Harbour Energy Share Discussion Threads

[luckyjoe999] 25/6/2022 10:14

“Nigeria Says OPEC+ Has Little Spare Oil Production Capacity”:

“‘Even Saudi Arabia’ is running out of room to produce more”
“Sad that Nigeria didn’t fulfill quota: Minister Timipre Sylva”

[dandigirl] 25/6/2022 01:51

Andy - Have another to make it 4! Surely a record now.:)

[andypop1] 24/6/2022 21:51

74,
Let's hope you are right regarding the disclosure and instead the numerous PE holding companies are holding out for a takeover to cash their chips in. It will be good to know what Harbour North Sea Holdings reports for year end 2021, 2020 they had $484m non-current assets, if those assets become current the accountants will consider them liquidable.

Dandi,
My post to you got three thumbs up which is unheard of, I think the irony in my post of chasing the next pot of gold was lost on some but not you.

Alex,
A question, would you prefer the share price to be 75% higher than today's price or wait for the unknown impact of the company buying back at the current price?
I think we all know the answer.

Good luck everyone.

[heialex1] 24/6/2022 18:12

The good thing about the depressed share price is that the share repurchase is more impactful. Rather spend 200m at 350 rather than 600. The ultimate benefit will be larger

[brazilnut1] 24/6/2022 08:48

£6.50 eh ? Most on here could be dead. 😂

[onlylongterm9] 24/6/2022 08:05

Brent is nicely trading at ~$110+ and has incredibly been $100+ all of this year, anything above $80 is pretty good here and even $70+ works fine, although, PoO is still forecasted by many to be circa $140+ by Q4 due to extremely tight supply/demand fundamentals.

[dandigirl] 24/6/2022 06:51

Oh! Andy - I know I need not concern myself as come August I will be finding that pot of gold at the end of your rainbow. You promised, right?

Seriously, I have been following your posts for many months [years?] now. You have been right for much longer that the most of us here have been wrong. But hopefully, soon, the day will come when all those sellers are done and gone. Suspect the oil price will be much reduced by then though.

Folks, please note, the share price is not even holding at the old 20p.

[74sjh] 23/6/2022 23:55

Andy I think EIG Asset Management LLC is the entity that has to disclose the cumulative position of all the controlled undertakings which is the 36.73 percent. If any of the undertakings were to reduce so that the effect on LLC was to pass under 36 percent then they would have to release another TR1. So far there hasn't been another TR1 which suggests to me that the EIG AM LLC holding hasn't changed. As you point out some of the undertakings are in the Caymans and it's possible the stock on loan is just some of the undertakings lending stock to the Cayman undertaking to reduce tax on the dividend. The selling pressure over the past year has probably come from the other 63 percent of which perhaps only 15 percent is left hence the buyback?

[andypop1] 23/6/2022 22:10

74,

I've only just had time to pick up on your post where you stated:

'My understanding is that EIG hold 36.7% as per the TR1 on 9 April 21. This percentage remains the same following the share consolidation. Therefore the potential overhang is 63.3%.'

What a complicated holding that is!

The holding is split between seven entities, some registered in the Cayman Isles, some in the UK and some in both, those entities are below:

'EIG Harbour Energy Advisor, L.P.; Harbour Energy GP Ltd.; Harbour Energy, L.P.; Harbour Energy Holdings, Ltd.; Harbour Intermediate Holdings Ltd; Harbour Direct Holdings, Ltd.; Harbour North Sea Holdings, Ltd.'

Harbour North Sea Holdings transferred circa 6% to Harbour Direct Holdings at some point after the takeover, if the six other holding companies then had an equal share they would be around the 5% mark bringing into question the 3% or 5% reporting threshold if that is they are now managing their own holdings.

I don't believe in coincidences, picking a way through the parent companies, directors and intertwined holding companies is like trying to climb a monkey puzzle tree.


Good luck.

