Member Info for BacchusII

Just seen Darktrace advertisement on the back F1 McLaren spoiler!
Must have money to burn.

Want to see:
1. Another 36 million shares purchased to take us down below 800 million total.
2. 200 million dividend.
3. Debt free (almost).
4. Good news on our overseas portfolio.
5. No further UK investment.

Anyone been Calculating on Buyback exactly how much is left?
I thought this week might be it with a rough calculation but no RNS stating end of Buyback so must be a little left in the kitty. Expect less cash has been spent due to depressed SP.
Can’t be more than $5 million at most left.
Need good news to boost the SP methinks. Anyone got any gems they can share?
Been a buyer from 380 to 309 pence so technically under water on current holding, was selling higher than 450 pence to limit downside due to talk of the WT but remain an avid supporter.

…..when people sell and the SP continues to rise, you know they are thinking about how much more profit they might have made. Ha, ha!

Buybacks will finish this week. About a million shares left to buy.
Who knows why some insiders sell a depressed share like Harbour, sometimes they just want the money.

Interesting since the recommenced buybacks after Xmas that 500k were bought yesterday whilst on others days less than that. Probably due to selling pressure yesterday after reaching 335 pence helped our trading buy more shares.

Still a lot of cash left for more purchases but rules are probably limiting to less than 500k?

Anyone got any thoughts on this?

Buy someone….
Like Jeremy Hunt or Rishi Sunak?
How much should we offer?
£50million each to reduce the WT?

There should be an oil price floor at which point these two rates of 25% and 35% are payable on gas and oil revenues separately.
The UK government want companies to reinvest a lot of their profits, but the windfall tax goes on for too long and 35% tax should not be in force at all unless prices are extremely high.
The WFT in its current form does not bode well for the government.

Wood Group must buy back shares to avoid takeover interest, investor states.
Well maybe that is the thought process going on here. Um, doubt it.
Less shares the bigger the risk and reward to remaining shareholders.
Tuck your shares away until next year and see what happens. IMO shouldn’t be 300 pence but 400 pence and closer to 500 pence with a poor wind to dampen that wind power generation.

Only if there is further lockdowns Worldwide is $60 or even lower likely.
IndyCrass and friends are wishing on a Star crossing over to Bethlehem for Christmas.
Also, those doomsayers, including at one point Mr Smartie, of getting the lower end of 250 / 280 - 300 pence are going to backpedaling like a crazy banshee pretty quickly. Mark my words.

Off to Austria skiing for two months soon and going to ride the snow, a bit like Harbour riding up to 425 pence by end February 2023. IMO.

GLA

“The pent-up demand out of China is going to be enormous. That could swing demand by at least a million barrels a day, and that could easily make the difference between an oil price forecast of $95 to $105 versus $120 to $130. Easily.”

The Hague by implementing stricter regulations on European oil and gas companies and climate activism are big reason why the US O&G companies share prices are higher.
European Energy Transition Strategies (ETG) is not a winning formula for European companies whilst US companies like Exxon and Chevron that stay focussed on their legacy businesses are doing well.
This also means that the US has not the same problem with sky high prices. Very short sighted climate ideals without the infrastructure to make a swift change.

Jefferies cuts Harbour Energy price target to 470 (670) pence - 'buy'

How can Harbour be making excessive profits but the SP be down 25% in a year and 18% in a month simply because it is providing the oil and gas the UK requires!

Shell and BP are both up 47% over a year.

Over the past 2 months, Exxon Mobil is up 35.3%, Chevron is up 30.6%, ConocoPhillips is up 30.1%, Phillips is up 45.3% and Marathon Petroleum is up 40.3%.

A travesty of justice to investors who lose a lot when backing UK start up O&G companies and are being kicked in the teeth with this grossly unfair additional tax.

The European Union is discussing a cap on the price of Russian oil at between $65 and $70 per barrel to prevent excessive profits but that keeps Russian oil flowing to the market. If Russia ended the war I’m pretty sure it will be removed quicker than it is being implemented.
In the UK it does not matter how low the oil & gas prices go the EPL is in place until 2028. No mechanism for removal. How is this fair and equitable to the companies that are most at risk from this tax.
The Harbour Energy share price is now at around its lowest in 3 years, so where are these excessive profits for the average shareholder?
The government is punishing small UK producers because of large corporation profits that the government can’t apply a windfall tax to.
I don’t think so. It is not Fair and it is not Equitable!

The shares are being cancelled and will therefore increase the percentage Short of the entire shares as well as the dividend yield etc.

NEWS Article:
The Chinese major, CNOOC, is in talks with British oil and gas producer Harbour Energy for the sale of its Gulf of Mexico assets.

Harbour Energy declined to comment.

Yesterday 1.7 million UT at 299.5 pence sale equates to, from let’s say 320 pence, a reduction of £340k. If you wanted to buy them back today, at let’s say 320 pence, a total of £680k. Highly likely some scaredy-cat investors lost a mint.

Today 800k UT sale equates to about 0.10% the same amount Capital Trust Management added to their Short position on 18th.

What does this mean? No idea. The big boys make the rules and play the games, the PIs just watch and hope their share play is the right one but spooky news usually means PIs lose when they panic sell.

I’m not not buying until…..
Don’t catch a falling knife.
These are going down to 250 - 280 pence.

Oh, I’ve just bought, aren’t I clever.
Going to sit this out and ride the wave, man!
All about the bull man.

“unless we get forward guidance” can’t you read financial and operational statements?
$60 oil - I’ll be building my own storage facility and buying $100million to fill it with.

What a muppet.

This statement assumes that there is more bad news to come on top of the Windfall Tax which is the only news I’m aware of that is the cause of share price weakness.

What a crass comment to make.