Member Info for Muchaboutmoney

Agree Marunam.

Why push Zama and be dependent on partners and an unstable Mexican political establishment when you can have full control over Sealion and the giant follow on of Isobel in a British protectorate that makes up 43% of your proven 2c reserves.

Oh and with all the preparatory work now complete and ready to go?

No brainer for me. The world has changed overnight .......

A week ago I had made the decision that Ombrina Mare would be my ace card to get out of here after 7 long years with a small loss.

However the news yesterday is for me a huge game changer and makes these incredibly cheap and the prospects probably better than at any time since Sealion ws discovered and appraised.

Not normally one to average down but I'm in for another tranche tomorrow.

If I was willing to buy 110k shares at an average of 35p shares with Premier at the helm, I am certainly happy to pay 7p with the new entity in control and financed and the OM award almost certain to come by Christmas.

Reignites Falkland oil hopes
Joint venture partner Rockhopper saw its shares shoot 34% higher in Tuesday’s early deals, as enduring investor hopes for Falkland oil fields found a spark.

Premier is the lead stakeholder in the Sea Lion field but the project has been stalling in recent years as the company waited to secure a farm-out partnership and project financing.

https://www.proactiveinvestors.co.uk/companies/news/930805/premier-oil-what-does-transformational-chrysaor-merger-mean-for-the-new-company-and-its-old-shareholders-930805.html

‘Evidently, the merger could mean that the company has the wherewithal to clear the funding bottleneck for the Falklands – at least that’s what speculators jumping into Rockhopper may reckon’

Worth a read re Premier and references to RKH.
As we all know, the oil price needs to be in the 50s to make Sealion feasible but plenty of time for oil markets to recover as demand recovers and people realise that a large amount of supply is no longer online https://www.malcysblog.com/2020/10/oil-price-premier-solo-bpc/

This will open at above 8p tomorrow.

Absolute bargain given what has occurred today

Hey LTT,

Good thanks and all the better for today's news. I trust you are too?

Good to catch up. I haven't been posting as there has been nothing to say or do until something gave. The Falkland asset isn't going to go away and is attached to us whether it be sold on or developed.

Make no mistake, today is a huge day. Chuck in £150m from Ombrina Mare and the forties will be back in sight without question. Can't see this deal falling through. It's Premier's only option and fortunately they take all the pain whilst we are left unscathed.

Much

Great post LTT .. my sentiments exactly

No ... Premier have always recognised the value of Sealion and Isobel and desperately wanted to develop it hence the huge amount spent in getting it ready.

Problem was always the £1.6bn required to develop it for a debt laden company.

With OM iminent and Premier now part of a large company with the means to invest and Navitas on board, it could be an interesting end to the year.

I believe a Brexit deal will be done and we'll have a covid vaccination by jan 2021 and with that a return to economic growth. Shale is dead and no money has gone into new oil field development so expect the oil market to go into a swift recovery in 2021 as demand rises and supply falls.

Had almost given up here but the dream well and truly remains intact.

This time next year Rodney .......

Agree

The lack of information around OM having stated that it would be Q1 is simply not good enough.

Anything over £100m puts us in an excellent position for a recovery in the oil market and sanctioning of Sealion in 2021

No absolutely not. They are effectively financing these losses through existing cashflow, have tier 1 capital of 14.6% v 7% in 2007 and are still sitting on £2.6bn of dividends that haven't been distributed from last year.

So long as the recovery is coming, Lloyds could be an absolute bargain at these prices with a 300% upside. Imagine a share buy back at these prices and what it would do if it commenced in 2021.....

Hey Falkland. Good to see you in here too.

Looks like an absolute bargain. I see near 100% upside here and a yield of 10% once dividends resume. The banks have managed to lend tremendous amounts to businesses with the loans underwritten bythe government.

I believe the bounce back will be quite spectacular as people can’t go on holiday and haven’t spent much for months. Also a furloughed worker who has taken a repayment holiday on this mortgage will actually be better off than if none of this had happened.

I think in 18 months time Lloyds will have done very well out of all this.

My target is 100k shares in here to match the Rockhopper holding.

Much

Hey Surfit,

Good to catch up. I’ve just been quiet focused on other stuff. My father sadly passed away a month ago and coming in here and looking at my portfolio which is also made up of a big Lloyds holding is frankly depressing. Corona has been an absolute disaster for all my holdings. Oil and Banks! WTF!

Good to see the board taking action this morning. That’s much more like it.

OM would provide some welcome relief, hope and time.

Much

Hey Surfit,

These shares are the partnership shares which the employees are able to purchase out of their tax free salary each month up to £1800 a year.

https://www.gov.uk/tax-employee-share-schemes/share-incentive-plans-sips

In terms of RKH, this has turned into a debacle with everything that could possibly bgo wrong, going wrong. Whilst the board have managed to take every wrong turn possible, no one would have imagined that oil would be at $30 and demand through the floor following a pandemic.

One of the things that made this investable to me was that if everything went wrong, the Ombrina Mare claim was always going to be worth in the region of 35p a share and provide a lifeline.

What I don’t understand is why it is now taking so much time and the Board don’t seem to have any information to share re timescales.

The whole thing has become a complete farce and incredibly disappointing but whilst there in OM there is hope!

Thanks Psych.

So did they go into any detail and provide envisaged timescales?

The view from RKH and co has always been H1 this year so do we know what has changed given what you have shared?

Hey Psych...... where did you gain this information from please? My understanding was that the 120 day period commenced from the 4th Feb?

Surprised no mention of Ombrina Mare or a possible date.

I know you were Gozzie. ??Just didn’t want your humour to deflect from the point.

Yes I read this earlier and the guy’s got a point with many stocks but not here and not if there is cash on the balance sheet.

Take a company like Lloyds Bank and there is huge value and a massive dividend yield. That ain’t no Ponzi scheme. Just a once in a lifetime value opportunity which is why I have snapped up 95k of them

Hand it in is exactly what I would do.

However ownership doesn’t effect its inherent value which is what I have asked of Barnyard, so the question stands......

Simple question for you Barnyards. Hopefully you won’t need a calculator for this.

If you find a wallet on the ground and its worth £2 in terms of the value of the wallet, what is it’s value if it has £40 in cash in it when you pick it up?

By way of a clue, it’s the answer to life, the universe and everything.......

Much

Totally agree Bluebelly.

The crash is throwing up some huge opportunities and non sensical situations.

I can see us getting down to 2p and I’ll seek to pick up 50k shares if it does.

Any good Ombrina Mare news and this will head straight to 40p based on cash in bank and give a £15k instant profit.

If it doesn’t re-rate then the board may as well use £50m to buy back and cancel a load of shares ......... and leave us with a smaller float.