Member Info for Charlie156

They also said in the same statement that Q3 had seen 27 Kounrad workers test positive for Covid-19 and the workforce had been reduced by 40%. With the autumn/winter ahead I cannot see a dividend being paid

Looney's job is to deliver shareholder value. He was the main proponent of the BHP deal, which has destroyed shareholder value. Now he evangelized over a transforming move into renewables, where BP is not proven. If BP is selling oil and gas assets, return the cash to shareholders and pay off the debt. I dread to think what the share price will be when the Irish schmoozer gets sacked.

Hope for the best, prepare for the worst. I'd expect one of the mines to close in the months ahead. Shareholders would be unlucky if both were shut down. In that scenario CAML need $8 per month to run its operations, which includes paying down the SASA debt. If they don't pay an interim dividend in September they should have enough cash in the bank to get through. Come next April, if metal prices hold up and the world has found a way to live with Cocid-19, I'd expect shareholder patience to be rewarded.

Gearing a pleasant surprise.
With net debt of $41 billion, and a target of $35 billion, share buybacks are clearly in view.
There are going to be lots of oil and gas assets being put up for sale by the majors, though BP remains committed to Rosneft.
It's the right time for a BP/Shell merger. They are embarking on the same journey at the same time, and will have more chance of succeeding together.

Tymers, I'm a firm believer in karma. Whatever misfortune comes your way, will be richly deserved. God help all prospective Turkish shareholders.

There is no logic to a dividend cut, if the idea is to manage it throughout the cycle. It was only in February that BP increased the dividend. They didn't cut it in April when Brent was $18 and the oil market was in meltdown. Today, Brent's $44 and BP's 2021 balance point target of $35 a barrel is in sight. Bp is in robust shape.

BP has access to over $30 billion of funding, it has recently sold over $10 billion of assets and has cut its 2020 capex by $3 billion. BP is swimming in cash. Brent is averaging over $40 so far this year, which is not too shabby considering the oil market crashed March to May. The market is demanding a dividend cut, and as the next results will be horrendous they'll probably get it, even though BP unlike Shell can afford to maintain the dividend. A

Investors would be very unlucky if both mines closed. If one does close. CAML should be able to service the debt with the remaining open mine. The shares are cheap, even allowing for that risk. Well managed, but I'm getting tired of saying that. Some investments are just unlucky, I bought BP the day before the Macondo oil spill.

CAML usually update the market on the second Wednesday in July. They ended 2019 with gross debt of $108.8 and cash in the bank of $32.6. With no dividend paid(last year 8p is circa $17m) the balance sheet should be in good shape. Gross debt of circa $90m and cash in the bank of $35-45m is my guesstimate.
With Kazakhstan reentering lockdown, we'll have to wait until September's interims for more light on the effect on its mines and dividend policy.

Looney comes across as a schmoozer. In trying to please everyone, he'll end up satisfying no-one. Brent $43, BP share price £3.08. If Dudley was still in charge, the share price would be higher.

Is America going to be a graveyard for another British company? Too many questions arise from these results. DS Smith is well known for its volatility, it'll be off the scale now.

When CAML posted results on April 1, copper was $4774 a tonne. Today it's over $6000, with zinc and lead also showing double digit increases. They stopped the dividend, due to Covid-19 and the possibility of their mines closing. On April 1, Kazakhstan/N.Macedonia reported380/354 cases and 3/11 deaths. Today those figures are 21,819/6334 and 188/302. The numbers are escalating, and the risk to their mines has not gone away. I'm struggling to see how they can restart their dividend, if that's the case.

GLS will not be sold
UKPIL is a car crash
Mr Kretinsky will lose a lot of money.

RMG holding up quite well today. I think the carnage and bloodbath is being kept for tomorrow. UKPIL is a complete mess, its cost base for its revenues is far too high, and I can't see it being addressed anytime soon. To borrow a golfing analogy 'parcels are for show, letters are for dough'

Teslo, I always recommend Redceo posts. For someone with his singular lack of self awareness, a guaranteed car crash is sure to follow. As for emmjane/fruitster, I noticed on the BT forum they were posting about their market expertise. The resulting evisceration by a poster already tired of their BS was a joy. That didn't take long!

Trying to buy and sell this stock the last couple of days has been an absolute nightmare. Pitiful mm service.

It wasn't that long ago that 7.4 billion shares were in circulation. Now we're heading towards 11 billion. Who wants to join me in tearing down the statue of SS at UKOG HQ ?

This RNS serves the same purpose as previous ones, to keep the gravy train for SS going at the expense of ordinary shareholders. I bet he can't believe his luck that he's still getting away with this.

Sold 2 of my tranches here today. Embrace the volatility.

Weebadbaz, I'm not overthinking this. I'm investing on the basis of the dividend and oil and share price. Worst case scenario, BP cut the dividend by 50%, and these yield 5%. Oil at $38 supports the present dividend. These numbers work for me. Each to their own though. Actually worst case scenario would be a Macondo 2, but I've been through one of those already and witnessed the company get rinsed.