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Hi Rangor
The bondholders have already been contacted by the company and are aware of the fee being offered to provide a waiver on a 2019 dividend. I expect it to pass on the 8th. We’ll then see an RNS to outline how the dividend will be paid (most likely split 1/3-2/3).
Allowing a dividend has no real impact on the bondholders. Listen to Esa on the webcast, he was openly laying down his position to the bondholders, if they don’t agree, then the Board will pay the 2019 dividend in January. Allowing the dividend will encourage investment in the company and increase company prosperity and appeal. In addition, they get a waiver fee. Also, if the bondholders are also the shareholders, then it’s a double whammy.
https://www.fool.co.uk/investing/2019/03/20/are-the-centrica-share-price-and-this-energy-stock-now-unmissable-bargains/
I bought a substantial amount of Genel stock yesterday. I’m scarily overweighted in Genl but there’s really nowhere else i’d rather invest for a 12-18 month investment. Silly prices.
They’ll be plenty of selling at £3, people remembering the fall from £3 to £1.60 (and regretting their decision not to take profits). However, what you’ll undoubtedly see, will be a dip a £3 and then watch it plough through as people scamper to get back in for fear of missing out on £4. I’ll hold for 12 months minimum. It’ll be higher than £3, that’s for sure.
This is the best O&G play for the year.
Thanks for sharing.
Well, they sort of alluded to this a while back, that the Miran asset would be assessed, or something along those lines.
To be honest, if they get agreement on Bina Bawi, I’ll be happy with that. The next five weeks could be game-changing. I look forward to them officially announcing that they’ll double production in 12-18 months. With Brent expected to continue rising (Goldman predicting possible $75 near term) into March/April – we could rise sharply. It’s a hold from me
So then, scenery week all in all.
- Brent at 66+
- KSA making further cuts
- Potential agreement for US/China
- KSA’s largest offshore field partially closed
- Venezuela output falling
- Genl could double in 12 months
- Sarta and Qara Dagh not priced in (quote Bill Higgs)
- More details to come from Chevron deal
- Bina Bawi getting closer
- EY results due in just over a month
- 40kbpd (to be 80 with 12-18 months)
- I still retain my £3 in March
- EOY could be quite extraordinary
Morning all,
Oil is up already at 64.22 and we could have a nice end to the week (kiss of death).
Fantastic interview with Bill Higgs, so much potential and fits nicely with my 12-18 months investment into the company. How will we look at 80k net production (little pessimistic with 75k Hydro ??)? Well, the share price will be a lot higher than this. Anyone seen @Lemmings – would love him to update the tables.
KSA will “do what it takes” to balance oil prices (and balance their budgets), we have news pouring in over the next 2 months. Looks sunny to me.
Dilution would kill the share price. Investors remain nervous with Genl and dilution would destroy any goodwill that they’re trying hard to rebuild. Never say never but highly unlikely.
They’re planning to fund with BB oil revenues but I expect a large farm-out to heavily subsidize development costs. Makes sense. There’s a good chance Chevron will get involved. Malcy (usual caveats apply) suggested there was more to come from Chevron around the time of the YE results.
Sad state of affairs if someone has bowed out because Hawkey sold up. Jesus wept.
Interesting day - decent RNS (top-up of reserves) but maybe the market (and I) expected more. As Boyo has said, we'll move with the oil price tide for the moment. Still, we're drilling (a lot), production up, more cash, gas news and year end results on the horizon. What's not to like (except the current sp!)?
bunks 187
Stockbuster 190
Rangor 199
withoutt 215
mark888man 225
Boyobach ?
tiger100 ?
Hasiba ?
Doubleheadedcoin ?
Broadland ?
Justin D 172
ocelot ?
Klassic ?
172 does not reflect my overall confidence in Genl. I still think we’ll see £3 by March. I haven’t sold a single share.
By March, I know cash will be higher, production rates will be higher, we’ll know the new CPR of Pesh and it’s highly likely we’ll see the BB arrangement finalised (maybe with an American partner for the gas).
Rangor 195
Bunks 197
tiger100 201
Hasiba 205
Doubleheadedcoin 207
Stockbuster 210
Justin D 212
withoutt 215
ocelot 220
mark888man 225
Trade talks, OPEC cuts, Venezuela - will all help this week. Higher oil prices, new Pesh CPR (material upgrade ) and completion of BB deal (maybe with Chevron involvement) will help get this above £3 in the next few months (imo).