The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I just posted this (below) on the BOR chat. I thought I should also post here.
A few months ago I posted that I'd got out of 2/3 of my ENQ holding. Now I've quit on the final 1/3. I believe in the company, but until politics change I think the company is moribund, despite some good operational news. I would be happy to, and indeed will, get back in to ENQ again when the time is right. For now, GLA and especially GLALTH.
See note posted at BOR below:
Correct. The 650+350 (650 Non-ISA and 350 ISA) was me. About 30k GBP. Nothing very unusual, but for the sake of information, I finally gave up on my remaining stake in ENQ, which I consider to be moribund. North Sea has no immediate future, although I believe ENQ is a great and well run company, and I'd be delighted to get back in there at some future time, I cannot stay with ENQ in the current UK political attitude towards North Sea and insane windfall robberies. I sold 2/3 of my ENQ a few months back, today sold the remaining 1/3 and bought 50:50 BOR and CHAR.
So, I'm with you now, GL ENQ, GL BOR, and of course GLALTH.
Fin
Correct. The 650+350 (650 Non-ISA and 350 ISA) was me. About 30k GBP. Nothing very unusual, but for the sake of information, I finally gave up on my remaining stake in ENQ, which I consider to be moribund. North Sea has no immediate future, although I believe ENQ is a great and well run company, and I'd be delighted to get back in there at some future time, I cannot stay with ENQ in the current UK political attitude towards North Sea and insane windfall robberies. I sold 2/3 of my ENQ a few months back, today sold the remaining 1/3 and bought 50:50 BOR and CHAR.
So, I'm with you now, GL ENQ, GL BOR, and of course GLALTH.
Fin
Of interest in The Guardian via Tim Worstall: A Jersey-based oil-refining company is suing the EU, Germany and Denmark through ECT. Features epic wailing from EU apparatchik.
https://www.timworstall.com/2023/11/lying-bastards-thieves/
Fin
I made my trades today because I had the funds ready today. I have no particular news or knowledge that others here don't have, but Momo's summary broadly covers my reasons for adding bigly to my holdings today.
Doesn't mean news won't drop soon, but I wasn't acting on anything not public.
Folks,
I've been in ENQ since January 2018, but the time has come for me to reduce significantly. I do see that ways of realising returns for investors exist, but the headwinds are many, and for now we are in the hands of idiot politicians and enviro-fantasists. I've hit the sell button in the last few minutes.
I've had a philosophy for a while that when outnumbered by fools (or at least when those who have all the influence are fools) there is little value in fighting them head on. Better to avoid. I can manage this in my private life. I can't avoid them in my professional life, but I'll retire early (FIRE) in 12-18months. I am now going to avoid them in at least this part of my financial life. Think of it as another II exiting the NS. There are other oil stocks to be in where the returns will depend on the fundamentals and the global POO rather than deep green nonsense, so I'll take the 30% loss on ENQ today.
So I'll pivot 2/3 of my holding in ENQ out for now. It's always possible to return when and if the political winds turn to reality again, but there is potential being missed elsewhere every day I stay in ENQ. I'd love to come back when the companies performance may actually be reflected in Shareholder return, but as I'll keep 1/3 I'll be lurking on this board and watching general ENQ news. I'm hoping that as we get closer to the next UK GE options might arise.
Good luck All.
Fin
Further to this, the Oil part of my PF is RKH, ZPHR, TLW, ENQ. I'm around 15% underwater overall across these today.
In potential terms:
1. RKH - Potential depends on SL as we all know. 5 years plus
2. ZPHR - Potential depends on drilling program results in short term. 1- 2 years
3. TLW - Potential re African etc. deals and exploration. looking shaky at the moment. 2-4 years
4. ENQ- No significant potential until end of EPL although everything else is in place, so might be worth accumulating. 3+ years
Just my highest level opinion. As ever the risk ranking is probably the reverse of the potential.
Fin
Hi Silverfoil I meant to type RKH in my earlier mail about buying at 13.7, but typed ZPHR by accident. As it happens I had ZPHR on mind as I added another small buy in ZPHR this morning, so yes, I'm in to them both. Slightly reducing holdings in ENQ/TLW while I can still break even on them, but won't be adding there again until EPL/Kenya woes respectively are sorted, if ever.
Paul, I wish I'd bought yesterday at 11.7 and ZPHR had closed at 13.7, rather than the other way around! Immediate 2p loss sounds dreadful, but I tend to invest as soon as the funds are in the broker account and not get too fussed over timing during the day. It's worked both ways over the (last 25) years.
I'm aiming for early retirement in mid 50's at the end of 2024, so I won't be adding fresh funds to my portfolio much after 18 months from now. My timeframe for RKH to come good is probably 5 -6 years, and I'm in slight profit on my average buying price now, so I'll have plenty of patience for first oil in .....let's say 2027 ? :-) The confidence booster about RKH overall that spurred me to invest more is absolutely the Navitas leadership.
Fin
Finally executed, at 13.7p ! As I've said before, I hope and expect that in the future, a tuppeny difference between paying 13.7 and coulda/shoulda bought at 11.7 last week, will eventually seem unimportant.
GLA