The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
POO looking strong. Another late afternoon surge would be nice for the weekend. Been reading up more on Zama. It really is a great find at very low breakeven (circa USD 19) I’ve always thought PMO should sell their share when it’s fully appraised but now I think they should keep it. I also think it’s not fully priced in at the current share price so should see a spike when the appraisal process is finished and at FID.
Sitting = the new andy.p. What a complete and utter useless post backed up with no facts and only posted to scare people.
She really does know how to slam andy.p. I was never his biggest fan but his behaviour has gone from being irritating to downright odd. I actually now think he wasn’t a paid deramper by the shorters but instead has some serious mental health issues. If ever the term “get a life” applies....
Kraken: totally agree. OPEC have gone through all the pain to clear the oil glut and get POO up to a level that makes economic sense for them. So just when they achieve their aim they will allow it to go down to the 60’s and undo all that hard work ? I think they will let it trade between USD 75 and USD 85 which is the perfect range for them to keep world economic growth buoyant and make financial sense for them. And at these levels PMO will be just fine.
Drop tomorrow or rise tomorrow - I just don’t care that much. I do care where we will be by year end and that train is keeping on running. PMO production levels look like they will exceed targets based on Catcher progress. On the oil front demand looks robust, Venezuela is dysfunctional, Iran is about to enter a world of OFAC sanction pain, Angola and others depletion levels are accelerating. I’m long on various mid cap oil companies in 2018 and very happy with my position. Let’s see who’s celebrating most on New Years Eve this year.
Catcher was sitting half built in a Singapore dockyard and POO was half of todays price. Now that was squeaky bum time. Today doesn’t even get into my top 100 of stressful PMO investing days. In fact make that top 1000. People need to not **** their pants and sell at the slightest reverse.
May not be blue at close but think it will close. Fundamentals still not exactly bad with POO at USD 79 and Catcher ramped up to plateau production. The oil sector was always going to have a wobble are such large gains recently.
Let’s face it no one (including the so called experts) ever calls future POO correctly. The exception to this is Chang last year !! He was laughed at a lot at the time but his predictions are looking pretty spot on to me at the moment.
A few people on various boards have posted this already but the below is a very well put together piece on where oil could go over the next 5 years. Lots of data justifying their arguments and written in a way that is easily understandable to people not in the oil industry. Well worth investing the 10 minutes it will take you to read. https://www.goldmoney.com/research/goldmoney-insights/crude-oil-the-next-5-years
The oil market currently reminds me a lot of the mining business a few years ago. They had too much debt and their commodities we’re selling for too low a price to service the debt (sound familiar ?) I did very well with Glencore and Anglo but what I noticed was that PI’s sold out very early. They went through the pain of holding when things were at their darkest (I bought GLEN at 88p and there was tons of chat on boards like this that they were going bust and to buy was madness) but then people sold when they got a 25%, 50% or 100% return. The thing is the re-rating process took 2 years. In that time yes there were retraces and tree shakes but the trend was always upwards. The IIs didn’t buy at 88p (too risky for them) but they did fill their boots over the 2 years afterwards when it was clear the industry had recovered. I finally sold GLEN when it hit GBP 4.10 and in two years from April this year i believe i’ll be selling PMO for a similar multiple.
Seer: good summary and agree with your thinking / logic and am doing the same. I’m also thinking all of 2019 could be a beneficial time to hold but will re-evaluate that at year end. I’ve mentioned sentiment a few times and it’s an often overlooked factor when investing in a sector. Sentiment has been anti mid cap ollies for 3 years (for obvious reasons) and that sentiment is now well and truely swinging back.
Nice finish. Nice week. The immortal words of andy.p spring to mind: night all. sleep well. I know I will.
Wow massive buy. Some II is confident. Just got off a 12 hour flight and checked the news. What a pleasant way to be welcomed back into the UK. Thank you PMO.
Wouldn’t surprise me with this share. This exact tree shake and climb back up has happened a few times with PMO.
How many got triggered when it went down to 101p ? That’s why I never use them as the MMs / IIs always find a way to screw over the poor PI.
I am over the moon that Catcher is at 60k. To me that was the main message I was waiting for. With annual production now at 90k + a day and POO at the current levels what is not to like ? Debt is now only going one way and the markets should love this.
Sorry meant mid April in that Malcy interview.
We don’t have bad news on Catcher. We have a slight delay on a multi year project that has hit every milestone on time to date and is way under budget (and when has that every happened before) Also when I say slight delay it is actually on target based it’s original project timeframe. It’s only because TD stupidly said mid May for 60k in that Malcy interview....
Dodger: what a great comment and made me smile. Imagine if someone said today you can have POO at $75 for the next two years. You would bite their hand off as that would totally transform PMOs debt / finances. Think we all need to step back and put daily changes into perspective sometimes. PS Fingers crossed no surprises in the update tomorrow....
Well someone knows something as you don’t see continual rises like this just on the back of overexcited PI’s. Maybe some legs in the possible Shell involvement in SL ? Fun to watch and well done to all long suffering LTH. Looks like it’s coming good.