Member Info for AlfaMale

Pearls,

Have you got a link to this? How can you not have posted the link to such a relevant story?!

I heard that Biden was going to take a softer stance with Iran, reducing sanctions, and that Israel and Saudi were "worried"....

Olivia taking a breather?

Stop your bickering!!

Given that PMO didn't really react to the rise in oil price from $46 to $48 this afternoon, if oil stays up overnight, then I expect we will open higher, 24p+.

DOW currently up 400 points, so looking good so far.

Jennifer,
"No, because creditors want their money back and there is no possible way PMO can repay $2.3 billion"

Obviously it would need renegotiation from the current creditors and an extension of terms etc. in which case they wouldn't need to pay the entire $2.3bn in May.

But to say "no possible way" is a bit of a stretch!

Azzurri, I second your sentiment!

If Brent continues to motor upwards, is there any chance that PMO could snub the Chrysaor deal and stay independent given that PMO might then be able to service it's debt from cash flow?

The prospectus might then have to be used as bog roll.

Watch this space!

Had a feeling we would see a spike at the end, UT trade.

Capt'n, I cannee hold her doon much longer...

!!

3300,
I'm not calling it either way. Positive sentiment around a Covid vaccine has clearly dampened demand for gold for the moment, hence my earlier post. Seems like some children on the board have chosen to become upset by such a comment! :)

Zambian, yet another pathetic post from yourself. Showing how 'grown up' you are now...

Zambianminer - grow up.

All those commentators calling gold at $2,500 by the end of the year - how much egg on face?!

Levs,
Welcome aboard. I did a similar thing myself recently after a short stint in gold, which I thought would be more prolonged, but the vaccine news is a bit of a game changer, at least in the near term until efficacy is demonstrated. Would be quite happy to see gold drop back further whilst oil rises for a few months, and then flip it all again if/when gold starts to look cheap again. One can wish, although unlikely to be so simple!

Antigua,
That's exactly it. The future of PMO is secured, but the trading dynamic will be vastly reduced, especially if it becomes a constituent of the FTSE100. In the meantime there is upside to be had if oil continues to rise. Perhaps it is still the same old PMO until the merger takes place!

I find it difficult to put a value to this share now, especially with the takeover looming, my view being that it limits upside, although a rising crude price, buoyed by macro economic sentiment improving with vaccine etc, will inevitably lead to this rising further.

Feels like Tullow is more free to rise back to previous levels than this will ever see again.

Thanks MrTibbles. Fairly conservative prices then.

RMS company produces medical masks? Just when Covid vaccines are being launched.... hmmm!

Mon 30th Nov

At the last OPEC meeting – which took place on 6 June 2020 – participating countries agreed to extend historic production cuts of 9.7 million barrels a day until 31 July.

The cuts of 9.7 million barrels a day – the biggest in OPEC’s history – were previously set to reduce to 7.7 million barrels a day on 1 July 2020. It remains to be seen if these cuts will be extended once again at the next meeting.