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This was bound to happen on XD. Might even see Momentum falling tomorrow below 190p.
LGEN also does the same.
Just collect the div (in an ISA) and sit back.
NAV has been dropping at a slower pace than the SP.
Discount to NAV is nearly 20pc.
Definitely need some articles in the public which hold the managers of the Trust to account.
Whilst the intrinsic stock moves the way it does influencing NAV, The discount is all due to the perception of the Managers' ability to run the fund. Which is negative.
Seakingalpha - POints are valid. The bureaucracy and ego-ism that comes with big players is what led to Macconda incident and deaths. I'm not sure if the Deepwater Horizon movie was biased against them. Schlumberger Transocean and Haliburton could well have played a part, but they went after BP.
I still believe BP, SHell, Total have some of the finest minds when it comes to the offshore projects.
In terms of onshore, HAL, Baker Hughes and Nabors are very capable. But its the money involved in developing the whole thing. From Drilling to final production following and maybe even pipelines. Does anyone have an estimate on how long it would take to get oil flowing if they got boots on the ground tomorrow and money was no object? Assuming TLW had to manage the project.
The biggest disappointment for me was Suriname. TTE at the moment is sitting on a treasure following their drill results.
TLW was unfortunate with their block yield uncommercial amounts of oil.
That would have been a game changer for TLW. BUt they landed a poor block.
Antonvb - They can laugh, but still an interest they can cite without liability.
Let me ask you this:
Show me a credible source which cites the names of the interested parties.
Seakingalpha : Total have disappointed! I agree. BUt Total or BP or Shell is what this lease needs. Tullow can't really move and the Kenyan government know it.
If TLW develops the field on its own, then Kenyan government will welcome the decision with open arms (and then probably screw them with a bill to repatriate revenues from Oil generated within Kenya).
Kenyan government has no appetite to invest.
This project will move when a Big name joins.
Do we really know why TTE walked away from this? I mean developing a field onshore is way easier and cheaper than offshore. Not sure at this moment what the quality of the oil. All I've seen is 200m of oil in one of the fields drilled in 2012. As well with 100% working interest of the fields, their 2C reserves are 450mboe+.
One East African report cited, "TotalEnergies had at the end of last year indicated plans to dispose of its stake, as doubts lingered on Kenya’s ambition to join the league of oil exporting nations."
Antonvb - I could go up to a TLW board member and say I'm interested...and that would qualify as interested party.
I have no intention or ability to buy.
When does the lease expire ?
Seakingalpha - What's the attraction of working with TLW?
They're small time.
If TLW wants to get oil out of the ground, its going to have to pay the Kenyan government to do it. TLW has no leverage.
Its got $1.7bn in debt and its desperate.
Anton : "The presentation today still stated they have multiple parties interested."
Of course they're going to say that. You'd trash your stock price if you said "No one's interested in this field. We're left on our own!"
LawrenceH
When did it last reach 300p?
It can be undervalued (which I agree), but its just a PT. Their has to be more buyers than sellers.
LGEN is a stock you bag 8pc+ yield. Don't expect growth. you might get 260p as it approaches ex-div.
Mad drop, but let's face it...they've been shafted by the Tories in the quest to appease UK population.
Bigger oil co's making more profits than HBR, but their operations are elsewhere. Hence they don't get taxed as heavily.
How much money did they actually raise with the windfall tax and what proportion of the worst offenders paid up to make a difference?
Tories have alienated Oil companies from investing in UK oil production. We'll never be energy independent if you p!ss of the private companies that have the expertise to extract the stuff out of the seabed which your population can't wean itself off.
As for renewables, Oil companies are part of the solution not the only the problem. By incentivising them to invest in renewable schemes, longer term, the population benefits. They tried to help the UK population short-term, but actually, it hasn't worked and the Tories have had to borrow more money to pay for the energy allowance.
Energy trades on the open market and should be interfered with by the government, else it gets distorted.
Cruel as it sounds, we as a population sometimes have to make hard decisions, and stick on a jumper or three, rather than feel entitled to subsidies. The Energy subsidy was offered to all households. How stupid is that! Help the people that most need it, and sadly, others have to pay a bit more. Demand - supply will balance if necessary.
Once you writedown COVID related revenue to zero, we can look at the business on normal terms.
COVID testing was always going to wane. Its whether they can use the one-time COVID money to advance their products and research elsewhere.
Thanks all.
Looks like I need to review HL as an alternative to Fidelity and swap across. Only hold LGEN and MNG as shares, and then oeics.
I have a few of Fidelities Select 50 to get a discount, but can't help notice the frequency and amount of their charges vs the size of my holding. PLUS their commission on buying/selling shares hurts.
Gotoutjustintime
Thanks for sharing.
I'm trying to rebalance one of my portfolios and my kids' ones so I really don't need to meddle with them.
They're quite young, so have plenty of time to build up their reserves.
Mine is a bit of a mish-mash with no consistency with my aim. I'm seeing the benefit in LGEN and MNG. Just don't want to be too focussed on just those 2.
SGE might be another to balance it out + a pharma.
Thing that peeves me is the high cost of buying stock in the UK.
I read a telegraph article that Fidelity was one of the highest charging providers. I'm trying to port my ISA away from them, but need to find something with the same access to funds.
Just need some time to research this.
I also have a halifax trading account, but don't like the idea of paying double fees.