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I agree with much of this, JTD.
A hands-on energetic, COO, based in region and who is an exec director is needed.
And replacing the CFO with someone who adds more operational and investor know-how (and, smaller issue, doesn’t cock-up the accounts every year).
Come on, Mr Clarke, this stuff is your job.
Are you sure ColonelDrake?
On the Major institution page they were showing 25.2m shares at March 31st. I have no record of them appearing in the Selling list prior to this month either. Unless I have a made a cut and paste error, they sold in April.
Thanks for posting this, stockable. I hope that JW can talk, diplomatically, on these issues at the AGM.
that's the way we like to ... invest. Bought back into the little dip half an hour ago, I know I'll regret it, hopefully not the start of a bigger dip, didn't print on level 2, so games still going on here I guess
IMO it's a disgrace that the BoD simply appear to continue to feather their nests with superb benefits packages and have freedom to engage in other outside business interests (and do) whilst shareholders suffer major losses, they don't seem to care.
They can produce as many presentations as they like showing value creation but the truth is they've presided over horrendous value destruction for shareholders, by the only measure that actually matters, that's the SP.
II's must buy based on promises/projections and those have not been fulfilled, by any stretch of the imagination operation performance has been pathetic at best, unlike Pi's they will not be bamboozled by a new set of impressive targets every year
.
This was supposed to be an exciting year not a painful repeat of last year. I really hope they don't buy anything else as they seem incapable of operating the blocks they've got efficiently.
Whatever your viewpoint I'm sure everyone can see that something need to be done to change the course we're on, they are our employees entrusted with looking after our investment and they have decimated it for many of us. They have the power but choose to ignore the problem. IMO
Looks like Capital Research and Management sold their entire holding in April - 25.2m shares.
https://www.theguardian.com/business/2018/oct/12/oil-price-barrel-markets-iran-sanctions
Maybe we all need a fresh dip.
Surely news coming soon?
I'm interested in this share, anyone know how much oil we ate talking about, 209 feet net oil column is massive Amerisur has recently announced a potentially transformational result at Indico-1, which significantly exceeded expectations - 283 feet gross, 209 feet net oil column without an oil-water-contact.
I don't have a crystal ball and am no expert either. Just gut feel and opinion.
I would suspect this will test the 9.9p low again this year the way things are going. It's obvious the BOD are way out of favour with the market , the market doesn't believe a word they say and sadly as a shareholder neither do I. If the holes don't get drilled as promised I would expect further pressure on the SP, and the holes promised to being drilled don't appear to be happening. So short term it is just constant downward pressure , does this stock price ever finish blue? If and when it does it gets chipped away like the 3.5% has from last week. Hold is my current plan , I certainly have no confidence to add.
Has anyone seen one of these, cos i havent
https://thepolicytimes.com/india-and-china-in-collaboration-for-an-oil-buyers-club/
If there is oil under the ground then China is rather good at establishing "order and infrastructure" above ground as seen in Africa. Not sure the Americans will like China getting involved in Colombian Oil but India already in country so who knows what 2019 might bring?
If production were up to 10,000 bopd then that might attract some major interest, just a matter of finding it!
Blimey: you’re lower than me, even! I hope (and expect) we’ll move north once a bit more success at the drill bit comes through, workover.
This article may be only a snapshot but it does seem to give an idea of the problems that the BOD have faced over many years. Basically, it operates in a dangerous and volatile area.
As I have mentioned before, my doubts about Amerisur are not related to what's beneath the ground but surround the issues above it. And that's where reality meets geology. The article presents a difficult and fluid operating environment.
In fairness, many resource companies are based in not dissimilar areas. But it may go some way to explain why the company has never really achieved its potential for shareholders. Simply "Getting on with it" may not be as simple or straightforward as some investors believe it to be.
https://colombiareports.com/indigenous-injured-as-clashes-with-police-flare-up-in-southern-colombia/
I’m going for 11.4p
Oil is at 6 month highs ! Imagine what our pet poodle will do if oil retreats!
I wish I never heard of this dog!
This is very significant in my view. Think others have stated before, but as soon as seismic and some success in South we'll be taken over by Oxy. Maybe cpo5 sold off as part of the process Hope the share price is allowed to run up to a fair price in the next year or so otherwise will be lowball take over.
HOUSTON, April 30, 2019 (GLOBE NEWSWIRE) -- Occidental Petroleum Corporation (“Occidental” or “the Company”) (NYSE: OXY) announced today that, in connection with the financing of Occidental’s proposal to acquire Anadarko Petroleum Corporation (“Anadarko”) (NYSE: APC), Berkshire Hathaway, Inc. has committed to invest a total of $10 billion in Occidental. The investment is contingent upon Occidental entering into and completing its proposed acquisition of Anadarko.
Berkshire Hathaway will receive 100,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share, together with a warrant to purchase up to 80.0 million shares of Occidental common stock at an exercise price of $62.50 per share. The preferred stock will accrue dividends at 8% per annum (or with respect to dividends that are accrued and unpaid, 9%).
On April 24, Occidental made a proposal to acquire Anadarko for $76.00 per share, comprised of $38.00 in cash and 0.6094 shares of Occidental common stock per Anadarko share. On April 29, Anadarko announced that its Board of Directors had determined that the proposal from Occidental could reasonably be expected to result in a Superior Proposal under its existing merger agreement and that it would engage with Occidental.
“We have long believed that Occidental is uniquely positioned to generate compelling value from Anadarko’s highly complementary asset portfolio. We are thrilled to have Berkshire Hathaway’s financial support of this exciting opportunity,” said Vicki Hollub, President and Chief Executive Officer of Occidental. “We look forward to engaging with Anadarko’s Board of Directors to deliver this superior transaction to our respective shareholders.”
The preferred stock to be issued to Berkshire Hathaway will be redeemable for cash (in whole or in part) at the option of Occidental commencing on the tenth anniversary of issuance at a redemption price equal to 105% of the liquidation preference plus accumulated and unpaid dividends, if any. The preferred stock will also be mandatorily redeemable for cash (in whole or in part) upon certain specified capital return events. Dividends will be paid in cash or, at Occidental’s option, in shares of Occidental common stock. The warrant to be issued with the preferred stock may be exercised in whole or in part and from time to time, until one year after the redemption of the preferred stock.
The preferred stock and the warrant are being issued and sold in a private offering.
...immediately before the powerpoint for the AGM is released.
I'm going for 11.90p bid.
(...we may was well have a bit of sang froid fun...)
at 13.1429p. Couldn't resist, but that me as already overweight here
@BBN - ah, my bad. i see the 28 days now. you were right. i was wrong.
Am convinced base Platanillo production levels 3-4k originally advised was deliberately cautious as always risk with any well interventions. We can do little other than to assume daily throughput is now benefiting from the w/o completions as shared in the last ops update. Plat Infill well spud news within a fortnight IMO and announcing OBA throughput at 4-5k. If production is solid from this untapped zone at Pad3N, we could see 4-5k pb (perhaps upwards) comfortably sustained from Plat this year and well into next.
Figures for platanillo going to be a bit choppy if they are taking wells offline while they workover. Then followed by boost as increased production comes online. is what's I'd logically expect to see. Not a big fan of these figures as can be used to manipulate and lack clarity. Some minor use for longer overall trend I suppose. Drill bit progress, rigs and 3rd party more important imho. I would expect some good news before AGM in whatever form as a sweeter ahead of the meeting