关注： CAX.TO

[liszt]

作者: Tiger04

It should be next Monday

The warrantswill be de-listed by the exchange on April 13, 2006. Trades taking place on April 11, 2006 will settle April 13, 2006 and trades taking place on April 12-13, 2006 will settle "cash", next day.

实际上昨天是最后一个交易日（对于想拿股票的朋友），今明两日仍然可以交易权证，但是没有资格拿股票了，只付cash

[liszt]

作者: Green888

非常感谢LISZT 大师的提醒， 今天买了CAX。WT 0。08 ，挂了0。11 没成交，最高反弹性0。105。 ，吃完中午饭在此期间 0。075 卖了。 另外卖掉了1/3 CAX （10K） ，抢了一点SAN。V，总算把CAX的LOSS 盖了。

以前从没有学过OPTION。

Thanks again.

前面有人叫李师傅，到你这里又变成大师了，实际上老李啥也不是，就叫老李好点，不过叫小李也行，显得年轻一些

[低手新手]

我算的结果好像不太好，不知哪里错了？

抛开PP，PPP比较悬的，单比较P较保险。

NGAS： http://biz.yahoo.com/bw/060207/20060207005607.html?.v=1
http://finance.yahoo.com/q/pr?s=NGAS

P：75 BCF (还没算其oil)，股票市值 175M us$现在 ;

CAX：

P: 18BCF （3MM boe, oil equivalent,油气总共)，股票市值170X1.2/1.1=185M
us$。

如果单按 proved reserve算，18/75＝0。24，24％X 175=42M us$,即CAX的市值应该是42M才对。

【我的计算原始数据和方法可能不准，所以计算结果或许有误（我也希望如此）。请大家自己查询并计算相关数据后再作交易决定,不要以本帖为准】

【声明：本人所有言论皆为个人观点，可能不准确不完全不符合实际甚至完全谬误，因此仅供娱乐和模拟,绝不构成任何交易推荐或建议；任何人据此入市，风险自负。】

作者: 又一村

两年以内，应该上看 $6

Assets: El Bibane, Ezzaouia, Robbana and
Al Manzah fields, plus 50% interest in SEEB
power plant
• Effective Date - January 1, 2005 closed
April 27, 2005
• Remaining 2P Net Reserves*
- 2.8 MMbbls & 13.6 Bcf
• YE 2005 Net Exit Production**
- 710 bopd & 0.4 MMcf/d
• Low Case 2006 Net Production Forecast**
YE exit - 2,300 bopd & 4.5 MMcf/d
FY avg. - 2,110 bopd & 3.5 MMcf/d

Chaal Exploration Permit (W.I. 60%)
• ABK-1 well tested gas and condensate
from several intervals at rates up to 3
MMcf/d plus condensate at 25 - 80
Bbl/MMcf
• 2P reserves of 60 Bcf and 3P reserves of
844 Bcf. Additional 1.1 Tcf prospective reserves

Exploration Upside - Deep Triassic Potential
4 km Section across Ezzaouia
W ZAR-1 EZZ-3 E
Triassic
• Two world class prospective
Triassic structures below Ezzaouia
and El Bibane C TAGI formation
• TAGI hosts huge reserves regionally
in Tunisia (Borma) and Algeria

Prospects have potential for 2 to 3 Tcf of Gas and 200 to 300 MMBbls of condensate
• Negotiations with Tunisian Govt. could lead to drilling by 2007

[Tiger04]

作者: 低手新手

我算的结果好像不太好，不知哪里错了？

抛开PP，PPP比较悬的，单比较P较保险。

NGAS： http://biz.yahoo.com/bw/060207/20060207005607.html?.v=1
http://finance.yahoo.com/q/pr?s=NGAS

P：75 BCF (还没算其oil)，股票市值 175M us$现在 ;

CAX：

P: 18BCF （3MM boe, oil equivalent,油气总共)，股票市值170X1.2/1.1=185M
us$。

如果单按 proved reserve算，18/75＝0。24，24％X 175=42M us$,即CAX的市值应该是42M才对。

1. NGAS only has "Proved developed producing reserves were 26.7 Bcfe, while proved developed non-producing were 7.8 Bcfe " = 34.5 Bcfe ("e" means include oil already!)

"the remainder were proved undeveloped." some company consider that is 2P only.

2. For 2P reserves, there is about 50% success rate to get it. that is why it is very important for the company. It should be counted.

3. you also should consider the debt and cash the company has. CAX has net cash and NGAS has net debt.

[whoami]

Actis Exercises 18,750,000 Candax Energy Warrants

CCNMatthews, Wednesday, April 12, 2006 at 10:15



TORONTO, ONTARIO--(CCNMatthews - April 12, 2006) -
Not for distribution to United States newswire services or for dissemination in the United States.

