Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hi ukbb - I made it with minutes to spare. There was a lot of security and this was the reason for the late change. There were two large individuals outside at the Broad St. entrance and more inside. A demonstration was possible but in the rush I had left the super glue behind. I was the only PI there. The meeting was brief and I asked no questions but did have a chance after to talk to various board members and employees afterwards. It will benefit me more in the future I feel and I now have faces to names and they now know me. I met Roy Franklin and he was chairman of Premier for a while. He wasn't part of the debacle there. I spoke to the whole board and how often does that happen? I realised I was holding them up, made my excuses and left.
What my attendance did confirm is that there is little appetite amongst UK PI's for this stock although the late change may have affected numbers. I mentioned this to Mathios Rigas the CEO and said the reason was partly the high price of the shares not matching the penny stocks loved by the UK punters. He agreed to a point and said their investors in Greece and Israel tend to be funds and there isn't such a culture as there is in the UK. They would like more PI's because of the liquidity it improves. I also think there is less excitement with this stock as the business plan is different to many other punter favourites in that they go for long term contracts which misses out on the volatility of spot movements and hedges beloved by the day traders.
I expect to get quick responses to any of my enquiries going forward as questions crop up during the year. I found and smelt nothing untoward.
I will probably increase my holding here as I learn more. Israel and Greece seem a lot more stable from a financial perspective than the UK at present.
Be Lucky
Romaron, any updates from the AGM ?.
Heavily on ENOG, and HBR, seems ENOG is doing even better.
2 quite lumpy trades recorded after close:
184,293 @ 09.02:31 1301
200,000 @09.04:34 1300
For some reason the PI's haven't shown the enthusiasm for this share that they do with the penny stocks. The funds seem to have its measure.
There was a good write up in The Times Tempus column on Tuesday with a BUY recommendation.
Juan - it's a hedge against my energy bills, I'm just about winning. I think it more likely that there was an article in the Times that Germany will be sourcing gas from amongst other places, Israel. You'll notice also that Italy uses energy too.
Be lucky
Nice gas find today.
Looks like excellent timing romaron. We'll done.
The best thing about today's RNS for me was that FPSO has finally set sail from Singapore. All being well it should be in production by early September.
Hi Ron, purely out of sympathy a reaction. Don't get distraught/upset by the fact you are the only poster here. I was/am in a similar situation on the TGL-board. It has been a VERY profitable investment, octupled the capital and have a 35%-yield on my cheapest shares.
Thanks Juan. Does appear so. Intriguing situation here. I'm promised a dividend by Q4. I understand there's been a shortage of them in the UK oil market? They use some strange speak here "sector leading dividend policy". I'm not used to it.
Be lucky
p.s. visiting times 2-3 p.m.
As Colonel George Armstrong Custer would say -
" romaron, you are on your own there chap ."
Well I've done better than Putin and taken over this message board in a bloodless coup. Everybody agrees with me and we are relaxed. I've answered my own question about 'medium term' according to the analyst consensus and it is at FY 2024. That is a year earlier than I pencilled in but will stick with 2025. Using McDan's projection for oil we could be milking it whilst the gas projections pricewise could be understated (that's why I've bought in). So far all hunky dory but it's only my first day.
There is always the possibility that they don't really want a PI following and we are pilot fish to them. I hope that is the case. The 24 March presentation by Mathios Rigas was remarkable to me raised on rather predictable and defensive replies to questions I usually experience. It may be down to the natural ebullience of the Greek nature (I live in North London and still getting over their success in Euros 2004) but he has a brashness and confidence quite unusual in CEO's when speaking in public. I particularly liked the markers he puts down and reference to ongoing contracts and even about speaking to Vitol on a contract for oil not even out of the ground yet.
Maybe we're missing a point here?
