Member Info for JenniferE

Actually the yield would be slightly higher as the coupon is 6.5% not the 5% quoted on the website. In reality though we know they won't be redeemed on May 21 as pmo doesn't have the money. They need to be rolled over into another longer dated debt instrument and that is what the current discussions are about! The retail bonds rank equal in all respects with all other senior debt!

Wow KenniGT, I hadn't realised I was the one you were trying to insult with the "smart arse investor" comment!
As you even show on your later post I didn't say pmo don't produce gas, I said pmo don't sell gas in America! Pmo sell gas in the UK and Far East and the prices in these location have no link to Henry Hub prices and so there was no point in showing the Henry Hub graph!
If you know so little about the company you invest in then it's best to refrain from throwing insults!

Brent is 42.50 though and pmo sells relative to Brent price not WTI

Happy investor, I'm not quite as pessimistic as that as I don't think debt holders would want to force a fire sale of assets at current prices. If I were a debt holder I'd be happy with the deal that was being suggested but I'd be insisting half the free cash flow went to paying down debt. Another possibility would be a debt for equity swap which would put the company of a much firmer footing and would allow for an attractive merger.

Whatever though I'm sure there will have to be an rns before markets open on Thursday.

Whatever, I will still sleep easier when we get a rns confirming debt holder agreement or a covenant waver because until then it is still a possibility.

I have no idea what that is but definitely no!

Thanks devonplay, that makes it quite clear.

This is taken from the last financial report:
" in the absence of any
mitigating actions, a breach of one or more
of the financial covenants during the 12
month going concern assessment period
would arise and the Group’s financing
facilities would be classified as current
liabilities in subsequent reporting periods. "
Classifying the debt as current liabilities in this case just means repayable on demand!

As I said I'm pretty sure this won't happen but you have your head in the sand if you are arguing this can't happen!

It doesn't mean they will and I'm pretty sure they won't but it's foolish to pretend the threat doesn't exist. Once covenants are broken the debt holders can demand repayment of $2.4bn of debt and pmo would have 30 days to comply!

Talk where? Please provide a link! We are currently three days away from debt holders being able to take over the company without a deal and I'm pretty sure they are not holding out for a better deal for shareholders!

Someone has tied their brain in a knot with that reporting! They are trying to sell $200m at 72c in the $! 72c maybe 56.51p but it isn't 56.51p in the £ it would still be 72p in the £!

Sorry KenniGT but no it isn't! We need a deal signed and delivered asap and a hedge fund with a large short position is not looking at the interest of shareholders! Their previous suggestion was to sell off all our assets to pay the debt.

None, PMO doesn't sell gas is America!

BP cut their dividend after it had gone xd because of their accident, I know because I held BP at the time!

Germany is very interesting in this respect as the mortality rate in Germany is currently 0.2% way lower than any other country. This is the same as the official rate for those under 40. So I suppose this can be explained by all those with the virus in Germany are under 40, Germany has vastly better medical facilities than other countries or they are simply more efficient at testing and detecting cases. I suspect the latter is true which would mean the mortality rate is very similar to flu although it is vastly more contagious since no one has any immunity.

yes, BP cancelled after it had gone xd

Lets all hope the filthy hedge fund scum are nicely burned for xmas!

Is there a 35% withholding tax in the dividends?

Why would the cash surplus only be £150m? At the last accounts net debt was only £40m, we are receiving £300m cash plus they are taking on £100m of debt, that should leave a surplus of £360m of which £200m could probably be returned to shareholders!

Well it looks to me like M&P didn't decide on an offer price until they'd seen how the market reacted on Friday. It's not that relevant anyway, the fact is no one will pay more they they need and at the moment no one would need to pay 39p!