Harbour Energy Share Discussion Threads

[master rsi] 12/5/2020 11:32

re - Not that im bothered as got no position in it.

They have no position on PMO but.... they like to put their NOSE on the thread with negative comments.

Maybe is because they are ...... bad and nasty

[badmashy] 12/5/2020 10:29

GOLDMAN SACHS SELLING nearly all stake is not bad new then what is. Not that im bothered as got no position in it. Good luck all

[urals] 12/5/2020 10:07

#GKPUK TAKEOVER CODEWhen a person or group in concert acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders....Astaris declared May 11 + Lansdowne May 115.6 %+ 15% =?Doh. https://t.co/GFBu5XVZta

[hsfinch] 12/5/2020 08:47

It's not looking good for PMO. It's been found out over the BP deal. It's sale of the Mexican asset has stalled. Catcher production has been out for a month. Sealion project has been effectively moth-balled. They've done well to stay afloat this long but they're taking on water. I wouldn't want to be onboard the good ship PMO right now.

[chutes01] 11/5/2020 22:21

poor news but not sure if it will affect sp

[adg] 11/5/2020 22:13

Chutes is that a Catcher Hmmmmmmm or a Catcher Hmmmmmm?

[andypop1] 11/5/2020 22:12

Chutes,
Wednesday now for the update if the RNS of the 6th is correct.

[chutes01] 11/5/2020 22:09

TU tomorrow
Catcher Hmmmmm

[markymar] 11/5/2020 15:29

Summary of the additional voluntary cuts announced today for June:Saudi Arabia: 1 million bpd Kuwait: 80,000 bpdUAE: 100,000 bpd

[master rsi] 11/5/2020 13:45

The reason why....

Saudi Arabia to reduce crude oil production by an extra voluntary amount of 1 mil bpd in June
Mon 11 May 2020 12:01:30 GMTAuthor: Justin Low

This will bring the total production cut to 4.8 mil bpd from April levels

The Saudi energy ministry says that with this move, it is aiming to encourage other OPEC+ participants and other global producers to comply with the agreed output cuts.

Adding that the additional 1 mil bpd of voluntary cuts is to support stability of the oil market.

This will bring the kingdom's total production volume for June to 7.492 mil bpd.

The news is helping to give oil prices a substantial lift ahead of North American trading, with WTI crude jumping from $24.05 to $24.80 currently.

[master rsi] 11/5/2020 13:33

Oil prices going places now and moving above last Friday close $30.90, after being down to $29.80
in the morning. After all the movement of $1 is normal

Brent is now at $31.28

[master rsi] 11/5/2020 10:15

Negative comments on OIL price are back in vogue at Bloomberg and Oil price.com today

[master rsi] 11/5/2020 10:08

andy

re - Master, How does the oil price compare to 16:30 on Thursday?

a rise of $0.20

[andypop1] 10/5/2020 22:30

If there is any truth in the report and PMO is looking at renegotiating the price does that mean ARCM were correct for raising concerns as to whether the acquisitions were in the best interests of all stakeholders?
It could potentially open a whole new can of worms.
The price the company pays has no direct impact on the finances of the business as they are not paying for it, shareholders and the placing are funding it.
The impact from the purchase comes from the revenue the company generates from the assets, is PMO now of the opinion the assets won't generate the FCF they previously assumed and that the creditors based their approval of the scheme on?
I'm no lawyer but any devaluation of the assets and subsequent reduction of anticipated FCF that devaluation is based on is a material change to what the creditors signed up to.
Let's not forget shareholder approval is also needed should the appeal court rule in the company's favour.
Interesting times ahead.

Master,
How does the oil price compare to 16:30 on Thursday?

adg,
No more sarcastic posts from me towards you if you promise to keep your watches on the sideboard, talking of which I need to put mine on charge!

Good luck all.

[adg] 10/5/2020 22:07

Thanks for your honest answer andy - can’t disagree with many of your remarks.

Update Tuesday - not expecting anything positive tbh. Will no doubt announce some delay to tolmount as it is being built in Italian yard which I can only assume was effected. Wonder if it will cause any share price effects - guess a few months delay won’t be a huge issue in the greater scheme of things.
If TD does drop the BE guidance to $30 that’ll be at least a small positive.
Don’t expect any positive for Zama nor Sealion - not sure what else they could announce apart from good catcher uptime.

[master rsi] 10/5/2020 21:34

What tomorrow will bring after Friday's close. As The Market here was close, Bent Oil was well UP to $30.88 +1.42 +4.82%
and Futures £30.97

[andypop1] 10/5/2020 21:19

Rose,
The company can't afford to sit it out for a number of reasons.
The sale and purchase agreement has an expiry date of the 30th of June, without that the debt extension cannot happen. The Vendors are not obligated to extend that date in the same way the underwriters were not obliged to extend, so they didn't.
If the debt maturities are not extended by the same date (30th June) the debt will become current liabilities in the half year statement.
So for PMO time really is of the essence.
I will add a bit more detail later.
Good luck.

[rose_by_another_name] 10/5/2020 15:55

Premier can afford to sit it out, too. At
least they can afford it better than paying
the original price for the assets. Tullow
sold assets cheaply in this climate. If we
are to buy, we should get a discount.

[frightened city] 10/5/2020 07:37

BP can afford to sit this out and/or find another buyer.

[wageslave] 09/5/2020 23:28

Premier Oil is preparing to drag BP back to the negotiating table over a £500m sale of North Sea oilfields, as the troubled explorer fights for its life after the collapse in the price of crude. https://www.telegraph.co.uk/business/2020/05/09/premier-oil-seeks-better-deal-bp-north-sea-sale/

[andypop1] 09/5/2020 23:18

adg,
Question one should be broken down into two questions.
Do I currently have a financial interest in PMO?
I can't answer that one with an honest answer given the numerous pensions I have contributed to, I'm in the process of tidying them up so will hopefully be able to give a straight answer in the future.
Have I previously had a financial interest in PMO?
Yes but never a known long term financial interest , I had a few flutters in the run up to the last refinancing and did ok.

If the answer to question 1 (+2) was none, why do I post on here?
It wasn't.
But I post on here firstly because I can despite some of the more enthusiastic posters like yourself questioning why I would. Some have even suggested I hold a grudge against the company or the CEO, I was a former employee, work for a certain hedge fund or am paid per post.
I hope you were not alluding to any of the above?

The reason I follow and post about the company is I'm always keen to learn, PMO is a heavily indebted company with a complex debt structure, operating in an unpopular sector that traditional lenders and investors are moving away from yet it still attracts a cult like following from posters on here and on the asylum who believe it is a viable business.

Big Tone believes he can spend his way out of trouble with shareholder’s cash despite the UK gas price collapsing prior to the China virus, he can't.

I hope some of you took the time to read the questions raised by ARCM, they are not the enemy.

The transport minister today announced £2 billion is being put into schemes to encourage cycling and walking to work, if that is you have a job, I'm sure the UK won't be the only country to use this virus to push green policies through.

The aviation sector globally will struggle for years, this virus has done more for the planet than the do gooders could even dream of achieving.

That puts this business in a precarious position with $2b debt due in a year's time, traditional lenders are unwilling to lend to basket cases that sell an over supplied commodity at a loss. That leaves the North Sea acquisition to kick the can down the road with a pending court hearing to decide if the original hearing came to the correct decision with the original judge suggesting the market will decide when it was a fully underwritten equity raise. That is no longer the case.

Good luck all.

[y1phr1] 09/5/2020 15:35

Yes I bet they are interested in my tax free isa . Idiot.