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On top of TLW revealing the short had the short term impact of knocking back the sp. IMO this reveal is a good result for PMO, if it was needed there is additional pressure to focus on debt reduction & not acquisitions. I know it’s famous last words, but I think we are looking good for the foreseeable.

As have the bankers & bondholders Antigua, it’s about time the owners of the business, me & you, started to get a few crumbs off the table. I’m not talking a 3 course dinner, but forward indication of when a small divi is likely would satisfy my appetite.

There for the grace of god ferret, one of my acquaintances was a geologist with TLW, he warned me off it a couple of months ago. Having said that I’ve heard great things about HUR....

Excellent post Colonel, I hope you forward something along those words to the FCA. I know they have a reputation for being toothless, but let’s hope they surprise.

I know it doesn’t look like it this morning, but the big short will does us a big favour. They are forcing TD to deal with the debt, something many on here have been shouting for.

If TD continues to cut debt & gets a good Zama deal the bond holders lose their leverage. Simples, cmon TD don’t let yourself be bullied.

Well at least this drop has given amrc a window to close a bit of their short....

I imagine the city will be crawling over PMO’s financials & placing bets, basically if TD doesn’t raise fresh equity (which I strongly believe) then AMRC are basically fooked. You don’t have to look far to see what can happen, ie the Woodford funds show what can happen when your caught with your pants down.

Seen by the immediate sp the big short reveal has unsettled holders & MMs have reacted negatively. IMO once the news sinks in and in light that all the other shorts are reducing PMO will be hitting year highs soon. Sorry for all those TLW holders, probably some collateral damage here as well this morning.

Lezzils your absolutely right on 20,000 bopd at usd60, HUR will have a turnover around 430 m usd for starters next year. Yeah totally deid. Clearly you must be worth billions to see that figure as deid ( I assume you meant dead).

This ARCM business has got a Nick Leeson feel about it. He got it massively wrong by going long on the Japan Topix, (all undeclared) . Let’s hope history repeats itself.

Making a good return on the debt ain’t enough for ARCM, there intention is clearly to force PMO into a deeply discounted rights issue, I would assume circa 30 % below current sp & their shorts will make them an additional huge return. Talk about cake & eating it, IMO they have taken a massive gamble shorting PMO & now it’s out in the open let’s hope they have a very expensive comeuppance .

How Greta gets about is almost irrelevant, it’s her message that’s got traction. The thing that recently stuck in my mind was at my kids speech day, the headmasters speech amongst others was about Greta etc etc. No doubt our kids will be the agents of change as they are quietly indoctrinated at school. Long term oil is history.

Oiluser, as we know we are seeing strong debt reduction purely from the strength of the business even with weak crude prices. As always the big imponderable is SL & how that’s going to be financed.....maybe that’s the Achilles heel that ARCM expected to capitalise upon.

Exactly Thotl, the sp is a key metric & has been totally undermined by ARCM. Company strategy will have been shaped by the poor sp performance & you raise an important point re Zama, I am sure that other opportunities will have been lost because of ARCM undisclosed actions. IMO short should be immediately closed & fca should sue for blatant disregard of the rules. Given the size of the short & ARCM loan to PMO, this is wrong on so many levels.

That’s my thinking plebeens or is too obvious ? I know these financiers are very clever, but hopefully on this occasion they’ve got too greedy & overcooked it.

EV, you have every right to have an opinion, cmon fella don’t think your qualified to give advice. Big difference. Anyway doesn’t sound like your having much of a holiday, if your still posting here. Sad.

As macro & micro continue to build positive momentum, common sense tells me the shorters are going to get their balls squeesed, assuming they are not party to insider info.

Good points TR, I know TD gets some stick, but I believe being ex Lehman’s he should be aware of these shenanigans & have a cunning plan. Have a good weekend hopefully the best is yet to come...

Now over usd64 laidback, wonder what the traders will do now. I’m hoping it will trade in a higher band, no doubt DBNO will have all the answers ( just do the opposite).