[technowiz] 23/6/2022 21:35

technicals. range contraction seen. this often leads to a breakout. 330p? I think price of oil would have to drop 5% to see that price.
energy sector was down 3+% in US trading.
share buy back going great. another 1m bought back today at good prices.
tick tok half year results only 2 months away. 8 weeks 40 trading days. 5p per week rise sees us close to £4 in run up to results.

[andypop1] 23/6/2022 21:18

Dandi,
Did I detect a hint of sarcasm in your post?
Don't worry the half year results are out in August, nothing will hold this back after they are published!
On the bright side, at least there are still sellers out there for the brokers entrusted to carry out the buy back, I wonder who the sellers are?
Good luck.

[janhar] 23/6/2022 18:35

Sunak met with 20 business leaders from the UK's oil and gas industry in Aberdeen, the home of the UK North Sea oil and gas sector, and was told during a "candid and constructive" meeting that the industry was "deeply concerned" by the new tax rate, Offshore Energies UK (OEUK) said.Following months of rumors and indecision, the UK government announced at the end of May a 25% Energy Profits Levy, commonly referred to as a "windfall tax", as part of a package to ease the cost-of-living crisis stemming from huge rises in household energy bills.The move has long been opposed by the industry, which argued that a windfall tax would add uncertainty to the UK tax regime and hit new investments in the UK North Sea at a time when the UK grapples with reducing reliance on foreign imports of oil and gas.

[dandigirl] 23/6/2022 17:55

Buy-back is going well, isn't it?

[mickinvest] 23/6/2022 11:05

I'd expect an update from HBR by tomorrow latest after the meeting with Sunak on how they see the WT affecting them. Probably best we can hope for is being able to offset previous tax losses this year which would be great but unlikely.

[cashisking76] 23/6/2022 07:14

“What UK shares to buy in a recession”:

“In oil & gas, Harbour Energy (LSE:HBR) PLC is a “core sector stock”, Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) has “one of the lowest-risk free cash flow profiles in the sector” and Energean (a client) provides “excellent visibility on multi-decade cash flows”.”

[onlylongterm9] 22/6/2022 14:11

“Warren Buffett is buying #oil stocks: He recently revealed purchases of $26B of $cvx and $oxy. Below an analysis of Warren Buffett's history with oil and gas investments, and why recent purchases may indicate the best is yet to come for oil and gas equities.”

[andypop1] 21/6/2022 22:42

Auson,

Expect or hope?

I didn't even know the word SPAD existed so no, I have never talked to any!


74,

Capex or decommissioning liabilities spending? 

Be careful with where the previous tax losses can be utilised. 

I very much doubt the cash spent by a company trying to prop up its own share price to let the PE out could ever be considered as investing in the NS but hey, it's a pretty good spin!


Good luck.

[technowiz] 21/6/2022 20:54

energy sector up over 5% in US trading. this dog should be up today. 357.10+0.80 less than 1p up today.

[mickinvest] 21/6/2022 19:43

Rishi Sunak is preparing to meet North Sea oil and gas producers that have protested against his planned windfall tax on their profits, as the government also signals it is cooling on proposals to extend the levy to electricity generators.

The chancellor is due to meet industry executives in Aberdeen on Thursday — including from Shell, BP and Harbour Energy — after they hit out at his proposed 25 per cent windfall tax on their profits to partly fund a £15bn package of government support for households struggling with rising energy bills.

[back2basics1] 21/6/2022 15:41

Brent Price Live:

[74sjh] 21/6/2022 09:45

Surely the effect of the WT tax depends on what the company's capex on North Sea development is likely to be? My understanding of the mechanics is that whereby post corp tax income (at 40 percent rate) would be used for capex (which in HBRS case was not taxed due to offsetting against the previous losses) is now subject to 65 percent and 90 percent of that is deductible. So the overall effect is capex is about 6 percent more expensive whereby before there was none. The WT tax only starts to bite if a company decides to not spend capex on North Sea development. I guess it also depends on what is classed as North Sea development because couldn't HBR theoretically carry on buying it's own shares effectively buying itself to mitigate the tax? But I agree the tax has massively damaged sentiment and some clarity is required.