Member Info for MrEMC2

Hold on a minute - 2 days ago it was reported

"Goldman sees oil rising toward $70, says demand forecasts are too gloomy

Goldman Sachs sees Brent crude prices peaking at $67.50 a barrel in the second quarter of the year.
Brent is struggling to break through $64 a barrel following a sharp oil price pullback at the end of 2018.

Back to the PMO conspiracy theories!!!

I missed this

"Goldman Sachs downgraded its oil price forecasts for 2019, citing a surge in global production and surprisingly resilient U.S. shale growth. The investment bank now expects international benchmark Brent crude to average $62.50 a barrel this year, down from a previous forecast of $70.7 Jan 2019"

Is this the main reason why G S is hammering PMO or is there some other hidden agenda? And of course they would have started selling/ shorting well before publishing the downgrade forecast.

"As part of its commitment to restoring shareholder value, the Board will waive its entitlement to receive remuneration until such a time as it is able to successfully conclude a transaction which will provide our shareholders with an opportunity to restore value from their investment in Concha. We will of course keep all shareholders informed, via updates to our website as appropriate.

For further information, please contact:
Chris Akers, Chairman
Chris.akers@srgplc.com"

Nothing new on the Concha website since October 2018.

I bought in June 2015 at 70p still waiting for it to recover to 400p. Ah well they promise jam tomorrow.

rocketing.

for me that is an 8.50p rise in the bid price for the week. I'll take that given that last Friday I was thinking we would fall to 59p!

5 minutes to go can it finish above 77p

5 minutes to go can it finish above 76p

Can't even hold 77p. In case you think my forecasting for Friday Club is pathetic too you're right but glad to be wrong.

Thanks for your explanation about the warrants. So if it is to the benefit of the company to keep the share price low ah ha it is little wonder that Tony Durrant did not rule out a rights issue in the RSN about speculation on the Chevron assets.

Hmm I see conspiracy theories now!!!

I'm confused - RNS of 1st Feb 2019 states:

To date, the Company has allotted 29,053,586 Ordinary Shares as a result of the exercise of equity warrants, representing 3.56 per cent of the Company's enlarged share capital.

As at 31 January 2019, 13,823,064 warrants have been exercised on a cashless basis and a further 24,990,690 warrants have been exercised in cash.

So how many warrants and shares left to be issued???

Who owns the warrants and could this be a reason why the price is being kept down ie so they can get more shares for their warrants?

From PMO website:

"How many shares could be issued as a result of the outstanding equity warrants?

Equity warrant holders are able to convert the warrants into equity at the current share price net of the warrant price of 41.8 pence. There are currently c.50 million equity warrants outstanding which, at a share price of approximately 70 pence, equates to approximately 25 million new shares that would be issued".

I'm not so sure. 13-14th December was supposed to be the best time to buy but the price went a lot lower; Early January was supposed to be the best time to sell for a profit but it was not. So far pmo is not following previous years patterns! However, I hope you are right and we get to 120p before the summer.

PMO closed at 73.95 up 2.64% - pathetic could not even keep above 74p.

The most immediate issue is can we get above 75p and stay there!

Then why did they let us go to 140p in the first place

Because Tony Durrant said "the acquisition of such assets would be financed" - where is he going to get the money? Sell assets, increase debt or rights issue.

Imagine if the share price was 140p then the prospect of a rights issue would be towards 100%

I am still worried that 'they' are trying to get the price down to 59p which would be very bad for me but I cannot afford to take the risk of selling because many people think that PMO is going to double sometime during 2019.

I am still worried that 'they' are trying to get the price down to 50p which would be very bad for me but I cannot afford to take the risk or selling because many people think that PMO is going to double sometime during 2019.