Member Info for Beerbull

There was a lovely piece recently by Dominic Lawson in the Times, where some students at Oxford demanded that the bursts of their college sell their bp holdings. The bursar replied saying that investment decisions took time to consider, but he could turn off the oil powered central heating.... you can guess the response from the students..., danger to their lives. Utter hypocrisy. Whilst I’m on this I see bill gates is buying a 500m usd hydrogen yacht. Good on him, but Microsoft has just stopped supporting windows 7, so my company like many others will have ditch perfectly good pc’s for new. The hypocrisy is sickening...

Texan, given the resounding thumbs up by the creditors today, I can’t see how a minority creditor can derail the inevitable sanction next month. Hopefully as corovirus burns out, crude strengthens off 18 month lows, pmo is beautifully placed to reap the benefits. Loads of positives going forward... Tolmount, Zama etc & soon to break 100k bopd....

Asteris, you would think they have a plan, which could be linked to the rights issue, but I find it difficult to fathom, when you consider the lenders I assume will need the shares returned prior to the RI. All complicated & messy.

Well that was pretty conclusive.

Your right bladesman, there is a storm heading towards ARCM, I think they are behind these v dubious articles, which betray their fear of having to return those loaned shares. Other than ARCM, All the other shorts have closed or reduced.... I think that sends out a clear message. I smell blood.

The telegraph are calling this storm blowing through as ‘the storm of the century’.... I live in the S East & yes it has been a very blustery day, but from where I’m sitting what an unbelievable exaggeration. If that’s the calibre of todays telegraph no wonder Gill can get away with biased & poorly researched articles . Fake news on steroid.

IMO ARCM, know they have lost the refinancing battle, as seen by the recent Gill article their objective is to undermine PMO in an attempt to drop the sp & I guess exit the short as painlessly as possible...

Most PMO investors on this board are pretty well informed, so can see through the ARCM flakey arguments. Given that well in excess of 75% bond holders want to refinance, I’m not sure who ARMC are targeting with this Telegraph Article ?

ARCM , so disingenuous, if they are unhappy with the refinancing, their is a simple, simple solution.... sell the debt. Having already making a fantastic return on the debt ain’t enough for these leeches. Disgusting, I hope karma pays them a visit.

The biggest storm in a decade landing tonight & tomorrow, that’s according to the media. Millennium Bug. Mad cows disease etc... I wonder if this storm & corona are no more than previous end of life type Media exaggeration ?

All sounds very messy Hunter, when you also bear in mind the lenders are possibly loaning out shares owned by amongst others pi’s. Interesting times, fingers crossed.

A simple question. If the shares aren’t returned by ARCM how can the rights be taken up by the lenders ? The way I see it, is they will have to be bought back by ARCM & returned to the lenders. If that’s correct there is potentially a massive spike on the cards.

I agree slip, HUR are walking a tightrope in keeping the OGA onboard & keeping to the terms of their licence & as far as we are concerned adding shareholder value. I for one believe in Dr T, but their is no doubt he has his work cut out & I hope he true to his word that Lancaster is now running at 20k with no underlying issues & more volume to come. Thankfully, a company currently turning over 1.1m usd a day is highly valuable, let’s hope for a solid cmd.

TD has already stated that they have irrevocable votes in excess of what’s required, so imo no need in getting stressed on the refinancing. More importantly is what will be the catalyst to get the Asians to reduce their short.? If as they say it’s a hedge on the PMO debt they hold, then surely unless they reduce their debt levels this rationale won’t change nor their shorting strategy. I think most see this as a smokescreen & I’m hoping given the highly positive fcf expected in the next few years the sp will react & they will have no other choice than to reduce their position . A Tesla or VW reaction can not be ruled out. Here’s hopin & we don’t die of media corona overload before then.

I might be underplaying the seriousness of this virus, but having seen the sleeping conditions of Chinese workers first hand, triple level bunk beds sleeping 6 people in a single room, I’m not surprised that bugs spread so effectively over there. If you believe the rubbish the media puts out you would think the UK is in a similar Dickensian situation, as is often the case the truth is the first fatality.

Sprucegoose, assuming your not far off the mark re the aquifer comments, if it’s not a too simplistic question, how will it effect the viability of the well? Thanks

Not sure if I’ve made this point before, but within 3 years PMO will have saved circa 200m usd in tax alone from the Bp purchase in addition to 1bn usd fcf generated.

The Woodford debacle imo could be the one big reason for the sell off, assets needed liquidating to settle investors tied up in his funds & CA was a big holding. This sell has then snowballed by shorters taking advantage of the situation & jumping on the bandwagon. All the reports from HUR & Dr T are currently unchanged, so imo investors here are seeing the unforeseen consequences of mr Woodford’s actions.

Exactly albi, no one whose long like to see the sp where it is, but as far as I’m aware Lancaster is behaving as predicted. The sp on the other hand is totally unpredictable.

The great orange, considers brain trauma caused by Iranian rockets as no more than a headache for those effected. Don’t expect a response from big mouth.