The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Well Kever the market is now open and the sp is static. What sort of wind did you get? I suggest it came from where the sun don’t shine.
Kever
You say: “I hear it is 14p”
If you have heard this are you the only one? If this has leaked there must be others in the know and if that was the case the share price would have started to move up. I suggest you are fantasising.
Nord-West Oelleitung GmbH are reporting a load of 86826mt, but this is incorrect because the barrel equivalent is more than the AM’s capacity. It is not the first time Nord-West Oelleitung GmbH have reported an incorrect load and sometimes they update with a correction. I will post again if they update.
The interval between lifts was 69 days so using the last reported daily production rates would suggest a load of about 540k-545k barrels.
Correction:
draught 11.7m
Altera Wave is now en-route to Wilhelmshaven and reporting a draught of 11.3m so it look like offload completed.
Up 58.5p, nice recovery post XD.
MrWilks
The last non satellite AIS message from Altera Wave was about 10 hours ago. This came from a position roughly 7 miles east of the AM. There is a more recent satellite AIS message from a tanker position less than a mile east of the AM.
Liftings are timed to suit production. AM’s storage capacity is just over 600 barrels so liftings are timed for approx. 85% capacity which gives some leeway if weather conditions delay the lift.
I see Altera Wave is now standing off after what looked like an attempt to connect with AM. Weather conditions are not good but set to improve over Monday and Tuesday so looks good for a hook up tomorrow and complete the lift by late Tuesday. If my prediction is correct that will make the interval between lifts of 66 days so we should have a 520k load.
According to MGW:
Word is that potential bids are few and far between
Given that the Company have said there are multiple bids we can assume a minimum of two, but if Malcy is right I doubt there are more than three. I would be extremely surprised if anything over 8.5p is on offer.
Witness: Richard Paul Chaffe No. of Statement: Third Exhibits: RC4 Date: 15 June 2021
Page 37
“Therefore, as the question from Crystal Amber is to immediately make a purchase in the market, if Hurricane was to execute a “small” bond purchase the most likely consequences of that decision would be to: • antagonise the Committee and risk souring critical discussions with the Committee, reduce the Committee’s confidence in the Board’s competence, judgement and credibility, and lead them to accelerate requests for discussions on possible terms • consolidation of the bond into the hands of the Committee”
Page 39
“RECOMMENDATION The current view of Management is: • There are no reasonable prospects of success for a larger buy back programme • A smaller buy back for say $5-7m could in theory be executed “under the radar”, however it would have no long term efficacy and would quickly become apparent to the Committee, risking Committee confidence in the Board to the detriment of all shareholders • The immediate benefit of retiring a small inconsequential portion of the Bond at a discount to par is outweighed by the need for the Company to position itself to achieve a negotiated outcome with the Committee that achieves a value optimisation solution for all stakeholders The above position has been discussed with both Evercore and Stifel. Both are in agreement that now is not the right time to be engaging in a buyback and support management’s recommendation below. As such management recommends that no bond purchase is undertaken at this time.”
So according to Malcy:
"Word is that potential bids are few and far between"
Is somebody leaking? I wonder who.
HUR informed the market by RNS that the Court hearing was to be 31st January. Nothing has been said to indicate a change of date. The Courts decision would normally be given at the end of the hearing or the following day so it is reasonable to assume a decision has been made and the Company will have been notified of the decision.
We know HUR’s management are not shareholder friendly and thus may not be inclined to report the Courts agreement, but what if the Court rejected the application? Would that not warrant notification?
No
Dream on! lol
I’m not with HL or HSBC but if I was in receipt of an email advising of a dividend I would be inclined to ask them to advise of the source of their information. Do they have insider information or are they speculating? I suggest the latter.
If you go back and look at presentations for the EPS you will see that flaring was always acknowledged as a temporary solution. The favoured solution was a tie in to the WOSP but gas reinjection was also mentioned as an alternative option. It should also be noted that the planned development of Lincoln/Warwick was dependent on gas disposal other than flaring and Spirit paid upfront for a drilling campaign knowing this to be the case. Buckingham & Co wouldn’t propose to spend £250m if this did not involve a gas solution and neither would they spend that money if they didn’t expect to get a hell of a lot more oil than the current management have said. But that should be obvious to all but the simpleminded.
Retiredbanker
They had 21 days to call the EGM and they have left it to the tomorrow, the last day. They have another 28 days in which to hold the EGM so expect it to be the 9th of February. Maris and Chaffe will then be toast.
At the time I was lead to believe Stobie was pushed. In hindsight I am now fairly sure he had a vision of the future and jumped. He came in for a lot of criticism for having no skin in the game, which might tell you something.
Gloucester R
Prepare to be disappointed. I cannot see anyone coming in with a 12p bid. It might suit you but that does not mean it will happen and why would anyone bid 56% over the original bid of 7.7p.
Frankly I would be surprised if there are any bids exceeding 9p.
In any event it will be CA who decide. The FSP will fail and Maris and Chaffe will be history.