Harbour Energy Share Discussion Threads

[deanroberthunt] 23/2/2017 11:38

they've got till May, this could be tin hats for a while

[marvin9] 23/2/2017 11:36

Have to say Posting below is probably a true reflection of what happened:


begorrah88
23 Feb '17 - 10:40 - 25317 of 25327    1   0
I wonder if part of the horse trading over the bonds involved an agreement to allow the bond holders a big window to make their killing at PI's expense?

BH: We'll want a big window before we will agree to anything
PMO: OK, how long?
BH: Don't know yet, we'll let you know once we've seen how far we can take this
PMO: OK, but I'll have to give the markets an indicative date
BH: Do what you need to do but we'll agree a lock in when we are good and ready and you can whistle until then.
PMO: OK thanks - we'll say we've 'requested' the lock in agreement by end of Feb, is that OK?
BH: Whatever

[deanroberthunt] 23/2/2017 11:16

but they don't have $2.8m debt, they have net cash

[marvin9] 23/2/2017 11:14

At this rate Rockhopper is worth more than PMO and they have nothing

[marvin9] 23/2/2017 11:10

Damage limitation, Fat Tony is driving a dodgem car and still crashing it into everything he can.

Nope he has to go!

Off with his balls... if he has any, and off to McDonalds he should go as chief salt shaker.

[begorrah88] 23/2/2017 11:06

That was the position when POO was very low and Capex was forecast much higher.

The deal did not change through 8 months of negotiations and the upshot was a deal that was bias toward everyone bar the shareholders.

It still isn't a done deal yet and in the middle of that time TD completely misread the situation. If that was the position he was negotiating from no wonder we've been shafted. He didn't understand what was happening.

Don't forget the share price was trading at 97p before the deal was announced - the whole market was expecting much better

[deanroberthunt] 23/2/2017 11:01

they weren't in the driving seat Marvin, they were negotiating from a position of weakness....their main concern was to keep the company afloat so they kept their jobs.

it was damage limitation

[deanroberthunt] 23/2/2017 10:53

If it helps ENQUEST is flat and VOG is up....

[begorrah88] 23/2/2017 10:40

I wonder if part of the horse trading over the bonds involved an agreement to allow the bond holders a big window to make their killing at PI's expense?

BH: We'll want a big window before we will agree to anything
PMO: OK, how long?
BH: Don't know yet, we'll let you know once we've seen how far we can take this
PMO: OK, but I'll have to give the markets an indicative date
BH: Do what you need to do but we'll agree a lock in when we are good and ready and you can whistle until then.
PMO: OK thanks - we'll say we've 'requested' the lock in agreement by end of Feb, is that OK?
BH: Whatever

[marvin9] 23/2/2017 10:36

Placing???????????? a very cheap takeover with the banks cashing in megga

[marvin9] 23/2/2017 10:30

What legal corruption for the select few?
I better burn all my investing books and start all over again.

Just googled a new book to read:

'HOW TO LEGALLY SCAM THE MARKET WITH THE FULL SUPPORT OF THE GOVERNMENT AND COMPANY DIRECTORS'

[wantmorethan24p] 23/2/2017 10:25

thats how the stock market works.

[frontdoor bull] 23/2/2017 10:24

All the hallmarks of a placing here, ?

[begorrah88] 23/2/2017 10:23

...and there's your rinse and repeat down to 73p

[begorrah88] 23/2/2017 10:23

Yep, TD as the bank manager saying 'I'm as frustrated as you' while holding the door open for the bandits.

You've got to reflect on that interview he gave when he said he expected the financing to be completed within weeks. He also said he was expecting a rise in the sp

Co0mpletely wrong on both counts - did he not consult the house brokers or did they give him a bum steer? as an accountant it is hugely worrying that he doesn't know the consequence of his actions and misled anyone watching that interview.

[deanroberthunt] 23/2/2017 10:21

has Biggie been at it there azwell ? getting round a bit

[wantmorethan24p] 23/2/2017 10:20

calm down.
its been happening to us at Genel energy

[theelectrolyte] 23/2/2017 10:02

Volume up - sometimes a sign.

Struggle to let stuff like this effect me, same when it took a dive to 50p and people were panicking and same when it went to 99p and everyone was laughing.

Two steps forwards, one step back. If you believe in the fundamental position then you need the mindset to accept volatility, regardless of how unjust you think it is at the time.

[begorrah88] 23/2/2017 09:52

....and there's the next volley of sells to take it down.

It went quiet for a while with the sells [maybe MM's read the boards and were waiting for a call but I doubt it!] which is usually the softening up period. They allow a period of normal trading [no buys hitting the book though - they were being headed of at 74.45p so didn't become AT buys] then a raft of AT sells taking anything off the bid back down to 73.5p - for now.

A fight back of a raft of buys but completely ineffectual as the same process gets follwoed and then a couple of AT sells at the end to put it back at 73.5p

The amount of ammunition the shorters have is phenomenal.

Begs the question of why the house brokers - Jefferies - are not doing a blind thing about assisting the company here - just standing back and letting it happen [don't recall Jefferies advising any of their clients to be wary of a 20%+ sell off due to the convertible bonds yet they say it is fairly common in this sort of finance deal!