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The IMF managing director said the lender was “very close” to concluding a loan deal with Egypt widely seen as crucial for easing a foreign currency crisis that has been suffocating the economy of the heavily indebted Arab country.
Well I was wrong, the buyback goes on.
I've had a quick look at the July announcement. They said they would be spending about USD 3m and it would last 3-6 months. Shares in issue have dropped by about 9.7m. Using pure guesses of average exchange of 1.15 and average price of say 23p gives a possible buyback of 11.3m shares so perhaps more to go yet.
(ps there is enough info available for an exact calculation but that'll do for me).
I'll put in my tuppence hapenny worth :)
On another note it seems like the buyback may have run its course. Hopefully Radoff will be buying on weakness and prevent a drift back down.
As far as I can see the vampire squid has bought a 3%+ holding, although I'm not sure why some of it is non voting (derivatives perhaps?).
IF someone was thinking of a takeover I suppose this would be a first sign. But who would be mad enough to want to buy a company whose free cash flow for next year was roughly equivalent to its market cap? I wonder if IPR might sense an opportunity now that they have had a chance to assess the potential of the Egyptian fields?
(Just thinking out loud. All pure speculation DYOR etc.)
Does anyone have an opinion on the difficulties pharos have in getting paid in dollars?
I had a brief look at Apache and Transglobe Egypt and they did not mention any problems in their Q2 results.
Thanks to missdosh on the HUR board for this link
(Says it all really...)
https://www.energyvoice.com/oilandgas/north-sea/212394/private-capital-from-afar-to-play-greater-role-in-north-sea-growth-as-sentiment-weakens/
Thanks slip, can anyone tell me what wind directions and speeds would rule out flaring? Thanks.
Hi Albi, something may occur on or around the 24 July 2020....but it depends on various factors. I think I may have seen some different threads on the subject but it it is very hard to find them on lse. There are some real experts on this board and I am not one of them.
Thanks malchaufa, that's what I was after...
" This constant hedging by buying and selling ensures the holder is always market neutral. Profit is derived from “scalping”, ie constant trading back and forth. It is common to see smaller stocks “range bound” as these players dominate trading in the market"
A while ago a very helpful poster posted some excellent links on the subject of convertible bond arbitrage. Unfortunately I can't find the posts on LSE. However I read some of the links and one quote went something along the lines of:
"Some investors are often puzzled about why the share price seems anchored around the conversion price...it is a result of the arbitrage strategies" HTH ...roll on next summer.
Hi buzz,
According to the morningstar US site,polar capital is not listed as a shareholder and they list down to funds that only hold 5000 shares. The only big fund holding is Cavendish with about 8% in two funds. But of course data from polar might not be available for some unspecified reason though I doubt it. The polar UK value fund is about 990m cap and its tenth largest holding is 21m sterling so PMG would be small beer for it...and the fund has underperformed its benchmark by 5%this year so I suspect an axe may have been taken to the dead wood.
As a fine point of interest the ft site lists IG index as a holder of about 1.1m shares.
Many a true word hath been spoken in jest....
Hi BD, you say:
HUR will only RNS if production falls short of guidance.
But Hur say:
the extent that this will be materially outside of our guidance,
...surely producing materially above guidance is also price sensitive info?
(And we are, according to postings)
Thanks Amaja...it's interesting to see the result of Hurricanes and the rigs hard graft. The ship's less than pristine appearances reminded me of this
http://www.poetrybyheart.org.uk/poems/cargoes/
Well well, absolutely, amongst todays many distractions it's easy to lose sight of the info that HUR have been producing an average of 16k bopd plus (against guidance of 9k). Since they won't be taking any chances at all with the integrity of the reservoir it means they must be ultra confident in its performance. This is stunningly positive news (go on SIPP ...get a bit carried away!)
This flurry of flare posts was started by skeptic1 on advfn posting "rumour of flare" after a sharp SP rise. I dont recall a question mark but the post was edited later.
Here are some extracts from other posts:
skeptic1 24/7 are some special needs going on?
redoctober 16/8 are you special needs?
skeptic1 19/8 in advance of this shenanigans
redoctober 15/8 before WD shenanigans
Hi Biffa
You wrote...
Gives us circa 12k bopd assuming that Amaja's figures are indeed correct. That's about where it should be. Hopefully Amaja will be able to add to his earlier..
I think we are well ahead of where we should be. Hurricane RNS of 11/7 gives their guidance as
Q3 19 9000bopd 45%
Q4 19 13000bopd 65%
2020 17k or more.
Despite the rain we are still in q3 so are smashing guidance with 12k!
Didn't they try to clean up Halifax unsuccessfully? Perhaps they tried on WD as well, hence the cryptic crossword stuff about Flash, Ajax, and kitchen floors?