share price are mc inerney holdings and dragon oil. maybe they wont do anything but mc inerney is in for some big social housing govt.scheme in england if they land this contract the share price should move also. dragon oil then has just been made an offer of takeover from some other company again if this happens the share price should go up here. so if anyones got any thoughts on these i would like to hear it. iam not talking about investing big money in these just maybe a thou in each but a quick turnaround

cheers;)

pocketdooz

lucky-colm wrote: »

two companies that i think will come up in share price are mc inerney holdings and dragon oil. maybe they wont do anything but mc inerney is in for some big social housing govt.scheme in england if they land this contract the share price should move also. dragon oil then has just been made an offer of takeover from some other company again if this happens the share price should go up here. so if anyones got any thoughts on these i would like to hear it. iam not talking about investing big money in these just maybe a thou in each but a quick turnaround

cheers;)

both events should be baked into each company's shareprice already if you know about them. Dragon Oil is a fiercely volatile stock with good upside but equal downside. McInerney I wouldnt touch with a barge pole at the moment but then again what would I know . . .

silverharp

personally I only buy a stock if I was going to buy their index. At the moment I'd say most commodities are a sell , so although I know nothing about the company I'd at least wait for a decent pullback in oil or the XOI index.

lucky-colm

thanks guys i think i will leave mcinerney alone as the current crisis leaves them in a volatile position hard to know how much borrowings they have and how many worthless land banks they have they are probably to expossed and could go bellie up

dragon oil is pretty interesting do i think i will watch them for a while before investing. oil as a commodity is always valuable and the company itself seems pretty sound........

Raskolnikov

lucky-colm wrote: »

hard to know how much borrowings they have

No it's not. The debt figure is easily found in the annual report and it stands at €220 million. That debt is secured on highly valuable land and half completed houses in property hotspots like Waterford, Portlaoise and Northern England.

silverharp

Raskolnikov wrote: »

No it's not. The debt figure is easily found in the annual report and it stands at €220 million. That debt is secured on highly valuable land and half completed houses in property hotspots like Waterford, Portlaoise and Northern England.

There is no such thing as highly valuable land anymore, in the short term you might ask when to they have to refinance and could they get the financing and at what price

WarrenMuppet

Hi there,

Im a Dragon owner myself, as it stands a buy approach was made last week for Dragon.The share price shot up on the day, however the following day the buyer made itself known and it turned out to be the Emirates national oil company, which crucially owns 51% of dragon oil shares anyway, they stated they will only make a 'modest' offer for the company's shares. So us private holders are waiting and speculating on what 'modest' means. The hope is (and probably not a great hope) that a larger company (BP e.t.c) would come into the fray, which will drive the share on and up (this scenario would also suit Emirates oil as they would get a great price for their 51% as well.
Thats the state of play at present, good luck with it.

WM.

Raskolnikov

silverharp wrote: »

There is no such thing as highly valuable land anymore, in the short term you might ask when to they have to refinance and could they get the financing and at what price

I don't think I quite pulled off the sarcasm in my previous post.

McInerney is a dead man walking. The only thing that surprises me is that the receiver still hasn't been called in. I suppose that hasn't happened because the bank doesn't want to trigger a fire sale that would further devalue other development land that it might have lent against.

It really is terrifying castles in the air kind of stuff :eek:

silverharp

Raskolnikov wrote: »

I don't think I quite pulled off the sarcasm in my previous post.

McInerney is a dead man walking. The only thing that surprises me is that the receiver still hasn't been called in. I suppose that hasn't happened because the bank doesn't want to trigger a fire sale that would further devalue other development land that it might have lent against.

It really is terrifying castles in the air kind of stuff :eek:

he he , I never know around here, people still want to go long the Irish banks

stepbar

McInerney are, as Raskolnikov has put is it, "a dead man walking". When a company talks about looking towards other markets for business, during a recession, it's a sure sign the party is over. I mean FFS were the same opportunities not available long before this? FFS they are talking about going out looking for opportunities in the Gulf. What happened the last time they were out there? McInerney are looking desperate and have looked dodgy (as far back as 2008) - http://www.independent.ie/business/irish/mcinerney-bid-to-quell-fears-over-finances-1418355.html.

McInerney shares were worth 3.25eur during that period. They are now worth 15c. Do the math. The company is already more than likely in breach of their banking covenents. Furthermore if one looks at this diagram - http://www.mcinerneyholdings.eu/investors/financial_analysis/ - the suitation is quite stark. And then! look at this - http://www.mcinerneyholdings.eu/investors/financial_analysis/consolidated_balance_sheet/ :eek:

It's no wonder Barry O'Connor is welcoming Nama - http://www.rte.ie/business/2009/0514/presswatch.html

Comordha

I am a shareholder, you missed the boat a long time ago buddy

Black Swan

pocketdooz wrote: »

both events should be baked into each company's shareprice already if you know about them.

Agreed!