Member Info for Temple_of_Doom

"Seplat Chairman, Dr. A.B.C. Orjiako Steps Down, To Exit May 2022"

These guys don't like being pushed, and look to get even .... in my opinion,

Technicality always an issue .... Seplat should simply tear up its agreement to supply gas at a fixed price to local Nigerian folk in that case, and sell LNG to the EU.

No cherry picking ..... springs to mind.

A case of sell the rumor buy the fact .... 116 was the best I got today .... bought two lots back today GLA

Damofari … You are probably correct …. But this is a market where selling first ask questions later prevails.

That said, I bought half what I tried to buy this morning at 120p rather than 122.5 … at the end of the day … £ is down 10% from last year, and oil up 20% … and if 120 support goes, then things become interesting.

GLA

I wasn’t keen on Seplat skipping the February dividend to help pay for the mobile assets … as my assumption.

But read the correspondence …. National Interest in being taken over by a Nigerian as opposed to US oil play?

That’s rubbish.

To think the MMs refused to sell to me at 122.5 this morning.

Silly boys.

Reads to me as though one backhander was bigger than another.

Makes our government almost look honest.

“Based upon trading volume” …. Looks like a crude guess to me. Professional shorts hold for months.

"why the sp is still stuck at 2019 levels, rather than making new ATHs in this super-bull market for O&G producers?"

Shell is still at 2019 levels. Seplat is an oil play until 2023/24 when local Nigerian gas prices will be based upon supply/demand with export possibilities at world market prices rather than a fixed government contract.

The price is where it is because of a weak £ (positive) , Nigerian risks thefts etc, Ukraine war ending, Iran coming back on line etc etc etc. are negatives.

Shareprice could go £2+ or back down to £1 -

Place your bets take your risks ... I've cleared again .. but I've done very well out of this share since 50p back in May 2020 ... so no complaints.

GLA

Think of all those folk on fixed return annuities …. They will be stuffed while annuity providers can just put that money in the bank if interest rates rise …;)

“Safe”? High commodity prices, high inflation and high interest rates is not a good mix for house builders …. Especially id recession looms and repossessions occur, leading to over supply and house price falls …

… that is the risk going forwards.

"Another factor is that buys exceed sells on HOC. "

All this means, is that an institution or hedge fund is selling shares to retail investors via the MMs .. and retail investors are buying into a falling stock.

Easy to forget how vicious markets can be on the downside.

The UK had a party on North Sea oil …. it pretty much ended in 2006 as UK became a net oil importer as the first significant hit to the £ back in 2006.

Going forwards … 4% hit to UK GDP because of Brexit as explained on Peston last night … the cupboard is bare while the nation is being held to ransom by a bunch of nutters in Ireland with recession on the cards.

Doesn’t look good and that’s being positive … so I’m staying clear of £ earners as I have done in the mainpart since 2016.

The UK government’s hand are tied with both UK and world constraints, but ultimately they were elected … so one can only blame the electorate.

Seems to have support at 119 … put a little toe back in …

Bailed yesterday in profit for pennies … sanction risk too great

pay == earn

... a 50% haircut is fine by me ...... I have enough of these ..... but with the state of the UK Economy I'll keep to investments in UK that pay in anything other than £'s .. for the mainpart.

Brexit-CV19-Ukraine and a Tory government.

The 1970s needed Labour to pull it out of the Edward Heath mess.

The problem is leverage on home loans and the next recession coupled with mass repossessions.

That said, Brazil ETFs down 6% today so grabbed a few this morning.