Member Info for hitman1a

...... with completion expected around the end of September. .. that's 2021.

Perhaps we could start a competition for this week. I'm going for tomorrow.

Thursday 23rd
Hitman1a

Friday 24th

There will be a new competition next week.

24p at the open , all oil stocks doing well, even BP. Guess it will come down .

Algo should take this to 24p today between 12.01 and 14.16

Suncor had their earnings call on 29 July and said at the time, they expected to complete the GE sale in September. Enquest say slated for end of September .. but imv not the last day.

Nice recovery in Brent, so back to 23.50p tomorrow.. but I noticed the Algo keeps driving it up for a couple of hours and then slams it down . Saw 23.80p today which felt good at the time.

We know.. but this time it's different.. we aren't chasing large FPSO projects .. that aren't going to plan.. and carrying old assets that aren't that good.. Best we avoid the high miles, but one careful lady doctor owner type of purchases as well.

Simple formula.. works best. . GE: more evidence required.. Law and Order special investigations team are taking more witness statements today and probably for the rest of the month..

Let's not forget about the deferred tax.. the domino effect of GE on other aspects of the balance sheet including deleveraging next year.. I agree the next 2 sets of half yearly accounts will look rosier..

Good volume today , repeat 50k buyer wanted more , but the price went up quite quickly in the afternoon. Bodes well for Tuesday,

and in Nov, UK and EU allowed to fly to US.. all destinations (and return too)

Brent a bit lower than at 4.30pm due to Dow falling (850pts..peanuts really). as expected.. no doubt Bloomberg will have a few fund managers on buying the dip..

https://www.msn.com/en-gb/money/stockdetails/analysis/fi-ao88hw?ocid=entnewsntp

38p price target in 1 yr time. dated 9th Sep 2021

The GE deal is penciled in for end of Sep.. so I expect a few to buy in now.. 23.95p eod for tomorrow.
Perhaps a 4p rise on RNS day.. which no doubt will be sold into by a few.. If it completes in the first week of Oct, then that's ok too.

Back to 23p..

Feels better , but we saw 23.79p last week so still a bit to recover.. albeit the algo seems to be in charge.

There’s also $5 upside above the Goldman Q4 $80 target in light of extra oil usage due to high gas prices , so that supports prices for the next 6 mths, It’s not even Winter yet. ........ WTF , still no RNS .

My local Tesco has run out of diet coke... I'm on my last can. I've got the same feeling as Jason Bourne gets when he's just about to run out of blues and greens. Not sure what will happen when they run out of oranges but a good recovery on Brent late Friday which gives a chance to return to 23.50p on Monday.. where's that RNS . ? Market cap just above £500m. High gas prices mean people use cheaper alternatives where possible .. like oil.

No need for any OPEC+ adjustment, US production will come back in Nov /Dec , We need to tick the GE and M boxes so when Brent gets to $80 by end of Oct , our SP gets a good run upwards to 30p

Resistance.? WTF? no RNS ?

I think Enquest prefer Thursdays. could be next one (23rd) or the one after ( 30th)

RE: GE "completion expected around the end of September" .... so could drag on into October.

but if you look closer "...with the remaining conditions precedent anticipated to be met or waived ahead of the expected completion around the end of September 2021."

Doesn't imply Mid-Sep.. but doesn't look like there is much left to do either.

I intend to do a top up tomorrow and Friday..

Also keeping an eye-out for the "1" trade towards the end of the day... for those of us who believe it signals an RNS is in the system..

Hi Simplyme

Good call , but even with Brent , I think the Algo has capped up at 23p until further RNSs.. witness statements are being prepared , Ice-T on the case.. leather jacket on.

Hi TW, I would go with AB's strategy.

1. Keep EP for the moment until we find a compatible field. Selling is an easy option.. Not many people have a spare FPSO lying about. Just look at the price of commodities like Aluminum.. If anything, the price of EP is going up just sitting in storage, so there's no rush to sell today.

2. All new drilling in 2022 have 1 yr payback.. so that's covered. I get the impression the same will happen in 2023.

The market doesn't like our depletion rates.. in the absence of drilling.. so we were sold off at the half yearly accounts date..

I'm focused on :
1. GE signed in say 2 weeks time
2. Riser fixed in Malaysia in Oct
3. Deferred Tax Comps with massive equity boost to balance sheet
4. Goldman and BOA forecasts of $75/$80 in Q4 and opportunity to hedge more next year and 2023.
5. Massive debt reduction in 2022 , equity at $1b at end of 2022. albeit we still pay interest on bonds
6. It's not about all about chasing production.. but a few new wells in 2022 help. Bob will try to fix what's broken.
7. The presentation and replies were much more friendly.. AB and JS are in a better position. I guess in the past they were trying to paint a positive picture when it wasn't really that great. Today is much better, even the atmosphere amongst employees is probably much better.. no more redundancies.. think we laid off hundreds of people recently.. not easy to stomach.

Better RNSs to come in Q4 and 2022 and beyond.. if you believe it will happen. Will wait for evidence to emerge.
Law and Order, special oil companies division are on the case.

Just paid 22.43 and 22.50p