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922 million shares, buybacks take out 1 million every two weeks. It's going to be a long slog.
Terry, your spreading yourself too thin. The only thing getting diluted, is the quality of your posts.
On June 20, PTAL estimated average production guidance during Q2 23 would be 5% higher than the 17,000 bopd production guidance previously given. I make it over 10% higher.
As a new investor, it seems PTAL has the normal volatility of an oil company, plus the added factor of it all kicking off with the locals. As the company grows, so will the demands of the locals, so I can see the trading opportunities that will arise. Thanks to Sturm for his informative posts.
BP bought back 718.7 million shares in H1, 4% of the share capital. For this buyback, there's enough left in the kitty, at these prices, to buy 7.5-8 million shares a day, for all of July. As for the next buyback I'd go for $1.5bn, although BP did say in the last results there would be a working capital release in H2. With an oil price of $75 and yield of 4.3%, it's hard to put a convincing case for a higher share price, but while the oil market looks for direction, sub £5 buybacks offer solid value in the medium term. Looking forward to August's results, with Shell raising their dividend, if BP don't increase their own, the market won't like it.
Perfectly happy if they run down the life of the mines and the shareholder bonanza that would follow over the next 15 years.
Surprised by how little is paid to the U.S and how much Azerbaijan receives. It's a PSA, and a money spinner for both parties.
No buybacks since the blockade and no mention in yesterday's RNS. With Q2 production 5% above guidance and the recent fall in the share price, why?
Yesterday, 4×250,000 sales went through. Will today's block of choice be 125,000.
I've just had a look at the Brent average and refining margin average for this week in June over the last 4 years, with the net debt at the end of each Q2 period and the buybacks announced with those Q2 results.
Brent RFM Net Debt Buybacks
2020-$26.19-$5.8-$40.9bn-NA
2021-$67.23-$14.0-$32.7bn-$1.4bn
2022-$110.53-$42.3-$22.8bn-$$3.5bn
2023-$79.55-$23.7(to date)
A handful at over £5 and a handful at £1.98. Let's split the difference and say an average of £3.49. Why don't you keep your head down and mouth shut, you'd think with your posting frequency that an investment guru was holding court, not a TAF schmuck.
All the balls JSE are juggling in the air now, they're bound to drop one. Blakeley pulled in another $2m in 2022, shame on the remuneration committee and shame on Blakeley for not having the decency to take a cut. Warning signs are all over this.
Roxi, you seem to be the only one buying. Good luck.
Roxi, as I said, your living in cloud cuckoo land.
Y11, July 22, Brent $118, share price £3.60. Feb 23, Brent $82, share price £5.70. Is it possible for you to write a non dumb post.
Your living in cloud cuckoo land.
When China invades Taiwan, will BP's assets there be treated the same, and another few squillion written off.
Rosneft Q1 profit up 45%, with production of 4m bpd. BP's 22% stake must be of interest to some Chinese/Indian company. My take is Rosneft and BP are prepared to wait this out.
138 grand between 4 directors is pretty lame, especially the CEO's purchase. Tokenistic, a £1m purchase would have grabbed the market's attention.
MOY, they are behind on the buybacks. They have spent £380m over 19 days, average £20m p/d. They have $2bn to spend(£1.6bn), which leaves £1.22bn for the remaining 43 days, average £28m p/d. At these prices they should be shifting a lot more than 4 million shares a day.