Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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ideally stockbuster, ideally. Come and say it to my face.
Behind the bins no doubt?
Alright boys, get those stellas down you and get fighting!
All dollar -denominated commodities fall in price in dollar terms as the dollar rises in value relative to other currencies; as it costs more in other currencies to buy the same amount of the commodity, demand tends to fall. The dollar has risen 13% since January this year. Days of falling oil prices and a continuously rising dollar are not good days for TLW or any other oiler. It's not just oilers either; it's been carnage in the other commodity markets recently. Oil was actually holding up very well, and is rising again as I write this.
Who knows how strong the dollar can get, but when it turns, there will be a mad scramble for dollar-denominated commodities and other currencies, and TLW will benefit.
Just thank Uncle Crispin if you got a sub 40p top up.
Never thought I would see that price again in a $100-$120 per barrel oil era (Brent)
The issue isn't whether there will be a gross profit because if there isn't then this share toxic. I don't doubt there will be a gross profit. It's whether there is a net profit and this won't be apparent until the interims. The operating profit in 2021 transformed into a post tax loss partly due to finance costs not allowable for tax purposes. So the "transformational financing" @ 10.5% interest that can't be offset against tax was not so transformational - hence Les is no longer with us.
What? who mentioned GBP. Exchange rates have been all over the shop since war in the Ukraine. Will be paid in USD yes but suppliers, contractors, employees in host nations and payments to host nation governments will be paid in a variety of currencies. It's not something I'm flagging as massive just something Im looking to see how it's impacted due to the volatility since February as any multi-national organisation operating across many borders generally does. Sheesh.
What currency costs? Surely the GBP/USD fall is heavily in their favour
Sorry that should be Net profit. Got carried away with replying to Operating profit.
Turnover should be conservatively north of $800M - $900M for H1 (181 days at 64,000 bpd), if they are at the upper end of production guidance, the cost of hedging being the main unknown drag. RD will face questions if there isn't gross profit after CMD outlined cost savings and this significant step up in Turnover. Gross profit will nor be available though until the half year report in September.
I'm hopeful we have been profitable this half, though I'm conscious of the court settlement, decomissiong costs, financing costs, currency costs, the acquisition, the shutdown, continued declines at Ten and the high Capex on drilling and infrastructure maintenance in this half.
One of my rants here was because they turned a healthy 2021 operating profit into a bottom line loss (see 2021 results). Les Wood fell on his sword (stepped down) so onward to 22 and I'm expecting them to deliver something far better this year. If Kenya comes good it's happy days but there is something north of 200M to write down if it doesn't come off (again the exact number is shown in the results). Every time we think the shorter's are going to leave Tullow alone they wade in and fill their boots. I wouldn't be here if I didn't think the shares represent value but it's tough here at the moment. calling the bottom is a mugs game but I'm going to hold and stay patient.
All IMHO GLA
Revenue £1,273m,operating profit c.a.£514m but market cap £570m ?
This does not make any sense.
Don't panic and don't let others to steal your money.
Share price is currently far too low.
Trading Statement and Operational Update on 13th July are going to be very good.
We will come good, unfortunately at the moment we are seeing a bloodbath.