Harbour Energy Share Discussion Threads

[croasdalelfc] 11/1/2018 07:45

Cathcher oil sold at a premium to Brent and hedge is a cost of sale .Guidance is conservative and should be upgraded in the year

[begorrah88] 11/1/2018 07:42

I've never been able to call the markets reaction to TU's. Ones I've thought were brilliant have been massacred so can only hope a weak update is interpreted by markets as good for 2018

[peterlowen] 11/1/2018 07:38

Tullow reduced debt significantly, and closed down yesterday. PMO has risen by a fantastic amount over the last month, so lower levels to top up i think :-)

[jelenko] 11/1/2018 07:36

No they don't

[gersemi] 11/1/2018 07:32

Let's see how the market reacts.

As an aside, they really do need to start the process of replacing debt with equity. I believe others call it 'deleveraging'

[leoneobull] 11/1/2018 07:32

My mistake then - thought Wytch was included, but if excluded then debt would've been 2.55 billion USD right?

[dr biotech] 11/1/2018 07:29

Think some of the debt reduction is due to exchange rate changes, ie GBP debt is now higher in USD terms. It should start to drop rapidly this year. Seems ok to me, guidance is perhaps a little on the cautious side. Better to under promise and over deliver I hope...

[prewar] 11/1/2018 07:29

Mixed bag, most read positive to me. Debt reduction is less worrying to me due to what looks like timing issues around year end, see extract below :

Net debt reduction would have been even greater but for the phasing of certain liftings across the portfolio following lower production in Q4 which results in cash proceeds moving into 2018.

Obviously with the benefit of hindsight would have liked less of 2018 hedged but if poo stays at similar level then great cashflows thereafter.

[jelenko] 11/1/2018 07:29

First catcher oil sold at a premium to Brent!

[begorrah88] 11/1/2018 07:26

Can only hope TD was kitchen sinking it for 2017 and the market reads it as that.Not sure Wytch farm proceeds have been used to pay down debt as lower paragraph refers to the cash assets of $180m from Wytch.Hedging looks lame tooOh well, yet again TD promises a lot more than he delivers and hopes & dreams can be scrubbed down yet again for another 6 months.I can see now that he has opened the door for a repeat of last years sell off. Hopefully not but would certainly understand it after that TU

[jelenko] 11/1/2018 07:24

Catcher is the key, the rest is history.

[leoneobull] 11/1/2018 07:20

Catcher, great news, debt not great. Had they not made asset sales.......debt would have gone up by USD 150m! Only the Wytch Farm sale prevented this.

And a further impairment charge on Solan....and lower than expected production guidance - i thought 90-95ks in 2018...

Still, the tax adv's of PMO operating in UKCS with all the tax credits & Catcher should outweigh the negatives....over nxt 6 mths

[asa8] 11/1/2018 07:13

Debt is not shifting much dissapointing to say the least

[begorrah88] 11/1/2018 07:09

Net debt $2.7?That is a big disappointmentMeans costs were still rising in q4 as that included Wytch farm proceeds of $200 so total net reduction of $100 means no benefit from higher oil price in q4 and additional $100 million spentCatcher ahead us good but that debt figure could really do us over

[chutes01] 11/1/2018 01:38

T/O in 2018

[oilretire] 11/1/2018 01:02

I alluded to it before Xmas but now I'm 100% convinced that Marvin was/is part of the shorting anti TD campaign of the last year or so.....

[leoneobull] 10/1/2018 22:14

marvin stopped posting - hence the massive rise....people couldn;t tolerate being invested due to having to read the drivel.

[leoneobull] 10/1/2018 22:12

zama - great find but no further appraisals until 2019......Talos delayed ....then there's the Mexican govt issue (the continuous block with their block plus the high tax issue to be overcome). So i would expect S - Lion to get prioritised....& the latter could be the catalyst for a major rerate...zama too - just think timescales on zama will lagg the FI development. ALL IMOV etc.

PS - Prewar - thanks - enjoy reading your posts too!

[jelenko] 10/1/2018 21:56

no Sea Lion is too far advanced

[karateboy] 10/1/2018 21:25

On 12/7/2017 Pmo reported oil in place for Zoma1 discovery to be more than 1b barrels of oil . TALOS the operator on 21/11/2017 reported oil in place for Zoma 1 between 1.4b to 2b barrels of oil. Interesting to see what PMO says about zoma1 oil in place and time scale for development. Is Zoma taking priority over Sea Lion development?