Member Info for NAV_Mike

Also havent they had to RNS as they have broken down below 41%. They have probably been selling for a while and only have to report now because of the breach

In my mind, this in no way explains todays OTT drop. Weve known BASF were selling for a while so why get the sh its today?

Hmmmm its probably the intention it might signal, rather than the actual number of shares thats spooked th markets imho

Agree re triple witching but this drop seems very concentrated on NS oilers. Wouldnt be surprised to hear there was a hatchet job of a brokers note on the sector

Anythings possible I guess

Strange...IG are quoting a Brent spread of 106.42 - 106.48

Are they working off a different futures contract you reckon?

Hmmmm other small/medium oilers like Serica and Ithaca down even more in % terms

Well it looks like something weird was going on yesterday, which has mostly reversed this morning on the back of a mild drop in oil prices. On a a normal day a 17p drop would have to be caused by actual HBR news.....

Oh unless GS are at it again!

Of course it could be down to a realisation of over-exhuberance resulting in heavy profit taking. I was expecting a pull back this morning but nothing like this. Thoughts?

The EIG and LLOG(?) decisions are looking a little duff with the benefit of 20/20 hindsight. Yes I know a discount is inevitable when dealing in those sizes, but selling out in the throes of a middle east war was.......unfortunate, (but probably good for HBR)

On a more serious note, I wonder how much more the price would have to rise before BASF started making enquiries? That would be a whole different ball game

Thank you. I get what hedges are of course, I was just enquiring about the terms under which they operate and any discretion re supply HBR might have.

Sounds as if the answer is very little, if any, which is of course logical I guess

Okay....another gap in my knowledge that needs to be filled in :)

HBR have a large number of hedged barrels that need to be supplied at a price that is now not great with the benefit of 20/20 hindsight. What determiness the priority given to the supply of these 'cheap' barrels? Will there be a specific date by which they have to be delivered (presumably so) or do management have a large degree of discretion?

What Im saying is, to what extent are HBR free to exploit the war-affected while it lasts?

Indeed. Anyway good to see interest is gradually returning this week

Technically, perhaps not but its a significant disposal from a major holder that drops their holding below 10% does it not?

Also people not so well informed might like to know why the price tanked yesterday first thing?

Oh well. c'est la vie

No RNS yet? Seems a bit naughty as the wider marker knew the facts yesterday....

Final comment.....seems a bit strange that this time round we havent had the RNS before the price got knocked. Was the evening before if memort serves

Thanks for increasing my knowledge :)

Sorry...still a bit fuzzy lol. So its the seller who sets a fixed or minimum price, presumably after the bookrunner gives market feedback?

So not like a very large closing auction..... rather fixed at the outset?

Okay potentially dumb question incoming....

Im considering that I have my thinking incorrect on these bookbuilds. If they already know the price is £2.65, is it just a question of them ringing round and finding takers at the price? In which case is it seller that sets the price initially rather than potential buyers finding a level amongst themselves (subject to minimums etc)

(Sorry had a bit of a lightbulb moment)

Hi Bailiff

Well I have a screen showing live IG spreadbet prices and they always work off the 'headline' bid/offer with a slight alteration for their greedy paws. For instance showing 13.93 - 16.08 on Sareum now. They totally ignore the prices being given by the retail prices services or whatver they are called

Aggravating though these placing are, its probably not a bad thing to be widening the shareholder base. Rather too many shares concentrated in too few hands imho

215p was the deal price for LLOG shares as part of the deal

Well theres around 52.m of the shares allocated to LLOG not subject to lockin , so I guess they wanted their money fast. Disappointing they wanted out fast, but I guess thats why they werent all locked in