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Mommur - it’s pretty risky buying this side of the election? I am expecting all North Sea oil and gas shares to tank if labour wins. So that has prevented me from also topping up.
Despite AA airing his views in some interviews, he hasn’t really talked about any overseas assets other than the Nordics.
He did make a private buy into a company called URAH though.
I wonder if he will diversify KIST into non oil and gas assets
I find it really odd that the share price isn’t a lot higher, market cap still very low for a company about to go into production. Some high profile investors as well like Andrew Austin if he is still holding.
It’s good that they are now drumming up interest by doing some PR and they are active on X, however i think the market wants to see what the revenues will be like once production starts. Revenue production will be the key driver. If its all good then it will be a multi bagger from here.
I see Ithaca have announced a possible merger with ENI today
https://www.lse.co.uk/rns/exclusivity-agreement-with-eni-spas-uk-business-71us2flykg4ddv8.html
Final results end of April, so hopefully news on production ahead of that
One of the slides in Gills presentation this week suggested drilling in South Africa and Guyana in Q1 & Q2 2025, so if all goes to plan then its not too far away. We should get news ahead of that for any farm outs for Guyana and Namibia
It’s (North Sea oil) being used a political weapon and the tories are running scared of labour scoring cheap electoral points. Reckon that after the election if the tories miraculously win they will come to their senses - we will see
Mind blowing tax rate at HBR of 95%, however atleast they are returning significant amounts to shareholders with dividends and buy backs, from their end of year financials RNS:
§ Profit before tax of $0.6 billion (2022: $2.5 billion); profit after tax of $32 million (2022: $8 million) reflecting an effective tax rate of 95% (2022: 100%)
§ Free cash flow (post-tax, pre-distributions) of $1.0 billion (2022: $2.1 billion)
§ Returned $249[2] million through share buybacks in addition to the $200 million annual dividend, resulting in $1 billion of shareholder distributions since becoming a public company in April 2021
Yes it should be closer to £35. However, it’s the typical market reaction with selling pre news these days. Results should out perform guidance, but what will the market reaction be on the 6th March. I will be buying up on any weakness
It’s no coincidence that all the North Sea oil and gas stocks are “pricing a doomsday scenario”. The latter is the incoming General Election, who would hold these stocks as we approach. Labour win will see another step change downwards imho. The likes of HBR, SQZ all generating cash for HMG.