Harbour Energy Share Discussion Threads

[tjbird] 27/4/2020 19:39

is there a bank covenant test this month?

[gcd1] 27/4/2020 19:26

Hope so tjbird and then pile in :-)

[tjbird] 27/4/2020 18:53

falling through the crack to 13p

[binarypilot] 27/4/2020 18:25

JackJarvis,
How long have you got?

[jack jarvis esquire] 27/4/2020 12:31

What would stop this returning to 100p+ share price once corona is behind us?

[rose_by_another_name] 27/4/2020 07:29

Good info there andy- I have been reading conflicting
information about restocking the strategic reserve.
Congress won't vote the funds, as the Democrats are
calling it a bailout for "Big Oil". Of course it makes
sense to buy low, and Trump would, but it's politics.
At least the storage is being used. Maybe the reserve
can purchase the oil once it is in place.

[andypop1] 24/4/2020 23:05

Stanley,
The reason I found it funny was big Tone was suggesting it was a good thing the SPR is being restocked, technically it is not being restocked but leased out for storage at a cost to the oil producers who have nowhere else to put it, the world is awash with oil that nobody wants.
From memory the SPR can take 685k per day depending on the oil type, when the global economy picks up in six or twelve months the producers will, as you say, release that oil back into the market as soon as they possibly can to realise much needed cash, that in turn will keep the oil price low.

These unregulated internet sites allow companies to make false claims, big Tone clearly stated the company needs less than $30 oil to break even, that is more than 15% lower than the official release on the 13th of March, that comment came just a day after the company updated the market. Given the current situation I have to question why the company didn't feel the need to update shareholders on the substantial reduction in costs they have achieved in a little over a month but instead said:

“As reported in a trading update on 13 March, the Board of Directors are taking all prudent steps to manage the Company's short term liquidity position, to reduce forward expenditure commitments and to redefine the Company's future business plan, given these new circumstances”

If it is not in an official release do not believe it.

Have a good weekend all.

[stansmith3] 24/4/2020 10:59

exactly, will take a while to fillthere have been regular spr withdrawals over the last couple of yearsi believe these are for so called maintenance purposes, i dont think they achieved anything like 85$but they do add to supply and depress the poo

[rose_by_another_name] 24/4/2020 10:40

I think I read the reserve can accept 250,000
barrels per day. Can't find the link now, but I
posted it here a couple days ago.

The last time they sold oil out of the reserve it
was at $85 a barrel.

[stansmith3] 24/4/2020 08:35

andydid he mention the rate at which the spr can be filled? lol what will the situation be then?and then you have the situation that everyone here is bargaining on, where all of a sudden oil is in short supply - lol - then what happens ? the spr is tapped to control prices, so that will be another two years of lowish prices

[heialex1] 24/4/2020 01:30

What are the chances of the asset purchase from BP being renegotiated? If they could manage that it would potentially be another EDF type deal.I think PMO can survive this downturn and might even pull something out of the bag.But maybe I'm just hoping for the best...

[andypop1] 24/4/2020 00:20

I've just watched big Tone, what a performance, lol.
Lots of talk of cash flow but not a mention of the word “free”!
So the cash has gone down to $100m from $135m.
His claim that the US is restocking the SPR made me chuckle, was the interview timed to coincide with the Scottish court decision?
Let's see if it comes in a matter of days.
Another good day here for the brave traders.
Good luck all.

[tizo100] 23/4/2020 22:33

Where is the presentation please

[mcinta] 23/4/2020 20:26

Wow I can see isolation has certainly brought out the trolls, another 40k top up to add even more excitement! Stay safe real holders !

[emilio] 23/4/2020 20:25

Sea Lion delayed 6-12 month

[cerrito] 23/4/2020 18:58

A clear presentation and for me reassuring though not sure if I am about to rush out and increase my holding of the bonds and shares.
Edinburgh Court decision due in next few days and a trading update on I think he said May 12.
A small thing that surprised me: said they were delaying 2 wells in Catcher and in Brazil because of equipment shortages which seemed very odd.
Current thinking is that any drawdown of their loan facilities will not be material and Covid has not affected production though no work on the Tolmount platform as the Italian yard is in lockdown.

[onedb1] 23/4/2020 17:08

Adg , just popped over to see if anything interesting news wise on PMo was posted . I can see instead that the usual clown , oops sorry windylicker is trolling again . Your description had me in stitches . The description suits him . On a serious note do like me . Filter him. He has some sort of mental issue and trolling seems to be his answer. I honestly feel sorry for the chap . It must be a condition

[grupo guitarlumber] 23/4/2020 10:31

Revised AGM Date

In response to the Government's public health instructions and stay at home measures regarding the COVID-19 pandemic, the Board has taken the decision to defer the holding of the Company's 2020 Annual General Meeting ("AGM") from 12 May 2020 to 25 June 2020.


The Board is hopeful that circumstances will improve and that shareholders will be able to attend the meeting at the later date if restrictions on public gathering and social distancing requirements are reduced. It is anticipated that the shareholder mailing of the AGM notice and annual report will take place on or around 22 May 2020.

[markymar] 23/4/2020 08:49

Stan You got the gist yet?