Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Joed,
I agree it is not showing in the prices at the moment, but bear in kind traders are probably anticipating a year like 2016 where gas prices hit a near 20 year low. My point is that expectation may be misplaced and prices might fall nowhere near as much as traders are currently anticipating.
I think at a macro level there is a market movement that is different that the market has not factored in. The best example of this is the case between Venture Global and Shell/BP/Repsol
https://www.reuters.com/business/energy/bp-edison-shell-ask-us-eu-intervene-venture-global-lng-dispute-2023-11-11/
Basics of the case aside it shows that the O&G giants are short enough of supply to have to consider legal action against a US exporter for not fulfilling their contract. It also shows Venture Global either having a preferable home market or being unable to export at the rate required, or both. It also shows huge demand either way for export of US LNG , the quote 'Shell accused Venture Global LNG of diverting resources into building a second LNG export plant rather than completing repairs to its first plant' is absolutely telling. Venture Global can't build infrastructure fast enough to cope with demand.
I've been harping on about El Nino and winter weather. US LNG prices and markets are hugely influenced by weather forecasting in a way that's incomprehensible if you are not part of that system. El Nino literally makes gas traders Sh*t Bricks. Do your own research on it, but the article below has a general tone.
https://about.bnef.com/blog/el-nino-foreshadows-new-challenges-to-global-gas-market/
This one shows it is not just me...
https://seekingalpha.com/article/4640435-predicting-different-flavors-of-el-nino-for-natural-gas-market
Reconciling massive export demand vs El Nino year weather shows a major LNG market shift that has not existed before. In previous El Nino years the LNG market has been massively disrupted, either through Panama Canal flow being restricted or lower than normal US domestic demand. This year there is an easy to access export route to Europe, contracts for spare capacity will be taken up by Europe.
Longer term is where it could get really interesting. Reverse the Venture Global case. Once their export infrastructure is built, and VG is able to sell to Europe at premium prices, domestic supply at lower prices will become restricted. Prices in the out years will rise significantly due to more constrained US supply.
Needless to say this all affects DEC hedging strategy and future income.
It's because a mild winter is forecast in the US due to the strong El Nino. Last time there was a strong El Nino in 2015 it wiped out large parts of the US LNG and fracking industry.
DEC is more than 85% hedged for 2024 already and likely has deals into 2025 now. They themselves have said prices rise into 2025
Strictly speaking, the dividend as announced will be paid for every share on the register at the ex date, ie the 30th November. The calculation of payment will be for that date on the number of shares then not the newly consolidated shares. The next dividend will take account of the consolidation at the next ex date, 29th Feb I think.
Grey George - have you thought about seeing the doctor for some anti depressants? I bet you're a riot on a night out. Have you ever considered basing posts on facts or even just information rather than just your warped opinion?
There was a 21m share transaction last week that didn't budge the price, I suspect it was a house broker negotiated purchase to support the ADRs. No need for additional free float, no dilution occurring. It will be interesting to see what happens on opening, whether index trackers and funds buy in and push the price up, or UK funds do the opposite
Https://www.sec.gov/Archives/edgar/data/1922446/000110465923118868/0001104659-23-118868-index.htm
The registration filing, showing status as accepted.
Bringing this thread back up for the hard of researching.
Try using thread view.
The company put listing on the US NYSE market to shareholders who approved the move. To list on the NYSE the share price has to be higher, so the company has decided to consolidate the shares. The consolidation means there is 1 new share per 20 old shares. That happened this morning, although it takes brokers a few days to catch up with the position during which time the shares are restricted meaning you can't sell your old numbers of shares for the new prices. In a few days time you will see the new number of shares you hold appear in your broker account. The shares which do not readily divide by 20 will be paid in cash, so if you held 1009 shares you would receive 50 new shares plus the equivalent of the value of 9 shares in cash paid into your broker account.
