Any tanker tracking folk that know if one’s en route to Catcher? Seems a little overdue.
Q2 results mostly disappointed across the industry, not surprised oilies didn’t react much to the bounce in POO.
Pretty sure it didn’t.
Got him on filter so can’t see what he posts, but you’d be mad to believe a word of it, bearing in mind he used to scream about losing or gaining a couple hundred quid. Based on his posts before I filtered him, it seemed like he was jumping in and out at the complete wrong time, and lost an arm and leg on crypto when he joined the other sheep at the absolute peak of the market. Back to PMO, should be drawing ever closer to Tolmount FID, maybe an RNS in the next month? Will be interesting to see if they’ve bumped Catcher area reserves in the half year results.
Another decent week at PMO. Would be nice to see another tanker heading our way around Tuesday or so. Q2 results have been a little mixed so far. Profits seem to be surging across the board, although not all as high as forecast. On a side note, FAR finally starting to get into first gear, one to consider if you want some medium risk/high reward exploration exposure this half of the year.
No, not something that tiny anyway.
Fair enough ROS. I have a little skin in the game there (I had a 70p sell target, it got to 69.5p before the plunge!), but thankfully only 1/10th of what I have invested in PMO! Really looking forward to 2019/2020 for drilling other prospects in Mexico. Imagine if the block contains another couple of mini-Zamas, as does the one they recently picked up. Could be worth an awful lot of money.
ROS1, for a stock that’s not for you, you sure bring it up enough! I think deep down you’re tempted.
Triggered at 49.9p today! Not many but glad to pick up more at that price. Big thing for me here is how long it takes for water to be produced during the EPS. That will decide whether this company flops or enters the ftse100 in a few years.
I’m no chartist, but it looks to me that Brent has potentially moved out of the upwards channel it’s been moving in for nearly a year? Looking at weekly chart.
70p was the time to buy Genel. Sadly that was the price I sold out at. Oh well!
Bizarre day. This sort of drop in Brent normally causes biblical scale moves in oilies like PMO, yet we’re not far off 130p. Bodes well if oil does move back up again.
I don’t know if anyone remembers the Q1 trading update (released this May past), but in that they mention net debt had fallen to $2.65 billion - the exact same number as they mention in today’s update. That means in the last quarter debt hasn’t moved at all, even with higher oil prices, higher Catcher production and $23 million is disposals completing. Plus while Q2 capex was still high, it shouldn’t have been quite as high as Q1. Not entirely sure where all the money we’re getting from the current 90kbpod is going!
Match finishes and I check Brent, not sure which is more gutting! 6.5$ drop in 30 hours, don’t think I’ve ever seen a more severe move.
Yesterday was our first close over 1bn in several years. One of the reasons I first invested in PMO was because I couldn’t understand why Tullow was valued x7 what we were with similar production and more debt. I know others felt the same. Seems we were on the right side of history, as that difference has shrunk in half now.
General rule of thumb I now use. Take your estimate of debt reduction and divide it by four. This should be pretty close to the truth! On a more serious note, I wonder if any of the NS assets Total and Chevron are trying to offload will interest PMO at all. Catcher equity is obviously the big prize.
Same team that beat Brazil? I wouldn’t rule them out.
Some predicting quite a big draw for EIA tomorrow. API could show anything as per.
On that front: http://www.upstreamonline.com/hardcopy/1520872/partners-bid-for-mols-uk-north-sea-assets
Biffa, do you happen to recall the previous dates of tanker arrivals (or departures) from Catcher from the last few offloads? Cheers.