Member Info for surprised

Rising global demand for energy and oil is set to keep crude oil prices elevated, OPEC’s Secretary General Haitham Al Ghais told the BBC in an interview published on Tuesday.

Oil demand is expected to rise by around 2.4 million barrels per day (bpd) this year compared to 2022, and by another 2 million bpd next year, Al Ghais said.

“For next year we see demand continuing to grow north of 2 million barrels a day - of course, all subject to some of the uncertainties in the global market,” said the top official of OPEC, whose members are currently cutting supply to the market under the OPEC+ agreement.

he supply cuts from OPEC+, including Saudi Arabia’s 1-million-bpd extra cut, have tightened the oil market in recent weeks and sent oil prices to as high as $95 per barrel Brent last week—the highest level so far this year.

This week, oil prices have tumbled due to the rising U.S. dollar and concerns about higher-for-longer interest rates.

OPEC is more concerned about the underinvestment in the oil sector, Al Ghais told the BBC, adding that the calls for a halt in investments are dangerous.

Earlier this year, Ghais said that global primary energy demand is expected to surge by 23% by 2045 and that all sources will be needed to meet the demand growth.

OPEC’s outlook for 2045 sees global oil demand rising to 110 million bpd, with oil still representing about 29% of the energy mix.

Investments in the oil industry alone need to be $500 billion each year between now and 2045, for a cumulative $12.1 trillion through 2045,

Last month, OPEC rebuked the International Energy Agency (IEA) for claiming that oil and gas demand would peak this decade and for calling the “beginning of the end of fossil fuels.”

https://oilprice.com/Latest-Energy-News/World-News/OPEC-Secretary-General-Sees-Oil-Prices-Staying-High.html

Admission of the New Ordinary Shares and readmission of the Existing Ordinary Shares to the standard segment of the FCA Official List and to trading on the LSE's main market for listed securities is expected to occur, and dealings are expected to commence on the London Stock Exchange, at 8:00 a.m. on 6 November 2023.

I3 announces its 3rd Quarter 2023 dividend totalling £3.083 million and confirms the following:

Dividend: 0.2565 pence/share for the quarter

Ex-Dividend Date: 12 October 2023

Record Date: 13 October 2023

Payment date: 27 October 2023

The Prospectus has been produced in connection with the proposed acquisition by the Company of the entire issued share capital of MVI Ireland, MVI holds the entire issued share capital in Assat, LLC ("Assat"), which holds the Karaberd Operating Licence in respect of the Karaberd gold mine, located in northern Armenia, together with ore crushing facilities located between Vanadzor and Karaberd

Under the Framework Agreement, the First Additional Consideration Event shall occur once IMC has reached a total market capitalisation of £100 million and substantially retained that value for 90 days, in which case a further 68,509,748 Ordinary Shares shall be issued and allotted to the Seller; and the Second Additional Consideration Event shall occur once IMC has reached a total market capitalisation of £200 million and substantially retained that value for 90 days,

Subject to the Resolutions being passed by the EGM, Completion of the Acquisition pursuant to the Framework Agreement is expected to occur on 2 November 2023.

Once met a British oil exec in Lagos. The day before, he’d been to a disastrous party at a top minister’s house. The invitation said ‘Fancy dress compulsory’. He had no fancy dress, but was an enthusiastic scuba diver and by chance had his gear with him. He dressed up, took a cab to the house, rather surprising the driver, squelched up the drive in wet-suit, mask & fins, climbed the steps, and found himself in the midst of the party. All the men were wearing dinner jackets, since in Nigeria ‘fancy dress’ means ‘black tie’. He fled back down the drive and understandably had problems getting a cab to take him back to his hotel.

https://twitter.com/JohnSimpsonNews/status/1708226561860620784

Https://www.thetimes.co.uk/article/share-tip-cvs-vet-chain-should-keep-investors-purring-8nk25d037

''Shares in CVS Group — which owns about 500 veterinary surgeries in the UK, the Netherlands and Ireland — crashed 36 per cent last month when the Competition & Markets Authority (CMA) announced a review of vets’ fees “amid concerns that pet owners may not be getting a good deal”.

