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Good one - lets keep adjusting the NAV as we go forward ? Thats a real important bit about the whole deal, In fact maybe we should adjust the deal date as well - and also not collect the cash from BP either. Maybe we should reject a 23k increase in production - what would we do with all that extra oil ffs ? Maybe we should have kept the whole deal secret and not reported it!
Seriously - my focus would be on where to get 140M shares
The deal is going through
did Numis also respond to the new post on the website? the nav assumptions
https://arcm-premieroilscheme.com/are-the-net-asset-values-for-the-proposed-acquisitions-based-on-realistic-assumptions/
Thought i'd just have a look at the real meaning of hedge funds, thought the last sentence below was funny.
Hedge Fund is a type of Investment Partnership.
The most common type of investment partnerships is Mutual Funds. They invest in publicly traded securities (stocks & bonds), and anyone is allowed to join. To protect general public investors, Mutual Funds are heavily regulated and restricted in what they can invest into.
So ACRM haven't even loooked at wikipedia to know what they can and can't do!
I can't see oil going much lower and with PMO holding up well any bounce can see us improving. Hopefully the days of wild price swings are behind us.
Absolutely Bladesman, the rules are the rules. However ARCM try to spin it, ultimately they are pis***g in the wind.
Beer bull agreed. In any event, it matters not what arcm think of the strategy, the court at the SoA hearing is only interested in whether pmo have the requisite approvals in accordance with the rules. If they have (which they do) it's going to get approved. Simples. That why there is a sea of blue large buys posted after trading despite poo tanking on Friday. The market sentiment has finally changed in favour of pmo. Hell knows what the sp will be if poo gets to, or near 70 again!
PMO will be joining the 100k plus bopd club shortly. Debt will be less than 2bn usd & that’s before zama is booked. Ok dilution imo is a negative, but finally this company will have a secure future & be far more investable for institutions ,
ARCM claim that the decommissioning costs are of a major concern. What a load of disingenuous tosh. Their solution is simple sell the debt at a huge capital gain & reinvest the funds somewhere else, their is no shortage of opportunities. Does anyone believe the tripe they are spewing, IMO these statements just makes them look desperate & silly.
Love this part:
Numis also laid into ARCM, saying: “The questions if anything point to just how weak ARCM’s position is in our opinion.”
The article fails to mention how the huge short position was built up undeclared.
Apologies, should have read yours first .. essentially the same!!
Worth a read too - I thought it was going to be negative to PMO, but reasonably balanced per se.
https://www.standard.co.uk/business/hedge-fund-steps-up-fight-against-premier-oils-north-sea-deal-spree-a4343631.html
Again thanks from the other board!!
https://www.cityam.com/premier-oil-creditor-doubles-down-on-opposition-to-acquisition-plan/