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Never seen a stock that can be manipulated so easily
they want us to own 5% of sweet FA, getting screwed big time here.
PMO certainly has ruined a lot of people, legal robbery at its very finest
Looking like 20p by Friday, or lower?
shorters are raping this share i bet the creditors are behind the shorts
Rookie, I am a big fan of natural medicine and making our bodies strong enough to fight whatever Mother Nature (or humans ) throw at us. That's the only way out of any viral infections - building own immunity and strong body through good food, clean water, exercise on fresh air and good mental health :-)
Hi redinthemed, ofcourse its very huge and Premier Oil will be part of the deal if the group accepts the invitation. Good luck for tomorrow
VILLAHERMOSA, Mexico, March 22 (Reuters) – Petroleos Mexicanos (Pemex) would consider having a consortium headed by U.S. company Talos Energy operate a shared oil field in southern Mexico, the chief executive officer of the Mexican state oil firm said.
Discovered in 2017 in shallow waters of the Gulf of Mexico off Tabasco state, the Zama oil field is believed to contain nearly 700 million barrels of oil, making it the biggest new find in Mexico by a private company in decades.
Identified in an area operated by the Talos consortium, the discovery also extends into Pemex's neighboring block.
In 2015, The Talos group won the right to explore the block in tenders held under former president Enrique Pena Nieto's opening of the energy market to private capital.
Zama has become a litmus test of private sector confidence of President Andres Manuel Lopez Obrador's government, which quickly canceled further oil tenders.
Pemex CEO Octavio Romero said although his company had the wherewithal to operate the field, he was not set against the private consortium doing so, provided it met certain conditions.
"It's not a case of 'I want (to be the operator) because I'm the biggest, or I'm the best-looking,' it's because it suits them and it suits us," Romero said in an interview in Tabasco. "We're talking about it, we're analyzing it technically." "It may be at some point the consortium meets all the criteria that matter to Pemex to develop this field; if all the conditions are acceptable and beneficial for Pemex, we could analyze it," he added.
Made just ahead of a key deadline for agreement between the two sides, Romero's comments hinted at a shift in posture: just over a year ago, he said Pemex wanted to operate Zama, arguing it had most of the deposit and could develop it faster.
Talos, whose consortium also includes Germany's Wintershall Dea and Britain's Premier Oil , did not immediately reply to a request for comment.
Urging them to come to terms, the energy ministry extended until March 25 a deadline for the two sides to reach an initial unitization agreement to set rules on shared operations.
However, since Lopez Obrador took office in December 2018, his leftist government has halted that liberalization of the market and vowed to strengthen Pemex against private competition.
Both Pemex and Talos have argued they can best develop Zama and have most of the oil in their part of the field.
Asked whether due to a lack of funds Pemex would be willing to grant the consortium the right to operate Zama, Romero said that while economic limitations did exist, they were no reason to sign deals contrary to his company's interests.
"We can't accept being told: 'since you don't have the money, you have to accept my conditions,'" he said.
"We are Mexico," he added, noting that Pemex is deve
i am surprised no one here is commenting on the news of mexico's pemex offer to talos! pmo is part operator of this field. surely this is very good news?
Seams remarkable to me that this share is a money toy to so many manipulative market people and traders. I suppose I am guilty of being opportunist with it too, all be it in an amaturist way, swings in price not exactly predictable but a good few of us here taken advantage of it. My turn next to get fingers burnt I fear, but one more punt before it becomes a steady eddy... Yeah ok then, standing at the roulette table !
GLA
I’m just a conspiracy theorist though apparently :-)
Lol re covid, is anyone ready to admit I called that all right, again?
Stop beleiving the media, they are lying to you again and again and again , there will always be something made up to prolong lockdowns. Take all the vaccines you like it won’t change a thing while they have people mindlessly following their orders, very dangerous times.
I was thinking I would get back in at 25 on the 1st april but I have a feeling this is going to go lower, but how low, anyone with crystal balls, or crystal tips, please let me know, ta :)
GLA
Oh dear, with EU already complaining that UK took all of it, these batches are likely to arrive for the autumn lockdown
Sounds like a good plan!
Steve, it’s all very well recommending folk to trade the stock but the tax implications could be substantial and the current CGT allowance is pretty low per year
Thanks for that Steveo. Sadly I have to take the money out on April 1st so I will need to take the loss. Hoping it doesn't open any lower than 26 or i am in trouble.
matcur
It all depends on the level of institutional demand. There will be lots of match making going on now behind the scenes as Harbour tries to find long term equity funds to buy shares from the distressed debt hedge funds. There will be significant demand at end of June once we enter FTSE100/350 but I think we will see share price capped in early months as creditors sell shares into any rises. I think you will make good money on your 32p but you will need to sit tight until Q3.
Do a bit of trading in April/May to average your price down. Buy in low 20s and sell in high 20s.
If what you say is accurate Stevo what do you see the price being at open on the 1st. I have a substantial amount that I stupidly bought at 32p. I know I won't get that back then but was hoping to get out close to it
Shorts are increasing significantly and will continue to rise until 31 March which will put a cap on share price. They will all then close in first week of April.
Gosia
The creditor shares are primarily held by distressed debt funds. They don’t hold equity for any length of time and will be looking to unload them off market to institutional investors (even at a discount). You are right that they will not want to trash the share price but they will want out ASAP. A number of the creditors are selling their shares already - look at the increasing shorts. We are going to get a lot of volatility and a depressed price for rest of this month as creditors keep increasing their shorts ahead of 1 April. The shorts will close in first week of April but it will take several weeks for the remaining 3billion shares to find new homes.
I have put aside a trading fund and will be buying shares in April/May on the big sale driven dips (20-22p) and selling pn the 28-30p rises. I hope to do this several times over the first couple of months.
I am confident in the long term future of this share and I believe it will be 40p by Sep21 if brent stabilises at $55-60. Add 15p for every $10 increase above this level
Yep be glad to see back of PMO
Sadly yet another day down and not a single short sold it would seem. 10 solid days red and around 25% down. Wish this nightmare would end.
to assume that PMO SP represents 5% of the market cap of the new HE, well if that's the case they have just marked it down again today, you would like to think that they could see a bit further past the price of oil in PMO's case with the merger about to happen, but no, they just keep slicing away at the price at will, I will be glad to see the back of the mess TD caused us in here, glalth.
All the short sales will be declared at / after 4.30pm, many will be delayed trades as certain short sellers won’t want to be tied into Harbour
im bullish on this as the correction is over I believ