Member Info for NAV_Mike

Yep they have certainly eliminated a vast swathe of the cash swaps they had outstanding.....most of which werent due to be settled any time soon

It remains to be seen if they just replace them with differently dated swaps....but why bother doing the exercise

Also I wonder if this has any link to the Taconic short? (pure guesswork)

Kign

I actually dont think its anything untoward, but it probably does make a mockery of volume statistics used by analysis and charting software

There are 2 very large matched pairs of trades that took place today, one for 2.77m the other for 3.9m both of which have been dumped in the sell column by ADVFN

I dont think for one they are individual sells, or the price would have cratered.....I think its more likely to be insti holders shuffling shares between funds

We have very high volume of over 14m so far but is it all an illusion?

2 x 2.77m and 2 x 3.9m have gone through today. Genuine buying and selling or just large holders shuffling their packs?

If its the latter, it makes a mockery of quoted volume stats imho

The problem is, that with the current EPL in place, there are those who would argue HBR is currently fairly valued and there is no discount

I dont agree, but I also dont think its as clear cut as you state. However I do think that one of the best things in recent results was that management are now basing forward projections on more realistic target prices of 80 and 100. Hopefully that will make second half budgets easier to achieve

Argh typos (having not finished my first coffew lol

"They do appear to be stepping it up having fallen to 455k on 11.08"

Not that it really matters, but highest was 593.5k on 31.03.23 followed by 3 x 590k in April

They do appear to be stepping it having fallen to 11.08

Probably have a target date for completion.....I make it 19 days if current rate is maintaines

.....or buying for the divi coming soon

Well they really cut the knees out from the price first thing on no selling, so I presume that may have been follow through from a crappy UT yesterday and a poor Dow showing

Price has bounced straight back to show small gain, but that only against the UT trade, we are still off 1.5p against closing bid price

Brent stabilised so lets keep fingers crossed for some kind of recovery

Nice summary Megla

When you think about it, its a damn good job we did reduce debt dramatically else the savage reduction in the RBL facility might have seen us close to our limits

Yesterday also wasnt helped by a big tumble in UK gas prices.....didnt notice until this morning

Looking forward, as long as oil/gas stay above HBRs revised target prices for oil/gas we should be alright. The thing is, is doing 'alright' going to provide resistance against the sellling and shorting?

Our best hope remains profitable overseas expansion, but our warchest has taken a real kick in the nads thanks to the EPL

But of course we can always rely on the chuckle brothers Sunak and Hunt to come to their senses cant we?

Oversize closing auction trade transacted at 2p below the closing bid

Deep joy....I think I hear the off licence calling lol

Yes I saw that about Finance Costs as well - the Notes to the Accounts are always where the nitty gritty is hidden away. $48m in bank fees and $74m in the unwinding of discounts provisions re decommisionig....you what lol

You would have hoped that the clearing of debt would have drastically reduced finance costs, not increased the damn things by $100m!

Thanks for the link Stupmy...I will give it a couple of days as Im not sure the likes of Taconic always rush to file their disclosures

If its not shorters, then I guess the city just didnt like the results. Whilst 4.4m volume is higher than the recent snoozefests,it doesnt suggest wholesale dumping.

At what point does the yield actually provide support? Approaching 9% now but doesnt appear to provide a floor as of yet

Well as I said this morning, I thought the results were okay, but I guess the AT city boys have spoken today. Haven seen them so active in quite a while....but I guess it is results day. Be interestng to see if our shorty friends have contributed to this latest dump downwards

Oh well at least the current management forecasts are based on more realistic figures for the rest of the year

I would just like to Sunak or that unlikeable fool Hunt to come out and explain exactly where is this windfall that warrants a 75% tax rate

One good war-induced good year no way warrants a punitive tax regime lasting for years to come

Aye I do agree with you mate, I was just trying to rationalise why they had gone into overdrive since the beginning of August

However if they do have access to the shares held by Noble, thats probably a better explanation than a fundraise

Decent timing stupmy :)

On second read, I can certainly live with the results though Im not exactly gurgling with excitement. We all knew oil/gas prices were down in the six months, and at least their new assumptions of 80 and 100 are more in the ball park

Im happy there wasnt anything obvious for Taconic to go into overdrive about. I was starting to consider that some sort of fundraise was on the way and that was how they were gong to close their short

Not exactly helped by Brent heading back toward $82

Look at the damn algos having a field day....bombarding the SETS book with 50 share trades

Important to note that while the headline was a loss after tax of $8m, total equity of the business (net value to shareholders) increased by $392.6m

All caused by the fannying around with fair value valuation of hedging

Ignore the ref to 9.5% at end of last post. Getting my $ and £ mixed up