Member Info for Neversellshell22

Just seen a stat, Britannia is sailing full capacity but interestingly 1200 are newbies…

Positive for the future….

Https://www.reuters.com/business/energy/mexican-tycoon-slim-eyes-two-pemexs-key-fields-gaining-clout-energy-sector-2025-03-14/

It goes to show that there isn’t great profit in it or BP would surely have just kept the equity and funded growth themselves through profit or investments.

Understand it Capitol heavy but it must also be bringing in a fair few £££

So we bought the remaining 50% of the company in October 2024. They said at the time they were bringing a strategic partner at some time.

6 months later we are selling the same 50%.

I don’t quite get it really. Why buy 50% to sell 50%?

I may be I’m missing something??… Help please….

Back in at £14.60 so hopefully a bit of calm returns now and Carnival gets its shine back…

Results should be pretty decent also but you know the fun we have on results day.

Good luck all….

Peter,

They do care about the big losses in their shares, funds and investments.

They will care much more when USA enters a recession which in my opinion is now a certainty.

Trump has managed to upset nearly every country in the world (except Russia) and especially his 3 biggest trading partners who are now looking at other places to sell.

Take the great Musk.. How much damaged is he going to Tesla every day.

This is not going to be pleasant.

“The battle lines are being drawn at BP ahead of the company’s annual general meeting next month. Sources around Elliott had already signalled the activist investor’s displeasure with BP’s strategic reset. Reports now suggest Elliott wants the oil major to sell its petrol station operation and go further on debt reduction.

“BP chief executive Murray Auchincloss has said the new direction for the business is resonating with other shareholders, with concern only shown about the pace rather than the direction of change.

“While the company has abandoned plans to reduce oil and gas production and investments in green projects, its targeted reduction in borrowings would still leave it more indebted than many of its peers. The share price reaction to the strategy reset suggests the market was underwhelmed.

“Elliott is likely to push for the replacement of chair Helge Lund – who looks as green-fingered as the keenest gardener in Elliott’s eyes – having signed off on the ill-fated energy transition plan under Auchincloss’ predecessor Bernard Looney.

“BP will be sitting uneasily in case it gets an aggressive letter from Elliott in the post ahead of the AGM in mid-April. The meeting itself will be a test of the current management’s ability to resist outside pressure and pursue its own course.”

Https://www.investorschronicle.co.uk/content/4ef5513b-fdd7-58d5-be84-7120815e1138

Whats it about please ? Its behind a paywall....

A better finish in USA so who knows we may even have a blue day on Monday.....

The cruises keep going and the money keeps rolling in.....

Bought some today at the never to be beaten £14.90.....Just before the Banana Republic opened.

Looked at their futures index and thought not a bad price. How wrong...

Nice to be back on the friendliest board....

Why would BASF look to do a deal at less than the notional price?.

They certainly don’t need the money. They will exit but only when the price is right…..

Hi Stumpy,

You are 100% correct but BASF are a huge company who sold over 68$ Billion last year so I cant see that they would sell this early into the journey at a huge loss. As you said there might be some dark arts way around it.

The other major problem today was as its alway been ...More of the "Jam Tomorrow". which we have heard so often before..

NEW PRESENTATION.....

https://www.harbourenergy.com/media/3ilpavci/harbour-energy-fy-results-24-cmu-slides.pdf

Cheers Dan,

The bit I don't understand is that Harbour can't buy then at less than £3.60 (unless BASF are willing to sell at a loss) so how can they actually buy back these shares ?

Anyway you cut it, it was a very disappointing day.

The market struggled with the timescale Capitol Day being based on a 3 year plan to 2027. Basically we are standinf still for a while and then paying down debt which might be sensible didn't go down well and the reason wasn't explained clearly.

There were some vere positive areas especially Argentina some negative. Andaman sounds like it will be sold or is at least 5 years away.

The BASF Buy backs mystifies me. They mentioned the possibility but I don't understand why BASF would ever do that at less than the notional £3.60. Help Please ??

Ive stopped "Reasons To Be Cheerful" as I don't believe its true anymore. Im luck a sold a lot a while ago but still hold to many. They are going in the bottom drawer and I can hopefully collect the dividend and sell off at a suitable time.

Tough day Guys and maybe some lessons learned by us all.

NSS

Tyson,

I love you enthusiasm. What for you was impressive today ?

Not looking for any upset but I just don't see anything ??

Today the Company will update investors on how, in the 2025 to 2027 timeframe, it expects:

Production to average around 450 kboepd

Stable operating costs of less than $15/boe

Total annual capital expenditure of less than $2.0 billion in 2026 and 2027, a 25% reduction on 2025 levels

Material free cash flow generation of c.$2.0-4.0 billion1

A competitive annual dividend of $455 million2

$0.5-1.0 billion of debt reduction, in line with a conservative approach to balance sheet management

The potential for material additional shareholder returns via share buybacks

So they are giving a nearly 3 year time from, production is down and they will only pay back 0.5-1 billion $

Could be another fun day.....

So this Thursday sees our long awaited Capitol Markets Day. If it’s anything like BP it will be a damp squib.

However Harbour gave us hardly any info at the update so there should be lots of news.

I’m still in but with a much smaller holding as quite simply I no longer trust the board. They will need to earn that.

I just don’t understand why they have left us rot at this level of SP at the beginning of a so called new dawn and us producing nearly 500k Bopd ??

To be honest our whole stock market is a side show and the prices change every day when the US opens.

Will they like our new strategy?.. fingers crossed..