Member Info for DrPatience

Gamestop was based on fluff, RR is a real, solid business with growth coming, including hopefully within the SMR segment.

The share price may well follow a similar trajectory.

I have not checked, but I am doubtful any hedge funds are holding large shorts in RR!?

Spondulicks: "They may as well resign themselves if they do so." - Yes, please!!

I am not against renewable efforts, especially within liquid and gaseous forms, though. BP should not become an extended arm of politicians, gobvernments etc. at the shareholders' expense, then they should simply nationalise and see if they can do better. It just needs a bit of a reset and the CEO situation is clearly totally unacceptable. If not, then I will look for the next high and move my cash into Shell. Just fits me better if no change here.

Keepplugging et al: yes of course Growup is entitled to his/her opinion.

I would agree with Scott1k though, albeit in slightly more polite terms, that if someone is so unhappy, makes allegations of fraud being committed etc, then it is really better to sell and move on. Life is too short.

Egon Zehnder will be under the radar, confidental stuff. Very very expensive, but probably the best you can get.

Unlikely small guys and gals like us will ever see a job spec or get any info on the process. That's fair enough, but I have no faith in the board as a whole; some members are probably alright.

I am really struggling with the invisible, weak chairman and effectively having a non-exec undermine BP bidding for further NS licences when you at the same time have around 20 million households in UK heated by natural gas. This is a national security issue. Full stop. Sackable offense in my world.

"Aviva has slammed the government’s decision to expand oil..." City AM

Courtesy brummy_git over at ADVFN:

https://www.youtube.com/watch?v=hOsXNm-r3LQ

Worth watching. I feel this has been a big reset and looking forward to results going forward!

Great, Growup, see you in a couple of years. All the best,

Meoryou, a very good, but damning read.

"In the aftermath of Looney’s departure, chair Helge Lund favoured an internal hire, but 10 weeks later no preferred candidate has emerged, according to people with knowledge of the process."

Hopefully large shareholders are pushing back including evaluating the appropriateness of each board member.

Otherwise, it is just money for nothing!!

Those who jumped on the Orsted green story burned their fingers. Just check the share price.

I invest in both JLEN, UKW and other renewables funds, but companies really need to stick to what they are good at.

Or the last desperate measures to cling on to their board positions...hoping it will send exactly that message, Meoryou!

I cannot see large shareholders being overly happy with the current mess and I sincerely hope the board, including the chair, is under serious pressure. BP is fundamentally a great company, but clearly a share price underperformer vs peers. The fish rots from its head and large shareholders are not idiots. The issue is whether then can get their act together and shake the tree!!

And for those who want BP to stick to the knitting they know best (including areas where they have competencies within renewables), just the check the board and reflect on whether they are good to have on the board.

from https://www.avivainvestors.com/en-ch/views/aiq-investment-thinking/2019/06/bp-vote-demonstrates-power-of-engagement/

"The resolution, which Aviva Investors co-sponsored with Hermes and L&G, requires the company to evaluate whether each new fossil fuel project is consistent with the Paris Agreement." Well that means no more exploration, it is as simpel as that. Just think about it. Surprise surprise, Aviva's CEO is on the board and also recently made comments publicly about BP: "New oil drilling puts UK climate goals under threat, Aviva warns".

My wish for Christmas is Shell making a move. Better leadership and a better balance in terms of the future changes.

Exploration, believe it or not, he is also chair of Novo Nordisk, a hugely successful pharmaceutical co.

The usual gravy train, it seems. Doesn't command any respect!

"Barclays' share price has fallen 26% since Venkat took charge on Nov. 1, 2021, while Deutsche's shares are little changed and HSBC's (HSBA.L) have gained 37%."

"Venkat signalled on Oct. 23 that Barclays will embark on further restructuring in preparation for its Feb. 20 presentation, which is seen as a key opportunity for the bank to convince shareholders that it has a plan to lift its valuation."

Time for them to man up and become very clear about how they are going to get this back on track! It's a fine bank in my view, but a fish will rot from its head!

FD, fair question, very fair indeed.

