Harbour Energy Share Discussion Threads

[deanroberthunt] 21/6/2017 07:44

Oils like reopening the tin mines in Cornwall...

[deanroberthunt] 21/6/2017 07:43

sold out of all Oil..it's over

[whites123] 21/6/2017 07:43

As a non paying user of advfn, is there an option to block certain posters?

Thanks in advance

[bakedbean57] 21/6/2017 07:34

Dean guess your Enquest holdings screwed then... how do you find out way here...

[deanroberthunt] 21/6/2017 07:19

and worth saying twice

[deanroberthunt] 21/6/2017 07:18

next tests for WTI....$42, then $40, then $37...then goodnight vienna

[deanroberthunt] 21/6/2017 07:18

next tests for WTI....$42, then $40, then $37...then goodnight vienna

[deanroberthunt] 21/6/2017 07:17

The end of Oil, Oil will be $5/barrel in 10 yrs, it's over

[steve73] 21/6/2017 04:32

I hold a few of both.. both bought in the low 60's last year, so enjoying a reasonable capital gain (c. 30-35%) as well as some useful income.

Both have been enhanced/extended during recent refinancings. ENQ now 7% par (PIK as additional notes if oil averages less then $65), PMO 6.5% in cash.

Currently, PMO pays 8.0% @ 81 offer, YTM (May-'21) 11.6%.
ENQ pays 8.7% @80.2 offer (although less than this if selling additional bonds at less than par), YTM (Feb-'23) 11.8%.

Summary - At the moment I'd prefer to add to the PMO (for income and a sooner maturity). If I was happy to wait longer with no income to maturity I'd go for the ENQ - but at the current prices either ordinary share would probably give a better capital return.

[11_percent] 21/6/2017 03:23

Steve,

Which bonds do you prefer, PMOs or ENQs.

[steve73] 21/6/2017 02:07

WTI chart in the header rolled on a month...

There's not much of a front month discount nowadays which is a bit worrying for the near term future of oil price, although NYB's timely appearance usually marks an upturn in the oil price. I think he may be a little premature coming here already this time and fear we may have a little further to suffer in the short term before any recovery.

Medium term, since most oil production declines at 5-15% per annum without continued development, and the sustained lack of investment in conventional oil over the last few years will IMO make a supply crunch inevitable at some point in the next 5 years or so. I doubt US shale will be able to take up too much of this future slack. And I do foresee a final renaissance for oil well BEFORE renewables & the e-revolution kicks in and oil is consigned to the waste-bin of human progress - around 2040 would be my guess for this - although perhaps I won't be around to see it...!!!

Nice to see PMO's bonds holding up well yesterday after a bit of a slide since the final terms were announced last week.

[ny boy] 20/6/2017 22:02

Lemmings to the cliff edge, oil enters bear market, its official! These have survived a bit longer than expected but the sickening drop in oil and a rising rate environment, will cripple these types of tiddlers.

[jotoha2] 20/6/2017 18:56

When Ny boy arrives then it's a good sign , number 1 ambulance chaser , remember jan /feb 2016 when he was spouting doom and gloom , nice 400 % price increase in the share price followed.

[timothyjones2010] 20/6/2017 17:50

POO has really taken the focus on the possible rise on refinancing here. If I stay in it's a long decision and I'm not sure. Cut losses or stay and hope it turns itself around? Be an interesting nights sleep

[whites123] 20/6/2017 17:24

Saudi Oil Minister: Oil Markets To Rebalance In Q4 2017

By Tsvetana Paraskova - Jun 19, 2017, 9:27 AM CDT
oil
The oil market has started showing signs that it is headed in the right direction, and current expectations point to the market returning to balance in the fourth quarter this year, Saudi Oil Minister Khalid al-Falih told London-based Arab daily Asharq al-Awsat in an interview published on Monday.

“In my opinion, market fundamentals are going in the right direction, but in light of the large surplus in stockpiles over the past years, the cut needs time to take effect,” al-Falih.

“Current expectations indicate the market to rebalance in the fourth quarter of this year taking into account an increase in shale oil production,” the minister noted.

Asked to comment on the recent oil price drops, al-Falih told Asharq al-Awsat:

“It was not our goal when launching this initiative in Algeria to reach a specific price. Prices are determined by markets driven by many variables beyond the control of producing countries and unpredictable.”;

But the minister went on to add:

“It is worth distinguishing between these fluctuations and the long-term market fundamentals, which we are trying to influence by controlling production.”

Referring to the global glut, the Saudi minister told the newspaper that there was a relatively big draw of around 50 million barrels from floating storage facilities and a drop in OECD onshore storage of 65 million barrels compared to July last year.

[bigsi2] 20/6/2017 17:19

LeonBull-I'm not so sure about macro manipulation of oil market-Fundamentals for oil are currently dire with all indicators pointing to continued oversupply-I would say it's been fairly clear for the last 3-4 weeks where POO is heading I have a few friends trading energy and to a man they all had Brent at $45 ..And sure enough here we are.Baring anything exceptional i.e. Qatar or a monumental draw tomorrow etc I think it will continue to drop.

[adg] 20/6/2017 17:00

now must be time to buy - the pondlife / windylickers are returning......

[ua36] 20/6/2017 16:40

I remember NY Boy pulled the same "Afren Mk.2" stunt before... then announced that he'd then went and bought in.

I know the internet / stock market is devoid of morals but still makes me chuckle the weird lengths that people will go to.

There was a guy called Rogk that was banging on gleefully for weeks that PMO was going bust, wouldn't meet revised covenants etc... then he bought in at about 63p as he thought the shorters would start to close. Quite ironic how things have transpired since.