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What’s apaches financial outlook like? Wonder if their ears might prick up

Well boohoo for only getting 70-80% back, **** em, most shareholders will be lucky to get 20-30% back

The creditors will also receive a shareholding of up to 18% in the new group. Factoring this in, the recovery rate for creditors is 75 cents on the dollar.

It’s been a long day and my heads pickled, am I being thick for asking-
What value are they applying to the enlarged group if they can put a price on that 18%? Surely they don’t know what the recovery rate for the creditors is yet because we don’t know the value of the equity?

As SK rightly pointed out, chrysaor are not in a great position themselves with diminishing reserves which usually bring with them decom liabilities.
We have the fresher assets and the huge tax loss’s worth $800m to bring to the table. This deal is not good enough.

I’m still with ya, just trying to find positives and struggling

1.3B ebitda for the combined group in H1 202, so say that was at an average of $40 per barrel? So $50 oil we should be looking at $3B+ a year, tax free. It is a monster of a company then.

Have I got this wrong? I don’t see creditors taking a haircut? Upfront payment of 1.3b was it? Then the rest in shares in the enlarged group?

I have zero faith in TD but I don’t believe they could revise this any further downward than the current proposal put to the market today, especially after its disastrous reaction.

Also we are struggling to stay blue on a very strong day for oil.

I want to add more because although this deal is shocking imo, it has to put a floor on the sp surely? But it’s when to stop throwing good money after bad.
Kenni still think Tony has done a good job?

SK, you still in or binned these?

Exactly, and TD has just sold us out just in time for that, I wouldn’t even be surprised to see covid quieten off now trump has exposed it for what it is, a media hype job! **** me we have been unlucky here I feel

Hereshopin, pretty much the same as mine mate.
I also added I want an explanation as to what we get for issuing 82m shares to pay of arcm short and lock in their profits at our expense?
There will be larger II’s here willing to take legal action about this imo, I think this has a way to go.

I’m not holding my breath though.

To my explanation off pmo in the coming days. I said I don’t any copy and pasted **** sent to every shareholder, I want a explanations for the obvious share price sabotage, arcm bribes, and holding onto the noose that is bp.

That word just makes me laugh. There’s no logic to the stock market and if today isn’t enough proof to not touch it again I don’t know what is. It is a disgrace and I will never invest ever again. I will hold onto my huge loss and hope for 30p-40p one day but I’ll never waste any more time researching another company again.

Pmo would still be fine and probably 3 x current price if total destruction just dropped the Bp deal, if it’s true they have dropped it now I will am livid.

What about the 80m shares issued to arcm to get them on side for BP? That was a total fiddle to close their short for them. Tony is a complete scammer and should be locked up.

I still see this worth 30 p even with this deal as it stands tbh

Thoughts cash?