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Oh and GGG when last did u see a IPO out on the LSE ??? - the IPE is on the Thames often take a stroll past it hard to believe at one time 60% of the oil on the planet traded there - you are correct in assuming the LSE is doomed - on look at the FTSE tells u how moribund shares trading on the LSE have become take LLoyds for example only shining light has been RR
Unfortunately GGG the relist NYSE won't happen with out a bite of the poison apple reverse split - needs the reverse split to get SP above $4 for a NYSE relist - sad but them there is the apples.
Lets see company news what pops out - I think same ols same old dance tune on the Titanic - nearer by God too thee - BB's and hogwash killing the SP further.
i don;t think it's about the reverse split, but more to do with a us listing. the us values everything far higher than the rest of the world. o&g is no different. if you want to see the sp go up by 50-100% then de-list from dog**** london and list in the us. not the simplest thing to do, but will guarantee a significant re-rate in value. picked up another 50k just now under 41.5p. crazy share price given the step-up in production, delivery, and cash on the books since we were last at these levels. none of the issues we've seen previously, dividend is now huge, and brent is still above usd$80. goes to show the value of a uk listing. aimho gla
And GG a possibility that BB's have been shelved because a reverse split is looming large - always try see why the worms got in too the ships biscuits
Take heart GGG who knows maybe the penny finally drops PTAL HQ and they announce a reverse split and relist next company news. Standby then for the rocket ride £3 to £4 SP
Dear Riddles me old fruit - as said many a time - split the holdings when the dear sisters parted company - holding 30000 PTAL @ US $0.28 and 30000 GTE @ US $9.71 - the latter zoomed on a reverse split and relist - GTE holds the glass slipper and dear old sister PTAL the Pumpkin. Still holding PTAL awaiting Prince charming - seems the prince is delayed swanning about USA with a rather nasty princess.
HL dividend now credited. I've gone ahead and purchased 6,150 more
I see old Bob is now ramping the share after his purchase at 10.01 today. If you can call that post a ramp! Either way he's definitely flipped.
PSU's have reduced thankfully - so touching to read the up beat posts - possible zoom to 50p on company news release - so stay huddled chaps - fingers crossed heee heee yo ho ho the SP and barrel of rum drink and the devil will have his fun.
My top up of 16,950 shares i just bought showing as sell but was inpatient with HL and their late div crediting :D
But Manolo has got his latest batch of PSU's. Not a good look.
Not yet...........
Rylidan; my sentiment is unchanged, PTAL is a conservatively run Co, that likes to maintain a cash buffer, to smooth (protect from) unforeseen eventualities. And whilst some may be unhappy at not leveraging buybacks into current lower SP, I'm happy with that stewardship.
The fall in sentiment (SP), has more to do with frustration of short term traders, not seeing it promise the world/shooting the lights out, managing their 'opportunity' loss. If, like me, you believe in PTAL, believe in the long term, it's just noise.
Agree your summary, excepting that oil price is still well ahead, as it has been all year, PTAL's base projections. Yes, increased costs, but also increased cash inflows.
My sentiment is, I'd rather have 10% for 10 years, than a one of 50% gain on traders pumping an over promising (but hostage to fortune) mgmt style.
Sentiment is for the short term quick buckets. Profit is for the patient.
Well I just picked up 2 x 50k in the 41.6's. Average now 46.7p and 45.5p if including the dividend. Hopefully some positive news at the AGM, or at least a reminder of the value proposition here. Even though they have increased costs for erosion control, they are still pumping 17kbopd and have the acquisition bopd up their sleeve as well. And poo is still holding above $80 so it's hard to see why we're in the low 40's. BBs restarting would help as well. Have a great w/e all.
Typically rises few trading days after as more and more people get it credited to their account (my case!) so in theory should be better next week.
AGM is next week as well so would be good to get some updates/mgmt opinions on 19th June. I've signed up to the webcast taking place.
Divi day normally sees a good rise. Sentiment seems to be low ATM due to a few factors. I think the issue is that the next divi news isn't likely to be great, we're coming up to the dry season in a few months, overspend on works, oil price under pressure and the excessive share awards. Balance that against increasing production, more sales routes and I can see the reason for a slight drop. It does seem to have been overdone, but if confidence is low sometimes you get an overcorrection leading to an incredible value buy.
Technically it does look good value right now IMO. GLA
Jesus the divi is now paying out near 11% (inc. Canadian withholding tax). Not sure what EV:EBITDA numbers look like now? Let alone with the recent 900bopd light oil addition. SP getting silly. Anyone would think that Brent is in the 60's rather than 80's. Even with additional erosion costs the amount of cash we're throwing off is silly.
Out of interest, what do we normally see when divi is paid - do we get a bump in SP? Would be good to know when these muppets are going to re-start the BB program. Never seen such an illiquid company of this size. And to not be on top of BBs when the sp is slipping in this way is ridiculous.
Oh colour my Polly crackers red - the divi day Dive in action - SP come on level 40p.
II have just paid the Dividend into my account.
Not sure HL have any staff in on a Friday, going on past divi performances. When I complained they said they had to distribute (allocate) the cash manually - strange that they then bleat to the press et al that they have wonderous IT systems. Not.
Yep always annoying having to wait till Monday for HL to get a move on while i see lots of other brokers credit peoples on same day :((
I think dividend will be Monday for most of us, but people usually post about it :D
IIRC SP tends to notch a bit up when retail investors get their dividend and perform their own (yet taxed) buyback.
Divi day today. Should see some positive action in the share price.
GLA
Chest upon chest of Spanish gold and a ton of plate in the middle hold.
And there they lay that took that plum with sightless eyes and lips struck dumb.
The SP and the devil will have his fun.
Yo ho ho and a barrel of oil.