Member Info for rylidan

Certainly a lot better than the last month. Maybe they stepped up their buys when the share price was lower, leaving lower funds for the rest of the buy back period?

Oil price fallen back a bit, but healthy at $84 ish. Looking forward to update next week.

Looks like some profit taking to me. Bid moved up almost 2% today. Also looks like a large buyer too. Still low volume though.

The raft of director buys at around £1 are a good indication this is oversold. I started buying at around 103p, and have build most of my position slowly over the last month.

Anyone know when the next NAV update is? Just building a position here at a great entry point.

I'd be happy if any top ups over the Base dividend were diverted into buy backs. As long as they don't simply buy back regardless of share price.

There are times when buy backs are very good value, and times when they are poor value.

I do get the 45% tax issue. However, as mine are in SIPP and ISAs I only lose the 15% tax against the buy back option to return capital.

Buy backs are not my real issue, I like them. I also like the company retaining cash in this volatile financial environment as they face a few risks that could need short term contingency funds. Suggesting they should reduce their contingency funds is not sensible IMO.

I tend to disagree with you GGG. This would be around 4p ps capital return. Far better to have contingency against the risks that exist, and to underwrite the 1.5c base dividend regardless.

I use this as part of my pension and a stable return of 10% minimum is important.

If they could get an RCF at less than 3% I may see your view. In the current financial climate that is unlikely.

The new Finance Director may of course not be as conservative as the current one.

We'll see.

Either was looking I'm very happy holding here. It's an easy hold and build for me.

Do you mean production or shipments? Anyway expecting the work to be flexed around barge movements as there are naturally periods of lower activity with a relatively long round trip.

Brent almost touching $90. Will be interesting where it closes tonight.

GLA

US crude stockpiles fell by 6.37 million barrels last week, defying expectations for a 1.6 million barrel build. Hence Brent is back over $89 again.

I tend to believe that they are targeting growth with some acquisitions.

Time will tell

The level of buy backs since the programme started is OK, but if you factor in the final batch of warrants and the PSUs, we now still have more shares in issue than at the start!

On the plus side the weakening pound against the dollar will increase dividend payments.

Would be nice to establish a 2c base dividend per quarter, and then put the rest into buy backs, if they are allowed by TSX. Perhaps with a policy to review the dividend annually, and hopefully start an incremental dividend policy as well. Last year (4 quarterly dividends) was 8c in total.

GLA

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.

I agree. Reckon around 49p will now be forming as a long term support level. Should see 55p by the time the next dividend is paid in June IMO.

Onwards!

GLA

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.

Have also been topping up. Less than 42p is an absolute bargain IMO at over 8% yield. Only have 50% of what I'd like, but I'm patient. You never know how gready shorters can get.

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

I also added this morning to my long term pension holding. Looks like an all time low. Reckon incredible value here.

It should also be noted that Q1 averaged around $82 Brent, where Q2 average is currently considerably higher.

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.