Harbour Energy Share Discussion Threads

[nav_mike] 12/5/2017 15:40

Hmmm only just seen that SFO investigation into Petrofac

No doubt thats been used as the latest reason to sell down PMO

[oilretire] 12/5/2017 15:18

Meanwhile, back at the coal face........



...........has won an order worth USD 500,000 to supply API 610 OH2 booster pumps to Premier Oil for the Solan development project in the UK North Sea.

The API 610 OH2 process water booster pumps with Plan 53B seal support systems will be installed on the Solan platform, located in the North Sea, west of the Shetland Islands, in 135m deep waters. The operator, the British independent oil company Premier Oil, is expected to build up production to between 20,000 and 25,000 barrels of oil per day from the field which has an estimated life of 20 years and has entailed the drilling of four subsea wells, two producers and two water injectors.

The pumps were required on a quick turnaround as they were added to the requirements late in the project and had to fit existing tight space restrictions.

[begorrah88] 12/5/2017 15:01

Here's what we do know

A rising POO does not stop PMO falling
Volumes of buys exceeding sells does not stop PMO falling
Solid operational data does not stop PMO falling
Confirmation that the 75% lockup was agreed does not stop PMO falling

The last significant rise was as a result of a newspaper article saying the finance was resolved. The market then discovered that wasn't the case and all gains taken back.

We still don't know when, or even if, the financing will be resolved but the increase in shorters tells me that they do know and it won't be at the time we have been told [my opinion only].

All investments placed on fundamentals have now moved into the category of a 50/50 punt & it feels like we've been backing a losing horse for a long time and are now hanging in there out of sentiment rather than expectation.

Oh, and TD got a payrise - we do know that

[begorrah88] 12/5/2017 14:49

With TD at the helm I'm sure you'll get plenty more opportunities to top up sub 60p.

Who knew,when he said in September that he thought it would be resolved within a fortnight and was looking forward to the share price rising, that we would be visiting these depths so regularly.

NAV [Mikey admin?]

If we should get info that suggests shorters etc had insider info then there are plenty of us who will be climbing all over the FCA

[timothyjones2010] 12/5/2017 13:19

It's a disgrace - the situation is worse than the vwap period and to think the company is supposed to be in better shape, well allegedly. Tullow, RDSA down, bp up - PMO on another planet

[glenkaz] 12/5/2017 13:07

Crazy! Think Mr d might have summit to do with it! From Lse! He don't sound right!

[nav_mike] 12/5/2017 12:57

Oil price improves and we get sold down again to lows of day

If theres bad news in the trading update, there should be a full blown insider trading investigation into PMO....fat chance

[begorrah88] 12/5/2017 11:39

We've seen a few 250000 buys[?] go through over the last few days such as late reported yesterday and today at 10.22 [although the price suggests a sell].

It wouldn't surprise me if they are shorters buying their stock back in a block to repeat the feeding onto the book as small AT shapes.

[begorrah88] 12/5/2017 11:11

'...once the refinancing is finalised.....'

That's the problem - been waiting nearly a year so far, Markets don't believe it is coming anytime soon and none of us know what further dilution is heading our way.

I put no store by TD's assertion that the refinancing is not materially dilutive as his understanding differs to what the data tell us.

[begorrah88] 12/5/2017 09:37

It is giving a flavour of the hedge funds digging into all the smaller oilers today as if they are ready to tug POO down, or that they expect that to happen, using the oilers as their downside leverage while maybe buying POO?

[glenkaz] 12/5/2017 08:58

Now be interesting to see Brent break 51! See if we stay red! I really don't get this 💩 But hope this time I'm gonna win! After heavy losses here! Been stuck now since 64p buy in a couple of weeks! £4500 down but went £12k down in a few days! 👺👹 mm's you can f/ck yer selves shake all you like!! I want 74p!!!!

[leoneobull] 12/5/2017 08:52

TD has over 16m shares. the potential gain on those - should this ship turn around - is way in excess of his salary and bonus. Alignment of interest is a good start but agree we need to get some material good news plus legal finalisation of refinancing to see the share price shift

[timothyjones2010] 12/5/2017 08:50

It's disappointing, the management of PMO don't give a toss. At some point I can see private investors just walking away and never coming back.

[nav_mike] 12/5/2017 08:36

Lets face it...shorters go for companies they think are over valued or badly run.

Throw into the mix a shedload of cheap warrants and this is what we get.

Shareholders are of no consequence to PMO and Durrant...he gets his fat bonus for 'rescuing' PMO and the debt holders get to do whatever they like.

[begorrah88] 12/5/2017 08:27

NAV

I feel the same if TD lets everyone down again [bar the shorters obviously] if he fails to get financing done by end of May.

I'm sure all these shorters know what will happen

[volsung] 12/5/2017 08:24

Normal service is resumed

[begorrah88] 12/5/2017 08:22

Based on the current correlation with POO - Brent would have to rise to over $70 for PMO tp even reach the 74p VWAP alignment

[begorrah88] 12/5/2017 08:15

I wouldn't be surprised if they take a sharp dart down again today.

Been a distinct lack of buying as a result of yesterdays capital markets day

[bigsi2] 12/5/2017 08:13

Short positions increased again

[nav_mike] 12/5/2017 08:09

LOL no trades in first 7 mins...thats unusual

I guess TD really wowed em at the Capital Markets Day :)

Edit..ahh here they come - all sells naturally