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Hi Ancient,
I posted this a couple of days ago but it sure shows how everyone is now banking on the deal going through.
£3 is beckoning....What will the Yanks do to us ???
Wintershall Dea management board to step down after Harbour Energy deal closed
BERLIN, April 24 (Reuters) - Wintershall Dea (WINT.UL) said on Wednesday that the current management board will step down after the transfer of its non-Russian oil and gas assets to Britain's Harbour Energy.
CEO Mario Mehren, COO Dawn Summers and CFO Paul Smith will remain members of the management board until the transaction closes and will then resign from their mandates, it said.
Stefan Schnell, currently senior vice president of Group Reporting & Performance Management at BASF (BASFn.DE), opens new tab, will be proposed as chairperson (CEO) of Wintershall Dea as of the closing of the transaction, expected in the fourth quarter.
Larissa Janz, vice president of special projects at Wintershall, would then assume the role of deputy CEO.
Harbour Energy agreed in December to acquire Wintershall Dea's non-Russian oil and gas assets in a $11.2 billion share and cash deal with co-owners BASF and LetterOne that creates one of the world's biggest independent producers.
Upon completion, Wintershall Dea's main tasks will include handling claims related to the expropriation of Russian assets, the sale of remaining assets and the closure of the headquarters' units in the German cities of Kassel and Hamburg.
Some 850 employees work at the headquarters, it said.
"To implement the required restructuring and ultimately the closure of the headquarters in a socially responsible manner, the company is currently negotiating a reconciliation of interests and a social plan with the works council," it said.
https://www.reuters.com/markets/commodities/wintershall-dea-management-board-step-down-after-harbour-energy-deal-closed-2024-04-24/
Linda Cook must be extremely confident here while owning (and still adding) 8,603,532 Harbour Energy Shares, particularly of the timely closure of Wintershall Dea M&A deal, same as Carlos Slim and when looking at Zama, I can see another good reason why:
Top ten crude oil upcoming fields in North America
1. Zama
Zama is located in the Gulf of Mexico, Mexico. This upcoming crude oil field is owned by BASF, Harbour Energy, LetterOne Holdings, Petroleos Mexicanos and operated by PEMEX Exploracion y Produccion. Production from this field is expected to begin in 2024 and is forecasted to peak in 2026 at approximately 0.13mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2053.
https://www.offshore-technology.com/data-insights/top-ten-crude-oil-upcoming-fields-in-north-america/
“Zama oil field is located approximately 60km off the coast of Tabasco, Mexico, in the Block 7 of Sureste Basin, Gulf of Mexico. Estimated to hold up to two billion barrels of oil-equivalent, it is considered to be one of the world’s biggest shallow-water oil discoveries in the past 20 years.”
https://www.nsenergybusiness.com/projects/zama-oil-field-gulf-of-mexico/#:~:text=Zama%20oil%20field%20is%20located,in%20the%20past%2020%20years.
“There are many other ways to invest £250k of your hard earned. Linda appears confident !”
Absolutely NasiRul, and especially when you already own circa £25 Million worth of shares (over 8.5M shares owned by her even prior to this purchase!). So indeed “Linda appears confident”!
I think sending you for a Maths lesson is actually required rather than a walk through !
She bought 86,000 shares.
The shares are £2.85 each
86,000 x £2.85 = £245,000 give or take.
There are many other ways to invest £250k of your hard earned. Linda appears confident !
I think it's a pretty good indication that things are progressing well with the Wintershall deal, she won't be able to purchase once she "knows" but the market hasn't been informed
That's a very chunky buy post-div ...
Yes,
Some very positive things happening here and the odds on the deal going through are getting better and better. I think production will be 460-480 BOPD when we first kick off but will hopefully rise well above 500k next year.
Im particularly excited about Algeria and all for us focusing there and cashing out in Mexico but who Im sure Harbour will make the right decisions.
Shorts Closing CONSECUTIVELY, HBR Director's Buying CONSECUTIVELY, and as for today, Linda adding a further ~£250,000 worth of HBR shares to her already massive portfolio (even by CEO standards!) with Brent nicely trading at circa $90, now looking forward to the upcoming company AGM followed by the ~500,000+ bpd resulting Wintershall Dea mega merger by Q4 this very year!
Post from ADVFN today:
MickinVest26 Apr '24 - 07:08 - 4635 of 4636
Interesting share purchase by CEO, roughly £250,000 spent when she already has plenty. The sp does seem a bargain with oil around $90.
Fantastic RNS! HBR CEO/Linda C. Buying More Shares Here and Clearly has Major Skin in the Game:
“Harbour announces that Linda Z. Cook, Chief Executive Officer, has purchased 86,050 ordinary shares in the Company ("Ordinary Shares") at an average price of 285.5 pence per Ordinary Share.
As a result of this purchase, Linda Z. Cook has an interest in 8,603,532 Ordinary Shares, representing 1.117 % of the Company's issued share capital.”