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MaryBr190,
Well you got what you hoped for. Haven't been able to double up but I have increased my holding this morning in the mid 70s. I notice WPP lost £176.8 million in market cap this morning whilst we lost £138.74 million
Hi January24,
I have always thought the Oil price was based on pure speculation which of course is effected by the numbers and demand/ supply. I agree with you $100 would be un-expected and not too sustainable. Do we not think $90 to $95 is a good sweet spot especially for Enquest ?
With the Swedish selling I wonder if the SP would still be in the 14p range even if $100 comes. I think its also likely we could rise to 18,19,20p while Brent retraces to $89- $90 range.
MikeJE,
A good point however we have not had 10 years of 7% inflation to cancel out any compound interest effect. Although inflation cancels out any interest rate benefit for households I don't believe it is the same for governments. The amount Italy owe will increase substantially an that is all that matters.
Hi Martinen,
I think a reasonable assumption is minimum 1/3rd sell out, perhaps in terms of market pricing lets assume 50% sell asap. I make that a total of circa 141.75 million shares.
Since 5th Sept we have seen approx 99.5 million shares traded plus 2.3m so far today.
Stock on loan on Euro clear was recently 4.22% or 79.75 million shares might need to be bought back, obviously now in profit.
At a guess I would say perhaps 70m shares have been sold already.
Sekforde,
Absolutely agree, the maintaining current production was for me a big one. Also although the few hundred grand is a red herring its the regulatory costs and compliance that I think is the real kicker with keeping the Swedish listing. Does anyone know what the Swedish tax position is on holding over seas stock, I think this could be a problem for many Swedish retail holders. ( Are Swedish retail holders circa 3.3% ? )
I also agree at 13% and the EPL any M&A targets don't look wise to me even if we can benefit from accelerated tax loss usage.
Once we get under 0.5x net debt to EBITDA I wonder if we could refinance at a better rate ? Looks like Harbour for instance definitely could !
Sekforde,
Do we know if Linda has sold all her shares yet ? If she has she might be more inclined to make an acquisition. Of course it doesn't have to be Harbour, this low market cap lowest debt ( for some time ) and $91 Brent has got to make us a very attractive take over target. Could Amjads 12% be enough to fend one off ?
Totally agree with Leases and Decom its just future Op Ex, if you go bust it can't be met anyway.
Stevo12,
Just some thoughts...
Harbour would not be buying $2.3Billion of tax losses from the majors.
they are now debt free with $1.6 Billion available.
Harbour would increase their crude production by circa 46% in one fell swoop can be increased to well over 50%
Most of their revenue is from crude $1115m vs $759 for gas on a roughly 50/50 split
They are valued at £1.9Billion so circa £1115m on crude if valued on production alone a 46% increase would add circa £513m to valuation. Meaning take over would probably add value to Harbour.
Increasing crude production by 46% would be massive for them
Our debt would be refinanced by Harbour no doubt at a lower rate.
Take over could be part cash part shares
Why are Taconic shorting Harbour with a very large single position, while Oil price is rising and their debt has recently been paid off ?
Mr Long,
The only upside surprise I can see in the next results would be buy back announcement and some interesting new partnerships which are not material ( at the moment ) or they would need to be RNS'd
I don't expect too much movement in shareprice on the 18th