Centrica Share Discussion Threads

[exel] 28/12/2017 02:10

The CNA interims this year gave the game away with 'basic earnings per share down 96% from 22.2p pet share in 2016 to 0.8p in 2017' - and that was BEFORE the subsequent GLOOMY TRADING UPDATE! Where is the investor demand to be tied up to 'this'?

[jpjohn1] 27/12/2017 19:58

Looking at the worse performing shares in the last 5 years. No other share comes anywhere near CNA, it as lost 59% , Stand chartered -49%, Tesco & Pearson -38%. I keep saying people seem very reluctant to add them to there portfolio ? Even now if I never held them, to me they look a great bargain

[nortic 007] 27/12/2017 19:26

They have traded in a very narrow range now for some time with decent volume . Can't see the volume coming from day traders because there's nothing in it so I'd like to think that some wise folks have been picking them up around these levels.

[jpjohn1] 27/12/2017 19:16

I just wish I knew where this is going, we get the same most days, up to start with then drop off badly. At this rate I'm afraid to say we will soon be looking at the £1.20s . Are we missing something here or are all the other investors looking at this company completely different to us ?? Give some views chaps

[nortic 007] 27/12/2017 19:09

I'll drink to that :)

[susiebe] 27/12/2017 19:06

Surely our patience will be rewarded in 2018.Think positive chaps,we can say good riddance to 2017 soon!

[jpjohn1] 27/12/2017 18:29

Yet again, Ft +28, CNA -1.4p, when will this company ever go up, I think this is the most unloved stock in the ft 100. Other than ourselves all other investors are giving it a wide birth !!

[careful] 27/12/2017 16:24

Poor Conn sold out energy assets at the bottom.
He seems to have admitted his mistake.
Hope he is not getting back in at the top.

Conn is a oil man.
in the psst he seems to have fallen for the hype about overproduction and the end of peak/oil and gas.

Smart operators such as Shell know that the demand for energy is growing and insatiable.
Even electric cars need charging with electricity produced by gas/oil/coal.

Share price still falling.
Hope we have a future.

[optomistic] 27/12/2017 15:19

Change of course by Conn...

"LONDON (Alliance News) - British Gas owner Centrica PLC is hunting for a second joint venture partner to further boost its oil & gas production after its deal with Germany's Bayerngas Norge AS in July, the Financial Times reported Tuesday.

According to the newspaper, Chris Cox, the chief executive of the newly enlarged exploration and production business that is 69% owned by Centrica, said it is looking for another partner "about the size of Bayerngas or a bit bigger".

Speaking with the FT, Cox said that the expansion of the oil & gas business, now called Spirit Energy, through joint ventures was consistent with Chief Executive Iain Conn's strategy. Conn has previously said he wants to shrink Centrica's oil & gas business to focus on customer-facing activities such as household supply."

[portside1] 27/12/2017 14:11

before I go to pub CONN as just over 6 weeks to turn it around or resign

[portside1] 27/12/2017 14:05

just open the window i do .

happy new year to you op OFF TO THE PUB

[optomistic] 27/12/2017 13:30

Porto I turn mine down at night otherwise I get too hot in bed, rest of the time it's on all the time...keeping warm :-)

[gaffer73] 27/12/2017 12:59

The further CNA move from domestic supply the better imo so this is good news.

