Member Info for dflynch

This has been the stock prediction forover 60 years.

Simple reason was the future oil exploration horizon was 30 years - probably still is!

There is plenty of oil - its just a matter of how much you want to pay to find and extract it .

Then of course the UK had coal reserves in excess of 200 years at peak consumption back in the UK industrial era.

Who needs wind when clean environmental technologies are available and could safely use existing fossil fuels.

I wonder when the "greenies" are going to turn their attention to the environmental problem of disposal of all the batteries they are going to need to fullfill their dreams. That of course assumes that they continue to ignore the hidden issues of obtaining rare earths!

PLAN B!

Why?

The HIGNFY Team at No 10 never had a PLAN A!

It has all been knee jerk reaction to an issue that they allowed to get out of hand - as the future "blame game" will highlight.
Past Government planning, and the ability to plan and prioritise, was thrown out of the door in April 2020.

The question that now needs an answer is what is the major focus driving current HMG planning and priorities to deal with the CV19 issue?

Is the focus to be:-

Eradication of the virus in all its mutant forms ignoring all other issues.

Removal of the current dystopian restrictions in order to get the UK economy and life back to pre-CV19 normality.

Necessary measures to remove “pressure” on the NHS in order to preserve the organisation in its current form - to the detriment of other existing UK healthcare priorities and issues.

OLD NEWS

October 2020

Try and keep up!

Did the FCA explain how liquidity was achieved - what magic do they employ?

Take 100,000 shares in a company issued and owned by entities various - many held in stewardship by brokers involved in their sale and purchase on behalf of their true owners. Only the company can increase their number.

Liquidity can only be created by a true owner selling.

Increased demand for a company’s share will surely create liquidity when the price of the share increases, until they are sold by a willing seller to a willing purchaser, a statement which used to define a true market.

The prisons are full of those who sold or lent that which they did not own! But that simple statement ignores the magic espoused by the FCA.

Can someone explain, to this simple trusting mind, the mysteries on which the FCA rely?

Surely receipts from their undersea treasure will be in $, and this would allow the exchange risk to be managed by not converting to sterling.

Of course, HUR 's finance gurus will have this in hand and already have a better solution!

Not sure if Hurricane are able to employ that tactic.

But if I was writing a block-busting novel about a fictional oil company (FICCO) in similar circumstances to say Hurricane, how might I develop the plot to deal with the financial issues in the story-line.

Let’s say FICCO has used CB’s as part of past financing and these will be due for repayment some 18 months hence at par, a problem exacerbated by the collapse of the underlying share price. At the moment the CB’s are heavily discounted in the market but FICCO is prevented from purchasing them piecemeal.

However, I speculate; a third party can!

Now my story would need a knight errant to come to the rescue of FICCO and purchase the CB’s and be willing to extend the CB maturity. Such a knight would not be an existing major shareholder – main reason being they would have invested in the CB’s originally. Could the knight be a new investor, very doubtful as they would operate in their interests and a straight forward bid for FICCO could be more advantageous.

So how to get an interesting twist into the narrative.

Idea!

FICCO finance department hatches a cunning plan. They persuade Big Broker LLP (BB), their broker, to purchase the CB’s in the open market as part of their normal activity.

The agreement requires FICCO to make commercial loans to BBLLP to cover the purchase costs incurred and the purchased CB’s are held as security for those loans. This prevents the CB’s being further traded. Being CB’s BBLLP does not have to declare the number or percentage that they hold as they are accumulated. Over time the CB’s are removed piecemeal from the market and the Maturity risks to FICCO associated with the CB’s reduce. Eventually the issue of the CB’s becomes irrelevant – there would be other issues in the story-line to be dealt with – if it’s to be a block-buster.

I am sure the better informed will now shoot down my storyline for all sorts of technical reasons of which I am currently not aware. Grateful if that were to happen

Oh, for the end of lockdown and the opportunity to occupy my mind properly!

RNS dated 30 Jun 2017 Results of Convertible Bond Offering

See earlier - Second paragraphs might be helpful!

"to redeem all, but not some only, of the outstanding Bonds:...."

RNS dated 30 Jun 2017 Results of Convertible Bond Offering

Extract
“The Bonds will be issued at par and carry a coupon of 7.50 per cent. per annum payable quarterly in arrear in equal instalments. The Bonds will be convertible into fully paid ordinary shares of the Company (the "Ordinary Shares") with the initial conversion price set at US$0.5200, representing a 25 per cent. premium above the placing price of the Concurrent Equity Placement, being £0.32 (converted into U.S. dollars at a GBP/USD 1.30 rate).
Upon conversion of the Bonds, the Company may elect to settle its obligations by way of delivery of ordinary shares, payment of a cash alternative amount (calculated by reference to the volume weighted average price of an Ordinary Share over of a specified period) or a combination of the two.”

