Harbour Energy Share Discussion Threads

[jungmana] 13/3/2020 07:18

Just too oversold and that update should settle a lot of nervous holders.Should be a nice blue day

[kirk 6] 13/3/2020 07:13

Wow that's hugely positive. Markets due to open up and oil also recovered overnight.100% plus today

[leoneobull] 13/3/2020 07:07

Trading update13 March 2020Following the announcement of Premier's 2019 Full Year Results last week, the Group provides the following trading update in light of the current market volatility.Premier's assets continue to perform well with production to the end of February of 76.6 kboepd. Full year production guidance of 70-75 kboepd is reiterated, before the impact of the proposed UK acquisitions.Premier has hedged c. 30 per cent of its full year 2020 oil and gas entitlement production at an average oil equivalent price of $60/bbl. This includes 40 per cent of the Group's oil production for the first half of the year hedged at $64/bbl. A full schedule of the Group's hedging programme is set out at the end of this statement and is consistent with that released in the Group's 2019 Full Year results.The Group retains significant liquidity. It has unrestricted cash of $135m and undrawn facilities of c.$330m, as at the end of February. Premier's 2020 cash flow breakeven price is under $50/bbl and a $5/bbl move in the oil price point forward is expected to result in a c.$50m move in free cash flow on a full year basis. This includes the benefits of the hedging programme and is based on capex guidance of $470m and new operating cost (including leases) guidance of c. $20/boe. As well as maintaining liquidity, Premier is focused on managing its forward covenant position which could be impacted by ongoing oil price weakness.Discussions are already underway regarding the Group's ability to reduce its 2020 capex programme. Initial analysis suggests that at least $100m of savings and deferrals is achievable with potential for further reductions. Assuming a $100m reduction in planned 2020 capex and $35/bbl oil price for the remainder of the year, the Group would expect to be broadly cash flow neutral in 2020. This does not take into account positive cash flows from the proposed UK acquisitions or potential disposal proceeds.With regards to the proposed acquisitions and extension to the Group's credit facilities, the court hearing to sanction the creditor schemes of arrangement is scheduled to commence on 17 March. Premier will provide an update on the next steps in the process once the sanction hearing has taken place.

[leoneobull] 13/3/2020 07:06

Trading update out. Very reassuring

[stansmith3] 13/3/2020 04:49

or maybe pmo shouldnt have started a downward spiral cash call when the coronovirus was causing havoc in china?

[patience a virtue] 12/3/2020 23:51

Andy,
ARCM are respectable firm but on this occasion they got lucky, extremely lucky. Who would have predicted this CV would appear and cause havoc to this magnitude.

[andypop1] 12/3/2020 21:42

I don't understand why ARCM get so much stick across the boards. When their position was reported I said they should be admired for such a strategy and I got ridiculed for it, who's looking like the fools now?
ARCM have once again offered an olive branch to the company today, they don't want to see it go bust but instead want to work with PMO to streamline the business.
Yes they will make money but isn't that what it's all about?
As for their hedge I wouldn't be surprised if they start closing it in a controlled manner at these prices. They can only make an additional 12.5p from here, which in the scheme of things is a minimal gain when compared to having the hedge effectively sat in the bank as cash.
This will eventually regain some of the loses so they can then re hedge as the price goes up enabling them to start booking the original hedge as profit.
Although the bonds have taken a hit I'm sure ARCM will not be offloading them, instead they will be looking for full face value from the company at some point in the future, they are not panicky PIs, it's win win.
I appreciate they got lucky but this should serve as a lesson to those who disrespected ARCM.

Good luck.

[big brother8] 12/3/2020 21:02

LEO WHO'S YOUR HUR? PRO EUSSR BANKRUPT NONCE.

[big brother8] 12/3/2020 21:01

I AM HOPING TO CLOSE PMO AT 2P TOMORROW AND FIN AT 2P, BUT FIN COULD GO IN ADMINISTRATION IN THE WEEK AND IT WILL BE 100% WIN.

[manics] 12/3/2020 20:44

Its not just that markets have crashed -it's the context. Some damn real world version of the opening of a zombie movie happening. Governments, shutting down countries, talking about a virus and infected.

This is 9-11. Princess Diana. 2008 type never ever will you forget type madness stuff happening right now ...and we're trying to trade it?!

Wow.

[viku111] 12/3/2020 20:16

Only 12p left to drop actually

[milliecusto] 12/3/2020 20:00

Afren written all over it

[davethehorse] 12/3/2020 19:54

Plenty to drop yet wait 3 months imo

[sapper2476] 12/3/2020 19:49

BB8. One of life's wretches.

[charlesjames1] 12/3/2020 18:45

Wowser. Been watching and waiting and in at 13.4p. Didnt think i'd see this price this fast. Kept plenty of powder dry to mop upon another £10k if it keeps heading south. Tucked away for a rainy day.

[advfn137] 12/3/2020 17:27

Any guess on where the price will be in a month or so when this corona settled (hopefully)

[jungmana] 12/3/2020 17:06

Bought another 3k at 13.4p added to my earlier punt at 18.6p.That's me for now in with a GBP6k total punt here.Let's see what next few days brings.Good luck all