Member Info for Megla

Until you’re back in of course, then you’ll be ramping like there’s no tomorrow, it’s utterly pathetic.

No ones interested laidback.

Absolutely nothing based on the quality of your posts.

IR have said it’s false unfortunately. Not to say it won’t come though, companies will need to book reserves for the longer term once this is all over.

https://ugbusiness.com/9091/uganda-and-oil-companies-reach-deal-on-tullow-farm-down/amp?__twitter_impression=true

Would be great, but better to wait for the right person. Whoever it is needs to be well respected in the industry to ensure we get the right deals for both Uganda and Kenya.

Laidback, it’s great that you’re trying to make a few bob by trading this, but maybe stop with the position posting, you’re making yourself look like that idiot BTFATH1.

The CEO announcement would be good at some point over the next couple of days, hopefully push us into a new bracket.

Sorry, that should read PMO not tullow, mixing up companies.

How do you expect Tullow to avoid breaching covenants at some point this year with oil and gas prices so low? I’ve been having a loom recently and concerned if they do breach, creditors like ARCM will make life very difficult if you’re invested in the equity.

Also keen to hear what people think will happen with the BP acquisition? A placing would be incredibly dilutive at the current share price.

40% a day for the rest of the week would do me, followed a huge RNS on Monday about a CEO appointment and $1bln in asset sales.

Do you have a link?

Has anyone worked out at what average commodity prices PMO breaches covenants? Would obviously have to include the impact of current hedging? Slightly lazy post, but was hoping someone had already done the work?

Sorry, wrong board.

Has anyone worked out at what average commodity prices PMO breaches covenants? Would obviously have to include the impact of current hedging? Slightly lazy post, but was hoping someone had already done the work?

My hunch is something is agreed in the background and the market has a whiff of it

Takeover rumours?
Or just coming off a ridiculously low base?

Crazy price action, long may it continue.

Crunch time comes well before the bond repayment date, generally have to have a plan a year before maturity or equity gets fried in anticipation of a default.

Rubbish article though, everyone’s aware of the pressure on the balance sheet, hence the need to sell assets. Probably got caught short.

Good points Piper, but then the US does have the likes of Exxon that are pushing back against making any cuts. Their position is obviously opportunist, prices drop, companies fail, they pick up the best assets for peanuts on the dollar and they make a fortune when oil does go back up.

The second concern for me is how would the US actually implement any cuts?! These are public and private companies, not sure who agrees to a number and how this number will be shared out?!

My own view is simple, if the US cut the rest of the world will, if they don’t then likely everyone man for themselves. Interesting week ahead.