Member Info for Bladesman

Solan can be left under the sea for now. The world doesn't need any more oil and neither does pmo with catcher operating at full pelt and fully paid for. The only requirement t right now is to stabilize the debt to manageable levels using profits from exiting assets until the 2021 re fin. is done and on on favourable terms. Expensive exploration projects with revenues not until far into the future should be ruled out. Hence the Zama sale which fits this debt reduction strategy perfectly well. No more share placings until all this is sorted.

What a storm is brewing. I wouldn't have thought you would want to be out of pmo when all this gets unwound which it surely will be . Can't wait for 8 am open tomoz.

I'm doing same this am. We need solid shareholder action to get this resolved.

Thanks for this. I'll send off complaint today and urge everyone else to do the same. Adds more weight. They need to know the strength of feeling about this. Rules are there for shareholders protection which must be safeguarded

I belive next week will be very very interesting and positive for all legitimate pmo shareholders..

Many thanks for this. I'll be adding my name to the list of long term private investors complain to fca about this serious non comliance with the regulations. This cannot be ignored or brushed under the carpet. All pmo shareholoders need to act to protect our interests and uphold the rule of law

I think cads is correct!

Agreed blue bird and when pmo refinances the terms will be so so much better and with more reputable and well established lenders not these charlatans.

This is a huge issue and can't pass without some answers. I cannot understand how this position has not been reported as required. Investors are entitled to this information to ensure full disclosure which is why the regulations are in place as protection. I really do hope this matter can be cleared up soon
Maybe more from the ST reporter, I hope so. Its great that we have a free press in this country. We'll done ST.

Thanks for posting. I'm slightly troubled by this development. Sounds like theres some falling out for reasons that are not clear. Some assurance from pmo would be helpful rather than " no comment"

Expect a flurry of rns's as gs and ms call in their stock on loan. Ie shorts closing

Significant progress if we can get above this today and hold it by market close.

Sealion ought not to be dependent on zama as the sale proceeds are for debt reduction not exploration. Part of risk reduction strategy to get SP to where it should be. Ie cash now, not tomorrow.

Expect zama sale news in Jan. Bids close on 6 Dec then they need to be evaluated and a sale negotiated. No firm news therefore until new year. We just need to let pmo work through the details.

DNBO? HE'S OUT, BEING CAREFULL!

Ps, I forgot to add, the restriction on paying out a dividend as part of the current refinance deal is going to be revisited next time we refinance and all being well will be removed. That being the case, long term shareholders will be rewarded handsomely as the sp will be significantly re rated not to mention the divi.

TR, you are correct. You can't sell approx £400m assets just on the opening of an envelope. There's lots of complicated commercials to get through. So this takes time. I believe PMO will be well positioned to get a cracking deal that will be transformational for the balance sheet and leave us well placed to refinance on much more favourable terms than last time when our leverage was very poor due to being in distress. Catcher in full production ( which has paid for itself already) , alaska spud announced, and zama sale are all contributing a truly cash generative and highly profitable company. A snip at sub 90 p !

There will be detailed negotiations with preferred bidders that will take the sale process into the new year. Recent improvement in poo today hopefully continuing after opec meeting will no doubt give pmo some helpful bargaining power over the commercials. All looking good and there's alaska too. 1.00 pound on the cards v soon.

Looking at those companies who are shorting more then the reportable amount is pointless as this significantly under represents the total amount out on loan. Currently this is in the order of 20% of total shares. This must be PMO's biggest strategic challenge and risk to getting shareholder value to where it ought to be given the fundamentals. Until this shorting position is resolved, I dont expect any re rate or significant change in the SP .

Laid back. Pmo said not to expect zama news until after Christmas due to the evaluation process of the bids which closes on 6 Dec.