Jtc Share Discussion Threads

[freddie ferret] 28/3/2018 15:59

MT.
Agree re your post 66599.

JTC.
I have heard a rumor that a large amont of oil has been discovered in the Agean sea, have you heard anything of this?

[jtcod] 28/3/2018 14:14

It seems a large number of schools including primary schools received hoax threats this morning saying they would drive into and shoot any students that tried to leave at 3:15pm. We really do live in a sick society.

[the stigologist] 28/3/2018 09:36

PYC which has in recent past done 1p to 32p (intraday high) within 48 hours

Currently sitting at 5.2p

Management just got options granted at 5.35p

In two weeks they're due to present currently embargoed Abstract on a Government funded Personalised Cancer Care project in association with Oxford Uni Professor Mark Middleton at THE major US Cancer Conference the AACR ( )

Chart looks like she's gonna blow pretty soon IMO with Bollinger Bands tightening...

[temporarily insane] 27/3/2018 09:57

Maybe they should start drilling the huge reserves Tethys Petroleum have.

[mount teide] 27/3/2018 09:31

Recent oil industry research suggests that as a chronic lack of investment since the financial crash, particularly by the Opec Nations, is setting up a supply crunch and higher prices, possibly much higher.

Sleepwalking into an oil crisis:




.....Coming Supply Crunch

'Norwegian research firm Rystad Energy reported that oil companies discovered less than seven billion barrels of oil and gas in 2017 -- the lowest number on record. Rystad indicated that this would only replace 11% of 2017 oil and gas production, and that the last time the world discovered enough oil and gas to completely replace that year's production was 2006.

Since the beginning of the shale revolution a decade ago, the world has discovered 110 billion barrels of oil. Meanwhile, consumption has totaled 360 billion barrels. This 250 billion barrel deficit between discoveries and consumption seems sure to grow in the years ahead, given recent oil discovery trends.

It is understandable why people would be complacent about this scenario. After all, didn't the world face similar risks a decade ago, only to have shale oil save the day? But it isn't clear that there is another "shale oil miracle" that is ready to save the day. There are indeed more high-cost oil resources out there that can be developed, but these projects take a long time to complete. That's why we can look out two to three years and see an impending supply crunch. The longer investments in the industry remain depressed, the more unavoidable this scenario becomes.'


....Shale Oil and OPEC May Not Be Enough

'Former Energy Information Administration (EIA) head Adam Sieminski warned of a decade of disorder:

"Maybe we are going to be less volatile now because shale can feed into rising demand. I’m thinking that the decade of the ‘20s is going to be one of difficulties. That’s why I call it the decade of disorder. We’re not getting enough capital investment now, I don’t know that shale is going to be able to do it all."

There are some who suppose that OPEC has enough spare capacity to flood the market and keep oil prices in check. But Ed Morse, Citibank’s Global Head of Commodities Research, warned that OPEC may be pumping at maximum capacity and that there is a risk of a market squeeze due to under-investment by OPEC countries:


“Fear in the market has been that OPEC production will rise dramatically, however, there could be a supply gap emerging, which could point to a tighter market. We’re seeing more and more evidence that it’s not the international oil companies, it’s not the independent oil companies that are lagging new investments, but it’s OPEC countries lagging, particularly those five [Libya, Nigeria, Venezuela, Iran and Iraq].” '..........

[jtcod] 26/3/2018 23:10

It would be interesting serratia if they could design a single transducer with graphene coating which could cover 20hz-20khz and flat frequency but I am sure that would be science fiction. :-)I think I read one manufacturer is using graphene on paper cones. Not sure whether it makes a big difference but apart from the weight the added strength would surely improve performance.Like you I prefer fast speakers. I currently use Piega Coax 90.2 which is a ribbon style combined tweeter and mid that goes down to 450hz before handing over to the woofers. The most important thing for me with any speaker though is the tweeter end of the spectrum and how high it performs before breakup. Piega Coax goes out to 50khz before breakup which is well clear of human hearing as you know. This design delivers very natural and smooth highs. Diamond and beryllium tweeters work similarly well in this respect. Was particularly impressed by the diamond tweeter on the latest Magico range and I will also audition the new Revel F228 BE soon which is Berylium.

[chestnuts] 26/3/2018 20:01

JTC

SQZ

Its what i thought, but thanks for confirming this,

[jtcod] 26/3/2018 19:50

Best way is to send management an email to check for sure chestnuts. Perhaps even phone

[serratia] 26/3/2018 19:48

JTC,

Speaker sound is subjective so these are only my views. I prefer a fast speaker. I find that in my limited listening experience paper cones suit me more than metal or polymer cones. Perhaps it's due to the lighter weight I don't know enough about weight vs performance to confirm this. A strong lighter weight paper cone could be interesting re speed.
I've known about Graphene composites for a long time and in many cases adding a small amount of the correct Graphene to polymers can double their strength. So, what would a Graphene polymer coat do to a lighter weight paper cone or even a ' half weight ' polymer cone.
I saw this link today -

hxxps://theweeklyobserver.com/earpiece-made-of-graphene-allows-us-to-listen-like-bats/33198/

[jtcod] 26/3/2018 19:08

I would expect there to be a partner agreement to cover such an eventuality and/or simple failure to cover their % of costs. Under the terms it should lay out the eventualities. If for instance it was simply a case of can't pay rather than insolvency then the other partners pay and the one who doesn't will still retain ownership of shares and an option to satisfy the funds plus a penalty down the line if they wish. That may be seen in simple terms as a drilling opt out for instance. Where it is a bankruptcy, the 25% ownership may by forfeited and possibly go back to government who would then issue that to a new partner or an existing partner with the wherewithal to fund ongoing costs. I feel sure it will be covered in the agreement and if SQZ are putting up the extra it sounds to me they know what they are doing.

