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Stunning response to my pitiful whinge, Frazerjohn ................the Westminster lot are probably only going to halve the value of our investments in oil & gas. The Holyrood lot are costing you your country.
Fwiw, we lost ours in the years from 1997 to 2010. The lot that followed all turned out to be political pygmies - in it for themselves. It's quite logical when you come to thing of it; which intelligent and balanced individual would ever want to become a member of parliament - particularly in an era when the party that gets in is the one that offers the most to the proles.............and the UK is as bust as a rat. Insurmountable debt that can never be reapid.
What's linked is only the National Debt. Add the "off balance sheet" unfunded public sector RPI linked pensions, OAPs and onerous leases lasting the life of all the schools and hospitals Gordon Brown (one of Scotland's cannier politicians) claimed credit for, when the organisations building them under the PFI laughed their socks off as they banked gazillions courtesy of the taxpayer - and (depending on the actuarial assumptions used) you get to somewhere between £6 and 8 trillion (yes, trillions of pounds).
A lasting legacy to our children, their children and their children's children (repeat about 50 times.
In other words, it wil all end up in tears. It already is doing
A small win on JOG wouldn't go amiss for us all as individuals - might take our minds off things for a while......
GLA
dyor
The Muslim chap is a proper qualified joker . I note he filed a lawsuit against a nursery for discrimination which he later withdrew . We could do without fools like him as he is pretty dim , useless and a liability . Perhaps he should have stayed at the call centre .
Well, I'm 100% with Greener 101 and I'm continuing to hold to the bitter end.
In fairness to AB he gave us a good pointer in the last RNS using "management speak" to tell us he wasn't expecting any news in December and we are now just over halfway through the revised target period. Like, presumably, everyone else on here I'd like some positive news sooner rather than later, but the negotiations are clearly complex and we don't even know how many parties are involved.
Patience is a virtue, so they say, but hard work sometimes.
The share turnover continues to be low and yet the MMs mark the price down at every opportunity. I fear this will continue particularly as we move into March.
crime soon.
Meanwhile, the Muslim candidate hasn't been asked his views yet, but I'm waiting on the journalist to ask how his beliefs sit with a woman saying she has transitioned to a man and demanding access to the male only spaces of the mosque - I think I will have a long wait for that one.
The third candidate hasn't been asked as nobody really knows who she is or where she is. She'll probably win.
So yes it's a complete mess in Westminster, but if you really want a laugh, come up to Scotland to do the politics - it's like a 2 reel Buster Keaton show, which is only going to get much more ridiculous, funny and so, so sad that we have come to this.
Watch the fallout from Sturgeon and her CEO husband Peter Murrell over the coming weeks - it'll make your eyes water.
Dick
I share the pain you fell with the present bunch of maniacs in power at Westminster.
However, I will see your Westminster and raise you the Scottish Holyrood Parliament.
Where to begin...probably with the Green Party.
5 MSPs who have finagled there way into political decision making through a list system where nobody directly voted for them.
One is a South African maniac and another is a Canadian maniac - all 5 of them hell bent on breaking up the UK. The Canadian is co-convener and also a trapeze artist. The other co-convener has accepted accepted and keep an award named after the co-founder of PIE (paedophile information exchange). There is also a professional schoolboy amongst their ranks.
It goes without saying that they want to shut down the oil and gas industry.
They also now want to trash the whisky industry by banning advertising, minimum unit alcohol pricing (which means a litre of Grouse is now £ 4 more expensive in Scotland than the rest of the UK, whisky visitor centres look like they may have to close due to the advertising ban - and they are also in the throws of bringing in a deposit return scheme which will add 20 p to every can and bottle produced in Scotland, until recycled. The result is that 40% approximately of the domestic Scottish drinks industry have said they won't participate in it, and I have a fair idea that the wine producers of France, Spain and all will tell them to take a long walk off a short pier - meaning Scotland will become...well...sober (maybe).