Maybe we are pilot fish and he isn't interested in us. His target is to go from 40k boepd to 200k boepd in the Medium Term. I'd like some views on what he means by Medium Term - I'm guessing end 2025). That would move us from the FTSE250 into FTSE100 imo. That would bring in bigger funds that still buy into fossil fuels and the rest is as they say history. PI's can do what they like as he has bigger fish to fry and also a large percentage of his own wealth tied up (11.20%). [Interestingly the EnQuest CEO has a similar percentage holding]
There must be a reason why they went public earlier in their growth than Chrysaor and perhaps there are guidelines to be drawn from it? In both cases PI's weren't/aren't that important imo.
The credit rating is in the same band as EnQuest but you raised HYN's at a much better rate than EnQuest and other UK oil companies. With the amounts involved that will be smart money and they liked what they saw.
There isn't much to expect until Karish is pumping but looking forward to the ups and downs. More ups I hope.
EnQuest's fate is also dictated by a FPSO. I'm relaxed that the Karish field fpso has Greek owners as they have a pretty good name in shipping. There are so many cross over/coincidences that this almost déjà vu for me. It is also like moving to big school.
Best,
Hi guys, I come in peace. I wanted more exposure to gas and went through the beauty parade of UK quoted stocks and chose you lot. There is an absence of posts on here and I in my simplistic way put it down to 2 reasons. The price is high in relation to other oil stocks with many being 'penny stocks' where people can hold millions of shares. (I have a large holding in EnQuest and there are many similarities with Energean but they are priced in pennies.)
The other reason is that I believe that whilst they would like a wider shareholding they are aware there is more work to be done in making it an attractive proposition to the PI. For me you remind me of Chrysaor but using a slightly different route. I think a good example of this is the position I took this morning. It isn't particularly large but the biggest at this time of posting.
I use this for details of trades https://www.londonstockexchange.com/stock/ENOG/energean-plc/trade-recap?page=18
2178 at 8.38
1721 at 8.43
101 at 8.46
SIPP, ISA and the 101 to make it an easy to remember 4,000 shares.
This stock is pleasantly day-trader free but algos behave like the pilot fish following sharks and I probably fed a few of them.
There is always risk involved in buying any share and there are plenty of reasons to avoid this stock as well and they do say "beware of Greeks bearing gifts"
Be Lucky
maybe this one is too easy to make money and nobody wants to chat here LOL
2000p by the end of the year , I hope!
LOL. A very old thread. Where is everyone?
Taper? There is no taper.
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Anyone here? 6 month high today! It's my best performing stock today.
More to come I guess:
(1) In March, dividend policy announced.
(2) Jan/Feb, FPSO will leave Singapore.
(3) By Q3, first gas from Karish, then it will be a massive cash cow.
Anything more?
The end of the world is imminent as well LOL
Munchbox,
When are you predicting this 20% market correction will happen? I'm expecting a relatively small 'reaction' to bond tapering when it happens, either this month or next, but I don't think you'll see anything like a 10-20% correction until there's a much stronger sniff of rates rises.
Why do think a 20% correction is so imminent?
Cheers
Why so quiet here? This stock has done so well recently and much more to go
Barny. Absolutely agree however there’s a small issue of a market correction that will 1 million % happen before Q1 22 and take Enog with it.
Also before the recent update the price touched £6.10 and that shows you in a correction mode these can easily in my opinion touch £5 or lower before the big run next year when gas flows.
First Gas from Karish is key and I hope there has not been a further slide in the timescale as this would be worrying . The latest July presentation had sail away Q1 22 and first gas around this time next year. To say that is a game changer is an understatement. Phenomenal numbers involved .
Looks like my targets are coming in to play here.
Below £6 is certain and with a market sell off due I can see myself picking up shares around £4 if the market sells of 20% which is nailed on.
At £4 or so I’m all in. I mean all in. Everything !!!!!
No doubt at all this will double and more from here in the next couple of years . Big delays to first gas due to Covid hammering the price . One to hold . I am watching closely . Never thought we would go below 700 p again
Barny. You have summarised it very well. This is 100% a crime jewel in my book also.
I really sincerely hope these fall hard so I can put 80% of my portfolio in them.
Had these at £4-5 and sold out £8 few months ago
Looks like my first wish is starting to cone through. Needs to break £7.90 support and then £6.20 comes in to play.