Member Info for ShaunCod

Happy with the results, seems like we are on track. It was this part that kept me wondering. Does this mean from that from 2024 they can amend the amount of hedging or what has been announced (due to previous restrictions) has to go ahead?

As part of the redetermination, we amended the oil and gas price hedging requirements which are now linked to the amount drawn under the borrowing base. This means that while we remain under 10 per cent drawn there are no minimum hedging requirements on our business. Approximately 50 per cent of our 2023 production is hedged - comprising 64 per cent of our gas production and 33 per cent of our liquids production - due to historical hedging requirements.

And I wouldn't be surprised if they announced at the TU an increase in share buybacks.

Because in the longer term it would be better for the business. When we eventually become debt free, I would expect to see HBR as a more attractive option (prior to any acquisitions/mergers etc) and more investment. To buy them at a low price and when news happens then it would be a much higher percentage increase. On top of that it improves the value of the dividend as well.

If you are in only for the short term then perhaps it's not great for yourself but for longer term holders, I can only see positives.

Normal daily circa has ranger from 240 to 500. There have been days where its been less but because of the increase in share price today, they cannot buy so much as they can only have a limited price rise over a certain number of days (I think 5% if someone is able to prove me right?)

HBR has had an 8% interest in Edgon.

They are being bought out by Petrichor (spelling?).

Nothing special really

If the sale went through then it is only a few million (offer of 4.5p per share)

Nothing big then for HBR this time.

Https://www.egdon-resources.com/investors-2/share-structure

Well HBR have had a 8.53% interest in Edgon resources prior to today so I am guessing this must ne due to the takeover by Petrichor

Union Jack oil also appear to be involved looking at the RNS on the Edgon Resources site.

Plus reducing debt by about 1.5 billion or so on top of that.

Very good update, only 200m left in net debt which is impressive. Once debt free then I feel confidence will grow. Would like to eventually see a M&A from FCF to underline the strength of the buisness instead of using debt facilities. (Also a nice small saving on interest payments).

Nice to see we are on course for our targets and stll another $150m of buyback to go.

Why would it increase though? Have they started drilling? Is cash coming into HBRs coffers?

Its great to see there is an opportunity to make cash for HBR but until there is something workable in place then why should this increase a lot? Once extraction occurs and of a good quality then the share price will rise.... until then we wait.

Slater what is your end goal here?

IMO, HBR have a lot of potential.

1. They provide a dividend (which is good for LTH such as myself... I bought into PMO when it was peanuts at covid time).

2. Share buybacks. Even as you exclaim it makes no difference, my dividend this year is bigger than last year thanks to the dividend. Furthermore if there ends up being a rush for shares due to positive news then there would be a difference.

3. Debt. 800 million in debt at the last update so down from 2.3 billion the previous year. Surely you have to admit that is a nice drop in the debt and hopefully a small drop in debt in the next update in May.

4. Production costs are low and making a good profit on each barrel of oil and gas that is pulled out. That is the goal of HBR after all.

5. OPEC. Wanting to keep prices above $80 a barrel is good as there will continue to be hood profit on each barrel produced.

Cons

1. EPL - Obviously this affects HBR (even then it is a profits levy and not on all production which is a relief). If they find a floor price then it will improve, if not then we will have to work with what we have.

2. Diversification. With the EPL it makes sense to looks at other areas which HBR have declared. There are good prospects within HBRs portfolio already but they need to be started to make a difference to the share price so no movement for a while there unless they buy new cash generating production elsewhere. The question is when will they do this so not to pay over the odds? Will they wait till they are debt free first?

3. Economy. Well just now we are up the ****ter. Less money people have to invest, less holidays/use of oil and gas which will drive the prices.

In my eyes, we have a very good prospect that is cash generative. Reducing debt (to hopefully nil debt next year), good oil prices and good dividends alongside share buybacks which will help improve my dividend.

Because the price is above the 5% average over the last 5 days as termed in any buyback

The government are blinkered and wont do anything until producers stop producing.... They will raise taxes this way and still get away with it. Once UK production drops and taxes reduce then we may see the government change its approach but im honestly not holding my breath. This is why its vital for outside UK acquisitions/partnerships to avoid these heavy taxes.

I honestly dont know if its excellent as its just a submission. The approval process is the key and we can see how fickle and complicated getting the approval can be. This is why I think the share price hasnt moved because there is still nothing definite happening.

Once the approval, then thats when we can get excited and perhaps the share price can move forward.

Good news and a step in the right direction but nothing exciting yet happening.

After the aftermath and all the doomsayers and ambrosia chasers we ended up pretty flat which I am happy with.

A good solid results day. A 'profit' of only 8 million is a nice soundbyte for the papers to put pressure on the government but in reality a very good profit.

1.5 billion in debt reduction, 500m of share buybacks and 200m of dividends. A nice 2.2(.08) billion profit with 700m back to the shareholders.

Won't be debt free by 2024 (I will say potentially because it could be 2023 depending on prices) however only 800 million left to go.

Hedges start to expire and some better prices put in place hopefully but still a large number of hedges around.

Another 200m dividend with 200m share buybacks which give 400m back (potentially more if they announce more at the half year results which I believe they will (especially if the profits levy stay the way they are).

What will make the share price rise?

1. An m&a somewhere outside of UK waters.
2. Profits levy adjusted, scrapped or minimum price levels implemented.
3. Become debt free this year ahead of the new 2024 schedule.

Sounds good. I'm in this for the dividends at present. This has a few years to go before I think about selling and thankfully in no rush.

Any other things I've missed?

Ecuador will have nothing to do with it. Short term issues do not worry shorters.

More likely it would be the release of the year results and how debt is doing which could be a reason that they reduce. If an increase of divident/more share buybacks/acquisition/debt free is announced then there will be rise in prices as they then leave.

I think people are just fed up with you and Jeff spouting nonsense that has nothing to do with the share. I personally don't care for your views but they are your views but when you keep spamming them on a share message board then of course you will get flak. If you concentrated on messaging about the share then that would be different (then again you usually wish you never bought the share, claim you sell out then buy in again which really makes me wonder if this is the right share for you in all honesty)

I still see this as a slow burner just now, I don't think there will be any fireworks to be honest but the debt reduction is very encouraging.

Looking forward to the plans for growth outside the UK and we will see a growth of the share price as deals are announced. Once debt free there will be a nice increase in the share price.

I bet some people will be disappointed since they were looking to kick Linda out ??????