Member Info for IAmNotAnAnalyst

Thanks New, Interesting thoughts, not long to wait now until the news chapter is guaranteed to start! I'll also keep a close eye on the RNSs.

New - do you think they'll wait till the very last minute? I was thinking sometime this week, maybe to catch people unawares (as at this point they must know what they want to bid), that's if they're actually still interested in bidding. Also, I'm assuming the two companies aren't really talking directly now, at least about the full takeover bid as they're so far appart. It could be that the 3rd parties are drawing up plans for asset sell offs and swaps and what not and acting as intermediaries.

Medi, yes I'd say there's a big chance of new imminently, I think it's been about 7 weeks now since beginning. That's a bit longer than 'normal', although the drill is more complex than normal so it becomes a bit hard to predict. It's risky to be out, I think so...but hey ho being in is risky too!

The equipment arrived about a month late, not early. However, 3 weeks, 4 or 5 who knows?

Hehe, I was only joking. In my head it sounded playful...however it would be a good way to do a sly dig if one was so inclined :D

Is that a sly dig?

API is tomorrow...why doomed?

A good uplift today, maybe the share accumulation is finally helping! I feel a revised offer coming...

It's a large bet whatever their game...that makes them the second largest holder now.

10 days left now...

That's what I thought. It doesn't really exist does it?! Share buyback would be capital gains. Dividend would be taxed as income. Am I missing something?

I guess we won't know if Shroeders are out as they'd no longer have to file a notification would they?

"when will I, will I be famous" that's one of theirs. There is a doc on BBC called Bros - the pair come across a bit ummmm, out of touch would be a generous way of putting it. Strong evidence that fame in youth goes to your head.

I think PMO intend value creation... We don't have an inside track on the possibilities on the table. Time will tell...

TR61 - I can't see this going down much further, unless that is the PoO drops significantly. The RNS confirmed nothing from the absurd article. They said maybe they'd be something if the price and opportunity was right and they don't know how they'd fund it. That's minimal confirmation of anything in the article, aside from the fact that PMO are on the lookout to buy something, but that doesn't mean they will or that it'll be so much money.

Must have been one of the few that I added! Glad to hear I'm not hallucinating it though :)

I can't find the reference to it now but what is the closing date for all the Chevron bids, is it the 18th? I feel the SP drop is massively overdone here, as we're not going to be trying to buy $1.5bn of assets and that seems to be the implicit assumption. In my mind we're talking about $100m-$200m of assets to take advantage of the tax situation. Because of that tax advantage there's plenty of scope for a deal which wouldn't necessarily require cash upfront and satisfies both parties. Im confident that if that kind of deal comes about we'll recover to where we were, if not with a minor improvement. Therefore I'm a bit impatient as to when we'll find out.

Interesting DrillPipe, so they responded to point 1 pretty quickly in making Dr Chaouch a non-exec. What do they mean in the final point about return of capital to shareholders? "Tax free capital reductions" that seems like a weird way of asking for a dividend?!

Yep descent update, steady production and expansion plan. Good cash flow, low debt, nice little hedges for c.20% of production @ ~$70. I'm feel like we could go above the offer price today.

How about this...you've bet on your team, it's half time and you're 5-0 down. The bookie will still take some new bets, so maybe you'd like to make a new bet?