Member Info for neredowell

Our share price is withering again from a news drought but at least Keir Starmer's going!

What has happened to the share buy back, it's gone very quiet for quite a long while. The last notification was 26/03, either they're buying back shares or they're not, it's clearly not that they're too expensive!!

No one's interested in POW, the volume is at 9 today and our SP languishes at 12-13p for month after month. What's happening at Minestarters, Apex Royalties, these are shareholder investments too, regular updates would be nice to have. This feels like a share going nowhere.

At least Keir Starmer has the excuse he's no money in the bank, just mountains of debt to service; Sean Wade doesn't, he just needs to promote Power Metal Resources PLC with its panoply of projects, investments and cash, for God sake that can't be so hard to do, can it?!

How can a company with so many projects on the go have so little to say?

Volume today is 5, that says it all, Sean Wade, like Kier Starmer, needs to go!

They're probably using AI for these decisions.

Net Zero is sanity, climate change is real, it's here and getting worse. If this isn't our signal to electrify using renewables then humanity not to mention all the other species we're taking down with us, is done for. The Iranian conflict is our final call to wake the f**k-up!

This is the problem with punitive damages. $16.1billion was very high and Argentina was never realistically going to be able to pay. Was there any court statement as to how the sum of $16.1bn was arrived at? It would have been better for Judge Preska to have set a lower amount that was less likely to have been successfully appealed. It is right that damages must be paid to YPF shareholders that had their shares expropriated and the hearings for shareholders affected should be in the local jurisdiction to the exchange where the shares were traded. This appeals court ruling must be overturned or else other international stock markets will benefit from this ruling at the expense of the NYSE, and rightly so.

This decision undermines the NYSE too. There are 18 Argentine Corporations listed on the NYSE, this case sets a precedent. If those corporations or the Argentinian government choose to expropriate shareholder funds, then the shareholders need to seek redress in an Argentine court. Surely the NYSE provided YPF with a liquidity not available on the Buenos Aires Stock Exchange. Investors on the NYSE are secure in the understanding they are protected by US Law. If that is no longer the case the NYSE is weakened. In finance confidence is everything.

Rule of law in the USA is not what it once was! Expropriation could become all the rage now. It must have looked like quite a safe investment when Burford first took the case, let's hope they have some decent cases in their portfolio to work our SP back from the abyss.

Surely Ceres is the answer to weening ourselves off oil & gas. Shouldn't we all be embracing this opportunity to move to renewables with hydrogen fuel cell tech in the vanguard? Renewables are the answer to so much, not just climate change.

A pretty negative trading update including lost, quite high value tenders postponed orders etc. It would have been nice to have a more positive spin at the end regarding the business; sadly, the Steelman statue butters no parsnips!

I'm confused by the two shares that are listed on LSE. They appear to be the same company, Prospex Energy Share Price (PXEN.GB.PL) is up today at £0039 PXEN is down at £0.038. Can anyone tell be what's going on?

If we were planning a buyback this would be a great time! Or are we planning for our SP is to go even lower? Have the fundamentals of POW changed as a result of a higher oil price or the Iran war in general? What is the position of Power Arabia, is it under threat from Iranian missile/drone attack? I would have thought it was far from the action.

New RNS 14/03: Argentina says US Justice Dept backs bid to halt discovery in YPF nationalization case. (Not showing on LSE as yet)

BUENOS AIRES, March 14 (Reuters) - The U.S. ​Justice Department ⁠has filed a memorandum supporting ​Argentina's bid to suspend a discovery process in a New York court case ​tied ‌to the 2012 nationalization of state oil company YPF, Argentina's Treasury Attorney's Office ⁠said on Saturday.

The filing, submitted to the ⁠Southern District Court of ​New York, argues the current discovery is overly intrusive and violates principles of international courtesy and reciprocity. The U.S. government also urged courts to ​defer ‌to the executive branch's foreign policy stance when weighing public interest in such matters.

Argentina is seeking to halt the discovery process and the withdrawal of a contempt motion filed by plaintiffs Petersen Energía Inversora ​and Eton Park Capital Management, which were awarded $16.1 billion in damages. ‌The litigation is funded by UK-based Burford Capital, which would receive a significant share of any payout ‌and had sought information on Argentina's central bank gold reserves.

Argentina maintains the case falls outside U.S. jurisdiction, should be governed by Argentine law, ​and asserts that President Javier Milei's administration, in office since December 2023, has fully ‌cooperated with legal requests. It deems the discovery demands disproportionate. The United States and Argentina have strengthened economic ties under libertarian Milei's government and ⁠U.S. President ⁠Donald Trump, with Washington becoming a key ‌backer of Argentina's plan to seek international investment. YPF is Argentina's largest oil and gas ​company with ​goals of becoming a global energy exporter through ‌the development of the country's Vaca Muerta shale formation, which has the world's second-largest shale gas reserves and fourth-largest shale oil reserves. (Report by Lucila Sigal; Editing by Alexander Villegas and Emelia Sithole-Matarise)

Perhaps they're waiting for the SP to get back to 0.12 before they start buying again, it looks like that's the way we're going.

The SP is nice and low and still no buy back. It would be good to know why the BoD has suspended it, but perhaps they can't because of news coming down the track that they can't divulge and can't buy back due to insider trading rules. This is the most frustrating of my portfolio of frustrating shares! Thank God I invested in gold & silver 10 years ago, which did nothing until Trump's second coming then it came good. While there's life there's hope!

Seems to me that YPF has blighted our share price. Clearly legal actions against nations and their governments are a political quagmire. Surely Burford have other successful corporate cases that they should be judged by, rather than this never ending nightmarish YPF case that drags on for years never reaching a conclusion. There was a time that the YPF was going to make us all rich, that seems to be no longer the case.

"...and rising"! Completely static this morning as it has been for most of the many years I've held it!

Thanks Doc, What about my point regarding any positive news i.e. a Uranium find or something turns-up in the Gulf, surely that will extent the time and cost of the buy back due to increased market demand for our shares.