Member Info for Krakenoil

Blade sadly that’s true but at least the oil price is climbing and our 5% equity is going up in value so maybe the new company will be worth £10billion with Brent in the mid 70’s gives us double of what we are valued today.

Stevo - The creditors haven’t voted yet, anything can happen, the shares are still there on the open market. Nothing is final until it’s signed off. There is a possibility of a twist.

Great day everyone, more of the same please
We will have our party at some stage

Imagine a hostile takeover attempt lol
That would ruin them

Well it finally looks like the short side are throwing in the towel and reducing their exposure. You can only hold back the tide for a certain amount of time.
Lets hope they start panicking
Can you imagine if we have another buyer putting in a better offer - you never know

Brent at 63.7
The last time Brent was this price we were mid 20’s.
Most oillies are badly undervalued

Blimey how long can they hold this down

Gkb - not sure what you mean by lockdown as I’m out and about with work all day and the roads are packed people moving about all over the place. The M25 and all roads going into London are gridlock from 5.30am
The R number is decreasing as immunity takes hold, the vaccine is working but the biggest fact of all is that the schools spread it about and most of the extremely vulnerable have died and the ones that are just below that have already had it and are now over it.
We need to get the country open again next month. The weather will be warmer.

We are lagging behind oil prices and that is because the market doesn't yet see this Covid going away anytime soon, The trigger will be when the government starts allowing things to open back up and that wont be until the Spring End of March fingers crossed. If oil prices hold or rise then I think 20p will come pretty quick.

Shorting has ruined PMO and why the FCA hasn’t done anything about it is also just as bad.
Corruption at its finest

I wonder how much of a kicking oillies will get today ?

Jan, you missed the P.S off the bottom.

He Said see you all in person at the 60p party that I will be hosting at the Ritz Hotel in London, fingers crossed London is out of lockdown by then otherwise it will have to be renamed the 80p party.
Kind Regards AB

This will bounce when they have fleeced the week of their stock

That’s why PMO equity holders will only receive 5.5% of the new company. That 5.5% is worth more currently than when the deal was done. Borrowed stock is not debt and they don’t receive anything other than converted borrowed PMO shares to new company shares, the value of the new company is yet to be finalised.

This happened in 2017 Brent climbed from $44 at the start of September and hit $65 at the end of December but oilies didnt follow it up for some reason then all of a sudden up they went

Stevo - Thats incorrect, the shares are borrowed and will have to be returned weather that be in PMO stock or the new company. the value of the new company will have increased from the day the deal was done, We still own 5.5% of that new company so our 5.5% is also valued more, so the short side are still is a difficult position

The short side is trying to keep the SP depressed until the takeover completes, but now oil prices look to be moving into a period of supply shortages this is throwing a spanner in the works for them, They only have a certain amount of shares to sell into the market but once that comes to an end they will have to start buying them back, they wont have any other option. Unless they are able to borrow more shares - Thats a big gamble and they wont take that risk .
If Brent moves above $62 then this is going to be mayhem I reckon.

I make Romaron spot on calling you funny. He was being polite what he really wanted to say was ‘Clown’

The PMO board also have a village idiot that post complete carp all day long about where oil prices are heading and his favourite words are ‘Be careful’
We also have a bitter twisted village idiot, no prizes for guessing who that is.

Gkb - answer me this will Enquest make a profit out of this deal?