CAREFUL31 Oct 2019 10:05
As you know, I sold PMO a few days ago at 83 and it is now trading at that price again. That is a huge surprise to me, as Brent has now crashed down to 60.10 and threatening again to go back into the 50s. This morning both TLW & ENQ are down over 2%, but PMO is still in the Blue. This will be seen by all of you as a hugely positive sign, but for me it could spell disaster. If PMO starts to go down again, it will do so with a vengeance. And if the money from Zama is used to buy assets instead of reducing debt, the unthinkable will happen and the sp could go back into the 50s. What’s more, there is no certainty that Zama will be sold successfully, in this climate of dire oil prices and sentiment