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Telegraph paywall.
Aying up for the bills. £87 billion a year – by the start of 2030 for defence, decarbonization of the grid will cost a few billions, where will they get all this money? Big deficits, more and more debt, growth almost non-existant....The tanks will drive with solar panels i guess....If we as civilians would be spending like Governments, we would 've been bankrupt decades ago.
https://www.telegraph.co.uk/business/2024/04/24/britain-faces-a-fate-much-worse-than-france/
Labour will have to deal with p
The pressure is building on this unfair Tax grab
Labour will have to deal with it somehow as reality bites back.
A court challenge must be coming
Serica’s Chairman is quite right of course but he’ll have his comments slapped back at him by announcing the maintaining of dividend and commencement of buybacks. It’s a no win situation other than for the UK Treasury .
SQZ results open with a sizzler:
“ Commenting on the results, David Latin, Serica's Chairman and incoming Interim CEO, stated:
"I am very pleased that Serica has delivered a strong set of results for 2023 despite significantly lower sales prices compared to 2022 and a full year of the UK marginal tax rate being at 75%. Any 'windfall' due to high commodity prices has long gone and the high tax situation is ill-suited to a mature oil and gas basin such as the UK North Sea. Its continuation will not benefit people in the UK either financially or environmentally.”
SQZ, announced results today and also announced a 15M share buyback which starts today. Not sure why ENQ has still to pull the trigger on these.
Enquest over 16p tomorrow
Who took that 600k print today? Saw baron investments say he’d topped up. Or could be start of buybacks
Nm
Exxon has a market cap of $476bn on FCF of $36bn in 2023. Enquest has a market cap of $375m on FCF of $300m in 2023. The market cap of Exxon is 1269 times greater than Enquest and yet its FCF is (only) 120 times the size. If Enquest enjoyed the same ratio of market cap to FCF it would have a valuation of $3.965 bn. I would not mind so much if Exxon had greater growth prospects. But it does not. FCF in the end is all that matters. That is money that is available for distribution to share holders. Either Exxon is absurdly overvalued or Enquest is absurdly undervalued or both.
Both up 100 points today. 100.50 to 101.50.
It takes size to move it that much imo and these are professionals. A very good indicator. They hear stuff before us. They've made money with dividend and a capital appreciation. They're in no hurry for the exit.
I wonder if our stock on loan has decreased over the last month or so.
Where are these buy backs - we need them - O&G dropping fast
I Spoke too soon
Looks like the new energy sector is being part funded by the old oil and gas industry perhaps we should pat ourselves on the back eco warriors and didn’t know it. As long as I make a few bob I can live with that.
Hi Frac, that's why I love a webcast or an AGM. You see the body language or when someone is really interested. You could see that it had alerted LK's political sniffer dog reaction. That will be filed for a later programme. 'Over-ambitious' is political speak for 'we got it wrong' or 'we won't get it past the public'. Labour will do the same regarding 2030. I'm sending off missives about the NEW 9X (2X onshore, 3X solar, 4X offshore).
This is interesting: https://www.pressandjournal.co.uk/fp/news/aberdeen-aberdeenshire/6440359/peterhead-windfarm-approved/
In the last auction that got anywhere (AR4) the strike price for floating offshore was £87.30 against plain offshore £37.35. The subsidy or strike price needed for the Peterhead windfarm isn't mentioned in the article. We know offshore has shot up so there won't be any surprises when the numbers required are published and the amount of 'revenue support' which is paid by all of us.
Brent seems to be reversing some of the losses made last week.
Everyone waiting patiently for Buybacks to start lol
Thanks, Therapist, I’d missed that when Mod posted it. It is reassuring to know EnQuest has direct and high quality input into OEUK, and now mainly from the smaller companies operating in the UKCS. ( Brindex seems to have become fairly non-consequential.)
R , seems Lk’s statement on SNP politically misforcasting their targets is a set up for Labour next year … as we all know you can’t magic said#s of turbines and panels in 5 years !! Empty rhetoric that’s being stored rotting to be thrown once Labour are in the stocks !
Hi Therapist, had posted that on the 16th of April, 16:38, but bis repetita placent.
Hope the censorship comitee approves.
Hi,
I thought Steve was formidable on the latest FY results presentation. Now been sent in to play with the big boys. Politic in action.
https://oeuk.org.uk/oeuk-strengthens-board-with-three-new-appointments/
GLAXXX
Hit a rich vein there Tigar.
Hi Redbuffet
With respect please stop posting your drivel about others not posting anything of value to you? your posts or of no value to this BB either.
Thanks all for the suggestions of using filter. Have employed to good effect. I had resisted hithertonow in the hope that some of the dross posters could at some stage have shared some insight but I’m drawing a line in the sand. @Stevo12 if you post analysis on twitter make sure you share your handle!