I’m with you. I would rather talk about CEG, but until more information becomes available there is not much more to say. I am happy to leave them to their argy bargy in the meantime. It is also becoming difficult to get sceptical posts to stick - they mostly seem to self-destruct in Mission Impossible style.
I expect that the FY 2020 results will not appear this side of the S2 result, which is probably for the best, but I do sometimes wonder if the BoD are missing a trick by not giving a current production update to steady the ship (as best you can steady H.M.S. CEG). My working assumption is that this is around 450bopd, which will be worth more than it used to be with WTI close to $70.
It’s really the Stockholm Syndrome point. I agree that it doesn’t affect the company’s performance or the SP, it’s more about how this attitude affects such individuals’ buying and selling decisions to their disadvantage.
Just a thought, but are the posters who are most consistently wrong about companies like CEG not in fact the posters who most consistently refer to key figures by their first names (“Neil”, “Leo”, “Simon”, “Eytan”)?
This use of first names is arguably emblematic of an uncritical (and therefore unprofitable) attitude to such individuals. They are not your friends.
RE: Key ROI facts and the Circus tour30 May 2021 12:56
Asking how $85m gross becomes £25m net is a serious question. Past experience tells us that we need to figure stuff out for ourselves as best we can with information we can rely on rather than taking everything the BoD says as read. Yes, the BoD know more about this than we do but people have lost money watching this BoD err on the aspirational side again and again and again.
Did you even know about the reduction in the T&T loss relief rate from the usual 100% of taxable profit to 75% before I highlighted it this morning?
RE: Key ROI facts and the Circus tour30 May 2021 09:15
“$85m in tax credits”
Remember though that such tax credits have not been fully utilisable since the PPT relief reduction in the 2019 T&T Budget (from 100% to 75%) came into force. If you are going to paint a picture for your readers, paint the whole picture.
Doubled up this morning, same price as yesterday. Goes against the grain but there does seem to be an easy 10%+ to be made on the back of the ramping and exaggeration we will inevitably see as Saffron 2 progresses towards TD (newbies beware). I can only hope that CEG’s financial position remains unclarified, at least until I’m out.
That said, I remain confident that this will be 3p+ by the weekend.