The market has bet that CVS, as well as rival chains such as Pets at Home, will face regulatory action. And so Aim-listed CVS, whose shares were changing hands for more than £25 apiece in September 2021, is now priced at about £16. This left the firm’s chief executive, Richard Fairman, in a strange position last month: presiding over CVS’s full-year results, he had to play down profits that he would ordinarily have shown off.

The numbers were good ... CVS’s revenues, which stem from labs for diagnostic services, pet crematoriums and an online pet pharmacy business, as well as vet practices) rose 10 per cent to £608 million for the year to July, while pre-tax profit was up by 50 per cent to £54 million..He dismissed fears over potential intervention by the CMA, claiming it was a shortage of vets, pushing up wages, that had sent bills soaring, as well as inflation.

Analysts agree, seeing the sell-off in the wake of the CMA’s announcement as overdone. Seb Jantet at Liberum said: “There is a good chance the CMA will conclude that there isn’t a case to answer …

The shares are trading at a forward price/earnings multiple of under 16 for 2023 — lower than historic averages and also throwing open the prospect of an opportunistic private equity bid.

Buy CVS.''

In general buy backs are instigated when a company generates good free cash flow and percieves the share price as cheap and in time it should provide investors with an increase in value on their holdings.....I have not seen a date when HSBC will commence the second tranche but would expect it to be imminent, particularly with the share price at current levels as they can mop a great deal more ..........in fact I added to my holding yesterday, seemed rude not to :-)

A £50 million share buyback programme (the "Programme"). The Programme will be undertaken in two tranches.

Under the terms of the engagement with Numis, the First Tranche Programme will be for maximum aggregate consideration of £25 million. The First Tranche Programme will commence today, 26 June 2023, and will end on or before 29 September 2023.

The second tranche of the Programme is expected to be undertaken by HSBC Bank plc.

Current level of committed orders outstanding totals US$1.4m/A$2.2m predominately for customer delivery during the period ending December 2023, which is up 75% on the same time last year.

CAP-XX is building relationships with large organisations through regular engineering meetings with

design teams, manufacturing groups and contract manufacturers. The process helps large

manufacturers become more familiar with the technology and can lead to potentially significant

orders and partnerships, including the potential to generate licensees. As already noted, CAP-XX is

concentrating on a small number of automotive opportunities. Specifically, it is looking to scale its

technology into larger formats for the motive industry either by partnering, entering JVs or licensing

its technology to automotive and military Tier-1/Tier-2 suppliers.

The company is now looking to migrate the 3 Volt technology into larger prismatic supercapacitors, automotive

modules, and other products for high-energy, high-power applications.

CAP-XX is still looking to put the ultrathin 400micron DMH into production before the end of the

calendar year. It expects samples to ship to customer this calendar year with production volumes

believed to ramp-up by early in the new year.

CAPMOD is a range of large high voltage modules intended to support a multitude of large

automotive, transportation and renewable energy applications such as wind farms, solar

installation

Maxwell/Tesla litigation

The litigation with Maxwell/Tesla is delayed to December and whilst the delay to the trial is

disappointing, and the costs of supporting the litigation are high, we continue to believe it will result

in a positive outcome for CAP-XX which is not reflected in our expectations. This is because the

patent has been previously upheld by the same judge resulting in a c$5m award against Ioxus.

The counter claim by Maxwell/Tesla looks, on the face of it, to be a negotiating tactic and will

unfortunately incur some costs to CAP-XX, even if it is completely baseless which is the company

opinion. As the claim has only recently been made, these costs will likely occur after the award from

the claim by CAP-XX against Maxwell/Tesla.

New CEO Lars Stegmman is now four months in, and we believe his passionate review about the business in the FY23 results statement demonstrates his strong commitment to CAP-XX and excitement about the prospects for the company. Whilst he has yet to complete his sales pipeline review, he is already making positive changes to the sales process and, combined with a turnaround in the demand for electrical components, the company has reported an increase in the order backlog of 75% YoY to US$1.4m/A$2.2m. As the backlog is predominately for delivery during the period ending December 2023, and mostly based on there month order cycles, we are maintaining our expectations which will be reviewed after the sale pipeline analysis is complete

Year-end cash of A$2.6m and net cash A$1.6m are expected to be bolstered by a A$2.0m R&D rebate before the end of the calendar year, providing funding to profitability based on our unchanged expectations.

