Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I wonder if the CEO is continuing to buy personal shares in order to qualify for some of the exec perks under her terms of employment (think it was linked to bonus or similar). If not they may have the wrong person running the outfit
Disappointing development, but I understand that John McDonald does in fact wish to spend more time with his family.
That knocks the continuity factor somewhat although he will retain a consultancy position after he stands down.
They have organised the replacement, and JM is keen to to stress that he leaves the company in good hands, and with a list of acquisitions to go for.
January is always a potential month for employees to re-evaluate their futures, but obviously it has been on the table for some time.
I will remain invested. I hope that doesn't turn out to be an unwise move.
Bet he turns up somewhere else in a part time role.
Link below to Money week article on oil price. Another perspective on current seesawing views of supply/demand and affect on oil price:
https://moneyweek.com/498321/watch-the-oil-price-closely-it-could-herald-a-market-rebound/?utm_campaign=money-morning-newsletter&utm_medium=email&utm_source=newsletter
Link to Moneyweek artcile on oil supply/price issues. As ever there will be different perspectives on the supply/demand seesaw, and its affects on prices.
https://moneyweek.com/498321/watch-the-oil-price-closely-it-could-herald-a-market-rebound/?utm_campaign=money-morning-newsletter&utm_medium=email&utm_source=newsletter
Buffet will not just be voting for iphone production, but noting perhaps that Apple is changing and its revenue streams will be maintained as a service orientated company, which a few financial commentators have reflected on previously.
Looks likely they will try to reduce oil production. History of this is rather fraught, given Russia usually breaks any tacit agreement, but they want a steady oil price of $70 if possible. Shale production by the US is becoming a swing factor, driving inventories of oil.
Can't see what PMO's agenda is other than reduce debt. A factor which could change things is the possible sale or Farm in of some of its interests to further reduce the total indebtedness or exposure to debt. Free cash flow isn't going to do the job that for years. Ones thing for certain is that oil service companies are not going to put LOI's in the drawer for years, and pressures will be there at some point for them to increase prices. A quote for work is only valid for so long.
So lots of moving parts for PMO. They may be hoping to secure financing, and then modify their interest share in Sealion asap through a marketing exercise.
Tracsis have posted their final results report today.
Look promising, but slightly flattered by a credit from an 'unearned' deferred payment being credited to the p&l.
However, organic growth looks good.
The CEO is responding to questions on Paul Scott's Stockepedia small cap page, apparently.
Market is either digesting the news, or appears relatively unmoved by the announcement and is treading water at current levels.
Thanks GE17. I was worried someone was flagging up concerns about accounting policies.It would seem from your summary that they are giving an endorsement.
It's a bit chicken and egg on the shareprice, as usually the spread on pricing can be a factor in deterring investors. I think also that being circa £6 creates a pyschological barrier, unless there is very positive growth news. Technically, there is no reason £6 should be a barrier, and it wouldn't be for institutions, but for private investors, maybe.
I came in around the £3-£4 mark, so I am happy. With the tech sector temporarily out of favour, it will be up to individual stocks to justify re-ratings. Tracsis is both steady Eddie, but with the potential capacity to surprise on the upside.
Seems to have started. I suspect this may be a bit of adjustment due to some no doubt temporary positivity of the markets generally.
GE17. What's the chat on ADVFN re the accounting issues. I think generally Tracsis try and maintain a clean'ish set of accounts. I only saw one relatively minor issue when they had a largely flat year.
Cash generation is harder to disguise than EBITDA etc?
the Board is pleased to announce the appointment of Macdonald Gouveia ('Mac') Andrade as a Non-executive Director. Mac, aged 42, will bring significant industry experience to Tracsis, having held various senior roles at FirstGroup Plc, Network Rail, Scottish & Southern Energy and National Grid. Mac is also a Director of Hewsand Consultancy Limited and Tudor Close (Bramley) Limited. There is no further information to be disclosed in accordance with the AIM rules.
Surfit. They always claimed they always wanted to be an oil producer, and not just sell out en route to that position. Hence why they went into the market to acquire other producing assets, unfortunately with a hit or miss effect, depending on what view you take.
I suspect there will be a bit of a bounce once the final result results are released in Nov. Though inevitably this will depend somewhat on any other news in the market at the time.<br /><br />Given the relative illiquid nature of Tracsis shares the share price will tend to move more violently than some other shares. <br /><br />Usually Paul Scott of Stockopedia does an interview, so we will see if this happens again.
