Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
Should be legal action against Bill for what hes done here, created a situation where he gets to keep the company for pennies and screw over investors. Should be in prison for what they are doing here.
Invested in this company as I believed the story now it looks as though lost life savings.
I'll try be a bit more optimistic as one of my bigger holdings.
I do believe they have been trying to increase recovery rates, once they can show improvements in recovery and rates we will see this turn around.
I'm not buying into the conspiracy theories, issues they have had arent abnormal while setting up a new site, they know what they need to do to improve recovery rates.
Calling the bottom at 2.15, expect it to be back 4-6p towards end of the year.
30m is useable though, but if its anything like 6000 that would be amazing and push us over 4.5-5k
BP are NOT operator for Shearwater, only for Andrew.
Very disappointed that looks like serica have let this asset slip through the net. Ithaca are buying the Andrew and associated assets, but not shearwater stake. Agreement is imminent.
Great news, opening 37p and still rising!
The only shares being issued will be the ones to ARCM.
Rest is funded from cash.
PMO will renegotiate the terms so that a share issue isn't required.
As profits are being back dated to 2019, they will essentially get most of it for free. The issue for funding was for the development of these assets, BP will negotiate as they did for Alaska so they can get access to the decommissioning pot they have for the assets. This is a good deal for Premier, Andrew's lift costs are around $6-7 under BP...without that BP fat it will be even less. Don't focus on the price and terms as they will change with whats happened.
Production back dated....
They are essentially getting it for free........
Bye bye NMC.
It was a high risk play, that didn't pay off for minimal expenditure.
Still producing, oil higher.... PMO isn't a one well pony.
Still no info, has the judge got corona or something??
Awaiting RNS today yeh?
2 weeks that the judge gave for deliberation is up tomorrow, should be today or tomorrow.
Andrew has lift costs of $6....if PMO get this its a massive win, if they can reduce purchase price then its no brainer for them.
Has anyone got the link to the website that will publish the results?
Is there any expected delay with all thats going on?
Should be today or tomorrow correct?
Great that they seem to priorities offshore workers with testing, maybe because its Aberdeen and Scotland still seems lightly effected compared to London ect.
Theres loads of north sea assets with confirmed cases that have been evacuated. Its going to get everywhere this virus, most will be fine.
FPS is shutting down this weekend. HUR won't be effected but others will. Still producing...thats the only thing I take from the RNS that is significant.
4 weekers are the norm in the North sea now for most of us. Talk of dispensation for longer for some on our place to cover critical roles.