[chestnuts] 26/3/2018 18:31

JTC

You maybe know the answer to this, SQZ own 50% of Columbus they have a partner who own 25% who are bankrupt , they are going to start to develop the wells if there partner cant pay , what happens to there share of the asset.

thanks in advance

[mount teide] 26/3/2018 12:32

Oil - increasing demand and a falling stock trend, together with a weakening dollar and rising geo-political risk looks to be behind much of the recent rise.

If these upward risks to pricing continue, would not be surprised to see oil grind higher towards $80 by year end.

[jtcod] 26/3/2018 10:52

I can't see negative things happening too fast vis the USD chestnuts but on the other hand I do wonder if this is the real reason the oil price has been rising in recent times rather than any real shortage of supply. Tbh I haven't had much time to think about the dynamic but I wonder if the prospect of trading oil in 3 different centres and two different currencies has influenced world prices in the short term.

[chestnuts] 25/3/2018 16:55

Is this the final nail in the coffin, and will the USA go back to gold in the panic


hxxps://oilprice.com/Geopolitics/International/China-Prepares-Death-Blow-To-The-Dollar.html

[mount teide] 25/3/2018 14:07

Why are the EU bureaucrats absolutely petrified of the UK walking away from the EU and making NO further payments into their high cost, undemocratic protection racket which inflates the cost of food and many basic items in order to subsidise most of Europe's inefficient industry?

Could it have something to do with the UK's current net contribution to the EU being equivalent to the net contribution of 24 of the other 27 EU Nations combined.

Astonishingly, while the UK taxpayer is a heavy net EU contributor, the EU's Mossack Fonseca on steroids tax haven of Juncker's Luxembourg, which has the world's largest GDP per capita at $107,708, some 35% more than second placed Switzerland and near three times that of the UK, is a net beneficiary to the tune of 1.5bn Euro's per annum, as is wealthy Belgium who gets a net 2.0m euros per annum!

Unbelievably Ireland, the EU's other major tax haven to have benefited hugely from multi nationals like Apple continuing to flock there to take advantage of the secretive, ultra low corporation tax deals - now has a current GDP per capita that is the fifth highest in the world (yes you read that right) at close to $70k, nearly double that of the UK paupers across the Irish Sea, whose amazing taxpayers kindly saved Ireland's bankrupt banks and the Nation from impoverishment following the financial crash.

Great to know that as far as the EU is concerned we are all in this together!

[maxk] 24/3/2018 23:17

Bliar didn't care .. he was ok.

[serratia] 24/3/2018 22:57

My children have had a few jobs as their career developed. I calculated that their money purchase schemes from the different jobs were equivalent to final salary schemes based on between 1/100th and 1/200th final salary schemes. At best they would need to work 66 years to earn a 2/3rds pension at worst 133 years.
When Gordon Brown increased the tax on private pensions Frank Field (Labour MP)went to see Tony Blair and said Gordon has just destroyed private sector pensions. Blair said Gordon didn't explain it that way. Blair clearly didn't understand what it all meant. Frank Field was correct.

[mount teide] 24/3/2018 18:14

UK politics has moved significantly to the left over the last two decades. As Peter Hitchens recently said, he does not recognise the current Tory party as a Conservative party any longer - "for two days of the year at the Conservative Party Conference they pretend to be Tories for the rest of the year they are 'fake tories' ".

The current Tory party is probably more of a social democratic party today in its implementation of policy, while the Labour party under the highly dangerous Corbyn, has taken the party to the left of that under Michael Foot and Neil Kinnock.

That much of the UK productive private sector is now routinely ridiculed and criticised rather than championed as the primary funder of public sector services and provider of living standards, that the overwhelming majority of the global community can only dream about, is a complete mystery to many of my foreign friends.

[chestnuts] 24/3/2018 18:00

JTC

Sure oilprice as gone up but so as inflation and interest rates , But that article does show they are making little or no profit with oil at $65 , Shale companies need a very high oil price to survive, If the Saudies had thought when they tried to swamp the market with oil they should have shorted the banks which were the most indebted to the shale companies , I would have if i was them.

