Member Info for Rookie1

I use IG mo, It’s probably one of the more expensive ones ( I haven’t had a look about) but I like the simplicity. I will be opening one on Barcs after I post this.

The more shares bought back The bigger the divi becomes for us all. Happy for them to keep buying ourselves for the foreseeable future, Not interested in any M&A when we have some great fields to develop.

I like where we are heading with CCS because I believe that will be a big money soon. Great time for us to reset and realign the company to provide oil and gas and keep the green whoppers happy.

Well I’m Back in with 15k shares. I can’t see results disappointing

Only just having chance to read through results thoroughly and it really is quite an incredible read.

The zero cost collar has my mind pickled a little bit though, as I understand it the ‘pit’ and ‘call’ are just long and short positions that are taken out at x prices to create a base and a ceiling which anything in that Chanel at maturity date cancels itself out and ensures a desired price? What happens if the price closes outside of the channel? I presume it starts eating into the profits and this is where the risk comes in?

Has anyone a link for the Q&A from results day?

I didn’t know that vladnaz, what volumes have been ‘hedged’ so to speak?

But to be expected when the ftse has taken a hammering this week

Maybe controversial but I actually think some hedging up at these levels locked in for another 12 months would be a good move. As our bad hedges unwind they will replace the free float production without the risk of getting caught out with out pants down in a recession and no one willing to take the other side of a hedge at a fraction of today’s prices? Thoughts?

I feel you wildstag. It’s infuriating

Will wait for a retest of 167 ish to open again

SQZ is looking like a buy now, results due soon they must be impressive and sat in 50% of mcap in cash

Totally agree, maverick. Nice to see someone actually aware of what’s going on. Artificially inflated prices that don’t reflect supply and demand but make sure to induce another “crisis” we’re the government steps in to ‘save the day’.
The only crisis was the lockdowns that wernt needed but hey let’s blame Russia for it all.

New, you said yourself the other day how you wonder how much of the price is set by supply and demand and not traders/algorithms. Your right, it’s very little, if you can exaggerate media story’s you can manipulate the pricing of the market, you can also manipulate the minds of the mass’s to blame Russia and oil company’s for ‘profiteering’. The media is the most powerful weapon on the plant, as we saw during covid.

So did we just not feel the effects last time because off EIGoffloading?

Will this really help?

Grabbed 10k before close of play.
Nice to see buy backs back in action here, they supported the share price well before results so hopefully will do the same from here and give us that leg up and over £5 that we need

Thanks for that nightpusher

Hadn’t checked the oil price until now, what spooked it?

Exactly,proctor. And the fact the FTSE is going to be in for a rough ride soon I see it as a blessing in disguise.

The first time we tested £5 we fell back to this level before marching back on up to £5.38, let’s hope we follow the same pattern this time. A fall back any lower when we have around a Billion less debt since then, less shares since then, and dividend imminent would not make any sense. Then again when does harbour ever make any sense.

Further, Harbour said it achieved realised, post-hedging oil and UK gas prices of USD82 per barrel in the half, up from USD58 a year before, and 69p per therm, up from 38p.

Crude oil sales amounted to USD1.54 billion, up from USD897 million last year.

So those results we just received were based on less than 200p per therm post hedging and now we sit at double that?
We could be debt free even before the year end if these prices remain? Saying that I don’t mind if they do soften a bit, I’d rather see gas at £2-2.50 per therm and delay the inevitable pull back than stay up at these levels and crash the lot.