Member Info for fecm

No guarantees but I'd say we will be in a better position on Thursday than we are today.

Just as well Harbour Energy has come to the rescue then.

I thought it was a bit odd that Harbour Energy were being referred to as a 'joint venture partner' before the merger with PMO had gone ahead. Further surprised that FIG were engaging with them before merger completion. As pre2rcd says, there must have been a firm show of commitment shown to FIG to permit these discussions to go ahead. Otherwise, why were PMO not continuing as normal?

"Should the proposed merger with Chrysaor complete, it is anticipated that the enlarged group will have significant financial resources to support a future development decision. However, this will remain subject to the completion of technical and commercial evaluation activities by the board of the enlarged group. Because the proposed merger will represent a reverse takeover by Chrysaor, on completion Sea Lion will be measured at fair value, which could differ to
its current carrying value"

Doubt FID will be anytime soon. We need OM award asap.

Thanks Mogger.

"The Sea Lion development is nearing final investment decision. Prior to the Merger being announced, Premier were expecting to sanction the development in Q4 2021. The ability of Premier to recover the carrying value of Sea Lion capitalised E&E expenditure is primarily dependent on its ability to secure the required finance to progress
the development activities."

Usual start to the day.

15th May 20 - Extract from:

https://penguin-news.com/headlines/oil/2020/premier-oil-suspends-sealion-phase-1/

“FIG recognises that, in the present macroeconomic environment that has been created by the Covid-19 pandemic, it is not possible for oil companies to take an investment decision in a project of this magnitude due to the exceptional decline in the global oil price.
“Prior to the recent global difficulties, the Sea Lion project had reached an advanced level of maturity in most areas, with several key project approvals in progress. FIG and Premier will continue to work together to progress various regulatory matters over the coming months, so that the Sea Lion project can resume promptly once the global oil price environment has recovered.”

I'd say that the global oil price environment has now recovered. Question is, has it recovered enough? If it has, things could ramp up quite quickly. Here's hoping.

24p?

Agreed, unlikely to be news driven. Today's rise most likely down to growing confidence that SL is still in with a shout.

"RKH should be considered by all investors as a high risk bet which is fine in a balanced portfolio."

Any financial adviser would have a heart attack if I showed them my seriously unbalanced portfolio!! I can't even pick winners out of the blue chips being down circa 40% on LLOY and 35% on VOD. As for RKH, add LLOY and VOD % losses and the figure won't be far off where I am. This time Rodney.

Interesting that the wording has changed from Sea Lion being suspended to 'reduced activity'.

Looking at the trade prices, could they be buys?

Just had an email saying iii are going to close their share discussion forum. No surprise there after the awful site that replaced the one that 'worked' with. I miss the blue and red triangles!!

Seems to be a common occurrence these days. MMs finding it difficult to create a market for RKH?

If that's without an OM award, I'm more than happy to take 50p+

Question is, how high will it go?

Nice jump, they couldn't hold it back forever!

Hope that 28% spread doesn't hurt you too much wraith.

Hi Auson, I'm getting quoted 9.52 - 10.34 on IWEB. When I do a dummy buy it's 10p so there is some stock available. The trend is definitely up at the moment.

Oil $68!!