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...for all my trolling I sincerely hope the outcome is a much better one than I anticipate. I would be happy to be wrong.
These last 10 years have been a bitter experience for me as I'm sure they have been for many who invested in energy stocks. I see them as 10 wasted years not only from a financial perspective but also, quite frankly, from a life perspective because I invested not just money but passion and belief.
I was wrong. Hopelessly wrong. Just look at BP RDSB and Exxon. It's not just the minnows that have destroyed wealth.
I hope our fortunes change but for me the dream has died already. It's now about salvaging what I can.
Best
Happy
SK
I don't who that is. I have no moniker other than HappyInvestor (yes, it's supposed to be ironic!).
Oh and I am not short either. I don't believe in profiting from others' misfortune.
News soon. Let's hope it's all good for your sake and other investors.
Happy if you are not short or invested in Premier why are you wasting your time ?
Because I don't want other people to lose money "investing" in garbage like this...
Hi HappyInvestor100, I've been having a look at this recently and it does feel like a pure gamble to buy PMO shares now, albeit an enticing one.
If you are correct with your risk v reward scenario though, then it doesn't feel like a particularly favourable bet.
More delving before I make a decision to buy or not though! Cheers
To clarify my comment about risk v reward - I am referring to whether or not the debt due tomorrow gets waived.
Happyinvestor100. Spare us the sorrow stories please.
Atb
Waiver = 10% rise
No waiver = 50% fall
Doesn't sound a good bet to me but energy investors are like flies to sh*te...
Let's just hope for the mother of all RNS soon. We can all live in hope !!!GLA
what spooked Olivia?
Listed companies have a responsibility to provide timely information, and to avoid an irregular market in their shares, you'd think the position as stated would mean they'd have to inform the market/shareholders if they are facing an immiment credit issue. Even if it's still under negotiation, they've drawn attention to the potential issue if there's failure to reach agreement over testing the covenants on the 30th. You might also hope for an update on how their broader trading position looks. Not just creditor/deal discussions.
Big sales of PMO1 going through today, I'm going to see if there's been a press release over last Fridays auction, see if they got it away and at what price.
Big sales of the bond? I’m seeing down 20 bps at 69.98 mid. Hardly indicative of a imminent credit event.
Early this year the bond was trading below 40.
Your ARCM overlords will not pay you if your shilling is this bad LOL
No news on the ARCM auction either.
29-Sep-20 13:58:51 69.05 10,000 Sell* 69.05 71.00 690.50k
29-Sep-20 13:55:13 69.15 10,000 Sell* 68.85 71.00 691.50k
29-Sep-20 13:49:35 69.35 10,000 Sell* 69.35 71.00 693.50k
Given you think these are mom and pop only instruments. ....As I've also, you can get a trailing effect with bonds.
But, there is an immiment credit event isn't there! Honestly. Why do you think the company draws attention to these things in it's RNS's - if it's not important.
You place the dot in wrong place
Those are £7k transactions... as below:
https://www.londonstockexchange.com/stock/PMO1/premier-oil-plc/company-page
I haven't placde the dot wrong anywhere, I've just copied them off this site. If they are wrong it's because this site is listing them wrong.
You are correct.
And it's strangely comforting that someone else feels that way.
Too much time wasted. Money? Pah! Time? Precious.
I tell you what is interesting off the LSE site, their calcualtion on the YTM (using the exiting maturity date I preseume) YTM 68.611%
This close to maturity, if there wasn't a chance of default, those would be trading around par.
But, of course the company has given an indication of what happens if they can't kick the can down the road again, haven't they...a credit event.
"Devon; my faith in you lost. Go away, please."
LOL, keep stuffing the cash in.
"waiver/extension."
But on what terms and what is going to happen about the deal, that's what we are all waiting to hear about.
"It's in everyone's interest?"
Extension maybe, the deal is less certain if you ask me. Otherwise they wouldn't, on the face it, still be trying to get the 75% level of creditors on board at this late stage.
We should know very soon though.
YTM 68.611% - just let that sink in LOL
Those are 10K face value trades, Devon. How could they possible be 690K?
"How could they possible be 690K?"
Because, thats what this site is reporting, did you see the YTM, the market prices this with a return of YTM 68.611% - just let that sink in LOL
And you still don't think this debt isn't distressed? "Hardly indicative of a imminent credit event." Hold them to May 21 and you get a return of 68% on redemption. Honestly.
68%!
Trying your hardest to scare people into selling
All the ping-pong, extension of covenants, increased production from Solan, Andrew is already built into the 16 p sp. With current oil price and sick world economies this sp is only going downwards. IMHO until there is a firm swing in the general outlook. Its not happening this quarter IMHO. Still waiting for 10p