You only have to look at past end of year- share price predictions we 've made before to see we all thought that 32 p was too low. :-)
EPL threw a spanner in the engine, but most of us still believe we will go higher.
@Dumbly : What an eloquence by Mr. Mazzagatti (ammazzare in italian means "to kill", gatti means "cats", so catkiller :-)) indeed! Great interview. I would feel more frustrated than him by the shameless actions of the British Government.
Https://seekingalpha.com/article/4658910-us-oil-production-is-a-lot-more-fluff-than-substance
In case anyone would wonder how ATH's stratospheric share price development has taken place : RBC Capital upgraded the stock to Outperform from Sector Perform with a C$5 price target, as the Canadian company plans to allocate 100% of free cash flow to shareholders through its stock buyback program.
The power of buybacks is undeniable, fook dividends! https://pracap.com/just-smash-the-buybacks/?utm_medium=email&_hsmi=284220610&_hsenc=p2ANqtz-8mGwUi1UDbBkfydH3DJYt4jDyDxpEdGhXTckOeYu_C2htxWkiLzKTtWarJZmoZxputRAHt2OpXM7m667S3JIASMqr0D82Aj9crk1XhVln9K8OLirQ&utm_content=284220610&utm_source=hs_email
Just to show what a small E&P's share price is able of when the heard plays along : have a look at the development of Athabascas Oil 's (ATH) share price development over the last five years. From 0,13 CAD up to 4,05 CAD. Share price near multiyear high. We don't have the same growth potential i guess, but we do produce more and our market cap is so much smaller.
Or how record US oil production can be taken with a pinch of salt : https://www.youtube.com/watch?v=CDBJdQnjE2o&t=989s
I wish i knew, Krak. If one ever needs to check the reliability of the saying "Markets can stay irrational longer than you can stay solvent.", he/she only needs to look at ENQ's share price development. I thought it is because we still carry a considerable debt burden, but HBR is debt-free and that company also keeps flirting with year-lows. When using traditional valuation criteria, we are cheap as chips. Ps : Valuation of smaller American and Canadian E&P's is incredibly low too, but we beat them all.
Some seem to believe oil still has a future. This old man's track record is not the worst. https://seekingalpha.com/news/4046232-warren-buffett-berkshire-boosts-occidental-petroleum-stake
Hi Dumbly, i am also a Vermilion Energy (VET)-shareholder and read this today, you find the statement in the highlights of the presentation from today...A big part of their production and a much bigger part of their free cash flow comes from European gas ...https://www.vermilionenergy.com/invest-with-us/press-releases/press-release-detail/?id=122827
On November 30, 2023, the European Union published a review of the temporary windfall tax and subsequent market developments in the energy sector. The report stated that the situation in energy markets is very different from the exceptional circumstances when the temporary windfall tax was initially established in October 2022, and therefore the European Union has not proposed to extend the mandate beyond 2023.
Https://seekingalpha.com/article/4657301-emotions-run-wild-as-oil-bulls-question-their-existence
What do the royalty buyers and corporate oil executives in USA know that the public market is missing? Perhaps that prime undrilled acreage is quickly running out. While prime Permian acreage could be had for $5,000 per net royalty acre a few years ago, the average price has since surged to closer to $25-30,000. What was once uninvestible has quickly become must own. And today, Occidental Petroleum (OXY) pays above 50 000$ an acre to Crownrock. https://www.bloomberg.com/news/articles/2023-12-11/shale-drilling-rights-jump-to-pre-covid-price-amid-buying-spree?srnd=premium-europe
Https://seekingalpha.com/news/4044986-us-to-see-record-year-end-holiday-air-travel
Https://www.shetnews.co.uk/2023/12/08/enquest-forms-new-company-push/