Member Info for NAV_Mike

Where we sit at the moment is down nearly 10% and with MMs seemingly keen to take us lower.

@Retec

Im probably just as old fashioned as you are :) In my mind its either debt reduction or a targetted buyback

Given the apparently one-off benefit of the last few months, I wouldnt personally be in favour of increasing the dividend or another general buyback. I realise Im in the minority re buybacks, but to my mind, any benefit are far too theoretical, and I dont see the direct share price benefit of the previous exercises. A buyback to remove/reduce our largest shareholder who wants out is a better use of our recent windfall imho.

Having said that, I would happily be educated as to the legality of this happening....ie can HBR target a specific shareholder?

Given whats happened to the oil market, I really do think we should ensure that our "excess" profits are put to specific one-off use.

I would want that we kept the money as a war chest rather than increasing the dividend a bit, or instigating a general buy back. Use this war chest to do something good with BASF and buy back as many we can at this sort of price. The repurchased shares dont have to be cancelled, they could be kept in treasury to be used in any future M&A

It was reported that powerful nations managed to supress the oil price rise by the release of large amounts of barrels from their strategic reserves. Will they be happy to continue with reduced reserves or will they need to be replenished?

....and another dollop dumped today

Its now four months since any news other than historic results. It would be nice to get confirmation that the company is actually progressing. 19p to 12p in last quarter suggests market thinks otherwise

....but first round of peace talks went well according to Vance (who we all believe implicitly ofc)

Potnak - yes you made my point better than I did :)

They pulled that stunt last time round, a repeat would be wholly unacceptable and probably leave them liable. Im happy to wait for results of the dosing trial, what I dont want to hear is that it was ended early and we werent told

Aye thats probably correct. Sentiment has done an extremely rapid 180 and now all the talk is suddenly of gluts again

Brent is a buck/half off the bottom but we continue to drift

Whats the betting the by-election result later today manages to spook the market?

Four trades this morning, all mis-labelled as buys

The last 60k sell has made the MMs end their generosity and bid is now 21.31

What comes first - an RNS or another Chairmans Corner? If we get bad news now actually after dosing was supposed to finish I honestly think the BoD will have delayed too much, to the point of misconduct. Hopefully that means news will be good or at least satisfactory

We are now bang on the level I said should now be good support (previous strong resistance). Oil price needs to stabilise, upon which I would see a short term bounce to 260

(All theory, and in this messed up market could be wide of the mark)

Having said that, Ive just seen the actual bid is still over 22p so maybe some games being played

Awww cmon mate...you know how much 100k trades stand out in quiet times like this. Not being negative, just twitchy thats all

I would have said 235 was the absolute chart bottom, this being the incredibly strong resistance we struggled to break for so long in 2025. Given all thats occurred since we broke through it, it would be utter madness imho if we got down there, but the market does feel like its lost its marbles at the mo....

Not keen on the 100k sells yesterday and today....

Well needless to say our friends at the largest international banks have been busy slashing their oil price forecasts. Anyone would think they have a vested interest.....

https://oilprice.com/Latest-Energy-News/World-News/Banks-Slash-Oil-Price-Forecasts-After-US-Iran-Breakthrough.html

Must admit ive been taken aback by the speed and severity of this plummet - whatever happened to taking months to get things back to normal once the war ended?

If we can hold at or above 261p today, I will mark that down as a succesful tesf of an important chart level

Of course it is but we have nothing else to go on

Just trying to find a reason for the sells thats all

Certainly an unusual number of (purely coincidental) larger than average sells

It does give you sinking feeling that some insiders have been tipped the wink re some fundtaising . Perhaps the banks werent willing to take on all the Magma Loan risk?

At this stage of the journey, lets hope its not too much and not too much below 4p. Hopefully no fundraise at all

.....has 261 as a "needs to hold" level with a minor gap down beyond that to 253p

After that its down to previous strong resistance around 235p

Not majorly scientific I know, but that chart has served me well in the past. In any event I think we are already at a daft valuation but its a question of when the market wakes up to this

Like I said previously, the only big winners from this will be the EIG, LLOG and BASF holders whose dumping of shares totally obliterated any upward momentum at the time.

Still...at least they got richer eh?