Hunting Share Discussion Threads

[beercapafn] 28/8/2008 18:08

I think it is amazing that they have just got $ 380 million cash, the oil price drops $ 25 and makes it look like a great timing to sell and still it drops. !!!

Wish someone would buy it and but me out of this roller coaster ride...

Jim

[pyman] 28/8/2008 16:48

not as exciting as everyone eles s results i guess

[beercapafn] 28/8/2008 16:42

Ok, why down on 2.8% in a rising market. ?

[bossman1978] 28/8/2008 13:09

Nice results today

[pyman] 12/8/2008 17:23

results due 28th august.

[pyman] 09/8/2008 19:39

yeah - seem really stuck in the range- still the longer it goes on the bigger the move once the trend breaks

[hectorp] 08/8/2008 13:03

Agree,
however shares down over 4% today . Hmm

[pyman] 08/8/2008 11:04

agree with the last paragraph. Spend the money fast!

[robson1974] 08/8/2008 08:47

Hunting sells Gibson arm to Riverstone
By Martin Arnold and Toby Shelley

Published: August 7 2008 03:00 | Last updated: August 7 2008 03:00

Lord Browne, the former chief executive of BP, returned to the London stock market yesterday as Riverstone, the US private equity group he joined last year, acquired Hunting's Canadian oil and gas distribution business for £626m.

The buy-out of Gibson Energy, which sent shares in London-listed Hunting up almost 12 per cent, is one of the biggest deals by the energy-focused Riverstone since it hired Lord Browne to run its European activities last year.

While Lord Browne was not involved directly in the deal, his influence is being felt at the group founded in 2000 by two former Goldman Sachs bankers.

He is helping attract potential investors to raise up to $16bn (£8.2bn) for two new funds focusing on renewable and conventional energy, both of which Riverstone is raising in partnership with the Carlyle Group.

Lord Browne was forced to resign from BP in May, ahead of his planned retirement when it emerged that he had lied to a judge when seeking to prevent the publication of allegations about his private life.

Riverstone's purchase of Gibson represents a multiple of 13 times the Calgary-based business's operating profit last year. Analysts said Hunting had done well to make a £305m profit on the disposal.

Analysts have long called for a rationalisation of Hunting's structure since Dennis Proctor, the chief executive, transformed the former defence and aviation group into an oil industry company.

In spite of strong results, the company has been undervalued relative to oilfield services rivals such as Wood Group and Petrofac.

With the oilfield services sector in the throes of consolidation, Hunting might have to move fast to avoid becoming a target. In recent months, Expro International and Abbott Group have been bought by private equity. Hunting has received several informal approaches.

[rogerbridge] 07/8/2008 21:27

Yes but managed to bag a few in the process.

[hectorp] 07/8/2008 09:18

OOPS but this is a real tree-shake.

[hectorp] 07/8/2008 08:32

Last chance to buy under 900p.. any takers?
- well, there is ! an instie is feeding buys in steadily- I assume private investors have gone on vacation, its summer, no-one likes oil service companies?
wrong! I do.

[hectorp] 07/8/2008 08:16

chart is angling up for a sustained rise here IMO.
ANy press comment peeps?

[pyman] 06/8/2008 09:41

hello peeps

[hectorp] 06/8/2008 09:22

Today's sale quadruples working capital

[hectorp] 06/8/2008 08:55

Been buying on the dip.

Could retest 950 in next two sessions IMO. There will be postive newflow, maybe broker updates.

[dancing piranha] 06/8/2008 08:15

LOL, ouch!

Bet that caught the shorters out!

[wjccghcc] 06/8/2008 08:09

Yup. Takes their tar sands exposure away and also the Moose Jaw refinery volatility.

[hectorp] 06/8/2008 08:08

SAle of major asset - they will also make £300M gain on it.
THis very good for company and share price.

[pyman] 05/8/2008 11:29

wow- £8 is great support but sure is a pretty head and shoulders pattern - if £8 fails then £7-50 support followed by £6-50.My money s on £8 holding- might see a brief run down to £7-50 on a bad day where i d buy.

[pyman] 22/7/2008 14:15

halliburton results were strong and outlook strong too.

[pyman] 22/7/2008 10:02

chart breakout?

[c lau] 22/7/2008 09:55

Why the share price shoot up today? Is there any bid on the table?

[pyman] 15/7/2008 14:34

test of £8- held so far