Member Info for Property1

I hope not - unless at bargain basement territory. Capital better off deployed elsewhere to avoid the EPL (and a place where new licenses would be allowed),

MGB Google AI does a lot of misquotes, type in a challenge query against an initial response eg say it’s wrong, and it’ll come up with a completely different answer

Market cap off LSEG shows it closed in 87th place

Yes. Should be around 87th rank by my analysis, but not yet checked LSEG

The longer the SPR drawdown goes, the longer it’ll take to refill (at some point), so oil could stay elevated for the next few years as even when the SoH opens, it won’t be quick to sort out all the problems eg ship travel time, maintenance, if it opens will ships want to return quickly? Plus refill time frame…

Iran looks like it’s withdrawn from negotiation after US bombing and Israel in Lebannon.

From what I’ve read, it’s only the two existing licences/ sites (Rosebank and Jackdaw) up for consideration and not a review of the full North Sea, so no real impact (yet) for Hbr…

US just denounced Iran MoU as a complete fabrication. IMO think there is a long way to go for a deal… just need to ride the media wave.

Agreed Sell. Cant see a deal holding up. Cant see DJT paying reparations either

Apparently this is “one” of the recent draft MoU to end the war. Given the drop in Brent price, this seems overly optimistic that a deal would be made imo (especially if it includes war in Lebanon). DJT really messed up and with a 30 day reopening time frame, oil price should hold (if not go back up imo). I’d be flabbergasted if the US/ Israel agree to this deal

“Memorandum of Understanding” between Iran and the United States

Details of the current Peace Deal, per an Iranian MP:

1. Declaration of the end of the war throughout the Middle East

2. Respect for each other’s sovereignty and territorial integrity

3. Negotiation a Final deal within 60 days, the deadline of which may be extended by mutual agreement of the parties

4. Lifting of the naval blockade within 30 days and withdrawal of American troops from vicinity of Iran

5. Opening of the Strait of Hormuz by Iran within 30 days

6. A pledge of a $300 billion reconstruction program for Iran upon the signing of the Final Deal

7. Removal of primary and secondary sanctions on Iran according to a schedule, if a Final Deal is reached

8. Freezing of Iran’s nuclear program in exchange for the United States not tightening sanctions during negotiations

9. Temporary lifting of sanctions on Iranian oil and petrochemicals

10. The United States will gradually release frozen Iranian assets if negotiations make progress

Ships being hit in the ME yesterday, no clear deal to open SoH and oil trading like there’s no SPR to refill 🤷🏼‍♂️ even when the SoH reopens fully. Restarting wells may see a drag on production … and read an interesting article recently noting, that barnacle growth on anchored ships is starting to impact hulls and intakes, so some ships may need to head to docks for maintenance. Seems like a perfect storm for a bounce in SP … but price falling based on DJT et al social media posts. Either I’m getting too old (and only mid 40s), but the market seems to be trading on whims, rather than fundamentals?

Any thoughts?

I can see a drop on open but if it goes below £2.70, I’ll be sat waiting

I’m not convinced a deal is pending. It’s a framework for a deal but Iran still wants, to keep nuclear fuel, reparations for war damage and release of frozen funds (which Trump can’t do unilaterally)🤷🏼‍♂️

Interesting Barclays note on Brent price for 2026 $100 barrel

https://x.com/piqnewswire/status/2057710992109572172?s=46&t=faeNMQhbdNKsrP0bDsF_dQ

I think that’s right - but not looked at it fully. Ithaca got hit worse as I think that does trade through subsidiaries

Centcom notes 89 ships redirected 🤷🏼‍♂️ but that’s a recent “total” as well

Trump noise playing the mkt again. There is no easy off ramp and if SoH remains closed, oil price will be rocketing in June/ July

Kab/ Corry. Great feedback. Hadn’t been through the list in full so good spot that some companies are not applicable! 👍🏻

Kab/ Sek thanks for the links. I’ve found this site as a useful tracker.

https://companiesmarketcap.com/gbp/united-kingdom/largest-companies-in-the-uk-by-market-cap/

Think the first date is on the 22nd May then another indicative date of the 26th for review before Final Cut off date on the 2nd June.

🤞it holds around the £3mark till June

Hi Sek… Interested to know where/ how you have HBR ranked at 82? Couple of places I’ve looked, looks to be around 87 at the moment? Still in top 90 which is great, but closer to the limit than your estimate?

Cheers