And

“Unless previously converted, redeemed, or purchased and cancelled, the Bonds will be redeemed at par on 24 July 2022.
The Company will have the option to redeem all, but not some only, of the outstanding Bonds:
· at any time on or after 14 August 2020 at par plus accrued interest if the value of the Ordinary Shares underlying a Bond (calculated over a specified period) shall have been at least US$300,000; and
· at any time, if 85 per cent. or more of the aggregate Principal Amount of the Bonds originally issued shall have been previously converted, redeemed, or purchased and cancelled (the "Clean-up Call").
Settlement and delivery of the Bonds is expected to take place on or about 24 July 2017 (the "Closing Date").”

The problem with Jet2 is not the business model, the product, employees or BoD.

They have set the package holiday GOLD standard – a good profitable product delivered effectively to a consumer who sees quality and value for money. Customers are happy to lay down a deposit to secure their Jet2 holidays. Unlike others, Jet2 has been outstanding in dealing with the problems of CV19 - offering their customers flexibility in delivering that promise of that holiday that they increasingly need.

But the problem surely is that it was never expected that the HIGNFY team at number 10 would continue with its dystopian strategy for so long! A strategy that would increasingly negatively affect, inter alia, the Holiday business sector in such catastrophic manner, over two high revenue / profit Summer seasons!

Whilst the customers were willing to leave their deposits with the company, in the certainty that they would eventually get the holiday in 2021, or a return of their deposits, this willingness can surely not last for ever. Customers will be facing increasing financial strain as a result of the economy being de-railed in order to save the NHS! Might financial necessity require the deposit money be in their bank accounts rather than Jet2’s?

If a request for the return of deposits on a large scale were to occur how badly would this “flight of cash” disrupt the Jet2 business model? Is Jet2 facing the situation reflecting that of the Northern Rock or Neil Woodfords problems? I hope not – but it is an increasing concern at present.

If it is not clear within the next two weeks, or so, that the holiday season will operate at full tilt from April onwards then it will be increasingly doubtful that Jet2 will be able to make stable profits that justify the share price. Clarity will not be in the form of an assertion from the HIGNFY team at number 10 – a team that seems to have failed in all aspects of its promises since the 2019 General Election only validating my Gran’s observation that promises are like pie-crusts – easily broken!

And the Shetland Islands want independence!

Speculation

Spirit wants out but couldn’t previously find an investor to take over because of the news coming from the BoD!

Now CA gives their very positive outlook as a major share/bond holder – effectively inviting all and sundry to the party – ie. replace Spirit

Consider how Spirits investment was supposed to – but didn’t - assist HUR in developing the vast amount of oil lurking in WOS.

Yes, the BoD need encouragement, and CA’s input should be the public catalyst needed to move this investment on.

Forget a cheap buyout – would you vote for it! Look at the prospects- hold the faith in the asset if not the BoD!

As previously said – speculation – DYOR and thinking.

In the Guadrian.

https://www.theguardian.com/environment/2021/jan/23/how-wildlife-crossings-are-helping-reindeer-bears-and-even-crabs-aoe

The problem is the return.

Is BJ going to inflict hotel quarantine at the holidaymakers expense?

A magnificent 14 day holiday in Spain followed by 10 days in a crappy Leeds motel - at double the cost of the holiday.

Opportunity for Jet2?

Package holiday all inclusive 7 days in Spain followed by 10 in Bestwest Leeds!

Interesting appointment.

Always rated CFU - Blue Gen as technically and commercially streets ahead of CWR.

But it never happened and look at CWR SP now!

VMT for the information, very helpful for everyone.

A reminder from The New York Times 1971

LONDON, Feb. 4—Rolls-Royce, Ltd., Britain's quality symbol for fine automobiles and sophisticated jet engines, declared bankruptcy today. The public reacted with consternation and politicians called it “a major national tragedy.”

The company put the blame for its collapse on the huge losses incurred in developing the engine for the Lockheed Aircraft Corporation's new Tristar airbus. Rolls said it could not proceed with the engine under the present fixed-price contract.

The Conservative Government quickly announced it would acquire and maintain those Rolls engine operations it considered vital for national defense, joint military programs with other countries and air forces and civil airlines around the world.

Possibility of Lawsuit

But the Government left open the question of the illfated Rolls aircraft engine, known as the RB-211, and said it would explore its future with the Rolls receiver. At the same] time, the Government recognized the damage to Britain's commercial reputation and the possibility of a huge lawsuit by Lockheed.

The necessity for the product to “dwell” before becoming effective is a new one on me. Surely contact and wipe is sufficient?

CSVP - If it has to "dwell" how long?

Comrade

Europa Oil & Gas (Holdings) plc, the UK, Ireland and Morocco focused oil and gas exploration, development and production company, is pleased to provide an update on the development of the Wressle Oil Field ('Wressle' or the 'Project') in North Lincolnshire which remains on course for first oil by the end of January 2021. Wressle lies on licences PEDL180 & 182 (the Licences') in which Europa holds a 30% working interest alongside Egdon Resources (30% and operator), and Union Jack Oil (40%).

You may find some answers on the Byotrol BYOT board which has information about sanitisers for hands, surfaces pets etc!

They appear to have products that give surface protection for up to 24 hours.

DYOR

Centrica is divesting Spirit - see CNA BB.

Uncertain as to the ramifications of this, particularly on HUR