Member Info for Jim800

Not only disputed the legality, they have declared the ioc contracts to be illegal and thus invalid.

Notrex,

I think our views on BBs differed in a few respects.

- when they were first mooted I thought that the price was too high and DEC's cashflow wasn't sufficient to do meaningful BBs without borrowing (which would have made debt figures worse - potentially scaring investors and would have incurred 10% ish interest) .

- I haven't seen any compelling evidence that BBs support the Share Price for any company (it's very difficult to identify cause and effect in the wider market). At recent price levels, buying back shares to save dividend and as undervalued assets would make much more sense than an (illegal) attempt at share price manipulation.

- I'd rather money "returned to investors" was actually returned to me then I'll decide what to do with it!

Now they have spare cash (saved from dividend) so can buy without borrowing and price is low then crack on - but do it sensibly during price falls, not every day, at the same time, at the same level, irrespective of share price action.

Axe - a simple read of Notrex' historical posts will make it obvious that your opinion is absolute buffoonery!

Looks like it's only 3750 shares each buying day, in a single transaction each time. This appears to be irrespective of share price, shorts increasing or wider market conditions - hardly an intelligent approach requiring a highly paid broker acting on your behalf.

Unfortunately no great surprise to anyone invested here over the last decade or so.

All the eggs in one basket for way too long - Somalialand doesn’t look much different either!

So if they're trying to make the best use of cash lying about they aren't doing very well waiting for further SP rises are they?

If they're holding until they think SP needs support then again - not best use of money.

If, as others have intimated, the BB is just a bluff and they'll actually use the money for acquisitions then OK (I'd prefer that), but once again Rusty not delivering on his public strategy leading to questions over trust.

Damn - seem to agreeing with Notrex again!!!

Skier - the huge Peel Hunt BB you quote as your No 1 driver has actually been just 2 single transactions since 19th Mar!

One on 5th April for 3750 shares @ 970

The second on 8th April for 3750 shares @ 1003

They're not exactly throwing all the saved dividend money at this are they, about £75k in total so far!!!!!

Interesting to see the market reaction to XD day for a variety of traditional income shares.

Think the evidence is all there that at present share prices for traditional dividend payers doesn't move much (in fact most have fallen over the last 5 years).

More and more investors seem to think that the best way to make money is no longer hold and wait for the dividends but to get a bit more active with the buys and sells.

As an example, I missed out on a 22p Aviva dividend but sold at 496 a week or so ago and bought back in yesterday at 460 - so 50% more than the dividend alone. See my post of 10 April so it's not hindsight trading.

Think this explains why the price immediately before XD day no longer rises as much as it used to (lots of sellers in the run up to XD).

Is buy and hold dead? I think with FTSE now only back at levels from 5 years ago it might be (I know we've had COVID, Ukraine and high interest rates on savings). You might need to think / deal accordingly!

Orbi - if you’re not sure whether you get a dividend buying on ex dividend day it’s probably best to do a little research begire you spend any money.

The stock market exists to separate stupid people from their money…….

I’ve set a buy order for £4.60 - so about a 7p drop more than dividend amount.

Given the £1m trade was at 1026 and shortly followed by trades at 1011 and in the 900s why do you think it was a sell?

Looks more like a buy price to me.

If someone taking a sell at 1026 they’re expecting a rise tomorrow.

Bypassing KRG and selling via Baghdad and old Iraqi pipeline would be fine (not as though KRG have ever done Genel any favours).

But might just be a bluff to hasten talks / improve Iraqi deal on sales via newer pipeline from KRG.

Who knows? Share price doesn’t!

Guess he thinks they’ve had their chance.

Earl - DEC previously approved a purchase of “up to” an amount of shares

“Up to” can be anything from zero to the number in question.

Doubt you’ll make Duke!

Perhaps someone will do what the KRG intended to do before Ukraine kicked off - go into partnership with Russia to develop the gas fields.

Doubt there’s any trust left for further Genel investment in KRG - they seemed to be set on not renewing current Tawke license at Investor Meet briefing.

Dazzle - why do you say “Growth stock at best?”

For anyone buying today there is an assured dividend of $1.16 per annum which on today’s US price of $11.30 ish is just over 10% - not the 5% you quote.

I realise any LTH are getting less than that but think we’re now at the stage where they’ve either left already or have accepted they’ll hold and see what happens.

Simms - you’re continually deluded!

You said a while ago they had enough capital for 2 years - they clearly didn’t.

You continually expect a miracle in Northfork.

You continually say they’ve reached the bottom / turned a corner / are now on track! None of these are correct.

Of course you’re welcome to your opinion (as are C909 and Foxy) but mindless optimism is a much more dangerous investing strategy than numerically based cynicism.

It’ll need a fcuk sight more than good luck!

FCFY - and who do you think will pay Genel the 1.2Bn?

The KRG who haven’t any money because the ITP is closed and Baghdad don’t even give them enough to pay public sector workers or Iraq who weren’t a signatory to the BB and Miran PSCs?

Is a pre dividend payment day SP rise a thing?

Guess with any large dividend arriving in accounts there must be a market makers’ expectation that a proportion of share holders will use the dividend to buy more shares on payment day.

Thought I’d add the equivalent of tomorrow’s dividend this morning and beat the rush tomorrow.

Got in at 861 so in profit already and US looks to be rising as well.

Might have to sell today’s buys tomorrow just to get some capital gain from DEC :-)