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Retail shareholders are an irritation to most Companies unless Funding isn’t available via any other source, but then you’re probably sunk anyway. The placing price offered won’t have been of much concern to the Board, why upset yourselves over a few thousand investors who flood in and out of your Company. The supportive Institutions are all that matters and they’ll be voting in favour of all Directors, so don’t expect much sympathy at the AGM .
I’m also told that another bonus for EV owners is given the cars heavier weight and rapid acceleration they tend to burn through tyres 20% faster than ICE vehicles, plus they cost quite a bit more if you need an XL rating. Perhaps not the car of choice for boy racers !
Meanwhile we have Iraq showing a conscience, as OPEC’s second-largest producer, said it would reduce crude exports to 3.3 million barrels a day (bpd) in the coming months to compensate for exceeding its OPEC+ quota since January, a pledge that would cut shipments by 130,000 bpd from last month. It all helps.
You can’t expect the CFO to lock his money in here, he will have Options, so why deposit say £100k in here when that can earn several hundred a month in Interest, that’s for mugs of should I say shareholders !
Would agree that the recent uplift inBrent should pave the way to a slightly more aggressive position on Buybacks , although given AB’s naturally cautious demeanour I suspect any Dividend would be set at a level he felt could be maintained even with a sharp OP pull back.
If neither happens I hope he’s prepared with some good answers !
I’m beginning to warm towards the Reform Party, at least they’re honest that Net Zero = Net Stupid and would escalate new O&G licensing in the NS, believing the UK still has a valuable energy resource. With a fair wind they could muster enough support to temper some of the more outlandish mutterings coming from Labour. All is not lost.
I’m more interested in the Local elections and which corrupt politians get in. When they dictate your Licence extensions and future taxation ( WFT anyone ) the road ahead can be rather murky.
Most thou I guess will be in and out here before then, at least those with any sense !
At least AB knows that all his Tory Party donations and lobbying has come to nowt, so he should relish the idea of showing them ‘two fingers’ by rewarding himself and fellow shareholders with dividends they still haven’t managed to steal. And as regards Labour, well shall expect the Market to nosedive if elected !
Yes surprised they opted for $85 as their benchmark, if tensions in the ME subside during H2 & Opec decide they’ll turn the taps back on, then it’s back to what their Hedging Strategy looks like.
Expect a flurry of new Contract awards over the coming months given global investment in the O&G sector ( outside of the NS …,thanks to Hunt ) has its own momentum, and PFC’s own comments “ a healthy Group pipeline scheduled for award in the next 18 months of US$62 billion “. We also have a healthy level of Traders “ Short”.