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Started: grippa, 2 Sep 2021 23:03
Last post: Westham21, 30 Dec 2021 10:50
I totally agree
I lost money on this but gained it back in Kier. I got out of this in January thankfully
SCREWED this company and its share holders could not of been more useless had he of tried..........
Started: Shebur, 20 Jul 2021 10:52
Last post: chippyjo, 20 Jul 2021 10:54
Harbour energy now.
To this Company?
The end of an era....and the slide continues over at Harbour,:-(
Started: hothead963, 6 Apr 2021 10:19
Last post: Tarrier, 14 Apr 2021 13:57
Thanks for the extra detail. I don’t know why my 80.6 isn’t right - I got a cash lump sum and a ‘cost’ for my shares (exchanged shares and additional purchases all lumped together). So I add the cash lump sum and the cost (deducted from what I otherwise would have received if not purchasing additional shares) and the total works out at 80.6p per nominal held.
I think we’re just using different currencies, but what’s interesting for me is the total value of the exchange excluding the additional shares.
So unless I’m mistaken, the total value of the exchange was 80.6p per nominal, which is above recent trading values but lower obviously than what I bought at. The coupons and the additional shares have made it all just about worthwhile.
Thanks J
Stevo12,
The allocation was based on the number of bonds you hold, not the number you applied for. It comes out at roughly 0.32 additional share per £1 bond.
Just working out how many additional top up shares I was allocated. I applied for 200k and was allocated 25,000 - 12.5%.
Is this consistent with others?
Yes! It’s gone through.
I’ve got the same as Jennifer, 61.6p per £1. They have taken the extra to pay for my additional shares.
If I knew they were doing it this way round instead of needing the money in my account I would have applied for more.
Oh well, it leaves a profit at the end of the day.
Thank you all for your updates on this - it’s more than I got from HL.
Started: EmeraldCarrots, 12 Apr 2021 15:09
Last post: EmeraldCarrots, 12 Apr 2021 15:09
One or 'thother no doubt.
Started: EmeraldCarrots, 12 Apr 2021 13:00
Last post: EmeraldCarrots, 12 Apr 2021 13:00
.
Started: EmeraldCarrots, 12 Apr 2021 12:36
Last post: EmeraldCarrots, 12 Apr 2021 12:36
Now that is unusual! LOL!!
Started: EmeraldCarrots, 12 Apr 2021 12:09
Last post: EmeraldCarrots, 12 Apr 2021 12:09
https://www.bbc.co.uk/news/world-middle-east-56715520
We know they mean it unfortunately.
Volatile oil price to be expected in due course!!
All IMHJO.
Started: EmeraldCarrots, 12 Apr 2021 10:46
Last post: EmeraldCarrots, 12 Apr 2021 10:46
.
Started: hothead963, 9 Apr 2021 20:17
Last post: Jayzee4444, 11 Apr 2021 23:31
yeah, shareholder,
Thanks
Jayzee, were you a pmo shareholder not a bond holder? Shareholders got 1hbr share for each pmo share they owned.
Same here, just got a 1 for 1 conversion on HL. I didn't receive any correspondence or options to do anything also. Am i missing something here??
I’m on HL, and received no correspondence about this aquisition, specifically options around exercising/cash mentioned below. I had roughly 40k shares in PMO and now have the same in harbour. Should I expect something more coming soon? Confused.com
Started: Soder, 6 Apr 2021 14:33
Last post: Soder, 6 Apr 2021 14:33
I have now been through most of the latest (post merger, pro forma) analyst research and their models for harbour. There is a mix of price targets with the lowest at 20p and the highest at 30p.
The one thing that stands out a mile in all of these is the price decks they are using for commodity price assumptions in their models for this current year....which are absolute nonsense.
For example, stifel this morning....price target 26p
2021 Oil price assumption $50bbl
2021 Gas price assumption 35p a therm ($28 boe)
For 2021 harbour already has hedges on 22m barrels of oil ( approx 57% of total 2021 oil production) at ave $58/bbl. They also have hedges on 25m boe of gas (approx 66 % of total 2021 gas production) at 44p a therm ($35.3 boe).
In addition, the current spot price of Brent is $62.82 with a yer to date average price for 2021 of $61.41. The current U.K. gas price from ICE is 48.99p a therm with an average year to date 2021 price of 49.12p a therm.
In summary, the analyst models used to calculate harbour financial performance and cashflows are based on assumptions so far detached from reality it’s embarrassing. When they put **** assumptions into their models what do they get out? Yes, that’s right, ****!!!!
