Member Info for Beerbull

Putin has just gifted his mate Trump the next election.

A strong set of results, no surprises. Solid progress.

I agree colebrooke I see opportunity rather than threat. IMO the central banks will throw massive liquidity at the markets & I am expecting tax cuts in the forthcoming budget. In addition opec will be cutting 1m bopd off production & the ME is looking more unstable. I think we will be insulated from the dire predictions.

Have had an unbelievable window to close, if they chose to hold on, I hope they get their comeuppance, karma will visit.

Clearly not such a knob after all then DBNO. Oh no it’s your sensible other half.

Many years ago I intended to move to Florida, the US banks were incredible in their willingness to loan money for my business , the difference to the banks in the UK was light & day. The point Im trying to make is IMO the ease of credit has created the shale monster & fundamentals have gone out of the window. There is no way UK banks would lend under current circumstances to UK shalers.

Good fun, thanks for sharing, definitely worth watching especially on an el crapo day like today.

Looking beyond PMO the ftse 100 is no higher than 20 years ago. Unbelievable.

Given the hysteria you would think the fatality rate was nearer 100%...clearly it is a nasty piece of work particularly if you’ve got an underlying illness, but as always the truth loses out to a good story.

All said & done it’s the flu. Compared to all the other illnesses & diseases in the world, it’s just another one to add to the list, but don’t the media love it. I’d sooner have a dose of it over many other illness any day of the week.

Any guestimates on how much crude was offloaded in circa 24 hours ?

Hitman & I thought 3 years of Brexit driven news was enough to drive me mad, now we have this flu thing.... aargh

Like 2000, when the media advised no one to fly on Dec 31st because of the millennium bug or how mad cows disease was another ticking time bomb... or how about saddams weapons of mass destruction. Even if this flu virus proves to be everything the media is saying it to be in my opinion crediblity in the media & so called experts is still shot.

Offloading just another clear sign that nothing fundamental has changed. I’m sure dspp etc will still find something negative in that fact, but no surprise there.

The hedges are shooting green buds, a positive sign that spring is about to kick off & bad news for viruses which die in warmer weather. Panic over....

As horrible as the markets are currently give it a few months & this will be all water under the bridge. IMO best to switch off & enjoy the ride up once this flu thing burns out.

Exactly captainswag, the facts are that Lancaster iperformance is exceeding the base case scenario. Not my opinion, fact.

Nice on Genghis, when the market realises that nothing has really changed, I wonder where the sp will be ?. No doubt walking up hill is harder than running down...

Well said join the dots, like you I find it odd, that so much credence is given to the opinions of dspp, pijoe etc, whom as far as aware are pontificating without access to a fraction of the data that HUR are basing their business as usual updates on.

In recent weeks we have covered the attempts by Premier Oil to change the terms of its debts, which would involve holders of its retail bonds, included in our Income Portfolio, receiving a higher rate of interest for a longer term.

There has been progress since we reported the proposed restructuring four weeks ago but there are still more hurdles the company must surmount if the bond terms are to be changed.

A big step was taken when creditors approved the changes by the required majorities on Feb 12. This was despite the opposition of a hedge fund, Asia Research & Capital Management (ARCM), which owns a significant amount of Premier’s debt.

However, before the “scheme of arrangement” by which the restructuring will be carried out can take effect, a court has to give its agreement. At the hearing, scheduled for March 17, ARCM plans to argue its case against Premier’s plans vigorously.


The hedge fund believes schemes of arrangement should not be used to make changes to contracts such as bond terms unless a company’s survival is at risk. It also believes the transactions Premier intends to make in conjunction with the debt restructuring will make it a much riskier business.

Will its attempt to derail the deal succeed? A spokesman for Premier said it was rare for courts to reject schemes of arrangement but not unknown.

Whenever a court case is involved, we must acknowledge some uncertainty about the outcome. Hence holders of the retail bonds at this stage cannot assume that the interest rate and maturity date will change as intended. We will report again after the court hearing.