[nortic 007] 27/12/2017 07:15

Centrica on hunt for oil and gas dealsUK's biggest energy supplier wants to build out production after Bayerngas Norge tie-upyesterdayThis year's spate of dealmaking in the European oil and gas industry is expected to continue in 2018Nathalie Thomas, Energy Correspondent0The UK's biggest energy supplier Centrica is hunting for a second joint venture partner to further boost its oil and gas production business after a recent deal with German-owned Bayerngas Norge.Chris Cox, chief executive of the newly enlarged exploration and production business, a joint venture that is 69 per cent-owned by Centrica, said it is looking for another partner "about the size of Bayerngas or a bit bigger".His comments reinforce market expectations that this year's spate of dealmaking in the European oil and gas industry will continue into 2018.Most recently, chemicals group BASF said this month that it would merge its Wintershall energy business with another German company DEA, which is owned by Russian billionaire Mikhail Fridman.Other major deals have included the $7.45bn acquisition by France's Total of the oil business of Danish conglomerate AP Moller-Maersk.Centrica's Bayerngas deal, first announced in July, initially raised questions about the strategy of Iain Conn, chief executive of the FTSE 100 group. He had said in 2015, shortly after taking the job, that he wanted to shrink Centrica's oil and gas business to focus on customer-facing activities such as household energy supply.While Centrica has sold production assets in Canada and in Trinidad and Tobago, it now has an enlarged Europe-focused oil and gas production business on its balance sheet. Mr Cox said in an interview with the FT that the expansion of the oil and gas business - now called Spirit Energy - through joint ventures was consistent with Mr Conn's strategy."Iain did say early on in his tenure that he wanted to reduce exposure to E&P but he didn't say he wanted to get out and he has been pretty firm since then that he likes having exposure to E&P," Mr Cox said."That's partly for balance sheet strength and it's partly frankly for exposure to commodities prices and the view that they have been low for a few years and that's not going to last for ever and why would you get out at the bottom of the market anyway?"What Centrica will not do is hand Spirit Energy a pile of money to go out and do further deals, said Mr Cox, because it wants to reduce spending on exploration and production.Spirit Energy is aiming to invest about 80 per cent of its operating cash flow after tax on "growth options", including developing new fields, while the remainder will be distributed to its parent companies as dividends.It is looking for another partner that wants to offload assets in Europe either to concentrate on lower-cost regions, or to quit exploration and production.Although many of the biggest energy companies have been looking to sell their North Sea assets for cash, Mr Cox believes some of them could be persuaded to enter a joint venture."If they [the energy majors] are interested in getting out, they could try to sell for cash today and we know a number of them have done and have been unsuccessful."[Or] they could put their assets into our JV and we'd probably save some money in the short term through synergies?.?.?.?we could probably run it more efficiently just because we'd have more operations we could spread our costs over and we can create that option over the next few years to potentially IPO or a trade sale to another investor at that point."He stresses that neither Centrica nor Stadtwerke München Group, Munich's municipal utilities company and the majority owner of Bayerngas, have yet committed to float Spirit Energy following the expiry of a two-year lock-up period in 2019, but the option is there. The Bayerngas joint venture is a "good marriage" Mr Cox said, because the German group has a number of immature assets that require development but need cash to press ahead, while Centrica's assets throw off a lot of cash but are ageing.Centrica's E&P business was likely to end the year with about 50m barrels of production as a standalone business, he said, but that is due to fall in coming years as older assets go into decline or have to be decommissioned."We started with a business that wasn't sustainable and would?.?.?.?generate cash for the next 5-6 years but beyond that was not a sustainable business. So that's what we are creating here," said Mr Cox.

[mastey] 25/12/2017 08:51

Worth a read

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[jpjohn1] 23/12/2017 08:48

Yes careful- diku CNA down 41% while the Ft up 6.5 not good, hopefully in the new year we will start seeing it 1.40 then 1.50 and upward,when it will reach £2 again is anybody's guess ?

[careful] 22/12/2017 17:47

CNA 41% down since jan 1.
FTSE100 up 6.5%.

an impressive underperformance for a boring utility.
must be a World record.

[nortic 007] 22/12/2017 13:49

Have a good one

[jpjohn1] 22/12/2017 13:23

Better day today + .8p on the week, at least it's up this week !! Have a Great Christmas all and hopefully CNA will soon be back up there :)

[garycook] 22/12/2017 11:59

Very brave man.Best of luck.

[w1ndjammer] 22/12/2017 11:55

ps: Bought some CPI this morning lets see........

WJ.