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Looks like someone is buying PMO, with the SP rising...

Maybe there is a news leak about the TU tomorrow??

OPEC news leak?

No leak, but it has been known for some weeks that they intend to raise output given higher perceived demand.

Maybe the latest batch of Corona news will temper their plans.

https://www.bbc.co.uk/news/technology-53403793

Bye bye!

Shame it took so long for the UK to grow some balls.

Indeed, Ferret.

As for tomorrow - could go either way on the trading update. Likely to be a mixed bag IMO.

Ramping Kenni is back!

Careful SK, you'll have the smut police on your case with talk like that. Some here are a tad 'sensitive'.

Markets seem to be shrugging off recent news of Corona spikes!

DOW racing ahead in US. Oil up.

But for how much longer?!

15 July 2020 - Trading & Operations Update

Anyone got any thoughts on this?

Surely can't be anything in this that the market isn't already aware of re: production and prices?

Kilgeever,
You seem to forget the other major factor that smashed the SP of oilers around the same time and that was the price war between Saudi Arabia & Russia. Double whammy.

Well done GGG on getting your target today.

Mind the gap!

"who thinks Eastenders is real too"

It's not?

Are we certain Zama will be sold?

Situation with Pemex doesn't inspire confidence, so might put off potential buyers.

Wasn't someone suggesting that the fundraising was likely to take place around 40p/share?
Not quite sure where they got that idea from!

Probably a wise move.

When the markets drop, PMO has a tendency to amplify the drop, although it has shown some remarkable stability at times recently. But plenty of examples historically when this share gets trounced - probably due to large short positions being played around the same time.

Well, I got back in here a few days back, but ended up selling out again, I thought it was gonna rise back up towards 54p, with Olivia momentum, but then it got slammed (shorters?) when that PMO bid article came out (maybe a bit setup was being played by the big boys) - you were very lucky that day, and that's the gamble you take when shorting (without guaranteed stops).

I'm not liking the current situation at all, and am all in cash. Can't be bothered shorting it at the moment, as there could well be some bidding action with Apache - who knows (note no official denials either!).

Refinancing is going to have to offer a few cherries to the others seeing as ARCM was paid off recently, so not liking that much, and in this climate any dilution (raising $200m?) probably won't be taken nicely by Mr Market, despite probably putting PMO in a better position with producing assets and more tax free production. Might be safer to stay out until the refinancing is done, then go from there, and see how the global situation looks then. Capital preservation, as you say, is paramount (at least trying to preserve it!).

It's hard to call it given everything that's going on. Seeing some articles predicting a "great summer" on the stock markets, and others saying it looks just like the 1929 depression is about to kick off... In other words nobody has a fooking clue!!

Ferret, you said you were long the other day, when chatting to SK. Did you sell at a loss and then go short?

Not looking nice out there today...

Where's that little ramper KenniGT with his 60p claims??

Crude +5.654M
Cushing +2.206M
Gasoline -4.839M
Distillate +3.316M

Have the safety issues of carrying around a tank of highly explosive gas now been completely solved by using kevlar linings?

Would you feel safe driving around with that in your boot?

Surely it's not only the tank that needs protecting, but everywhere else that the gas can flow? Shirley!

Electrolysis is very energy intensive, so good luck scaling up renewables to do the job well enough to produce enough hydrogen to power transport across the planet any time in the near future.

In the meantime, 95% of hydrogen is produced as a by-product of the oil industry. That's a lot of oil that still needs to be produced and refined. What are they gonna do with all that oil? Just store it?!!