The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I would imagine the buybacks started today with the amount of trades.
It is the same time each day. Should have sold out at 292p and bought back at 284 etc.
I would imagine the shorts and large corporations of america will put pressure on the share price.
Maybe I'm wrong but the last buybacks brought the share price down due to the pressure and same will apply again I guess but who knows. Could be £8 next week or £2, the stock market is now just a pure gamble that is manipulated to f##k.
Rookie can I ask how many shares you have? As you aren't bothered about the buybacks. I would hazard a guess that buybacks have started today to stabilize the share price. More buybacks means the higher percentage your dividend is worth. So last time off top of my head it was around 9p a share. I expect it to be about 11.5p. Now if you don't have many shares then probably it won't make a massive difference, but to those that do then it makes a huge difference.
What would they do with the 200million then?
Basically they have manipulated the accounts to screw the government over the payment of tax.
Also it will reduce the negative press we would have had if we had made massive profits. This little amount of tax also provides evidence that the windfall tax is unjust and therefore a reason to get rid of it.
It also allows dividends to be provided plus 200million buybacks which I think will kick in straight away to try and support the share price, plus there will be another 200million buyback later in the year evidence without actually saying they will.
Well they did, buying back the company means that the percentage value of the dividend increases for long-term holders who aren't bothered the ups and downs of the share price over shorter time frames. Eventually, the reduction in shares will mean each one is worth a lot more.
Cheers,
So basically Harbour have not paid the tax but put it as a charge on the accounts, therefore being able to keep the money as free cash flow?
This has therefore then reduced the normal tax payments that exist without the windfall tax and thus keeping our losses for future use? Am I correct?
If so this free cash flows together with Linda's statement about diversifying abroad indicates the money to be used for an aqcuistion at some point
So the government haven't got as much tax as they thought they were going to get?
Can only see this tanking, being manipulated, run it down a week or so before results, to be pumped back up just before results and then those in the know sell off the day before results or sell a percentage as cover.
I can honestly see this in the 230's at this rate.
The update on 9th March is mostly known, production will not be as high this year, FCF not as much due to the taxes (offset by the hedges unwinding). Dividend amount known, what is unknown? Buyback amounts, maybe an increase in dividends, acquisitions.
Debt down to 0.8billion,
Debt free expected in 2023
Dividend expected to be over and above the 200million allocated.
Bought back 8.5% of the company.
57% at year end buy backs complete, still some to go in January onwards.
Decrease investment in the UK, labour provides 15% of all UK oil and gas.
Well I hope so, like I said I went a bit early at 342p. Either way, hold until Feb, March next year and this will be above 400p again and plenty of profit. Well you would like to think.
The next financial update should be decent.
Didnt quite time it right on Monday at 342p, bought some more now at 316p. Hopefully, this has now hit the bottom. But who knows, hopefully not gone too early again. I think the buy backs will push this tomorrow.
I know this is quite personal and some people may not want to share, however, how much does everyone have invested?
I'm at 40k buying in again this morning at 342.98p so 11608 shares, not much to some but a lot to other people.
I only ask this as the weight of people's posts helps me inform opinions. Someone going about their view and it turns out they only have 1k in a share compared to someone with 100k changes the aspect of things. I know people may lie but it is interesting.
What would you do Obsolete?
I guess this is why Linda gets paid the big bucks.
My reasoning for buying back in was the following....
The buybacks kicking in supporting the price.
I feel the 35% for extension period is now finally priced in, anything less than that and this will fly on the grounds that the WFT is not as bad as expected.
Is this the perfect time to expand the company? Like people have said, rather than give the money away to the government, purchase some assets outside the Uk and become a world-wide player on the next scale up.
Personally, I'd buy RKH out and take the Falklands back for cheap and develop it. Sealion is huge and I am sure there will be huge fields nearby (yes, I know it was given away), develop that field. I would also look elsewhere, if Tullow didn't have the debt and uncertainty of the Kenya pipeline then they would also be my target.
Will we see the share price fall due to the $4 drop in oil.
Or will the buy backs underpin this and move forward.
With the uncertainty of Thursday still (even though reports are out about what it will be) is this going to drop to the 330s or 320s or are we going to see it back in the 350s?