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Meoryou. You comment re the lack of the anti mob I think is a good question. My only view is that the moment anybody says the words "Settled science" I simply keep quiet ( ther is no such thing as settled science it is a political inventions of dubious validity) What is clear is that a lot of opions are about -some from scientists some from business and some political. Take a simple, statement. "The world is 4 degrees colder than in medieaval times" leading to "the earth is cooling" The first part is recognised as being about right. The second part is judgment ( and was in vogue a few years ago). Now take "the earth is warmer the to beginning of the industrial age" - "so the earth is warmiong up" This is generally agreed as about right This is the current in vogue belief. ( You can look at CO2 levels in the same way) so from a science point of view the future is about beliefs based upon when you measure from as your base line. It getting complex now as you have to add in both the political and the business elements which are based on? Now come the trickey bit. Just what should the worlds population be listening to. Answere that and perhaps you are a God.
BP have real expertise in O&G rest is basic business - What they are not is any better at renewables than anybody else and in many ways they will be worse as due to its size it can not react in a nimble way. Its only advatage is that it has some spare cash it can afford to loose (which I admit may give it political favour on the world stage at present) which may give it a return but at present is postage money in the near term.
It all comes down being sucessful in business and having the right leadership. I can see BP selling of its renewables in the mid term. Its not what they are good at. My own opion of course.
As to if if renewables can replace O&G in my life time. Thats anybodies guess but I have my views
Fair dealer. Just a point of clarification please. Do you happen to know where we are re the valuation cycle? There is the statutory valuation every few years and the yearly? Many years ago I was a District valuer and shall I say politely that my then valuations were perhaps a little different to the values by some well known names in the business. All I would say (so not to upset some former collegues) that the yearly valuations untimatley they are not a cut and paste into the accounts! Not for the first time now I have been retired I have been able to challenge at an AGM of the company with the noirmal result being a shut down of the subject in public followed by an instant invitation for a chat with a senior director beginning "How come you seem to know a lot about this?" My final point I would wish to make is that after a full and frank conversation In more than one case it has resulted in a change in the property valuation in next years accounts thus a change in the value of the Company.
My last point is that Property when it perhaps seen as secondary to the main businesss of any company can be over looked. If mangaged well it does effect many things including taxation. loans and dare I say it image etc of any Company all of which efects us as shareholders. Just looking at the bottom line never tells the full story.
Well something is wrong within the Vet industry. Here in my neck of the woods vets charge between £250 to £550 for the same procedure (Spading of a medium size dog) the other issue is the price of drugs ie the % mark up by vets vary a lot. As to if vets are making excessive profits I think that is full of too many variables rents etc. I think this is a bit of a market over reaction but what do I know
Cogs
Have taken your suguestion but something seems wrong I have tried Asprin mixed with Jonnie walker. Bloody aspin will not desolve! any suguestions?
PS Do you happen to know of any good books that advise on investing on the AIM market or better still off market oil Companies? The ones I have seen are all out of date?
Hi Cogs Good to here you still poke your nose in. Your write is full of sencible commentary, However whist you are quite right to hightlight the good works of many. However it really must be said that your own contribution has been outstanding especially where there have been engineering issues and you have a gift for expalining the technical issues to idiots like me.
Lets just hope that at some point in the future those skills can come to the fore and looed can take a well earned rest.
I would like to add just one more point. Remebering those days when all called ourselves a "Band of brothers" . I remember so well the first time a number of us were actaually able to put a name to a face over a beer or two made then and for some still true today some good friends all bound together with both commen interest and a desire to be helpfull to each other outside that common interest.
We were that "band of brothers" adding what knowledege we indervidually have freely and openly and much against the odds that "band of brothers" has stuck firmly together - truely remarkable.
Its no over yet and look forward to (with a following wind) a probable recovery of the Company and hopefully a return of all our initial investments and hopefully a profit. Too many us of have had rather more downs than ups I just hope everybodies fortunes have a strong light at the end of the Tunnels.
Happy days then
Pity I did not know you were coming would have been happy to meet up with you
Whilst acepting the importance of Uncle Sams representative in trying to use their influence in the area. This is such a sensitive area in geopolitical terms it would be good if we actually knew what the others were up to and there attitude is (under instruction from their Governments) ESPECIALLY the UK representative. The pressures on Georgia are immence with real threats from both China and Russia and possible/percived threats (in diplomatic terms) from other Countries.
