Harbour Energy Share Discussion Threads

[emilio] 17/3/2017 20:04

????????????????????

[marvin9] 17/3/2017 19:26

Emilio can't understand you your not on filter ?

[emilio] 17/3/2017 19:12

Starving can't understand you on filter !

[emilio] 17/3/2017 18:40

STARVING were you been when you are needed ?

[cumnor] 17/3/2017 17:49

Depends on your entry price.

[marvin9] 17/3/2017 17:41

How the hell can it be a good week, the share price crashed and burned from 95p to 54p lol

[asa8] 17/3/2017 17:27

The drive down in Tullows share price just proves how bent the stock market is there is always someone who knows more.

[cumnor] 17/3/2017 16:44

Been a good week for PMO, considering. A lot stronger than I expected and given Tlw's woes we should be reasonably pleased. So far. imo

[nav_mike] 17/3/2017 16:36

Quite a strong closing auction on whats been a quiet day

Over 1.7m in buy orders went unfilled at 64p

[sirmark] 17/3/2017 16:15

RKH about to move alsoFor those that follow :)

[leoneobull] 17/3/2017 14:33

Somebody took a million

[ua36] 17/3/2017 11:33

The Tullow RI is a killer for anyone who bought their over the past couple of months. The decline in the share price since 330p an obvious indication that loads of people knew about it and were selling - normal fair market rules! Underwritten at 130p, someone (JPM prob!) will be getting stacks of extremely cheap shares - as my old gran would say, shockaroony.

Production comparisons with PMO not completely fair as Opex like-for-like is 33% lower at Tullow and they have more reserves. I still wouldn't be buying at the moment though until the market has digested everything.

Will admit that it does give me pause to think about a similar sucker punch being on the horizon with Premier. The EBITA's that TLW didn't like were 5.2x (same as Premier 2016) and TLW desire to get it down to <3x (akin to Premier wanting to reduce down to 3x by end 2018) appears unachievable without a large cash injection, in the near term. Also TLW issued Convertible Bonds with a conversion price of around £2.80 (at a 30% premium to the share price on a day last summer, but carrying 6% coupon v. PMO 2%) - seemed cheap there too at the time considering some optimism had started to return to the market. Also there was that comment by Malcy a couple of weeks ago that started to raise some doubt (the cheeky guy). Plus I thought Pyrrho's reference to PMO "re-entering capital markets" and a potential delay as a result CB hold up of sounded like a veiled threat.

I think PMO's low MCap could (and I mean could! I remember reading Durrant saying that if the equity market hadn't been so awful they would have used equity to complete the Eon deal) save it from a similar RI but I'll be watching much more intently! It's never dull though!

[steve73] 17/3/2017 09:02

We can now make a comparison between PMO & TLW....

TLW... 914MM @237 before, plus 914*25/49 @ 130 will result in 1381MM @201... So 51% dilution of shareholding to increase mcap by 28%.

PMO.... 510MM @70 (at 1Mar opening), plus 259MM CB's @74.4, plus 113MM Warrants @42.75, will result in 883MM @68.... A dilution of 73% to increase mcap by 67%.

An additional benefit for PMO is that our debt maturities have been extended.

On the downside (for PMO), TLW have allowed its shareholders to benefit with the discounted additional shares, whereas PMO have allowed its debtholders to acquire the discounted shares. In practice I'd expect in both cases many (most?) of these additional shares will flood the market and keep sp's depressed for a while.

[nav_mike] 17/3/2017 08:13

Aye...dull oil price and TLW news will probably give them enough ammo to halt any more rises.

As long as weve seen the back of the 50s I dont mind :)

[begorrah88] 17/3/2017 08:10

Probably be a couple of days of share price 'management' as Steve said earlier. Wouldn't surprise, or concern me, if they gave it a tug down today just to ensure they had a bit of headroom on the VWAP

[nav_mike] 17/3/2017 08:05

I see our resident guru NY_Boy bought TLW at £2.50 recently

Remind him of this when he comes on here next predicting death spirals etc

[bigsi2] 17/3/2017 07:52

Saudi Arabia Says Oil-Supply Cuts May Be Extendedhttps://bloom.bg/2mxwPnp

[adg] 17/3/2017 07:51

Due to the parallels some investors in TLW may well take some profits and put a bit in PMO ?

[bigsi2] 17/3/2017 07:47

Tullow was always overpriced compared to PMO especially at recent lows - not even a chance of a rights issue with PMO until refinancing completed and share price much much higher IMO

[adg] 17/3/2017 07:42

certainly seems that way Mike
I had a long chat with somebody who knows PMO well a few weeks ago, as a result of that and my own longer term conclusions and outlook, I have purchased more and now hold almost 100k - short term it's anybody's guess but long term they should do ok and I could easily double my investment as average is 50something pence - not bad compared to 1% in bank