The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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CEO of Ithaca in an article yesterday evening:
However, Myerson added discussions with both political parties were taking a more pragmatic view than has been publicised due to the UK’s current heavy reliance on oil and gas.
“I can share that behind closed doors both the government and the opposition seem to be a lot more supportive than what may come across in the newspapers,” he said.
“Ultimately the UK currently uses oil and gas for 70% of its energy.
“Why wouldn’t you produce your own local energy if you’re hitting yourself in terms of jobs, taxes, energy security and global emissions?”
We are hearing the same message from Steve Brown, and I have heard it from other industry sources. An atmosphere change is coming soon in NS, and greener projects will be rewarded - such as Orcadian, and Jersey Oil & Gas.
We are close to the bottom (or maybe at it) in O&G sentiment in North Sea. ORCA is a super-levered exposure to that (that no-one big can buy because it's too small).
Hold on to your helmets over the coming weeks!!!!
The future is bright..... we are toward summer! short term can go either way. long term there is only one direction e.g. where the licences are! GLA whatever you decide.
It is exactly what i think.... looking fwd to the shell deal/no-deal. it may be a game changer.
@Didgy i know will take time to get the first oil out from pilot but there ORCA has a free carry to first oil. In addition there are the 33rd round Licenses which are not in the 84p target. Once the Shell $$$ loan sorted there may be appetite for ORCA. will see.
I can see why this is valued at this price , but that’s not until it start drawing oil and gas from the third parties ..2 to 3 years !
What’s your thoughts ?
At this price a bigger boy must be sniffing around for easy acreage in the North Sea to offset their dwindling bpd? I am sure there is and many people are going to be caught with their pants down as it will surpass 30p in a very short time. less than a day.
The broker had the above target before the new Licences. I wonder what it is the new target after the last RNS. i think that our CEO will receive some offers in the near future.
@med you may have chosen the right time.... i do no see this going any lower. i might have not the correct glasses on. will see
I just bought back in last week and it drops lol. Sorry everyone!
Anyway Zak thinks it should at least hit 18p soon on a technical basis. Strange that the rns this morning didn’t help it along to at least hit that level.
https://m.youtube.com/watch?v=w7wsDxN8zQo&t=326s
1. As I speculated earlier, Woodland Capital still reducing imho (selling on news?)
2. The licence award while good news, only gives future potential. Markets want cold hard ££ it seems these days
ORCA is in a holding pattern until clarity comes on Lab tax allowances. That is the news that will lift the stock, and I think that picture will be made clearer in the coming weeks and months.
The point here is that SB is creating an ever-growing 'option' that in the right circumstances will be worth a massive amount. In fact an insane amount. If you think of it in terms of leverage, as the CAPEX comes entirely from the FO partner, it's 100% levered.
There will be 'nothing to see here' until O&G in North Sea gets clarity on the tax environment (Well, FDP approval will also be great for the stock).
Patience MAY reward shareholders x10 or more.
GLA. I'm holding for the next 12 months.
And as usual, nothing to see here.
what needs to happen?? everyone shouting about it doubling and being at least 20p......its down about 4%
why??
Wait! Didn't the market buy Steve's plans for developing a sub-commercial gas discovery that will require the use of carbon capture and storage? I'm so surprised!!!!!!!!
Didn’t expect that … or did I ?
A seller at these prices is not driven by ORCA future. They must have another reason to want to get their cash out.....
It might be. Clearly MMs not friendly with SB for a little while. But even if there is the background seller remember the option at 25p.... so it is matter of time really no rush in this business.
Excellent news confirmed today, but I think the price is being constrained by (probably) Woodland Capital continuing to sell their position down
Last holdings RNS stated they were below 3% so we wont be able to track them further, but theres been a few largish blocks over the last couple of days which I would suspect is them
Great comment at the end from Steve Brown, his knowledge of the area, history & his subject is second to none.
With the amount of skin in the game he has, the £100M of retained value with our recent farm-out, this is certainly a Compelling investment from these levels.
“This is amazing, there is about as much resource in Earlham 2C (19 MMboe) as Deltic have/had in Pensacola, but without needing an appraisal well. Clover net to ORCA is twice as big as Selene is net to Deltic”
Fantastic news!!!
Heading past 20p today or tomorrow.
GLA
As discussed, seems like good news?
Knowing my luck, no. We should see a good rise though after the great news late Friday pm. Surely an RNS will be released 7 am tomorrow to announce the awards?
Even if it did double, it would still be undervalued!
Are we going to see this Double on Tuesday ?