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Ah ha and like clockwork Happy reappears.
After your early comments lost total credibility and were unfounded, unjustified and simply wrong, its taken you all day to think up your next pile of BS. We all know your modus operandi now - its tedious and boring. Go back the hole whence you came . . .
Amazing watching the trades going through and MM's at work, take it all the way down to 16.6 to fill big buy orders and walk it back up again - amazing but not unexpected
Dont agree Fugu
After lunch i believe we will see increased buying activity again - it will be a little choppy the next week but i think before the prospectus we should be looking somewhere around 20-30p
Longterthinker, its a reverse takeover. C are not currently listed and as such probably one of the main reasons they are buying what Tony had turned into a debt laden entity that nobody wanted and cereditors were goign to hang him out to dry for. PMO does have some attractive assets, i.e. Catcher, Tolmount, Solar and Zama but also a huge debt and was being held to ransom by bond and convertible bond holders. PMO also has huge tax credits that the new entity can benefit from. Overall its a merger / reverse takeover of convenience to both. By Buying PMO, in a reverse take-over, C essentially combines with PMO and becomes PMO in its new form and much larger Mkt Cap. My understanding is that the market lsiting of PMO and its share wont be changed but of course there will be many new shares brought into the equation and as such some see this as massive dilution but it seems that recent global events and economic woes have already discounted the SP to where it is today and it is now retracing its stability. We gain overall from a company that has much larger exposure to II's and investors as it will most likely be in FTSE 100 and yes, i therefore see it being taken like say BP would as part of Hedge Funds portfolios and Pension schemes. Of course it opens the company to much greater scrutiny and hence i am glad Tony will be out the way. He drowned PMO IMO.
The new entity should be competition for the 'big' oilies.
SP, who knows exactly until the prospectus comes through but seeing the buying action over last 2 days its clear some II's already after a slice. Simple maths and logic is being applied here by some i.e taking the market cap of the new entity and then taking into account dilution to 5% of the new entity and you can roughly work out the SP but it is pure guess work at this time - realistically, i think we could see 25-30p relatively quickly if the II activity and interest remains strong. Thereafter its a no brainer that this should take its path northwards, depending upon all the usual macro economic factors and COVID of course.
We are not dissimilar to BP in terms of volume traded, thas a lot of II's taking positions IMO
SK - cant believe your out - what happened?
Aircool - sure thing
Note: take a look at TLW oil, compare market cap, debt, PE, etc and then look at SP's - where should PMO be ?
Aircool - its not just the RNS its the bigger picture. Its the size and possibilities of what the new group will look like.
This is taking PMO from a FTE 350 (sometimes) co to a FTSE 100 company - look at combined market cap, assets, detb, revnue to debt ratio and the list goes on.
Key from the RNS is the creditor approval and this will now happen, i am guessing II's loading up looking at chunky buys not normally seen on mainly PI investment history
Tree shake -
30 in sights
Come on Sauer, you bought with me all the way down, did you sell ?
Will go very soon - i see buys on L2 in 20's already
Big buys going through consistently and lined up nicely on L2
Got to be in it to win it :)
Ah ha Asahi, it is you :):) wondered where you had got to . . . .
Fug Up - that has to be you Sauer right?
Axe - Lets see Bobby. early morning tree shake. You should knwo in the first 30 mins of trade its not the true picture.
Nothing goes up in a straight line, patience will prevail
Axelrod, what are you missing here, we are only 5% of the new entity - look at the bigger picture dear chap
would not be surprised to see 20p today - some profit taking to be expected but we saw that yesterday and it still powered ahead. what is there negative here, sorry i dont see it in the bigger picture.
Tony will be out - yeeeeehaaaaaa
Happy is Sad ! :)
This is still truly undervalued. The rise (IMO) was due to the finalisation of the creditor approval and now II's can jump in. Its exceedingly cheap, whichever way you look at it, even now
I dont see that SP as unrealistic in the near term - lets see what RNS drops first eh