Member Info for Charlie156

Yes, after the budget, although my trade isn't showing yet. The river levels made my mind up.

That's me in for another £20k's worth.

That's what I said Roxi. JSE lost money in H1 when Brent averaged $84.06, in H2 to date Brent is averaging $79. Finance costs have risen and Q4 is the peak hedging quarter. Everyday Akatara is not producing puts more strain on the balance sheet.

JSE lost money in H1. Since then the oil price has fallen and finance costs increased, with higher production to offset this. Two thirds through H2, the company is on track for more losses, with no sign of Akatara achieving full production this year. There is very little equity on the balance sheet and a prolonged fall in oil prices will show why Blakeley should have been removed a long time ago.

That's the latest buyback completed. 375.3 million shares bought at an average cost of £4.154. That equates to 2.33% of the shares in circulation, cutting the annual dividend by $120 million, which will go into funding the next dividend increase. Shareholders won't feel better off today, but will over the medium/long term. With Brent at $73, there will not be a $7bn buyback in 25, without an increase in net debt or asset sales.

Iquitos has dropped under 2m again, so still a bit twitchy, but cautiously optimistic.

Most people don't know what you're talking about. Stop showing off.

Roxi, why don't you and your exclamation marks just go away.

Reports BP is trying to offload a stake in its offshore wind business. A quite shameless about turn from MA, but while obviously not a man of principle, good news for shareholders.

BP's net debt is an issue, especially in relation to it's peers. I'd like to see them reset their buyback programme, no buybacks above £4.50, funds going to getting the net debt down. Would BP be a stronger company in a year's time with net debt of $23bn and 15 bn shares in circulation, or a company with $16bn net debt and 16bn shares?

The market won't be receptive.

Y11, I think that's where WB has gone wrong, not following your schizophrenic trading approach. You should set up a Fruitcake Fund for fellow believers. Put me down for £10k.

For Q4, JSE have hedged 10,551bpd@$70.81 per barrel. That's $100k a day revenue they are missing out on, which becomes more of an issue each day Akatara is not producing.

Only fools predict share prices, but historically, today's oil price, cable rate, FTSE 100 and buyback programme data indicates value at sub £4.10.

Don't know what's going on with the buybacks, £16.8m spent today, when there's circa £27m left to spend daily until results. I know the dollar has lost value, but only recently they were buying 2 million more shares a day.

Happy, you do like to spray gun your predictions all over this forum, which are all hopelessly wrong. Outsmarted by yll, what a cross to bear for any investor.

Y11, they say it's never wrong to take a profit, in your case it might be.

The comment from BP less than a year ago about how critical onshore wind was to its renewables business shows the nonsense that shareholders have to put up with. MA should have fronted up here explaining last year's comments and yesterday's about turn. It's all a game I know, but it'd be nice to be dealt a fair hand.

The warning sign here was Maari which dragged on for 3 years before they walked away. It was clear after 18 months that deal was never going to happen, that management inertia was repeated at Montara which has destroyed shareholder value. Today, Stag remains a carbuncle on the face of JSE's portfolio and they've done nothing. Praying for a high oil price to make that field viable is not what Blakeley is paid a very considerable salary for. The share has more of a chance without him at the helm.

It's offshore wind they want to get rid of, but the hit they'd have to take means that's not going to happen. Disingenuous, but as ever today's news shows how much value BP's portfolio of assets carries.