Member Info for Tornadotony

Removes a spotty teenager hiding behind a sofa somewhere that writes garbage on LSE website.

Lost from market. Annoying this website.

Both in Serica and Tullow. Release of reserves barely covers what has already from market. Days away from entire fields being shut down with nowhere to store. War is not going the way USA had hoped for.

Https://www.londonstockexchange.com/news-article/JLP/high-grade-feed-secured-large-waste-rock-update/17499149

The original agreement mentions the company were to do some FEED work themselves in specific areas. The main aspect was paying for a work up of the financing arrangements which is not a trivial thing to do. The purpose of the monies raised by the RNS was not the issue. The company has done things as they have done previously on what the AGM allows them to do.

As the project progresses, shareholders may want to have a say on how they may be diluted and whether the terms are equitable by opportunity for all to decide how they can manage a dilution on a very significant fund raise.

Apologies for some repeat in previous.

Quite often an equity raise is based on an average of past history data. The average price between 12 December until 10 March was 7.25p. It was not at a modest discount but a very significant discount. The insiders are showing behaviour of this being a private project private rather than respecting the ownership by other shareholders. On this occasion they have got away with it as they can reference their conduct as being approved by an AGM vote. It is now incumbent that we insist that we have a representative invited to represent external shareholders at the next AGM in the channel islands or in London. We also want to see all the motions being voted on well in advance and we have the right to vote against measures that serve insider interest against the interests of all other share holders.

Humbo rubbish all in the filter green box. It was like walking into a gents toilet that is completely blocked up and the plumber fixes it with the filter.

Https://www.londonstockexchange.com/news-article/RBW/mosaic-agreement-and-uberaba-economic-assessment/17496976

The issue with oil is that it is used to produce so many other materials that impact every day life. If you walk into a hospital, you see engineering behind everything. Without engineers doctors and nurses only have medicines, potions and shake one's bones. They have no diagnostics infrastructure and kit, limited therapeutic intervention and virtually nothing for rehabilitation than one to one physical interventions. Oil is a component that materially exists in the blood collection tube. It exists in formulations of most medical implants fitted into a human body as a second simple example. Without oil we do not have biocompatible materials of known quantities and qualities that are safe to use. It would take a generation of research to replace everything in the multitude of healthcare pathways for it to be free of carbon and what ever is created from oil. It is not only in healthcare we have these issues as they surround us in many other ways of our living. The government is correct in support greener energies as global populations rise and we need greater energy security. It is naïve however to estimate the length of time to replace oil products and its material impacts that we take for granted. We therefore may need such oil resources for many years to come. Net zero is not the real answer, but net less carbon from a base we were using before is far more realistic on what is achievable and beneficial overall to our quality of life. It is about realistic timing of replacing products and markets and doing so on practicality over political dogma.

Must be an institutional buyer taking a stake. The sell volume is actually higher than buys and yet the ask keeps going higher. It is the only explanation left that I can think off. Now best performer in my portfolio. BRES moves to second place.

Took profits from Tullow this morning and taking positions here. Ghana government is worse than Norway and UK to deal with.

$10 Brent rise is $40M in free cash. Free cash flow average future price has increased by the equivalent of $3.1 since 1 January until today as a result of the Iran war. Pre war $66.8 1 Jan to 27 Feb and with the war dates it is $69.1 from 1 Jan to 10 Mar.

Looks like they may have agreed to releasee 300M barrels released from strategic reserves. Around 25% of total reserves held by G7. Around 3 days of global consumption. If we assume 20% is off line it would cover say 15 days. The war has cut off supply for around 8 days. So a week of keeping the markets reasonably supplied. International reserves would need to be replaced later on. They still need to get tankers in the correct ports to sort things out. Prices may stabilise where they are for now. BP and a number of shares did not go to the races today. Still need to see how prices go overnight.

Lee a profit is a profit. This share is so volatile that if you jump on it at the right time you can milk a penny.

Just need Ghana to find $36M pay back asap and we can get a new well maybe 2 up and running for Q4. They would get the money back if production rebounded. In the meantime we head towards the Asian markets opening.

Fulmar,

Of late, every time I put something that is a possible risk to consider the price of the share goes up 0.5p.

Tony

Is unlikely to happen (advert interference)

Only two ways to reduce oil prices.

1. Demand destruction which takes a lot of time and is achieved with high oil prices.

2. Increase oil production to meet the unmet demand.

Manipulating future oil contracts does not work. Everybody knows, but they are doing it anyway. People use and consume oil. They can store it but that is unlikeltto happen. It is not like gold that gets put into a safe somewhere and manipulated by futures as to whether to take options trade delivery or not.

Interesting to see how this manipulation plays out. I suspect it may fail very badly. We shall soon find out.