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May I suggest that Blakeley gets his finger out and comes to London in November. Investors have had a few days to reflect and they ain't impressed. Baillie Gifford are continuing to sell large amounts of shares everyday. That's the thing with a JSE RNS, on first reading it sounds rather good, then when fully digested, you start to feel a bit queasy.
The Dec 22 dividend was 6.01 cents. There have been two 10% increases since, to 7.27 cents for Dec 23. With circa 7% less shares in circulation, they are listening to shareholders. I expect another 10% increase to 8 cents in Feb. I'm rather partial to a Murray mint, and their slogan of 'Murray mints, Murray mints, too good to hurray mints' is apt for our CEO's dividend policy. Patience is required, remember 'you can't hurry a Murray'.
Thanks Exploration. Regarding E&P for BP in the future, they have said they will be sticking to the areas they are presently operating in. The gargantuan Vostok project promised to use all of those world class skills BP possess, but that's not happening, for now anyway. Looks like Kaskida will get FID approval in 24, another challenge for BP, and one I'm sure they will conquer and add to their rich history.
I always wondered with the BTC pipeline ending in Turkey, what else was going on there. Not much, by the sound of it. The ACG field is well past peak production now, anyone know how much of the 1 million barrel BTC capacity is in use today.
I welcome the appt of Dr Karl Pfaff as GLS CEO. Promises, promises,promises, heard it all before. The UK business remains a mess and throwing a bone out there for a FY modest dividend will not placate the market. I just wish they'd stop pfaffing about.
Your exclamation mark laden posts and language BOOM, BUY 1 GET 2 FREE, etc indicates your a chump of a Ramper, shareholders like myself who are suffering the consequences of woeful mismanagement have learned the hard way here.
Welcome to the world of a JSE RNS, where the word disingenuous is probably the kindest you could use. Production from CWLH is 1800boe/d so far in 2023, Blakeley has made this rollercoaster an even more hazardous ride.
Starting to think Roxi is Blakeley's love child, conceived on the Montara FPSO. They say never fall in love with a share, you've gone way beyond that stage.
Roxi the Ramper has really gone into overdrive the last few days. Baillie Gifford are selling everyday, and with a 7.8% holding that will stymie any rise in the share price. If they want to get down to 3%, that's another 25 million plus shares to come.
CWLH was producing 2366boe/d when JSE acquired its initial stake for $82m upfront decommissioning costs. Production this year has fallen to 1800boe/d and the oil price has dropped as well, yet JSE has got to pay $102m upfront decommissioning costs. The field produces revenue of circa $50m a year, with opex costs of $2 per month. This will used in awarding Blakeley his 2023 performance bonus, but shareholders will have to wait a lot longer for a return.
The 30 barrel oil spill is factual, as confirmed by JSE at the time. Note that JSE is the only one having to pay into the decommissioning fund due to its credit rating.
Blakeley is the man who turned a 30 barrel oil spill into a £300m destruction of shareholder value. His performance over the last 17 months has been abysmal, yet somehow was awarded a performance bonus for 2022, as no doubt he will for 2023. There is an institution selling here everyday, and trust has evaporated. The feeling persists that a JSE RNS does not tell the whole story.
If JSE acquired the PTAL CEO, the shares would immediately rerate. Comparing the 2 companies is foolish, PTAL have numerous challenges but they have a CEO who delivers for shareholders.
You don't agree with MA becoming CEO, you don't agree with BP's current strategy. My advice is sell the shares, because the strategy ain't changing and MA will be appointed the next CEO.
Market largely unmoved by today's update. No mention of what tanks were now operational on the FPSO. There remains a lack of trust in the CEO which will take some time to disappear.
What was he skewered over. More facts, less tittle tattle.
Bemused by the market reaction. Topped up first thing, the CEO here really is outstanding.
BP ordinary shares in circulation dipped under 17 billion today. They went under 18 billion on 27.02.23. Solid progress.
Zero for first 6 days, 31,436 barrels for Nov 7&8.
I wonder what Looney is up to. Could be the next Exxon/Chevron CEO, then put in a cheeky bid for BP. It hasn't been the same without him, I kinda miss the old rogue.