Candax Energy Inc. ("Candax") (TSE:CAX) is pleased to announce that it has been notified that Actis Capital LLP (Actis), on behalf of investment funds it manages, has issued instructions to exercise all of the funds' 18,750,000 warrants, representing net proceeds to Candax of $22.5 million. The funds exercising the warrants are as follows: Actis Africa Fund 2, LP: 14,682,656 warrants, the Actis Executive Co-Investment Plan, LP: 223,594 warrants and CIFA Investments, LP, (which Actis co-manages with Cordiant Capital ("Cordiant")): 3,843,750 warrants. Subsequent to the exercise of the warrants, Actis, and its co-manager of CIFA Investments, LP, Cordiant, will have control and direction of 56,250,000 of Candax's common shares.

In 2005, Actis, a leading private equity investor in emerging markets, made a pre-IPO cornerstone investment in Candax of $30 million. Actis is pleased to continue to support Candax through the exercise of the warrants.

Candax Energy is an international energy company with its head office in Toronto, Ontario, Canada and management offices in London, Dubai and Tunis. The Company holds a number of concessions in Tunisia through its subsidiary companies and is involved in the exploration and production of oil, gas and power generation in the country. Candax was formed through the combination of a highly experienced executive management team with successful Canadian founders and financiers, to develop an international upstream oil and gas project portfolio. Candax is initially focusing its growth activities on production and development projects in the Middle East and North Africa, where the group has strong relationships and extensive management experience.


FOR FURTHER INFORMATION PLEASE CONTACT: Candax Energy Inc. John Clarke Executive Vice President, Corporate (416) 361-2824 (416) 364-5400 (FAX) jclarke@candax.com www.candax.com or Pro-Edge Consultants Inc. Fred Cowans or Tracy Weslosky Managing Partners (866) 544-9622 or (416) 581-0177 info@pro-edge.com or Actis Ben McKeown Investment Principal +44-20-7234-5064 bmckeown@act.is


Companies or Securities discussed in this article:

Symbol Name
TSE:CAX Candax Energy Inc.

[liszt]

第一次关注加股的warrant交易，还得感谢村长这个帖子。

期权理论的一些精髓看来也是apply to 加股的，CAX愣是从1.48短短几天打到1.22（今天最低），几乎就是要将非MM手中的warrant变成废纸啊

机构自己的兑现买了股票，这是个好消息，对于该股的后市

[sqz999]

don't know if the company pay?

作者: liszt

The warrantswill be de-listed by the exchange on April 13, 2006. Trades taking place on April 11, 2006 will settle April 13, 2006 and trades taking place on April 12-13, 2006 will settle "cash", next day.

实际上昨天是最后一个交易日（对于想拿股票的朋友），今明两日仍然可以交易权证，但是没有资格拿股票了，只付cash

[liszt]

作者: sqz999

don't know if the company pay?

具体这个case不清楚，理论上似乎应该是这样的：

譬如你昨天或者今天0.05买了warrant，如果没有跑调，那么给你settle cash的时候应该是以今天delist的收盘价，当然收盘价格等于或者小于0.05，实际上就是废纸一张了，也就是说settle的cash为0，所以你现在就可以知道CAX这个股票今天会以什么价格收盘（如果有戏规则是这样的话）

[低手新手]

作者: Tiger04

1. NGAS only has "Proved developed producing reserves were 26.7 Bcfe, while proved developed non-producing were 7.8 Bcfe " = 34.5 Bcfe ("e" means include oil already!)

"the remainder were proved undeveloped." some company consider that is 2P only.

2. For 2P reserves, there is about 50% success rate to get it. that is why it is very important for the company. It should be counted.

3. you also should consider the debt and cash the company has. CAX has net cash and NGAS has net debt.

1。如果算2P的话，ngas 和cax都应该算，ngas 的也不少；
2。就算考虑debt,cax 股票市值怎么也不会比ngas大几倍这个数量级；
3。但看日产量：http://biz.yahoo.com/bw/060207/20060207005607.html?.v=1

LEXINGTON, Ky.--(BUSINESS WIRE)--Feb. 7, 2006--NGAS Resources, Inc. (Nasdaq: NGAS - News) today announced that production for the year ended December 31, 2005 was a record 1.8 billion cubic feet equivalents (Bcfe) and represented an increase of 112% over 2004's 860.7 million cubic feet equivalents (Mmcfe). Production in fourth quarter 2005 was a record 509.5 Mmcfe, an increase of 41% over the same period in the prior year. Net daily production at year-end 2005 was 8,500 Mcfe/d compared with 3,925 Mcfe/d at year-end 2004.

