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A special divi and standard quarterly div of approx 4.5p per share very is likely to be attractive to many with an ex divi date of 25/04/24 and the following divi expected just 4 weeks later (23/05/24) with potential transformational news due anytime in the next few weeks/months anyone trying short term trades will need fabulous luck or knowledge.
David Latin, Non-Executive Chairman, purchased 20,462 ordinary shares at an aggregate price of 180.04p (£37k) following the CFO's 19000 share purchase earlier today (£34k), following David Latin (Chairman ) recent purchase of 117,255 shares @ 183.7p (£215k) & Mitch Flegg's purcase of 75000 at 189p (£141k)....The BOD are buying.
https://twitter.com/surprised_trade/status/1765801930217902485
Tax breaks a great incentive for investment and production....
Broker note with'' a number of catalysts noted that offer upside between 32% & 90%+ (excluding the very likely transformational MPNU deal from it's forward valuation) and a current divi around 7%
We calculate NAV at 169p at a 15% discount rate rising to 244p at a 10% discount rate, offering 32%-91% upside (excluding MPNU or conversion to PIA terms that offer further upside)''
https://twitter.com/surprised_trade/status/1757355886517891140
The Acquisition will transform Harbour into one of the world's largest and most geographically diverse independent oil and gas companies, significant progress has been made on the various approvals and workstreams required for completion, expect the Acquisition to complete in Q4 2024. dividend per share growth for the full year 2023 of c.9%
https://twitter.com/surprised_trade/status/1765647013348004129
Pending a new CEO taking over and surely a non UK Oil/Gas play upcoming with their buying power.
https://twitter.com/surprised_trade/status/1765310431701164313
Added to holding 139p.... cash at bank $450m (2022: $404m), Revenue $1,061.3 million up 12%, Production averaged 47,758 boepd, up 8%, special dividend of US 2.4p, in addition to Q4 23 declared dividend of 2.4p, confident will acquire transformational Exxon Mobil's (MPNU)
https://twitter.com/surprised_trade/status/1765000718711160836
Https://twitter.com/surprised_trade/status/1764299743264399582
Broker report out - FY23 results – strong performance, more to come
''Seplat delivered a strong operating and financial performance in 2023 with production up 8% to 47.8kboed and EPS increased by 27% to US$0.14, despite a near 20% fall in the oil price. Reserves increased by 9% to 478mmboe. Guidance for start-up at ANOH was reconfirmed and Seplat remains highly confident that the transformational MPNU acquisition will complete. Cash flow was strong and net debt was reduced to US$306m (YE22 US$366m). The current quarterly dividend of USc3 was supplemented with a special dividend of USc3 taking the total full year dividend to USc15,
This was an excellent set of results from Seplat, confirming that benefit of the new resilience in production from enhanced export access and 2024 promises an even better performance..''
Cash at bank $450m (2022: $404m), Revenue $1,061.3 million up 12%, Production averaged 47,758 boepd, up 8%, special dividend of US 2.4p, in addition to Q4 23 declared dividend of 2.4p, confident will acquire transformational Exxon Mobil's (MPNU)
https://twitter.com/surprised_trade/status/1763105027000881450
Oil and Gas ⬆️ Oil stocks down ⬇️ 🤦♂️
https://twitter.com/surprised_trade/status/1762847508496048165
The largets trading houses have pledged investments in the green energy transition, but returns there are very poor, as the integrated oil and gas supermajors have seen first-hand over the past years. We borrow much less from banks and are waiting for good investment opportunities. But those are slim in loss-making green energy an executive at one of the top trading firms told Reuters.
Low returns from renewables have prompted oil and gas giants like Shell and BP to streamline and/or reduce exposure to renewables and clean energy solutions and pivot back to their core business of oil and gas
Oil and gas provide profits unlike renewable projects where losses have been at multi billion dollar levels over the lat year, investment will only go where profits are available.
Patience required as Downing selling down their holding, however, broker note out with target price 290p
https://twitter.com/surprised_trade/status/1762759745981628713
While official data indicates an oil glut, the physical oil market is experiencing significant tightness, as evidenced by soaring spreads, contrary to market expectations.
