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PMO Harbour Energy Plc

22.40
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Harbour Energy Plc LSE:PMO London Ordinary Share Ordinary Shares
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 22.40 22.50 22.60 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Harbour Energy Share Discussion Threads

Showing 29276 to 29294 of 54825 messages
Chat Pages: Latest  1173  1172  1171  1170  1169  1168  1167  1166  1165  1164  1163  1162  Older
DateSubjectAuthorDiscuss
13/7/2017
05:33
Steve 73 I agree and sold out my susbstantial Rockhopper holding completely yesterday. Will keep an eye on them over the next few years, but much better opps exist elsewhere-ie premier, UK weald
mpclag
13/7/2017
05:03
Excellent day-great to see shorters screwed-and many have been rightfully. Strategically a hugely significant find-cheap and on the US doorstep. Pmo's debt issue no longer the major issue as this is saleable because of location for ieo debt if needs be.
cumnor
13/7/2017
04:48
Some useful discussion of PMO's options from the Rockhopper thread that I thought were worth copying here. Thanks to efagie and Ed123... hope you don't mind!!

>>>>>>>>>>>>>>>>.

Ed 123
12 Jul '17 - 12:40 - 39979 of 39986 0 0

Yes, Premier's Zama field in Mexico will be far cheaper to develop and to operate than Sea Lion. It is a few years behind, though.

Premier is on the hook for hundreds of millions of dollars of Rockhopper's development costs at Sea Lion. So, my guess is that Premier moves even more slowly on Sea Lion. It must surely want to delay having to pay out on its own and Rockhopper's share of an expensive development?

Imo, Zama will be the big new project for Premier. I guess Premier continues with the planned appraisal of Zama next year and I'd also expect other exploration prospects on Premier's two Mexican blocks to be accelerated.

Some good may come of this for Rockhopper. I think Rockhopper, now more than ever, needs a new partner in the Falklands.




efagie
12 Jul '17 - 21:21 - 39980 of 39986 0 0

Ed, Premier's Zama field in Mexico will be far cheaper to develop and to operate than Sea Lion.

How will it..


Ed 123
12 Jul '17 - 22:49 - 39984 of 39986 1 0

Hi Efagie.

It's early days for Zama and I don't have any figures. My comment was based on knowledge of the very different situations of Sea Lion and Zama.

Sea Lion is 220 kms from land. There are no facilities (and the nearest country won't do anything to help.) Drill rigs must be brought in from a long distance away = expensive. Everything needed must be brought in and from some distance away. Onshore facilities for the workers will need to be built. Workers will need a higher pay level to compensate them for living on a remote island.

Zama is only 60 kms from Dos Bocas (an established oil industry specialist port). There are a dozen or more significant oil fields close by. It may be possible to link into existing facilities. The region has lots of oil workers and equipment, so development and production should be relatively easy.

That's my thoughts.




rodderz77
13 Jul '17 - 00:49 - 39985 of 39986 0 0

Taxes are very different too. Around 69% profit tax, and some 10% royalty in Mexico. So very oommercial, but not very profiable.




efagie
13 Jul '17 - 00:59 - 39986 of 39986 0 0

Hi Ed, there's a lot to see in what you say, facilities, yes at the falklands they need sorting, part of the reason things are dragging. Argentina? is that an issue now she's gone? they need the business, besides there's countries nearby who are looking to take things on, Brazil? Something i asked at the drilling times, is why do we have to have rigs from the UK. The US has plenty, Noble?
The Falklands are already doing a new harbour and a helipad too i think.
As to things like warehousing, that'l be done in all likelyhood by say FIH in collaboration with FIG, so not likely to effect rkh/pmo.
The other thing would be to the pipe making site, given that will be used by other oilers when things get going, i can see FIH again with some outside company in partnership, again noble energy has its fingers in many pies..
The big issue there is a staff shortage, as in must come from outside, But! will Dos Bocas have the staff available given its already mostly employed?

So to developments costs, cheaper? nah, not imo, why. first point is to drilling costs, this zama drill at this point is drilled to some 3400m taken some 55 days to drill & test, though they are going deeper.
Sealion was to some 2300m and took less than 40 days, a lot of extra drill costs.

Regards the other areas it seem their talking to partial carry costs with the contractors in exchange for a small production percentage. Imo, you'll not get that in Mexico.
Another thought is too the POO value, fig oil Brent with Mexico likely US version (name i just can't think of(lol.)

Have seen some carp with regards oil value as in zama as light oil, ODD! its api is to some 28 to 30 API. hmmmm, sealions is 29api.

So it really comes down too profits per barrel, sealion wins hands down, why?

royalty-Mexico gets 10% of the revenues, before cost recovery and profit oil.
--------Falklands-9%.

Tax on profit oil after development capital spend and opex.
Mexico -take just under 70%.
Falklands- take 30% i think, though maybe 35.

before capex recovery mex10 fig9
Put that in % terms and class opex as the same for both. lets say $50 poo and say $8 opex.

costs and tax after capex recovery.

