Member Info for Swell2316

He’s just recited the lyrics for Dire Straits ‘money for nothing’, nothing like Quo.

Looks to me like they’re trying to give notice to shorts and those needing a nudge towards the exit when, if they had the investor at heart, they should be plunging the knife in and giving it a twist.

Just seen the oil price, it’s followed it down. I think OPEC+ may be shooting themselves in the foot with their attempts at price support. Looks like non OPEC+ , renewables and cost of living are filling the gaps. Great news for my summer holiday road trip.

If the intention of the buyback was to increase the value of the share, it’s having limited effect. They’re either shaking the tree or there is a short that refuses to follow the script. I was hoping for a rise to 145 by the end of this week, looks like unlikely now.

Watch the village idiot start with his 90s pony.

Reading the summary of the OPEC+ meeting yesterday in the FT, it’s apparent that they’re worried about oil demand going forward. Not sure if they’ll be comfortable with the ITP opening but, with some of the current restrictions about to expire, they may not have any choice but to accept it.

When is Itsarentboy going to drop his 90s nonsense.

Drinking Port in Burgundy, like drinking Lambrini in Épernay, no accounting for taste I guess.

Morningstar have a fair value price of 186.

Next buyback 90,000?

General Belgrano,

I’m afraid, until the ITP opens, it’s a hold from me, regardless of the charts. I had someone telling me a few years ago that Petrofac was a massive buy based on charts.

Cat,

This was a point I was trying to make the other day but didn’t get the message across. The buyback is sporadic at best but looks increasingly devoid of planning. They did say they wanted this complete by the AGM and the initial spurt was encouraging but, the size of the buybacks are on a downward trend. I don’t know what’s causing this pressure , I can only speculate that they were hoping for a lower price to buy? 105k then 103k isn’t having a massive effect on the SP but, multiple buys of the required 400k+ would, IMO, cause the sort of volatility that day traders and shorts feed on. I’ll admit, I’m no fan of Peel-Hunt as I’ve been burnt by their mismanagement before, I hope they don’t f*** this up.

Ponzi,

If brains were dynamite, you wouldn’t have enough to blow your nose. Jog on.

“Today, we acknowledge the swift, public response from Iraq’s Ministry of Oil”

Was their response setting fire to oil trucks? 🤣

It looks like they’re waiting for the SP to dip then fire in some cash to support it or they just want to buy back at a favourable price. Either way, the market doesn’t seem to have read the script and it’s stubbornly hanging around its current range. The run up to the AGM is shaping up to be a nail biter for anyone short here. Good luck all, I feel some good news is brewing, I have no science or int to back that up but, this foolishness has gone on a bit too long now.

I’m very much looking forward to the future buy backs, however, they seem to be dragging their feet on the purchase. I hope they drip feed the buy backs and not throw the wad at it the day before the AGM.

PUTUP

I did say it was an estimate, clearly a bit wide of the mark as for £/$, not so relevant, they’ve stopped buying, that is relevant. Thanks for your input.

I estimate we’ve spent about a tenth of the £10 million we’re supposed to be spending on buybacks, with a pitiful 150k bought yesterday, what’s the hold up?

My hopes were for the price to stabilise between 130-150 on the current plans and news then, when exports start up again move to previous highs but, it seems the froth is dying down and those with short term outlooks have given the tree a shake. Another buyback next month and I feel we’ll be in my preferred range. Be nice to hear some concrete news on the ITP in the interim. All the best.

PS as for chump still blurting pony about the 90s, clearly feeble minded given the recent company guidance.

I had always hoped it would hold steady above 130 while we wait for the tea parties to resolve the ITP issue. However, I expect this to be walked back down, 10mil is a start but they could have been bolder.

This is a P&D. It got to 130 in short order last year on speculation of a deal and this is no different. There will be no unassailable rise until there are firm guarantees of a resumption in exports. Those buying in to this will make a few quid when it drops back down. Bon chance all.

I believe the figure of 20.61 came after watching re-runs of countdown, they asked for 1 from the top, 1 from the middle and 2 from the bottom and voila, 20.61 is what Carol asked for. Utter b’lox, no change really.