They also were behind the Gender Reform Bill - the one that allows you to declare that you are a woman and go in and get changed with Ladies under 21 netball team - or be a rapist and then say you are a woman - but most importantly of all now, you are NOT allowed to say if somebody is a man or a woman - that is now a heinous crime.
Thankfully, the menace that was Sturgeon has gone and we have 3 real squibs fighting to be Leader. One Wee Free Christian (real fire and brimstone), one complete failure Muslim chap who has been a cabinet Minister for years (after quitting his job in a call centre) and has failed his way to success in every post he had (you know, so useless that they promote him to the point where they think he can do least harm - he also plays the race card like a Mississippi card shark) and a third candidate, who would struggle to pick herself out of a police line up, but at least had the decency to vote against the Gender Reform Bill (that's the level we've reached - stat the blindingly obvious and you have then crossed the extremely low bar to being First Minister)
Todays Hoo Hah involves the Wee Free candidate who has stated publicly what everyone new. She's against men saying they are woman and vice versa; she's against same sex marriage; she's against children born out of wedlock - in short, she's shot herself in the foot, re-loaded and had a blast at the other leg. All for being a Christian in Scotland, which will likely be a crime s
Interesting read, Frazerjohn - thanks for linking the article.
The author forgot Axion X111:
On travel : Never buy a first class bus ticket to an unknown destination in advance, because you might not have enough to do what you want when you get there, or return to the place you started your journey".
The way politicians are talking about windfall tax (which in the case of E&Ps in the O&G sector isn't WFT at all - it is a straightforward increase in tax payable to 75% on profits arising in the NS - you'd think it was going to pay for everything that's broken in the UK today. It isn't a giant leap to imagine these cretins in (so called) "government" - they couldn't govern a tea party, never mind a nation - having a go at taxing the worldwide profits of all UK registered O&G companies, irrespective of : (i) the price of oil & gas vs what it was before the Russian invasion and (ii) where the profits are generated. Labour is planning to do the equivalent with "non-doms", so why not companies? The prospect of UK registered O&G companies voting with their feet and forever abandoning the UK in their droves, would be of much less concern to them than the thought of some cheap votes from the brain-dead masses who spend their lives with their mouths open waiting to be fed, together with some useful short term cash they can use to make themselves slightly less unpopular. It might be just too tempting to resist.
"With utter contempt" goes nowhere near describing how I view them. Rats are preferable and (to the extent they might have any) probably act with more morals.
Hunt has said he's not minded to increase the EPL in the forthcoming Budget. I wouldn't put it past him to give way to pressure from the left and put conditions on the reinvestment relief that, from a practical perspective,make it worthless.
Sorry to sound so downbeat. I'm still fully invested but grow less content by the day. I hate wishing time away. December, January and February (very nearly) have come and gone since JAB's 29 November comments in the licence extension RNS. Someone earlier mentioned caveats. The relevant one came at the end of the 29 Nov RNS:
"This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to factors beyond the Company's control or otherwise within the Company's control but where, for example, the Company decides on a change of plan or strategy".
dyor
A very positive message from James to someone called spacetec.
Just a matter of being patient!!
I wouldn’t get your hopes high spaced out , doubt it will fall that low .
waiting for 162-158 area then will load up and sell at 230
I'm in to the bitter end, or at least until the "deal" is announced (or not).
Suspect many are of the same view from the private investors.
Been in for soo long, what would be the point of selling up now?
Probably a dreadful investment strategy that last sentence, but from the risk side of investing in AIM, coupled with the greed associated with the promise of great riches which some of us humans have (gamblers), I'm sticking in.
What was it that the Zurich Axioms said about greed (read it years ago) something about greed being the biggest failures of investments/ business. Something like that anyway.
https://www.investorschronicle.co.uk/2014/08/15/shares/revisiting-the-zurich-axioms-0IJT7RYpbTYnkZz4D2g15M/article.html
james, i have been involved in 4 acquisitions in the last 10 years. every one has been the same in terms of time - ie way over the forecast end date. it is usually that people involved underestimate the pernickity nonsense of lawyers with their "what if" questions. there will be may different groups involved as well. so in summary i am not that surprised. i am sure AB has (had) the best intentions when he made his forecasts but there could well be delays. the good news remains that many directors have shares and essentially there has not been much significant exits (bar one) from major shareholders. so i know the wait is painful but the fundamentals remain good.
