Member Info for Goodmann

£1+ makes sense as the company has more assets and production will increase almost 30% by next year. The additional share issue is a red herring as the company has a great future ahead. Anyone not buying shares at this price will come to regret it when the larger investor start to buy.

This is from PMO:-
We do not know of any significant institutional selling; we know of some who have added to their position. Several new investors have also indicated their intention to buy in the market.

Hang in there pal. The last few weeks have been challenging for a lot of us. Hopefully, things will get better in the weeks to come.

Yes, but probably for a short time. This time refinancing is lagging by a month from the half-year results/creditors announcement and it would have been very difficult to suspend trading for such a long period of time.

PMO is in talks with new investors, who are VERY keen to invest (so I was told). Hopefully, we see movement in the coming weeks.

Don't mind holding my breath as long as the ticker moves in the correction long term.

I agree in the short term the demand isn't there but is not going to last. As soon as the covid vaccine is available, I see the demand for travel rise. We still depend on oil and gas - well at least for a few decades

12th Jan 2016 PMO shares were all-time low (19p) - This was due to PMO Proposed Acquisition of UK North Sea Assets from E.ON. PMO debt at the time was c.$3.5bn.

What happened after was interesting- about weeks on that SP had risen from 19p (12.02.16) to 33.5p (05.02.16 and is was 73.75p (29.04.16).

Few good points to take from the past:-
1. The market reacted to the announcement of North Sea Asset Acquisition.
2. The SP drop was followed by a sudden increase in SP.
3. PMO has the ability to repay its debt. The debt has reduced from c.$3.5bn 2016 to c.$1.9bn - with debt reduction of $1.6bn over 4 years.

The company has a strong portfolio of sites across the world, it is set to increase its oil production to 100 kboepd towards the end of next year and it also set to increase its gas production.

Yes that should be $1.9b. $2.9b to scare people.

If you look at the PMO SP dating back to 1988, The company has only below 22p level only a number over the past 32 years.

The book could be better but production is increasing by 10 kbopd from September with an additional 20-25 kbopd in 2021.

It was so odd, as soon as I messaged the bottom is 22p, and a minute later SP dropped. It seems like every time more people buy to push the SP up, there are others who push it back down again.

Not sure but 22p seems to be the bottom

All I know is that they aren’t going into liquidation (wells that’s what I been told). I can wait a little for the SP to rise.

We will get through this

Please read blow what happens to oil price during a hurricane.

What Tends to Happen to Oil, Gasoline and Diesel Prices During a Hurricane?
In the aftermath of a hurricane, gasoline and diesel prices tend to spike.
For example, with hurricanes Katrina and Rita, we saw a sharp jump in spot prices in the Gulf Coast market, with the mean price for unleaded regular gasoline going from $2.30/gal on Aug. 29 – the day Katrina arrived in New Orleans, to $3/gal on Aug. 30. Prices recovered a bit following that spike, but when Rita came ashore, prices spiked once again.
Spikes weren’t contained just to the Gulf Coast spot region. NYMEX futures contracts also jumped, and with that, prices across the United States all moved significantly higher, because futures pricing represents the “baseline” for spot trading across the country.

Oil prices near four-year high as hurricane bears down on US
Donald Trump in warning to ‘get out of its way’ as Florence bears down on east coast

September 12, 2018 10:25 pm by Demetri Sevastopulo in Washington and Anjli Raval and Oliver Ralph in London
Oil prices hovered around $80 a barrel on Wednesday, nearing a four-year high as traders braced for Hurricane Florence and other tropical storms that were barrelling towards the US, coinciding with mounting concerns about a global supply shortfall.

Hurricane Danger Lifts Oil Prices
By Irina Slav - Sep 11, 2018, 11:00 AM CDT

Hurricane Florence, which is moving towards the U.S. East Coast, helped push prices higher today and will continue to act as a tailwind for West Texas Intermediate until at least Thursday, based on the latest updates from the National Hurricane Center.

