Member Info for meoryou

Thanks Mark

I did notice the $6.56M but never noticed it was ADRs.

Need to pay more attention

It’s a Fool article so they are rarely significant

However what intrigued me was

The last paragraph

“ In general, Scion hasn’t been in the business of making long-term investments. Burry has typically preferred short-term mispricings that have the potential for quick returns.

It’s therefore possible there’s something on the horizon that renewable energy companies – including BP – could benefit from. The question, though, is what exactly this might be.”

It’s speculation but, that can move the market occasionally.

It’s the fool, so doesn’t really give much conclusions.

But I do find it intriguing

Https://www.fool.co.uk/2024/05/18/michael-burry-just-bought-175000-shares-in-this-ftse-100-company/

Ahha

On buybacks I have a different view from most.

I accept buybacks pre 2020 often had problems.

But they were usually carried out in times of high oil and therefore a high sp.

I believe in 2020, the BOD took advantage of negative oil prices to deliberately drop the sp by cutting div in half.

This allowed buybacks at a very reduced sp.

£2 per share is buy one get one free territory.

Their plan ever since has been to continue buybacks at lower sp, slowly increasing the div.

I also believe they never thought the market would let them get away with it for so long.

It’s just my opinion and maybe gives them too much credit.

But I do believe it’s a deliberate plan

Hi Spights

Glad to see you are having a good time.

Think you have had a busy year also.

Hope it’s not too hot.

It’s nice to wake up to another sunny day in paradise

Ahha

It really comes down to one question are OPEC in control or not.

So far I think they have demonstrated control.

The oil market tries to disregard them, but they have come through so far.

Can they keep their unity.

They always have political problems to fix within OPEC, but somehow they always get there.

I expect them to stay in control, and oil to stay in the Goldilocks zone of $80_90.

But you can never be certain of anything with oil and OPEC

Https://oilprice.com/Energy/Crude-Oil/Two-Sectors-Driving-the-Future-of-Oil-Demand.html

Https://drilled.media/news/senate-hearing-media

Alliance News) - GSK PLC on Friday said it has sold its remaining shares in Haleon PLC, marking a total exit from its consumer healthcare spin-off.

Https://oilprice.com/Energy/Crude-Oil/Could-Renewable-Diesel-Crush-Oil-Demand.html

Sharecast News) - GSK said on Thursday that it plans to sell its entire remaining 4.2% stake in Haleon.

The pharmaceutical company will sell about 385m ordinary shares in consumer health business Haleon, which it spun off in July 2022.

GSK initially retained a 12.9% stake in Haleon, but has since sold stakes in May 2023, October 2023 and January 2024.

The final disposal will be conducted through a placing of ordinary shares to institutional investors. GSK said the offer price will be determined by means of an accelerated bookbuild offering process which will start immediately.

Hi Jezzoo

Did you get any shares away above £5,or is it all one last roll of the dice.

Got everything crossed for you.

Driftking27

In 1997 and 1999 there were 2:1 share splits.

I have no idea how these are accounted for ,but effectively 1 share became 4.( earning 4 times the div)

If you pick your dates from 2000 then this point is irrelevant

Https://oilprice.com/Latest-Energy-News/World-News/Chevron-Set-to-Exit-UK-North-Sea.html

Chevron, which has been active in the UK North Sea for more than 55 years, holds a 19.4% non-operated working interest in the Clair Field and associated assets—one of the largest oil and gas fields offshore the UK.

We had one before called Britoil .

Set up by Labour.

The Tory’s privatised it.

Then BP decided it was a take over target and swallowed it up.

So no concerns yet.

ExxonMobil has found oil at its Likembe-01 well in Angola’s Block 15, two years after the last discovery on the prolific offshore license, sources said May 14.

A source familiar with the drilling campaign told S&P Global Commodity Insights the well “did encounter hydrocarbons,” adding ExxonMobil is currently “assessing the well.”

According to ANPG, Angola’s energy regulator, the well – located in the Kizomba B development area – was drilled between February and April to a maximum water depth of 3,013 meters.

It is the first to be drilled as part of an incremental production initiative led by the regulator to increase crude output from existing oil and gas projects in a bid to reverse years of production declines.

Block 15 is one of Angola’s largest oil-producing blocks but output from its mature fields has fallen in recent years. In 2019, ExxonMobil signed a deal with state-owned Sonangol to redevelop and boost production from the license, which holds approximately 4 billion boe of recoverable resources, according to the US company.

ExxonMobil operates the block with a 40% interest, alongside partners Sonangol, Norway’s Equinor and Azule Energy, an Angola-focused joint venture between BP and Italy’s Eni. It is one of three deepwater blocks held by ExxonMobil offshore Angola.

Agreed there are few really stupid questions.

Lots of people probably learned a lot about buybacks now because of your question and ForensicBloos reply.

Often we think we know how something works till someone questions it.

I’m a very long term investor and I’m still learning

My understanding is that’s always how these buybacks are carried out.

You could not supply 10 million shares in one go.

And anyone asking for 10 million shares at once would move the sp massively.

It used to be opening salvo of a take over to do a dawn raid and buy up all the shares for sale first thing( before you passed a reporting threshold).

That resulted in sp moved up by around £1.

Yes ex div tomorrow so buy today and claim div