Member Info for bluemango

Lol, too true somm.

Have a good weekend, meanwhile next couple of weeks could get interesting ...

Using Somm's example, 0.000444 x 16 gives 0.007 GBP as a special div, not pence.

I think you guys mean GBP 0.007 or GBP 0.005, not 0.005p?

It's handy being immune to insults if the answer you give doesn't quite suit the questioner's agenda. Seriously though, yes of course buybacks would not be a preferred option for us PIs.

It was given equal weight to special dividends, no great emphasis on buybacks and could just as easily be special divs after sale of shallows, income from CE etc

Buybacks were mentioned yesterday, example given was at a premium to prevailing price.

One thing that came up, it was mentioned that WH Ireland haven't included a calculated share price/fair value in their reports recently and it was planned that this should be rectified.

Had a decent chat with Clive at end of AGM. Writing in haste so no full report from me, suffice to say that current sellers have definitely got it wrong and if I hadn't already got shedloads I'd be buying at these levels. There will be more news very soon, talking days/weeks rather than months and not ramping. Nothing commercially sensitive in what was discussed but the mismatch between market valuation and true commercial level is getting ridiculous.

But one arbitrary number that does interest me - at current exchange rate, 26.8p per share is the $800m market cap trigger for Kuat's and Carver's mega bonus.

Just saying.

Just be aware, for anyone attending the AGM, Taylor Wessing have temporarily moved to a location very near their main office at 5 New St Square which is being refurbished. Tomorrow's meeting is at their temporary office at Hill House, 1 Little New St.

Not selling until the endgame - so not at any arbitrary number picked beforehand but when full potential reached.

Thanks somm, all very helpful & clear.

'Very carp'?

???

I agree that we're mere passengers on the Casp journey and that it's Kuat, the Al Marri's and the Concert Party that run the show, exactly how they want it and ignore everyone else. And that any notion of holding them to account is nice in theory but wishful thinking.

I'm content to hang on their coattails, knowing the resources under licence look very substantial and hopefully enjoy some very decent gains when this eventually gets sold - perhaps with some divis along the way (special or otherwise).

Oh well, more biscuits for me then. And it'll be a shorter meeting with only me attending, so more time to do the other stuff I'm in London for.

Not expecting any great insights at AGM but there are other things to do in London when there for the day, if not in the City often.

Good to meet fellow investors and show the company they need to be accountable and to address yet again the communication issues. And to hear from them directly how they see near to med term panning out, strategic rationale & aims, etc. And when I have a sizeable proportion of my portfolio invested in a company it's a preference of mine to attend their AGMs.

Yep

It comes when it comes. Hopefully in the next couple of years. I'm a relative newbie here, so perhaps can afford to be more patient than some. If I was told it was a choice between 28p this year or 42p in 2025, I'd wait another year, no question.

Mrcautious, yes. I guess my question was, if trading, why pick on this rather than say, a bank or FTSE 100 company? We know news is fairly unpredictable here, both in timing and to the extent it's price-moving (either way). I would have thought this would be a nightmare to trade, but like I said, each to their own. FWIW I haven't traded/sold a single share here, just adding when timing seemed opportune - I'm in for the endgame.

Amongst the typos, meant 300k obviously, not 300.

I agree with Lamoroma24. It's immensely frustrating to witness, especially when you wonder what these traders are getting in return, on such tiny margins. I don't think it's that they don't believe that CE, shallows sale etc are happening, I think it's instead they see a tiny profit of maybe couple of grand at the most if they bought in the mid 2's and they're literally too scared to hold for larger gains just in case there's more slippage. But if they're that risk averse, what are doing investing in a Kazakh oiler in the first place?! It just doesn't make sense. Holding the 300 shares until a share price in double figures could see a far more meaningful gain.

Each to their own, I guess.

And sure enough, there he is.

Crazy. Pointless when it's for so little return at these levels.