cax日产量是多少？预测又是多少？比ngas少还是多？我草估了一下cax 和SWN，似乎结果也不乐观。ngas 和swn当时是我重点关注对象。

4。就算今后cax真的涨了，恐怕也只能是其他原因（如真的不断有新发现；机构参与等）。就目前来看，其现有储量支撑股价上涨几倍，或许底气不足。

无论如何说服不了我自己。不像2块钱的CWPC让我信心满满。

【声明：入市前，读者应该自己查询一切数据并计算；本人所列数据及估算仅供参考，不能构成任何计算或入市根据。】

【声明：本人所有言论皆为个人观点，可能不准确不完全不符合实际甚至完全谬误，因此仅供娱乐和模拟,绝不构成任何交易推荐或建议；任何人据此入市，风险自负。】

[liszt]

cax上周收盘价格1.25，最后的warrant都变成废纸

[gzlbj8]

CAX.TO

[又一村]

Candax Announces Drilling Update on Chaal-1 Well
10:22 EDT Friday, April 21, 2006

TORONTO, ONTARIO--(CCNMatthews - April 21, 2006) -

Not for distribution to United States newswire services or for dissemination in the United States.

Candax Energy Inc. ("Candax") (TSX:CAX) is pleased to provide an update of the Chaal 1 well onshore Tunisia. Drilling operations have been completed and the well was drilled to a total depth (TD) of 4,600 metres, some 150 metres deeper than originally planned. TD was reached on April 16, 2006 and logging commenced on April 18, 2006. As announced on April 10, 2006, an intermediary logging run was planned once well control was re-established. However, as well control was eventually achieved at considerably higher mud weights than anticipated, the decision was taken to continue drilling to TD prior to logging.

Initial results of logging indicate that a gross reservoir interval of approximately 450 metres was penetrated in the Lower Nara, Jurassic formation, comprising limestone, argillaceous limestone and shale/claystone. Logging continues and the well test plans are being finalized with partners over the next few days. More detailed logging interpretation, together with details for the well test program are expected to be announced during the week of April 24th.

[Green888]

Candax to begin testing Chaal 1 in seven to 10 days


2006-04-24 09:16 ET - News Release

Mr. John Clarke reports

CANDAX ANNOUNCES FURTHER DRILLING UPDATE ON CHAAL-1 WELL

Candax Energy Inc. has provided further information for the Chaal 1 well onshore Tunisia. As previously reported the well reached TD at a depth of 4,600 metres and logging operations began on April 18, 2006.

The initial results of logging indicate that a total gas-bearing section of about 450 metres was penetrated by the well in the Middle/Lower Nara, comprising limestone, argillaceous limestone and shale/claystone. A gross limestone section of approximately 200 metres is present within this gas-bearing section, with a net reservoir interval of approximately 90 metres.

As previously reported numerous strong gas shows and kicks were experienced during drilling. Rig site analysis of the gas indicates that there is no H2S present and the CO2 content is about 0.4 per cent and that there is condensate present in the gas. A full gas analysis will only become available once samples have been taken during testing.

It is anticipated that testing of the well will commence in the next seven to 10 days following the installation of the production casing and other equipment required because of the high reservoir pressures (in excess of 10,000 pounds per square inch). Given the nature and thickness of the gas-bearing section it has been decided to carry out three separate tests. It is expected that testing will take about three to four weeks to complete, subject to operational considerations.

Michael Wood, president and chief executive officer, commented: "The initial log interpretation of the Chaal well is very encouraging and we now eagerly await the test results to determine the productivity of gas and condensate from the reservoir. Our technical analysis suggests that the overall volume of hydrocarbon per square kilometre is broadly in line with our predrill expectations. Clearly, the commercial potential of Chaal could be very significant for Candax."

We seek Safe Harbor.

[gzlbj8]

Only hold CAX.TO. Let's see what gonna happen.

[风-云]

一路向北

[Green888]

Apr.26/27th Presentation - webcast link

http://www.newswire.ca/en/webcast/vi...ventID=1405800


I will add more and hold it.

[又一村]

Webcast Posted By: scotpiper

http://www.stockhouse.ca/bullboards/...ll=0&TableID=0

You are correct that it did not offer anything new.
However they are only anticipating 4-5 MMCFD from Chaal.
If infact they have 800 BCF of gas........I am wonder if the 300 - 500 million to NAV refers to exactly what.

As 800 BCF @ 60% interest = 480 BCF. 480 BCF's at $6.00 per 1,000 CF=$2.88 billion. 2.88 billion into lets say 200 million shares = $14.40 per share. That ios where I get confused.

What I do like is $1.48 increase for fully risked and $5.80 unrisked.

Current NAV was stated at $1.05 per share therefore:

$1.05 + $1.48 = $2.35 Fully Risked
$1.05 + $5.80 = $6.85 unrisked.

So as long as they hit something we should be between $2.35-$6.85, At least that is what heard.....is this what was said??


这些数据都是来自公司的真实报告。

[McStudent]

作者: liszt

前面有人叫李师傅，到你这里又变成大师了，实际上老李啥也不是，就叫老李好点，不过叫小李也行，显得年轻一些

怎么有人把老李跟法轮功扯上了，李大师是李洪志

[PennyMaker]

10天的drilling 应该有消息了。in 1.34 10k

[PennyMaker]

moving now!