Member Info for grippa

For anyone concerned the simple way to prevent dilution in a rights issue is to take up full allowance if shares on offer to you. The cost here will be insignificant to what they could be worth in 12-18 months down the line!!

I think so Surefit certainly makes sense with the timing and its thought GS were facilitating the ARCM short!!

I think the reason GS sold the other day well I'm estimating they were facilitating the ARCM short position, would make sense as were CFD trades!! Just incase anyone was over analysing the sale!!!

Kilgeever your an ass don't be surprised when people are an ass back!

Your right Kracken it would the rumours could only put a bit hot air underneath our wings, hopefully only just rumours.........

Chris Oil us untrustworthy as they come has blocked me for saying so. This would be disastrous for premier to be bought out anywhere sub 150 which I highly doubt it would be anywhere near. I fully expect the board to oppose any offers made by Apache they has been years of hard work to get to where they are all they need now is for oil to play ok and there going to be a totally different company in 2 years time. The present market cap is not a great deal more than what Zama alone could of been sold for a few months ago.

This company has fantastic assets, it has fantastic management. The only problem has been the debt, With the sale of Zamma and new assets we will quickly reduce debt over the next few years so long as we have some form of covid recovery. To be forced to sell now at such a low would be terrible news for any long term holders. If its just a rumour then can do us know harm and might lift the SP a bit but to be sold now would be a waist of all the years of waiting for Jam tomorrow as will not be receiving FULL true value in current environment. In 2 years time with a better price of oil and 1 billion debt then you will see FULL TRUE value being reflected!!

Kilgeever all you ever do is spout twisted media reports to de-ramp...... you think anyone buys your lies??????

Thanks Beerbull the last few months have nearly killed me a few times but still here............ Your right about jam tomorrow but I do THINK BP will be trying to help us out they want decent company's left in the North Sea to buy there old assets I think Enquest were nearly given the Magnus for this very reason. We do need luck but if its on our side then could have a good future. Thanks and all the very best for yourself :)

ARCM I agree it can not happen off there short otherwise would of been happy for Premier to buy BP assets first time round. They do have a big seat at the table your right but there not liked by other debt holders and as long as we keep onside of other debt holders which they have a good relationship with so I m told then ARCM can not call all the shots and get what they want, yes they do have a say but not total control. If you read the long report off the Judge she is dismissive of all of ARCM's arguments, can never say never but even ARCM themselves can not be confident in winning the appeal, my opinion is they are just using it to buy time.........

The rights issue to buy BP assets, I m not able to tell you how it will work but Premier are talking to BP about this so they must have a plan. If you have the money to take part in a rights issue and believe in Premier long term then this will be the best thing that can happen as a shareholder in Premier, once BP assets are bought and debt pushed back then Premier will be a totally different animal, the only thing I hope is that at this point Debt reduction is premiers main focus as don't want to be in current position again!!

ARCM I never said it would happen ... I certainly hope is does not happen, but just a option maybes they use it as a time to buy off the open market.

As you all know Catcher is our no1 asset now work with a guy who was on there and he said the amount of oil they have in the field is as good as anywhere, and with infill drilling I expect them to outperform forecast reduction in production as many smaller pockets around the main reservoir they will/are currently taping into. The BP assets shell was planning drilling soon(though I believe has been delayed due to down turn) which could increase production from the current 23000 barrels per day (Think) so could well be better if drilling is successful. Tolmount has already had success tapping into east Tolmount There will be more I m sure. Solans recent P3 well should start production later this year increasing production from 3000 isa a day to 10000 a day. The current downturn has been extremely painful no doubt about it but with a little luck within 12 months we could be in a much better position than we were before the downturn 2 months ago.

I Think they could be debt free If they buy assets and debts pushed back then the next maturity could be totally debt free. 1.9 billion debt now sell Zama they longer its left to sell the better the price I m guessing, say worst case 300 million, down to 1.6 billion debt, then say debt reduction of 500 million per year with Tolmount in production.

The Price of oil's recent bull run is playing massively into our hands, whether or not enough to prevent breaking covenants I don't know but will be worrying ARCM make no doubt about it. Good luck guys!!

ARCM will be hoping for a rights issue and hoping to be allowed to take part in it, they might be given a opportunity to take part but only for part of there short I would take a guess at. But they might not depending on how things go from here them will be kicking themselves they did not close at todays prices. either way Winning the court case played massively into Premier oils future and puts a block on ARCM being able to control us in the way they would like to. The Price of oil's recent bull run is playing massively into our hands whether or not snout to prevent breaking covenants I don't know but will be worrying them make no doubt about it. Good luck guys!!

The best thing by far Premier can do is to buy BP assets with a rights issue, no extra debt lots of extra revenue, with exploration opportunity, Debt put back to a date that we will be able to pay it off in full!!

As long as we have other lenders onside then ARCM won't be able to control us in the way they would like to we have already won the court case against them and nobody expects them to win the appeal, read the judges reports is you doubt this. They won't be able to buy more debt as no other lenders will sell at these prices as would be crystallising losses, they will want to ride out the storm and see there debt recover.

ARCM are bought the debt on the secondary market theres now way TD would of dealt with them direct but unfotunatly this is how they got in. They opened the short purely because they thought premier wanted to buy assets and there would be a rights issue at a lower price to close the short. They did not expect the positive impact announcing buying the BP assets would have and this is why they opposed it, nothing to do with "they didn't think it was in best interest of premier" they opposed it purely because it was not in the best interest of there short, but were extremely lucky that Corona Virus came, along talk about fluke. I'm not sure how things will go from here but there much bigger investment is in the debt and do not want to see premier go bust as that would be a much bigger loss to them. The current increase in Brent Crude prices is only helping PMO and reducing there chances of breaking financial covenants, but even if they did wavers will be applied for and it is in nobody interest to not accept wavers.

first time posters employed by ARCM??