Capricorn Energy Share Discussion Threads

[xxnjr] 12/4/2022 11:59

It's early days but CNE's existing Egypt production (if it's anything like Apache's) ought to provide years of steady production, growth even. The exploration blocks are a bit of an unknown quantity..... those could go either way. One concern could be Egy.GOV getting behind the curve with late payments due to Ukraine effects (high oil and grain import prices for Egypt).

It does seem CNE have set the bar too low wrt share buy back.

[dunderheed] 12/4/2022 11:08

I know - to be honest - I have heard from "industry captains" before referring to their previous strategy at the time - as a bit "suicidal" but again it came through - from memory with Senegal - the rest was dry (I think) though but - they still "succeeded" adding value for share-holders - as they always seem to do?!

I've got to admit I don't like their Egypt acquisition - even though it was about three times better than PHAR's!

All IMHO and DYOR folks!

[oilinvestoral] 12/4/2022 10:11

DunderheedIf you read your post again, I think you'll realise that you've answered your own question...

[dunderheed] 12/4/2022 10:02

YasX why not a fan of "management"?
They seem unorthodox and a bit scatter gun but, they always seem to deliver for share holders, IMHO.
I do watch from afar and get concerned that they "seem" to fly on the seat of their pants but again, they always seem to pull the pan out of the fire??!!

[nigelpm] 12/4/2022 07:52

No buyback yesterday - still holding to £2

[yasx] 11/4/2022 23:15

Small points -I doubt short term traders are of any interest to the Board of CNE, and for longer term investors it surely is of benefit to them if the Board pay less not more for the shares they buy as part of this buyback.

I am not a fan of management, but it is sensible to buy the shares as low as possible - it means you spend less to achieve the same objective. Common sense really...

[silverstone1] 11/4/2022 23:11

I'M MORE WORRIED THAT THE BUYBACK PROGRAMME IS STILL CAPPED AT 200P BECAUSE IT MEANS CNE AND THEIR ADVISORS THINK THEY CAN BUY AT LEAST THE FIRST 12.5% TRANCHE OR $25M WORTH OF SHARES AT 200P OR LESS, WHICH IS WHY I'M EXPECTING BAD NEWS AT NEXT MONTHS AGM OR BEFORE, WHAT ELSE CAN IT MEAN?

[silverstone1] 11/4/2022 22:35

YAZX, I'M AWARE OF THE RULES, BUT IT LOOKS SUSPICIOUS WHEN ONE DIVISION OF BARCLAYS BUY A DECLARABLE HOLDING, WHICH WAS PROBABLY EXECUTED BEFORE ANOTHER DIVISION OF BARCLAYS ISSUE A 285P INCREASED PRICE TARGET AND WOULDN'T BE THE FIRST TIME DIFFERENT DIVISIONS HAVE COLLUDED! IS THIS COINCIDENCE OR COLLUSION?

[nigelpm] 11/4/2022 16:39

Quite Yas - should be a good one to trade.

[yasx] 11/4/2022 16:33

Re CNE - Anything below 200p will/should have limited downside in the near term given the buyback.

[yasx] 11/4/2022 16:32

No, it is not - if you were a broker as you claim (not a call centre operative at one the execution only high street providers) you would know that different divisions have strict demarcations.

[silverstone1] 11/4/2022 15:00

BARCLAYS DECLARED A 6.4530% HOLDING, JUST ONE DAY AFTER THEIR 285P INCREASED PRICE TARGET, IS THIS A CONFLICT OF INTEREST?

[anley] 11/4/2022 14:34

LOOK to the FUTURE.........

[oilinvestoral] 11/4/2022 14:10

It has been "wasted" relative to the multitude of much better endeavours it could've been used in!So far, the market seems to agree with most of us on this BB that the 500m that has been taken off the balance sheet to "purchase CNE assets" wasn't money well spent! Anyway, this little debate isn't going anywhere and clearly "the lady is not for turning" LOL! So let's not clog up the board and let's just agree to disagree as usual LOL

[nigelpm] 11/4/2022 13:53

Final point. No I don't misunderstand at all. I even agreed that there would have been other ways to add value. I'm simply arguing with your point that the cash has been wasted - that is absolutely drivel.

[oilinvestoral] 11/4/2022 13:32

You seem to miss-understand our point that the cash could've been better spent doing any of the following things:1) Buying another company or new assets and therefore diversifying away from Egypt 2) Regular quarterly dividends3) special dividends4) A standard on market buyback that props the share price/ that isn't convoluted or has has millions in advisory fees! You can lead a horse to water and all that ! LOL! Share price now 202p ! The only people who are laughing are the guys who managed to sell at 223p! Anyway I'm done discussing this with you ! You always seem to know best! Never wrong! We're just banging our heads against a brick wall!!! BYYYYYYYYE

[nigelpm] 11/4/2022 09:55

I'm just making the comment and you are particularly good at it that people like to always assume they are better than management - reality is you probably aren't.

[oilinvestoral] 11/4/2022 09:49

"I don't really understand why people always think they know better than the board"-------LMAO! Because management teams get it wrong A LOT! Because they are looking after number 1! Because there are a lot of companies in the FTSE graveyard because of horrendous BOD decisions and shocking Capital allocation decisions! #InManagementWeTrust #CapricornTillTheDayIDie

[nigelpm] 11/4/2022 09:42

When this all plays out whichever option they'd have picked will turn out marginal I'm sure. The idea that they might have bought back 1/3 of the share register lower than 220p is bizarre. I don't really understand why people always think they know better than the board. It's a strange place to be.

[nigelpm] 11/4/2022 09:06

Blackrock also having to adhere to ESG mandates. These institutions must be sat there internally fuming at selling at below EV in the tender offer - such is life.