Member Info for mattwales

PMO is way too high risk. creditors could pull the deal/want better terms leaving shareholders with zilch.

tullow is backed by their banks, pmo had their backing pulled im surprised we're not pulling further away from pmo.

could still pull the deal/want better terms. its still very high risk here till the deal goes through.

to be fair moljen everyone including myself got sucked into the MNH deal and the forward projection of production based on the money PREM stuck in for expanding MNH.

Even around Jan we still had this belief because production had increased from 5k to 10k tons a month as per the RNS i.e MNH was on target for expansion.

It was only when we got the figures around April of no production increase and still 5k tons production per month despite investing over $1million in expansion and despite us being told the earlier figures of 10k production that i and other voiced their realisation MNH was a sham.

We can do nothing about lies in RNS and every bit of newsflow we should be getting like RHA meeting update, MNH quarterly dividends , the recent gold assay results and an EPO signoff i still think will come in probably next summer.

PREM has no cash take us down the gold route we will need $1m+ so nothing will happen till EPO day and beyond but all IMHO.

sunda, the difference is Tullow has the support of its creditors re the latest RBL redetermination that went through earlier this week. Premier lost that support.

while i can see an overhang situation on up to 20 times the number of shares coming in existence 3p would value it way too low.

You cant simply use market cap and multiply it by 3.6 times the production rate to come up with your market cap.

its a reverse takeover.....you will get nothing for your stake but you get to keep it.

they will issue up to 20 times the amount of shares extra when the takeover goes through.

think of it more like a placing but the placing cash goes to creditors.

happy, the risk by lenders has been assessed in the RBL redetermination today.

you forget they still await $500m+ in cash from Uganda.

the company are cutting costs where they can. h2 profits will go into redundancies.

2021 they save another $125m all this will be seen by lenders as key to their viability.

You can be sure the focus will be to continue cost cutting then going for growth to pay down debt as the oil price recovers.

they dont need any cash till july to either pay off the convertibles or refinance.

even at these low prices because they're hedged they are making profits and their cost per barrel will fall another $5 from end of year.

what they have done is legal and above board they just had the capital resources to put the squeeze on.

Scotland state they wont go back into lockdown....the worry of lockdowns everywhere is receeding.

company has given up 95% of the upside in the oil price. its now a less risk/low reward share.

i felt yesterday people dumped here then went into tullow oil to go into a potential high reward share hence why pmo fell and tlw was up 15%.

no one can dress up a turd here its a throw in the towel deal from the CEO, albeit forced by the largest creditor.

i dont know how the deal works are they issuing up to 20 times the shares post takeover?? like a 20:1 rights issue takeover?

to mitigate risk the creditors could forward sell a lot of PMO shares they dont yet have as that asian creditor crew seemed very desperate/determined to get their cash back.

negotiating tactic by trump....he'll want people to have stimulus cheques just in time for election day.

value will be 20 times current market cap if u get 5%.

as hurricane delta intensifies switches off a lot of gulf production.

no real upside for SP from here as anyone looking to get into upside of oil price will go into gkp, genel, tullow etc.

hereshopin the 5.45% is not a definate and a maximum and could be revised down to 0% and probably why people took whatever they could at 17p earlier today. Not to say it will revised but its too high risk to say it wont be.

people piled out on the high this morning into the likes of tullow oil as premier oils takeover has derisked the rest of the oil sector. also people piling out on the realisation that 5.4% of an enlarged company is a bad deal.

the PMO takeover removed uncertainty from the oil industry = shorts closing/people buying in

is what everyone is buying into as a worse case scenerio.

also anyone thinking of buying PMO piling into here.

from uncertainty in the industry re: premier oil.

tullow has debt but could be similarly taken over scenerio if the **** hit the fan.