Member Info for bluemango

Still no broker note from WH Ireland after the last OU on BNG, which is highly unusual for them and suggests (to me) that they're saving it for a more comprehensive update to come soon.

"Father, forgive them, for they know not what they do"

Smarty from yesterday:

"MMS been having a field day today but price should’ve moved more on 2m buys and 30k sells ? Suspect we have somebody(s) selling a few."

500k just reported. Delayed report from yesterday?

Caspian's nomad WH Ireland are normally fairly prompt in putting out a broker note after an operational update, eg after 21st Dec update they issued a note the same day.

Unusually, this time they haven't.

Could this be because they're aware more news is coming soon?

Given how cold it's been in Kazakhstan over recent months this is a decent (albeit unexciting) progress report. Some traders exited early on but can see this moving up now with warmer weather and plenty of drilling news still to come.

Now 'has his' RNS subject heading.

About time LSE had an edit facility! 🥴

Clive now his RNS subject heading:

"Morning Caspers, at last, it's GO time!!"

More detail on the WV House Bill 5076, courtesy of Leoneobull over on Ad*fn:

WV House panel OKs bill viewed as legal shield for nation's largest gas and oil well owner

By Mike Tony mtony@hdmediallc.com

Feb 1, 2024

A West Virginia House of Delegates panel has approved legislation that would loosen gas well-plugging regulation and threatens to bar legal action to address abandoned wells in a state with approximately 15,000 of them.

The Energy and Manufacturing Committee on Thursday approved House Bill 5076, which would prohibit state code requiring wells presumed to be abandoned to be plugged promptly by the operator to be used as a cause of legal action by any person on their own behalf or in the interests of others.

I think we'd be rather interested in Oak Bloke's take on this, at some point ....

Courtesy of elpirata over on ad*fn:

2 days ago — The West Virginia House of Delegates Energy and Manufacturing Committee approved a bill viewed as a legal shield for Diversified Energy ..

https://twitter.com/PhilipCPrice/status/1753521576740303332

Philip C. Price

@PhilipCPrice

& now he is protecting his buddies at Diversified Energy with House Bill 5076. It will allow the company 480 years to cap their abandoned gas wells!

https://www.wvlegislature.gov/Bill_Text_HTML/2024_SESSIONS/RS/bills/hb5076%20intr.pdf

"NOTE: The purpose of this bill is to clarify the process of well plugging. The bill adds new conditions in which a well does not need promptly plugged. Finally, the bill limits causes of actions in law and equity"

And right on cue, a 300k dump. What a pain - and totally weird timing.

Hopefully Mr '250k dump' has finally been exhausted

Got any translation for the tenders? Just had a look and there seems a fair few of them suddenly.

Much has been written on whether they can maintain the dividend, with credible reports that they Indeed can - and if they announce a maintained dividend in the March results then expect the price to absolutely rocket.

One minor point re your post - a reduced dividend would greatly lessen the rationale for buybacks - the saved resources would be better employed on acquisitions or debt reduction.

JonnyGee - it's actually a fair point and for a while I've been wondering over to what extent a dividend cut is already priced in, and whether it could actually lift the valuation. Given that a halved dividend would still result in a very attractive yield at the current price.

Tennyson broker note

"a solid trading statement with headline financial & operating data which should provide further reassurance to the market after a turbulent couple of weeks"

Asterisked out because it's become standard bulletin board practice to censor out mentions of what are seen as rival discussion platforms.

When I said many would be happy with just a doubling from here, I meant that as an initial target only. Plenty more possible given time, in medium to long term; particularly if they can demonstrate continued ability to pay the full dividend, gas futures continue the predicted rise, etc.

... while the First Berlin note is only a few weeks old and I'd say 3600p is a tad more realistic a target than the 6000p. Of course many would be very happy with just a doubling from here.

That's GBpence obviously (not GBP - I wish ....)