Member Info for Goldenbadger1

Thank you DRS1 for the info on GS position, very interesting and appreciate your reply. GB1

Delek bought 16k boepd net and an appraised resource 78m barrels at $965m .

Using a fag packet calculation .

Catcher 33k boepd net apprised resource +- 80m barrels value $2.0b

Zama development : cost PMO $500m (25%) for net +150 m barrels (25%) , Proj gross production 175k boepd

net PMO 44k boepd . Value once appraised + $1.0b....... minimum . Any thoughts ?

Interesting purchase in US GOM Delek paid $965m for Shell Ceasar-Tonga field share of 22.45% . The field produces gross 71boepd presently with reserves net to Delek of 78m .
Against this, with all the variables puts a value on Catcher and possibly Zama .

An understanding of Tax, Isa's , tax brackets ect and the pro's and cons of the aforementioned . Do not illustrate a need to sell, only an OPPORTUNITY to improve my personal return on investment .
Let us have your insight into the strategy behind the Goldman moves, DRS1 . Enlighten us please .

Members as a small fry PI i think predictability these days would require Nostradamus with an improved hit rate . So at this point, i may as well take a chance and protect my tax free gains . Could backfire we will see Monday .

Interesting relationship between GS and Delek who have interests in N.S and GOM also helped push through the Ithaca deal if i am not mistaken .
PMO shares will be soft next 2 days due to Tax year end,investors locking in profits .

Maybe i missed the insight previously on this board . Have GS traded in this way previously with a comparable company to PMO?.......... If so what was the end game ? Voting % to approve a takeover ? Voting % for dilution ? Someone on this board should have seen this strategy before .

Share price rise will continue until AGM, as votes on performance and reward are again on the agenda .
The Time has arrived where the BOD are rewarded going forward with share options only . No bonus , zero increase in package, as they are more than adequately rewarded presently . Shares options with 2 ,4 and 6 year vesting periods give 500,000 each and base vesting on £2 + after Feb 1st 2021 , £3+ Feb 1st 2022 , £4 + Feb 1st 2023 ect . I think we would see a win win for all . Just a thought ........

Rns for completion of Pakistan sale in next 10 days bit more off the provisions and little more off debt .

If memory serves, early April update on 2nd drill, Pemex starting to drill April and full evaluation of Zama in Q3
July will be the month all is revealed regarding recoverable barrels 600- 1.0b . Between now and then believe 1.50 should be possible, with each dollar increase in Brent above $65 adding $30m to bottom line.If all other elements remain equal .

Danke Basil .

Would i be correct in saying $82 m has been the cost of transition to IFRS9 which increased long term debt aswell as a aligned reduction in net assets ? Is this a one off Accounting cost ?
$400 M in Finance costs is quite a hole in our net profit .

Solid 2019 projection, nice to see 40% Oil hedged at $69 and gas hedging up to and including 2020 .
Need a bit of financial clarification Basil if you are around ,on Finance costs .
Financial Costs including other Financial Expenses and Losses .
2017 $ 329.0m 2018 $ 400.6m includes cash interest of $229 m 2018 .
The balance of $171.6m is for ? Thought refinance charges carried in 2017 .

Very interesting value Marathon Oil sold for $140m with 21m boe reserves and production of 13k boepd ( 4 years production ).

Good guideline on value of Mol Catcher with a few variables .

Always good to here another view Jay . Eon assets cost PMO £120 M if my memory serves , a fantastic deal and saved the company .
Chevron assets i believe will be north of £1.0 b, so a different bracket and an RI at 50p won't do it in my opinion .
My personal hope is trade Zama once fully appraised with Chevron small cash input and zero RI .

Jay as many have said, realistically RI would only happen with price over £1 .
Many possibilities so just my view of some options and obviously as a LTH important to discuss with fellow PI's and listen to other opinions . We are at an interesting point so the PMO bod will have to make some difficult choices whilst fulfilling the mandate of returning value to Shareholders .

While the Friday Club are looking at the coming week , just a few projections for 2019 PMO .

1. No purchases from Chevron or Mol . Oil ave for the year $65 pmo production in on plan , debt reduced to around $1.9b . Capex spent on proving Zama , Tolmount East , Indonesia and maybe block 30 Mexico . Share price 15/1/2020 £1.40 maybe if no suprises .
2.PMO do a deal with Chevron for there 65K boepd and approx 180 m boe in the ground ,Maybe Block 7 Mexico plus small cash adjustment . Transformational for Pmo . Share price 15/1/2020 detail dependant .
3.PMO cherry pick Chevron and use fcf to fund max $300 m for 10-15 boepd . Share price 15/1/2020 detail dependant .
4. PMO buy Mol 20% Catcher +- 12k boepd between 250M- $300M max tax friendly takes us to Tolmount and should be low risk option .
5. PMO decide on tapping the PI's for an RI to fund a combination of the above again Share price 15/1/2020 impossible to predict .
6. PMO as with Ophir are taken out by a hostile takeover with GS instrumental . Ophir $392 m 55p share 25k production .

Basil as the Financial Guru what would we be valued at in comparison to Ophir ?

'Transformational' was the word used by TD regarding the Zama find, so based on that comment , anything less than 200boe net to PMO will not be transformational in my opinion . Geo .

Possibly the comments were made prior to TD realising it could go into Pemex block and should this be the case the upside should be reduced capex as we will have another partner and maybe more oil . Patience .

Read a few earlier posts from Ophir LTHs .The BOD of the company should be embarrassed with that disgraceful deal they are trying to sell to shareholders as value . Fred the Shred springs to mind with his justifications for his shocking decisions .
Just goes to prove that Pi's will be sacrificed without a second thought as seen today ........ acceptable collateral damage . The set up at Ophir has followed a similar pattern to Faroe . Enough Bleeting ffs .

Sierra and Talos both reported Zama find as up to 2.0b bls in 2017 . 2019 Drills so far have confirmed and improved initial findings . Based on 3 possible outcomes the following could be possible .

Best 2.0 b confirmed Upper range recovery 60% net PMO 300M bboe
.
Mid 1.8 b confirmed Mid range recovery 50% net PMO 225M bboe

Low 1.4 b confirmed Low range recovery 40% net PMO 150M bboe

Above based on Zama only as was also reported another 3 good prospects also on Block 7 .