Member Info for Thunder2040

For anyone that follows the cycle, Q2 is historically very strong for oil price - I am hoping that Trump doesn't deal us a curve ball but expect he will either with the sanctions or trade deal. If he plays ball and the market tightens, I agree with MRD, oil should go to $75.

Hi Chilting. What changes after the shutdown? Do you expect that to be the time operation fixes are implemented for is there something more concrete in terms of work scope? I was watching the presentation yesterday - I was slightly concerned by analysts attitude towards Kraken and especially the water cut - some of them really questioned a lot of what was said about Kraken.

We are going to have a China US trade deal...oil will go into orbit and this will fly up through 20p -30p range. Now is the time to take your positions...

I think they are being conservative...upside mentioned frequently in presentation. As long as thus remains a cash cow for 2 or 3 years I will be happy.

So with 19 or so wells being drilled in 2019 - what are fellow holders views on any production upgrades? Or are we drilling like crazy just to stay afloat of things production wise. The 10% increase forecast seemed fairly modest to me.

You forgot the inevitable placing there Hawkey...

I have topped up on this morning's dip. It could be a case of fools rush in, but I think after yesterday results, from my interpretation the near term liquidity risk has been answered - I am expecting this to continue a move up past 20 when POO finds its feet.

Is in short supply...surely recent global supply reductions of heavy help enquest more than their peers.

Actually did something similar with full conviction...Enquest results very good. Hope both PMO and Enquest do well but feel enquest still more undervalued.

Current ratio 0.7. Would be nice to get this above 1 gor my piece pf mind but it's moving in the right direction. Those results look very good to me, especially the production which is what will drive the cash generation and debt reduction... expect this could fly back up.

Does anyone know how production decline could impact near term cash...what is headroom like?

The key things people have commented on in the accounts are the intangibles - which is mostly goodwill on the Ladbrokes/Coral aqui. and the acquired brand. Did they over pay? Who knows, but its fairly normal to have high intangibles in highly acquisitive businesses. Writedowns on this in future years, if they transpire, are non cash impacting.

Other things on the balance sheet worth a mention that someone else alluded to was the current ratio <1. No doubt there is phase now where they have to just throw out cash and pay off the debt.

I question why some people didn't voice these opinions immediately after results were published - I think you can always find things to question if you have a bearish stance. The results were received well by the market as well as brokers. If you want to infer something from the Dir share sales - i.e the integrity of the numbers or reality of the forecast then that is fine, but to suddenly read the accounts a totally different way is not balanced IMO.

You buy stocks when they are cheap or mispriced by the market.

Time will tell if that is the case here.

GL

Gone long here. There is a provision in for store closures already. They are small high street stores, it's not debs with huge department stores. Majority of profit is from online not the shops.

Biggest uncertainty is the growth in the US. But they are in with a respected player in MGM.

Geographically well diversified and decent dividend. Also a resilient sector in any downturn.

If I had share options I would probably sell them after a good set of results....or should we expect management to hold forever.

This is about to bounce hard imo. Totally overdone

My reason for selling out yesterday. GL

Another article in the Times today (online) mentioning Apache may also be looking to exit the North Sea. Has production of 63,000bpd and owns old BP/Mobil assets.

The article also states:

'Private equity firm Chrysaor is thought to be in pole position to snap up about $1.5bn (£1.1bn) of North Sea assets from Chevron'

There are a lot of assets coming into the market, which should be good for buyers as it could force the price down - looks likely that Premier will snap up some assets now IMO - just hope its on fair terms and the shareholders' interests both short and long term are prioritised.

Good in 1 or 2 years or good in 5 or 10? Matters to me.

All just my humble Opinion - no facts here: I think it will involve dilutive convertible loan notes at a guess - suppressed share price no coincidence - as I bet exercise price will be pegged against pre deal VWAP. They can limit the debt going on the balance sheet a bit with that financing Just not that excited by this news. PMO was doing fine with its initial plan to pay down debt, it has other capital projects to concentrate on. This potential deal has not helped us in the slightest so far.

Questionable source lads.

Chin up member. You are not the only one who's patience is tested by the GS games. Sorry to see you sell but welcome back anytime.