Member Info for JamesOxford

@Icecool 'I’ve never said the board’s done nothing right,'

I think @Wily @Kando are right about Icecool and his 'relationship' with Wood's BOD (what is left of them anyway!). The fact is that Icecool has a love-hate relationship with the BOD...

Icecool hates the BOD, then he loves the BOD, then he loves to hate the BOD, then he hates to love the BOD. Rinse, repeat.

@Icecool 'Wood’s current SP was 18p pre-suspension, but using that as any kind of valuation benchmark now is total nonsense.'

Agreed. If Wood was still trading now, it would have dropped to a lowly 7p to 11p.

@Icecool 'Your bar’s on the floor, mate, don’t drag the rest of us down there with you. 💯💯'

Wakey, wakey Icecool! My bar is actually quite high at 35p per share for shareholders (and $450M as a cash injection for Wood's balance sheet and cash in the bank). The ACTUAL bar is far, far lower than mine: Wood's current share price is 18p!

@Icecool 'You keep quoting the Deloitte review like it’s a final verdict, it’s not.'

You are not only deluded, you are a fool.

@Kando Good post and summary. I would add that Wood's lenders are in the business of lending cash to strong, stable, safe and dependable companies/businesses and they expect a return in terms of interest etc. as well as full repayment at the agreed time. Wood's lenders are not in the business of breaking up businesses or selling assets to recoup their loans. This course of action is always last resort and least favoured action.

Hence, Wood's lenders have thrown in the towel and have advised Wood to sell as a whole (Wood's own advisors have come to the same conclusion - it's all there in Wood's own RNS). When Wood's BOD mention they are 'minded to recommend' Sidara's offer...make no mistake, it is Wood's lenders' who are behind that particular phrase and are behind the clear and undoubted push for Wood to sort itself out and sell to Sidara ASAP. I doubt any lender would refinance Wood without Sidara or another buyer to provide the cash injection of $450M (minimum(...unless they had rocks for brains!

@Icecool I have made it clear that I expect Wood's accounts to be bad i.e. downgraded, which is in line with Deloitee's scathing review. Hence why I think 35p will be a fiar deal for Wood's shareholders and $450M a fiar deal for Wood Plc and Wood's lenders. Whereas, you think the Wood accounts will be fine i.e. upgraded, which will justify a higher price. Of course, if as I estimate, Wood's accounts will be bad i.e. downgraded, then 35p for shareholders will be a lucky escape. If the accounts are very bad, Sidara may offer 25p and use the difference to add to the $450M cash injection. For me as an investor, given Wood's dire situation, I would rather take 35p today, bank the profit and move on. I make no apology for that. One of us will be right. I am confident in my prediction.

@Icecool '@JO Yes, I’d profit at 35p, but that doesn’t make it fair or acceptable. You keep insisting Sidara will close the deal while Wood is still suspended… without published accounts… under an FCA probe. Sidara only buys if the accounts prove 35p is justified, otherwise this fire-sale fantasy dies on arrival and the board gets punted. 🤷‍♂️💯'

Icecool so as an investor you would not take 35p as it is not 'fair or acceptable'. How would you know? You have not seen the accounts yet! Your deluded fantasy at work again! It is very likely the accounts will be bad with writedowns on revenues and profits particularly in the Projects Division; however, I too have not seen the accounts, but I have read the Deloitte review, and it is all there in print! I work with reality, while you work with your own made-up fantasy. Sidara wants to buy Wood and wants to see the accounts - fair enough, however, it will be Sidara who decides how much it will offer and when. At the moment with all we know 35p per share plus $450M cash injection seems about right. As an investor you ought to know better, stop dreaming of £2.30 from 12 months ago. That was then and this is now. Dreams are free my friend...but for you as an investor, to be so self-deluded is insanity.

@Icecool '@JO 🤣🤣🤣 You’re not dealing in “facts,” you’re just parroting your favourite outcome like it’s set in stone. Nothing’s confirmed. The 35p offer isn’t firm, the accounts aren’t out, and the FCA are breathing down their necks. Your entire posts are hopeful guesswork with a confident tone.'

