Member Info for ShaunCod

Nice trading update, good to see that BAE remain positive on the future outpook of income and growth.

Good interm results and a small increase of dividend for the first quarter to 2.85 GEL (roughly 78p a share just now). Nice to see the growth of the business and another buyback announced

Hopefully a nice blue day

Solid trading update. Enjoying the high teens RoE that they continue to aim for even in softer periods with a conflict going on.

Aiming for a healthy special again.

Plus RR hit their highest price of the year when oil was over $70 a barrel when the majority of the year the price of oil was in the low $60s. So according to your sole reasoning, this shouldn't have happened? Oil price was higher but so we're the Shares.

Obviously there is a huge rise in oil price at present which does affect the share price however the long term fundamentals are what people price over. Plus high oil prices dont last forever and the world adapts. I look at what happened in the Russian conflict and a lot of oil was removed from the table there. Prices stabilised and dropped significantly. The same will happen again. And with UAE leaving OPEC and will undoubtedly produce more oil once full capabilities are back then the price will potentially drop to an even lower level.

Even with oil up today, I sold Ithaca with a 270p average and thats where it remains roughly today. I dont see oil shooting up much higher as I feel the war is closing at its end/or oil deliveries will start to flow though the strait or other means. Oil prices will remain high but not at this high so I felt it was the perfect time to sell (and since I had an average of 164, it had been a remarkable rise and for once, an excellent profit now that Im not being an idiot and looking at a lot more higher risk companies). Alongside UAE pulling out and poor hedges regarding the majority of oil produced, I feel there is a lot more value in RR than I would have in oil companies at the present since this is their high. I dont want to miss out on banking what profit I have made and being too greedy.

So I invest in a company that has good fundamentals, lots of projects ongoing and coming up. Good balance sheet, profit and a dividend now being handed out whilst it has been going down a significant amount due to the ongoing conflict that will rebound once oil shipments are less impeded. Whilst demand for the companies products will go up due to this because of the nature of the conflict.

For me its a no brainer. Ive made a good profit and then look to somewhere more stable that has excellent growth potential. Instead of missing the boat.

Just sold my Ithaca Oil Shares yesterday and bought into Rolls Royce. Even though Ive only invested for a few years, RR seems a very prudent share to buy.

Re-introduction of a dividend, increasing revenue and profit with share buybacks in place. Looking like a very good growth share that I plan to keep for a number of years.

Was looking to buy back into oil after the end of the war and the ultimate drop of share price however with OPEC having a UAE hiccup and just the fundamentals of RR, this seems a much better bet.

The transformation has been spectacular and it seems it will continue this way.

Https://www.bbc.co.uk/news/articles/cp9v3093jd0o

Special dividend payment day today

Payment day today 👍

Ithaca up today on ex-dividend day. A nice little bonus!

Its the special ex-divi today hence the fall.

Its in the final results RNS

The 2026 hedge book has been built to deliver oil price certainty with >80% of oil volumes in 2026 hedged using swaps at an average of c.$67 and with collars including some participating up to c.$90/bbl ceilings. Gas hedges in 2026 deliver material upside to the business with >40% of gas volumes in Q1 to Q3 either unhedged or hedged via collars with up to 130p/ therm average ceilings.

Good results! A nice special 50c special divi just over 5% i work out as well as the 15c final divi.

A good final year set of results as well which shows Lancashire growing which is all what we want to see

As per the recent RNS from the trading update

Hedge position provides strong coverage into 2026: Material hedge book at year end 2025, with further proactive hedging through Q1, taking advantage of upside market volatility, to build a strong hedge position at 31 January of 43.8 mmboe (c.58% oil, c.42% gas) into 2027, with average oil swap pricing >$66/bbl and average gas swap pricing of 92p/therm, protecting 2026 cash flows in an anticipated weaker commodity price environment

As we have had an average of 148kboe/d for 2025 that would assume our hedges would cover roughly 295 days of the year with the rest on the open market unhedged, However this is pre new wells which has increased production so there is undoubtedly more oil/gas being produced and when into 2027 that the hedges expire (end or start of the year which would allow for more barrels on the open market without hedges,

I am probably wrong to be honest but thats what it seems to me

Im guessing it will have to wait until end of year results in March

Nice cash flow as well confirming the dividend and hopefully with these results maybe for next year as well (no reason why not unless they need to splash some cash on aquistioms).

Lets see what the market thinks

A nice RNS. Managed to hit the updated production target albeit at the lower end however larger production going forward with the other wells.

Nice c

Nice seeing the bump up because of the Beazley offer by Zurich. A 40-50% premium offered for the company.

Makes you think what Lancashire would be offered but there would still be a reluctance by myself at a 40% premium mainly due to the really nice special dividends that have been given over the years.

Have had Lancashire for just over a year now, the special dividends were the attraction for me as an income share. A lovely 8.5% this year so far for the special and let's hope a decent one in March. So far no disasters that affected the March special last year so hoping for a 50c minimum special. (Another 75c would b3 ideal though but not counting my chickens)

A diverse portfolio is ideal but do you value income or growth Shares more? I prefer income personally because it feels more of a guarantee. (Even though as we've seen in the past its not...)

I think it was mentioned that they expect it in Q1 of 2026 that a decision would be announced. I think that was from the investors call about the Q3 results but there's nothing definitive.