Member Info for Stingray77

I got mine this morning, IG are good in that respect annoying now I have to wait a month to get the ones in my Ida's though.
S

Next Thursday
https://dailybusinessgroup.co.uk/2023/03/windfall-tax-to-be-relaxed-amid-falling-prices/amp/
S

I thought the announcement about EPL was next week? Was wondering what everyone was on about, doubt it would have gone down well to announce a tax cut to O&G Company’s on "Green day"
Might be wrong
S

Oh well, it was a nice thought. Shorts increased again.

Capital Fund Management have reduced there short again but after last time, im Loathed to proclaim the short is closing!
S

Thought I would post this, as I for one wasn't aware the latest batch of selling by EIG had a finish date. They went from 37% to 16% last year now with this batch of 2 mill there down to 15% losing a place on the board, which is also probably a reason our chairman sold a load too.
DYOR S
https://www.businesswire.com/news/home/20230206005667/en/EIG-Enters-Into-Harbour-Energy-plc-Trading-Plan

Personally think this is a delayed declaration, might be wrong but this could be an increase from 4 days ago and after the weekend they will announce they've cashed in the short. DYOR S

Citadel have opened new short 0.51%
https://shorttracker.co.uk/company/GB00BMBVGQ36/

At the moment this share is not affected by the fundamentals, even if oil rockets Harbour will just bounce, our time will come. Hopefully the results will be that good they will clear all the sellers and the shorts will get burned. but the next 2 weeks are going to be tricky, I said 2 weeks ago £3 was coming, no idea how low it will go but until the shorts start closing we're on a downward trajectory unfortunately.

Not if it follows the same pattern as the last few BOA releases, £3 here we come. As I've said lots of times until Taconic start to wind up there short, we're not going anywhere, really positive about this share but timing is everything, hopefully this will be the last drop.
DYOR
S

Genuinely hope so, just so many moving parts going on behind this share, it not just the fundamentals, otherwise we would be north of £5 by now. Even with the windfall fiasco.

I repeat what I said on Tuesday until Taconic start to unwind their short this won't go anywhere fast, they know how many shares are left to get sold, fully bracing myself for another drop to around £3 as the peps who brought in expecting a rise are disappointed and leave as well as the constant selling. Long term this is a screaming buy just think we're in for a bit more turbulence yet. DYOR S

Don't think there are any rules about number of share purchased just the impact it can have I.e. they may not be allowed to move the price by more than 5% . I suspect they are happy to let our seller keep price low, so they can buy more shares up, situation will be very different once they finish and the shorts bugger off.

I think we'll have a really good update, but after an initial blip we'll be back to these prices, because an rise will be heavily sold into, Taconic must have inside information about how many more shares are left to sell, till there happy to see it rise or they finish selling down their position, once I see those shorts start to close I'll have confidence any rise will last.

Only a small move, but a reduction none the less by capital

Last time they had till 8am to report, can't be ****d to check but guess its the same this time.
S

Hi Smartie, I wasn't referring to any actual regulations.
More the terms of the deal with brokers. And again pure speculation because unlike other shares I've been in they haven't given any details of the buy back other than total cost and completion date. But I said last time that other buy backs have not wanted to spike the SP so we're limited to max 5% movements and the last two lots here did seem to stick to that.
S

Wouldn't imagine it will go much higher today as we're already at the 5% buy back ceiling IMO, but same rise tomorrow will be good, I'm just happy we didn't only buy 500k yesterday as I was beginning to think that was a new rule for this set of buy backs.

Wonder why their limiting them to 50000 a day? It's almost like their not really trying till after the budget? I think we'll go back to being limited to moving the price 5% again after tomorrow and buying back a lot more shares.
IMHO
S

As much as I would have love Hunt to rule it out he didn't! He said he wasn't opposed to taxing genuine wind falls, but he said something onlong the lines that oil and gas companies run on famine or feast, so basically clear as mud