Member Info for fiveeights

Not without good reason. Fortunately I am not included but some people and institutions must have lost their collective shirts on this and the company lost a lot of credibility. The 'long way around' story is one of hope and tragedy. That is actually great news for new buyers - as the stock looks undervalued. Looks attractive at this level although await Argentina work over update for further proof of performance. I purchased more this morning following the news and will look again with interest on a good update end Sep.

President Energy Plc : Finncap starts with target price of 21p

You will find out next week as PL confirms update by end Sep. Over 2000bopd covers a lot of numbers. The deal certainly starts to give a footprint in Arg. I take the acquisition as positive. Good to have partnered locally.

Spending time in Argentina, as I do, it is hard to underestimate the sea change and pro business policies flowing from election and continued progress of Macri. If PPC liked Arg under Kirchner they must love it under Macri. The macro environment is v important to PPC so Malcy is right to mention. When you travel in Arg YPF are everywhere and serve as an acute reminder of how wrong the previous administration was.

Background on fall last week from Irish Times https://www.irishtimes.com/business/agribusiness-and-food/greencore-share-slump-linked-to-loss-of-starbucks-contract-in-us-1.3200066

It is not illegal to short.

CFO now tucking into 25,000pcs @ £1.96. BoD throw down the gauntlet to the market. Big vote of confidence.

Irish Times also suggest rumours had emerged about Florida hence the statement. Does not seem material. Unless they are completely in the dark and following today's Director buys this has been massively overdone. Shorts running for cover after 11.32.

Now to me a 50k buy from CEO is far more calming than the statement issued yesterday. Woud hope to see this move back over £2 now

Very nice buy from CEO PC, 50000 at £1.88

If there is any concern as to integration of Peacocks and/or prospects in US it might show up when states open up. I am waiting until then before deciding on any new position

It is a really good interview. Malcy is really keen on PPC and I suspect his relationship with PL stretches back to IPC. Not sure if that is a good thing. I would think an update on Arg workover program is due early Sep. Continued progress there and this is comfortably 8-10p plus IMO. To me Paraguay remains speculative and far from assured. Clearly, I and the rest of the market remain unconvinced on whether PPC can deliver a commercial discovery considering the history. Having said all that I am a happy holder if only for the benefits of a successful workover

In fact 4 brokers have reiterated buy ratings today following announcement with target price unchanged: Peel Hunt, Numis, Shore Cap and Whitman Howard

It just seems utterly bizarre to issue that statement today. It creates its own sense of panic. Wasn't warranted. Shows nervousness at best and spooks rather than soothes. If the statement was to hold a base line to the price before Nov then it hasn't worked. FY release in Nov is so key now but it will be a rocky ride for holders until then. If he delivers on FY numbers and US has held and integrated then it should see a massive re rating. Failure to deliver US and positive US outlook in Nov will damage. Update on July 27 and again today also carries reputational risk for PC if not pulled through into Nov results.

Wow they look very silly now. Taxi for the advisors please

Price down 10% since Q3 statement on 27 July to last night's close - not a great performance but not significant to warrant today's comment. Statement not necessary.

Great lesson in how to create panic through a calming statement

So this reiterates that FY numbers are going to be in line with estimates which puts the shares on 12 to 13 times forward earnings. Too cheap. What puzzles me is why to issue the statement. Prices move around all the time. It is not Coveney's job to give a running commentary on share price movements. There must have been some news/concern out in the US to warrant this. Watch out for this full explanation in Nov.

I don't know if you were on the Q3 call but it was very positive (think it is available on the web site). Bear in mind that they were already one month into their all important Q4 and Coveney remained prudently confident for FY expectations. US integration was on track. These are starting to look very cheap. I am reminded of one word from Coveney 'transformational'. He has to deliver part of that expectation at the FY. Unless they are having a terrible end to Q4 or there is some issue in US or with Tyson's attitude post Advance Pierre deal then I see value. Forward rating is too low.