focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
All off the back of 10m of low quality sand. Hey, if it goes up the same amount again I might get back to profit there again.
When people re-evaluate the fundamentals in the new year there’s gonna be a significant bounce in oil prices, probably into low 60s is my guess. Until then the robots are following the trend which is most definitely down, until their human overlords return from the holiday break. I wonder where the bottom will be. And as always, when oil is volatile, the market turns to its poster child for E&P trading - Premier Oil. It’s no coincidence this board has way more posts than the average oil company on the LSE, this is the place to be for wild swings. History shows though that those who buy in these sorts of times make the biggest profits.
Plus, 2019 is a big year for potential reserves additions. Year ends will show Tolmount reserves being booked, plus an increase at Catcher. Then you have appraisals at Zama, Tolmount East and Indonesia (couple important wells that no one seems to ever talk about). Part of the reason debt hasn’t shifted so much is that signature bonus we paid for the new Mexico block. If that turns out to be another multi hundred million barrel discovery in a couple years do you think share holders will complain that back in 2018 debt didn’t shift quite as much as planned? That said, I notice in the most recent investor presentation that the covernant target for end Q1 2019 has changed from x2.5 to x2.5-2.7, probably due to the fall in oil prices. Knowing Premier, it will probably be something like 2.9 given their last estimation.
DBNO, spending time with you has really paid off - one of my buys today was at 59.28p. You can keep your daily low buys, I’m gunning for yearly lows!
Biggest overall draw I’ve seen in a while. I hear forecasts are for the draws to get larger as the year comes to an end, fingers crossed!
members, if I was showing off I’d mention that my last sell on PMO was at 127p, but I won’t do that. Don’t worry, I’ve had my fair share of clangers outside this company. Plus if I was really smart I would have sold the whole lot at that price, not just a small portion.
Okay, sub 60, finally bit the bullet and bought more. My last buy before today was at 45p, I missed the bottom by about 3p that time. Let’s hope I haven’t missed by more than that this time.
https://sparkexploration.com/wp-content/uploads/2018/12/Spark-Exploration-Bader-Prospect-Extending-the-Basement-Play-on-the-Rona-Ridge-16_9-Format.pdf
Apologies if already shared. Seemed like a nice enough bunch of guys.
How is a build a surprise given the last 3 months? Anyway, as always, API is worthless.
Well that’s a falling knife and a half Auson. Still, could get a decent bounce if you’re lucky.
Could be some bargains, HUR and SDX back below 40p, PMO could well drop more given where POO is now vs 4:30pm close. I’ve held off buying more all this while, if it drops into the 50s I might actually be able to average down, didn’t think I’d get that chance. Of course I’d rather we were back at 146p so I could be selling rather than buying, but there you go. Once market digests supply and demand fundamentals over the next couple months oil will be back to high 60s I think. Good results at Zama and this will be miles away from today’s prices.
Double it’s production rates? Only way it’s doing that next year is if they buy us.
What Zama update are you expecting? I wouldn’t hold your breath as it’s weeks away at the earliest.
https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2018-12-16/qatar-buys-mexico-oil-stakes-from-italy-s-eni-after-leaving-opec Not surprised in seeing state companies move in now. Buying is the only way in now that bid rounds have stopped.
Cheers!
Might have missed it on here, anyone know if it had an offload this week? Was due a couple days ago.
What if the block Zama is in contains two more Zama sized fields and we sell it because we’re rushed to pay down debt, when another couple cheap holes could deliver big volumes at different prospects? Food for thought.
After the FID timeline end? Is there a deadline prior to Feb I’m not aware of? I wouldn’t expect SL to be sanctioned until Q2 2019 at the earliest. Zama is 2 well appraisal programme, first well is a deviated well designed to test the deeper Marte prospect as well as firm up the northern extent of Zama. After hitting TD it will come back up slightly and be sidetracked to get more info plus carry out a DST. Then the rig will move south and spud the 2nd appraisal well. Hopefully by then Pemex will have spudded the well on their side. I’d guess they have anywhere between 10-30% of the volume.
Timing works fine. Most of SL spend would be be 2020 and after.
1 minute before you posted. Small draw, small drop in production.