Thanks for clearing that up for me Sparkle1.
I have just spoken to Halifax share dealing who have informed me that they have not received any payment from Glencore as yet?I told them I found that hard to believe, was told I would have to speak with Glencore directly to try and resolve this,seems the Halifax are holding on to the cash to earn a little interest, will not be using them in the future.any one else having the same issue with the Halifax?
Surely with the floor prices set, at these levels the muppets deem as being the point at which the price is deemed a windfall, the tax should only be paid between the difference of the price down to the floor, ie,if the price of oil is $75 then the tax should be paid on the amount over the floor,75.00-7140 =3.60,so just tax the 3.60,should be done on the same basis as PAYE,40% unto the floor of 71.40,then extra 35% on the difference, lets face it, the way this is set up, every single profit made is being deemed as a windfall, although welcome, they are still way off the mark with this extortion.
The trade is there to see today, an off book P trade, protected portfolio.maybe part of HBR's pointless buybacks?
Do these idiots in politics know how much the price of gas has declined? at current prices there is certainly no windfall attached, and this tax affects HBR more than any other as it is the UK's largest NS independent,the likes of Shell and BP announcing record profits are what's getting them on their high horse, and they can't touch most of that as their production is mainly out of their jurisdiction,and lets face it, it is the sellers of the gas that should be getting taxed, it is them who are truly making the windfall profits,just look at your bills, they are the ones taking the biscuit, they are still being allowed to rip us off with their pricing even as the price per therm is down to 58p from a high of 800p,how can they say that at these prices HBR are making WF profits? they are clearly not, the Labour Party muppets are barking up the wrong tree.
There has not been one trade for this amount of shares all day on the LSE,did you sell them on a dummy CMC account?Walter Mitty,what do you get out of living in a fantasy?
Anybody can view the trades of the day and say that one of them was theirs,if you are going to announce your trade do it as you have just made it, that way it will be there for all to see 15 minutes later, too many Walter Mittys here,GLA genuine holders.
Who were spouting this is an income play?do they not realise that with the price of gas in freefall,which accounts for 50% of HBR production that the incoming cash from sales will be much lower, add to that the little problem of getting taxed @75% on it and it all adds up to a sad story, forget about being debt free as an incentive, this WFT all but negates the benefit, how long before cutting or cancelling the dividend is the question, it has got to be on the cost cutting agenda along with all the job loses already mentioned,HBR does not have a bottomless pit of cash, fact.
Agree, it is soul destroying, and to think a lot of Investors reinvested their dividends yesterday,would have been better spent in the pub, at least that way they would have had a good time getting their hangover headache instead of the headache with no pleasure being invested in this dog.
These shares were trading at a much higher price than they are today, why?because we are getting screwed by the WFT,no price floor in place means every little bit of profit made now is classed as a windfall, we heard at the results that all of the profit was wiped out due to the WFT with oil in the $100's and $90's,so what do we think the current prices are doing to the bottom line just now?unless there is a relaxing in the tax along with rising commodity prices it is goodbye dividend, and by the way, don't offer me advice with what to do with my holding here,i am in deep and over 23k in the hole, since this dog went ex divi I have lost a further 10k in real money terms, on Wednesday I am going to receive a 2k dividend,wtf.
Yes our cost per barrel is $15,but if oil was to drop to say $60 that would mean HBR paying 75% tax on the $45 dollar profit on each barrel, hardly worth it really, the dividend is not guaranteed due to the extortion of the WFT,but if it helps you sleep at night thinking good old HBR will continue to pay the dividend no matter what, then more fool you, it will be the first cost cutting made as it carries no monetary burden for them to do.
Why? next week I am going to receive a dividend of 9.65p a share which is little consolation for the 50p a share I have lost since this dog went ex-divi,the buybacks are only successfully greatly reducing our market cap as the SP is in freefall,i see no point in continuing with them for what good they have done, use whatevers left to further pay down the debt, talk about dividend being safe is total b*****ks,it will almost certainly be the first thing to go in light of the WFT.
In the eyes of the idiots in government it means importing as much as we can from USA whilst taxing the life out of us independent NS operators.wake up Sunak.
with oil in a tailspin,HBR still have to cough up 75% tax on very much reduced profits,as we are 90% NS operator it affects us most, the money being squandered on these useless buybacks would be better used put aside to pay this ridiculous tax, how long do you think HBR will be able to maintain dividend at current level due to drastically reduced commodity prices if they remain low?answer,they won't,the dividend will be the first thing to go, absolute dog of a share that I am into up to my neck, my own fault for sure.
at what price of oil and gas do the government deem as being a windfall?that is the question,to tax NS oilers on all production no matter what the price of commodities is criminal,either put in a price floor, or tax only on a production quotawhich would give some support during outages,they want their cake and eat it,do they not realise that these companies put billions into exploration to secure future production?all one way,all take no give,when oil was in the doldrums and companies were struggling to survive the government did nothing to help them out.
with these pointless buy backs,where is the value in them?they certainly do nothing to stabilise the depressed sp,it has all been one way,down.use the money to pay off the debt,something tangible to see on the balance sheet is more useful surely,when are HBR going to decide enough is enough and do something constructive to stop the rot?radio silence doesn't cut it Linda.
i think i have just gone colour blind,i am seeing red as green,off to specsavers,gla.
thats what it feels like being invested in this dog,the dividend goes no way to pacify the loses incurred here,absloute shambles,they should stop the meaningless waste of resource buying back the shares for what good it is doing,seems like HBR are always in the crosshairs of the market to take it down on every occasion,and always more so than its peers,anyway,gla,we need it.
i would welcome that with open arms,as would a lot of us in here,i don't see a lot sense with wasting all that cash on these buybacks,would it not be better used to reduce the debt and save on the interest payments?how long is it going to be before they announce a reduction or cancellation of the dividend due to the crippling wft?i think this cash would be better used put aside for a rainy day
because providing they keep the dividend pool the same,it will be divided by less shares in issue,so equals more dividend paid per share.