Member Info for pauldrayton

When you're sober, laugh
Sometimes you gotta take a chance to break through
And when the world is not enough
That's what gives you everything or breaks you
Feeling empty, feeling used
It's like we're running off fumes
A little broken, confused
But one thing I know for sure......

"Patience, like a fat cat waiting for a mouse."

I agree with this, and am pleased in many ways that they have taken their time. They know exactly what they want and are prepared to wait to get it. Best to get off on the right foot - the first deal will shape the future.

They seem pretty confident that more M&A activity will be happening over the next few months, and they are positioning themselves to take advantage.

The Nick Ingrassia addition is an interesting one, I think we might see them enter the UK North Sea and the Norwegian this year.

Yes of course Chanceman!

I’m not saying I expected anything else, in fact that was exactly what I expected to see if you look at my post yesterday. I just think the way it was worded may cause some people to sell - looks like I might be right so far this morning.

Personally I think they are closer than they are able to say so I’m happy to hold.

It wouldn’t surprise me to see a bit of selling on that RNS given its wording. It certainly didn’t hint that they were very close to anything, but I think they are probably limited in what they can say and may be naturally cautious anyway given what happened earlier in the year.

I do think they will be doing a lot of work behind the scenes though and probably have discussions ongoing for a number of opportunities. I would expect to see a deal or two being done before Christmas, but that’s just a hunch. I suspect they are closer than they are letting on.

Yes there is rarely anything new in a Results RNS.

Just waffle about leveraging opportunities, ongoing discussions and expecting increased activity later in the year would be my guess.

What price did you get munch?

Yes a few being snaffled this morning which is a change! Nice to see though, let’s see what happens through the afternoon.

Indeed if they can emulate Rockrose we will all be very happy. It’s all been quiet since IPO except for that brief spurt in June although I’m sure they must be doing something!

I also wonder if they are looking at the Bleo Holm and Blake/Tain/Serenity. Repsol Sinopec might be willing sellers and there might have been a delay with Rockrose selling to Viaro. I3E have suggested they have been in talks with one party for while too. Would give existing production with upside potential in Tain/Serenity/Liberator.

Having said that daveri (is he still invested?) seemed to suggest the deals were over in Norway rather than UK North Sea.

Still too much uncertainty with HUR. No way imo.

Seriously doubt they are interested in HUR! And certainly not at 6p+!!

Chrysaor will be after the tax credits too. I think he would probably have to state that at the current time the offer is not better for stakeholders. Both so as not to mislead the market and also to signal to Chrysaor. But he does make clear that talks are continuing. A deal would not surprise me.

PMO/Chrysaor would be a good strategic fit.

I think more may come from this one way or another.

Possible merger with Chrysaor. Would be a good outcome I feel.

Spot on Nico, couldn’t agree more. Much prefer a BoD that say nothing rather than ramp away constantly. The Board are confident in their approach, so it’s up to investors to either trust them or not. I’m hopeful that the events of this year have played into their hands - I do think their financial backers will be more reticent than they were at the IPO but fingers crossed they can still get the funding they need. If they can then I’m confident in the team they have.

Nick Ingrassia Core Focus:

Equity raising (public & private)
Debt structuring (RBL, mezzanine)
Financial modelling
Public M&A (UK Takeover Code)
Asset divestitures
New Ventures & Country Entry
Investor relations
Public relations

Well spotted Whirlaw. Let’s hope they have a business to develop soon!!

Still working on taxes for oil contractors:

https://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/448-26-august-2020/2806-113-20p-schedule-6-withholding-taxes-for-oil-contractors-responding-to-the-consultation

Big draw in gasoline is the silver lining