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Hits that isn’t quite true. Angus will receive the amount of money per the hedge. It is liable for thereafter. Thus if gas fell below the level of the hedge it would simply buy the gas on the open market and be in profit and vice Versa if it fails to produce. The latter is the issue now with gas substantially above the hedge value and it being on the hook to produce the gas.
Tygra , that is because there are more shares and we remain blighted by lack of gas. We will all see whether this is additive when /if the gas flows , how much and when/if the side track happens. The gas price is also a major factor. There are circumstances where this would be very additive and very negative. I cross my fingers for high gas prices , excellent gas flow and a successful sidetrack. Each to their own .Good luck
I had a client who worked her entire career in the civil service. She went to Brussells for the last 5 years of her career. She transferred her pension benefits. Then she got a big payrise (so all the years of service counted at the higher salary). When she retired and moved back to the Uk her civil service pension was taxed at 5% (from memory). Post Brexit she is taxed at normal UK rates and is devastated. This is the story no one tells us. Euro land was a Civil service gravy train and the fat cats can't wait to get back in.
Boris is hated by the senior civil service. He stopped their Euro gravy train and they have an agenda to return to Euro and that means get him out. Who do you think are taking the pictures and leaking the stories to the media? No10 is an office block full of civil servants why didn't the office manager warn him? The staedy drip of negativity is being very cleverly orchastrated. I am no fan of BJ but can see exactly what is happening.
I read all the positives here and excellent posters like Tilburn and then I look at the SP. I have a rule not to invest more than 2% in a share and thank goodness. My last top up was circa 20p. I thought I was getting a steal of a deal with that final tranche and here we are at 15.5p and falling daily. This continues to make no sense . I sit and watch hopefully but am extremely puzzled. GLA
Well Bum, actually sp is up today so you got that wrong. The next bit in your post is wrong too. This is not an oil price tracker . However, in 2020 when oil traded negatively and was under $20 the sp hit 7p. As oil has gone up and hopes of debt repayment etc have risen so has the sp. However, not in a straight line. Sentiment plays a large part. I started buying at 7 (by luck) and have a BE of circa 25p. I am very happy because for me the trend is up. The sp and oil price are correlated but don’t track each other.
There is nothing quite like reading the annual accounts when this board is so full of negativity. Forecasts based on $75 for the rest of the year. Actual is considerably higher! I think I will ignore the carp here and hold my investment. GLA
Howey, check out the increase in the price of commodities and how they escalated as war approached. Without that we would be lucky to be at 0.5p. The upside here is 90% driven by the hope of selling the balance from the sidetrack in excess of the hedge at between 150 and 300 per therm. At 50 it is much less appealing and without the sidetrack…The sp reflects the fact that there is still no gas long after when George promised .
Asher with all due respect you could have said that at many points in this journey. Saltfleetby was sold to us as a saviour but based on very different timescales and budgets. If you rely solely on pure luck with your investments you may as well go to a casino. Personally I prefer research. I am happy to accept the luck and escape with a profit but ….GLA
Asher - lucky you. You arrived late at the party and are in profit. However, do some research and look at GL’s track record. How he sold Saltfleetby to us. The initial due diligence. The devastation of the sp. The massive mistakes in budgeting, the delays. The mismanagement. Many here have every right to be extremely annoyed. Were it not for the war in Ukraine the company would be bust. Lucky Lucan but pure dumb luck . I expect to escape in profit but solely due to the massive increase in gas prices .
HITS does not talk drivel. The bit I don't understand is the constant repetition. Any well researched investor knows these numbers. It is all about the gas - how much, when and thereafter the sidetrack. It is also about the gas price (which may rise or fall Ukraine war dependent). Depending on your view buy, hold or sell. In the meantime GL continues to prove that the management team are incompetent. Delays, cost over runs only rescued by the ukraine war pushing up gas prices. George if you are reading you are a total wombat (waste of money brains and time). If you worked for mre I would have fired you for gross incompetence. Thank god for gas prices.
GL said we would see 1st gas within hours of 1st June. Then circa 27th June and we now we have a new RNS. More delays and the comment about production volumes worthless without flow to test. It is all about the gas. We still don’t have any just another delay. The sp has gone down again as a result. Our management team are worse than useless . Had gas not gone up massively since our due diligence we would now be bust. Pure dumb luck which I will happily take but management are woeful.
It all seems very strange , big price movements yet volume is low with circa 2.5% of the shares traded. Normally when people “know” you see volume. I never hold more than 2% of my portfolio in any 1 share so I can afford to be fairly chilled unlike others who are balls deep. I must admit to be baffled as to the share action. GLA
Interesting posts today. The sp reflects one thing…it’s all about the gas. Today there is no gas. If you believe in gas in June and sidetrack by October hold/invest. If not sell/avoid. This remains binary with people unwilling to place further stakes. So basically George it is time to deliver. ??