I guess we all have to decide how long we can be bothered waiting. I am personally waiting for either good news or bad news, as it may be. Something has to break either way. If a deal is made, we will now as soon as it is done. Bad news may be whenever they realise they cannot make a deal and hence will need to find cash to fund the 2 drills next year. The latter is not really possible in my view, so must create monetisation event or it is potentially game over in terms of the current operating model.

BadA, as long as they are working on some great deals, then it is OK for me to wait. However, the silence is unusually long, in fairness. I am surprised they are not doing something around the the geotechnical drill, reportedly about to start soon. I have not looked at where the ship is, but should soon be underway.

I have written to them in the past and they were very responsive, with the caveat that they cannot divulge insider info. For now, I prefer to just wait, however frustrating it is, as I prefer for them to really focus on getting a deal done. At the end of the day it is a very small team sitting on some huge assets! The management team only stands to gain quite substantially from doing good deals. We need to have faith in them.

Oth, interesting perspective, I guess you use a forward value multiplied with a current value (either way)? I am not so sure if this works without looking at P/E trends for the company and peers, the company's performance, etc.

Anyway, I agree with the conclusion though, even with everything else being equal, the prospect of lower interest rates will do the job during 2024. 7-8% yields don't look that attractive now, but will do when you can only get 1-3% on cash...

Clued, I have tried in the past, but it is rather difficult to get to both directors of the company and to get to those fronting up for investors. Even if you do get to them, it is almost certain they will not reply. However, I guess if they got hundreds or thousands of emails it would probably make an impression. Not sure how to organise it though, I am not really using social media, which probably is the only way of doing it (i.e. publish the contact details to a large group).

In the first instance I would invite as many as possible to write to investor relations at BP: ir@bp.com

Happy, that just so spot on; thanks for sharing!

What can we do as small shareholders? I am not sure how/how much it takes to put forward a special resolution for a vote at either the next opp or at a specially called meeting??

In reality the board needs to be replaced, it feels wrong if the large shareholders are not thinking the same.

BP is a great company with great employees, but as we all know, a fish rots from its head!!!

Weirdpal, I agree. It is grotesque for a board of a large plc not to have a robust succession plan in place. Unforgivable, in fact!

Daytradenovice, a fair point!

Developing mines take years to decades to develop. The original Teck deal was a "landgrab" attempt, but clearly became a half deal. Still a good deal.

This is what was reported back in Dec 22 in mining.com:

"Nagle said that Glencore could lift its annual copper production by more than 60% from current levels of 1 million tons with expansions of its current assets. The company is also eyeing a $5.6 billion new-build project at El Pachon in Argentina. "

Capacity up out sleeves! No point point flooding the market until demand grows. Patience will reward us all!

$60 per barrel is a double edged sword in my view. Shale guys will be very unhappy and lower production.

Yes an irritating and frustrating wait, BadA. Targeting, deciding key prospects, negotiating and contracting is quite an involved and not that fast process. I would rather wait a bit and they get the best deal possible for all of us. Let's see, nothing is sure in this world!

However, farm outs are absolutely still possible despite the many political headwinds; we don't need to believe in unicorns anymore!!

From ii:

"Jersey Oil & Gas PLC, up 22% at 239.8 pence, 12-month range 146p-336p. The upstream oil and gas company focused on the UK Continental Shelf region of the North Sea agrees to farm-out a 30% interest in the Greater Buchan Area licenses to Serica Energy UK Ltd. Once complete, it will hold a 20% interest in the licenses, and a fully carry on the capital expenditure needed to bring the Buchan field to production. Says the terms are identical to those completed with Neo Energy earlier this year. The combined cash payments from the two farm-outs will be over USD18 million, with a further USD20 million due once the field development plan is approved. "We are thoroughly delighted to announce the farm-out transaction with Serica Energy. Not only does it bring a further high-quality partner into the joint venture, but it unlocks exceptional value for the company and delivers upon our overall objectives for the GBA farm-out strategy," says Andrew Benitz, JOG's CEO. Serica Energy PLC rises 2.4%."