The best price I have seen was from Barclays who provide a commodity price sensitivity matrix. This shows that for every 5$ move in brent the company free cashflow will increase by $170m and for every 5p a therm move in gas cashflow would increase by $50m
Barclays have a 30p target based on 5x Ev/cashflow. I think that is conservative and would argue that with such huge fcf you are looking at 5.5x min. I think the sector will rerate higher at q1 reporting when the market sees the huge free cashflow companies in this sector have made over the last few months. For example BP this morning are restarting buybacks as free cash was so high they have hit their net debt target early. Harbour have stated their cashflow break even is $30-35 a bbl. so anything above that is free cash. It’s a cash machine!!! Expect dividends, sure. But... with 90 percent of the current production from U.K. assets expect M&A. The majors are practically giving producing assets away at the moment as they target a green future. I expect harbour to go back for the BP North Sea assets v v v soon, but also likely some transformational international M&A as the balance sheet is so strong.
Buckle up.
Started: FOMO2020, 3 Apr 2021 20:58
Last post: LONGWAIT, 5 Apr 2021 23:01
I agree with you, Ivan, but most people think there is something wrong with PMO because its share price is so low.
That is one of the reasons most people buy too high.
If the share price were high, they might be prepared to buy.
Timmy, the lower this falls the better for me. I want to be able to build a large position here since I wasn’t able to get as much as I liked on Thursday ??
You sound desperate Ivan this will fall Tuesday no doubt
Harbour state they have a free cash flow break even of just $30 to 35 so and current prices they are hugely profitable. They have reported they expect to achieve 200 to 215kboepd so as a conservative estimate I have calculated a free cash flow of over 1bln. To me at a current market cap of 3.8bln is massively undervalued, especially when compared to a similar company Aker bp who have over double the market cap! It would be crazy for anyone to short harbour at these levels in my opinion. But with the oil and gas industry, companies are highly dependent on the oil and gas price.
Okay thanks for the response Ivanabeetu, you said there expects to be no shorts with harbour energy at this price, why is that ? I'm thinking that merging with another company can only mean Premier Oil was viewed as salvageable/not a basket case
Started: kessla, 1 Apr 2021 20:25
Last post: kinneyscott5, 4 Apr 2021 17:58
Hi Kitty
there is already a new chat for HBR
https://www.lse.co.uk/SharePrice.asp?shareprice=HBR&share=Harbour-Energy
or you can search ticker symbol HBR
Will there be a new LSE chat board created for HBR and people leaving this site to move across there?
I've still got PMO shares stuck at average of 50p in children ISA account I bought ages ago, so holding long term for them after conversion. I'd like to pop in now and again to catch up on chat news , not sure where everyone else will be going forwards.
GLA
H and l should be transferred Tuesday, Diageo already done yesterday.
My pmo shares have been converted to hbr shares on ii just recently.
Has anyone got old PMO shares exchanged to new Harbour Energy shares? If yes, what ratio?
I have an account with HL - it seems they're dragging on.
Thanks
Started: FOMO2020, 3 Apr 2021 20:43
Last post: FOMO2020, 3 Apr 2021 20:43
Was looking at short tracker, seems they closed a 6.19% short position ... not in this share or know much about it but clearly not doing well despite being oil/re-opening type sector; is this because there is some signs of recovery or it is really going badly and need to get out of short before the share price is zero ?
Started: Wasp_, 2 Apr 2021 19:06
Last post: Wasp_, 2 Apr 2021 19:06
Hi, does anyone know how the PMO retail bond were split in the end and if potential additional shares were given?
Started: Falky, 1 Apr 2021 10:47
Last post: Thotl, 2 Apr 2021 00:25
Wheels within wheels. The regulator just wants his take home pay.
The reverse takeover of PMO by Chrysaor private equity firm despite all brouhaha has been very disappointing in London but perhaps more so on NASDAQ Stock Exchange where it traded 15% below PMO market price on 31 March 2021.
I am not clear why PMO share price was in reverse gear on Wednesday 31st March and Thursday ( April's Fool's Day ) when its price on the London Stock Exchange collapsed to 18 pence at one point although it recovered to 20.64 at the close of business.
In an age of free access to public information, it is incumbent on the Board of Directors to disclose all information and explain in a simple language about the poor performance of the share price on the very day of its change in name. Harbour Energy's share price seems to have been odd for two consecutive days and I wonder whether its value was artificially manipulated by the market makers or by other undetected influencers. Who oversees unusual price movement on the London Stock Exchange and takes sanctions against any malpractices?
Mine hasnt been converted yet with HL. Still shown as PMO.
And me
I wish I could. My II account disabled PMO shares (value £0.00) but not converted into HBR... That's a tragic service from II
Started: Pearls, 31 Mar 2021 19:23
Last post: RForbes, 1 Apr 2021 23:14
I did say back in Dec that PMO would be worth c18 pence per share at time of Harbour re-issue but I was told to stop posting . I will invest back in once the dust has settled a little - I am only aiming for a c20% gain, however.
