Member Info for Beerbull

Definition of ARCM’s PMO position, “ between a rock & a hard place”.

We are singing from the same hymn sheet bladesman.

Apples v oranges but Tesla, despite Musk categorically denying the need for fund raising just announced a rights issue to raise 2.5bn usd & the share price jumped 4.5%. Hope the same effect here.

I’m guessing that ARCM are hoping the RI/placing will be a window to help close their short, but having said when it was initially announced sp jumped to 1.20. Interesting times....

Agreed, it’s looking good, I’ll be taking up my rights. Just need crude to keep moving up & this flu thing to burn out.

Bladesman, the only blot on the horizon, as far as I can see is the upcoming placing & rights issue. I assume placed shares will be offered to sticky long term investors. I will take whatever I can get, but a bit of short term sp turbulence won’t surprise me.

Forget corona & PMO we are all doomed, cyclonic weather bomb hitting this weekend.... according to the sun.... snowflake media. Aargh

Cheers Grippa, I agree Malcy should stick to pie eating competitions.

Grippa, why did you choose to put your hard earnt into PMO . ? I’m curious because your at the coal face & get a totally different perspective to most who post here. Cheers

Emerald, maybe not unlike Mad cows disease, millennium bug & the storm of the century last weekend (admittedly I had to get the leaf blower out). Our great grand parents who lived through the first & second world wars are surely looking down on us with puzzled gazes.

Anyone fancy a punt at debt levels.
For what it’s worth here is my guesstimate
March 2020 y/e 1.9bn usd
End 2020 1.9bn - 300m(circa current paydown) - 300m (Zama) - 300m (bp assets).
Debt end 2020 = circa 1bn usd. Am I missing something that looks incredible given that PMO will be running by then at 110,000 bopd / 2.3bn usd yearly t/o.
Too good to be true ?

Darknight as far as I can surmise, one well is dry & the other Lancaster well may have a water cut higher than projected. Assuming the worst & aquifer breakthrough is the cause, then I’m sure DrT, will have contingencies in place, ie maybe a new drill a safe distance away from the aquifer. In my mind as long as the resource is world class then this issue will be mitigated, bearing in mind this is an eps.

Neil, clearly your v positive on battery power, imo it’s old tech wrapped up in fresh paper. Apologies if I’m assuming again, but unless their is a paradigm shift in current tech then in time battery power will be seen as no more than a stop gap measure. I suggest you keep investing here & avoid the fashionable crowd. I don’t see Buffett investing in battery power, yet he likes dirty old oil. Maybe a lesson there, but I’m sure you know better than an old yanky codger.

Neil, from your argument I assume your a city dweller & I seem to recall not that long ago that diesel was the answer. I have no doubt battery power is currently over hyped & in time it will be seen in a different light.

That’s true Neil, but the reality is that the pollution is displaced. I’m alright Jack.....

I think the results will blow any doubters out of the water. Production for the year will be in excess of 100k boepd, debt decreasing as projected & production forecast to grow into 2024. Expect a big sp reaction. I’m thinking 1.20 plus plus.

Cheers prodopt, I just find all this unnecessary wastefulness so hypocritical. Bit like Harry preaching about green house emissions, yet chooses to fly on private jets. IMO best for green messiahs to keep their mouths shut, unless genuine.

I meant to add A total no brainer for bond holders...

How can an additional 23,000 bopd, be bad for bond holders when it’s being funded by equity? You couldn’t make it up, unless of course your ARMC.

Grippa, if they were honest brokers, you would expect them to walk the talk, but we know their strategy was the crash the refinancing & the sp. The short is probably costing them high single digits to finance & as the sp strengthens that will also get expensive. No doubt they are in a pickle as their strategy has gone bad, imo they will gradually reduce the short on the dips, which in itself will put a nice support on the current price.