Harbour Energy Share Discussion Threads

[stansmith3] 06/5/2020 23:52

andyhe has been on great form on enquest lately, on several occasions contradicted himself in the space of a day, claiming to have bought / sold in spectacular retro stylecompletely refused to say whether he was long,short or no position and then posted trades after the market had moved - hilarious - no one takes him even the slightest bit seriouslyhis gaslighter nickname is truely perfecthe has now dregged a year old thread and is happily chatting away to himself on it, you know he might not be the full shillingkeep up the good work, they look forward to your nightly roundup, but they would never admit it

[andypop1] 06/5/2020 23:51

Master,
If they have a short what rights would they have to participate in a “rights” issue to buy the shares back?
Do you understand the difference between a rights issue and a placing?
The proposed acquisition has not lapsed, attached to that is the placing followed by a rights issue, what has lapsed is anyone willing to take on the risk of guaranteeing to take any unwanted shares should the company continue with the reckless acquisition.
If the acquisition was viable the underwriters would have agreed to extend the 120 days, they didn't.

[master rsi] 06/5/2020 23:37

Update on Schemes of Arrangement - 6 May 2020- 5pm

Premier reports that following the approval of the creditor schemes of arrangement required to implement the proposed UK North Sea Acquisitions, related funding arrangements and extension of the Group's credit facilities by the Court of Session in Edinburgh on 29 April 2020, the single dissenting party (Asia Research & Capital Management) has now lodged an appeal of the Court's judgment.

Premier notes that the Standby Underwriting Agreement entered into on 7 January 2020 in connection with the associated equity raise had an initial term of 120 days and therefore lapses today. Premier continues to work with its underwriters with the objective of entering into new underwriting arrangements if required once the outcome of the appeal process is known.

The Group will issue its Trading and Operations update for the period to the end of April on 13 May.
----------------
note
Asia Research & Capital took a sort of over 16% expecting a large RI, as is now lapse then there will be no equity raise, they must be in water to the neck.

[andypop1] 06/5/2020 23:16

Master,
Did your TA foresee the Coronavirus?
The answer to that is no.
Anyone not familiar with this clown should look at his history, he and one (dB) are cut from the same cloth.
He is happy to post lies to support his TA, if you don't believe me just read the company's RNS of the 2nd of March, ARCM did not buy back any shares on the 29th of February as the fool claimed, their short percentage reduced because of the additional shares in issue.

Gtavel,
It is now a day later than planned according to today's RNS, it's not like PMO to miss targets!

Talking of missed targets, the company no longer has a guaranteed underwriter for the proposed placing and rights issue and is facing an appeal at the Court of Session.
The original judge suggested the market would decide if the acquisition was fair, without an underwriter that may come to pass.

On the bright side US domestic production dropped another 200k last week, despite that the SPR was still needed to store 1.7m barrels of unwanted oil.

adg,
What watch are you wearing today?

Good luck all.

[gtaval1] 06/5/2020 13:03

Trading statement on Tuesday.

[y1phr1] 06/5/2020 11:24

Looking like another flat day here

[master rsi] 06/5/2020 10:55

Goldman Sachs International, just announced on the 1th May increased their stake to 8.91% from 8.10%

[vitamin_g] 06/5/2020 10:36

That's more like it after yesterday...it's creeping. I so do hope you are right MaterRSI

[master rsi] 06/5/2020 10:33

30.49p +0.49p

Asia Research & Capital Management Ltd hold a short of 16.69%
on 29 Feb 2020 bought back -0.04%


That could easily make my prediction soon of 50p be a reality
They may start closing if they want to make money on the short

[master rsi] 06/5/2020 09:38

re - Manipulators on the order book

Are we seeing the manipulators of this dirty work giving a rest for the moment being to the shares today?

They were working hard almost all yesterday and again this morning, but there is hoped that at the moment they are having a break. ( Is it tea or coffee is “difficult to guess” )

[steve73] 06/5/2020 08:58

jelenko... This is how I understand it....

1. If the original owner (who lent the share to be shorted) retains the Rights (then he can do with them as he pleases. When the holder of the lent shares sell into the market, he must offer them fungible with existing shares. So anyone buying those "lent" shares must also be entitled to their Rights. Clearly the "same" share cannot have two lots of rights assigned to it.

So the holder of the short position has to offer same rights (in other words, he has a liability for providing the same rights. He will have to BUY rights on the open market to cover that liability.

2. If the original owner did not retain the rights, then the shorter would be net balanced, and the new owner would simply be entitled to the right available to all.

So ask yourself. If you were going to lend out your shares, would you lend them with any (future) rights attached, or would you prefer to keep any potential rights to yourself...?

As the borrower of shares would you risk borrowing shares without any future rights attached to them. Perhaps if you thought you could block any future RI you might take the risk..!

JMHO - I'm sure others more knowledgeable than me can comment..

[jelenko] 06/5/2020 07:39

Interesting to see how any rights issue would impact companies holding short positions. Not sure they would like it.

[berber1] 06/5/2020 00:43

Institutions may be lending shares to shorters!!

[berber1] 06/5/2020 00:35

Thanks Master RSI.the manipulation is short term, which only benefits day traders and shorters. investing companies would start buying for recovery. Me believe anyway.

[master rsi] 05/5/2020 23:39

From my "UPS" thread ....

Looking for around 50p soon if trend continues this way, but first has to break resistance @ 34.20p

chart with trend

[waldron] 05/5/2020 16:53

Price (GBX) 30.00 Var % (+/-) +3.13% (Up +0.91)

High 32.00 Low 29.80

Volume 25,004,002 Last close 30.00 on 05-May-2020

Bid 29.91 Offer 30.19

Trading status Closing Price Crossing Special conditions NONE




AU CONTRAIRE A NICE UP DAY

[boatman123] 05/5/2020 14:37

Little suprised by the rather lethargic share price rise today considering how much oils risen

[rose_by_another_name] 05/5/2020 12:41

Margin showing on IG as 0.05 pence.

[adg] 05/5/2020 11:29

Cant easily mothball production in North Sea - not really an option.
Brent looking a tad better, all starting to look a little less dire but a long way to go. A second wave after easing of lockdowns is a distinct possibility.
I think that a new deal will be negotiated with BP. Better terms in light of recent events, perhaps some financial carry?
Don't think we will see PMO 100p soon but wouldn't be surprised with 50p plus on a positive result on BP and continued recovery in Brent. Longer down the line i think there will be a spike in oil - had double whammy in lack of investment in projects from the 2016 oil crisis and now 2020 CV19 crisis, a year or two away but it will i think happen.
If the $30 TD mentioned last week for B/E (rather than the $35 mentioned in previous RNS) is a realistic figure and with Brent only a tad below that now, it wouldn’t be unreasonable to assume that we are now looking a lot better than a few weeks ago as to ongoing viability as a company. Barring a more severe second wave of Covid 19 infection, I actually think PMO are out of immediate danger of going under. Only my opinion and I have 150,000 reasons to be positive on this one, a glass half full kind of man.

[ekuuleus] 05/5/2020 08:12

andy, if oil stays low mothball all production. Then sell the 65% hedged contracts at a huge profit....

[sbb1x] 05/5/2020 08:08

Blumey No posts today