Firering Strategic Minerals: From explorer to producer. Watch the video here.
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‘old yer ‘roses BM. End of Q1 is still a couple of weeks away.
I remain hopeful/optimistic and can imagine reasons why the well-led board and excellent management are taking the deal to the RNS advised deadline.
I hope that all of the gainsayers will publicly apologise once the deal is done and JOG is significantly re-rated.
I do wonder if they have always had a backup in their pocket of a buyout…hence the narrative all went through the regulator and the NSTA approved the extensions .. ..
DYOR
With Brent down at $73 can't see a floor being introduced for political reasons until the autumn budget at the earliest now, they just need to get the best deal they can signed with no more arbitrary future dates, they'll always be something or other to wait for but they can't keep dragging their feet forever, you'd have to imagine the NSTA will eventually lose patience and reallocate the licences eventually as well
I'm still backing the Ithaca chaps!
DYOR
So no floor, and still talk of a floor in the future..
Were the BOD waiting to make sure no nasty surprises today before the buyer/farminee agreed? Were they waiting on a producer (like Harbour) that was hoping their PR might spur on Hunt to act today? Or were they praying that a floor was introduced as it was the last roll of the dice.. with the only deal in town conditional upon it? Or did they have multiple choices, the best of which was linked to a floor? Or.. the list goes on.....
My money is on a buyout.. Harbour or Ithaca.... But I suspect this wasnt their first choice... WDIK ?!?
Not long to wait now, at least until we get the next instalment of the drama ..
DYOR
Battery RL is an excellent geologist and a lovely chap . Surely at his age it cannot be easy for him to see the share price slide . I cannot imagine what he must be going through if Mr B and his team don’t secure a deal .
I hate saying this as I have a large holding . The closer this gets to the deadline with no news the share price will continue to fall .
Totally agree with you Battery the PR is extremely poor !. For all we know the whole mgt team could be on holiday playing golf using our money !
If no news by Monday, it would be a good time to call a meeting to oust the bod and bungling Benitz. Needs two weeks for the notice, then Monday third of April, if no news, we all go vote to remove them. I am not buying any more timeline slippage, if they haven't done a deal by their own arbitrarily announced deadline (so much for December 22) then sack the lot of them, ask RL back as a caretaker, immediately put it into an FSP and get a few dollars per barrel. We all walk away with four or five quid a share. Result.
The simple fact is this budget was an artificial date created by speculators on this board.
AB has 12 more trading days to pull his rabbit out of the hat. Tick tock.
Interesting day to not announce an EPL floor....
Hopefully this increases the imperative to get it announced meanwhile long-term oil bull case remains extant
Nice try Fraser
I see Alexa and Philip are talking to each other again on the BB, or should that be Simon and Briggs?
Points taken, JB, but you might want to hold-off until you've checked the budget holds no nasty surprises on the tax fronts.
JS, please believe me when I say that I don't take any pleasure in this but I am genuinely concerned by what the next couple of weeks holds for the SP. You don't announce "certain progress" at the end of November and then hold off until the end of a 16-week period to share the good news!
Can someone explain why the price is falling ? Isn’t it strange the volatility at a certain hour it will rise and then fall . I’m aware of the TREESHAKE scenario but watching the price is very stressful and not good for my blood pressure !
That’s a good counter Greener!
Come on and B what is going on ?
You’ve rewarded yourselves lovely pay rises what’s innit for us investors .
That is a worry although the counter would be that they are missing investment allowance, depleting their reserves when this could very well be baked into a deal as contingency.
https://www.energyvoice.com/oilandgas/north-sea/489940/hunt-considers-limiting-uk-energy-profits-tax-when-prices-fall/
The worry is that this goes on and on.. and the producers wait to commit capital for a longer period until they strong arm the government into embedding the floor..
Hopefully I’m wrong!
DYOR
Linda Cooke is American, HBR was founded in 2014 by EIG, a US PE firm. Check the board - the ethos and philosophy of the company leadership is US.
My point is their mindset is not Equinor. They'll be double miffed with lily-livered UK plc.
Taken from HBR's recent year end results announcement:
2023 Outlook
............ Total capex guidance reiterated at c.$1.1 billion, including c.$0.2 billion decommissioning, split 85 per cent UK / 15 per cent international
- UK capex targeting high return, near field and/or infrastructure-led opportunities
.......the missing link:
https://www.harbourenergy.com/about-us/our-history/chrysaor/
I'd steer clear of HBR is I were you - I own shares in the Company :-)
Greener - re "Harbour is a US company"...................not so. HBR is a UK company, deriving about 90% of its production from the NS. The link provides more information.
Linda Cook is one of the very few UK O&G CEO's who's had the balls to tell Sunakhunt where to go with its heist on an industry whose financial health is vital not only to the UK Treasury (via taxes on profits that will disappear faster than Sunakhunt can say "will you vote for us now all you lazy and feckless types who've got plenty to spend on booze, f.ags, bingo, football, holidays but who haven't got enough to pay your food and energy bills - have I missed anything - ok we'll take even more away from all those silly people who've got savings we can tap if you vote for us) but also for national security.
Don't get me going.
Come on Benitz - pull your finger out - if you're waiting for something helpful from the UK Goventment forget it. The best you'll get is empty words. They're all spineless cowards who don't think about anything other than votes.
dyor
To achieve WEFs green aims there needs to be a whole lot more Oil discovered.
The US Department of Energy states that it will be necessary to double or triple the size of the US electric grid to accommodate the proposed level of clean energy, including EVs, by 2050. This is, of course, a kind of complexity.
If we are already having difficulty with maintaining complexity, how do we expect to double or triple the size of the US electric grid? The rest of the world would likely need such an upgrade, as well. A huge increase in fossil fuel energy, as well as complexity, would be required.
https://peakoil.com/consumption/when-the-economy-gets-squeezed-by-too-little-energye