Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I added another 400 shares at 940 today, but the trades are showing someone sold 4000 shares at that price. I think what's being shown is incorrect.
Oil when did they say creditors are still locked. I wonder if you read presentations properly. Creditors have an 18%, they were never locked in. The remaining 30% who are locked in are legacy EIG investors they are not creditors. Private investors still account for 5%, unless the creditors have offloaded and been bought by private investors, which the board has never gave clarification on how many creditors are left.
Ive tweeted to bbc question time, really hope this gets answered. If not then BBC is just as bad as the government for not highlighting such scandal!
OK I will dig out my twitter password at lunchtime and ask as well. I really think if at least 100 people propose this question we may get heard!
So we have the following figures from the presentation:
50k of oil hedged @ $61
50k of unhedged oil
60k of gas hedged @46p per thermal and each barrel is c58.14 thermals
40k of gas unhedged
$1b of capex
$17 per barrel of opex
$300m of decommissioning cost.
So at today’s prices of $74.95 oil, 335p per thermal, FX of $1.328/£1, our free cashflow for 2022 would be £3.384b. Or £9.27m per day.
Ignore tolmount then we are generating £5.63m per day! So Jan without tolmount we will make £175m or $230m. So if prices don’t change HBR should be able to get rid of debt by end of 2022 even without tolmount. So share price and market cap ridiculously low!
Is question time on tonight, wondering if we should put the question forward to the mp panels of why we use chappy chinese products when we have so much quality supply in UK that's value for money?
I've signed it. Personally I have stopped using any made in China products 2 years ago, so I would've signed this without being a shareholder. I don't even buy cheap stuff from ebay, amazon, primary as a rule!
Oil, although they shafted us with a 5% holding when in fact it should've been around 10% to 15%. Buy at merger day they had 2.9b (50% pmo and rest of hbr own debt). They reduced to 2.7b by end may. And reduced to 2.3b by end of Nov. Have they not earmarked 0.2b for divs, then it would've been 2.1b. So they are paying off 100m a month. Hope that helps.
Awesome, let's hope sajid javid take note and approves of odx lft soon, otherwise he should be ashamed of himself. If this happens expect to triple in share price!
This morning it was 304p, now 327p nice stuff. Shame about no tolmount to take advantage. Next year fcf output is 3.3b quid, allowing for hedges and price of oil at 73. Next year itself is worth the market cap so price of share massively stupid!
Kayel, part of my reasoning to hold on is that last timr a director bought in was just above 350, so fo me that created a minimum which has already been breached. Purely on this basis I doubt we will hang around at such a low price for too long, current oil (75) and gas price (2.90) suggest an EV of £7.5b, so around £6 a share. In fact, if those prices remain throughout 2022 and the hedges they described, 2022 fcf is £2.5b enough to pay off debt and pay a dividend. Tolmount reserves dropped from 40m to low as 20m, so reducing the life span by half by still producing 20k per day, sure they'll find more assets to acquire in 5 years to replace the hit.
Hi Oil
Interesting question you proposed, having a dig at YE accounts, something is fishy but not as you put. Its more about lack of transparency of what they done and came across dodgy.
Chrysoar had private equity of $1.1b, debt totalling $2.2b. Premier had public equity of $0.2b and $2.1b of debt.
So if you look at Chrysoar equity and Premier equity and debt you get 1.1 + 0.3 + 2.1 = 3.4b, giving premier just 5% value of the company. So far so good.
Here comes the dodgy bit:
1. Looks like they raised further debt of $1.1b, to pay of premier creditor and leaving them with $1.0b i.e. 18% of the company. Its dodgy, as I cant find anywhere them announcing them doing this and hence misleading us poor investors. But it makes sense as they have then been saying they had reduced net to 2.7b by end of may. Given they had announced in Jan how much share we were getting, it adds up that they had prob had debt of over $3b at start of the year. Otherwise how did their debt suddenly increased from 2.2 at 31 Dec to 2.7b by May.
2. Worst dodgy bit is after restructuring they gave themselves a share of 77% of the company by allowing debt as part of their holdings doesnt make sense as it is double counting. Having a look at this, I think FCA should investigate their dodgy practise, because the numbers dont add up.
Looks like we have been shafted!
Finally dbno questioning the stupidity of share price. Seems like a triple m propaganda only they know what and why they doing this. I've gone over the presentation many times, the fundamentals provided doesn't equate to such a stupid share price.