Member Info for Muchaboutmoney

Hey Michael,

We all feel your pain but no reason why a £250m payout from OM won't see us back at 50p almost instantly so don't give up yet!

Incorrect. Bonuses have not continued.

Last year Lloyds was the only UK Bank to pay no bonuses to staff whatsoever.

Agree. My point was more about the blissfully ignorant that will just sit n their hands no knowing what to do, should they even read the terms of the offer let alone know what to do.

I think you over estimate the number of people who will actually do anything and accept the offer.

A lot of retail shareholders will either ignore the info, have missed it or will do nothing.

It happens a lot where so many shares are now held in nominee broker accounts that rely on messages being sent and read under the corporate actions banner.

After today's inflation figures and yesterday's employment data, Lloyds just became a one way bet.

60p by Christmas and more to come in the run up to the year end results.

Strong Buy

Wow .. they really did get looked in the eye by the government and blinked.

New highly inflationary times ahead with ultimately higher interest rates to come as the inflation genie is out of the bottle and no-one has the balls to put it back in there..

A gradual rise from here would have under pinned sterling and sent a message. We now face higher rates and rampant inflation .

A terrible decision today.

I guess the one thing that we should seek comfort from is the fact that interest is paid on an award at 7% representing the loss of ability to utilise capital that you have been deprived of, so on a 300m award that's a hefty 21m a year of extra cash!

I think once COP26 is out of the way we may get confirmation of the award.

Much

Ombrina Mare was always going to be where the buck stops, however I wish they would get a move on. Talk about like watching paint dry.

Not going to go over old ground but Ombrina Mare and the IEC is the closest you are ever going to get to a 'sure thing'. Rockhopper will win and win handsomely.

This was always going to be our get out of jail free card and still likely to be just that with an outside chance that Navitas and Harbour manage to being in someone with deep pockets to get Sealion up and running with oil at $85.

Its going to be a very happy or rubbish Christmas!

Trust me Falky,

The B of E will raise rates on Thursday no question. They need to support sterling as any weakness in the currency will result in imported inflation as well as the wage /cost price inflation spiral we have already entered.

Only question is whether its to 0.25 or straight to 0.5%.

Expect a hefty rise in Lloyds whether its 0.25% or 0.5%

50p now appears to be the level of support.

With an interest rate rise inevitable next week this is only going one way from here and that’s up!

Breakout any time soon…

Hey Surfit and thank you

I wouldn't disagree with anything you have said. Like you I am gutted and shocked that we haven't seen Sealion FID but regardless we are where we are.

I too thought Harbour would seek to develop Sealion but instead they have gone crawling into the arms of the Mexicans. Only hope is they might have found someone to take the project on or we will end up with the thing back in our hands with a lot of the preparatory work completed so she is ready to go with the right partner at $80 Brent.

I guess where I am coming from is that whilst Sam and co have done very nicely, they will all become extraordinarily wealthy should Ombrina Mare come in and Sealion be developed. In other words I firmly believe that they want this as much as the rest of us and will be doing everything they can to get a new farm in.

To this end, attempting to drag them in front of the baying mob until we have seen the outcome of Ombrina Mare and heard a bit more about what is happening with Sealion feels premature.

I would happily seem them all taken to the gallows and watch Glenrothes swing his axe, but only when the full story has played out.

There is no silver bullet and it's important to think beyond taking our anger out on some individuals in order to achieve some form of retribution when things could be about to take a turn for the better.

Had to have a chuckle about the 'troublesome shareholders' in the summary.

It appears you're not the ground breaking revolutionary you thought you were ..... :)

https://www.growthbusiness.co.uk/what-is-a-cash-shell-1047072/

No Glenrothes, I wouldn't.

If you want to see how Hedge Funds operate and the kind of positions they like to take when they see opportunities you can spend the weekend googling it for yourself.

Here's something to get you started with around cash shells however, as we may just inadvertently become one if no-one shows any interest in Sealion.

Sorry I haven't seen fit to join your pointless revolution although I'm not in the least bit surprised to see you seeking out and looking to belittle anyone who doesn't share your views.

Looking through history I guess you are in good company when it comes to people who sought to quash the rights of others to voice their opinion.

We (some of) the shareholders ............

Interesting ...... RAB and Aedos are hedge funds.

I would imagine they see an opportunity through Ombrina Mare and the potential for a cash shell or quick profit based upon a hefty pay out.

Whoever is offering them up must need their heads testing.

Imagine a sudden announcement of an award? These would be snapped up in a jiffy before the share price rises inexorably higher.

The arbitration panel won’t be swayed by eco warriors or the trend toward net zero.

They are effectively lawyers who will seek to make a judgement based on the case and an award based upon costs and lost profits. End of story.

It is going to be interesting to see what oil price they use when working out lost profits though.

Hey Godders and thank you for reaching out in such a way. Takes a decent person to write what you have said and you have earned my respect for what its worth.

Ultimately we'll get to hear in due course. The reason I was annoyed is that what you originally stated would have indeed had a serious impact re the share price following any award and at the very least we owe it to everyone on the board to ensure that wherever possible, what we state is correct as thousands of pounds are at stake and we're all feeling the pain at the moment.

Regardless hopefully happier times ahead post the OM announcement.

Good to sew the share price starting to recover a bit and some decent size trades on the buy side.

Much

Godders….. did you get your numbers round the wrong way?

I think it’s safe to conclude based upon what I stated and subsequent interjections that their isn’t going to be a tax liability if Harbour hand it all back

Only if Harbour get a new partner in and the original arrangements are maintained will there be a capital gains tax liability and even then it won’t apply until first oil.

So there you have it, no tax liability unless we get a new farm in and the same carry.

So the commercial banker was correct but there again what did you expect? Anyone who bothered to listen to Sam’s presentation would have known this as he covered it off very well. Listen to what the CEO said and all will become clear.

So looks like it’s Much 1 Godders & Barnyard 0 … what a lovely couple of ill informed individuals you make.

Would someone like to show me where £400m was received and stated in the accounts as cash?

No thought not ........