New product launches in FY24.

CAP-XX already has a broad product offering; however, this will be bolstered by the launch of three new and potential high volume products over the coming months: 3V technology being migrated into larger products, ultrathin DMH to be launched by the calendar year-end and a SMD can early in the new year.

New CEO Lars Stegmann has implemented new sales processes and increased the focus on customers throughout the process, with an increase in direct sales including new territories, whilst waiting for larger distributors to list CAP-XX products.

- Positive trend so far but visibility still limited. Whilst the timeline for a strong recovery is not yet being predicted by the company, and that the sales pipeline evaluation process is not yet complete, there clearly remains some uncertainty surrounding expectations. However, the company is confident that the positive trends will lead to improved results in the coming months and the orderbook positions the company well to meet current expectations. We maintain our

expectations which will be reviewed after the new pipeline analysis is complete towards the end of the year and we iterate our 10p DCF-based valuation.

Andrew Austin - ''Looking ahead, we will continue to pursue rapid, disciplined growth both organically and through acquisitions for the benefit of our shareholders.”

Guidance for the year remains intact after lower gas prices and maintenance work hit the first half but surely that is not what Kistos is all about? The MIME acquisition is a rarity offering growth in a number of areas, a high quality team and significant upside which will, in my view transform Kistos, if you add that to the organic growth the market is massively missing the point on what the value of the company offers.

https://www.malcysblog.com/2023/09/oil-price-kistos-rkh-sdx-trinity-uog-petro-matad-ujo-reabold-longboat-touchstone/

Increasing Fair Value Estimate and Comprehensive Update Note

We are increasing our fair value estimate for i3 Energy to 25.6p from 21.1p to reflect i) higher oil and gas price assumptions and ii) changes to our valuation model.

• Significant strengthening in oil prices: Consistent with our expectations, oil prices have risen considerably in early 2H 2023 reflecting that demand has significantly exceeded supply

i3 Energy’s valuation is linked directly to the price of crude oil. We perceive that oil & gas companies in the public equity market have not kept pace with the significant and structurally supported increase in oil prices, creating an obvious

valuation disconnect – and a significant opportunity

We expect significant near-term outperformance from i3 Energy as the market digests and reacts to the significant dynamics that are afoot in 2H 2023

we believe investors can focus on i3 Energy’s solid dividend stream, growing cashflow and strengthening balance sheet. For reference, the go-forward dividend for i3 Energy is 1.026 pence per share on annualised basis, implying the company is trading on a generous 7.5% dividend yield – in relation to the company’s solid financial footing, we believe the

company’s dividend yield is mispriced advantageously for investors.

Based on our analysis, i3 Energy is in a robust financial situation that will further strengthen in 2024. i3 Energy, in our opinion, represents a high-conviction, high-quality, undervalued growth- opportunity that provides exposure to rising energy prices, while paying a solid dividend

Revenue increased by 17% to £11.3 million (H1 2022: £9.7 million)

· Gross profit of £6.9 million (H1 2022: £4.7 million)

Cash and investments of £161.2 million as at 30 June 2023

👍

Crude 93.8

Brent 96.7

Crude 92.

Brent 95

Added to... SQZ ⬆️✅ 239.69p...sp pulled back from 270p+ a few days ago, despite cash flow, cash balance etc. oil price etc....

https://twitter.com/surprised_trade/status/1706658927012643163

Time in the markets rather trying to time markets is a sound approach for most, anyone will do well to time this in the very short term :-)

Crude 90.4

brent 94

uk gas 101.9

Https://twitter.com/surprised_trade/status/1705123682517917708

added again, profitable, generating increasing Free cash flow, divi 8%, projects in pipeline to increase production, profits etc.

''Investors have sold shares in CVS Group and Pets at Home, listed veterinary companies exposed to the review, but City analysts believe that the sell-off has gone too far. Davy, the broker, said there appeared to be “little risk of price controls being introduced”.

Berenberg also expects any focus from the regulator to be on “sunlight remedies”, requiring better-quality consumer information and price transparency.''

Analysts expect review to be 'light touch'