Hopefully they won't farm into my other failing oilers Irish licences EOG hold Nigoil, that would tip me over the edge I think....
Seriously though given the cash burn here over the years and the severe lack of any value being added to the company as a whole I'm shocked we aren't seeing any movement forming to create a credible vote of no confidence between the larger holders of this company.
The greater fool is posting some excellent factual examples, exactly the type that probably make moody shudder, but I bet he still sleeps like a baby on his bed of money.....
fecm, what if a takeover was the only way this could go ahead?
RKH are looking like a one trick pony, it may come to the point whereby they have no other option than to submit or fold, for the record I hold both RKH (59p avg) and PMO (58ish avg) and don't intend to average down here, or up in PMO....
Anyone's having thoughts of this becoming a possibility?
Pre-disposal of Egypt would certainly smoothen the deal, not sure if Egypt would have been attractive to PMO given the concern of receiving payments from Egyptian production.
Anyone have a value in mind for such a deal if it was to go ahead?
Inishkea prospect is in process.
Europa's CEO, Hugh Mackay, said: “The conversion of LO 16/20 into a 15-year FEL is an important milestone for the Company, as it allows our flagship Inishkea gas project to be drilled once funding and relevant regulatory permissions have been secured. With a one in three chance of holding gross mean un-risked prospective resources of 1.5tcf of gas, close proximity to the producing Corrib field, and the potential availability of spare capacity in the gas infrastructure, Inishkea represents a low risk opportunity to generate high exploration reward.
“As previously announced, we have negotiated farm-in agreements in respect of FEL 4/19, FEL 1/17 and FEL 3/13 with the NW Europe division of a major oil company (the “Major”). Europa is in regular contact with the Major and continues to await a final investment decision from the Major’s head office. However, owing to the length of time it has taken to complete the farm-in agreement, we have continued to market the licences to other potential partners, resulting in a number of other major oil companies expressing an interest in farming in to FEL 4/19. We are focused on being in a position to drill Inishkea at the earliest opportunity and farmout discussions are ongoing with a number of parties, including the Major. Together with the upcoming formal award of an offshore exploration permit on the Atlantic Margin of Morocco and positive news regarding the Wressle development, this is an exciting period for Europa and I look forward to providing further updates on our progress.”
Was just about to post about SXX, I have a mass interest in the project as it is very local to me, however I felt some time ago it has far too many financial complexities to overcome prior to taking a position, with Brexit looming I imagine things will only get worse before they get better.
I will be buying some shares later in the year though unless anything drastic happens.
Trump will end up the man with no friends at this rate and anyone colluding with him currently seems to be doing so with baited breath, it wouldn't surprise me that if he gets another term in the seat then an alliance of countries form against him.
Nobody likes a bully and that's exactly what he is, and so far he hasn't backed his mouth up fully, no doubt leaving his enemies wanting to test him
Ask yourself why carrot is here.
It's simple, she knows this will go ahead and wants in as cheap as possible, nobody would spend as much time slating something as she does without gain.
Absolutely a paid/professional deramper, buy into fear folks, its the way big money is made...
Agreed Tarth however when the same media outlets fluctuate from one end of the spectrum to the other it does baffle the average Joe bloggs on the street (like myself) however that's maybe the media's whole point in existence.....
I've never been so confused by the press articles surrounding oil price/demand and future predictions, the sector really doesn't know which way it wants to go, depending on which articles you stumble across on a daily basis you can go for one extreme to the other.
I think we need a strong catalyst to get this moving again and provide reasonable value.
Noticed a bit more recognition for IMO 2020, bit up in the air on this one, it could be 2020's saviour or depending upon levels of enforcement, or it could amount to nothing.
Looking for an exit in the next month or two if this nonsense continues.....
Keep Zama, once in production it will assist in servicing debt short term and help build the foundations of a debt free PMO in years to come....
I'd setlle for a farm down to bring the debt burdon of seeing it through to production less onerous to PMO.
Carrot, get yourself down to meet Sam, seems a nice humble guy, and given you're likely to be a future major shareholder I'm sure he'd welcome you with open arms.
Also some digs I'd recommend - https://www.plumguide.com/homes/london/welbeck-street-v-2
Demand is falling for now, have a read of this, I expect marine traffic will adapt and migrate in q4 ready for new legislation coming in to force, there's your additional crude demand made up to support oil prices.....