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And lo! It slippeth.
Concur fully Beerbull.
And yet today's rise is still a little bizarre..... often we take all day and millions traded to reach this level of increase. Not complaining but can slip back easily with one sale.
Agreed.
Pay down debt.
Sea Lion,Tolmount Alaska etc is plenty to go on with.
Once GS stops meddling this share will realise its massive value.
Pmo hasn't plenty development opps already ongoing ... I dont think they looking to purchase with cash or equity
I guess all long holders were disappointed with yesterday’s sp action given a strong & on track update, but maybe the PMO sp is growing up & maybe the wild gyrations of the past won’t be seen so frequently.If that’s true getting some of the day traders etc off the company’s back is IMO a positive. At the end of the day slow & steady wins the race.
Maybe SRA, but as a shareholder, never great for the sp & the pipeline is building nicely anyway, so not sure equity holders would be happy at going down that line. Also, IMO its better not to have all your eggs in one basket, spreading risk around with partners a better route for smaller oilies.
What if they raised equity, instead of debt, for the possible purchase of Tolmount (or other assets)?
Don’t think so Andy, they have bigger fish to fry SL, if they can structure this field it along the lines of Tolmount, I think the market will respond positively.
Premier have been clear on this, imo. From the HY results:
"The Group's immediate priority is to further strengthen its balance sheet and this, together with significant industry interest, has led to Premier initiating a formal sales process for its interest in the Zama field which, if successful, will result in a material reduction in debt levels".
I hope not Andy, that's the problem with this share, too much debt and the market does not like the risk.
TD was tasked with getting debt down not going on spending sprees again.
The only way shareholders will finally see value is when debt reduces to a reasonable level utilising the assets already in the portfolio both now and for future.
The Zama sale will be very welcome cash into the PMO coffers and help reduce interest payments at 7%. All just in my opinion. Good luck
I wonder if the reason Pmo are trying to sell their stake in Zama is in order to buy the 50% of Tolmount which is up for sale?