Member Info for jollyspeculator

wouldn't surprise if a little trundle above £2 to see whether there is any renewed appetite/mojo

but I'm all in favour of tidal...in particular under water tidal / surge / rip (at NE point of Scotland is one of the v best in the world...the forces involved...and hence potntial energy generation is mind boggling)

but they'll be back lol

mcap of DWHT plus mcap of DWHA minus cash plus pension deficit (@ some discount? cos not a pressing obligation and inflated by unusual yields)

agree Jam Tomorrow...but bought back modest 7k@7.91p

back for modest k @43.75p given recovering markets (which I don't "trust")

interesting to see the bounce...EV/EBIT undemanding & good management ...questions over market and SAG's position in if (but larger than indiustry margins comforting)

still challenges in N American drilling market?

2.5k shares back...still on free ride... ...not cheap as chips (EV/EBIT somewhere around 7 which seems right given volatility of consulting EBIT) ... but strengthening US$ helps ...and the share buy back (and Martin's substantial shareholding) comforting

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surrounds the EBIT ...I doubt it will be as high as your figure ...and it may end up (?down lol) a lot lower next year (see the profits warning), but the EV is so low that I reckon it is worth the punt ...EV/EBIT 5-7 is Jolly healthy...it is a 15-20%pa pre tax return on external capital

MCap + net cash, yes ...but net cash is higher than you calculate..the non borrowing liabilities are part of the on-going business (working capital), not traditionally thought of as part of the externally funded capital structure ...and the small borrowing is offset by the cash from the linx sale ...so EV is c£3m

yet again lol

what is the breakeven oil price for athena?

cash down by a roughly a million in 3Q?? ...pls check...but that is just odd...cannot be the divi cos not paid yet??? ...Jolly puzzling

perhaps...would be more persuasive if he had bought 10 million shares

perhaps you will have the grace to accept that your calls here have been poor? ...this is during the good times...next year looks grim indeed

best not discussed lol

I disagree with most here about the calculation of margin (and with goldies calcs of costs/margins as well)...the net back figure does not cover the full replacement costs imv (but you must all DYOR) ...so, to my mind, oil price down 25%>EV down by 15-20% (pls check) ...and replacement margin compressed by perhaps half (+/- huge margin...sorry for pun...for error) ...(again to my mind) this episode is about a major change in st and mt projections for wti after a little period (3/4 years of complacency/lack of volatility)...I don't think the majors made the mistake of projecting forward US$100 (they have long memories)...but I guess plenty of investors got carried away (incl me lol) ...so I am watching evolving oil prices esp Saudis: ...st for possibility of panic and capitulation selling (and bargain opportunity) ..mt for "true" value of caza

as pie ...I am playing the relatively long game here...but in load up frame of mind ...one of the best small caps around (in my biased view lol)