Member Info for SlickMongoose

I prefer a broker that sticks their necks out rather than just setting a price target around the current price or current price + a small % which seems to be common. Not saying they're right or wrong mind just I have a bit more respect for it.

If BP can consistently produce quarterly profits around $5bn (which I think is expected for Q4) then would a p/e ratio of 8 be unreasonable?

Why do you stick with them then?

They use the futures curve when they do their calculations rather than try to estimate prices themselves, and the futures curve for 2023 has dropped a lot since the announcement. Gas is a volatile commodity so nobody ever knows for sure what prices will do. Last month prices were around $6 CAD, current daily prices are around $3.5 CAD, next month prices will be..... ? Futures curve says $4 CAD but things can change quickly.

They will review their capital spend half way through the year and amend the capital budget as they feel is necessary.

Dividend payment was $1.14 billion last quarter, x4 = $4.56 billion, x11% is $502m not $40m. If you can't do basic mathematics don't post. And this is an ongoing annual saving not a 1-off.

zac0_4, you are missing the impact on each shareholder's share of future cash flows. If BP buy back 10% of their shares the % of the company you own goes up by 11% and BP can increase the dividend per share by 11% without spending any more money,

Henry Hub futures continue to fall, most of 2023 now trading below $4 which probably explains the drop here. A lot of production is hedged but not quite all of it.

I'm with you Stas20, value should be based on the company's assets and cash flows not recent price action. I don't think 35p really represents fair value here, but obviously dependent on the price of oil and gas.

I don't see any advantages of a main market listing, nor do I care about attracting bigger funds. As long as the dividends keep coming in and increasing in line with production investors will get their rewards through the performance of the company. I don't want a lot of promotion from the CEO either. Just let the results do the talking.

Great update today, I love monthly dividends and I love it when dividends get increased significantly.

Yes, of course, which is great as long as trading continues to be strong. And maybe trading is fine and TheBigMan21's comment isn't reflective of the company as a whole.

But if trading collapses then the company will need to hold onto cash, which means they should stop the buyback. In 2008 all the UK house builders were happily buying back stock and then the market collapsed and they had to issue equity to survive, effectively buying high and selling low. The last thing we want is for that to happen again.

It really makes very little practical difference whether staff are paid bonuses in cash, or in shares which are subsequently bought back with cash.

Surprised they're still doing the buyback if trading is that bad.

Evil. You are all evil.

Everyone has been too polite to point it out but please stop replying to this thread, my typo is embarrassing.

Has there been a dividend announcement for January yet? I might have missed it.

Problem with commodity producers focusing on growth is that at some point the commodity prices crash and you're left with a huge waste of shareholders money. Some combination is always best.

Imagine if every producer in Canada went 100% for growth. The market would be flooded.

For all the arguments here about i3e's capital allocation, at least we're not hoarding cash like sqz.

Doesn't the same slide in the latest corporate presentation state that they've fixed 75% of the leaks?

If BP announced that Rosneft money was going to help rebuild Ukraine, or even if it was just leaked to the press, Putin would confiscate it that day. Frankly I still expect it to be confiscated at some point , I'm amazed it hasn't been.

If Rosneft is by some miracle ever sold & the money in the bank I would be fine with the proceeds being used to help rebuild Ukraine because that's the right thing to do.

Sterling has been doing well vs the dollar as well mind.