My own perception is that Georgia at the Government level simply does not know which way to face at present which always results in stagnation in terms of alligments. Georgia wants inward investment but from whom and when? As far as we are concerned (and leaving aside our own little difficulties) Big oil and gas do have experience of operating in challenging areas but more so in the past, it will be all about present day risk assesments which may sound negative however the balance is the BP did invest in the huge gas interconector which is not fully utilised and is not that far away form us and they did the the OK to just pour the gas in as it was clean enough to not need much processing (others wil have the expertise on this). I have often though we as share holders should actually find out what the attitude of our Ambassdor actually is! on paper at least one of their roles is to support UK PLC and the UK still has a large interest (and skill base) with BP and Shell (and others) moving away from their excessive green policies and of course they are sitting on a pile of cash.
Hi JME. Baically yes. Charles Dickens who was a regular visitor descibed it as Londons green oasis. The area was until recently all leasehold properties but now under the Athourity of the Dulwich estate (similar to the Grovnosnor estate). It was puchased by Edward Alleyn in 1609 who founded the education charity and basically set all the ground rules for the managment of the land. They give away about £12,000,000 a year mainly for education but other good deeds as well. 11Mins by train from Victoria yet 300 acres of ancient wwood land, golf course, and vast areas of sports fields. The Art Gallery is stunning and very valuable (formally the polish royal collection - it was donated!) I could go on as I was born and educated there and still live there but going Dulwich College the history was rather rammed down my neck! As a bit of fun as a kid I was sick all over perhaps the most important first folio of shakesperes works! It was just lying around in the school libary -how times have changed- have a pint in the crown and greyhound in the village (known as "The dog") In truth it is how most of London was until the advent of the Railways a series of villages surounded by farms. I can still remember the last farm just now a council estate on the edge of the estate.
Sorrey for the spelling mistakes! I was ranting
I am getting very fed up with those who seem to want to just have a go either at others or with the Company it self ( I will explain this) There are infact very few of us who have any expertise in what is basically an oil and gas exploration Company. I will admit I would rather go back to the days when the few experts on here where talking about well head pressures and how to deal with them etc were explained by people who had actually done the job. They were always will to educate me and I expect many others on why this or that and often why it causes delay. I learned a lot and it was ALLWAYS done in a very garacious manner. Remember they earnt a lot of money(I hope) problem solving at the well head. To add to this, some others had/have much expertise which covers the whole business from in the ground to in your tank so to speak. I am personally gratefull to all of them and hope those days come.
We are unfortunatly in a different position at present both us and the senior Director of the Comany have been duped by a former fellow Director possibly even criminality. It has basically caused a situation where most Compnies would have just folded. We should count ourselves lucky the SN is made of sterer stuff than most and is doing his best to get us back on track through what looks to me as a leagal minefield. This way outside my scope and I expect many others (most of us could not even buy a house in leagal terms) At present we should all just be gratfull for both looed and a couple of others who devote a lot of time and effort in their own time in doing what they can to keep us informed. This has also included explanations as to why there is no public information from the Company. Add to this that the Company does Comunicate without putting it self in jeopody - Most Companies would be more tight lipped I can assue everybody. I is about time time some people were a little more thankfull for what we are getting! I am sure those who are at the fore at the moment would rather not have to devote the time and effort as they HAVE to be very circumspect in even the language they use. They certainly do not have privilged information and they share what they can in a way that does the Company no harm. Thats NOT EASY!!!
I add that not as a side issue we are viutually next door to a war zone. I may say something on that in the near future but it does affect things.
I say we all have the same ambition to see some sort of return on investments - we all new it was high risk- and be more than gratfull that we are still alive at least. (Yes it may still go all wrong) but be very very thankfull for what we have got both in terms of the good people on this board and SN who seems to have a very tenacious tendancy to survive - he is after all able to just walk away and retire.
Rant over
Whilst acepting that political direction is a factor it ceratinly is not the only one. We live in a international market and LGN seem to be very aware of this. Trade deals which include finacial products opens up new markets and each Country will have different political and finacial cycles - these are all oppotunities for more funds under managment and LGN have the ware with all to enter these markets as long as they have both political and finacial nouse. If you look say at some of the large multies they are full embebed with the political and diplomatic decision makes. It realy is up to the Company just how far they go, just having a european focus (which we do not have ) is simply daft for our size and wealth the Indo Pacific rim area is now open to us thanks to brexit so this could be a really excellant share if you are a long term holder
Many thanks looed as ever. Interesting that you put the words " Couple of outsatnding matters" in quotation marks in your update. Anybody hazard a guess if the American version of "Couple" translates into English in the same way ie 1 or 2ish matters. If it does and they turn out positive this would re shape the landscape from our perspective in at least the legal definiition of of a short time period ( Ie for ever!) and we will will know and understand a lot more and with light at the end of a tunnel may even to able to return to the normal ups and downs of the active Commercial world. I predict by Xmas of this year we may be able to possible have so kind of hope turning in reality . No doubt I am wrong! Time for another Heart starter Chin Chin
Whilst I do not have any problem with Looed explanation of "slim" especially "FRC cannot continue to be a litigation-focused company now most of the litigation seems to be out of the way.
