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Im with you JMAX, the 500 million in itself I don’t think will create a significant long term increase in SP but obviously it should increase confidence and make Tullow look like a better long term bet to other investors.
That was based on $60-65 per barrel though.
Don’t get me wrong I’m heavily invested in this company, probably far to heavy but if I had known how many extra shares the board planned to issue I would have been out of it weeks ago.
The fact the price fell so much speaks volumes of what the market thinks.
I have to agree with antigua on this one, I can see the sp recovering but technically 33p will be the old 100p if there are 3 times as many shares in circulation.
We are 20/30 years away from being able to set timelines to move away from oil, oil is down as a result of covid and restrictions on movement.
I can think of 5/6 friends and family who have bought new cars in the last few months, all petrol or diesel engines.
Oil will be around for a while yet!
7th January and 5th April 2020 I think the statements were issued SK.
My opinion and it is just an opinion is that the market likes the BP purchase and it will do us no harm at all regards the share price.
Will hold this one a bit longer yet.
Each time this deal makes progress the share price shoots up, that tells me when the deal is completed the share price will increase and not fall.
Yes there will be more Premier shares but more shares in a more valuable company.
If that’s the case then why did the share price jump on news of the revised BP deal?
Never be scared to take profit, its better to take a small profit than end up at a loss.
Another typical day as a Premier Oil share holder.
I didn’t have the nerve to top up though.
The traffic is really starting to get busier this week, I take it as a good sign of things to come for oil and the UK in general.
Sorry SK I disagree with you, there’s plenty of profit to be made from the BP deal.
A lot of these renewables are going to be expensive projects not generating returns for a few years yet, better to let the big boys throw money at them for now.
Im with Alfamale if the deal buys x number of barrels and Premier are able to make a decent profit on each barrel then providing Premier get back more in profit than the original purchase price then this is a good deal.
Yes oil consumption is probably going to slowly decline but can you really see us all driving electric cars in 10-15 years?
I don’t think for one second everything will go back to pre Covid 19 levels but I have no doubt things will slowly start to go North regards oil prices.
Could it be ARCM clearing more of the outstanding shares owed?
I generally buy late in the day, usually Friday’s and sell during the opening morning rush Kraken.
I more or less moved completely out of shares a while back as I thought the market was due a correction but nothing to the extent of the Carona effect on the market.
Ive done really well the last few months with Premier but I am starting to think I should cash in my gains and take the profits soon.
Biden backtracked on his no fracking comment when he realised it was a vote loser.
He’s back in school this week!