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We seem very price sensitive to changes in the oil price. Too much IMO. Anyway, oil price jumped again and looks like an escalation in the ME. Was rather hoping someone may see sense and try to calm things. Seems unlikely now.
GLA
This was mentioned on another bulletin board a short while ago. I investigated, liked the finances, and the business but not the big seller. Its a nice bit of diversity for me. So waited patiently until it looked like they were almost finished and bought a few times around 65p. Very lucky. Didn't buy enough, so topped up early 70s and recently in high 70s. Average around 71p so very happy.
See this as a long term dividend hold for me. Would gladly top up again if given the chance at my average (can't see it though!).
GLA
Looks like the most likely date for the next update is next Thursday, the 25th. Should be interesting.
All profits get reinvested. Nothing for shareholders. It's the way with this company. Trouble is they don't do a great job given that every RNS says what a great time they are having.
Seems to be one step forward one step back all the time.
About 5% up on my first investment, many years ago.
Watch out for the bear trap....
Well see
I'll be happy to be able to exit the remainder of my holding at 54p without having to average down.... again
GLA
Agreed these are excellent results.
Cash end last quarter $90m plus $2. net receivable in 50 days
Cash end this quarter $63m plus $38m net receivable in 50 days.
I think they are not trying to grow Cash, but return as much as possible while investing in growth and the local environment.
By my reckoning a 2.5c dividend declaration in May most likely now.
Still a lot wanting to exit is my guess. I bought for a dividend stream NOT a sell off, maybe for a profit. I find it very suspicious some funds voted against and their motive. I reckon they expect to use their weight to stuff the average PI.
So expecting this to go lower, until it becomes an outrageous buy, which is when some funds will load up.
Take your guess where that price is. I've already stated my view. I'm close to starting to buy more, but not there yet.
Agree that more buy backs would be good, if they are allowed by TSX. Think they have struggled getting much recently without impacting liquidity.
Also I'm happy with the share price as it is because I'm still hoping to buy more (cash permitting) before this establishes a range over 50p. The update in a few weeks maybe the catalyst.
I'm sure they will use asset life when calculating NAV (built into revenue curves). Doubling capacity this year. Great 12%+ yield right now, and they just confirmed the dividend policy as 7% of NAV.
So topped up this morning. Seems well oversold on sector woes.
Been range bound from 42p to 45p for quite a while. Drops below very occasionally and goes above occasionally. Been trading a bit for the past year on top of a core holding, but this is looking very much like it could try a breakout!
I keep waiting for the fall back, but it's just going back up! Volume so low, and every buy seems to push the price up. Still looks very undervalued IMO. Looking forward to the next update.
Thinking about the next dividend announcement, perhaps in around 3 weeks time (25 April last year).
Assuming 1.5c covered at $77 Brent, and average in Q1 was $83. Gives surplus over budget of $6 *18k (bopd average)*90 days = $9,720k over budget, or a tad over 1c per share. So in my view 2.5c would be my guess for next month. However if Brent stays at current level for next 3 weeks that is trending for 2c per share above budget for Q2, and production may also beat forecast, so maybe a bumper 3.5c possible in q3.
A 2.5c dividend in Q1, gives a rolling 1 year return of 9c, which equates to approx 16% yield at exchange rate of 1.25 and shareprice of 45p.
A bumper dividend in Q2 would increase rolling yield further.
Happy days!