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Hi Nige The Tw sp should in my opinion be nearer £3 rather than 2 I'm of the opinion and said it many times that the special divi is what's holding it back. A progressive divi policy is much better and the markets would prefer it What happens when the special is cancelled or reduce, the markets will take a dim view. That may happen when the Help to buy scheme stops and that is certainly what's happening to Psn will they be taken off the list. I would like to see a quarterly divi of around 2.5p which would prevent the huge swings of the sp and give a more sustained growth. For instance take a look at Londonmetric graph they are paying around 2p quarterly with a steady growth , not exciting but steady. As looking for other stocks to invest in I am trying to find the next Croda bought at £1.60, now over £50 and about to pay out £1.65. Oh for another Croda :))

Hi Ben I didn't see any provision made in the update for leases that doesn't necessarily mean there hasn't been any. Leases have always been on apartments it's only recently it's been effecting houses. Although years ago there were 2 places in the country that had a strange arrangement of a ground rent charge on freehold properties. Advertising as Freehold +lease or freehold +free. The 2 places were Manchester and Weston s Mare, didn't half cause some trouble in Weston in the 1990s when it was dubbed the fastest growing town in western Europe. What a mess it looks now ATB:))

Hi LGO fan For me personally I'm still enthusiastic about this company and I have no problems with LK except the lack of detail and news He couldn't do much about the weather situation , the oil price dropping or the spt tax I am concerned though about the Steeldrum acquisition, if the sale to Prd doesn't happen will it have been worth it, especially with Snowcap seemingly being not commercial. If the sale does happen the Swp will be progressed faster but where are Prd going to get that sort of money , could be a share purchase

Hi Garnheim Thanks for your input Are you saying the EOR replaces the contractual requirement of drilling I believe 10 wells What do you see as recoverable reserves using co2 If there is only 4m barrels of oil reserves split between 2 parties do you think the economics of using co2 is worth pursuing

Hi Ben, Nige I've had GFRD for a long time over 20 years , divis always been good with no specials which is better in my opinion. You can't write them off as a civils concern their very big. That Carillion shambles of an outfit was a bodyblow to the share price. When you look at their margins it no way reflects the profits that can and have been made on all sorts of projects. Indeed the profits should cover all head office costs and land purchases for Linden Homes. From my Bryant days that was the case. I would be more happier Investing in them than Psn at the moment the price they are

Hi In4 Doesn't look like Prd shareholders should be banking on this asset to avoid a placing. I sold mine on the rise this week :))

Some posters on the Prd board seem optimistic that there won't be a placing because the cash will start to come in from Trinidad. This co2 project is only a trial it might not work. If it is a success they retain the proceeds until their costs have been met and then it's 50-50 According to the 3rd and 4th quarter updates last year Cerp had commenced successful workovers on 2 wells. Prd have an option to purchase Fram which expires mid 2019 I for one can't see the purchase happening now and as for cash flows I don't think there will be enough to stop a placing at Prd. I'm still unsure how much Cerp will benefit from this deal without a purchase

Hi Ben I agree with what you are saying about Psn, I'm stuck with them at the moment too much to lose at mo if I sell. I've had a good divi and the same to come so I will just hold for a while. I can't say I've enjoyed the experience I think Psn and Bellway are below par, quality and designs have never got any better. I probably wouldn't have put the cash into builders anyway at the mo, would be looking for more international stocks out of the UK, which is what most institutions are doing. ATB:))

Hi Nige, troubles I'm of the opinion that this is being kept down before the Capital Markets day and I've been adding to my pot. I'm still hoping for a 206 high before the x divi date. The Psn update has thrown a spanner in the works regarding quality issues, especially with that couple in droitwich putting up a banner saying "before you buy speak to us first". There is a Tw site next door The analysts are saying there are better investments in the sector than Psn, hope they mean Tw as their update emphasises on the customer experience ATB:))

Hi smallsmile I'm very interested at the moment in the hydrogen project that ITM power are doing with Keele university on putting renewable hydrogen into the gas grid. They are forecasting up to 20% can be put into the National Grid. They are also putting in their electrolysis into all of Shells German garages There is a good presentation from last Nov on solid state batteries by IKA ceo ATB:))

