The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Good news this morning although no information at all on what they’ve found and the reservoir quality. I guess that’s just the way Shell do things.
Does anybody have a link to what was prognosed here? Was reservoir quality high risk or was it expected to be good at this location? Encouraging that the analogous Darach prospect flowed well but I can’t find anything about the expected reservoir quality at Pensacola.
Encouraging to see this underway already. First decision on stay of enforcement shouldn’t be too far away:
“As soon as the Tribunal or Committee is constituted it shall, if either party requests, rule within 30 days on whether such stay should be continued; unless it decides to continue the stay, it shall automatically be terminated”.
Yes well spotted. That survey vessel was mapping the area around Oswig and Tune for some time and they insinuated a couple of times that there was the possibility of a southern extension to Oswig that might be shallower and therefore likely to have better reservoir quality. I guess this one of these licenses includes that area.
Interested to hear more about the other two tomorrow.
My favourite poster of all time - videodawn. Insight, wisdom and wit as well as a great storyteller.
Please keep posting SBP, when you get the time, but you certainly deserve to relax & enjoy yourself - congratulations on an epic trade. If that’s your last then it’s a memorable one to end with! All the best and thanks for the laughs over the years.
Before I bother the company with an email, has anybody contacted them to enquire why they haven’t recommended the buybacks yet? I thought It was a Christmas pause but was restarting in the New Year. Apologies if this has been covered but I can’t see it amongst all the posts.
Although few people will want to admit it, the reality is that none of the Covid responses saved lives - if anything they cost a lot more. Masks, vaccines, lockdowns - not just pointless but damaging.
The cure was far worse than the disease and we will pay for those mistakes for generations. No wonder they will never admit it.
Judging by other cases it usually takes 3-4 months to get an initial hearing on the stay of enforcement once the tribunal is formed. That takes us to end of Q1 - although it would be nice to see it fast-tracked that might be wishful thinking!
Latest Development:
December 7, 2022 - The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Michael Nolan (U.S.), President; Eva Kalnina (Latvian); and Carita Wallgren-Lindholm (Finnish); all members appointed by the Chairman of the Administrative Council.
Just hope Jeremy Hunt doesn’t read this board or he will put the WFT up again ;-).
Linda mopping up another 777k shares.
780k.
That will make Oil happy!
And a nice day for the company to mop up some buybacks eh Oil!
If Brent stays at its current level or drops further over the next 7-10 days then I suspect OPEC will cut again. It seems to be widely acknowledged that they want a $90 baseline and with China lockdowns I think they will take a proactive decision.
Gas prices will look after themselves as Europe gets colder.
We could do with some added pressure on HMG with regards to the WFT but even if it stays at it is, HBR looks massively undervalued at current prices.
Don’t think of them as buybacks Oil.
HBR are making a daily investment every day in a well run, profitable oil & gas company with high quality assets and low debt.
What’s not to like?
Calm down Oil!
Harbour are only allowed to buy at the bottom from now on, so you’d better tell them what the bottom is and make sure they can get $100m worth at that price.
Oil, HBR obviously can’t buy all the buyback shares at the very bottom, just as no private investor can either. So you’re talking nonsense I’m afraid.
Overall HBR believe the shares they are buying back represent good value for the company. Anything sun £5 and I agree with them - does that mean it can’t get cheaper? Of course not, but the focus is value which will be reflected longer term.
Buybacks are reducing the number of shares in issue so that will have an impact on share price eventually. I’m happy to see HBR picking up millions of shares at these prices - they have the buying power that I don’t, and if you believe it’s good value now then it’s money well spent for the company.
Oil may not have averaged over $90 for long before but inflation means it’s more expensive to produce and supply is tight even as the world enters a major recession.
In the meantime gas prices will go higher all this winter and next at the very least.
The Nordstream explosion tells you all you need to know about Russian gas to Europe over the next few years.
Interesting. Selling Zama might be a good option.
Crude : -3.7MM
Gasoline : +3.1MM
Distillate : +1.7MM
Cushing : -0.9MM
Crude ex-SPR : -5.3MM
SPR : 1.6MM drawdown
Concern over demand for gasoline having an effect I think, but overall it’s a neutral if not slightly bullish week.
Crude draw but gasoline and distillates build.