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The article is speaking in the past tense- looks like it is an old photo but only recently uploaded. Good photo though!
Hi Henners,
Maybe I should clarify the nervous to 'relatively nervous'! All points you make are very valid!
In terms of nurturing a company in Russia- absolutely not. Working withing the planning and development world in the UK is stressfiul and challenging enough.
Noted on the relaxing for the weekend too- and certainly intend to. Once the fog clears in Sleepy Suffolk its looks to be a bright sunny day. Hope everyone else can do the same.
Cheers
TheEast
Morning All,
Genuine question- is anyone else feeling a little nervous that the Board have completely let this slip out of our control? It is in the Russians hands to grant the extension or not now, and presumably if they didn't, we're fooked for want of a better phrase. Major slip up on the part of the Board in my opinion on a couple of fronts- firstly they should have anticipated a delay for the reasons stated back in early spring- why wait till the dying weeks to request the extension? Secondly- this surely was price sensitive news, and thus should have been released immediately? Thirdly- an ongoing criticism from PI's has been the lack of communication from the Board which they have nodded to in the past- and this doesn't do anything to help mitigate that.
I'm 100% not surprised there is a delay, but I didn't expect the news to drop quite so late in the day, and leave the extension question completely up in the air.
On the bigger picture, assuming Russia wants to remain attractive to outside investment, I'm cautiously relaxed that they won't screw us over and it'll sort itself out and in the grand scheme of things an extra 3 months (it'd better only be...!!) is insignificant given how long some have waited for. My comment earlier in the week about it being an exciting few months still stands..!
Happy Friday All,
TheEast
Cut out the petty messages today, have a bit of respect for each other (including classic unfounded ramping and deramping/ letting us know of your alleged share dealings etc...), and form an excited crowd anxiously waiting for good news to drop.
We've all got a common aim here so let's enjoy what should be an exciting couple of months
TheEast
Morning All,
As it's a bit quiet here today, thought I'd see how LTH's are feeling now we've only about 25 working days until the chtristmas break?
Can't help but feel a calm, nervous but excited waiting game now that years of waiting could be about to take a huge leap foward.
Cheers
TheEast
Seems like a no-brainer not to offer it doesn't it. Great schemes as the customer doesn't have to worry about the hassle of renewing each year, saves Saga the cost of admin for each renewal so far more efficient, and of course hopefully encourages customers to build loyalty to the brand.
I'd like to see a focus going forwards on how the brand can be made more appealing to the younger portion of our base- that's where I see the big growth opportunity (or indeed medium-term decline).
Also would be interesting to see how the group could divest from its core product- may be into residential property as an example- John Lewis are targetting this area and the build to rent sector is particuarly interesting- as could be 'American' style retirement villages- with much more focus on leisure and living, rather than drab 'winding down' retirement living that the UK is unfortunately rather good at.
The brand strength of Saga could be quite lucrative in this field IMO.
Cheers
TheEast
Sorry, can't talk- I'm just eating a rather large portion of humble pie!!!
Close to a 20% rise based on what exactly!??
Can I have some of what you had for breakfast?
Fair point Rfarfa!
Given the volatility in the wider markets, is tempting to hibernate and cautiously re-emerge in the spring and hope my HL account still has some pennies in it...!
Did (bravely/ stupidly..!?) manage to average down quite heavily when we were in the 0.20's, but has now meant I'm slightly over-exposed on this one more than I'd like to be.
How many LTH's will have done this and can now see an exit point in the run in to drilling updates, at a price far lower than most would have considered 12months ago?
I'm well and truly on the fence, still think there is an awful lot of potential here, and even think the last drill is actually more positive than the market has priced in, but operating in such a difficult market does make me a bit nervous on getting enough interest from multiple parties to get a decent drill offer, alongside some nervousness on a fund raise on the horizon, and at what price this will have to be undertaken at.
Lots to ponder, if nothing else, likely to be a bit of a roller coaster this winter!
Cheers
TheEast
On one hand agree, on the other hand coming from a planning and development background, I'm somewhat desensitised to delays of this nature, even without Covid.
I guess a holding statement of some kind might settle some nerves, but probably not worthy of an RNS (unless the BOD are aware of negative news incoming). Maybe a LinkedIn or Twitter update just to remind people of the project and its benefits, with a 'this is where its at in the process' would be useful.
Seems that this means we'll only have received one interest payment from the CLN's now. Lets hope they turn to profitability sooner rather than later to pay divis or AMC will be looking for additonal funds from somewhere very quickly
Very true- but it has huge significance in changing our resource in the ground from not commercially viable to extract, to making a lot of money by extracting it. Based on current prices and 'curretn' resource in the ground- we are still not viable as things stand.
A 500% rise before year end is a tad bold!
Interesting one. The state of ship-building is such that I expect there often little to no profit in ship-building, and even when there is, these are more 'bonus' projects, whereas actually the less glitzy work such as maintenance provides the base-flow to keeping a yards overheads maintained.
The UK procurement strategy for ships has been woeful for decades- so really hope now there is renewed focus to get Britain building ships again- the state of our industry compared to our European competitors is shocking- yet we have proven we still have world-class capability in delivering the QE class aircraft carriers. Time to make us a proud maritime nation and put H&W Belfast and Appledore at the forefront of this renewed drive!!
This aside- hopefully we can see a healthy combination of building alongside repair and maintenance!
Morning All,
Also disagree with 0832.
I've taken a massive hit on this one, so firmly in the underwater camp. However, I do try and stay objective. 88E is a junior aim explorer operating in difficult territories. It was always a high risk high reward (or loss) for these very reasons. If commercial oil was so certain, we wouldn't be a junior explorer on AIM would we..!!
I absolutely get the disappointment and share it, but there is still significant upside potential from this level, but of course it is just potential. Future drills will provide some, and I haven't completely dismissed condensate having some commercial potential.
That said, there does at last seem to be a little movement on this and it would be nice to get past the lowly 0.30 barrier for now!
Cheers,
TheEast
Morning All,
I wouldn't get too excited by possible development potential. Values in this part of the world are low, likely that much of the land is heavily contaminated and therefore expensive to develop, is (hopefully!) next to a busy shipyard and in an area typically devoid of decent employment opportunities.
It is also very possible that the land has an overage, so if residential development is realised then a chunk of any uplift in value goes to Bab****.
For me, the land is far more valuable as a shipyard and its associated facilities!
Cheers
TheEast