Factors contributing to the physical market's tightness include supply issues in various regions, including vessel diversions, freeze-offs in the US, worker protests in Libya, and logistical constraints in the North Sea
https://oilprice.com/Energy/Crude-Oil/Short-Sellers-in-Trouble-As-Physical-Oil-Market-Defies-Data.html
''Short Sellers in Trouble As Physical Oil Market Defies Data''
''EIA (Biden's dept) has done everything it could to indicate there is a glut of oil, Biden fears inflation before the election, the physical market is sending just the opposite signal, with spreads showing screaming physical tightness.''
https://twitter.com/surprised_trade/status/1762530470191939606
Once again we have a party threatening to undermine the energy sector with a position on oil and gas that is not grounded in the reality of how net zero will be delivered. Labour has fallen into the trap of presenting the switch as a binary move from one source of energy to another, and suggesting that 200,000 plus workers will simply hop off their oilrigs and into a new green energy job.
The reality is far more complex and requires a pragmatic approach to domestic oil and gas production — one that is realistic about the time it will take to build projects and jobs in renewables, and one that is honest about the energy we use.
Our politicians consistently forget the “net” in net zero. We will still need oil and gas beyond 2050. And if we are to do that in the most efficient way possible, we need new North Sea fields. Labour’s wrong-headed position on new development is unsurprising, given it has been drawn up without any engagement with the industry.The price of getting the energy transition wrong is huge. Labour needs to reflect hard on these numbers, talk to the people and companies and come back with a sensible position.
Siemes and Orsted have suffered $4 -$5 billion losses on wind farm projects this year and it is clear Labour and Starmer have no idea about the energy industry economics, wind or oil. The labour stance on windfall tax and allowances displays their total lack of business acumen and the lack of understanding of the impact of their policies. For a government in waiting displaying such ignorance of the UK's energy sector is a concern and it is clear that North Sea operators will begin a transition away from the UK in 2024 leaving less tax take for Labour and less energy security for the UK.
Labour have a short window to develop a plan in conjunction with the Oil and gas sector or see a complete collapse of their 'energy polcy' .....SQZ can still make a profit in the North Sea due to their nifty operation, however, they must surely be poised for operations beyond the North Sea and away from both Tory and Labour tax grabs.
Offshore Energies UK issued a post-
CEO, David Whitehouse said: "Labour either can’t do the maths or haven’t considered the alarming jobs impact that will be felt up and down the country. With no new investment, 42,000 jobs will go, and we could start to see the effects as early as this year. These are not faceless numbers but decent, hardworking people working across the UK to provide the energy we will need today and in the future.
The impact of no new investment will be felt across the whole economy – today we estimate the UK will lose £26 billion of economic value. It will undermine the very industry which can and must play a critical role in delivering a homegrown energy transition.
Last week I listened carefully to the Shadow Chancellor promise that Labour will work in partnership with UK businesses. We’ve always said the path to net zero is through working together between government, business, and people, ensuring no individual, community or sector is left behind – that’s not what we’ve had from Labour. The least this industry, our people, and our communities deserve is an urgent meeting with Labour leadership."
Posted earlier today - ''It'll take time to realise a decent rise, as broker trades, undisclosed shorts etc all have to manouvre out on a very decent rns, it took a few months to walk it down and will likely take a week or two to climb, there will be vey few with profits in the low 9's and it will take a bit of trading against the buys to calm the sp to allow a few to change position, brokers algo's are quick to push it down but test patience on a decent rise. The good news is it's good news and fundamentals will win in the end .''
A few will have changed postion today on a decent rns as stated above, broker trades, undisclosed shorts etc. and the consistent 20-30,000 block (around £2k ish each) trades were placed sufficiently well to 'calm' the sp (as stated not many, if any, will be in profit on long positions in the low 9p's ) so once all re positioned the sp will have the freedom to rise on fundamentals going forward, Oil and gas both up tonight and i3e clearly placed to see a return to a more respectable sp over coming weeks .