Dividends will be multiplied in the same ratio, so the dividend per share now will be the same as dividends per 20 shares previously.
The NYSE listing starts on 11th December and is a dual listing, so trades in one market will be arbitraged through currency fluctuations across both exchanges. Transactions in NY will influence the price in London , and vice versa. If you look back in my posts here I posted a link explaining the process about a week ago.
The idea is that due to London's ongoing money outflow issues and lack of interest in O&G market shares DEC will receive more investor interest and attract a better price in the US. In the long term it is likely that the US listing will become the primary listing.
*Why instead of 'my' in that penultimate sentence.
Conspiracies normally, but what on earth is going on with ALBA trades? Most days there are a handful of trades, often more posts on the BB than in the market.
Today the trades are just weird. 49 total trades, 5 posted this morning at exactly the same time 08:16:35 , but also at the highest and lowest prices of the day. Then a 400k UT at 9am... WTF was that? Why a UT at 9am? Then a normal-ish day up until 3pm when suddenly in just over an hour there are 40 or so trades including several £1 trades.
Is this share part of some fantasy share price game that has spilled over into reality? This can't be a report of open market trades as if it is it makes no sense at all. My buy and sell at levels a 12 year old's pocket money would embarrass?
Anyone?
US listing starts 11th December. Read all the RNS items, its in there. You should have received a corporate action to vote on it, EGM yesterday to approve the vote.
Consolidation 20:1 today.
Not that it helps much but including the three dividends you have/will receive for holding in that time you will be about 30% down.
Being 30% down means you need a 50% rise to recover though, so really need to break 1950 or so to break even when including dividends. Should be possible.
The way things have been going it will be a 1950% rise in the morning.
Can't help but feel this is being manipulated down to create a bounce on US listing, hoping to suck in some momentum trades. Nothing in the public domain that could drive the price to here.
There are a lot of people slating Vodafone, but any company that can generate more than £3Bn FCF must have something going for it.
So is the drop in VOD price due to the company performance or due to major cash outflow from the a London exchanges? Several companies are using outflow as a reason for their poor share price performance this last 12 months. Some are taking action and either dual listing or looking at changing listing location.
The reasons behind the outflow are not clear, but possible candidates include overall higher tax burdens, Brexit and trading barriers, overall state of UK economy, inevitable Labour next election win, dire Tory mismanagement of the economy, or just that there are better prospects elsewhere than in the exchanges of our sometimes tawdry little island. Whatever the reason the babies are going out with the bathwater with PEs in lownsingle figures, double digit yields and ROCE promises in the 20s and above.
The outflow of cash on the London exchanges is significant enough to have gathered a momentum of its own. A few lifeboat companies are still doing OK, UK money has to go somewhere, but those with any questions over debt, earnings, market position or just general mood music are being punished.
Would VOD be rated higher if it was listed in NY, on the NASDAQ or elsewhere?
I've bought just a few more to round off too. That's it now though, I have more than enough eggs in this basket.
Have you worked out the total bought back so far then?
Are you missing the weekly RNS with data on this week's buy backs?
Press the RNS button above. The company is buying and cancelling 0.1% of the company shares a week on average. That's faster than BP or Shell.
Last one 27th November
Diversified Energy Company PLC (LSE:DEC) announces that, in accordance with the terms of its share buyback programme announced on 27 June 2023, the Company has purchased 1,120,000 ordinary shares of 1 pence each in the capital of the Company (the "Shares") in the market at a volume weighted average price of 71.49 pence per Share...
Expect the next RNS about BB on Monday the 4th.
It's not analysis. It's auto generated meaningless text produced by bots, read and repeated by morons.
Tickets and booing...
What on earth are you on about. The CEO doesn't manage the share price, the wholly irrational market does that. The CEO manages business performance which in the last figures was just fine. A company can continue to generate profit and pay dividends as long as its products and services are in demand. Natural gas is going to be around for a while yet.