Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Who do you thinks a shorter? I can categorically tell you I’m not and would be very happy to have to prove that in a court of law.
Go on punk, make my day.
You should have a look what Paul Curtis aka GHHGHH thinks of this over on ADVFN. He’s a bond holder and thinks they will get most upside with equity perhaps getting 4p in any M&A as any bid will be paper due to current debt.
Remember PMO shareholders got 24% of PMO today and they had £150m market cap and $2.7 billion debt.
His view is equity could get 4p Andy bondholders 70c when the bonds are trading at 30c
The ****eer hardly touched the sides lol.
Seriously how much capex to install the gas pipeline?
How much capex to tie in Lincoln?
Then look at Lincoln reservoir properties:
4700bopd on natural flow
Fault zones 50% of those found on Lancaster
Poor PI
Sub commercial as a stand-alone development
Would be high risk due production being poor if Fault zones are poorly connected as suggest by lack of mud loss
LIncolns only likely to work as a tie in to a successful Lancaster development.
It should be. Now 42 days since the last off take.
Assuming 6 days downtime in September, 95% facilities uptime and guidance of 12k to 14k we are at the following figures:
12k bopd 410400 barrels
14k bopd 478800 barrels
Average off take in H1 was 387000 barrels.
Is no one else questioning why the next tanker hasn’t arrived? What was the Skandi Hera up to? Has there been interruptions due to weather?
By than analogy the debt is worth -10p per share so net -5p before factoring in any capex and other liabilities.
Note it’s a D4E for PMO equity as they get upto 5.45% but bond holders get upto 17.55%
So a large haircut for PMO shareholders
Today is day 42 since the last off take. In H1 they did 7 off takes with an average load of 387k
So Captain do you really think they spent 7 days not producing after the last off take before taking 6 days downtime?
Think what you like but ngms27 is no shorter. Just a savvy investor or told you it was probable Trice was wrong and could have saved you a few pennies, like I did for myself.
Well early? What a joke. There’s now been 35 days production including allowing for the 6 days downtime.
Last RNS they were producing 14.8k bopd so allowing for another couple of day if you are right that’s 37 days at 14.8k = 547k allowing for 95% uptime that’s still 520k
So we are either looking at the largest offtake ever or production has been well below the September start up rate.
Houston do we have a problem?
Other people’s think there’s unusual activity round the AM and maybe they have a problem?
Any ship watchers out there who care to comment as I have no opinion either way having not been watching the shipping
Well there have been 32 days since the last takeoff discounting for the 6 days of maintenance.
They were producing at 14.8k on the 11th.
Assuming that same rate throughout the AM would have 470k. Even allowing for 95% uptime that’s 450k
Given no tankers currently on the way either the next takeoff will be the biggest ever or they have been producing at less than 14.8k
Water cut increasing more than they dared hope for?
Sub commercial January is my current extrapolation but the next data point and any material increase in Poo will require revision of that estimate.
It's not going to Lancaster, it's going to Cromarty.
So has production slowed hence no tanker this weekend?
I was trying to visualise That!
Where's your tanker gone?
Far far away
Seriously shouldnt one be coming anytime now if they are producing close to 15k
Absolutely nailed it RNSTranslater. Couldn’t have put it better myself ;)
The names Bond, Convertible Bond. Licensed to kill equity.
Why? If they meet the lower end of the production. forecast then they will be loss making @ $40 in either December or January with any successful intervention at least 6 months away.
I think the markets found fair value for now until further production trends are published.
Unfortunately it’s my personal belief that Well 7z is now as dead as the Dodo and Well 6 will join it in H1 2021.
Please do your own research I could be wrong
PlantedHBA, I’m very confident Big Tony is going to give you the good news in the next few months.