Europa are delighted to link with I3E and look forward to early September Serenity appraisal spud. Watch the full video here.
Great to see the management putting standards of safety, environment and equipment integrity at the highest level alongside managing staff welfare. Fundamental reason, amongst others, as to why I bought into this share. They buy up older fields so the care they give to managing ageing assets, equipment etc. is a primary duty to preserve the reputation of the company and confidence of investors and any joint venture partners. The short term loss of production is the cost of doing business that could be a lot worse if not approached in the right way. If folk decide to sell and the sp reduces then any buy back of shares only benefits long term holders. Win win.
Yes I have topped up at 111.4p. Time will tell if it was wise or not ! If the new financial controls now in place are enabling better oversight of the company performance, and this rns is perhaps a consequence of that, then it seems logical to anticipate the substantial late year weighted performance can also be ‘seen’ too. Putting the brakes on some of the growth to get a better grip of things can only be a positive in my view. But that is just my view.
The heat has clearly gotten to SS and his team. We can all feast on pie in the sky and wash it down with water that he will surely change into wine. The Rns highlights how not to run a penniless company. Trying to achieve everything and more, achieves absolutely nothing. I’m fed up with this nonsense. Can we just do one job, just one, to completion please!
These village idiots must have very boring lives. Don’t they know that there is plenty of tennis to watch on tele? Seems like they coordinated their action to intrude on any available O and G AGM today. They can complain all they like about being ‘assaulted’ when being removed from a meeting where they are causing a disturbance. It seems it was their choice to disrupt so they are responsible for the consequences. No time for them what so ever. Now, back to centre court!
From the Northern Echo today. The above company putting in plans for a port site in Sunderland to recycle plastic on a 12 acre plot. Converts plastic into a substitute for fossil oil. Plant intended to process 100,000 tonnes of low plastic annually. The product can be used to make high grade plastics. Gas produced from the process will be used to power the plant which they plan to have operating in 2024. The parent company is based in Norway. The competition for plastic waste is hotting up. PHE needs to get a move on! Can someone nudge the PHE / Peel management.
One thing that really attracted me to this company was that when they take over assets they look at and address potential issues from the word go. Their approach resonated with me. The fact that there has been a leak is disappointing but if I have judged the character of the management correctly they, more than anyone else, will be very disappointed at this incident. They reacted quickly it would seem and that augers well for the standard of response that one would expect. I trust they will review all their actions and any other related potential issues around their maintenance programs. Things can and do go wrong in life and there is not a business that does not have to resolve them. It is how they respond for me that matters. Transparency is import. I don't want the market, investors or management to forget about this incident but rather to have confidence in the positive response and use the learning gained to benefit future operations and performance. This is not remotely on a large scale such as the horrendous Piper Alpha accident years ago but the latter taught all in the Oil and Gas industry (yes, my industry for over 22 years) of the need for continuous improvement following any incident or event. I am sure this case is no different. As an investor I see this as a buying opportunity so will scratch around for a few spare pennies to add to my holding if I can. I wish all at Jadestone well as they move forward.
Followed this company for several years until putting a toe in the water in late 2020. Looking forward to the news flow over the coming months here. This could provide insight of the growing cash flow potential of graphene products that to date has been purely a long-term aspiration. Took advantage of the recent pull back in sp to average down successfully and had hoped to add further. The recent turnaround beat me to it. I would love to attend a factory demonstration and have a chance to chat first hand about the future prospects of the various potential product streams but to date mobility issues have prevented this. One day!
Sharehead I agree with your comments. I noted the 93% renewals rate too. Capita must be doing something right for that to happen. From my research of the sector there seems to be plenty of work to bid for. Hopefully Capita will be selective as to the work they take on. I feel the type of contract involved here will be beneficial in terms of having some inflation protection - a significant factor in the current climate. The hard miles are, in my view, done now and the company is consolidating and building from a new base. For me a genuine recovery play - others may have another view.
Just floating in the wind with no clear laid out progression plan with target dates etc. Maybe they don’t want to be tied down to a program they can’t adhere to but surely they could give some sort of / more guidance. Romania seems to be going nowhere so why are we keeping it? The cash balance won’t last too long and presumably will require topping up? Or is it hoped a sale of the Victory asset will be the source of liquidity? If so, when?
Redundancy will depend on the design of the plant affected with these liquid flows. if the issue is in a shared section (common header) of piping with no satisfactory isolation then shutting down may be the quickest and safest way to get the job done. I doubt there is a problem with liquid storage - as I understood it is gas storage that is the problem but I doubt that is the factor driving decisions here. I hear your frustration Moleinahole, me too! However, we just want cool, calm, thoughtful heads to solve the issues as they come along. Engineering and production plant problems can be solved with care and awareness. I would hate to see our investment be wrecked by ignoring issues and not addressing them. I am sticking with this.Perhaps this type of investment isn't for everyone.
Not uncommon to have to debottleneck aspects of process plant. The GOR (gas/ oil ratio) must be reasonably high and , although it was expected the reception facilities may not have been designed in previous use for the flow rates found now. Condensate is a valuable commodity and should be welcomed as it will enhance income. Ok so the facilities will need short shut downs for modifications but even our cars go in for a service, new set of tyres or the latest sat nav to be fitted. Better to get this sorted now rather than when even more wells are in production.
I would settle for a barrel of oil for every rns issued with a promise of jam tomorrow. If only SS and his colleagues would have a meaningful dialogue with shareholders. Where is the clear straight forward plan of action for the company? A dabble at this here, vague suggestion of something there isn’t a strategy. Pipe dreams!
Great to read in the Norther Echo newspaper (14/05/22) that Severfield has been awarded a contract in connection with the construction of a new 314 metres high replacement mast structure, weighing more than 200 tonnes, at Bilsdale by Arqiva. The original mast was destroyed in a fire in August 2021 and those of us that relied on it for our TV signal suddenly found we had to find some other way of entertaining ourselves. The temporary fix that was put in place has been reasonable but it will be nice to have a permanent solution using the know how of Severfield who are based in nearby Thirsk. All good!
Good to see the directors are arranging their performance options. If they want them to be beneficial they will have to make some gains for us all too........ except that I will not be along for the ride. I sold out my tiny holding, and I mean tiny, for a profit of 55p today. Well a profit is a profit! JP has disappointed for too long. I hope he makes all Coro shareholders very rich indeed. Good luck!