.....royalty.....opex..........tax.
Mex-10-
fig 9,........ both 16%.
......... ,,.............mexico-70%--fig 30

So mexico some 10+16+70=96% @50 POO some 2$ profit per barrel.
falklands some 9+16+30=55% @50 POO some 22.5$ profit per barrel

All imo, so likely wrong given my math. ;))

ken..

steve73
13/7/2017
00:35
Go Tonyhttp://www.proactiveinvestors.co.uk/companies/stocktube/7784/premier-oil-s-offshore-mexico-discovery-a-world-class-success-ceo-tony-durrant-7784.html
paulbiya
13/7/2017
00:28
If anybody wants to see where zama1 is see block 7 in map in the link belowhttp://www.ogj.com/articles/2017/05/talos-spuds-zama-1-exploration-well-in-mexico-s-shallow-waters.html
paulbiya
13/7/2017
00:25
Zama1 cost to drill? 16 million for premier. Worth? Several hundred million maybe?? Esp since they haven't finished drilling.http://www.premier-oil.com/premieroil/media/press/zama-1-spuddedWhat does Zama deep contain me wonders
paulbiya
12/7/2017
22:31
From Telegraph :


Premier Oil shares rocket after 'world class' oil discovery

The discovery was made by a consortium of Premier, US company Talos Energy and Mexican firm Sierra Oil & Gas Sam Dean ;
12 July 2017 • 12:38pm Shares in Premier Oil rocketed by more than 30pc as it announced a “world class” oil discovery in the Gulf of Mexico that could produce up to 2bn barrels.

The discovery was made by a consortium of Premier, US company Talos Energy and Mexican firm Sierra Oil & Gas, which was awarded two exploration blocks by the Mexican government in 2015.

Premier owns 25pc of the block, with Sierra and Talos owning 40pc and 35pc respectively.

Talos described the find as a “historic and significant discovery”, saying estimates for the well, known as Zama-1, range from 1.4bn to 2bn barrels.

Premier’s share price surged more than 30pc to 63.75p in early trading as chief executive Tony Durrant said the discovery “adds materially” to the company’s assets.

“We have encountered a very substantial oil bearing interval which indicates over 1bn barrels of oil in place, a commercial standalone development which adds materially to Premier’s portfolio of assets worldwide,” said Mr Durrant.

Premier Oil boss Tony Durrant Credit: Geoff Pugh
“It is particularly pleasing that our strategy of focusing our exploration portfolio on high impact opportunities in proven but under-drilled basins has led to this world class discovery with our first well in Mexico.”

The discovery comes two years after the Mexican government opened up the country’s oil sector to private bidders for the first time in 80 years.

The consortium was the only group to snap up any of the exploration blocks, claiming two of 14 available on a day of major disappointment for Mexican officials.

However, last month the country auctioned off 10 of 15 available blocks in its fifth auction since the energy reform began in late 2013.

Premier Oil
“We believe this discovery represents exactly what the energy reforms intended to deliver: new capital, new participants and a spirit of ingenuity that leads to local jobs and government revenues for Mexico,” said Tim Duncan, president and chief executive of Talos.

Work on the well, which lies around 37 miles off the coast of the industrial port of Dos Bocas, started on May 21 before 55 days of drilling and evaluation.

The consortium expects to begin a drilling programme next year, with Talos saying the companies will analyse the data to “determine the next appropriate steps and then weigh those options against other opportunities” in the 122,000-acre exploration block.

Talos added: “The discovery at Zama makes a number of other prospects on the block, both shallow and deep, look attractive.”

zico01
12/7/2017
21:58
Ps there should be some good coverage in the Telegraph tomorrow - PMO is one of their favourite shares.
husbod
12/7/2017
21:13
Great day chaps should be a lot higher if it weren't for the shorters the last few months this has to be a better bet than sea lion shallow water and closer to oil terminals
asa8
12/7/2017
21:10
VAST could also DIVE further YOU know NOTHING but RAMPING
tevita
12/7/2017
21:09
MORE DECEIT and RAMPING from TEMMUJIN
BE WARNED TRUST NOTHING he posts
or you will end up in a VAN like him
DOES that not give you a CLUE about how useless he is ????????????????

tevita
12/7/2017
21:07
VAST could explode tomoro if this is true...



RELEASED ON 6TH JULY 2017 re VAST but not reported via RNS

Vast Resources confirms higher grades of silver, copper, lead, zinc at Romanian tailings dam
Thursday, July 6, 2017UK-based mining company Vast Resources said on Monday it has confirmed significantly higher grades of silver, copper, lead and zinc at Faneata tailings dam located near the Baita Plai Polymetallic Mine (BPPM) in Romania, seenews.com reports. Vast Resources started drilling in the area in November 2016 and made 33 surface drill holes, covering 630 metres, the company said in a press release. The results showed a noticeable rise in the average ...

temmujin
12/7/2017
20:45
Shares in small British firm Premier Oil rocket 30% after it strikes a huge new supply off the coast of Mexico
frontdoor bull
12/7/2017
20:21
You name it..?, We will be visiting M & S in the morning...?

We are 1 mile out of Douglas

moneybags
12/7/2017
20:10
BBQ bear ?
mreasygoing
12/7/2017
20:09
Only if you serve a Durrant Hog Roast ;)
marvin9
12/7/2017
20:05
The debt is not so much of a problem now........!!!!!!!

Mega barrels under your seat, and all that, that is collateral

Problem solved

p.s............Anyone fancy coming round to our place for a BBQ tomorrow night...?

open invite

moneybags
12/7/2017
19:47
Good opportunity to get stuck into this with some appraisal drilling and exit with enough loot to sort the debt mountain issue, there might even be some loose change to bring sealion online.
spacecake
12/7/2017
19:44
Fact is PMO have a global operational footprint and were likely to hit a major find sooner or later. Undervalued on a number of NAV ratios. I bought back in today GLA.
big_brown_bare
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