Harbour Energy Share Discussion Threads

[marvin9] 12/11/2016 15:27

I think you lot woe me an apology don't u think. you lot boasted £1 sooonnnn when I said it was crash to 50p; and here we are crashed and burned with further falls to go

[mreasygoing] 12/11/2016 12:20

I'm playing the long game. I'm in no rush. OPEC will surprise the market in my opinion. I reckon they'll cut more than expected. Get ready for a spike in the oil price.

[mreasygoing] 12/11/2016 11:26

Keep going Dean, how's the gold long going ?

[deanroberthunt] 12/11/2016 10:52

Two more at risk?

Premier Oil (LSE: PMO) and Igas Energy (LSE: IGAS) are two companies that could potentially be heading for trouble due to their high levels of debt. At a share price of 70p, Premier Oil’s market cap is £358m ($437m), but net debt at its last balance sheet date (30 June) was $2.63bn.

The company has been getting monthly deferrals from its lenders on its debt covenants and expects these to continue “until negotiations with its lending group conclude.”

Premier reckons that after a period of heavy investment, it can generate free cash flow at an oil price of above $45 a barrel, and thus begin to address its debt burden. However, the oil price remains precariously balanced. If it heads south again — or if Premier has operational issues or costs are higher than expected — lenders may not be as accommodating as they’ve been so far.
Due to their overbearing debt and the high risk to existing equity in a capital restructuring, I view Igas and Premier as stocks to avoid at this time.

[paulbiya] 12/11/2016 10:33

iR have said equity is not in the table apparently. See shaf posts

[deanroberthunt] 12/11/2016 10:22

it doesn't say they're not about to do a discounted placing, rights issue or D4E though.

[ny boy] 11/11/2016 23:21

Going the same way as Afren, full house f stubborn shareholders who keep thinking this will go up (hope) but looks like more sustained downside (reality)

17th could see the final curtain drawn.

[prewar] 11/11/2016 19:44

I see Dean up to normal tricks and trying to push price down so can get in on the cheap.

Blows hotter and colder than a dodgy shower!

Not sure a forum inhabited by three men and a dog is going to do much Deano but carry on if you think it does.

[cricklewood] 11/11/2016 18:50

Market speculation

8 November 2016

Premier notes the movement of the share price over the past two days and speculation regarding secondary market activity by the Company's debt holders. The Company has received assurances that none of its senior lenders represented on the Bank Creditors Committee have exited, or are proposing to exit, their loan position at this time (including Lloyds Bank). There have been no changes to the composition of the Bank Creditors Committee.

Discussions with the various lending groups on the Company's proposed refinancing continue to progress towards a near term agreement of all parties. Premier retained significant cash and undrawn facilities of c.US$800 million at 30 June 2016 and continues to have access to undrawn headroom under its main facility, with the agreement of its banks.

A further update is planned in conjunction with the Company's Trading and Operations update on November 17(th) .

[mreasygoing] 11/11/2016 18:30

In this current scenario there is a real possibility of a large spike in the oil price.I've a feeling that OPEC will cut more than they originally said. They're all desperate. Saudi foreign currency reserves are down 20% in the past 2 years.

[deanroberthunt] 11/11/2016 18:15

Tom W reckons it's goodnight vienna

[paulbiya] 11/11/2016 18:05

Dean. There is no cash due neat term and PMO fully financed until post catcher

[paulbiya] 11/11/2016 18:02

https://www.rt.com/business/366470-saudi-debt-firms-oil/This is why OPEC will cut. The Saudis need it, the Russians need it

[deanroberthunt] 11/11/2016 18:00

is the end game nearing for Premier? TD has a record.

[deanroberthunt] 11/11/2016 16:40

looking very grim

[begorrah88] 11/11/2016 16:22

A bit of bravado resistance over the last 10 minutes which is most welcome

Might be one of the shorters taking the opportunity to close a few.

[deanroberthunt] 11/11/2016 16:13

NAV

what do you expect from tribal goat shagging savages who before the west cam along lived in tents and ate sand!

[deanroberthunt] 11/11/2016 16:11

Doing some maths, how about they raise £500m @40p, shares then in issue 1.77bn with share price say at 42p (would get near 40p)....mcap of £708m, $630m .....reduce debt to under $2bn??

would that be super catastrophic?......