Member Info for DiveCentre

Increasing prospect of a no deal brexit.

"The price of Brent crude oil has reached $50 a barrel for the first time since March as strong demand out of Asia and optimism surrounding Covid-19 vaccine progress lifted the outlook for consumption."

https://www.energyvoice.com/oilandgas/285025/brent-oil-price-reaches-50-covid-downturn/

Very condescending to refer to others on what is an anonymous forum as "my friend".
Beware!

MCB55
I don't think you need to worry about debunking 50p takeover claims. I agree with you that interested parties will stand back . Since RT's departure with stories of blood on the carpet there is complete uncertainty over the reserves and the capacity to maintain flow rates, so if a party were to come in with an offer of say 12p and the board recommended acceptance what would that say about the boards expectation of the companies future prospects. If you look at it from the point of view of a potential bidder an acceptance recommendation of anything less than 32p is going to look a bit dubious as it is effectively saying to the fund raising shareholders we, the board are not confident that we can produce a better return on your investment and what does say to the bidder?
Despite prior warnings of a material downgrade the Technical update of 11.09.20 was shocking and given the sp movement not what the market was expecting. The next announcement of how they intend to proceed will be critical . In the last substantive update (08.10.20) they said "As disclosed in the interim results announcement, the Company intends to engage with all key stakeholders regarding its forward work programme, capital allocation and financing arrangements in light of the revised reserves estimates for the Lancaster field and challenging macroeconomic backdrop. The Company is making good progress on a proposed work programme and will provide further updates when appropriate." but with no indication as to when. In the meantime all we can do is watch for production clues and w/c. It is really a case of fingers crossed.

Hasiba
You are entitled to express your opinion and if it is truly your own opinion then you have my respect. If however is is based on the site that you have linked to my comment stands.

Visit a local riding stables and you can get this stuff for free.

MCB55
Clearly there will have been churn in a substantial proportion of the share capital held by PI's and it is quite likely that many new holders will be content to take a sub 10p offer.
What we don't know is the proportion still held by institutions who bought in at 32p, but if they are still in with at least 15% I can't see that they , along with RB would accept anything less that 10p.

SP up 100% in the last week and not a murmur from bartlebobton.

If this rise is on the back of leakage then what news will tomorrows RNS reveal. There are only two options, is it the forward plan or a takeover offer?

So if a company does not issue a 'no reason for rise' RNS does that imply that they know something which explains the rise, and if that was the case then surely such knowledge would have to be market sensitive in which case would they not be obliged to issue an RNS.

Bartlebobton
In case you you haven't noticed the sp has risen 53% over the last three weeks from it low of 2.3p on 28.10

There is a weather window starting tomorrow late afternoon and continuing through Friday to complete the offload. Arrival at Rotterdam is now showing as 23rd.

It is our boat , declared Lancaster

High Slip
I'm sure you are watching NO as well. She should be at Aberdeen tomorrow morning and I don't expect her to hang around as she is scheduled to arrive Rotterdam on the 22nd.

Hi Pisces 21
Macduff anchorage is used regularly by shuttle tankers as any seasoned shipwatcher will know.

The oil price is surging because Pfizer has announced positive preliminary results for their Covid vaccine.

Slift
Have a look at TO's Fleet Status report.
I don't think there will be a problem with rig availability.

I rather imagine that the £870,000 fine is peanuts compared to the profits made on the short positions taken.
Is there a case for PMO shareholders to sue?

Hi Genghis

Your concerns regarding the oil price are well known but in my view the current situation is due to one of those black swan events namely covid 19.

If there is a viable vaccine early 2021 it will create an expectation of a return to normally and thus an increase in demand. The market can be expected to react as soon as there is any announcement and price in the anticipated rise.

I will not make any predictions but Goldman Sachs have suggesting $65 in Q3 2021, before settling at $58 by the end of next year.

What are your views?

Petronordic is now at Cromarty anchorage waiting a call.
Navion Oceania has just departed Glen Lyon and Petroatlantic is attending Fionaven.
Draw your own conclusions.