The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
carroteater,
I will drop it when you
a) Stop bashing Rockhopper on a daily basis ( so you can buy in cheaper before it takes off )
or
b) Admit that you had no clue what the terms book value or market value mean
carroteater,
Avoid the question once again why don't you. If you don't understand the difference between the terms 'book value' and 'market value', yet think you can predict whats going to play out here and have invested £100s of thousands yet remain steadfastly bearish on Sealions prospects, your credibility is completely shot. Now where is that filter button ?
carroteater,
You have just demonstrated that you have no understanding of the financial terms 'book value' and 'market value' You also predict a rapid and steady decline in the share price here, yet you claim to hold £100ks worth and have not sold any since 24p despite constantly calling it going down. Why ?
YOU BOUGHT u you must know how to sell them
I am slightly amazed that BP etc are interested in the Argentinian licensing round. After all the Argentinan Govt shafted Repsol by nationalising their interests, and then settling compensation in the lower range. But I guess Repsol must have made money over the years, and I guess it is a calculated gamble by oil companies that they will ultimately have recourse. I am sure they are looking at bolstering Govt legal assurances, for what they are worth.
carroteater,
Never mind speculating on the price, do you care to comment on what book value and market value are, as you seem to have them the wrong way around ?
I want to sell my shares. I am from pakistan please let me know how I can sell out my shares.
carroteater,
I forgot to state, I'm afraid you are completely wrong when you state ' the book value is what the buyer believes it should be on the buyers books, not what Premier imagines book value to be'
Your statement is completely wrong. The book value is exactly what Premier ( the owner ) have booked the value at.
What the buyer values it at is the market value.
This is very basic, are you quite sure you have 2.3million shares here ?
carroteater,
The book value is what the contingent reserves of Zama have been booked at by Premier Oil. You are correct that this value doesn't matter as Premier is very undervalued, due to poor sentiment, high Debt to EBITDA, Warrants outstanding and over 26% of the stock currently shorted ! $3 per barrel of reserves is not the book value that is the approximate value that recent sales of oil finds have been sold for. Some as high as $6 per barrel, I was trying to be realistic. So $2 per barrel already is a massive discount.
Got to remember that around 40-45% of Zama is not in Premier’s block .
carroteater,
Even at $2 per BOE on the lowest resource estimate that is still $335m at $3 per BOE its $501m
Whats the book value ?
I cant see the sale of Zama alone saving RKH,even if they got a good price. PMO need a good partner to go with it
Interest in Zama is strong with a number of interested parties involved in discussions. You may have seen the Mexican Gov statement recently confirming that the state wouldn’t interfere in Zama and that private companies could develop the field without concern.
It’s a couple of months since Premier hoisted the for sale sign so expect something within the next month ie by the next quarterly update.
Farm in won’t be in a traditional sense ie another oil major. It’s going to be an equity investor like Apollo who will take a stake in the project and this won’t be announced until the Zama sale is confirmed. Once these boxes are ticked it will form part of the requirements for the UKIF loan which will then be signed off. The conditions and requirements for UKEF sanction will be known and have been shared. Premier just have to deliver their part of the bargain to get the go ahead,
And then we can all look forward to a nice cash injection from Ombrina Mare.
In the meantime this is going to be as interesting as watching paint dry. Volumes are so low that I could sell my house and increase them 10 fold with the proceeds.
We’re in the final straight now, just be patient........