Member Info for Nightpusher

No Chance,all their planes will be leased for sure,Alitalia has been in a state of near bankrupcy for 50 years

https://www.telegraph.co.uk/business/2021/05/22/kurdish-oil-giant-spotlight-secret-deal-revealed/

A wee link from DT,not that any of us are unaware of the corrupt activities prelavent in Kurdishistan

Have to say Boyo that I like your well thought out posts but you consistently refuse to draw the Genl dividend into your chat,charts or general conversation.At todays price we have a divi yield of around 6.75%,not been cut by two thirds like RDSB or half like BP.l.By the way Genelians hashiba surfaced today on the HUR posts,his usual bombastic self but I am so glad that I dodged that bullet and utilised the funds that I was considering planting in HUR at over 50 at the time into this much unloved Kurdistan driller

Very valid point Boyo and am doing this with Harbour energy as I jumped too quick on float day as it shot up in the first 15 minutes of trading.Just hope HBR wont cause the anxiety that Genl has.So have stayed off the fat buy finger so far as creditors are still unloading the stock
RDSB I am happy to keep for at least 3 more years but I am disappointed by SP reaction to early update that Q! is well profitable

Texan
you are correct that the government has left the door open in its present decision concerning offering new blocks up for sale

Gosia
Each block that has been sold and retained over the years has an operator and partners.If the operator decides to drill a well be it an exploration well in this block or any style of well from a production platform they need to apply for a license to drill said well from OGA or Oil and Gas authority,this will include well plan,safety case and many more bits of documentation.I doubt that with Capex budget restraints any oil company plans further ahead than 12 months.I do not know the how long the oil company gets to drill said well before it needs to reapply to drill.According to Energy voice only 5 exploration wells were drilled in UK N Sea in 2020 and no appraisal wells which shocked me

Gosia
The government has stated in a white paper that it is probable that no new blocks will be offered up for sale and thus no new licences on those blocks.They are not in anyway saying that drilling licences on existing blocks will be turned down by relevant authorities.

Not me either,I only have half that amount of shares and will sell in tranches hopefully starting above £2.6 but I wont be buying bank shares for sure.Not sure I should be buying shares anyway as I could not resist Harbour energy and bought a couple of tranches and I am 10% down already even after yesterdays bounce.
But I do remain convinced that there could well be a supply problem for oil in the next 18 months but thats based on 35 years in the oil business,not enough drilling going on to replace lost stock but maybe Shale producers will come to the rescue.Even if some have gone bankrupt someone will have bought the assets and acreage.

I think both Rdsb and Bp are about to commence buybacks,while I would prefer the money to be used to reduce debt but not sure when they announce that they have made their purchases.
I do rember remeber an earlier Genel buy back but cant remember the reason.So many dramas for us loya shareholders

BP or not
Have never really ever got my head around buybacks as a benefit to a shareholder,I realise its great for the balance sheet for directors bonuses but its awhile since BP did a scrip dividend so there has been no dilution in the amount of shares on the market.I would prefer they used the money to reduce debt first.have I missed something?

Boyo,part of the answer to the divergence must be the fact that Chevron did not cut its dividend while Van Beurden slashed ours by 66%.I appreciate that RDSB actually gained its SP on the day that we were hit with this seismic news but overall sentiment went out the window.My reaction was to cease DIvi reinvestment and use the the money to buy other more promising shares
On another point can you utilise you superb skills with your charts to reassure me that buy backs actually boost share price as I have never been convinced.I see them as acceptable after a period of Scrip dividend payments to reduce the amount of shares in circulation after Scrip dilution but I can only see that they make the books look better at year end and of little benefit to shareholders even in long term scenario.

Its a BOP,Blow out preventer and its not a valve its normally 4 Sets of ram preventers and 2 spherical preventers
Point 2 Cameron Shear rams are unable to shear tool joints,only the tubular section of the drill pipe.
Should read the final DOJ report,its very interesting and enlightening but also completely twisted against BP.
A blow out is not a single event,its a culmination of errors that eventually allows hydrocarbons to exit the well bore under the drill floor and in this case allowed gas to enter the the diesel engines intakes and blow up all the engines'
RIP all eleven souls who perished

I expect harbour to go back for the BP North Sea assets v v v soon,

Soder,I do not think that's possible now as BP have closed the bid process for these assets and will announce the buyer in due course but I stand to be corrected on this as I have no link to post but I read it recently as a BP stakeholder as well.

I am getting a buy on II now but not earlier its .2125 just now but it does seem blocked in a narrow range

Jim,
its a small Kurdistan driller that did not cut its excellent dividend in spite of many headwinds in the global oil market

Need to chat with Boyo,he exited at exactly the right time last week.I keep it on my portfolio to remind me how stupid I was to get involved with PFC.
Its not for the faint hearted for sure.They have some results up soon,may be best to wait till then but I rather suspect that sentiment is not with PFC but smart short term investment could earn you 20% if your timing is right.

bankrupt travel stocks leading the market higher! Lol
Have to agree with that statement

I was amused by Modestus comment a few days ago about how quiet these pages used to be probably till Gamestop came into the news in a battle with the shorters and suddenly everyone seems to think there is a buck to be made with PFC.You maybe right,I certainly hope so as I have held a serious shareholding in this company for a few years but you are now discovering that PFC does not really follow any patterns at all. The new contracts are relatively small affairs that really just enables the company to keep its skilled people working and on the company payroll.Getting the ADNOC contract back would be big news but it will take many quarters to get the company profits look a bit more sustainable.Oil price does not move service companies much on the upside so you might as well sit back and enjoy the ride but it might be disappointing for some

No big deal there Kilman,I have a contract note from Barclays for PFC at 1441.82 for a purchase on 21/10/2013.This share had great potential then and was doing better than Wood Group.Just kept reinvesting divi and sometimes bought a few extra as well.I am not really convinced that this share is really taking off yet as we have had many false dawns over the last 8 years.Sentiment around oil prices has been great recently but that can all evaporate in 24 hours as serious investors like Boyo have seen a few times especially with another oil related share that we both own.Enjoy the day in the sun but remember that oil service companies do not follow the same pattern as oil companies re share price swings and the day when PFC can produce a good profit are a few quarters away for sure

Modestus.
You are quite correct re oil services rally v oil companies.When oil plummets both service and oil companies tumble but as the price goes up oil service lags oil companies for obvious reasons concerning future work and contracts.Am buying SLB and Rig on a monthly basis now.Rig(transocean has gone up like a rocket).Worked for both of them anyway.