Harbour Energy Share Discussion Threads

[stansmith3] 22/4/2020 09:56

dealerabsolutelytrouble is these types of viruses mutatemers was an unsuccessful virus as it killed 30% of those infected...also, not known how long immunity might last for recovered patients

[ltcm1] 22/4/2020 09:23

I think what may happen is the US opens up too early and will have to do a second shutdown. I see this as the big risk with oil as the US driving season could be badly disrupted.

There is also the problem that huge user China has no one to sell it's finished products to right now.

With the GFC they took worldwide co-ordinated action but the landscape looks different this time.

[wageslave] 22/4/2020 09:16

The first human trial of a possible Sars vaccine was conducted in Beijing in December 2004, but by that time the epidemic was over, and research into other diseases was given priority so it was shelved.

[rose_by_another_name] 22/4/2020 09:13

(Image of scientific brains being thrown at virus)

[dealer1972] 22/4/2020 09:10

I get that Stan, but how many cases of SARS or MERS has there been in the past 12 months?Whether it's a vaccine or evolved immunity the number of cases will decline. The number of scientific brains in the world being thrown at this gives me a degree of confidence that a breakthrough will be found in the next 12 months. Keep the faith dude ;)

[stansmith3] 22/4/2020 08:50

dealerno vaccine has ever been found yet for a coronavirus like sars or mersinventor of polio vaccine said one may not be foundit is not guaranteed by any means

[dealer1972] 22/4/2020 08:38

Because that's the price they want to buy at ;)A lot of people are only considering the here and now and yes if you do that things are pretty dire in the oil industry.However, once a vaccine comes into play (and it will) and everything starts to return to normal, demand for oil will be steadily increase. Unfortunately with the rig count being down scaled and likely most explo put on hold there could well be a spike in oil prices. So imo buy now while others are fearful and hold for 18 months for a potentially once in a lifetime mammoth reward ;)

[sux_2bu] 22/4/2020 08:25

Why should it be 10p?

[john09] 22/4/2020 08:17

AMAZEDDDDDDDD !!!!

[traderpawel] 22/4/2020 08:12

Asia are easing up the lockdown and planes are back in the sky
Surely demand will come back sooner than later

[dealer1972] 22/4/2020 08:10

Because of hedging and future oil demand ;)

[traderpawel] 22/4/2020 08:10

Lol same here couldn't believe

It just shows how it's been played until now

[john09] 22/4/2020 08:06

Why isn’t this 10p again. Im amazed its clinging to 20p lol. Amazed

[rose_by_another_name] 22/4/2020 07:57

There is storage available, if the US congress
would allow Trump to refill the strategic reserve.

"Currently, the government’s facilities can only
store an additional 77 million barrels"

[sbb1x] 22/4/2020 07:57

U.S. OIL RIGS fell another -66 to 438 last week, the fastest decline since Mar 2015, and are now down by -245 (-36%) over the last five weeks: https://t.co/wJUP3U2Kwy

[manics] 22/4/2020 05:53

Brent at $17.

[buywell3] 22/4/2020 04:53

buywell is starting to feel a bit sorry for you losers here

You can't say buywell did not try to give you a heads up

But in 99% of cases pink specs and cloth ears gets you to now




For your info last time buywell looked circa 20% of PMO stock was short

Quite a lot eh



But here apart from the Debt issues is the nub


buywell invisages Invisage has done his homework before as sanks would say

Putting his nob on the PHAR table

So Invasage answer this

OIL june futures now trade at around $12

And we have just witnessed negative value on the futures that just expired

No space left to put OIL

Demand has evaporated

Don't look like coming back again till buywell says so

Hence the question is

PMO has many hundreds of millions of barrels of OIL reserves on its balance sheet


BUT


WHAT is the value per barrel that is currently on that balance sheet valuation ?



bet nobody answers


Which means long buyers now are clueless of the real Covid-19 OILY situation

The shorts are in charge


IMO dyor

[steve73] 22/4/2020 03:18

Perhaps thing aren't quite so bad re. Covid.... or you could easily see that they're MUCH worse.



But if this is true it does make little sense to keep the lockdowns in place.

PS. I rolled the WTI charts in the header (if anyone noticed).

[stocktastic] 21/4/2020 23:30

It is posdible that a working vaccine is found and available in limited quantities later this year..

But would you want to risk your life on a barely tested vaccine?
Frontline NHS likely will do

But the rest of us?

[andypop1] 21/4/2020 22:36

Stanley,
That wasn't forthcoming, probably because there isn't one.
This company is no better off than the shale companies that will fail.

[andypop1] 21/4/2020 22:11

Stanley,
We're in a new tax year so AB can once again use his tax avoidance scheme to prop up his company while maintaining control of the cash he has donated to the charity he runs. Completely legal but you would have to question the morality.
To be fair, he and other directors have taken a pay cut whereas big Tone has happily pocketed his bonus recently. I appreciate that bonus was deferred from 2017 but it says a lot about the board's contempt of shareholders.
At least it was paid in shares!



sbb,
Yes I am the “original” andyp, I came here for a quieter life after being discharged from the asylum. I was there for a bit longer than just 2016-2017 and to be called original makes a refreshing change to what some would call me.

Pawel,
In my opinion there is a high chance of PMO going bust, they have minimal cash, massive debt and are losing money hand over fist at the current oil price.
To be cash flow neutral the company needs $35 for the remainder of the year from a start point of the 14th of March, that is an average oil price, not realised, so takes account of all the hedging and the higher prices achieved prior to that date and is based on the business slashing $100m of Capex with no penalties attached to any cancelled contracts. Cash flow neutral doesn't cover debt costs or tax.
The Brent oil futures are suggesting we may see $35 by April next year but shouldn't be relied on.

Good luck all.