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Hi Romaron - I don't disagree with what you say. I haven't come from a background of being a long term holder of PMO so I realise that those who have been through the mill with PMO have a different perspective to me. I feel comfortable with the fundamentals of the combined group and see a lot of potential. The current SP is disappointing but I see that as a short term issue that has little effect on Harbour's ability to generate free cash flow and I expect that there will be a correction in the SP towards the end of June, perhaps earlier if there is any significant news ahead of the AGM and Trading Update.
Good luck with all of your investments.
Smaller company vs larger company. Both are excellent investment opportunities right now. Snap up shares in both if you can.
Hi LayLadyLay - I believe we've crossed swords before and when we disagreed we were polite to each other. I have held PMO and believe they are a first rate investment although I don't hold at present. I think Linda Cook is a self-publicist and extremely well connected. EIG are super smart but not a charity. I'm here because HBR have a strategy that I hope ENQ follow. A lot of stuff is subjective here but in NS terms we're both Championship but you have more points than us at present. Totally agree with the early days scenario. Present events are the unwinding of PMO holdings and exacerbated by patchy recoveries worldwide. US are self-sufficient energy wise more or less so they get first dibs locally and I hear their production has reacted swiftly. LC and team are looking further ahead than most PIs.
Be Lucky - hope to meet you in the play-offs.
Fair enough. The AGM is not far away so then is the first time to judge the new BoD. On financial matters, we must take into consideration that Alexander Krane replaces Richard Rose as Chief Financial Officer on Thursday of this week.
Alexander Krane has over 20 years of experience from holding various accounting, controlling and executive roles in the energy industry.
Alexander started his career at KPMG, working in both Norway and the US from 1999 to 2006. After working as Group Controller for Norse Energy Corp., a junior exploration and production company with operations in Brazil and onshore US, he joined Aker ASA as corporate controller in 2010.
In 2012, Alexander joined Det norske oljeselskap ASA as Chief Financial Officer, responsible for all financial functions as well as strategy, business development and mergers and acquisitions. After the merger with BP Norway in 2016, he remained Chief Financial Officer of the merged entity, Aker BP ASA.
In 2019, Alexander left Aker BP ASA to become Investment Director at Aker ASA, responsible for Aker ASA's oil and gas investments.
He holds a Master of Science in Business from The University of Nordland and an MBA from The Norwegian School of Economics. Alexander is also a state authorised Public Accountant in Norway.
LLL I own about 240k shares here and I'm not going to buy any more until we know what's going on with these converted bonds, We could be seeing these dribbling into the market for years. SP under pressure
One thing we do know is that HBR intends to focus on expanding its footprint in overseas regions to reduce dependence on North Sea. That doesn't rule out further acquisitions in North Sea if a suitable opportunity to increase reserves presents itself and is financially compelling.
What direction would you like the company to take or are you simply ramping ENQ on the HBR board?
I've got my 2021 £20k isa cash to invest but i wont be buying more HBR thats for sure, Enquest is the only oil company that stands out badly under valued - SO It looks like another load to add to my already quite sizable holding.
Well said KO.
ENQ not only survived the worst pandemic in the history, they also reduced their debt without any dilution like PMO and without any asset disposals like TLW!
ENQ outperformed in March when Oil was on rise to $69 compared to PMO or TLW. Once the driving season starts and oil climbs even further, ENQ will easily bounce back to 25p which is like whopping 50% upside from current levels!
Someone correct me if I'm wrong but didn't Enquest not only survived negative/Very low oil prices but even managed to pay down debt during 2020 whilst most other oil companies like PMO fell on hot coals .
Imagine Enquest FCF with oil prices around $70