Member Info for Charlie156

I agree the TR-1 form is not very clear. On point 2, where it says ' an acquisition or disposal of voting rights', if they just dropped either the word acquisition or disposal, it would help.
Another testing day for CAML shareholders. Not sure what was the point of paying down another $10 of debt recently, when the market takes no notice. The share price after the SASA deal at the end of 2017 was £3.06 with net debt of $139m. Today it is net cash positive with metal prices 30% up. The market seems to be waiting for the next acquisition, not sure what $400m can buy you with today's metal prices, maybe half a Kounrad. If its another SASA style purchase, and 5yrs of paying off the debt with dividends taking a back seat, I'll be reviewing my investment.

With supply constraints and booming Asian demand, high oil and gas prices will be with us for a while. With its stated dividend policy BP will be paying out $4.4bn in dividends and roughly $4.4bn in buybacks until 2025. If oil hits $100 and above, with the present dividend policy its hard to see a share price above £4, as a 4% yield on an oil stock starts to feel a bit generous. If Looney tweaks the dividend/buyback ratio to $6.6bn/$2.2bn, the yield at £4 becomes 6%, giving the share price ample room to move to those £5 sunny uplands, while also buying back 2% of the share capital each year.
Its Rosneft's 3Q results tomorrow, and as the recent results show it is becoming increasingly important to BP which has a 22% stake, worth around £15 bn. Looney and Dudley both sit on the Rosneft board, I wonder what the formidable Igor Sechin makes of these two very different men. Looney, with his puppyish zeal banging on how many electrons he's been selling, and Dudley with his cool reserve, architect of BP's 900,000 boe 5 year production plan, produced at an 35% margin premium to Bp's existing portfolio.
I have listened to all of Looney's 6 conference calls as CEO, and he has never once been asked a question about the destruction of shareholder value that has taken part on his watch. Are the questions screened beforehand, are perceived hostile analysts banned. It all sounds like one big schmoozefest. Why do BP not release EBITDA figures for its renewables division. We all know its losing hundreds of million of dollars, throwing out titbits like Hammersmith is the busiest charging site in Britain is fine, but even that invites questions. 7400 EV transactions took place there in Q3, and it was operating at near full capacity. That means on average a paltry 80 a day, and its ok going on about EV drivers spending on average 8 minutes a visit compared to 4 minutes for petrol drivers, so they can grab a sarnie. you can also spin those numbers that the switch to EV's is halving BP's capacity to serve its customers.

Good to see duplicitous, machiavellian Mark and Mojo back in town. It hasn't been the same without you guys.

Elon Musk is now worth more than Exxon. He's also got the best hair transplant I've ever seen. Elon, any chance of a job swap with Looney, who seems to specialise in making his shareholders poorer.

On the great buyback debate, I note another £20 million purchase today, which fits in with all their recent purchases which have been roughly £20 million. That leaves £100 million left to spend in 6 trading days, with one day of no buys. Sod the share price, I want to know who needs to go back to buyback school.

BPinvestor, thanks for that. I make it that they have £135 million left to spend in 8 trading days, but they always have at least 1 day a week when no buybacks occur. So £135m over 7 days. We'll see how your educated guess compares with my uneducated one.

Zac there have been 2 separate buyback schemes this year. The first one related to shares issued to employees. Are you combining the two?

Sold one tranche at £2.39 last week and another lot at £2.67 yesterday. Still heavily invested, but this is as much a trading stock for me as a dividend one. 5 months till results, with a Q4 update in January, there will be ample opportunities to trade this share.

Some rough back of the envelop numbers. With 9 trading days till results, BP has spent £852 million on 273 million shares at an average price of £3.12.

£4.00 gives a 4% yield, which for me represents a ceiling for a company in the oil business and all the associated risks. Renewables will continue to be loss making for many years to come and Looney's credibility and strategy is dependent on a high oil price. I'm cautiously optimistic for the forthcoming results, but while the trading division has bailed BP out in the past, there have been such abnormal pricing patterns I fear one or two of the majors may have made some wrong calls. I just hope its not BP.

Annalisa getting a top up with the petty cash.

CAML's group of metals today smashed through the previous acll time high price from May this year. Share price up a penny. I don't know whether to laugh or cry.

Annalisa, you don't sound like someone whose shares have gone up 50 grand in a couple of weeks. Well endowed and loaded, you've got it all buddy.

A reasonable question to ask is why there were no buybacks between 24 Sep at a £3.18 average and Oct 4 at a 342 average.

Lead and zinc are looking even perkier.

This is the right time for a BP/Shell merger. It's a perfect fit.

The Q3 2020 numbers in comparison.
Brent averages $42.94
Henry Hub $1.98
UK gas 21.06 pence a therm!
Refining margins $6.2

In comparison, a reminder of t

Defensive & Paranoid, a.k.a Mark & Mojo.

Mark, since you've been posting I've found your daily mood swings and tortured angst act, self indulgent and a chore to read. I also fear it has cost punters on here money. My opinion is your a phoney. Congratulations on the title though, I obviously can't question your wit.