Member Info for mdmckea

Spot on romaron.

In her field I rate Kathryn Porter as exceptional. Her Watt-logic Blog provides me with some excellent insights as to the inevitable future of our overstressed and ill-maintained grid.

@WelshMurk - excellent and very accurate snippet.

I may subscribe to this channel.

Brent currently $119.....

"Mr. Hegseth repeatedly urged Iran’s leaders to “choose wisely” and said an American naval blockade of Iranian ports would continue “as long as it takes.”....

"As long as it takes"....In May and June the water temperature of the Persian Gulf can reach 33°C then 35°C. Goodness knows what it'll be like on board a ship.

I sold half my holding at 606 and have a limit order for the other half at 620.

It expires in 12 days so who knows?

Hi fleccy, re 'The Expiry Scramble'.

I've never paid much attention to the futures markets and, following your excellent posts on the subject I now understand that oil futures are bought / sold in multiples of 1,000 barrels.

So, for ease of numbers, if I had bought one barrel of oil for $100. And on April 21st when the futures contract expired physical oil was $120 per barrel, the exchange would buy the barrel back for $120 and I'd have made $20 on the deal.

On the other hand if, as a 'shorter' I had sold a barrel for $100 and on April 21st oil was $120 then I'd have to buy it back and lose $20 on the deal.

Multiply that by thousands of barrels and it could be very profitable, or OUCH!

It seems to me that, despite what Trump says, Iran, Hezbollah, and the Houthis are currently busy bringing Israel back to the stone age.

While I despise the relevant governments for this war, I truly pity the ordinary, everyday working families of Iran, Israel, Gaza, Lebanon, and the Gulf States.

They have kids to feed, clothe and school, bills to pay... Life is hard enough without all this unnecessary crap going on around them.

Excellent response Fleccy.

Thank goodness for filters.

The oxygen thieves in the HoL?

I know Iran closed the Strait of Hormuz to most ships. But the recent cancelling of war risk coverage by shipping insurance companies for vessels in the Gulf has added to the problems oil exporting nations have.

I can't see us getting back to normal for a while yet.

I've had him filtered out for a while

As Buffett said, "forget about 'timing the market'. It's 'time in the market' that counts". And, as my average is £3.85 I'm here for the long term. Divi next month too....

My belief is that we'll soon see some big changes in parliament and, as a result, a big change in our currently bleak energy strategy.

Looking at the dark windless days of winter each year I have a lot of faith in the future of oil and gas.

Bought a few more at £4.47 - couldn't resist.

I think putting the share BB in abeyance for a while is a good move.

I've seen other large companies paying extortionate interest on debt every year and believe reducing ours more would be a good thing.

LeeRex. See: https://airguide.info/rolls-royce-may-shift-1-6-trillion-jet-engine-project-to-us-or-germany/

"Rolls-Royce May Shift £1.6 Trillion Jet Engine Project to US or Germany"

This could be another huge UK business lost to the nation.

From the RNS: "Following Admission, the total number of Common Shares in the capital of the Company in issue will be 11,547,931,674"

11 billion shares! With a market cap of under 10 million. Just. No.

After a long period of relative quiet, the Strait of Hormuz is flaring up again as on Friday Iranian forces are reported to have seized a Marshall Islands-flagged tanker.

This is a first in a long time, but the Iranians are saying it is a somewhat 'routine' instance of intercepting a ship for "smuggling fuel", according to state IRNA. The Iranians are now claiming to be acting within the laws of the Islamic Republic.

https://www.zerohedge.com/geopolitical/iran-seizes-tanker-strait-hormuz-breaking-relative-quiet-region

I topped up with another million this morning but, although the bid price was listed at 0.14 I could only buy at 0.15.

I bought them anyway as the high-value asset is still in the ground and, in my humble opinion, it won't be long before China starts showing interest. Silver especially is in massive demand industrially.

This share gives quality dividends and I have no intention of selling any.

Like a good few others, my only real concern is at what point should I dive in and start topping up.

The Mineral Resource Estimate reported by EEE is exactly that - an Estimate.

Once the required groundwork has been performed to convert this Estimate to a Reserve report (as per the JORC code) then this SP will fly.

Until then, and because I believe the asset in the ground is indeed valuable, I'll hold onto the shares I've bought.