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They did say it was inline with expectations on an RNS about board changes

And that's ignoring the fact that the trucks issue is temporary. Trump likes construction and lack of concrete hits the whole sector.

I doubled my stake because of that, selling Eurocell. But looking at the RNS history for Tclarke it might be a while before any putative takeover. Regent first started buying Tclarke in 2018 and didn't take it over until this year. They picked it in part because of its exposure to data centres. Looking at the chat history for Tclarke it sounds like there were some short term problems with contracts, perhaps analogous to SOMs problems with trucks

I dislike Trump as an individual but I do believe that he's better at his job than most people. Isolationism means not civilising other people (or liberating them, stabilising them or subjecting them to human rights). Hurting a handful of American blacks and mexicans is worth it if it means the US getting out of the middle east and hopefully Africa

I've filed it with iweb. What issues did you have with them?

That or FID goes against us in 24. Maybe they've decided only to keep trying to get funding until the end of the year

But we wouldn't get the cash, they'd spend it keeping the company afloat for as long as possible so that they keep getting salaries. It's all or nothing.

It's sold as equity income yet we keep throwing money at buybacks while yielding no more than the FTSE 100. Either increase the dividend at the expense of buybacks or rename the trust

This comes up at presentations and we get non-explanations about liking the current shareholders because they understand the company

Article split in two. Read my lower post first

It told The Telegraph it supported the scheme, despite the contradictions with UK policy.

Asked how it reconciled its plans with the Energy Secretary’s stance on new oil and gas projects, the Falkland Islands government stressed its independence from the UK, adding that no direct conversations had been held with Mr Miliband’s department since early July.

A spokesman said: “We completely appreciate the UK’s stance on climate change and understand their position on prohibiting any new hydrocarbon licensing within the UKCS [UK continental shelf], while existing licences are honoured.

“The matter of development of the natural resources of the Falkland Islands is a devolved matter and is for the people of the Falkland Islands to decide.

“Given the UK’s robust and continued support to uphold the Falkland Islanders right to determine their own future we would expect this to extend to our freedom to choose whether or not to develop a hydrocarbon industry, subject to all of the appropriate checks and balances.”

The Department for Energy Security & Net Zero declined to comment.

If developed, the Sea Lion field, which lies 150 miles north of the South Atlantic archipelago, is predicted to generate £4bn for the 3,700 Falklanders over the next 35 years, equivalent to around £1m per islander.

The eventual amount could be much higher, with Rockhopper Exploration saying the basin could eventually yield 1.2bn barrels, with the discovery of another field nearby.

The Sea Lion field is likely to be highly profitable because it lies in waters that are relatively easy to exploit, being only around 500 metres deep. The field itself lies under another 2,000 metres of rock, also considered easy to reach using modern drilling technology.

It means the oil could be extracted for as little as $25-$30 a barrel – significantly cheaper than most North Sea oil fields, according to Rockhopper.

The field will also last much longer than almost any of those in UK waters, raising the possibility that the UK may one day be importing Falklands oil to power vehicles and for raw materials.

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Falklands risks diplomatic row with Britain over plans to drill huge oil field

UK powerless to stop overseas territory from extracting 800m barrels of oil

Jonathan Leake

28 September 2024 8:00am

The Falkland Islands is poised to approve a vast oil field in its waters in a diplomatic challenge to the UK and the Energy Secretary Ed Miliband’s anti-fossil fuel policies.

Rockhopper Exploration, the company which is seeking to commence drilling at the oil field, said this week its “view remained unchanged” on the Sea Lion basin, which holds at least 800m barrels of oil, making it larger than any project in the North Sea.

It sets the stage for a clash between the British Overseas Territory and the UK after Mr Miliband placed a block on all new oil and gas licences in July, just days after taking office.

Britain is unable to prevent the Falklands from exploiting oil reserves because it is outside of the jurisdiction of UK ministers. The UK is responsible for foreign affairs and defence in the Falklands but the British territory governs itself.

However, just last week David Lammy, the Foreign Secretary, whose department oversees the Falklands, said: “Action on the climate and nature crisis will be central to all that the Foreign Office does.”

Falklands' oil field far bigger than any left in UK waters

Bar chart with 1 bar.

Capacity, barrels of oil

View as data table, Falklands' oil field far bigger than any left in UK waters

The chart has 1 X axis displaying categories.

The chart has 1 Y axis displaying Values. Data ranges from 0 to 0.

End of interactive chart.

The Falkland Islands has already rejected the UK Government’s requests to ratify the Paris Agreement on climate change, where countries commit to cutting their fossil fuel emissions to keep global temperature rises below 1.5C.

The EU and more than 190 other states have signed with Iran, Libya and Yemen among the few countries which have refused to take part.

Asked how Mr Lammy viewed the Falklands development, a Foreign Office spokesman said it would offer no financial support for such a scheme.

“As the Foreign Secretary set out in his speech on the climate crisis last week, we are resetting the UK’s approach to climate and nature by rapidly delivering new more efficient ways to reduce emissions,” he said.

“Since 2001, the UK has ceased financial support for the fossil fuel energy sector, including in its overseas territories.

“The natural resources of all UK Overseas Territories belong to the individual territories. Exploration of natural resources on the Falkland Islands is a matter for the Falkland Islands government and the private companies concerned.”

A public consultation on the Sea Lion oil field held this summer is thought to have garnered widespread support from the islanders and a final decision now rests with the Falklands government

Som lists hacking as its biggest threat. I'm guessing China uses a lot of copied machines, just like most of its software is pirated

I've just bought £2,400 at 385. I plan to increase

My reading is that the concern is more about what the board does with the money when they do get it. The money could gradually disappear in salaries while nothing much else is achieved or they might sell the debt for half its face value if they're desperate for cash

They contract with each customer to provide ongoing training and maintenance. I have no idea about the terms of that contract e.g. whether the price could be linked to inflation, but I don't think that's the norm.

This looks good value. I just have a couple of concerns. Isnt SOM very vulnerable to inflation due to its model of using ongoing contracts? Will advances in robotics make ultra smooth floors unnecessary? Also I know that Leadec is struggling. That's a very different company in many ways but it does have a similar customer base and it's seeing below inflation rises in contract prices, refusals to sign long term contracts and threats of industrial action. Overall I'm liking SOM for its p/e, its margin, the way it handles cash and its exposure to the dollar. I'm probably going to invest about 5k

I just found this company on a screen and I've been trying to figure out what plant they own. The reports just call it 'Chennai'. None of the Wikipedia entries for Chennai plants say they're owned by OPG. The company seems to have loads of subsidiaries with very generic sounding names. Why all this complexity and ambiguity over a solitary power station?