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I hope they can drop the Price tomorrow so I can pile in here and then sit back for a year and not bother looking at daily charts, Ill take the dividend and the rise in value of my investment.
With £51 profit, not even joking lol..........i have no patience
Today is the final day for Permex to agree Zama unitisation with Talos consortium. If there is no agreement, it goes to Mexican oil ministry to decide. The Mexican authorities decision is not legally binding and, if still disputed, it goes to international arbitration.
This could take a couple of years if it goes to international arbitration.
I am hearing that parties are much closer but no agreement has been reached and both sides have applied to Mexico ministry for a small extension.
Customer Advisory
Update on Vessel blockage in the Suez Canal
March 24, 2021
Dear Valued Customer,
As you may already be aware, the Suez Canal passage is currently blocked to vessels in both directions. A container ship operated by Evergreen Marine was knocked off course by strong winds and a sandstorm early Tuesday March 23.
Unfortunately, the operations attempt of refloating the vessel during the night has failed. Two dredgers will continue to dredge throughout the night. At this time (0015 AM local time in Suez, Egypt), towage service has been suspended for the remainder of the night and will resume approximately 0800-0900 local time.
The incident continues to create long tailbacks on the waterway, stopping vessels from passing and causing delays.
A.P. Moller - Maersk is constantly monitoring the current situation and closely following the efforts of the impacted vessel to further update the accessibility to both south and north bound services.
So far, seven Maersk container vessels have been affected; four of which currently within the canal system while the rest are waiting to enter the passage.
To access the list of Maersk container vessels affected, please click on Find out More.
All customers whose cargo is impacted by the current situation will receive specific information regarding detailed schedule changes and alternative options provided. While out of our control, we apologize for the inconvenience this incident may cause to your business, and we will do our upmost to mitigate the delay as best as we can. Your supply chain is of the utmost concern to us and we will continue to keep you informed of all developments.
In case of any questions, please contact your local customer service or sales representatives.
Thank you for your understanding and cooperation. We look forward to continuing working with you in the future.
Best regards,
Maersk
https://oilprice.com/Energy/Crude-Oil/OPEC-Will-Keep-A-Lid-On-Oil-Production.html
Zama still not decided.
https://seekingalpha.com/news/3675985-pemex-talks-with-talos-over-zama-oil-field-may-miss-deadline-bloomberg?utm_source=investing.com&utm_medium=referral
What you call a BIG ship !!!! >>
https://www.bbc.co.uk/news/world-middle-east-56516151
Can PMO shares still be traded friday the 26th or is tomorrow the last PMO trading day?
Interesting article
https://apple.news/A9BoXqomtTGqYIkLyY4_R-w
Apologies for poor typing and hope they have nice shirts!
Re Moreno’s question. There are no changes to your existing PMO shares as it is the same legal entity both pre and post merger. All that is happening is they are changing their name from Premier to Harbour, acquiring Chrysaloar’s assets and issuing a boat load of new shares.
The name change will be dealt with automatically via your trading platform or broker.
Kraken
Please reread my post. ARCM and others have borrowed stock and sold it as you state. However they are receiving 3 billion creditor shares. They will use some 170 million of these creditor shares to hand back to the original PMO holders they borrowed the shares from (to. Lose the short). They are not betting on the price going down - this is the last thing they want - as they will be holding billions of shares after closing their shirts.
All they are doing is pre selling some of their creditor shares.
Re other
Acrm will be the owners of multiples of the stock they shorted . The debt for equity will be more than enoughListen to cover short positions. Listen to Stevo he knows what he's talking about
If ARCM can push the SP pre takeover and they can hold the price down converting their Bonds into more shares per pound then its a good move but it’s still a gamble if the conversion price is already set, all depends on their average price they borrowed the stock at.
Now the oil price rises this week it could bigger up there game plan
Stevo - borrowed stock is borrowed and has to be returned end of.
If ARCM are holding borrowed stock at the time or anyone else is holding borrowed stock that they haven’t sold this stock will be converted into borrowed stock in the new company.
It still has to be handed back to the owner of the stock. The whole point of borrowing stock is to sell it into the market to push the price down so you can buy it back at a cheaper price otherwise there is no profit. You can hold borrowed stock if the price rises and just hand it back, but you don’t want to get caught after you’ve sold it and the price rises as that’s the point a squeeze starts as limiting the loss on a short.
Hi guys I’m in new in this platform,, I have one question as I’m not clear, when Premier oil change its name on the 1 April, to Harbour Energy PLC all our shares will be transferred automatically,,?? And will be the same price or can go up or down with the market price,,?? Thank you for your opinions
Kraken
These are not normal shorts. The shorts relate to the debt holders firstly hedging the gain on the distressed bonds they bought and now selling their creditor shares ahead of receiving them on 1 April and locking in their proceeds.
As an example, ARCM held debt of $300m dollar and as part of the merger settlement will receive $180m in cash and just over 300m shares (1.5 shares for each £1 of debt). ARCM have shorts outstanding of just over 60 million and so will hand back 60m of their 300m shares in early April to close their short. Total shorts have increased from 120 million (12% of total shares) In January to 170m today as the other debt holders (principally Melquart, Whitebox and Mirabella) borrow more shares and sell them pre merger. Post merger they will the hand back some of the creditor shares they will receive to close their shorts. Accordingly they have guaranteed the price they will receive (approx 30p per shares as last short increase was on 22 March) for their creditor shares which have been sold ahead of a potentially very volatile April/ May as the 3 billion creditor shares look to find new homes.
Hope this explains and expect more shorts to be taken out tomorrow and Friday if share price holds up. This is placing a cap on share price at moment with as of today over 50 million shares shorted over last 8 weeks - amazed the share price has held up so well.
SK we had -5% day yesterday
I think the ships blocking canals are just an excuse for high oil prices that will come because of a dollar being closer to a toilet paper
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The trouble is SK if the canal is blocked for any length of time all those oil tankers are going to have to sail right around africa 20 days of burning more fuel, supplies will be hammered oil prices will rocket
Well I think we going to blow past the 68 WTI before summer. I noticed that recently oil is highly correlated with US10Y. Plus I think it will be harder to sell covid BS on people when it is warmer and inflation is going to push Oil price higher.
Carnival with their cruise ships will be the place to go for a covid free holiday. 2 jabs and test before they will let you on board. Then it seems to me you have a ship load of covid free holiday makers........................................
Open the BAR !!!!!
All IMHO.
ship might hit an iceberg soon. be careful.
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