Member Info for NAV_Mike

If you check on current short positions you will see that our favorite sharks AHL Partners have been increasing their short quite aggresively in recent weeks, and they have been joined by Connor Clark Lunn doing the same

If you watch the SETS book, each day bears the hallmark of these vultures selling down the stock. Suggest we wont get a turnround until Brent starts trending up and these parasites have had their fill

I think its more to do with the hedge fund vultures reversing their long bets on oil futures rather than the actual physical market

The whole thing is very ugly casino these days, and I wouldnt mind betting its done on Trump's orders. He was the one 'ordering' OPEC to reduce prices, and this is what we get when they refused

-4.6% on only 750k traded

No wonder the spivs like to pile into this share

Yep - that intra day chart since midday is a giveaway....oh well Brent picking up now, so hopefully we will see some improvement in PMO before long

NAV has jumped to circa 95p with £:$ at 1.32

Whats with the attitude? I was basically agreeing with you in that the algos at work here render analysis and the usual forces of supply and demand irrelvant

1. See above. Also it is being kept within a tight range regardless of improving company fundamentals and a rising price of the commodity it produces. I dont mean uninvestible as in 'crap company' far from it, just very difficult to make a return until these funds change tack. I would guess the spectre of a potential fund raise is hanging over PMO following the ST article

2. That assumes 'most' funds are invested in PMO and then yes the long side bias would probably prevail. However given the higher than average volatility, I think PMO has attracted more of the short funds, albeit probably for hedging strategies against the warrants and other esoteric strategies their computers have come up with

Not sure that the last bit is entirely relevant, but me Im a humble PI whose been at it for 20 years and who has a SETS screen open most of the time. Im no genius, but I guess neither are you

I'd say PMO is currently uninvestible to the average PI - you might scalp a few pence if you are lucky but thats it

The funds and their algos dont want this above 75p so any attempt at upward momentum is met with a flurry of fresh sell orders onto the book. The effect becomes like wading through treacle.

All we can hope for is a change in their strategy, or some piece of excellent corporate news, which might raise us a penny :)

This is all as bent as a nine bob note.....loads of buying today but its all off-book and so doesnt change the headline price. Nearly all the selling is from the DMA crowd who seem keen to get this down to absurd prices.

PMO down 10% TLW down 2.5% all nice and legal

The cheery theory over on ADVFN is that the shorters have their ever increasing positions covered by a big slug of the outstanding warrants. Makes sense to me as they can exercise these at 42p

Drive the price down onto its knees, then load up for the inevitable rebound

Be ironic if yet again part of the refinancing deal was being used against shareholders.....first the CBs now these

Look at that list of after hours trades (no not the UT)

Thats quite unusual....but then everything is at the moment

Agreed

This year has always been about keeping lenders happy and making sure they hit covenant requirements.

Debt of $2.52bn at 31.10. is perfectly fine imho with Babbage and Pakistan sales to hopefully complete in time for year end

Current run rates of 85-90k will also help accelerate the process

Must be thanking Trump for colluding to drive down the price of WTI.....many of them werent making money at $70 so will be interesting to see what happens sub $60

I was expecting to see a plunge in PMO this morning after Brents drop to sub $73, however its almost as if the people in the know realise the current situation is an artificial one created by Trump for the midterms

After all, the oil price plunged $2 in the blink of an eye yesterday on nothing more than Trump (that renowned oil market expert) saying there was enough oil to go round and cover the Iranian loss of supply.

If ever there was an example of a totally corrup oil market, its been the last two to three weeks

Trump wanted the oil price down ahead of the mid-terms and thats what he got

Two on the published list, Marshall Wace and Worldquant have started reducing their positions in the last week

AHL Partners still increasing moderately

Scumbag shorters currently flooding the SETS book with orders to get this to close lower on the day

For no other reason than because they have the power to do so

Same every morning...they give it 15 mins for the price to settle, then switch on the algos - the downward pressure on the SETS book immediately starts

Until we have buyers in sufficient strength to combat this we are erm....screwed

Yep awful headline number....but decent draws on gasoline and distillates

API was off the EIA data last week, so possibly an element of catch up

Go to agree

The pace at which Brent is collapsing smacks of Trump exerting behind the scenes pressure ahead of the US mid-terms

Saudis having to be compliant after been caught out murdering people (again)

I agree, but I think they see a window of opportunity, with the next update from the company being a few weeks away

Markets are shite world-wide and Brent/PMO probably did get over-extended short term at $86 / £1.46

If management plans stay on track, then PMO debt will be investment grade again by Q1 2019, and the price should be a lot higher than it is now. It all depends on your investment time frame, and of course on whether the markets continue to be super jittery