Member Info for pauldrayton

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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.

Too much ramping nonsense - I just want to hear from the company.

OPEC probably likely to cut again in December now with that Russia news.

Plus an SPR draw of 1.6MM.

Oil unchanged - see what EIA says tomorrow.

I think that’s about right LTT!

As far as I understand it, the new tribunal cannot just dismiss the request for annulment. They have to go through due process, which is why it takes so long.

What they can do is make an early decision to refuse to extend the stay of enforcement, so Rockhopper could theoretically enforce payment whilst the proceedings are ongoing.

Whether that’s likely or not I have no idea. I suspect we will hear from Rockhopper soon with regards to their response and any funding agreement they are proceeding with.

Hopefully more likely to see £4 than £3 again this year.

Sorry Stas, just seen your message. It was the Wall Street Journal, although the Saudis have denied it now so oil prices bouncing back.

And oil goes blue!

OPEC are more likely to cut than increase production in December. At the end of the day most can’t meet their quota anyway and the Saudis won’t want oil prices dropping any further. If they were considering an increase then today’s action would have put them off completely.

And oil jumps as Saudi denies the rumours

And OPEC announce a production increase is being considered!