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Doesn’t explain the share price drop. All part and parcel of drilling and comes with the territory.

Agreed Soder. Apply WFT to the trading counterparties that profit when hedge crystallised. It’s also a windfall gain, but to a non-operator.

Well it ain’t…yet.

Are you wanting/trying to sell? If not, turn the screen off and stop worrying about the day to day price moves. That’s the concern of a trader rather than an investor. Watching it constantly will do you no good and, for many, there is no need or purpose in marking to market each day. An investor buys a thesis. If you believe it’s intact, let the thesis play out.

Share price has retraced just 2 weeks. It’s not alone in this. No need to announce anything. Unless you’re selling the stock, why worry about short term volatility?

Who did the deals to get the assets in the first place? I believe that was the management…

Yes i think that move would have happened. Overextended to the upside, possibly the opposite now.

Aside from a return of capital to shareholders, what would you do with the cash? Do you think they might be trying to do somehting with it, but that we are not aware yet. These things are generally released after a protracted period of work and negotiaiton. We find out at the conclusion not the incpetion. The 'slob management' has deleivered decent shareholder returns to date?

Decent move. Might do the same.

Buy some more then?

Yep, I got that. Most forecasts are based on zero facts, otherwise they would be, er, actual facts.

Luciano, that’s an excellent stab at highly speculative forecasting. Thanks for sharing.

The dividend is not big enough in absolute $ terms to be cut, bar extraordinary circumstances. A special divi would be well received, but low probability in my view. The 15%+ cut in expected NOI is not my observation, but the company’s.

I have a vested interest in this share doing well. For me, the Q2 update was on the weak side. No major bad news nor good news. All a bit bland. A lot of what was already out there was repeated. That’s fair enough in an update that covers the whole of the quarter, but felt like watching the highlights of a game that you’ve just seen play out live.

15% cut in NOI expectations vs May update.

A tonne of words, but very little news. Took very little from that. Need to see the FCF in next interims.

I thought BLK was reducing, but JPM adding?

In response to the question posed in the first line of the original post - no, I have nothing to say except ‘congratulations’ to anybody that makes a profit. That is one of the objectives of investing in risk assets (as opposed to ‘risk-free’ assets). Not entirely sure I understand what you’re getting at.

Been invested myself for 10+ years. I enjoy the narrative from those that have arrived more recently and not really aware of the journey to this point.

Understand exactly what you’re saying upomega. My last purchase was lined up post-KIST abandonment, but we didn’t dip to my target buy price of 330p. Still, with a 10p book cost, don’t want to be greedy. Leaning more to sell than buy right now, but not yet. Pips have not been squeezed enough - I think there’s more left. Eigg will be a key moment for me. Good luck.

Their funds could have had some redemptions too. So they sell a slice of the affected fund(s).

“Wouldn’t want to be out of this over the weekend…” etc