Harbour Energy Share Discussion Threads

[dandigirl] 06/5/2022 14:51

New York opening?

[mickinvest] 06/5/2022 13:23

Suspicious rise, loose lips during the Friday lunchtime pint?

[money mad] 04/5/2022 12:20

Anyone feeling this is being held back for some reason right now ?

[my retirement fund] 04/5/2022 09:19

..................in the meantime, the region’s cash-machine producer will continue to thrive.

[my retirement fund] 04/5/2022 09:13

Exactly! Tolmount will be one hell of a cash machine I should think operational its being ramped up by the day, we should get some flesh on the bones with news due shortly, possible in next week or two. Going by BPs numbers we could see some fireworks. I was a little miffed at HBR's muted reaction yesterday but certainly a buying opportunity ahead of the next update.

[heialex1] 04/5/2022 08:46

How much gas does HBR produce, and how much will it produce once Tolmount is up and running? Should generate huge amounts of cash

[my retirement fund] 01/5/2022 14:32

free stock charts from uk.advfn.com


Long term downward channels eliminated, first likely level of medium term resistance looks to be about 694p

[wbodger] 26/4/2022 13:51

I agree dandigirl. Perhaps they are embarrassed at false starts and reserves downgrade. But the article linked at least gives hope that the negative headlines about Tolmount may be behind it. Not sure it was ever a good purchase by PMO, but that is hardly HBR's fault. At least the recovery in gas prices will help.

[dandigirl] 25/4/2022 18:37

thanks patience: HBR should have announced this.

trading and operations update due 11/05. more then, perhaps, if not before.

[elsa7878] 25/4/2022 15:23

Can't see it all being done in debt - will have to be a cash element even with other co-investors.

[patience a virtue] 25/4/2022 14:40

hxxps://uk.investing.com/news/stock-market-news/harbour-energy-starts-production-at-tolmount-gas-field-in-north-sea-2631946

[heialex1] 21/4/2022 21:14

Largest player in the North Sea yesBut I can't see any well priced acquisitions with oil at these prices. The time to buy assets (and shares) is when prices are low

[anley] 21/4/2022 18:06

Good news on the new shareholder.

Perhaps he thinks that HBR is now the largest player in the North Sea and as such could quite easily mop up a number of smaller players for either cash or shares or a combination of both.

Deltic Energy for its gas licences some of which are near CNE's rigs and even SQZ. IOG will eventually go to Warren Buffet but that still leaves a few others that are in need of capital and management.

We are in need of a secure energy policy so why not have a focal consolidator.....game on in the City for those that have an active brain.

[bomfin] 20/4/2022 16:48

Thanks Puzzler2

[puzzler2] 20/4/2022 11:48

bomfin - in the capital section of the balance sheet there's $6.3bn shown as "share premium" and "merger reserve". Unlike the profit and loss account, these reserves are non-distributable. The capital reductiion is in effect a book entry moving the $6.3bn to profit and loss account and thus making it avaialable to used for the payment of dividends. All straightforward and a routine Companies Act permitted procedure, subject to shareholder approval.

[bomfin] 20/4/2022 10:54

Eye off ball here. Busy. Anyone able to explain the capital reduction to me and the $6.3 billion figure.

[my retirement fund] 19/4/2022 12:06

Notification of a new major shareholder aboard: Coller Investment Management Limited

[my retirement fund] 13/4/2022 19:51

Yes, they have a lot of scope to start performing the planned share buy backs, lets hope they get doing it quickly whilst the share price is still so badly undervalued and lets hope the market remains weak or perhaps Singapore trustees will agree to sell their remaining stake cheaply to us !

[spacedust] 13/4/2022 19:47

6.3bn yikes. 10ppunds tomorrow

[my retirement fund] 13/4/2022 19:47

Its just house keeping, paying a dividend exceeding capital value of the shares in the companies share premium account is a problem, don't ask my the technicalities but seen it lots of times in the past when a company transitions to an income paying stock so often needs to apply to the court to cancel them or perform some other accounting slight hand with them.

[dandigirl] 13/4/2022 18:04

More good news, it seems:

Proposed Capital Reduction: The proposed capital reduction, if approved by shareholders, would create additional distributable reserves to support Harbour's stated $200 million per annum dividend policy and provide flexibility for future dividend payments and/or share buybacks.

[oilretire] 13/4/2022 17:35

Anyone like to explain this in plain English??The process comprises: (i) the cancellation of the entire amount standing to the credit of the Company's share premium account (the "Share Premium Reduction") and (ii) the capitalisation of the entire amount standing to the credit of the Company's merger reserve by issuing B ordinary shares in the capital of the Company and the subsequent cancellation of such B ordinary shares (the "Merger Reserve Reduction"). The Share Premium Reduction and the Merger Reserve Reduction together comprise the "Capital Reduction".The Capital Reduction is conditional upon the passing of the resolutions set out in the notice of General Meeting by the Company's shareholders, as well as approval being obtained in the Court of Session, Edinburgh (the "Court").It is expected that the Capital Reduction, if approved by shareholders and confirmed by the Court, will create additional distributable reserves to the value of $6.3 billion.

[anley] 13/4/2022 15:50

If the rumour is true and the Chinese want to sell their UK North Sea assets then I am wondering if the deal of the decade could be on us?

Harbour to buy the 43% interest in the big BUZZARD field owned by CNOOC.

[my retirement fund] 13/4/2022 12:10

Absolutely no point in thinking in terms of old money, this is a very very different company now !