Member Info for Jakers

Good morning everyone,
Very happy to see that net debt has been reduced substantially, and the 10% uplift of the dividend is most welcome. Also increased level of buybacks, so all in all not a bad day at the office.
Jakers

jmak/Chandley., If Ms Truss gets elected then God help us, is this really the best we have to offer ??. She is a lightweight, hopeless on the international stage, and the personality of a milk churn,

Meoryou, I thought your post of Sunday evening was eminently sensible.. BP award the 4p current dividend ( set by BOD on the premise that oil would achieve $60) any improvement on oil price in excess of that should be the subject of a quarterly special dividend of say for arguments sake .5p for every €10 over 60 which in very rough terms would equate to 2p special dividend. This seems fair and very reasonable to my mind
Jakers

Spights., certainly reasons to be cautiously optimistic this week on run up to q2 results on Tuesday 2nd Aug.
Jakers

I don't think it is fair to say that buybacks are/have been a complete waste OK they have not boosted the share price very much, if at all. Of course the upside is the fact that there are now several million shares that will not need to be serviced with a dividend every 3 months, so to that extent alone they have served a purpose, albeit not my income level.
The question remains as to whether the BOD will stick rigidly to their stated plan to maintain the dividend with a 4% annual increment until 2025. I have argued often here that there has to be a basis for the BOD to at least review that strategy due to the massive and consistently high price of oil over and above $60 since this strategy was initiated. Perhaps we might see some movement in that direction shortly when Q2 figures are released.
I wish everyone a very good weekend.
Jakers

It would be good to know how profitable these enterprises are, but I've seen nothing published as yet

Meoryou, If the massive buyback program was going to make any discernable difference to the share price, I think we would have seen it by now. I don't know how much of our money the BOD have splashed out on buybacks but it is a very substantial amount indeed. In my humble opinion I don't think it has made any meaningful increase at all. Many posters here have said, and I'm totally in agreement, that until the dividend in substantially reinstated the share price will not get close to pre-pandemic levels sadly. Other than selling and moving on, we have very little control over what BP actually do, and so far they have not done much to increase my optimism in the stock price. GLA Jakers

Hi Meoryou, Part of me wants to argue that the dividend should be reinstated to the original level, however 10% would be baby steps to placating beleaguered shareholders. I certainly should be affordable when you consider the Dividend policy was set based on assumed oil price in the region of $60
Hope everyone is enjoying the glorious weather
Jakers

Oj17 If my memory serves I believe they said that at around $60 they could maintain capex and 5% annual uplift to the dividend until 2025
Jakers

JSB, Finally someone is smelling the coffee. I absolutely agree 100% with your post
Regards
Jakers

The real problem with fuel price currently is our government, who steal roughly £1 from every litre of fuel sold at the pumps. They could easily resolve this crises in an instant by reducing the hideous amount of duty/vat by say 30 pence/litre until things settle down. For Sunak to stand up in the house offering 5 pence reduction is frankly taking the p*ss

You make a valid point Jwd., There's no escaping the reality of the situation, With household budgets straining at the seams to pay for heating/Food etc, a situation which will deteriorate later on this year, however, I think OPEC either cannot or will not increase production in any meaningful way to completely offset the loss of Russian oil in the marketplace, oil will remain a demand and oil price will be resilient to these conditions. Your guess as to how that will be reflected in the share price is as good as mine, but I'm holding and remain convinced that £3 is a distant memory,[he said hopefully]. These are simply my own opinions and I would not want to influence anyone to buy or sell based on what is posted on this board. There is always a risk holding in the stock market. Good luck with your investments
Jakers

Jwd I think with EU and UK turning off the Russian oil taps by end of 22 oil price will be sustained at or near 100$ so im opting for the move towards £5 rather than fall back to £3, even with reduced demand.
Jakers

Looks like a high level of selling this morning taking advantage of the 52 week high share price. Good to see it holding north of 420.
Good luck to all holders
Jakers

Doubleorquits., Yes the results are impressive by any measure, however, given the unusually high prices of oil and gas hardly too surprising.
I applaud the level of debt reduction, and hope that it will continue at a pace in the next quarter.
As for share buybacks, i'm not at all convinced that this is the way to go, and I think the 'gravytrain' handouts of shares to the BOD should be suspended entirely until the dividend is fully reinstated.
Jakers

Hi Meoryou., Yes thankfully we have regained some lost ground over the past few days, and hopefully this afternoon will continue in the same vein when NYSE awakens. I too hope we can sustain this and break through the £4 ceiling shortly.
I agree clarification on the buybacks would be helpful, together with clarification on Rosneft, that's if there's anything left after the bombing incident which is weird to say the least. Have a good day
Jakers

The-Lokie, I agree with you., One would think £5 is a reasonable price for this stock. It is my firm conviction that we will achieve £5 in the not too distant future, we just have to be a little patient.
Jakers

Good morning all,
Here's hoping we hit the elusive £4 today. Yes beautiful day in Norfolk also
enjoy while it lasts
Jakers

Hi Jeffrey, It would be most welcome indeed but I fear you may just have jinxed it lol. Lets see hoe the ADR's go this afternoon
Jakers

Hi Meoryou., Bob Dudley was a very astute CEO, and knew exactly how to handle the press in every situation. He was very well rewarded though earning in the region of $12m per annum. Now by any standard that's pretty good going. Bernard Looney is doing an excellent job and by comparison is being remunerated much less that Bob Dudley. There are grumblings on here about the way the Rosneft situation is being handled, and i agree that there needs to be more clarification by Bernard sooner rather than later. Very welcome uplift again this morning, fingers crossed we hold on to it.
Good luck to all
Jakers