Member Info for fecm

A fair point citizen. Just very frustrating.

HG, plan for the medium term? This has been planned to death for the last 8 years at a cost of around half a billion!

is, do we have enough cash to see us through?

Personally I doubt it. Going on past experience, TD's talk of 6-12 months to me doesn't mean a lot. 6-12 months till what? FID?, UKEP re-application? Sanction (Lol)? Hope I'm completely wrong and a nice RNS drops in a few minutes explaining all :)
The only thing now that might keep us in the game without massive dilution is a decent payout on OM.

It's a bit odd that the reason given for the project being on hold is the oil price? Surely everyone knows that the project isn't based on today's oil price but the price in 4-5 years time?

Apologies Godders I hadn't seen the webinar.

Just watched a bit of it now on youtube. Around 18 mins 10s in, TD said "obviously that project needs higher oil prices than we are seeing today so we've put that project on hold for now, we certainly hope to be returning to SL and the Falklands in the future".
Would have preferred the term paused to have been used. Will be interesting to see if our bod put out an RNS to clarify this.

Either way, the licences run out next year so expect further developments over the coming months. Hey, RKH could revert to being the sole owner again! Just need a willing partner with deep pockets.

If Sealion has been formally paused then I'd expect an RNS from RKH as this will materially affect the share price.

Poster on the PMO board has made a good point that now oil price is so low, renewable energy will be looking a bit on the expensive side.

At some point it has to reverse.

You might just be describing me there lol, last Thursday I did a little day trade on PMO for the first time ever. Made a couple of hundred and felt over the moon! Tried again this morning but bottled it and only made 27 quid. Still, looking at share prices today I think I did okay. Third time lucky?

I suppose we all have our own strategies. Shame his purchases didn't do much to push the sp back up.

Godders99, yesterday you posted -

"The economist leaders article regarding the future of crude oil paints a damming picture. To paraphrase, future volatilty and low prices are the new norm and large scale projects with high break even prices will NEVER go ahead. Ring any alarm bells?

Sealion is now essentially mothballed, don't let the board convince you otherwise. This is at 6 pence for a reason. "

Please could you explain your rationale on today spending 12k on a mothballed company?

Oil prices are always volatile. It also would have helped to define 'high break even' because as far as I was aware, SL is pretty low break even. Still in with a shout until TD calls time in my view.

If things are going to be as bad as being reported for the economy, what do you think will be the knock on effect for investment in technologies to reduce carbon emissions? Surely they will suffer too thus extending the time we will need to rely on fossil fuels? I doubt the low oil price will be around for too long.

Well, that's got to be worth a couple of pence on the sp ;)

Thanks for taking the time to post the link Mogger.

That's not a post you see everyday on this board, lol- somebody in profit! Well done in saving 10 years of your life :)

Thought it might have been mentioned in yesterday's RNS? Website says May/June.

Has the OM award announcement been delayed (no explanation provided in RNS) or is it still within the current time frame? Perhaps Mogger could confirm?

Would it be fair to say 4p is the bottom with the caveat that it reduces in line with the cash burn? Therefore the value currently put on SL and OM award equates to circa 2p per share. Outstanding. And you say our leader was a stockbroker??...

Anybody got any thoughts on why this hasn't tanked today? A couple of pence off the sp wouldn't have looked out of place today. Perhaps it's stored up for tomorrow for a double whammy with OPEC/Russian decision.

Whilst you've covered off the oil price issue, we are also forced to wait until PMO get their house in order.

"While engagement with senior debt providers has been constructive, feedback received highlights the need for Premier to complete its announced corporate actions and extension of its credit facilities to provide certainty over its medium- to long-term funding position before financial guarantees for the project can be secured. Recovery of the oil price is clearly also critical to securing such funding."