The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Already posted I see - sorry! But good news worthy of reinforcement :-)
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
The name will change - see here : https://www.oedigital.com/news/486474-chrysaor-premier-oil-set-to-complete-merger-and-become-harbour-energy
red day coming
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.
Gouda...I guarantee the name will change from Premier Oil to Harbour Energy.
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
The consensus view appears to be as here: https://www.oedigital.com/news/486474-chrysaor-premier-oil-set-to-complete-merger-and-become-harbour-energy
But with a divi in the offing who knows?
Correctamundo
So an existing holder will retain the same number of shares under the new name?
Yes 1 for 1 and it will open the same price as what it closes today. It might steadily climb or even go down who knows but I doubt we will see 30 tomorrow all imo this isna great mid to long term buy.
MCAP might be 6 billion in new company but PMO is only 5% so its just same same so what does it matter
Market capitalization has increased also, nobody really knows what will happen some new news could come out etc but based on where we are at the moment I'd say volatility until june and we can all look back and laugh that we got in at 24.
I believe based on the MCap of £6bn
Is it a one for one new share allocation for existing PMO holders- or is that an unknown?
MCAP old co £300m
MCAP new co £6bn!
Bro, we knew that back in December!
shares in issue 925.53m. from tomorrow 18,510,652,139. huge dilution.
Dear Yogi, no one has clue, not even Ranger Smith, and he manages the whole of Jellystone Park. But I can tell you on Tuesday, if you can wait till then, Happy Easter !
Bladesman - Do you know and are being coy or do you simply not know?
Yogi, I thought you were smarter than the average bear, so you go and figure than let us all know, please. But, dont make a Boo Boo, your pal wont like it !
Thanks RG, not disputing that but already own a scary amount and is about half of my pension pot. Risk management and my missus doesn't allow any more exposure. I have an ave of 24p, so not much benefit in averaging down, unless it tanks, which cant be ruled out knowing this share. Gla.
looking forward to April, This has been held down for a long time, I think the fundamentals on TLW are far worse yet its double the SP of PMO, for me its a no brainer at this price.
Bladesman, You might be best to buy more than one as tomorrow could be the last chance to buy at this kind of level. The retrace from 33p to 23.8p doesn't make a lot of sense on fundamentals. All the producing oil co's have retraced but few as far as PMO in the last 3 weeks.
The big question for me is whether Harbour can maintain production at or above 200k and convince the market that they have a strategy to do this - they have no shortage of North Sea options to replace the ageing stuff but they will be running hard into a decommissioning headwind and falling North Sea production - thank goodness for the PMO tax losses, and Tolmount coming on stream.
My feel is that they will progress Zama until they see what else there is in PMO's Mexico stable, and will either take a much bigger position in the Far East or really go for the Falklands but probably not both.