The Evil Diaries: Wirecard and Petro Matad

Wirecard (WDI) are now to be investigated by BaFin (the German equivalent of the FCA) for money-laundering. All this was disclosed in Der Spiegel late last Friday. So far, the share price has been only mildly affected – it is now Euro 37. But later this week the attack is to become serious. Stay well short of WDI.

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My deep oil correspondent offers the following thoughts on Petro Matad (MATD). He thinks that Friday’s RNS “could be positive if MATD gets financial compensation from Shell sufficient to cover the drilling of the two wells to which Shell had previously committed. Not only does MATD now have 100% rather than 22% i.e. nearly five times the underlying value but they also have control of the exploration. It will be interesting to learn whether they will seek a replacement farm-in partner in the near term or wait till the results of the first wells are available. If I recall correctly both the Shell farm-in wells were planned for 2017 – i.e. the first was deferred from 2016. It is probably reasonable to assume that there will be no change to the drilling timetable but one wonders whether there is an argument for drilling the first in 2016 (assuming it is feasible and subject to having adequate seismic results etc.), particularly as working capital to meet overheads etc. would be tight again in 2017.” I am holding on tight.

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A review of discussions about the EU on BBC Radio 4’s Today programme from March 2004 to June 2015 discloses 4,275 guests talked on that very subject of whom only 132 were in favour of Brexit. Of those 132, some 95 were members of UKIP and a third of the Brexit contributions were from one man, Nigel Farage. I do not know who has threatened the BBC if they are not bent or whether the BBC just set themselves to be bent. Whatever the answer it is a disgrace that the BBC do this with public money.

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Finally, some readers may feel a bit of self-aggrandisement is in order. They might therefore log on to a new organisation styled Awards Intelligence which purports to advise on the availability of basic awards such as MBE or OBE right on up to serious grades such as knighthoods and so forth. One fills in a form, undertaking, no doubt, to pay an appropriate fee and bingo one is on one’s way to social heaven. Here is the entree: Queen’s Honour Support

When I had completed the form I was promptly advised by AI to hand back my peerage and not under any circumstances to pass GO. I did not spend the requisite three minutes listening to the handlebar-mustachio’d Mark Llewellyn-Slade who, it is claimed, is the managing director of Awards Intelligence. I did not want to clog up the rush from more deserving applicants and thus be thought a cad. For founding Awards Intelligence, Mark should be restyled Sir Mark. If he fails at 10 Downing Street, I recommend the little known principality of Oobydoobydoomia, an outcrop of civilisation last noted in the middle of the Indian ocean.