Latest RNS says a £2m contract has renewed which is good news. However, does not change outlook for 2018/19.
Shareprice has taken a bit of a caning recent due to the recent stockmarket downturn. Perhaps this was reason that this RNS was released. Still all good news welcome, I guess.
We have been through a whole gamut of difficult issues with RKH in all its different guises. Having a unfriendly neighbour certainly hasn't helped, when we were making cracking discoveries of oil fields when the oil price was high. It rendered RKH quite lonely until PMO made a farm in offer. Unfortunately, because of the size and indebtedness of PMO that offer soon looked an anchor around our neck as the oil price drifted lower, oil storage overflowed, and PMO got tangled in development difficulties with its own discoveries.
Now, whilst Argentina can never be taken for granted, its permanently in some form of financial or political crisis, I suppose it will bumble along for a few years with being a limited threat. It is also being sued because of the previous Govt nationalisation of YPG's interests so in principle it should try to behave sensibly if it wants to open up new commercial opportunities (but who knows with that lot!). The price of oil is moving upwards due to some fairly medium term political issues, and people looking at the longer time line are worrying that the lack of new discoveries may create a future pinch point. Typically that is when the majors start looking at buying, because they have rather gone off looking for new fields themselves.
So there are some upward macro pressures, and RKH itself is creeping towards FID and sanction after a long stall by PMO. Whether they can at the same time farm out some of their RKH interests would I guess be a perfect scenario for them. We must be approaching a time when that looks a viable option. I think there could be a few eager suitors
Quite a bit of commentary in the press and amongst share commentators.
Apparently a well known activist investor has taken a circa 5% stake in the business. They are known to encourage takeovers of the business they invest in.
I think the fact that this activist has taken a stake has woken up a few people to the inherent value in CF.
Some of the commentators have said that some of the headwinds of CF should abate e.g the dollar ratio.
Also, the announcement of the interim and special dividend has sharpened peoples appetite.
It will be interesting to see where it gets to.
Spending his Mum's money as far as I can gather. Sad little chap really.
Be very careful about Chris Oil. He's a bit of a Walter Mitty character. Most of what he says is a vanilla rehash of market and bulletin board chatter. His 'inside' info may or may not be true, who knows. I would personally doubt it.
Some history
https://www.dailymail.co.uk/news/article-3079298/The-accidental-oil-tycoon-B-B-owner
-faces-multi-million-pound-bill-trader-son-accidentally-buys-half-oil-firm-Belize-City-watchdog-says-buy-rest.html
https://www.*************.com/views/20806/tragic-news-chris-oil-quits-blogging-twitter-his-top-12-new-media-moments-listed
https://www.independent.co.uk/news/business/analysis-and-features/take-aim-fire-the-former-armed-robber-unmasked-as-oil-firms-boss-10432045.html
Excellent post GE17. I am basically a fan of Tracsis, in which I have a holding. Its great to have a cost conscious and straight talking CEO rather than a PR agent. Yes, let the number do the talking. Also, I am conscious that they do not want to heavily advertise the margins they make in certain divisions.
I guess they are still a relatively unsung stock, which may irritate the CEO when he has had a particularly good year. But then unless you are a particularly diligent searcher of info, as you appear to be, there is not much else to go on. But maybe that makes it all the more a share which has the potential to surprise on the upside!
You may recall for context of the time and effort that needs to be spent on getting a decision, and then enforcing it, the efforts of American Hedge funds who were suing the Argentinian Govt (yes, our old friends) for effective illegal re-scheduling of a Govt bond they held, which mean they lost a lot of money. They got the judgement, but it took a good while, and the seizing of a Govt Naval vessel in a foreign port to twist the arm of a Govt that was used to and expected to treat those who engaged with it as 'there for the use of'.
Don't get your hopes up that the relevant Italian won't try everything to dodge the bullet.
https://qz.com/1001650/hedge-fund-billionaire-paul-singers-ruthless-strategies-include-bullying-ceos-suing-governments-and-seizing-their-navys-ships/
I don't think we should factor any upside in for the Italian arbitration, even if we are down on our knees praying for a good outcome.
Anything involving the law is usually hugely time consuming, and uncertain. Even a good decision could be subject to foot dragging, and refusal to pay, necessitating further action. Not an area I would invest a great deal of expectation, but always nice to be surprised, of course