Er, no...my opinon is entirely based on Wood's own RNS statements and my commonsense analysis of Wood's dire situation. I was right when I said the Wood BOD would be re-elected, when you said they would be ousted. I was so sure I didn't even bother to vote. Nor will I bother to vote when the Sidara offer comes in (most likley while Wood is still in suspension). Sidara will buy Wood - it is a foregone conclusion. When it has all played out we will see who is right. Don't worry Icecool you will still make a 'profit'....and pigs might fly! Lol

@Icecool 'So tell me… how exactly are they planning to break this corporate paralysis? Because right now, they look boxed in and out of options.🤷‍♂️'

To answer your above question: I do not speculate - I only deal in facts and commonsense.

To answer your second statement. Correct the Wood BOD are 'boxed in and out of options'. Hence, Wood is for sale and will be sold probably for 35p and $450M cash injection....I did say that Wood will be sold in my previous post, however, you replied it was 'speculation'...Icecool is on his merry-roundabout...again!

@Icecool '@JO That entire post is also speculation, 👍💯'

It is you Icecool who is not only deep under water with your Wood stock, but you are also delusional and live in your own fantasy bubble. Read the Wood RNS: Wood working to satisfy Sidara's preconditions....Wood and Sidara working with Wood's lenders...Sidara has made an informal offer of 35p which Wood is 'minded to recommend'...etc. etc. These are all facts my friend, all facts...but then facts do not reside in Icecool's deluded fantasy-land!

@Kandos Carrot is speculating - that is all...

@Carot13 Big difference between 'it seems the lender is looking to apply pressure to get things moving and the 35p deal over the line' and your early post i.e. an hour previously'been hhearing...one of woods biggest lenders is planning to call time on everything if the accounts haven’t been published and progress made with Sidara by the end of month'

Sidara wanted a quick buy, Wood's lenders wanted a quick sale as they backed Wood into a corner, due to several issues such as negative cashflow being reported in the RNS (when positive cashflow was the top priority for Wood). However, subsequent/recent events made a quick buy impossible and stopped any back and forth negotiations between Wood and Sidara in its tracks. Of course Wood's lenders (plural, not simgular) have applied pressure on Wood to sell and that is pretty much the only realistic option available...other than split Wood up and sell off parts, or equity raise (and wipe out all current shareholders) to raise cash and strengthen the balance sheet. However, all partiies are aware that the whole of Wood is more attractive and valuable to Sidara (and any other would-be buyer) than the sum of its parts. Wood need to comply with Sidara's not unreasonable pre-conditions already set out. Unfortunately, some of these pre-conditions such as audited accounts are outside of Wood's direct control. Hence, Wood's lenders must wait for due diligence and process to be completed. Therefore, Sidara's formal offer and acceptable will take time. On the plus, Wood shareholders will recieve a minimum 35p per share (not bad giveb the current share price is 18p), Wood as a company will live on, and Wood's employees will be more secure under Sidara's umbrella...vs under Wood's rather flimsy and leaky umbrella.

@Carrot13 'Been hearing a few whispers around Canary Wharf and elsewhere that one of woods biggest lenders is planning to call time on everything if the accounts haven’t been published and progress made with Sidara by the end of month deadline.'

You are spending too much time with that Canary on the Wharf chiping in your ear, as you feed it pieces of bread from your rather stale and crusty peanut butter sandwiches.

I can assure you that Wood has the full support of its lenders while Sidara is aat the table. That my friend, is Wood's 'Get our of jail free' card..Everyone in the know knows it. IMO & DYOR

@avocet123 'CPI up, VOD up, SSPG down. Savage must be reeling in pain 👍'

Indeed both SavageKeyboard and AimMaster. The Capita share price at COB today is £3.50. Unfortunately SavageKeyboard has never invested in Capita...big mistake, huge! AimMaster did invest, but then sold out far too soon for only £2.82...big mistake, huge!

Cheer up Garone! Prudential's share price has increased from £6.00 to just over £9.00 at a pretty decent clip. More to come. Patience, my friend, patience.

The equity raise has been sucessful (over-subscribed)...

The 'investor' has $100 million burning a hole thourgh his pocket...

Zephyr have been very vocal about the anticipated newsflow in the very near future...

