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Can you please explain to me why they would want a lower RI pricing? That's just going to add a whole lot more shares to the total. Seems crazy to me.
Well done GGG on getting your target today.
Mind the gap!
Well got my quick £500 earlier. I think the only way to play this stock at the moment is to hit the morning drop and then sell mid-afternoon when the US comes online (providing there was a reasonable drop in the morning). Price is definitely being managed downwards, to what end is the question. I've said before I believe a RI will be announced soon, and felt it would be at 40p. Now starting to think it will be lower than that... Keep in mind there's a pretty decent gap to be filled (39 to 31p) that will drop us quite quickly with a good enough reason.
Are we certain Zama will be sold?
Situation with Pemex doesn't inspire confidence, so might put off potential buyers.
Probabley wise SK. I remain a LTH ( relatively speaking ). Just trading small amounts. There is a long way to go and ALL hinges on PoO (obviously).
BUT i do think if/when Zama gets sold and Tolmount is operational (gas) PMO could find themselves in a safe(er) position. Would really like to see the platform in this year..but thats probably doubtfull. No idea how long it will take to get to first gas...that will be a good day.
TD must be praying for the day he can get the financial gorilla off his back and get on with normal OnG operations/problems and "hopefully" securely financed projects. Live in hope...hopefully not the Forlorn hope type of.
Rgds Sft
SK, came back in at 40 (readded previous profits). Reason I do not see Brent dropping that much more, still remains in "relative" demand.
Risk: Obviously OPEC+ agreements only last until end July.
GS have exited quite considerable: profit taking? concern of PoO? concern over RI and dilution affects on sp? Concern over Zama? Or as others said tied in with ARCM
ZAMA: TD/PMO has been very quite on this isssue as they have had to have been. Needless to say this has been the real fly in the ointment for sale of. As mexico have not completed any drilling to prove their claims will the Zama group have any recourse to defend against Mexicos claim. Maybe the 1/3 demand is the start of negotiations but it does not encourage buyers or investors. It has obviously been going on a while hence mexico putting a 120 day limit. All in the hands of the Lawyers and the fine print in the signed contract?
Positives: Heard pipeline work ongoing for Tolmount, will be good when the platform is on route to site....but it (imo) needs to be installed before sept...i.e. weather risk.
Zama once sold will bring much needed cash
ARCM on board.
Shorts on PMO lowest in a long while Especially as ARCM removed 10%
Maybe good keep an eye on any build.
https://shorttracker.co.uk/company/GB00B43G0577/
Should be interesting.
Kept cash in reserve just in case it drops alot more.
Rgds Sft
Nope but there'll be a bounce this afternoon when the US comes on line. I'm expecting to be out by end of play for hopefully £500-£1k profit.
Back in for a quick trade of £20k at 39.99. It's good for a trade here. RI is going to come. Question is when.
Wasn't someone suggesting that the fundraising was likely to take place around 40p/share?
Not quite sure where they got that idea from!
Should have stayed away longer. The sp was much better when ARCM was on our back.
Still we haven't dropped any more so it might just be some ii's who are 'repositioning', maybe a Holding will be out shortly to reflect this. And/ or what with many shops/ businesses starting up again investors are withdrawing on fears of a sudden spike over the next few weeks.
A fair few large reported buys coming in
Added 25000 shares
The next thing the media will be spouting will probably be the complete opposite of what they are bleating on about now. They spin round within a day or so.
Also. $40 floor in Brent, positive trading update next week. All looking good
As good a time as any to start building a stake again. Below 40p was the target. PMO are not alone, the entire ftse250 has been weak as cats doodle, sentiment is very bearish but it will filp in an instant and many look very oversold now. Also looking at the charts, an educated guess as to the moment to begin stake building would be about now.