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Be honest Ammu123 if they got near 16p you would be shouting 10p that is just what you do!
share price 23p net profit per share = a bit higher. Find a better company?
Romaron trying really hard to ensure any negative posts stay downnnnnnnnnnnnnnn
LMAO
keep ramping Romu
Totally agree with chilting.....Windfall Tax means there is no appetite for Funds to buy Oilies (especially debt laden ones).........This will keep dropping (with occasional blue days).....
16p will happen unfortunately....:( even with Romaron ramping this 24/7
Regarding the fall over the last 5 weeks, I don't think its the WT that has driven the sell off as if you over lay most of the oillies including the US ones the pattern is the same, they have all fallen around 40% from the highs in May.
All still making huge FCF and all will soon be paying out large Shareholder returns
The market won't ignore that and the SP's will return to following fundamentals in valuing the returns.
I still think we we hit 50p by year end
So basically he will point the finger at anyone else other than himself due to his obsessions with going green to early and his extra ordinary TAX slapped on pump fuel and of course energy bills.
This government is the worse we have had in 35 years, lies, deceit, corruption, parties and even hiding in fridges to avoid answering questions.
Kraken
I did think that we would see concessions by now for small oil companies but if anything the Government's attitude seems to be hardening, and they are generally backed by public opinion. Also it seems that, as usual, they are making it up as they go along, so as the Petrol price increases, I think the policy will harden.
As for defining normal range - I guess that's the point when the energy crisis ends and public gaze moves onto a completely different crisis - in other words when the public stop worrying about high fuel prices - Johnson is very media led at the expense of rational policy.
The Windfall tax is a knee jerk reaction to the fear by Government that old people will die of hypothermia and malnutrition this winter and they will get the blame.
You've gotta laugh..
https://www.bloomberg.com/news/articles/2022-07-01/jpmorgan-sees-stratospheric-380-oil-on-worst-case-russian-cut
Chilting the government will have to define the oil price where they remove the Levy (normal price is unacceptable)
Oil prices from February 2005 have ranged between $30 - $148 So at $110 are we not still in that normal range ?
Governments? P1ss up. Brewery?
Looking back at the three year chart, the uptrend started after the big fall for Covid at the end of March 2020.
This uptrend continued until the end of May 2022, with dips over production worries in 2021, but by the end of May 2022 the SP had completely recovered the uptrend.
So, it was defiantly the Windfall tax that has knackered the SP and the fact that it continues to drift down means that potential investors are still very much sitting on the fence, regardless how good the potential is, and are still concerned that a high proportion of profit will be taxed away.
It seems that Governments around the world see oil companies as a soft target for milking extra tax revenue and it will probably only be a balancing between supply and demand a fall in the oil price that will save the drain on profits.
Negative sentiment is all and won't last. The FCF is hard to ignore and focus will soon turn back to fundamentals which, as highlighted, look strong.
All in costs per must be around 50-55 dollars a barrel. Brent could well go to 130 dollars easily as the Russian taps are turned off around Europe. (And the huge amount of diesel supplies that we have coming from Russia)
Even if we hedge around 100 dollars moving forward, we are still making a yearly gross profit of 650 million.
With the wheeler dealing from AB tax wise we have to be looking at 450/500 million profit even with the ridiculous tax the clueless scarecrow of a pm has implemented.
How on earth is this valued at 400 million quid? We will have no debt whatsoever in a few years. Just utter lunacy and have a good weekend all.
EnQuest’s bank account is looking rather swollen
Unlike my wallet