Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
To recap on managements performance and progress since Harbours inception -
1. Paid down over 90% of the debt, which amounted to 150% of the market cap. In doing so they have protected shareholders and the company. Oil could fall to $40, Harbour would survive thanks to this action.
2. Returned billions back to shareholders, introducing a sizable dividend that is comfortably covered by earnings and that continues to rise, AND bought back nearly 20% of the shares, returning more value to shareholders in a non taxable way.
3.Embarked on one of the boldest and ambitious takeover, buying a company five times their size, diversifying their portfolio all over the world which as well as offering shareholders protection from cowboy governments (no one saw the WF tax coming) will also significantly increase earnings.
Outstanding work, so far.
Sure - I'll throw in 3 months bank statements and a copy of my passport while I'm at it.
You wally.
Well that can't be right.
Harbour Energy is only 3 years old.
Premier Oil was a dog. Low production. High debt. Bad management. I wouldn't have touched it with a barge pole.
Harbour Energy is not Premier Oil.
Crazy.
Oil is at $90.
While this company trades less than 300p a share, its buy buy buy. If it drops, buy, drops again, buy.
Unless you're talking about a few grand or you need the money fair enough.
But anything else, accumulate.
I would be amazed if we ever see 240p again.
There will have to be an almighty crash in oil and or the WD deal collapse, failing that, no chance IMO. But who knows.
A resilient day so far for our oil and gas company. Ex div tomorrow - be interesting to see how the share price reacts following the adjustment.
Brent at $89. A licence to print money for these oil and gas businesses. Make hay while the sun shines.
Given the rise we've seen recently - a pullback/consolidation is a good thing I think.
CPI this week so no doubt we'll have some volatility.
I'd say so.
Solid business, great cashflow, high dividend, massive growth prospects, almost no debt, in what's looking like an ever increasing inflationary environment.
It will make a big difference, Jack. Believe that.
In the last 23 years (the length of the chart), there has never been a down gap on the weekly oil chart (that I use) that has not filled. Currently there is a gap at $105 and a slightly larger gap at $120. So all those negging out about this stubborn stock - its worth coming back and checking the price once those gaps fill.
No idea when that will be, but they will fill, they always do.
If it hasn't broke 280p by then, I'm gonna sell up and go join the revolution with Rookie and his mates .
Rookie - why is it depressing you? Patience my friend. You'll get your 350p. But if you are still holding it then surely it makes sense to buy some more and bring your average down? Dividend coming up in May.
Remember - its impossible to go bankrupt if you don't have any debt.
I guess not
I'm not sure what you're getting at. I see value in Harbour Energy's balance sheet, in their business model, in their management.
I don't care about the news. There's always another crisis, war, crash, recession.. Until i see it reflected in Harbours earnings, its just noise.
I'm seeing value
I'm not saying I'm right. I could well be wrong. When I look at Harbour, I see a good business, when someone else looks at Harbour they may see a dumpster fire.
So far I'm being proven wrong.
If investors are buying Harbour Energy in the expectation that it will go to £10 in a year, of even £5, then they should not be investing. I suggest punting crypto.
If you invest in Harbour or any business for that matter - the same considerations should be applied as if you are buying the local laundrette. Balance sheet - debt, cash flow, profit. Management. Growth.
If you are gambling then you absolutely should have sold the rip at 320p. If you are a serious investor then you will be more than happy to accumulate more shares at these levels.
Oil looks as though its finished consolidating and is gearing up to embark on the next stage of its run. To new ATHs is my guess. However, a recession could throw a spanner in the works.
Should it play out - I hope the WD acquisition is over the line before we break $100 crude.... Tick tock.
Halfway through "The life of John D Rockefeller Sr". I highly recommend it. And it reminded of a quote from the great man that I thought I'd share with you all, from The Prize by Daniel Yergin (another great one).
"Hope if crude oil goes down again our Executive Committee will not allow any amount of statistics or information to prevent their buying, we must try and not lose our nerve when the market gets to the bottom as some people always do. We will surely make a great mistake if we do not buy."
Now granted this was in the late 1800s and he was talking about standard oil and oil in general. But its interesting, to some.
I hope Linda Cook has read it and runs Harbour in a similar style.
I mean one of the richest men in the World investing in a mid cap UK oil and gas company is odd, he obviously sees or knows something. He's not an idiot and he knows far more about the situation than you or I. So its encouraging for investors.
Zama may go pear shaped, it may not.
But the reality is, we were all investors long before Slim and his crew. I took a punt on it following the PMO merger, as I did with other small oilies being convinced the oil price would rebound. And based on a whole hat full of reasons, fully expect the oil price to break $100 and remain there for some time in the future.
However, what started as a punt, Harbours earnings, balance sheet, management have impressed me and has now become one of my biggest holdings. Until I see something that convinces me otherwise, I'll remain invested.
Wintershall DEA has a 20% stake in the Zama field - which will bring Habours interest to over 30%. Talos has approx 17% stake, Slim owns around 20% of Talos and 7% of Harbour.
"Final investment decision for the field development is expected in 2024, followed by the start of production in December 2025. Peak production capacity of up to 180,000 barrels of oil and 70.35 million cubic feet of gas per day is expected to be achieved by 2029."
Harbour is a long term play, fingers crossed the acquisition goes through, and their earnings will grow considerably. At which point the share price will rise considerably.
Its not often you stumble across an oil company at the very beginning of their journey of (hopefully) growing into a titan. Obviously a lot could go wrong and the company will need luck along the way, but as it stands, the balance sheet looks excellent, management are experienced and ambitious, and the oil price is being defended by OPEC which will help navigate any potential hiccups. GLA.