The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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An encouraging sign. It is the offer and I have RB in 2 places and they fixed at 98.45 and 99.075 but whilst talking interest rates this from the Times on Thursday referring to the impact of ESG demands on this industry: "The impact can be seen iin the energy sector, for example, where Goldman Sachs estimate that the cost of capital for hydrocarbon projects is now up to 15 percentage points higher than for renewables developments. That is the equivalent of a global carbon tax of $80 a tonne."
This imo helps explain why we and the whole industry is in the doldrums. A constant undermining and attacks from activists, often supported by an acquiescent media, has priced O&G businesses as though they will be finished in 3-7 years [THEY WON'T]. Sometimes it is easier to go along with it and I had sympathy for van Beurden when he was attacked at Edinburgh by @laurenthesunflower who appears to be about 19, (possibly one of Stanley's crowd-they don't give surnames).
You can understand why Putin and Xi Jinping will probably give COP26 a miss but we'll have Greta, David and the Queen instead.
I think it'll be a talking shop because renewables have had more funding and assistance than the Covid epidemic received yet still cannot compete with fossil fuels. I completely understand why poorer parts of the world and those that were "colonised" might think that it is hypocrisy for the West to take the moral high ground after they have taken all the first mover advantage from the industrial revolution. I also suspect that Biden has more pressing demands and he cannot afford to alienate democrats who quite like the advantages of fossil fuels and the economics (think red wall in UK).
I accept transitioning. I think the demands and pace required by activists is unreasonable and unfundable. Tax the fossil industry more? They'll walk away, close or move to Asia. I expect the US would raise its drawbridges and start fracking again. GE is important to us but the Institutions will wait to post COP26 to see if we are investible again.
*very few journalists at TED in Edinburgh. Very US slanted and many delegates from there. It'd be interesting to know who funded their air fares.
Perhaps only symbolic, as the bond has been bid at 95p plus for about 4 months, but to see the offer so close to par is maybe worth 6 magpies.
Too often we have seen the RB bid in the 30s and this shows how far ENQ has come in the last 12 months. Energy credit is certainly well bid at the moment and there is every possibility of ENQ1 trading above par - an unexpected and in some ways quite bizarre outcome following the pandemic.
Steady progress on the RB has, on many an occasion, helped me to 'hang tough' on the shares
While we wait for the Golden Eagle, I guess we have to make do with gold tinged Magpies
2 Magpies for Joy I think they had their effect on the RB 99.75p today
Hi,
"Seven for a secret never to be told" . About right , not that I believe in the predictive power of Magpie presence.
Anyhow, the E of ESG is real and has to be addressed. Whether you think that is face value or for real is for you to decide.
This is on the company website in case you hadn't noticed:
https://www.enquest.com/environmental-social-and-governance/environmental/environmental-reporting
Well positioned with SVT and Orion project and carbon capture storage licences inevitable.
Anyhow Petroatlantic gone off grid to avoid lilo surfing protestors. Might be in and out undetected before we know it like the invisible man at a heritage dogging site.
GLAXXX
AB will be seeing stars if he don’t give us a good next update lol
AB saw seven!
Don't shoot 2 Magpies Jan - they bring joy!
https://www.youtube.com/watch?v=NO-9SGe-LiI
Could always ask Romaron to talk them to death
messanger = messenger
Not a predictive text problem !
Just my craaap spelling and not checking properly before i posted it ! or was it bad karma from the magpies ?
Hitman,
I tried to picture what you were trying to convey about these Magpies, walking or dancing in your garden ! Sorry but I just can't understand what the hell you are going on about. I know you think these birds are bringing you some kind or psychic message or something. Not sure what this message is. Best you shoot them and be done with it !
Yep, be different and shoot the messanger, they are only there to nick something shiny, like your gold watch !
won' t last . in my view this is temporary and GE not priced
All broker coverage is way above today .
THis price action is all retail psychology at it's worst. Imagine we go 85 to 84 we drop in price but from 70 to 85 we never really saw a rise . How can that be ?
Wouldn’t be surprised if they pull the SP into the red before close
We need a big uplift in volume.
It’s sad we are sitting at 24p with Brent at $85.
At some point surely this has to change. Will it be the GE deal or is that already priced in
Is GE just a big bandage over the wound
the counter party of the equity swap has to manage the hedge so will buy or sell stock to keep things balance .
We never saw the equivalent £12m in shares bought. we saw a small amount and that was the immediate hedge .
Remember its not sellers but hedgers of the equity swap , the portion that needs hedging .
In my view this is causing un necessary confusion , Helikon is not long the stock but the equity swap, the flows you spot on the volume blotter as the hedging that is taking place on a daily basis as they manage the hedge
Helikon have got us by the short and curlys at the moment, we are firmly pinned down, but why ?
Selling into any rise rather than waiting for the SP to rise. Not sure what their game is
Been there about an hour. One is bigger than the other but it uses the smaller one to walk around like it does trying to replicate rain drops... and then pounces on the food if it appears near the feet of the smaller one or its own..
SP: 25.20p Helikon are sellers near 26p, so GE needed to get us to 34p.. I assume Malaysia will be sorted over Q4, rather than Oct 21. I can't find anything online.