Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Today, higher Brent prices, stronger USD$ versus a weaker Pound £GBP resulting from a hotter than anticipated US Jobs Data all bode well here for a way oversold HBR awaiting numerous/potentially significant and hopefully extremely positive company updates with also one of the world’s richest men now increasingly onboard!
https://www.barrons.com/amp/articles/oil-prices-jump-opec-cuts-a57f8112
Even today, market capitalization of Orcadian is only circa 18M which would certainly not be considered as a “Material M&A Opportunity” by Harbour Energy (nor diversification).
The Oil Demand Outlook COP28 Leaders Would Hate
The International Energy Agency said in its recent oil report that oil consumption is close to peaking, thanks to transition efforts and energy efficiency gains.
Goehring and Rozencwajg: In 12 of the past 14 years, the IEA has underestimated oil demand by an average annual of 820,000 barrels per day.
Goehring and Rozencwajg: “If the IEA’s error were a country, it would be the world’s 21st largest oil consumer,”.
https://oilprice.com/Energy/Crude-Oil/The-Oil-Demand-Outlook-that-COP28-Leaders-Would-Hate.html
Zama field (“one of the world’s biggest shallow-water discoveries”) must be one hell of a field, and Carlos Slim is by far……the richest person in Mexico today.
https://ceoworld.biz/2023/12/06/wealthiest-people-in-mexico-december-06-2023/
Cory Group joins forces with Harbour Energy, bp, and ABP in CO2 transport and storage pact
Harbour Energy, bp, and Associated British Ports (ABP) have entered into an exclusive commercial agreement with Cory Group for the transportation and storage of carbon dioxide (CO2) by ship.
The collaboration centers around Viking CCS, the Humber-based CO2 transportation and storage network spearheaded by Harbour Energy in conjunction with non-operated partner bp, as well as ABP, the largest port operator in the UK, and London-based recycling and waste management firm Cory Group.
https://www.offshore-energy.biz/cory-group-joins-forces-with-harbour-energy-bp-and-abp-in-co2-transport-and-storage-pact/
Yet another interesting RNS here today on Carlos Slim/CONTROL EMPRESARIAL DE CAPITALES, S.A. DE C.V. purchase of a further +1% stake in Harbour Energy (now in 3 relatively consecutive batches taking their total holding in HBR to +5.1% as of today!) while also maintaining a significant holding in Talos Energy and Zama field is clearly extremely significant and will highly likely lead to additional purchases by them (and possibly others) here and undoubtedly be very positive for HBR shares going forward, particularly as now we have one of the richest men increasingly onboard HBR and Zama!
Thanks Kokomo, nice update, this along with announcement of “First gas achieved at Harbour Energy Tolmount East project” highlight notable consecutive progress by HBR, now looking forward to even more significant updates in coming days/weeks/months ahead, GLA.
Post from ADVFN
pdosullivan2 Dec '23 - 20:27 - 4254 of 4256
0 14 0
It is very striking to see how much the share count has fallen as a result of the ongoing buybacks.
August 2021: 926m shares
End-2022: 847m shares
End-November 2023: 770m shares
Https://www.defenseworld.net/2023/12/04/short-interest-in-harbour-energy-plc-otcmktshbriy-drops-by-9-0.html
Short Interest in Harbour Energy plc Drops By 9.0%
https://shorttracker.co.uk/company/GB00BMBVGQ36/
As pointed out by others, while HBR is evaluating/negotiating “Material M&A Opportunities”, lower O&G prices are undoubtedly to it’s advantage, they’ll rise eventually as global production decreases while demand is still looking pretty robust and just look at the Middle East, anything goes at the moment, O&G prices will rise sooner rather than later and I hope the jumps come post any HBR M&A.
Incredibly low trading volumes here today, so no wonder the share price can swing this big on absolutely no news with UK gas prices on the up, manipulation for a large stake holding to take place perhaps? Who knows, patience!
Oil's Wild Ride Is Driven by a Disruptive Band of Bot Traders
An opaque group of algorithmic money managers have seized control of the oil market.
Trading oil has perhaps never been more of a roller coaster ride than it is today.
Just in the past two months, prices threatened to reach $100 per barrel, only to whipsaw into the $70s. On one day in October, they swung as much as 6%. And so far in 2023, futures have lurched by more than $2 a day 161 times, a massive jump from previous years.
https://www.bloomberg.com/news/features/2023-12-01/oil-prices-face-wild-swings-with-bot-traders-driving-the-market?srnd=premium-uk&leadSource=uverify%20wall
From ADVFN, and I completely agree, no debt here, expiring hedges, rising O&G prices, an Outstanding O&G Portfolio along with plenty of dry powder for smart M&A and shareholder returns going forward:
Onlylongterm99 Nov '23 - 16:32 - 4197 of 4206 Edit
0 7 0
HBR is now a sleeping giant and undoubtedly going to be a multibagger stock here, especially from these nonsense lowball levels/valuations, DYOR.
Post from SQZ (on lse bb) today:
surprised Premium Member
Posts: 10,440
Price: 227.60
No Opinion
Charlie Munger Oil quote..Today 10:19
''Oil and gas are absolutely certain to become incredibly short and very high priced........running out of hydrocarbons is like running out of civilization. All this oil trade, all these drugs, fertilizers, fungicides, etc. … they all come from hydrocarbons. And it is not at all clear that there is any substitute..''
I agree.
ADVFN
TheComposer29 Nov '23 - 07:51 - 4244 of 4246
0 4 0
Looking at this update here today, at these levels/valuation this is a truly great buy and hold with visible potential to be a Multibagger next year.
I agree, present valuation/market cap here is nonsense and clearly makes no sense at the moment, this should massively improve as incredibly poor hedges expire and rich international portfolio kicks in.
Unlike HBR, ENQ is burdened with debt, HBR is in a unique position with no debt, expiring of forced and poorly hedged pricing, promising portfolio……now looking forward to management updates here followed by an OPEC+ meeting on Friday.
Https://www.energyvoice.com/oilandgas/north-sea/decom/542056/autumn-statement-signals-big-change-for-uk-oil-and-gas-decom-taxation-expert-says/#:~:text=Autumn%20statement%20signals%20'big%20change,investment%2C%20but%20tax%20uncertainty%20remains.&text=BP's%20Miller%20platform%20was%20decommissioned%20in%202017.
Energy Voice:
Autumn statement signals 'big change' for UK oil and gas decom taxation, expert says. Treasury documents released last week could spell good news for North Sea decommissioning and CCUS investment, but tax uncertainty remains.
Looks like the tide here is finally about to turn, and about time!
ADVFN
loganair22 Nov '23 - 12:18 - 4226 of 4235
0 14 0
Well that's really Green???
Grangemouth oil refinery, that refines 80% of Scotland's fuel, is Scotland's only refinery and 1 of only 6 in the UK, to close in 2025 and to become an import facility only.
What will happen is oil from the North Sea will then have to be shipped half way around the world to be refined, then shipped back to Scotland instead of being refined in Scotland in the first place.
The SNP will say that Scotland has reduced its carbon foot print, even though in reality Scotland has increased its carbon foot print, but off shored it.