Let's give Zephyr a month or two to 'produce' some meaningful news in terms of production...

Just no more news of possible bit/crap coin! I have invested real cash to buy Zephyr shares for O&G production, and I expect to be rewarded in cash dividends and/or capital growth. I am not interested in monopoly money in any way shape or form.

No more crystall-ball gazing. Real news please!

The tax rate of 78% for UK Oil and Gas companies (i.e. applies to exploration and production of oil and gas in the UK and on the UK Continental Shelf) made up as below is eye-watering and simply very, very, very bad for the UK's O&G economy and security:

Ring Fence Corporation Tax 30%

Supplementary Charge 10%

Energy Profits Levy 38%

Now compare this to the current marginal rate of mainstream corporation tax of 25%.

Hardly seems like a level playing field now does it?

Every tax increase in tax on businesses/corporates is an indirect tax of employess (EG less frequency and amount in terms of pay rises, as well as more roles terminated or downgraded) and consumers (increased cost of goods/service by businesses/corporates must be passed onto consumers in one form or another i.e. less 'value' think 'shrinkflation' or higher prices).

Labour 'claims' it is pro-business...the proof thus far is not in the pudding. Let's wait for the Autumn budget...we can watch the pigs fly...

@Trenners The Capita ship has turned around and is riding confidently on the high seas once more, as predicted many moons ago by JO and you (plus a number of other 'faithfuls'). He who laughs last, laughs loudest. If you do pop elsewhere fair enough, some of these discussion boards can become rather toxic and booorrriiinnnggg after a while, which is why I pick and choose which discussion boards I grace my presence with. Lol. Anyway, I do hope you pop in here now and then to say 'Hi' to your old mates once in a while...

@NoFear Are you still investing in stocks? Are you tempted to waggle your sheperd's stick over the Capita 'buy' button? Or have you decided to keep your coins firmly down your very long pockets in your dark brown flared trousers?

'Why is it so quiet in here today. No one has any more ammunition? 😂'

'I think the reason it’s quiet 🤫 is every path forward without publishing the accounts is now closed.'

Or, is it because a certain constant flow (picketing the same old mantra) from the Iceyone has driven others off? As another observation, it is always important to appreciate the viewpoints from others and show respect without replies like "More BS...". No reply from Icey needed, as from JO to Iceman, I dedicate this song:

https://www.youtube.com/watch?v=ucvcoWMFmW8&list=RDucvcoWMFmW8&start_radio=1

On another note, the 'fun' banter on this Wood discussion board is slowly but surely dying - further enhanced by a certain one or two posters (you know who you are) who self-title themselves as 'the fun police'. "No fun allowed here, move on, move on....". An excellent way to kill off any conversation and banter and jokes (no matter how poor).

On a final point, given the views from most regular posters, we all know where we stand, and there are pockets of groups who stand of different 'sides' of the same circle, but one thing we have in common is that we are all Wood shareholders, and we all want the best outcome, which generates the highest possible return on our investment.

@Dazpink I own Spectris stock (since mid-April to date). The RNS Spectris made, and the RNS Wood made were very similar i.e. both offers were announced 'out of the blue' due to 'media speculation'. Spectris' share price jumped on the news when released via RNS on 9 June and has steadily increased since. Of course, Spectris stock is still trading, whereas Wood stock is suspended. All Wood shareholders need to wait for the dust to settle - and allow due digilence and satisfaction of pre-conditions to take its course. After that, Sidara will make a formal offer, that in itself will flush out the other 'interested party' (word on the street is that there is definately at least one other party who wants to pick up the bargain of the century...do not rule out Apollo who like to buy distressed companies for a bargain in order to recapitalise, restructure and add value) and the Wood BOD will recommend the best offer to its shareholders. Most likely all this ought to occur while Wood is in suspension...but it matters not if Wood is out of suspension (in which case the Wood share price will rise to reflect the offer on the table at the time). GLA

Zephyr's accounts held no real surprises or concerns for me.

It's all about the immediate/near future now.

The next step must be positive action and to deliver on their statement: "The Board looks forward to the coming months with confidence, as we continue to open up the next prolific oil and gas basin in the U.S."

GLA