Hi Offerman Thanks for a very good summary , I agree the management are controlling the cash very well instead of pursuing bopd increases I did invest initially when they took on Goudron but as you said the depletions were higher than expected. I am still optimistic on the SWP making the company but after being ill recently I didn't think I was going to see it , well I'm still here and still hoping. Not to sure about Suriname and even less sure about the co2 trials ATB:))

Hi Offerman Thanks for your informative posts I can see you are still extremely excited about the prospects for Cerp and I am still fairly optimistic but finding it hard to keep my optimism going. The answers to your questions were just confirming what I have been expecting After spending 3 weeks in hospital with appendicitis I've had plenty of time to read and catch up. Can I ask why you and Leo are extremely excited. The last 4-5 months have just been a disappointment for me:- Goudron - workovers cutback, waterflood taking longer to produce and the lack of enthusiasm to make the field work Snowcap looks a disappointment and lack of info on this Innis Trinity:- emphasis being put on the co2. I see the enthusiasm on the Prd board for this project apart from a possible sale I can't see the benefit for Cerp at the moment SWP- disappointed at the lack of workovers on Bonasse and Icacos. The forthcoming drills pushed back into the rainy season. The report or plan seems to be taking a long time to produce is this due to being paid in shares. The SWP could still be the company changer but patience is still needed on my part Suriname- most of this countries production is off shore, Guyana seems to be more active I personally would like to see more info on the fields and not have to keep waiting for 3 months

I must admit I was expecting some work to be carried out on the SWP. The Icacos and Bonasse wells work overs doesn't seem to have started I never really expected the deep drilling to start first , I've always thought they would be re-entering existing wells to increase production near to existing facilities. I'm not disappointed on that front except that the timing is slipping into the rainy season. LK has said though that the SWP doesn't get effected so much by the weather as Goudron does

Best thing for me from that update was the concentration on customer satisfaction . The survey shows 90% satisfaction how true that is I don't know, only the buyers can tell us that. At least Tw are handling it 100% better than Persimmon seem to be doing

Hi Wigan The dividend policy for the next year should be detailed in the Capital markets news around the 15th May and the interim divi announcement on around 1st Aug . ATB :))

I would imagine it will be the Capital market day news that will drive the sp due on around the 15th May, judging by the last couple of years. The sp then tends to lose momentum hope they come up with news to keep the momentum up this year. Wishful thinking on my part :))

After watching the interview again, my view is that the spt tax is what's hit the production. Stopping 3 workover rigs from producing more oil was probably necessary to protect the finances. Goudron in my mind is not a failure as some on here have stated. Ritson was talking over 12 months for a full blown waterflood to start producing oil. At the moment only one pilot scheme has been putting water into the ground as and when it's available, another has just started. There's 3 layers of interconnected layers of oil for the water to fill but it's proved its working locally as the pressures are being maintained. At some point it will produce the goods. In the interview Andrew asked LK about giving shareholders more regular newsflow and he would only commit to the M&A activity and the co2 work. I really hope he changes his mind cos the quarterly updates aren't working. I'm a bit disappointed that Snowcap looks non commercial I think he could have expanded on that. Lets hope anymore acquisitions are better than the last one

Hi Nige Ben Thought I would change the heading from my name with this discussion From last years capital market day report Tw announced they were increasing the number of apprentices to start the reversal in the lack of tradesmen In the 1970s most labour was direct and was a total nightmare. They ruled sites you couldn't get anything done on time, always downing tools and asking for more bonus In 1981 recession firms grasped the chance to clear them out and training was left to governments. That's why there is no coherent plan I have had a tour a around a college building dept while I was with the local CIOB committee and some of the kids work was extremely impressive. Also had a tour around the Worcester cathedral restoration some of the young masons were fantastic and can definitely do corners So things are not all doom and gloom ATB:))

Hi Jay I agree with most of your post. The merger was a necessity in very hard times for building companies and the fact that Tw and others were on the brink of collapse brought about the demise of quality. A lot of tradesmen were lost to the industry at that time and this will take years to redress ATB:))

Hi Nige I've held GFRD shares for many years and the last 12 months have been hard to take. Problems mainly down to the Carillion fiasco I wouldn't call their Homes division Linden small, their division for affordable homes still turns in a nice Profit I had a small punt on them this morning , fingers crossed. Nervously waiting the Cerp update after lunch, sp already climbing Hi troubles There are 2 sectors in the housing industry one is for people who can afford to buy the other is the rented/ housing association which is what I believe you were referring to ATB:))