Oil jumps above $60 ahead of storm in Gulf of Mexico
By Anneken Tappe, CNN Business
Updated 7:41 AM EDT, Thu July 11, 2019

New York (CNN Business) US oil has surged above $60 a barrel amid concerns that Tropical Storm Barry could derail crude production in the Gulf of Mexico.
US oil futures for August delivery settled 4.5% higher at $60.43 on Wednesday, according to data from CME. That's a seven-week high and the first time futures have edged above $60 since May 22, according to Refinitiv.

https://www.google.co.uk/amp/s/www.independent.co.uk/news/world/americas/double-hurricane-tropical-storms-laura-marco-us-gulf-coast-texas-louisiana-a9683841.html%3famp

Double hurricane threat as Tropical Storms Laura and Marco advance towards US Gulf Coast
Expert says two hurricanes have never appeared in Gulf of Mexico at same time

Could the US and Caribbean be heading for their worst hurricane season?
Experts say they are concerned as two potential hurricanes head north – and coronavirus is complicating matters

Two potential hurricanes are heading towards the northern Caribbean and mainland United States – with a third building in the Atlantic – in apparent confirmation of meteorologists’ predictions that the 2020 Atlantic hurricane season will become one of the

Hurricane Laura
On its current track, Laura will likely cause about $5 billion in losses, but if the intensity or track shifts for the worse, the total could run as high as $12 billion, according to Chuck Watson, a disaster modeler with Enki Research. About 10% to 12% of U.S. refining capacity could be shut for more than six months.

Oil prices will rise due to the refining shutting down six months+. This sounds a long term disruption to 10-12% of US refining capacity.

The company must have done its research to suggest any price future oil price trend $55-$65. I don't think they can just make it up and the $1.9b funders will take their word for it.

For the past 15 years, the oil price has been well above $55 range. Above $90 between 2011 - 2014.

$60+ doesn't seem like an unrealistic target price. The oil company would want to make up for the losses incurred during the past few months.

https://tradingeconomics.com/commodity/crude-oil

TCF You're welcome.

The oil prices have fallen to $35 in 2016 for a short period of time. But over the past 15 years, the oil price has been well above $55 range.

https://tradingeconomics.com/commodity/crude-oil

The company is increasing its oil production to 100 kboepd and this will help reduce the debt level sooner. In the worst case, the debt will take longer to pay but there is plenty of oil in the fields to do this.

Crude oil chart illustrates that’s for price of oil has been well over $60 for the past 2 years. The oils price trend is moving up, even with very little international travel.

I got the impression that lots of new shareholders shown interest and are in talks with their financial team and are going to invest BIG.

Morning All,

Yesterday I spoke to someone from PMO to address the various questions/concerns we have. I hope the response below will give everyone a little more confidence to invest.

1. We have plenty of liquidity. As per our HY Results announcement, we retain significant cash and undrawn facilities of $436m as at 30 June and we expect to be cash flow positive at the current forward curve (before any contribution from the BP assets). The proposed refinancing will extend all of our debt maturities to March 2025; our debt facilities currently mature in May 2021

2. We are speaking to existing shareholders about taking at least their pro-rata share of the $325m. So far those we have spoken to have been supportive. The $205m is underwritten by the creditors. There are others who are not current shareholders who are interested in buying in the market and then exercising their pre-emptive rights.

3. The BP assets are immediately cash generative even at very low commodity prices. At $65/bbl, the enlarged group will generate, on average, more than $300m of FCF per annum out to end 2024, consistent with analyst forecasts.

4. We forecast materially rising near-term production. Solan P3 is on track for first oil in September and will add 10 kbopd, the BP Acquisitions (mix of oil and gas) will add c. 19 kboepd on completion in Q4 while Tolmount (gas field), once at plateau, during the second half of 2021 will add c. 20-25 kboepd net to Premier. As such, production rates of 100 kboepd towards the end of next year are achievable.

5. At $55/bbl, we would expect our net debt to be c. $1bn come the end of 2024; at $65/bbl net debt would fall to c. $400m by end of 2024

6. We do not know of any significant institutional selling; we know of some who have added to their position. Several new investors have also indicated their intention to buy in the market.

7. We need to have secured the refinancing before we can launch and price the equity offer. It would not have been appropriate to have asked shareholders to put in new money before they have certainty on the refinancing terms. The price will be set when we launch the equity raise (likely towards the end of September) and will be determined by a number of factors, including demand and market conditions at the time. However, the share price has now clearly priced in the equity raise.

8. Correct, under our current financial arrangements we are unable to buy back our shares
9. The current focus is on securing formal agreement / lock up of 75% of our creditors to the proposed refinancing terms. This is expected to take around 3 weeks

Yes I added some more this morning.