Member Info for BacchusII

Expect a bounce today. No special reason apart from a bird told me these shares are cheep, cheep!

Anyone buying this share must be paralytic let alone drunk!

Political Parties are only interested in short term popularity and therefore make snap decisions that end up later to be very bad for the country!

“ According to the industry body Offshore Energies UK, investments in the North Sea have dipped significantly. This could result in much lower oil production by the end of the decade unless the government can attract greater investment to the sector. While environmental groups are praising the drop in funding, energy experts are concerned about what this means for the U.K.’s energy security, with some suggesting it may have to rely on foreign fossil fuels to meet its needs.”

I think Harbour Energy shares are going to tread oil until May in a range of 310 to 280 pence, due to a number of factors not least when the affects of the oil quota reductions start coming into practice and the Americans start their summer holidays.

I don’t think the shares will go lower but there are a few short term events that will boost SP:
1. A price and/or tapered floor for oil & gas;
2. Oil & gas increased prices (perversely this would mean breaching any potential floor);
3. Takeover (don’t hold much chance of this).

This will probably (*** packet calc: 350 x [est. av. total employee cost] £75k) save £26 million a year and represents 30% of Harbour Energy’s onshore workforce.

What do you think of that?

Share buybacks enable companies to generate additional shareholder value. Under regular market conditions, the portion of profits that a company uses to buy back shares has a positive effect on the share price.
Therefore, the holistic value to a holder of Harbour Energy shares is that of the dividend and buybacks.

“It comes as more than 90% of North Sea operators have slashed spending due to the windfall tax imposed on the industry last year.”

So much for the lauded tax relief if companies reinvest their profits. If you make very little profit from UK investment decisions what is the point in taking the inherent risks of the oil and gas industry in the first place? ZERO. Therefore, a lack of investment will be inevitable and lead to energy insecurity. Even flipping 10 year olds can work that out…maybe not everyone on here though!

https://apple.news/A7iQU87ERRJyGP21cpim6zw

In other words, the market may be manipulated whilst there are no buybacks to get the PI’s to sell under 300 pence as SP is being held under this price IMO.

Biden has become more pragmatic, approving a controversial drilling project in Alaska and allowing new drilling in the Gulf of Mexico. Tacit acknowledgement that the US is going to need ample supplies of oil and natural gas for decades, and the best source isn’t Saudi Arabia or Russia; it’s America’s own deposits.

The UK is sleepwalking into a big oil and gas shortage of its own making. Regardless of a “floor” for the price of these commodities, the EPL will have a negative effect on the UK’s oil and gas industry. Government cannot continue to bail out consumers who have not had to be smart about their energy usage. High prices actually reduces demand and therefore greenhouse gases but I bet environmentalists aren’t happy paying.

What a great analysis, “could go either way”…..right on money.

The dividend will be paid on 24 May 2023 to shareholders on the register as of 14 April 2023.

A shame the Buybacks were not more aggressive but today’s rise a good start to SP recovery.

Poor Happy got out just at the wrong time, however, many on here have higher averages than the current SP including myself. I still believe SP is crazy low.

Telegraph article if you have a subscription!
300 pence here we come.

https://uk.yahoo.com/news/saudis-cut-oil-production-500-145229069.html

The government has also started a process to select the next two clusters and said its initial view was that the “leading contenders” were the Acorn project in Scotland and the Viking project, a separate proposed cluster elsewhere in the Humber. Acorn has been selected as a “reserve” Track-1 cluster and there was disappointment in Scotland that it was not promoted to the fast track yesterday.

That article is 4 days old and the next Thursday from when it appeared was TODAY.
No relief and with 95% of respondents stating they were looking at investing outside the UK due to the EPL with no floor, this bodes bad for government, companies and ultimately the end user because there will be no recovery of tax on having to import more oil & gas. Quite the opposite. Less jobs, tax and security. Complete mess the government have created due to poor press coverage.

https://www.bbc.co.uk/news/uk-scotland-65102825

https://www.bbc.co.uk/news/uk-scotland-scotland-business-65093274

Now that Happy is out we can now look forward to a Rosy future and the shares will accelerate upwards!

I think you’ll find it’s now called “ Powering Up Britain”
Before the results Harbour was just over 300 pence so a drop of 58 pence the ensued to a shade under 242 pence, shares were a steal and still are!
Even 320 pence will not make up for loss in SP over the last few months, so any SP below 425 pence won’t be getting my shares, so there!