Member Info for Slift

Baker Hughes Rig Count as of 17/04/20: 529

Rig Count as of 22/04/20: 472

Expecting Baker Hughes rig count (24/04/20) to be less than 472 tomorrow.

Yes, they did lose voting, but it's such a high number so the company clarified it below:

"Response to votes against Resolution 13 - The Board notes that Resolution 13, to authorise the Directors to make allotments of shares, had a significant number (33%) of votes cast against it but, being an Ordinary Resolution, was passed. This vote against was a clear statement from a few of our shareholders one of whom the Executive Chair and CFO have been in regular engagement with, including ahead of today's meeting. The Board now has an understanding of the concerns raised by them. Resolution 13 was proposed in accordance with routine practice in the UK and complied with the guidance published by the Investment Association and the Pre-Emption Group. The Board has no present intention to exercise this authority, and only wishes to have the flexibility to do so in appropriate circumstances. The Board will now analyse the other votes against this resolution and will continue to consult and engage with major shareholders in order to understand the reasons for it. In accordance with the provisions of the 2018 UK Corporate Governance Code, the Board shall provide an update on this engagement process within six months of the AGM."

LongerShoter
32.94% of the shareholders voted AGAINST a rights issue. Therefore, company will not issue rights to raise money.

A rights issue is where the company offers additional shares at a discounted price to raise money. This effectively devalues share price as more shares would be given out AT A DISCOUNTED PRICE.

1. No mention of approvals for asset sale (probably going to be mentioned in the circular to be issued with further details of the transaction)
2. 32.94% voted against allotment of shares. LOL that alone should be +10% in share price IMHO

Still no AGM Results.

Canarywharfy must still be voting against the sale :')

More of a hobby for me. I'm 25 and have a job as a security.

Share trading is fun and risky. But rewarding when you have luck on your side.
End up learning a lot on both the corporate world, as well as the world economy.

Brent and WTI up.

Good little risky share for tomorrow ;)

Buy/Sell at your own risk!

Metrics?

I'd say Risk and Luck.

Since everyone here always type poop in this chat:

World Bank's 2020 outlook for Crude it's 35$/barrel.
and 45$/barrel for 2021.

See a little upside in POO.

17+$/barrel.

Information only.

Goldman selling the shares they bought last week since shorters no longer want them :')

Would be interesting to see how many shareholders actually approved the asset sale for conditions listed in todays RNS.

Or tomorrow maybe.

Anything around or under 25p in the current market conditions, POO price and the recent news is a bargain.

IMHO.

28.33% of revenue generated for first oil year I read?
That's assuming REALISED OIL price is OVER 62$.

Also net is after tax which also varies depending on POO.

Might have interpretted it wrong.

Sold 75% of my holding today.
Like Tullow with the Asset sale, I feel ripped off with the SP.

No new company news expected from Tullow until Q2.
Holding 25% share for the potential upside following recovery of POO.

GLA.

Title says it all.

Opening into Auction.

$386m.

Better than i thought :)

It was just an observation!

I do have a holding, whether long term or short term i don't really know.
Doesn't really matter to me, this company will definitely do well long term.

I am a little annoyed that they paid out $88m in dividends last year too, but they never expected the writedowns later in the year. Can't be helped!

99.9 % voted to authorise the company to purchase its own shares.

How many shares were purchased in 2019 by the Company?:
0.