Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone 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.
I believe based on the MCap of £6bn
So an existing holder will retain the same number of shares under the new name?
Correctamundo
The name will not change, neither the number of shares owned. Only valuation will change. At the start they will be penny stock according to the valuation. The it will be a market that will decide how much they want to pay (ie how much it is worth to buyers). I doubt it will reach £30 per 100 tomorrow, but it will be a perfect opportunity to get into a potentially massive shares at very good price
Gouda...I guarantee the name will change from Premier Oil to Harbour Energy.
Yes old pmo shareholders have 1 new harbour share for each PMO share.
If the share price was going to be 30p tomorrow, it would likely be 30p today, unless there is a big spIke in oil prices overnight. The share price has been held back over the last few weeks by creditors pre selling there shares via shorts which have increased by 60 million. I Believe this downward price pressure will continue tomorrow and for the next several weeks as the distressed debt investors sell their 3 billion allocated shares to equity funds. This will ultimately create a free float of 4 billion shares by early summer and the share price will then hopefully achieve fair value with dividends declared, results published and FTSE entry confirmed. Fair value will ultimately be linked to the Oil futures curve and whether recent gains in oil price has been retained.
The name will change - see here : https://www.oedigital.com/news/486474-chrysaor-premier-oil-set-to-complete-merger-and-become-harbour-energy
Similar estimate as in this article. We are at a discount.
https://www.oedigital.com/news/486474-chrysaor-premier-oil-set-to-complete-merger-and-become-harbour-energy
Already posted I see - sorry! But good news worthy of reinforcement :-)
So if the 18510652139 shares are valued at 23.5p we would have a Mcap of just £4.3b - that’s very cheap for a company producing 200k oil per day plus gas.
This has to be a no brainier BUY
So how many Pmo shares to 1 new share ? 4 is my guess
23.2p support getting tested today. next stop 18p. british bulls TA says SHORT.
support gone sadly
Will they do a bog off deal, buy one get one free while stocks last in the last hours of trading before the "sell by " date ends. Might need to stock up the fridge !
Interseting point you make Krak about £4bn mcap, Jeffries value new entity at £6bn, so the shorters could get toasted, distressed debt investors best strategy is to hold their shares
its worth min 30p all day long
https://www.youtube.com/watch?v=MXuHZ4WtMvs
Lol- it's like the Good , The Bad and The Ugly film with Clint Eastwood. Gunslingers with spying each other through crooked eyes. Who's gonna draw first...
Let's see if some positions close this afternoon.
Distressed investors will not want to hold shares and they will be keen to redeploy their funds to the next victim - they will not leave money tied up in harbour equity. They have been given a sweetheart deal and even at 20p, they are making a huge profit on their original investment. I invested in PMO bonds in June last year and it has been the best performing asset in my portfolio.
Many of the distressed debt investors have already sold out by taking out shorts (including me), but this only accounts for 170m of the 3 billion shares they will be given tomorrow. Shares price for next few months will be driven by how quickly the distressed debt investors sell their shares and what floor price they are willing to accept.- I am betting 20p to get out quickly, but this is just my personal view.
I also invested in Premier shares and will buy more on the dips around 20p post 1 April. This is going to be a great share in the medium term but everyone needs to fasten their seatbelts for high turbulence.
18p for me!!
DBNO - your predictions have been appalling, I can’t remember you getting anything correct.
Well deramp as much as you can today as it’s your last chance.
On the PMO board.
I suggest you buy in quick
granted its bounced a wee bit. not gone under 23p yet! but look where the oil price is. still think $60 WTI will get tested again. and then if that breaks next stop is $58. just be careful folks! and its not end of tax year yet. lots of new shares trade tomorrow!
bounce up to low 24s but no higher! then back down imo.
You called 18p 5 min ago, now it’s 24p your calling wtf
I am not saying the share price will fall to 20-22p today but over the next 2-3 weeks as creditor shares are unloaded into the market.