Member Info for Undercrackers

@Stille I'm inclined to agree. Castlelake are trying to act like Billy Big Balls by threatening to go hostile. But the shareholders, I believe, recognise that what Castlelake are offering is still a low ball. They simply can't afford EZY, without leveraging a stack of debt and praying that the legacy low performing sp will be enough to convince people to sell. I'd be very surprised if this deal comes off in the next week.

And that's why you aren't the CEO ;-) ... selling at £6 a share is giving it away and offers no value to anyone but Castlelake.

Interesting article. Thanks for sharing.

@DRCed Of course she has. Apart from illegal immigration, Labour have turned every meaningful stat south!!! Annoyingly, it was predictable too!!

@Badvoc would be nice to see the sp approach 500, but honestly, think there is more chance of Red Ed falling over and banging his head and reversing his woke green agenda than BP hitting ~475. We need activist investors like Elliot Management to start turning the screw on the board to increase oil production, sell Castrol and leave the LSE before we see the true value of BP compared to its peers. Probably the most frustrating stock out there at the moment... so undervalued, but happy to take the divi each quarter.

Can you imagine constantly looking at your neighbours with envy yet failing to realise it's your own insanity that is causing the problem... Red Ed is a b£ll end. The sooner he and his woke cronies do one, the better.

https://oilprice.com/Energy/Energy-General/North-Sea-Oil-Booming-in-Norway-and-Doomed-in-the-UK.html

IMHO Murray is OK. He's trying to change the business, but OK as the CEO of BP isn't going to be good enough. I agree, they need a bigger and stronger CEO that can force change at pace. It should not be languishing so far behind the other oil majors and still has the feel of an 'Old Boys' culture. We need an event like when Hanson tried to buy ICI in the 80's that changed the course of the business, and AZ was spun off. Elliot Management need to start ruffling a few feather and causing a stink with the current board.

I feel your pain Macca2308... unfortunately, the quickest way I see the sp increase in the current market would be to ditch the overly regulated LSE and list in the US. I've said it before, BP owes no loyalty to the LSE, based on 'Red Ed' and his woke and, quite frankly, hostile position taken towards the Oil industry. He and his cronies haven't a scooby!!

QQ ... Why does BP remain so loyal to the FTSE and London? We have a government that despises anything related to fossil fuels. Ed Miliband, in particular, seems completely clueless and is taxing the nuts off everything associated with the North Sea and energy profits.

It’s interesting that during the cost-of-living crisis, companies like Tesco and Sainsbury’s reported record profits while insisting they weren’t profiteering — yet there was no windfall tax on them for those gains.

As Auchincloss continues to talk about delivering better value for shareholders, why doesn’t BP simply pack up, move its headquarters to the U.S. (Houston, perhaps), and relist on the NYSE, giving a two fingered salute to Ed and his comrades?

@cricketer... I know. It's bordering on being pathetic. I can't see anything in the news to reflect such a sharp sell off, other than profiteering from the increase in sp last week. So frustrating.

Sleazy Easy... EZY for sure. Low fuel costs. Packed flights. Ryanair struggling to get Boeing planes. Ezy got more routes and more A321 that are more fuel efficient, longer distance and 220 passenger capacity. Amazing value and strong buy rating. Fill ya boot, but obviously only my opinion and is not advice (LOL) - Downside, bloody French and Spanish Unions doing their annual strikes for more pay and disrupting flights.

Good... glad he stepped aside now. Clearly, he doesn't have the appetite or confidence to take on the task of restructuring the company. It's time to go back to putting the right jockey on the right horse rather than sticking a national winner on a donkey. BP needs sorting. Auchincloss is trying, but again, was part of the decision making process of Looney, so whilst trying to pivot BP away, cannot or will not get a handle on the bigger problems. BP has so much potential. The problem is, it always has, and now the hawks are circling as enough time has been given.

@Espri2022 I agree, customer service should not come at a cost, but the Unions are very bullish at the moment. They want a staggering 10% pay increase for flight crew, that's on top of yearly inflation-busting increases and some that have been backdated too!! Modern day Unions pretend to be only interested in the staff's wellbeing, but ultimately act like an Endoparasitism. Plus side, flights are packed and people are spending money on the flights. And the goods on sale, for a budget airline, are exceptional. Onwards and upwards!!

Interesting article around BP as a business and why a takeover may be wishful thinking... https://www.oilandgas360.com/devils-in-the-details-why-bps-debt-may-deter-a-buyer/

Apologies if you've seen it before.

@David1960... the fact that other stocks have risen since the Trump Tariff clearly means it's not Trump that tanked the sp. You can blame him for many things, but the demise of BP is not his doing. BP has been run like a left-wing woke business with a legacy headache from Looney 's stupid policies (clearly got carried away by his ego and other body parts being massaged... allegedly). A new CEO has helped, but the culture is meandering, slow, and undynamic. The US must look at it and laugh. Elliot Management is right to want change. IMO, we'll stay like this for a while, especially with a subdued Oil price. Take the divi and wait another day...... month........... year....................

@Jeffrey1979 The problem with any potential takeover is the current stance on Energy Security from the government. Would they realistically allow BP to be owned by a foreign interest? BP NEEDS to drop, or at the very least, curtail this green agenda. It's damaging the SP, the company's reputation, and big investors are getting frustrated... if it doesn't change, I wonder if they will try and force a change. BP is so undervalued at the moment, it's ridiculous.

A lot has been spoken about certain companies holding a short position on EZY... sorry if this is a stupid question, but is there a website where you can see who holds a short position on a stock? How do you know it's BoA? I saw a few posts last month regarding Qube... curious to see the source for EZY and potentially other companies, if indeed, it's available. Thanks in advance.

Why make it illegal just in the UK? If you remove short selling from the UK, then trades will be made overseas. London is already under fierce competition as a leading Global Financial center, this would surely weaken it further. Like the idea though, short selling is a pain in the proverbial :-) Have a good day.

Finally, the Unions have agreed on a new pay deal with staff... they get a whopping 20% increase on their basic, a 3.25% increase on their sector, and a one-off payment of £1,500 if they started flying before 1st Jan 2024. At least a costly strike has been avoided and makes EZY a very attractive employer of choice compared to Ryanair!!

@NuckyT... I share your frustration, but then I hold BP shares too and they are massively underperforming the O&G sector. There are so many factors at play at the moment, local, regional, and global. Added to that, we are in an election year on both sides of the pond, where the Republicans will probably win in the US, and Barmy Starmer in the UK. However, compared to many FTSE-listed companies, EZY is in a great position... healthy balance sheet, increased passenger number, new routes, share buyback, dividend, new planes ordered, strong holiday business, and back in the FTSE 100... and we aren't even in the summer months yet. I have no doubt EZY will start to show consistent SP increases soon, just need to remain positive and have confidence in the company... if you can, buy more at these crazy low prices as it will climb soon. Obviously DYOR, but hang in there. Frustrating, massively, but it will come good.