We would love to hear your thoughts about our site and services, please take our survey here.
I think with H1 hedging earnings are going to be rather healthy considering the year to date. So I'm hoping for a rather decent bite taken out of the debt all things considered. I think in reality also, the sp is rather undervalued. That drop at the end of last week was overdone and perhaps only down to Goldman unwinding a rather large position. I felt it was a god of time to strike and glad I did. Good luck tomorrow guys. Here's hoping
What kind of cash they have? Looking at their presentations it didn`t seem like enough for a bid for much of an asset.
Share prices must always bounce 10% off the 50dma, eh?
Hahahahahahahahahahahahahahahaha
Fag packet calcs show it's a good deal. Unless you believe oil is going to stay under world break even prices for the next few years
And why do you think that is?
Really? Regardless of the price of crude?
Hey, I'm long so I'm hoping you're right but you really should be doing some fundamentals on the company and the sector to come to those conclusions.
Production - 23k boe/d - https://www.energyvoice.com/oilandgas/north-sea/215980/breaking-bp-selling-475m-worth-of-north-sea-assets-to-premier-oil/
OPEX for north sea - £11.6/boe or $14.5/boe - https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.ogauthority.co.uk/media/5072/ukcs-operating-costs-a5.pdf&ved=2ahUKEwit-rKj3crqAhWCoFwKHePaBCUQFjAAegQIAhAC&usg=AOvVaw2US-kbRa6BUYTDdTfsQRXf
Taking current price of Brent - OPEX = Earnings/boe = $28.5
That's $239million per year.
What we are paying $240million
Plus we will have to cough up somewhere in the region of $250million for decommissioning.
All in all even at current prices this would be payed for and earning shareholder value with in 2 years
At current POO
"If that’s the case then why did the share price jump on news of the revised BP deal?"
Because the market thinks it's a good deal, which it is. It will return value far greater than the price we are going to pay for it.
You won't learn much from charts. PMO is highly correlated to oil prices. Who'd have thunk, eh?
Brilliant, just shows that shale is really struggling at $40. Very good sign for poo
You said alot of things buddy
I had total revenue for 2020 at $787million at a H2 oil price average of $40(that's looking better now).
OPEX based on last year of $342.8 million.
What did you have for CAPEX in 2020?
Trading update on 13th of may said they have made an estimated $240million of capex and opex saving and deferrals saved.
I'll go back and look at my figures. You have to realise all the hedging was for the first 2 quarters. And a good proportion in the 2nd, which is good
Where did you get the H2 hedging figures?
I see them keeping up debt repayment, capex will have been slashed as much as possible. They are telling us they are cash flow neutral at this price given years start capex. I see them in the green to the tune of 10s of millions rather than the hundreds. Not bad considering the year
Range bound. Brent will be trading between 40-44 until something fundamental changes
Also. $40 floor in Brent, positive trading update next week. All looking good
$500 million would be fantastic. You must be mad if you think we are getting $3 billion. Anyone got any reasonable analysis on this?
Sell basically half of it's oil production which is located in what is basically a tax haven for PMO, at current oil prices. Great idea.
Price of oil. We will get back to $60 next year and you will see were the Share is then
Forzeb, chill man. I'm assuming you bought share rather then a derivative? Then I suggest you sit on them for a year. You will not be disappointed. Next few months may not be great but if you get out now a guarantee you'll miss a big jump