As previously said many times, patience is the key.
Share turnover is remarkably low and yet the MMs mark the price down at every opportunity. Maybe, just maybe, they are themselves accumulating as they can see the end of the rainbow.
I think AB is certain because both sides have to do a deal; JOG must F/O, other N/S operators need to make the best of the investment allowance, and replenish diminishing reserves.
Personally I think the downside AB's positive statements are purely reputational, nothing more. AIM isn't the FTSE 100. But he would have to RNS is the process failed and parties pulled out. Hence it's ongoing.
The delay will worst case (IMHO) be a deal the management hoped would be better, best case have some complexity due to optionality and competitive tension. Remember there are infinite moving parts in a deal, such as financial structure, involvement of infrastructure partners and/ or multiple operators, drilling contracts, pipeline deals with surrounding area, electrification, tax related issues, etc.
I still don't get how you be certain of something being signed if it's 3+ months away from being done, I also wonder how water tight the wording was, I mean, I look forward to winning the euromillions if not this week then certainly in the near future but doesn't mean it's actually going to happen so would be good to know from any lawyers if that was actually a commitment or AB just professing what he'd like to see. This is certainly getting tedious that's for sure, if it was going to be a buyout would we have started to see someone build a stake at these levels by now? In the meantime we see almost more chat posts than trades and the price continuing to fall. For the sanity of all of us I'm hoping we'll be let in on what's happening very soon.
I am also holding to the bitter end, rounded my holding up a tad last Friday and regret that slightly. Overall my expectations are declining, but I am open to a surprise. Back to the chores.
They are just over half way through the guided timeframe.
AB guided so positively because they know a deal will be done.
The delay will be to squeeze every drop of value for shareholders. Maybe it will be stellar, maybe not - but there will surely be a deal.
I see lots of reasons for endless haggling. And delays. The company is well capitalised, and vast amounts of shares and options are held by management. Meanwhile no-one has sold any - not even RL, who might even be sore at getting edged out. I can't see a deal that kills existing shareholders is likely.
I'm holding to the bitter end, DYOR.
What are your thoughts Jim ? Should we be concerned or is this normal for price to fall until the news .
With no news this is only heading one way .
Agree with you we need to kick this Mr B out he’s useless as a custard tart !
Thank goodness we have AB delivering shareholder value. I dread to think how the sp would perform without his genius, probably be a negative sp without St Andrew. Time to kick this guy out, he has delivered far too little ever since he saw he could get away with missing his own 2021 schedule, and indeed paying himself more!
The share price action is concerning. My top holding so hopefully the cesspit that is AIM is not corrupt this time round
The Ithaca guys are involved here with JOG correct? Maybe Ithaca have said to JOG We'll buy you out at a low ball amount say £6 a share and the offer is good until end of Q1. You've got until then to find/close out a better deal if you can. That sort of thing could be the reason behind the bullish AB comments back before Xmas.
All valuations aside tough, something is only worth what someone actually wants to pay for it.
Also, who knows what Laurel and Hardy will announce in the budget.
They are capable of serving up a complete horlicks that Frank Spencer would be ashamed of...which would be enough for any Oil Company/ Finance House to say goodbye and good luck.
Hi Abatt
I don't think the RNS "clearly" stated anything of the sort.
"Although multiple fiscal changes have slowed progress with closing out commercial farm-out discussions, we look forward to a successful conclusion..."
It says they have slowed progress, not slowed completion and agreement. They still "look forward to a successful conclusion"
I think there will be a deal struck. But what will the terms be?
Like all holders, hoping for a big success.
Unfortunately from my experience of some "sure things" in the past, don't be completely shocked if we get turned over.
Everything crossed that doesn't happen - I could do with the cash!!
For once Briggs I agree with your hypothesis .