Jasper   

Jasper investment - Another hidden gem

It is a piece of good news for Jasper ... and Jasper needs cash from shareholders by issuing more right shares .... and then consolidate ....... In the end, the Jasper management get the deal, shareholders pay for the deal .......... This is going to be a long term investment to get our returns... hopefully many folds ... like E3 and Jade...

 

Some details of.....page......might make it into the big oil rig business. Yahoo

2.1 Information on the "Sedco 708"

The "Sedco 708" is a 2

Save for the "Sedco 708", all the other rigs in the series have either been reactivated or are currently under activation. Neptune Marine plans to upgrade the "Sedco 708" to an intermediate deepwater drilling unit

2.1 Information on the "Sedco 708"

The "Sedco 708" is a 2

Save for the "Sedco 708", all the other rigs in the series have either been reactivated or are currently under activation. Neptune Marine plans to upgrade the "Sedco 708" to an intermediate deepwater drilling unit nd generation semi-submersible drilling rig originally built by Kaiser Steel Shipyard in California in 1977 and is part of the Sedco 700 series drilling rigs. It is one of 10 similar designs built in the 1970s. The original structural strength design allows the rig to operate worldwide.

2.3 Rationale for the acquisition of the Drilling Rig

Neptune Marine acquires low-cost offshore drilling rigs, refurbishes and re-activates the rigs with present-day drilling equipment. The drilling rigs are then contracted out to major oil and gas exploration and production companies for drilling services. This business model provides Neptune Marine with several competitive advantages over new-build offshore drilling rigs; in particular, much faster delivery time, lower capital cost and an increased level of customization to meet customers? specific needs.

The Group currently owns drilling rigs in the form of 2 drillships; the Neptune Discoverer ("

The Discover, which completed its upgrading at end 2006, had completed its first contract in November 2007. Neptune Marine has entered into a 4-year contract with the Venezuelan state oil company, Petroleos de Venezuela SA for the charter of the Discoverer at a net day rate of US$312,800 (after withholding tax and social program contributions). The Discoverer is currently en route to Venezuela and is expected to commence drilling in April 2008.

The Explorer is currently undergoing completion of refurbishment and upgrading works in Singapore. Upon completion of its upgrading works, expected to be in the 2

The acquisition of the "Sedco 708" will allow the Company to expand its existing fleet of drilling rigs to capitalize on the strong industry outlook. It is expected to contribute to the earnings of the Group upon the completion of its upgrading and successful deployment. The Company is currently evaluating opportunities for contracts at water depths up to 5,000 feet for the drilling rig. Discoverer") and the Neptune Explorer ("Explorer"). nd quarter of 2008, the Explorer will leave for India under a 3-year (with option to extend for another 3 years) contract signed with Reliance Industries Limited , one of India?s largest private sector company at an average net day rate of US$298,000 (after withholding taxes).nd generation semi-submersible drilling rig originally built by Kaiser Steel Shipyard in California in 1977 and is part of the Sedco 700 series drilling rigs. It is one of 10 similar designs built in the 1970s. The original structural strength design allows the rig to operate worldwide.

 

 AcquisitionSedco708.pdf

source from www.ses.com.sg

 

How come never cheong hah...?, me, vested many donkey years back..sian ahh

Jasper    Last:0.015   Vol:911k    -0.0050

Time	Last	Volume	Bid/Ask
13:59:02	0.015	100,000	B
10:21:55	0.015	11,000	B
09:37:50	0.015	100,000	B
09:07:31	0.015	200,000	B
08:59:03	0.020	500,000	B

 

anybody know when is the consolidation date? the news has been around for sometime but there is no date yet.

 

Good news for all Jasper shareholders.

Vested

 

Hi Friends Check This...

ACQUISITION OF THE DRILLING RIG "SEDCO 708"

INTRODUCTION

The Board of Directors of Jasper Investments Limited (the "Company") is please to announce that its subsidiary, Neptune Marine Oil & Gas Limited ("Neptune Marine" or the "Buyer"") has today entered into a Memorandum of Agreement ("Agreement") with Zelie Industrial Limited ("Seller"), a Cypriot incorporated company, to acquire a drilling rig, the "Atlantic Venture" otherwise known as Sedco 708 ("Sedco 708" or the "Vessel"), for a purchase price of US$67 million ("Purchase Price"), payable in cash.

 http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_28046F192EFFC010482573FA003B04DB/

 

after the consolidation, i believe this counter will cheong.

 

after so many news tis counter also not moving

when will it cheong........................................

 

Let me add another presumption: At the rights issue 2 rights per share at 2c each which will mean 3x of the share (market) capitalisation of which $191.58m will become $574.76m. That is after the suscription of rights the total number of shares (max) will be 28.738billion shares. After the consolidation of 25:1 will be 1.14billion shares. So theoritically, it would be 50c. However, the Jasper co provides the figures in the sgx annc that the share capital will be $420m, so it is value at 36c a share after everything. Still we have to wait for the new FY reporting on the oil rigger earnings to project the PE ratio. Suppose (my estimation)the revenues of the Explorer and Discoverer total up to S$300m and the profit margin is 30% which will be S$100m and is about 8c/share (for new 1140m outstanding shares). I think the price projection is very attractive, though I am optimistic.

 

Hi, anyone knows what price will Jasper be after the rights and consolidations? Not sure if my calculation is right. Taking jasper current price of 0.02 cts and 2 to 1 shares rights at 0.02cts, we should divide the 0.02 by 3 to get a value of 0.00667cts. After consolidation of 25 shares to 1 share, we times 0.00667cts by 25 to get value of 0.167cts. So, after the exercise the share value should be 0.167cts?? Please advise on the above. Thank you.

 

Sell volume for 0.025 suddenly decrease by at least 20 million, someone must have depressed the price by placing a huge order there to "scare off" others to sell to him at 0.02.

 

Its proposed, subject to approval from SGX. Anyway, anyone here intend to get more rights when the rights are available for trading?

 

I don't see any Right Issue and when will it be and when will it goes XR?

market condition is still not good and wonder if there's any potential?

 

 

http://www.neptune-marine.net/pix/innhold/corpchart19092007_small.jpg

 

 

 

Like I said, it depends on market condiions. Very hard to tell. And I don't think I am the biggest shareholder. Check the earlier threads and you will notice wadrian has 9 million shares.

The rights will be traded on a seperate Jasper R market a few days after ex-rights. You can sell them there.

 

Hi, Mr Terencefok,

I have same problem on the money. How to sell the rights to pay off some borrowings?

 

Hi Terence, you seen to be the biggest shareholder in this forum.  In your opinion, how much you expect the price will be after the consolidation.

 

I think shareholders who can afford the rights and want to see the company grow in this new business would take up the rights to enable the company to fund for their acquisition. But I am expecting subscription rate of about at least 80%. This would be more than enough to fund their purchase.

 

Thanks, Mr Terencefok, for your reply.

Though the company has the right to determine the price of its right issue, as the price of the proposed right issue is 2 cts, i.e. same as the current market price, who would want to take up the rights?  I am confused.  Vested.

Your comments please. 

Thank you very much.