Member Info for oiluser

There were company court proceedings in mexico in december and the end result was a split of the mexico company into block 7 versus other interests such as block 30, its not just the asset in block 7. Its the whole block. Like i said before some lucky purchaser could be getting some other jewels along with zama.

If you listen to the comcast of the early january update a specific question was posed about the proceeds of Zama sale and intended use. TD was quite clear that the proceeds would apply to debt repayment as previously stated and he also implied that the proceeds would come in at approximately what analysts had stated previously. From previous estimates, i think Jeffreys it is 437million, which im sure will be adjusted for cost of sale and tax.

They all gone to tlw, not kidding....

Yup. Counting down to major fu

So, what site are u looking at.

Id say arcm are fighting for their existence at this stage. If this short goes any more pear shaped they will get bludgeoned by the squeeze.

I think the question you are trying to pose is,

Can there possibly be a conspiracy between all 41 lenders with pmo or without pmo so to reduce the sp so these participants can get more dilution and hence make more money at expense of shareholders. Its pretty preposterous really, far too many participants.

Ya couldnt make it up, or could ya. Classic psyops

When all this occurred before pmo notified the market on the position of the debt and they were proved to be validated. This article is yet another attempt to sow doubt.

Look, arcm have played this both ways. They want a reduced SP, so their exposure is less on the short. They also own shares and with the debt come options on the warrants.

Their arguments are less about scuppering the deal and more about reducing the SP. PMO may have blind sided these guys whether intentional or not, but they have themselves to blame with the fact they bet against the company. I believe things started to go wrong when PMO announced the sale of Zama.

PMO have never hidden the fact they were looking at opportunities in NS to avail of the tax breaks that would come with such a move.

On the face of it i think PMO are doing the right thing, this will speed up debt reduction and adds to reserves that are on tap. Decommissioning will be a factor of course, but with brexit around the corner and the UK taking direct control of their environmental obligations a looser decommissioning strategy is in the offing with the conservatives in seat.

I think that moving to a debt ratio of 1 by 2022 is a significant step forward that will allow for a full refinancing in 2022/23 and then theres SL.

Are they?

That about tallies with my best guess of between 300 & 350. I would have hoped we would be placing at or near current level.

All

So what is posters estimation of how many new shares to be issued. Estimated nav of acquisitions is over a billion $.

Hereshopin

Its because he / she is not the sharpest tool in the box.

Dont remember what happened after eon purchase. Classic

Yup, while lots of us made money he was squirming about like a maggot in an empty dust bin

Is the "big bad wolf" at the door

I doubt they will get out of this, otherwise why moan like that for months now. I think that pmo will RNS the required 75%+ figure locked in before long. Bwdik

Think you are wrong MP, simply put company is buying assets. To cover purchase the company will issue shares and some of those will be available to existing shareholders to buy at a rate which wont be much less than current SP. 500million raise and 300million bridging (if required) which im sure is to allow Zama sale time to materialize. So value of asset purchase is approx 850million. I dont see much dilution if any and infact the deleveraging to 1x covenant by 2022 is brilliant. Production by 2024 likely around 130/140kboed

Why do you think that arcm can participate in a RI? Just a question, i thought it would be share holders who will have the option initially.