Member Info for Jim800

Was thinking as driving back from Midlands to sunny Somerset today.
- worldwide event that has decimated the oil price and oil industry.
- airline travel almost ceased
- car driving massively reduced
- commodity prices and companies trashed
- industrial output stalling
- disease that has much higher impact on the elderly
- yet nil significant impact on youngsters

...Is it just me or have all Greta's demands just come true? Did she have a special biology project for the 2 weeks she did go to school last year? Only asking! Do your own research.

DGOC (US Oiler - not shale) has just announced its next quarterly dividend (payable 26 June). Nil change from previous quarterly so they either have lots of cash in the pot or think current OP is short lived. At this share price this now gives a return of over 20%! Any other visibility of other oiler dividend announcements? Can't see anything from BP and RDS yet.

Guys, there's enough stress out there without letting trolls make it worse - use the filters and block his content. Makes the board much more readable, life much more positive and blood pressure lower. Muppets only perform if they get a reaction.
Mind you, you may miss out on his erudite, helpful analysis of all things financial. Or maybe not.
Have blocked his posts since Jan but from responses can guess he's blaming Genel for CV, BoD for oil price and has totally failed to realise a few other shares are in the red at present due to extraneous circumstances.

Genel....expects....
That sounds to me as though they hope they will but don't really know. Looks like Genel are being very careful not to make any statements that may subsequently prove to be incorrect.
Other sensible posters have commented on their concerns with lack of clarity of payments, if long term Genel holders are nervous (and I think most of us are), prospective buyers are going to be even more so.
Though your statements on rationale behaviour make perfect sense to us, my experience is that many cultures don't view common sense and long term interests in the same way as we do. Self interest, religious or tribal loyalties, face saving and a whole range of other interests often come before long term stability!
I've just re-read that, you're turning me into Dr Doom now :-) :-)
Despite all the above I'm still holding, I just don't expect much progress in SP until we have clarity and regularity over timely receipt of both real payments and recoverables. March 19th would be a great time to give good news or kitchen sink any bad news on payments.
Hopefully the reality lies somewhere between my pessimism and your optimism. Fingers crossed.

From Hawkey
"Honestly, for me the payments are a distraction and our progress with our assets and production is much more important...."
Please get back in the shade for a bit! Any company producing stuff for free isn't going to last very long - the payments are what makes running a company possible. I fail to understand why you are so complacent about this. You were / are similarly blasé about overstated free cash flows. Whilst G are paying a nice dividend most of us are happy to hold - what impact on dividend do you think a slip from 2.5 months to 4.5 months might have, never mind market confidence? Of course uncertainty over payment dates / terms / delays / lags has an impact on both sentiment and the running of a company - the bod must have at the back of their minds that they now need to keep 4 or 5 months running costs in the current account, just in case. Doubt we'll see dividend increases or acquisitions til this is resolved / clarified.
Not saying it's the end of the world (as we've been here before) but it is not something that should be dismissed as irrelevant.

Nicely put Hawkey - However, I'm on holiday in Malaysia at present so watching a bit of TV I don't normally watch (international business stuff) and reading free magazines lying around departure lounges. Upshot seems to be, that irrespective of Genel (and other oil companies) good pipeline potential and even independent of Oil Price, this is quickly becoming a less popular sector to invest in.
Many tracker funds are now talking about removing Shell and BP from even their FTSE100 trackers to encourage more "environmentally aware" investors and many of those funds that retain oilies are considering voting for greener (hence less profitable) options at AGMs etc.
Looks like we're joining tobacco companies as social pariahs with SP reflecting this. It may be that long term holders of oil companies need to accept a decent dividend but minimal increase in share price for next few years. It seems as though all buyback schemes are doing (even Shell's $25 Bn) is mopping up sales and slowing rate of share price drop.
Guess the big question is how long can companies (I hold RDSB. Genel and DGOC) carry on paying 5-6% dividends to keep us onboard. When the first major reduces its dividend there may be an almighty scramble for the exits.

