Polaris debt is 1.91bln and this was known when share price was 100p+ (even more back than) Dept is replayed and production is above 70000 barell per day.
Here is my old post about profits from UK production. Almost 300mln just from tax gains. That is why BP aquisition makes so much sense to reduce debt quicker. ''Payments for UK government in 2019 were $1.8mln . UK producing 57.6k out of 85.9kbpd in 2019 = 67% of total production. Payments for other governments were $294.1mln for 33% of total production.''
Yep, I can sense new re-rating is coming. It will happen in surprising moment as before methinks. They do not like small investors to pack onboard, the train leaves before the time always.
Another day, another huge buy after hours - £889k and 1,856,944 shares in one go. As stated before, methinks ARCM is reducing short in that way, by buying after hours.