Harbour Energy Share Discussion Threads

[stansmith3] 27/3/2020 07:53

adgsorry filtered you long ago, after one too many nasty postsdo keep up the rec begging posts if it makes you feel better aboutat least you have fart and the deuchebag to keep you companyoh and your new wannabee gang member markymar, he has potential, treat him well

[stansmith3] 27/3/2020 06:59

markyi see you cant help yourselfone minute making digs at people, the next saying people are dying and people shouldnt be making digs and then back to normal behaviour making digs againperhaps investing is not for you?your emotions do seem to be scattered somewhati can only advise listening to the people who pumped pmo, you know the ones that called the people making warnings trolls?adg, fart and the deuchebag, they must have a plan right? they are suffering with you? they know what to do here?

[steve73] 27/3/2020 05:29

Alex, to add a bit more to andy's reply ref. shutting reducing production at these low prices.

All the development & capital costs are sumk, so it's only the OPEX which is relevant on a forward basis, but even if the OPEX far exceeds the revenue it would still make sense to keep producing....at least for the short-term. There would be additional cost involved in shutting down, redundancies, decomissioning (if they were shut in for good), and then additional cost on restarting again when (if..?) the OP picks up again. The only real opportunity they might have is to bring forward some maintenance work, or an annual S/D.

If you look at the forward oil prices (link in the header), then you will see the front month (may) is c. $2.5 lower than the next (jun). One year out (Mar) it's $12 higher than now, and by Dec21 it's a $15 premium @ $42. The market clearly believes this is a very immediate problem, although obviously it does depend on how quickly the CV issue peaks and oil demand picks back up (or OPEC/Russia coming to some agreement - which I personally don't see happening anytime soon). There are opportunities to hedge some production at significantly higher prices than today, but the risk is that the recovery is stronger and we end up underselling it.

Maybe a bird in the hand is better though..? I'm sure better minds than I are considering it.

[mercer95] 27/3/2020 00:16

My view is PMO will recover,same as the oil price, just a matter of time , they may even come out of it stronger,the debt is manageable, they paid off 15% last year,what isn’t a risk at the moment GLA

[patience a virtue] 27/3/2020 00:06

Andy, it is relevant as we all know that the biggest shorter of pmo is based in HK, or put it bluntly do you work for ARCM?
We have talked enough about pmo and if the oil price stays this low for a long time then most of the oil companies are doomed including pmo. If oil price recovers to a reasonable level then pmo stands a good chance of succeeding as it has all the ingredients. The events in the next few months will decide the fate of pmo and the others, whatever we say on this board does not matter.

[andypop1] 26/3/2020 23:46

Virtue,
Lol, is that relevant?
I thought this was the PMO board where we post our views about the company and then discuss those points?
Any views on the company?
Or should we talk about art?

[patience a virtue] 26/3/2020 23:34

Andy, out of interest can I ask where you are based, any chance you are in Hong Kong?

[andypop1] 26/3/2020 23:23

Alex,
You answered the question with the opening line of your post.
The company finds itself in a vicious circle because of the unmanageable debt it has recklessly built up. Less oil from a facility usually pushes the OPEX up per barrel so the losses are compounded.
PMO needs to sit down with its creditors and decide what assets it can dispose of a year or so down the line to pay the monies owed in exchange for an extension on the debt maturities, this may also include some form of debt for equity. If they don't and instead continue with their crazy plan to take on the losses from the ageing assets racked up by Shell and BP during this crisis, in the process wiping out shareholders with the placing and RI the company will go bust by July.
If the Scheme doesn't get sanctioned the bonds are suggesting the company is priced to fail.
In January 2016 when the company had more debt and less production they went to 42.5 pence in the pound, this time around they have gone as low as 35 pence in the pound nearly 20% lower.
Big Tone is under the impression he is running a major, he's not.
The company is hemorrhaging cash with oil at these prices, cash it doesn't have.
Good luck all.

[markymar] 26/3/2020 23:19

A good question that maybe Stan can answer that as knows it all

[heialex1] 26/3/2020 21:32

Whilst I realise they need as much cash coming in as possible, wouldn't it make sense for PMO to throttle down their production a bit and save for of the oil for better prices?

[markymar] 26/3/2020 21:01

She will give a verbal judgement first then its usually electronically recorded then document as court does not no what she is going to say or why she has come to that decision.Also if correct she can give judgement without parties there because of virus situation

[oapknob1] 26/3/2020 20:27

Did they not acquire the debt as opposed to lend in the first place? Guessing they will close at the lowest share price possible to maximise their hedge against the debt so a favourable judgement for PMO may trigger a close of position. Does anyone know if the Court of Session in Edinburgh decision by the Judge will be a written decision or a verbal judgement?

[sandcrab2] 26/3/2020 20:10

Their short position is to cover potential losses on their loan

[longwell] 26/3/2020 16:18

Think judge will come back tomorrow with a decision.If its against Pmo then it will throw open many questions about shorting at a time when it would be contraversial to say the least.

[stansmith3] 26/3/2020 11:01

marky wroteYour up early Stan for it not a school daythen two hours later says i shouldnt be trying to wind people up with all thats going on in the world...easy to see why you have lost money here, instead of blaming me, blame the likes of adg, fart and the deuchebag for selling the 200-300p only way is up dream on here

[stansmith3] 26/3/2020 10:55

markythanks for the confessionif you dont want me to call you out stop making remarks to me then?simple enough for you?now get back to working out how to address this 80% loss you have on your hands

[qui quaerit reperit] 26/3/2020 10:52

Can The U.S. Convince Saudi Arabia To End The Oil War?

US Secretary of State Michael Pompeo is applying verbal pressure to Saudi Arabia, encouraging the Middle Eastern country who started the oil price war to “rise to the occasion” and reassure the oil markets, the State Department has said, according to the Arab News...

[stansmith3] 26/3/2020 08:25

markymaybe if you had gone to school you would not have been seduced by the group think here that went along the lines adg, fartinthejar and onedb knew better than the mkt?how could the mkt not see that pmo was going to 140 then onwards to 200-300?anyway, keep the digs coming, i know you need someone to blame it on

[markymar] 26/3/2020 08:18

1.6 billion barrels and 4 of the 7 targets are appraisal wells.

[pro_s2009] 26/3/2020 07:38

Based on the updates from 88E, with Charlie-1 well spudding on 2nd March with 30 day drilling ops and a slight weather delay, the drilling results from the 88E/PMO Charlie-1 will should be due week commencing 6th of April.

Given this is a company maker for 88E, and potential highly significant for PMO in the event of oil discovery - I cannot see shorters keeping their positions in PMO as that time nears.

Only a week a half for go for the results from the biggest onshore well being drilled in 2020.

[markymar] 26/3/2020 07:26

Your up early Stan for it not a school day

[stansmith3] 26/3/2020 07:09

adg, fartinthejar and the one and only onedb got nasty and did the whole bb gang up on the person calling pmo a total basket case...look how it turned out...at least you have each other600% to go