Member Info for shamI89

Regardless of that , whatever way you put company is raising money by issuing new shares at 50% discount, now it is in public knowledge why would anyone buy it now?

Share price is still trading at 190, I would expect it to trade about rights issue price plus or minus 10%.However I did not think that discount would be so deep.

Media attention, but Russian approval would be catalyst.This is not a very liquid share and not popular among private inveators so small volume is needed to move the price. Having said that despite all of its potential and good assets rise last month could be put down to few well known "p&d" merchants on twitter who were pumping it really hard and due to which this share attracted a lot of speculated money which would not have waited longer than a week or more.It looks like most of that money has gone, results are expected to be good as due to surge in metal prices their holding in Poly has increased in value , "women's viagra" as some people call it would be worth a lot on approval.

Anything like current market where everything is down and we dont even know when things would get better.I was not trading during 2007/2008 but saw melt down of 2014/15 but that lasted for only couple of months.I remember Tullow trading over 1000 and I was holding premier when it hit 19 but these bounced right back straight away back then. Corona has cripled global economy and opec cut production to increase price of oil but if demand is not there cuting production wont help .Hopefully after December we will get a clear picture and things would get back to normal.I dont think most countries will impose second lockdown as ecnomical cost would be too much.

results today as I said before it is a leveraged play on prices of oil, breakeven price is $38 and every $5 increase would give company 50-75 millions so right now at today's price company is expecting to generate about 100-150 million , however if price drops further it can reduce free cash flow as well and can lead to debt restructuring.

Problem is every day people buy it thinking it is cheap or has found a "bottom". Rights issue and debt to equity swap would do shareholders no favour lets wait and see!

Dont think equity would fail , it would have some value and should go up after refinancing.

Agree with Happy here, I have seen it happen to a lot of companies, Bod messes up things , shareholders are told to accept dilution in the form of rights issue or face wipe out .In the case of wipe out creditors get their money back , Bod gets to retain the its jobs and shareholders get nothing.People dont understand things here or trying to mislead other , A rights issue has to be carried out at a discount to prevailing share price otherwise nobody would want to take them up as equity would have better value.Secondly if rights dont raise required money, lenders would force debt to equity swap and that would have to be at discount. Problem is these two outcomes could dilute shareholders heavily so why not wait and let company do these and take position after these.

Any Rights issue has to be carried out at a discount to share price, otherwise nobody would wants them and on top of that is that fails to raise money required, lenders would have to impose debt to equity swap.Tony made a huge mistake by not announcing rights issue price ? it was trading around 50 in July and has lost nearly 70% since then.What makes me angry is fact that they are raising money to buy BP assets which were not required.

Lets hope that is the case because if it happens below 15, I am going all in after rights issue.This company would be in much better position and BP assets would expand total production to 100k, company has some other assets too.which are getting developed.

Post refinancing it would be a good company to invest in, but right now too many safer options available.

Premier has some tax credits due to investments in North sea and they use that to offset any tax on north sea production and that is why they are so keen on buying these assets in North sea as due to these tax credits their production is way too cheap.

I reckon it be worth more but at the dispense of shareholders, that is why I am surprised that they decided to buy assets off Bp, despite knowing that they had no money to buy these and are trying to dilute/wipe out shareholders for 573 millions.

Megla after refinancing we would have a company with 100k bopd and they are looking to expand their production rate, however current share holders would be diluted.So if somebody wants to take a position he should do so after recspitalisation.

Nobody had considered 70% fall in their wildest dreams, every $5 increase brings extra 50-75 millions to Tullow!

A $10 drop in oil price would put company in a very tight spot too , that is why I said that oil price would be the key here.

However I do think that company should have consulted its lenders and set a rights issue plan.They presented this half-baked idea to market and let market determine the price.Share price has fallen by 60% since July and nothing seems to be stopping it.

Think Ugandan deal is taking longer then expected, but company is in better position then it peers as it has nothing major to pay yet.If price of oil drops to early 30s then that should impact cash flow. Binary bet from here and outcome would be deteemined by price of oil.

All speculation right now, company would provide an update on its financial strength and that would outline future course of action. It all depends on price of oil as in my opinion company is relying heavily on post corona recovery that should increase global demand of oil.However second wave would bring price of oil down.

money from somewhere, Premier oil is not so keen on San Leon Developement and it has to sort out its own financial mess first. My worry is that that this company would burn through its cash reserves.