Member Info for johnpwh

...is why Gold is weak. You could argue that in times of decreases in asset values people may be forced to cash in their best performing assets. But even so, when markets are crashing and a pandemic is gaining traction you would have thought that now is the time that a flight to safety providing the widely predicted $2000 + per ounce would be nailed on.

I agree that the publishing of the financials, prior to the CMD, is indeed important. I think the CMD will be the focus because many investors (I may include myself here) look to the headlines and the comments but don't plough through the minutiae.
A presentation is easier to assimilate, plus attendees will hopefully ask pointed questions (at the risk of getting shouted at!) which may not otherwise come out.
And I've just sneezed 3 times in quick succession. What more can go wrong.

I too have the feeling that (oil price) hedging wasn't the company policy, though not sure why - I think in last years results hedging was mentioned but only in respect of currency hedging? As CFO AS should have been a driver of hedging/ no hedging. May even have been something he fell out with the rest of the board about? Anyway, it will be nice to see how the board refers to the current economic climate in the CMD report, just hope it is as positive as it possibly can be. More and more that CMD is becoming very crucial to us, the following day most of us will be either elated or despondent.

Ouch!

There is a right load of old b*llocks being reported at the moment. Best ignored. Don't forget Doris Day

JAdam
Unfortunately the oil price plunge comes in the week of that Chancellor Rishi Sunaks Budget is rumoured to increase fuel duty for the first time in about a decade (though some are questioning that he will). Would be quite a clever move, the duty rise will be lost in decreases due to PoO, and any blame for not reflecting PoO decrease can be blamed on the retailers. Simples!

JAdam
I disagree. Low oil prices are nice when you fill up a Porsche

To get to 45p seems a fair old jump at the moment!
I think very careful management is crucial now, hence my comment about the quality of rest of the board. The oil is still there, licences in good order, hopefully an upbeat CMD will indicate future prospects are good.
Sad to say but most long term holders would be content with the opportunity to break even and exit at the moment.
There was me thinking this time next year I'll be a millionaire…….

Daltry
Dr T has over 26 million shares, so the last 3 months must have made his eyes water a bit. I hope the remaining board members are both talented and have sufficient influence to allow Dr T to do what we know he does well, but prevent interference in areas of governance that he is less gifted at. It isn't DrTs company any longer.
Oil is surprisingly chipper, Genghis has suggested a dead cat bounce. I am an optimist, and with no justification whatsoever I hope that around $40 Brent could hold here. The Russians would be happy as they would be still be making life very hard for shale while providing themselves with revenue. HUR could live with $40 in the short to medium term, I hope, at $20 ish Opex. A period of stability would be very welcome to let a new equilibrium get established, which I think would allow a modest rise here as pessimism recedes.

Seriously chaps, we are passengers here. Its no good having the HUR SP on constant 'refresh' and trying to explain each movement. It will bounce around like a thing that bounces around a lot. There have been two very significant factors at play effecting the stock market in general and oil shares in particular. And then there are RNS'. If you have long term confidence in HUR then try and ignore the screen, walk away and let this play out or you will all end up with ulcers and on Valium. Hard to do I admit, but chill.

Indeed. Preservation of capital is definitely needed.
Is this likely to cause consolidation in the sector, with the big boys picking up reserves on the cheap by take overs rather than exploration? Or are the big boys now so concerned with expanding their green credentials that they daren't do so?
Interesting, if worrying, times.

A thought Daltry. When PoO was high about a year back (I haven't checked dates or Oil Price) the Orange One applied pressure to KSA to keep production up, hence oil prices down, in order not to stall his economic miracle he thought he was performing in the USA. Will he apply opposite pressure now if the Shale Industry shows sign of collapse leaving the US dependent on foreign oil?

Sorry for being a cynic but 'plunge the Middle East into perpetual chaos'. Think we have had that for decades! :)
Was going to have an LRD but a friend has just suggested a couple of pints. No prizes for guessing if I'm going

We have over 2 years, there is a long way to go yet and plenty can happen.. Previously I had dismissed the loan as a worry, now it has trundled more into focus.
I guess the new situation may mean another change in strategy, I admit I'm no oilie but would not like see further licences being abandoned like Whirlwind through the necessity to save on Capex.

Genghis
I agree that, Petroatlantic aside, there ain't going to be too much to smile about this week for HUR (that means you and I!). This appalling brinkmanship, coming as it does in the face of weak demand due to covid - 19 may, hopefully, be relatively short term. Its hard to see members of the extended OPEC+ becoming bessie mates again anytime soon but they may do some relenting if there is a real plunge in PoO to threaten the economies of Russia and KSA. Bloody hope so.
I myself am staggered that with such a vitally important commodity affecting the whole world economy we appear to have lunatics in charge of the asylum. Apart from anything the prospect of weak PoO going forward is not going to encourage already weakened economies to transition to expensive green alternatives like Greta demands.

LW, simply trying to clarify what I see as a misunderstanding by acrossthesea about the terms and conditions of the bond. He believes that the debt will not be repaid but exercise of the share conversion enforced in the terms published. I may be wrong in what I have said, in which case I will no doubt be corrected, and would gladly accept being wrong because at the current time it would be very advantageous. However I don't think I am.
However surely it is only correct for all us long term investors to understand relevant facts pertaining to their investments,. Most of us have a lot of skin in the game here.

Lots of confusion and panic going on. I have insufficient knowledge to make predictions, but then I doubt anyone has.
Russia loves intrigue & games, are the talks really dead? All this happens late on Friday, just before a 2 day break in oil trading. Who is to say that talks are not still continuing on an unofficial basis? What of consumption, there was a report this morning that airlines are forced to fly aircraft empty in order to keep their slots open for the longer term. A poster has already noted that car usage could well increase as people avoid crowded public transport - I know that is how I feel and I am a covid 19 cynic! My view is why take the risk, and that will be reflected by others particularly those stockpiling bog rolls and hand cleanser.
There will be (even more) short term pain, that is evident, but time will tell if that extends. Be interesting to see where we are in a month. In the meantime there are < 200 infections in the UK, months after this 'pandemic' was first reported.

No probs daltry!

barnyards
because I read the posts and form an opinion on the posters and what they have to say, whether they be positive, negative or neutral. I too use the filter button with great aplomb, particularly recently. That has not been applied to Mr Adam to date and I read his posts

Daltry, bartle, The CMD needn't have been mentioned, that was simply my point. The fact that it was in an encouraging way is....encouraging! As for HUR analysis, i'm sure there will be enough of that between now and midnight to satisfy anyone!