SP - if you feel the need to short based on some differential in your head between POO and the SP be our guests. I think I can speak for most on this board that we are interested in news when it arrives. You may get the positives that you and Mark mentioned thrown back at you if you decide it's time just to emphasise the negatives.
Good afternoon SPKiller. Well, there is an awful lot of negativity on this thread today which is a little surprising considering the industry climate appears to be improving quite markedly by the day? I am trying to ignore the obvious provocation and am instead looking positively at the bigger picture emerging here. The day-to-day share price movement is not something I will be concentrating on too closely, I'll leave that to other commentators.
More good news, Brent is recovering very nicely indeed, currently over $62. Why is this good? Because Edison had forecast that even with Brent at $50 we should be able to borrow $300m based on their so-called 'distressed' estimates. So at $62 the borrowing capacity is theoretically increased quite dramatically. So if as expected, we can back-end a good proportion of the costs, reduce the front-end cash costs by industry discounting and secure the balance from the debt markets, which should become more relaxed as oil prices rise, then I estimate we should be able to secure a fully funded FDP in the coming months. Isn't that good news? Let's be more positive as the climate improves.
So Mark E Smith your saying the board should follow your lead depending on whether your long or short? You really are a prize idiot and I sense you will dissappear very soon to be replaced with another with an oh so similar posting style. Interesting you and SPK both have taken the same approach at the same time GLA Jam
Too many negative posts today, so I'll try to lift the gloomy mood. If you compare this with Afren you'll see we are in a better position despite being years away from production. Why? Because we can pay our interest to the lenders for the foreseeable future as we have at all times 12 months of interest in escrow. Therefor we can ride out the tricky times whereas Afren is having to restructure its share capital to enable lenders to swap debt for equity. This could leave AFR shareholders with a small minority rump of the company. At least we don't have those immediate worries to contend with. Now isn't that something to be cheerful?
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