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60p a share?
could be 10p. this is still in a strong downtrend. most other oilies closed up today.
Fact. Brent oil is $41.76. Fact. premier oil stated break even for year would be $35.
Brent has recently been $45-$46.
Bought more today.
Bye.
We will hit 10p soon enough one way or another
SP went close to 10p in March i think. but intra-day. it settled around 15p if i recall.
Plenty of fireworks to come before the cake, its all there if you can read it and put the jigsaw together NOM NOM NOM
https://getyarn.io/yarn-clip/cf6fc2cb-196a-4e54-9465-789d85f01bed
Emerald,
If you don't mind me asking where did pmo state breakeven was $35, thanks.
Jono, check back through the RNS, it was in one of the recent TU's
OK doing that just now, again.
Cash do you agree with breakeven at $35.
They been bringing their breakeven down and down - right now, whilst its important, the most critical is this refinancing - if Tony simply got it done and out the way it would leave the SP open to some action but its being held in place for the RI and heavily manipulated right now.
I have a feeling that as month end nears, we will start to see some very big swings in SP until clarity is thrown into the mix.
Did find this
The Group's base case going concern assessment includes the completion of the Corporate Actions, including the Proposed Refinancing, with a base case forecast assumed oil price of US$35/bbl in 2H 2020 and US$55/bbl 2021, respectively and production in line with prevailing rates. Under the terms of the Proposed Refinancing agreed with a subset of the Group's lenders, the Group's debt maturity will be extended from May 2021 to March 2025 and the revised financial covenants are expected to be set at a level for which there will be sufficient headroom to ensure compliance at oil prices and production rates below the assumptions made in management's base case.
So $35 in 2020 to $55 in 2021.
But these are just assumptions.
Quite right to highlight financing as main concern here.
Reading results is very revealing and imo concerning.
Debt the biggest anchor around pmo was reduced to US$1.97 billion at end of June (31 December 2019: US$1.99 billion) very concerning, they only reduced it by 20m in 6 months and the next 6 months don't look very promising!
I dont expect oil to really pick up until mid next year, how can it without a vaccine ? As for pmo saying $55 a barrel for 2021, I think that's a bit optimistic imo
So much Repeditave Rubbish posted on this site from so many Clowns Every day same ol same ol.
JD - Yes , including the repetitive "repaditave" rubbish you post - get a life..
SK all oil companies want a better oil price but not all oil companies have the amount of debt that pmo have.
Many companies will survive and make a profit at current levels, even lower, but can pmo?
I think you know the answer.
Ditto
“I wonder what a takeover price would be?”
I don’t think TD will let go of Premier Oil.
SK not if oil price stays low.
Think next few days will be revealing.
AK maybe pmo will let go of TD.
"AK maybe pmo will let go of TD."
I hope so asp... He must step down or will be pushed?!