[jtcod] 24/3/2018 17:39

I get your concern about what looks like communism under a western banner chestnuts. Certainly their have been subsidies documented going back as far as 2011 but it's not across the board as far as I have read with some companies run very well indeed. The whole industry to end of 2017 was reportedly averaging 0.8% profit margin but of course the selling price has improved since then.https://oilprice.com/Energy/Crude-Oil/US-Shale-Drillers-To-Become-Profitable-For-The-First-Time.htmlI too don't think we live in a capitalist society any more. It's more socialist imo. There are so many areas of interference, assistance and control that western economies have become artificial and very complicated.

[chestnuts] 24/3/2018 16:53

JTC

They USA started subsidising shale oil , not one shale oil company as posted a profit and been kept alive by the banks, in effect the banks which are most likely being controled by the government are trying to control the oil price, is this not already protectionism.
Or should i say communisum .

[mount teide] 24/3/2018 14:49

FF - when you have politicians like Jean Claude Juncker while PM of Luxembourg - the tiny Nation of just circa 500,000 souls(about the size of Bristol) - encouraging over 240 major multi Nationals to relocate their by offering an effective average corporation tax rate of 1%, while UK small business are paying 20 times that, is it surprising the UK high street is in trouble?

Latest estimate suggests corporate tax-dodging costs the EU between 54.5bn Euros and 76.4bn Euros a year, according to a study by the European Parliamentary Research Service. Companies allegedly achieve this by funneling their profits made throughout Europe to low-tax countries like Luxembourg and Ireland - instead of paying taxes for profits made in each respective country.

According to reports, Google paid 28.6 million euros in its Irish tax bill for 2014 on the back of around 18 billion euros in revenue. Its Irish affiliate reportedly receives most of its non-U.S. revenues. Financial documents for one of Apple's Irish subsidiaries, Apple Sales International, saw reported profits before tax totalling 7.11 billion euros on sales of more than 29 billion euros from 2004 to 2008. It paid taxes amounting to 36 million euros.

According to a study released last year by the liberal nonprofit groups the Center for Tax Justice and the U.S. Public Interest Research Group Education Fund, Apple has booked $181.1 billion in offshore profits, more than any other company. Yet, it pays a 2.3% effective tax rate on it, according to the study.

According to Bloomberg, if the Irish government is forced to recoup taxes from Apple, the company may face a $19 billion tab in the worst-case scenario. In response, the company said in a 2014 report that it “has received no selective treatment from Irish officials over the years.”

In October, the European Commission declared that the Netherlands had “granted selective tax advantages” to Starbucks in 2008, and ordered the country to recover back taxes totalling 30 million euros. Investigations revealed that Starbucks had allegedly cut its tax burden by paying the Netherlands just 2.6 million euros in corporate tax on a pretax profit of 407 million euros, a rate of less than 1%.

Ikea's Net Income and Taxes in Luxembourg, 1991 to 2014 - An analysis of the annual accounts of Inter IKEA Holding SA - the Luxembourg holding company for one of Ikea's corporate groups - showed that the company reported paying 477.9 million euros in taxes on a total net income of 15.6 billion euros, an effective rate of just 3%.

Yes, even one of liberal luvvy Europe’s own has been accused of tax dodging. Swedish multinational company Ikea has been accused of not paying more than 1 billion euros in taxes over the past six years. Based on a report by the Green party, Ikea was using its subsidiary in the Netherlands to move money from its European stores, and then pushing it to tax havens in Lichtenstein and Luxembourg. As a result, in 2014, Ikea didn’t pay 35 million euros in taxes in Germany, 24 million euros in France and 11.6 million euros in the UK, according to the Greens/European Free Alliance.

Thanks to a holding company in Luxembourg, Amazon was able to achieve a tax bill of £4.2m on the back of £4.3bn worth of sales in the U.K. Amazon, it seems, has decided that it might just be worth it to pay more in taxes. Latest reports indicate that the online retail giant would start paying more taxes in the European countries it was conducting business in, rather than funneling cash to a holding company in Luxembourg. In the U.K., The Guardian reported that Amazon became the first technology company to unwind its complicated tax structures, and would start booking its sales in the UK, after politicians called for a blanket boycott of Amazon after it was discovered they were paying just £4.2m on the back of £4.3bn worth of sales. Even in the UK, Amazon were reportedly able to get away with low tax payments because it attributed payments in Europe to a subsidiary in Luxembourg.

Microsoft's Sales and Taxes in the UK totalled £2bn from 2008 to 2011, around 3.5% of that was eventually paid in taxes to the U.K. government.

Fashion retailer Gap became the latest major brand name to join the row over unpaid taxes in Europe when reports surfaced that the US based company had paid almost no tax in Britain since 2011; this despite reaping sales of around £1bn. The retail giant achieved this feat by allegedly moving money through a multi-million-pound “royalty fee” to a Dutch company called Gap (Netherlands) BV. This cratered UK profits, and effectively meant Gap didn’t need to pay any corporate taxes whatsoever on it.


And don't forget, just to rub salt in the UK taxpayer wound, many of these companies target the employment of EU migrants by offering minimum wage employment, safe in the knowledge that the UK taxpayer will be heavily subsidising their employment through huge tax credit and housing benefits payments together with free of charge schooling and health care etc!