So whatever they have, I think they are going to have to show their hand soon else the other parties who have sat on the sidelines will move on."
I personally think there are more factors that have to be accounted for which again we are in the dark. To name one for example we ceratinly had very big support and pressure from Uncle Sam do we still have that? add another that one way or another we had Halibuton doing quite a lot and if zaza is still be be belived big major(s) were looking under the hood. So can this all be re energised? well I suppose where there is money and geo political influence at stake it can but when?
To add to the possible ++ I read over the week end that due to the change in Alchol tax many brewers are reducung the strength of some beers (mainly the stronger ones) which will save a price increase. Not entirley sure how this translates into the price of a pint over the counter and subsiquent profit. For me I buy beer in general for the taste but avoid rocket fuel as I am a session drinker. being used to London prices a penny or two here or there makes no difference to the number of pints I drink especially as certainly in London people pay by card so most people would not even know the price of a pint these days ecept perhaps wheatherspons drinkers. But is this the same for the rest of the country where most of out pubs etc are?
Gordon the Novice
Absolutly no isuues at at all with your corection. Those who know me will know that I do like a little heart starter before I get out bed in the morning and on the odd ocassion over do it. Age is a terrible thing and does bad things to your body I can now only do once a night what I used to be able to do all night long and even during the day if the oppotunity arises. Add in the fact me memary is going ( cant even spell now) last night I even accidently reached for a glass of water during the night!
Back to basis ( Hic) I know some people do disregard the geo politics but I still hold the view that a key driving force in the energy sector is everything from local to geo politics- ulitmately money really is not the issue over the principle desire to be energy secure for any nation. of course money matters to both us indervidually and to the Company I will never deny that but even looking at us in reality we should have gone down the pan a long time ago but normal rules simply do not apply. Any close look at us things have happened in a positive way for a long time and in my view will still keep happeneing. The only real unanswered question is will we as share holders benefit? For that one question is in my mind up for debate but lets hope so. It is all in the land of the Jabberwoky maybe?
"The time has come to talk of many things" The Walrus said. Nugh said- its Pimms o'clock and watch the test match- Nothing anybody can say until we find some more news ( PS its a lot better with a good slug of Gin in it)
Riptonk
Firstly I agree with your comments re The west. It is a complete mess and this is from my past - there was a time when the west was quite a co hesive group with much going on behind the scenes. This is not the place to explain further but take it from me that on a geo political basis the UK under Boris was doing a lot to attempt to put matters right, Sadley he was fighting an uphill battle not only politicaly (both nationaly and internationally) and also internally from many of my former foriegn office collegues. What ever his other faults he was right in taking the leadership re Russian activities and was even making some progress re china. Matters have got worse since his departure as PM. I do pick on one point though be very carefull about looking at russia through western eyes. Its a mistake that even experienced diplomats still make despite warnings from those whose job it is to Russia watch ( we sadley have precious of those now and although recuitment is taking place they need experinece and a huge mind set change to be of any use use. The one positive is that the UK did realise this ealy on sadley even th USA dropped there guard perhpas only Poland with limited resource maintined the Russia watch. as for the rest - very much no comment!!!! Too much reliance on Knights on white chargers.
Returning to our own position - dependant on what happens in Turkey and which way it blows Georgia is an important place with many eyes looking on it. It is only my guess now but I do think that will benefit us -the real question is when. We can get all our ducks in a row but if the Politics is not right then matters will stall.
Uk Gov just announced millions in funding for Hydrogen mainly for use in Industry add in the fertiliser aspect it could be of use to us. The argument is all about self relience. The intention is to use the excess energy from wind frms to produve the Hydrogen. I wonder if we will poke our nose in especially as Baker Hughes are well established in the UK?
Quit agree about negative comments on private education. Good manners start at home NOT SCHOOL. Back to buisiness - Does the now banning of Russian diamonds affect any diamonds we have? As a general comment when a lack of supply happens then those who can supply get a better price but are we too far down the track with a fixed price rm contract?