Member Info for jono44

SK all oil companies want a better oil price but not all oil companies have the amount of debt that pmo have.
Many companies will survive and make a profit at current levels, even lower, but can pmo?
I think you know the answer.

No, as far as I'm concerned Aim market is unregulated and openly abused with no regulation.
The London Stock Exchange does nothing to stop how some people and companies ignore the rules, but one day might pay dearly for their complacency.
Remember banks and ppi
Agree that when someone has a buy order they won't rns it until they are finished but 6 months does seem excessive.
But as usual when I hesitate about topping up the shareprice goes up, every time.
GLA.

Did find this
The Group's base case going concern assessment includes the completion of the Corporate Actions, including the Proposed Refinancing, with a base case forecast assumed oil price of US$35/bbl in 2H 2020 and US$55/bbl 2021, respectively and production in line with prevailing rates. Under the terms of the Proposed Refinancing agreed with a subset of the Group's lenders, the Group's debt maturity will be extended from May 2021 to March 2025 and the revised financial covenants are expected to be set at a level for which there will be sufficient headroom to ensure compliance at oil prices and production rates below the assumptions made in management's base case.
So $35 in 2020 to $55 in 2021.
But these are just assumptions.
Quite right to highlight financing as main concern here.
Reading results is very revealing and imo concerning.
Debt the biggest anchor around pmo was reduced to US$1.97 billion at end of June (31 December 2019: US$1.99 billion) very concerning, they only reduced it by 20m in 6 months and the next 6 months don't look very promising!

OK doing that just now, again.
Cash do you agree with breakeven at $35.

Emerald,
If you don't mind me asking where did pmo state breakeven was $35, thanks.

Great to see Ballie Gifford buying into Jadestone .
Happy dont see how they had over 4% as TR1 states previous holding was N/A, which I assume was <3%.
Anyway very encouraging but unsure why it wasn't reported on 2nd sept.
Also noted that there were some chunky buys this afternoon which isn't surprising at this price, maybe more tr1's to come!
Some oilers in deep trouble but not Jadestone, stable, profitable, extremely well managed,more cash than debt only about 25m debt, great compared to others, Actively adding pursuing more acquisitions.
A few oilers are being dragged down due to low oil prices meaning they cant pay their debt but not Jadestone and that is very important.
TheSnowball think operating cost are $23.27 bbl according to 1/2 year results which is excellent, hope that helps.

Hope your right Bebeto, thurs 24th would be better and it was a thurs last year.
I got info from morn...star.
Whenever I think about my holding here I keep wondering why Iman Hill joined United and its why I will continue to hold because there must be something afoot.
If as expected interims are good I will add.

Yep price going down again below 3p only to rise on results to over 3p and one day the traders will lose out when they cannot get the price fall again and keeps on going up, that day won't be far away, then the traders will have to set new limits.

Unconfirmed but expect them on fri 25th.
Also expect them to be good.

Premier in dire straits if oil price stays around $40.
They won't be able service their debt.
This is the grim reality of of the way things stand as of now.
The demand for oil will never get back to the level it was before covid.
Durrant says pmo will pay back debt IF oil goes to $55-65 BUT what if it stays below $45 what then, what then, I think we all know.
It's NOT OK for TD to give an interview with a rosy what if scenario.
If they can't pay their debt then the ones holding the debt will come knocking on the door and we all know what the outcome then will be and it won't be rosy that's for sure.
As for ri price well the market will only get it right once he tell us all, to say that they have got it ABOUT right is misleading it is lower now so have they still got it right.
A lot of people might and probably did buy when he said that only for it to fall since, he should not have said that as it was totally misleading and wrong
As for Malcy, well he is right about one thing, his bucket list should be exactly there in the bucket

Totally agree with previous posters.
Shareprice reaction disappointing , but encouraging £90k buyer taking advantage.
This is such a well run company with great management compared to quite a few other oil companies I could mention.
Starting to pay a dividend as well.

Can't help wondering why someone with her experience and background joined United.
She has held very senior roles in companies with a market cap in billions yet here she is at United
m/c of 19m.
What has Larkin got up his sleeve that persuaded her to join.
Must be good.

KenniGT
30% at $65 so 70% at ?
Not happy that in the interview he painted Pmo as all rosy at oil $55-$65 and how debt would be repaid etc.
But that's just his scenario and as we all know things could turn out completely different.
What if Makcy had asked him what future woukd he foresee for pmo if the world doesn't return to pre covid/oil crash, and it won't
What if oil stays below $45, talking of oil st $65 is fanciful and unrealistic just now.

This is like being on the Pepsi Max

Stealmywife, sorry if I was a bit misleading in my post and and I woukd like to retract that Durrant did not exactly say that they needed oil at $45 to make a profit.
In the interview I concluded that long term at 100k bopd pmo would generate $150m in free cash flow when oil was $55 and subsequently when oil price at $65 pmo would generate an extra $150m for a oil price increase $10 and was thinking that if oil price was $10 less than $55 I.e. $45 it made sense that free casb flow woukd fall to zero.
I also noted that in TLW rns today they have stated that they had negativefree cash flow in H1.
So maybe I'm wrong but what happens to PMO if oil stays below $45.

By Durrant's own words pmo need oil above $45 to start making a profit.
The last 6 months well below $45.
Years before well above $45 so what was he doing precovid and oil crash when they were making millions.
Management has to change or this mess will just continue no matter how high oil goes and will only get a lot worse if oil stays below $45. Not worth thinking what will happen if it stays below $45.

Two things struck me in interview.
Firstly RI market has about right but usually with a 10-20% drop, so looking at 16p-18p imo.
Secondly, and more worrying was at the end.
He gave figures about free cash flow dependent on oil price.

Oil at $55 gave free cash flow of $150m
Oil at $65 gave free cash flow of $300m.
So it stands to reason that oil at $75 would give free cash flow of $450m, and so on.
But oil at $45 would give free cash flow of $0m.
And just oil is at around $40, not good,

Thanks SM.
Didn't really see anything new,
What does concern me is lack of news on final funding, think its around 70 odd m$, so half that for dnk.
Also the afc funding is being held back and as mid price is now 27.5p well below the 33p that afc will pay.
Just think that things might change, and not for the better, discounted placingon cards maybe.

Link to IOGP new executive director

https://www.iogp.org/blog/press-releases/international-oil-and-gas-producers-welcome-iman-hill-as-new-executive-director/

Quite impressive for her to join United, Larkin must have charmed her with something.
Don't see United on members list but admittedly it is full of top tier world oil companies, which is of course where we are heading yes.

OK who's the joker that bought 1 share, own up.