Member Info for Bishop190

Very interesting article Brig. It is my belief that the age of oil is far from over. The push to electric traction by the western economies is going to be derailed IMO by a) due to Covid, no money to progress the green policies, b) it will dawn on them eventually that China is in essence the monopoly supplier of battery raw materials and the move away from involving China will grow and c) in the uk at least there is simply not the generating capacity to enable probably even 25% of the present number of vehicles on the road to be replaced by electric ones.
I could of course be wrong on all three counts, whether at 70 I will be around long enough to find out who knows!

Well I imagine that they want to see the colour of the other party’s money. So do I, bearing in mind how many shares I have!

In the 1980's I worked for Metal Box plc, then a large metal packaging manufacturer. In the mid decade the Chairman retired and one N Brian Smith came in from ICI, he declared that plastic packaging was the future. The company was dead within a few years, sold off to a French group which was then in turn sold off to Crown Cork, who are one of the world's biggest metal packaging companies. I see parallels with Looney attempting to move BP into spheres totally without its detailed knowledge. BP won't die like Metal Box, it is too big, equally, I don't see Looney lasting long term as the institutional shareholders will have something to say in the event of continued poor performance.

Despite the efforts of the greens and virtue signalling European/American governments, oil will be with us for many years to come in my view. People are getting the message about China and its more or less dominance of the battery (lithium) market and hydrogen has a way to go before it becomes a truly commercial proposition.

Incidentally, having worked in BP for close to 20 years until I retired I would offer the view that it never really found a guiding light to match Lord Browne. The company went places under his tenure.

Oh, just noticed your :-(
My mistake sorry.

Well that’s a very decent reward for your patience Brig. Interestingly EUR was recommended by Fool around Jan/Feb but I was short of ready cash then!

No need to apologise Brig, I am sure we all do the same from time to time. Though this year I fear we will have to miss our annual curry night for old boys from where I worked 25 years ago.

That was indeed a terrible event Brig, I can still recall the images on TV. I wasn't in oil then but i was working in BP (Downstream) when Macondo went up, that too was dreadful but in a different way.

Certainly a good price for picking up more volume but as you say, timing is a bit nebulous.

Yes it does OB and it sounds as though we are in a similar positions!

Forgot you can’t put an emoji, it is a :-) not question marks!

Well that is of course possible OB. I should add that reference to the virus is my assumption and it was not referred to by JA.
I remain pretty confident that it will go ahead but then I have a good few shares so I have to be ??

It was a very short meeting, mostly concerned with the AGM formalities, passing if some resolutions and re-election of Peter Taylor as a director. At the end JA made a few comments basically confirming the statement from last week. I don’t think there was anything new to report. Not that I expected there to be as anything of substance would be in an RNS.
I think we all know that this is a waiting game due to the virus, much like everything else this year unfortunately.

It is in the AGM notice in the website. Too long to type here!

Geo, you seem to have posted your Chariot sakes pitch on the wrong board.

Should be interesting Jim. I can’t really run to the fee for the paying punter!

The AGM is in London. Nobody can go in person due to Covid. It is on Zoom and voice conferencing, details are in notice of meeting on the Company website. I am still trying to find out how shareholders get a password for the Zoom as I am sure it would not be open to all comers.

Fair point Fostany.

It is possible that it is a spousal transfer at original buying price. I have seen that some where else recently, possibly in GBP, but can’t be sure it was there.
I too expected more activity this week. The deal is possibly held up, we are in strange times. I will be very surprised if it doesn’t drill at some point but who knows when.

And a price monitoring extension at 16.36 according to an RNS. All a bit odd. I hope our shares are worth more than .0026!

:-)

Seems you can’t put an emoji on here!