Sometimes right being the operative word but always myopic and like Henry the mild mannered Janitor ultimately lucky with the pandemic as the call came home to roost. Would have been interesting to see how it played out on a level playing field...? Seems to be positive re enforcement amongst the boards to keep this under pressure st current levels, which flys against the current oil fundamentals. OPEC like the Fed, have the equity markets, have Oil’s back. US infrastructure package helps . The pressure from the climate lobby is years in the making , the new entity has a window of opportunity snd in the low 20s upside odds seem good to me. Nee dawn tomorrow . Good luck all
I wish I had followed andy p,s advice as he was, sometimes, right. And this is the point, there are no absolutes in this game, no nailed on certainties.
andyp posting one the ADVFN board this evening. he likes to remind folk of the 3bn shares coming to the market tomorrow.
Steve,
Not been here for a while but followed avidly til I dropped out early COVID. Honest question but why do you have to repeat your view with constant re-enforcement? As Andy.P used to say, don’t get married to your view or try to find reassurance on these boards. Interesting times ahead. Good Luck
Started: NOFEAR, 1 Apr 2021 09:30
Last post: Wilson2699, 1 Apr 2021 23:01
Is there any reason nobody seems to use Trading212, I have been using them to buy PMO and now today they have changed to HBR and i bought some more. Kind of new to this and just wondering as when this thread shows some company's not listing HBR Trading212 seemed to be straight away?
I'm with the Halifax and my PMO shares have relisted as HBR. I tried a dummy buy and that looked like it was going to work.
Have a good Easter everyone.
Always the same with virtually all platforms when such actions occur.You would have thought somebody would have figured out a plan to help maintain constant trading for the lowly retail pi by now!
Also with Halifax. No problem. Bought more this morning.
I trade my isa using Halifax. All looks fine, shares shown as HBR.
Started: Givingthelowdown, 1 Apr 2021 14:10
Last post: Givingthelowdown, 1 Apr 2021 14:10
According to tradingview.com Harbour energy was 900p per share in 2007, but it only existed from today, interestingly today its gapped down from 427p to 21p presumably reflecting the 5% holding of existing pmo holders, so true valuation of entiere comapny is 427p.....anyway what this has done is made the chart practically unreadbale, along with my shares being STILL suspended and price dropping 10% its not been the smoothest of rides and just goes to show that the average PI is always the one to get shafted.
New board open reply directly through that :
https://www.lse.co.uk/ShareChat.asp?shareTicker=HBR&share=Harbour-Energy
Wow. Did not see this coming. What are your thoughts. I am definitely going to hold and hopefully things will get better. Positive vibes fingers crossed
Started: sergio2020, 1 Apr 2021 11:01
Last post: sergio2020, 1 Apr 2021 11:01
I managed to buy at 18.9 with HL this morning.
Last post: Goodmann, 1 Apr 2021 10:39
Yes hop onto new page to chat ..
https://www.lse.co.uk/ShareChat.asp?shareTicker=HBR&share=Harbour-Energy
Last post: barnyards, 1 Apr 2021 10:16
here's a recap just for you ... see I did say :-)
barnyards
Posted in: PMO
Price: 26.69
22 Mar 2021 07:52
RE: One for one shares
whether it x billion this or y billion that, surely given all the uncertainties surrounding what the market will value PMO's existing shareholders 5-5.45% holding of the new enlarged (HE) company the appropriate thing to do (for most) would be to sit it out and wait for it to re-emerge on the 1st April and then decide IF the SP on the day has added value or not.
IMO this is like holding a share going into a make or break exploration well for a junior oiler on the red or black drilling results and the only ones who normally do that are the gamblers and rainbow chasers.
investing in the unknown ?
well that's not really a strategy for an 'investment' is it :-)
barnyards
Posted in: PMO
Price: 25.00
23 Mar 2021 09:07
RE: Manipulation
roll on the 1st April and lets see what Mr Market has to say
20p would be good :-)
BTW it's 21.5p to sell now but I think I'll hang on for just a wee bit longer
TTFN
Started: HappyInvestor100, 1 Apr 2021 10:13
Last post: HappyInvestor100, 1 Apr 2021 10:13
Still in my IG trading account.
I think they will be back 25 soon enough. The switch from PMO to HBR could have been handled much better. A bit of of a dog's dinner especially given that all parties and brokers had so much time to prepare. IG completely messed it up but they're usually very good.
Well done to those lucky enough to top up at 18/19.
IMHO DYOR
Best
Happy