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Finally on the move up
Because they were subject to relentless selling by sandgrove and bank of america, as well as paying down debt. The share price is beginning to recover now that it appears those two sellers are gone and the debt will be gone in about two to three months also.
when they were IGAS, they had a low of about 10p a share when covid lockdowns arrived in 2020 and hit over 110p a share when the shale ban was lifted. IGAS was about 15p a share when the name change took place, if I recall.
as the above has dragged on for so long, the market has largely ignored them. The company is in better shape than it has ever been and by rights, a reversion to at least 20p a share should be on the cards as it is an undemanding target and is a good support level.
Nice to see a steady stream of buying again today.
Big sellers finally gone
It has shoved star up to 2nd highest riser of the day
Solid move today
Should also be noted that they want to transition to a geothermal company - which means they will sell the entire O and G porTfolio, once they have it all tidied up - it is worth multiples of the current SP
Traders Are Buying Oil At The Fastest Rate Since 2020
By Irina Slav - Mar 26, 2024, 6:00 PM CDT
https://oilprice.com/Energy/Crude-Oil/Traders-Are-Buying-Oil-At-The-Fastest-Rate-Since-2020.html
According to the Reuters numbers, in the week ending March 19, traders bought the equivalent of 140 million barrels across the six most traded crude and fuel contracts.
Good point
Even at 20p a share its a paltry £22 million mcap
Defo looks like Sandgrove and Bank of america are done selling
And....
Ring fence tax losses of £259 million
As at interim accounts...
assets given a value of...
1P NPV10 of $144 million(2021: $139 million): 2P NPV10 of $215 million (2021: $190 million
6th April onwards
from the australian government hansard..committee meeting 14th march 2024..
https://www.aph.gov.au/parliamentary_business/hansard/hansard_display?bid=committees/commsen/27720/&sid=0003
economics legislation committee - 14/03/2024 - offshore petroleum and greenhouse gas storage legislation amendment (safety and other measures) bill 2024
questioner :
cox, sen dorinda;po****, sen david
answer :
chair;dr howard;mr duncalfe;mr williams;mr murphy
excerpt
we've got the montara venture as one other example. that was launched in 1989. i'm not sure of the date it was converted, but it was converted to an fpso. there have been multiple directions, prohibition notices and improvement notices from nopsema and currently out there i know firsthand that they are welding in place steel plates in the tanks because of the integrity of those oil tanks. it is an ongoing battle to try and keep the integrity of the whole in place.
the pyrenees venture is another fpso, built in 2004, and it's just had to proceed to singapore early, for a dry docking, because it got a leak in one of its oil tanks. so, again, the integrity of the vessel is in question, and it has had to cut and run for singapore for much-needed and urgent repairs.
Https://drillordrop.com/2024/03/04/uk-onshore-oil-and-gas-production-in-charts-december-2023/
star still producing 17% of all the UK onshore oil - 2nd highest producer
star still producing 5% of all the uk onshore gas - 3rd highest producer
Https://docs.google.com/spreadsheets/d/1SdQ0pXhW2KJ_PJoiJ3w97tzVz1fGcupAU9bfpTJkOHw/edit#gid=2006377867
shows the NAV at price points all the way up to $180lb
Https://standardbredcanada.ca/news/3-25-24/give-me-dance-named-california-horse-year.html
Published: March 25, 2024 01:50 pm EDT
Perez talked about such items as an increased new horse incentive for the future 2024-2025 Cal Expo meet, the solid horsemen’s agreement and contract with Watch And Wager through to 2030, along with remembering horsepeople and horses who had passed away in the past year.
Chris Schick, general manager for Watch And Wager, spoke about the current successful meet at Cal Expo and the promising future for Cal Expo horsepeople.
Cawkewell talks about webis in podcast dated march 18 2024 ..
https://www.youtube.com/watch?v=XZe9phFC05o
starts at 33 mins
he reckons losses coming to an end and has terrific opportunity. He extols the virtue of monarch agreement and the exposure to the big race courses. Says webis has a tremendous range of contacts built up over time. Thinks webis could be a huge beneficiary of the drive towards legalised sports betting in the US.
Simon cawkewell on webis 1st march 2024...
https://masterinvestor.co.uk/evil-diaries/evil-diaries-online-betting-and-the-web-of-influence/
Webis (WEB) controlled in voting terms by the chairman and whose father, Sir James Mellon, was on the board but died perhaps six months ago, reported a few days ago. These figures are pretty bleak but, intriguingly, Denham Eke, now de facto non-executive head honcho, remarked en passant that WEB expects an approach from somebody to get a toehold in American horserace betting. That seems quite reasonable to me. WEB is tiny – capitalised at about £5m which is just a few chocolate cakes from Tesco. Therefore punters are advised to sit tight although, obviously, not to bet when tight. Toe-dipping at 1.2p seems perfectly sensible.