Member Info for Krakenoil

Might see a big move up or down this afternoon

This is what’s driving the volatility today.



The Transaction remains subject to, amongst other things, formal approval by the Company's creditors and sanction by the Scottish Court of the Scottish restructuring plans in respect of the Company and Premier Oil UK Limited. The Scottish convening hearing is expected to take place on 25 January 2021, with the creditor vote expected on 22 February 2021. As previously announced, the requisite level of Premier's creditors have irrevocably undertaken to vote in favour of the restructuring plans.

So what's driving this sell off or are the short side driving down the price again

-5.8% Lol

Rookie - Are you insane ?
We aren't floated on the US market, he will most likely limit shales funding availabilities so that will stick a knife in some shale also if you look at the timing of the increased shorts, some have been building positions from the beginning of Q4 2020 as the SP was low, I dont understand that unless that was used to keep the prices low to build a long position, strange !

Same story every time, the slightest drop in oil prices and Enq comes crashing down.

Morning Romaron, the trouble is we know what’s coming and so do Opec, that’s why that kind word of warning was issued to them not to increase too fast, will they listen, not a chance.
US production will climb fast again as we’ve seen in the past.
They seem to be able to overcome ever obstacle

Here we go +18 - idiots

Still haven't got my 13p top up :-(

PYU - When you say you cannot predict oil prices, 2 of my close friends trade oil for a living both live in massive properties and drive expensive cars, that tells me a different story. What you should be saying is none of us idiots on here can predict oil prices, if we could I doubt we’d be on here and secondly I doubt we’d hold oil stocks anyway

It’s happening now

Come on guys panic panic I'm after 13p or even better sub 13p - Juicy top up please

Brent for some reason is dropping fast, something as spooked the market.

That's not for the short position they hold, that in exchange for the debt they hold.

What I will say is ARCM will have to reduce their exposure here at some point before this is suspended.

Some of the posts on here are laughable, cringeworthy in fact.

Come on lads panic sell the lot please, I want more cheap stock as much as I can get.
13p would be bloody lovely, you never know but might even surprise the old bird with 30 seconds of my very best moves....if she's lucky enough.

If this was a problem then it would have been jumped all over by the press and the deal wouldn't have gone this far. So basically there is no problem

Roughly speaking 60% higher than todays closing share price

Jennifer - Thats 35p per share not 32p