Harbour Energy Share Discussion Threads

[leoneobull] 25/11/2016 16:32

So bonds not distressed, no d for e and paying for remainder of catcher out of turnover rather than increasing debt.Each day refinancing delayed we save 1.5% in interest since we are only paying 4% now.

[leoneobull] 25/11/2016 16:28

Ny boy. As welcome as a tax inspector

[ny boy] 25/11/2016 16:24

Mreasygoing, no need to worry about the Saudis they have loads of dosh, unlike the bulls here, seeing their shares devaluing by the month


Tks for the correction!

[alphapig] 25/11/2016 16:18

Seems a bit ironic everyone wants OPEC to cut production yet no one wants oil producing companies as a whole to cut, lol.

[mreasygoing] 25/11/2016 14:47

A cut is pretty much a certainty, but it's the amount that will be propel the market. The Saudi economy is ruined if oil remains below $75 for much longer.

[nav_mike] 25/11/2016 14:26

Well theres our major shorter in the last couple of weeks revealed....

GLG Partners added 0.54% or 2.75m shares to their position since the 11th

Edit - just seen they are part of Man Group PLC

[ny boy] 25/11/2016 14:19

All lot of deluded comments, it's more likely any cut will not be agreed by some Countries, forget about cuts greater than expected. This one is still on life support, nothing to get excited about.

[puzzler2] 25/11/2016 11:09

I think you might be right mreasygoing - it's last chance saloon for OPEC if they don't want to be seen as "the boys who cried wolf".

[mreasygoing] 25/11/2016 10:06

I actually think that the cut will be greater than expected. Watch for a spike in oil.

[olivert] 25/11/2016 10:00

With Iraq confirming they are going to cut production....

that leaves just Iran to agree (one country with three days to go before the OPEC meeting...

[leoneobull] 25/11/2016 09:38

This will be 3£ next year by year end. Dyor

[ny boy] 25/11/2016 08:22

Below 55p sell, if this can't get above that level of support, no hope for the bulls.

[ny boy] 25/11/2016 07:25

Oil pulling back again

[steve73] 25/11/2016 02:10

>>> adh0 24 Nov '16 - 12:06 - 22061 of 22074 0 0
>>> Can anybody tell me exactly WHICH covenants we are currently breaking?

As I understand it, our max allowable debt is 3x the EBTIDAX. It was originally based on the 12 month period end june '15 to end june '16, but has been continually deferred at every month end since then (presumably since we would have defaulted). Looking at the upcoming nov-nov period; in Nov 15, the oil price was around $50 (I don't have the exact figures to hand), which is slightly higher than the current month which would replace it. But remember that we have a much higher production rate during nov16 than during nov15, and also with a lower G&A and OPEX cost. It's my estimate that nov-nov will yield a slightly higher EBTIDAX than the oct-oct period, but whether it will be enough to satisfy the covenant test is unclear to me. I think it all comes down to CAPEX spend. IMO this is probably also declining as field works for Catcher are nearing completion, but it will ramp up again next year once the FPSO arrives on station and commissioning gets underway.

I agree with your suggestion that we may nor actually NEED to restructure/refinance (from a covenant default standpoint) provided OPEC can ratify their agreement to limit oil supplies and IF the oil price manages to increase to over $50, but as you say there may still be some benefit in CHOOSING to do so, perhaps in order to strengthen the balance sheet, and/or to extend the loan repayment periods, (especially if it can be achieved on reasonably good terms).

Things should become much clearer at this coming month end, once OPEC makes it position clearer.

[ny boy] 24/11/2016 19:28

I'm so popular, someone has wasted their time trying to copy me..there is only one NY Boy


Well I have been right to date, all rises have been sold and now we are nearly the end of the equity bull run since 2009, once interest rates rise in the US next month, that will signal the top is either in or not far off..if this can hold 55p, not so far, then there is a 10-20% beer money grab but not unless the share price closes above 55p support.

I'm in no hurry, I just buy blue chip Oil plays like BP etc. on any decent dips and add for long term holds and enjoy a nice healthy divi..I like to sleep well at night..these tiddlers can easily wipe you out, it happens very often.

[ny_boy] 24/11/2016 19:00

I think this is ripe for a takeover at this bargain price

[ny_boy] 24/11/2016 18:49

Looking for a good opening tomorrow!

[emilio] 24/11/2016 17:48

NY Idiot LOL filtered long Time ago !

[fitton] 24/11/2016 17:00

Bonds still on the rise.

[whiskeyinthejar] 24/11/2016 16:41

There's bit about pmo / enq in today's investors chronicle.

Says they have faith pmo will emerge bruised but not broken from final stages of restructuring negotiations. However, they say terms of restructuring are rarely as lucrative as equity hope.

So they are neutral on Premier and recommend 'Hold'.

[ny boy] 24/11/2016 16:31

Sinking feeling for the bulls, no good news around, short term is dire for the bulls.