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Quite Beerbull, it won't be dilutive in terms of the sp.....far from it, and I very much doubt those shares will be winging their way onto the market any time soon. The original lenders won't be selling at these current prices. If there had been any notion of dilution, I really don't think the market would have added 25% to the sp on Friday! Great deal I think. TD (the other one) clearly ain't no muppet! Just a shame that ARCM have come out of it smelling of roses, though as others have pointed out, this whole kerfuffle has allowed TD to get a better deal from BP. Would have liked to see the FCA at least fine them for malpractice.
I agree Tarth, clearly an increase in shares is dilutive, but this deal adds circa 350m usd turn over pa at current prices. No wonder the sp jumped on Friday. Assuming no hiccups could be just the beginning.
bfc1......I would say no, simply because those shares have been paid for in a deal that adds a producing asset to the company's portfolio, which will have a value greater than the cost, and that negates the dilutive effect of more shares.
Great deal for PMO. assets deal, will help with paying down their large debt at a faster rate..
Filter the Nay sayers....They just go on and on ....
Ok thank you..... Well in respect to the proposed BP assets deal, I believe they are invaluable to pmo in renewing their refinancing and also to help with paying down their large debt at a faster rate... hopefully the deal will conclude without problems by the 30th September. And assuming Brent continues to rise between now and the end of the month I can we'll see 50p plus being reached......but as for next week after a 25% rise in one day and Wednesday new shares in circulation.....I'm not sure how it will play out. So many things can happen as you know in a week never mind 6 months ahead .....could be £1 at Christmas if everything goes to plan....but it could be anything ....even 15p for unforseen circumstances......and shorting good luck to you with your investment we all need it.
Bfc1, yes it’s dilutive.
I don’t know if you guys ever check out the advfn bear pit, but even PMO’s longest standing critic Andyp with caveats is mildly positive about the Bp deal. Shocking news .
If you answer my question first ....then I'll answer yours
On the other hand bfc1 does an asset producing 18k bopd add more to PMO or less regardless of dilution ?
If someone shotrt again in the future it means nothing. I can short tomorrow and loose monies. Shorting is the same as buying. If not cv19 Arcm would loose fortune on this short.
Simple question.... does admitting almost 10% more shares this Wednesday dilute your investment ....Yes or No ?
That’s a big assumption bfc1, if Brent continues to strengthen & Pmo approaching 100k bopd & with financing sorted to 2023, it would imo be imprudent to increase the short again from this far out. ARCM only started to build the current short mid/late 2019 & they could have not seen the fallout from Covid, which has helped them enormously. On a different tact, as I’ve already posted, although it sticks in the craw, I think ARCM has saved PMO potentially hundreds of millions usd, by forcing TD to renegotiate the Bp deal & maybe ARCM may now see the company in a different light. Silver lining to every cloud.
Krakenoil he wants to top up tomorrow :)
WTF are you on about ! ARCM gave just bought £27m worth of stock. They still have to close out there short in a recovering market.
Airlines back in the air soon, China again imported oil at record levels, OPEC deal keeping almost 10m barrels off the market.
ÀRCM investment has been protected ... and we'll have our investment diluted by almost 10% when the New 82.2 million shares are admitted to trading on this coming Wednesday........then after end of September they can go back to shorting it all over again.