Hope i'm wrong and Boyo's SP vs OP saves us all..... If only we could bottle Hawkey's optimism and sell that :-)

Hawkey, whilst I admire your persistent optimism and whilst both happy and amused at your opinions, you must differentiate between facts and opinions. ie
ISIL has not been defeated - it may be less of a threat but it is not defeated.
free cash flow for 2019 was not $150 million (from Genel's own slides it was $53 million less than this as it hasn't been paid - don't confuse pro-forma with real cash)
Regular payments haven't continued - they've been halted / delayed recently

Not dissing the share - I have too many to do that but let's ensure we understand fact vs opinion. You're welcome to share your opinions but please don't claim erroneous facts to support your view.

Hope your optimism is rewarded :-)

Can anyone actually specify anything Fallon has ever achieved? He was a waste of space as Def Sec. Not sure he achieved anything during his period as Energy Secretary. Happy the others (Bilgin et al) have relevant experience to bring to the table but ex MPs are just an expense we don't need. Vanity appointment rather than anything constructive - I'll be voting against next AGM.

The overall message is good - shame they feel the need to monkey around with the figures! The net cash position on Slide 4 is of course a vital part of the investor attraction but it's a bit disingenuous to use pro forma net cash for 2019 and not for previous years. If the figures for the previous years were also pro forma then all the delayed receivables would be shown in the year they were due, not the year they were received. Please just keep it simple and tell us the truth in away that doesn't make it look like you're trying to overstate this year's success based on previous poor performance. It's better, we get it but don't exaggerate.

Assume the RBC analysts who produced last week's highly detailed and accurate analysis with a target price of 160 have all got bonuses and promotion. They'd be better off employing chimps with dice!

Thanks Bunks / Tartine.
Now got it - I didn't twig that one of the fields was increasing production as the other was falling.

RNS: "Production from the two fields in the Tawke licence climbed from 113,100 bopd in 2018 to 124,000 bopd in 2019. Production of 122,800 bopd in the fourth quarter of 2019 was up 3,000 bopd from the previous quarter."
Production up from 2018 - 2019 - Good
Q4 production higher than Q3 - Good
But Q4 production less than yearly average and Q3 also less than yearly average. - Not good
So drill more wells, produce less oil? - Not good

Am I missing something here? Were Q1 and Q2 better than Q3 and Q4 for any particular reason?

Never mind the big jumps up on news or results, I'm enjoying the gentle drift upwards over the last 4 days - very relaxing.
Especially a sustained drift upwards on flat or falling oil prices.
Does that show investors buying in rather than speculators buying and selling? Or is it just current holders re-investing dividends?

This time next year Rodney (and Hawkey)

NB For all those youngsters out there it's from Only Fools and Horses.

https://www.youtube.com/watch?reload=9&v=qp5hxHPlTq8

I've just filtered Leem1's constant moans out - what with that, Boris as PM and the sun still shining the world is now a much nicer place.

Excellent chart Boyo - nicely illustrates generic malaise amongst "smaller" oil stocks and improved
GKP and GEN performance against Brent since buy backs initiated.
Think RDS is a pure dividend stock (I certainly don't much care about the temporary share price as long as I'm getting 5.6 % reliable and stable dividend).

Any views on DGOC? I held them for 12 months and rode up from 90p to 130 - but then wanted to move some money out of energy stocks (and wanted to still hold Genel). DGOC have dropped off for no apparent reason (they're paying a good dividend and have started a buy back as well) but are now starting to rise again. More Genel or diversify and re attack DGOC??
My dividend didn't appear in HL accounts til this morning as well - though RDSB dividends were in accounts by 0930 on day of payment (yesterday) - perhaps first dividend takes some additional admin?

Moaning about it all the time won't help! As other posters say, chill out and take the dividend. You're being rewarded for patience and turbulence with 7% ish dividend. If you don't like the ups and downs then buy BP or Shell instead. My top up yesterday at 179 looking a bit impatient now - but it's not a loss if I don't sell.
If we all buy and hold then eventually the price will go up - it's only sellers who enable price drops.
Anyone know if Genel have announced the next ex div date yet?