Member Info for NAV_Mike

They do sometimes report the morning after

Well since the Taconic short closed, there has been a very noticeable reduction in downside algo pressure. Either it was them, or as another poster speculated, perhaps it was all part of a management plan to supress the price while the buyback was being conducted

Of course the easiest answer is probably a consistently strong, and getting stronger oil price

You would like to think so, but given that the enviromental net-zero brigade are in meltdown this morning, I cant see the govt being keen to give more benefits to the oil companies just yet

Beetham must have been correct as the buyback continued today with no slowdown (in fact an increase to 605k shares).

Money spent so far - $202.86m

Shares currently in issue - 770.969m

For all you tinfoil hat wearers out there.....

What an amazing coincidence that as we enter the end phase of this current buyback, the share bid price is within half a penny of the average VWAP paid going back to March 2023. Almost as if the share has been held in place while the buyback is executed

Okay yes thats bit of a stretch, but also rather a coincidence

I didnt realise they regarded the dividends and buybacks as coming out of the same pool of money, but your point is a fair one....thanks

Erm....did someone not tell them to stop buying when they reached $200m?

By my calcs to day today took them to $201.2m and there was no mention in today's RNS that the buyback was concluded.

Probably nothing but curious nonetheless

UK Gas now at 111p per therm today, so that both oil and gas over 10% higher than HBR's budgeted figures. Surely must at least provide support to the price, even though we all know it should really be trending higher, save for the effin EPL

On a separate note, whenever I see Goldmans and JPM predicting considerably higher oil prices, I just think "well thats them loaded up on long positions then". They'll make their money then find some reason to pronounce that prices will plummet, and it all repeats lol

.......my HBR threads get clogged up with the ramblings of these sad sad loonies

Please dont enage with them, even in the slightest, just filter and report

....during the current buyback, a summary of where we ended up

63.9m shares repurchased at an average VWAP of £2.4785

Remaining shares in issue today - 772.315m

At the closing bid price of £2.506 there is a theoretic gain of £1.935m but of course the price has been taken lower twice during the period for ex-dividend adjustments.

I reckon only $199.2m spent to date, so maybe there will be a very small mop-up on Monday

At least it wasnt a direct financial disaster like last time

Yes, ordinarily 150 million shares would have worked wonders for divi yield / EPS and the share price would have probably risen to reflect that.

Unfortunately, the chuckle brothers have inflicted the EPL on us which has wiped out our EPS. Yes the yield has improved, but there are many other companies offering similar yields who dont have to produce oil from the North Sea

Overseas M&A would appear to be our hopeful salvation, but at the moment its all just words. We can but hope that growing our existing operations in Indonesia will bear fruit as well.

Well with Brent exceeding the $80 budgeted figure for the second half, maybe we'll get a bit closer to being debt free come the end of 2023

I do agree on EB...probably a very decent person, but not yet the sort of speaker you want fronting an important presentation

Thanks for that Nitro....appreciated it

It rather begs the question why that isnt on the company website? They could release a RNS directing investors to it. I know it would be a somewhat "fluffy" RNS but many other companies do it

People shouldnt have to go rooting round on YouTube to find videos like that

Next week we will see 600k a day buying removed from the markets. I guess we will see if the buybacks have supported the share price, or created a false demand that others can sell into

With Brent at $93 and UK Gas now just going over £1, HBRs second half busgets should be being matched or exceeded

Hard to see though with EPL taking all our (increasing) profits how we can get back to the giddy heights of £3+??

PS I totally agree re HBRs IR department. For a $2.5bn company, all we get are standatd RNS re buybacks and results. Oh yeak tell a lie, there was one re the sale of the vietnam business for $94m. Wow-wee lol

Day to day working capital (current assets less current liabilities) improved by $8m in the period which is a positive. Trade Debtors increased by $9.5m which Eric had alluded to in the prior trading update.

Not seeing anything we didnt really already know but all is positive especially as only three months of Singida included

When the current round finishes on Friday/Monday we will have bought back very close to 64m shares at an average of nearly £2.48

By my reckoning we have spent circa $193.6m so far on this round of buybacks

At the current daily rate I reckon we will end up at around $199.2m by close Friday

Personally I reckon they will call it quits there or perhaps accelerate buying a little over next three days. Cant see it hanging over into Monday

Will be a hard sell to the general public if they are seeing their fuel and utility bills rising again as a result of higher crude.

Government will covince the public oil companies are making billions from the North Sea, then forget to mention they are taking it all in tax....

Thank you for the response

So the actual trading profit was nearer £160m on which the tax provision was circa £123m. Not as severe as HBR but pretty consistent

Forgive me, but I have zero knowledge of SQZ and dont have time today to research - Im just looking at another North Sea producer announcing results

Unlike HBR, their profit before tax wasnt wiped out and swung into loss. Any obvious reason for this?