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Deckchairs are being re arranged at board level on the Titanic....

Tumbleweed.......Zzzzzz.
Nothing so far but looking forward to the sp hitting 50p!

Done that myself as a reminder not to average down on crap!
IMM something of a 1000:1 shot to 60 X at the moment but I could see it back at 15p on good news.

Patented well head technology which minimizes gas leaks so it has some ESG applications to green-wash oil and gas exploration and production. Somebody will make a bid for POS to buy the well head patents? At the end of the day it is up to Ben B as to whether they sell out.

https://www.zerohedge.com/commodities/aramco-very-optimistic-sees-demand-picking-china-aviation-recovery

Just surprised that HBR is not nudging £5 a share.....is it the debt or the shorters?

https://www.zerohedge.com/commodities/aramco-very-optimistic-sees-demand-picking-china-aviation-recovery

"Aviation is another bright spot: demand for jet fuel is now around 1 million barrels a day below pre-pandemic levels, according to Nasser, roughly half the figure from a year ago. “It’s picking up,” he said at the World Economic Forum in Davos.

Nasser reiterated the long-held view of Saudi Arabia and many analysts that the underinvestment in the industry in the past few years will come back to haunt the market.

The world will need 4-6 million bpd of new supply just to offset the natural decline at maturing oilfields globally, Nasser told Bloomberg. Spare capacity is just 2 million barrels per day (bpd) currently, and it is likely to shrink as China reopens, he added.

Aramco’s upbeat outlook on global demand this year is also shared by OPEC and the International Energy Agency (IEA)."

Or maybe tomorrow?
Waiting for an RNS as the sp bleeds away is not a good strategy imo.
Something is badly amiss.

Buying....the sp heavily down today!

Demand more important than price right now, if the FT article below is correct, then demand will keep prices north of $80 a barrel for years to come imo. And at an average of $80 a barrel HUR is a cash cow but at $100 a barrel it is a gold mine.

Global oil demand is set to rise to an all-time high in 2023 as China relaxes its Covid-19 restrictions in a move that may push crude prices higher in the second half of the year, according to the International Energy Agency.

Demand for crude oil could rise 1.9mn barrels a day to reach a record 101.7mn b/d, while the evolving impact of western sanctions on Russia threatens to constrain supply, the IEA said in its first monthly oil report of 2023.

https://www.lse.co.uk/news/funds-jump-back-into-copper-betting-on-chinese-recovery-andy-home-gzy92tzkw15uu8q.html
It all helps....

Pointless....prob but I suspect they are manoeuvring us into the ESG space as a Uranium mining stock.

Just off to buy some more.

Wolfy hopefully not but....OMI is transitioning from exciting but volatile exploration punt into a long haul share with excellent prospects for those willing to buy today and wait several years. I am just conflicted over whether to buy more here or invest in a conventional larger player and get the dividends now?

Owners of The Titanic have renamed the stricken ship Titanic Energy?
Just get digging and show me some assay results please!

I appreciate that the JV moves the project forward but as several say below OMI found a world class resource potentially worth billions but we only end up owning 25% if we agree to a deal outlined 3/4 years ago.

The answer perhaps is that I should sell my OMI on the uptick and buy shares in Newmont, BHP etc as in the end the big players always win?

Unimpressed....too much equity given away in this JV.

P1D apparently swaging copper can result in crooked fittings......
https://youtu.be/AAVhrDfjBRg

Show me the HUR money!!!!!!

The war and sanctions was the final nail in the coffin for POS. The fate of the company is the hands of Ben Bilderbeek who loaned it cash recently. A contract or two could certainly see a sharp uptick in the sp but to nowhere close to where it has been in the past. Buy at 2p ish, wait, pray for a contract and sell at 4p!

Holding in the hope of the 3p dividend payable end of Q1.
Unconvinced that an attractive bid will emerge.