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How do you know?
I don't know where you got your info from but Prax are still in the runing to buy Shells SNS assets along with others.
Prax thought they were in prime position to buy Shells SNS assets. There are no longer on the running and Perenco are now favourites to buy these assets. Where now for Prax?
"I would like to see from CA’s next holdings report how many dcu’s they are holding."
Me too. I am deeply suspicious of the deal CA managed to secure.
Dive centre
Thanks for the info.
My only doubt is whether the acquisition of hur qualifies the losses into the prax group.
In any event I think that it is academic as long as prax use hur to make any further production aquisitions.
I suspect that you are entirely correct in respect of the returns to be expected from the dcu’s.I am concerned as to what accounting treatment prax will use to calculate the future hur profits.
However on the plus side,Crystal Amber appeared to be satisfied.
I would like to see from CA’s next holdings report how many dcu’s they are holding.
Nimrod99
See
https://www.gov.uk/guidance/carry-forward-corporation-tax-losses
and note this paragraph:
“If your company is part of a group and has carried forward trading losses made on or after 1 April 2017, other companies in the group may be able to use those losses. This is called group relief for carried forward losses.”
I very much doubt we will get the full 6.48p and probably lucky to get half. Prax are not in business for the benefit of anyone other than their own shareholders.
Kever I believe that the tax benefits are actually better described as accumulated hur tax losses.As such their future utilization depends on Hur creating taxable profits through acquiring additional profitable producing assets.The current well is relevant insofar as it is a revenue producing asset albeit of declining productivity. Should the current well fail completely I believe that Prax would need to swiftly inject other producing assets , as if Hur was not a producer it’s tax loss status might be compromised.
The Lancaster field is also not crucial in that Prax could use Hur to acquire additional producing assets outside of the Lancaster field.I believe that Prax intend to do that in any uk field where the economics work.
I am not a tax expert and am not sure if the hur accumulated tax losses can flow through to prax directly on a group basis,so I am assuming that Prax would need to use hur to acquire additional profitable producing assets to be able to utilise the tax losses. That does appear to be their intent.
If there is a tax expert on this board,their input would be appreciated.
The tax credits acquired by Prax can only be utilised so long at the HUR P6 well (or any other well on the Lancaster licence) is producing oil.
Kever
I believe that the tax credits apply to hur the company and not to the well.As long as new producing assets are acquired by hur the tax credits can be used.
I am not aware if the credits expire within3 years.If not, then prax has plenty of time to make acquisition.
Abusive name calling adds no value.
"There is little incentive for prax to invest in boosting hurricane profits over the next 3 years.After the 3 years is over its a different story as prax gets 100% of the returns."
One of the reasons Prax bought HUR was for the valuable tax credits you loony. They need to buy producing assets to use the tax credits. when the HUR P6 well becomes uneconomic in early 2025 then the tax credits become worthless. Prax have to use them whilst HUR is still producing.
The prax payment is based on profits from hurricanes uplift of oil.....costs and its sale price.If anything payments will fall over the next 3 years as the uplift reduces as the well productivity declines.I suspect that these payments will be far lower than the maximum quoted in the prax take over documents for the reasons above and the scope for prax to use creative accounting.There is little incentive for prax to invest in boosting hurricane profits over the next 3 years.After the 3 years is over its a different story as prax gets 100% of the returns.
I think...
Sept/October 2023. 0.27p?
So, are we expecting the first payment in October, and if so, how much will it be per share? I seem to remember the bigger payments were stacked towards the front end?
Yes
Has this Share gone for good?
You can sell the DCU’s if you can get a matching bid for them or hold them and collect up to a max of 6.48p between now and 2026 paid every six months in Oct and Apr
Same for me 6moe66 and JockJoy
I don't really understand much of this in all honesty, haha.
When are we supposed to be able to get any money out of the DCU? Not expecting it to be what it is now of course!
Hi 6meo6,
I too am amazed by the generosity of AJ Bell on the CDU pricing.
If only I could get a SALE ORDER on that!😄
Just Checked my AJBell account to great surprise of >100K PRAX shares @ 1.77 GBP each!
Any way to cash out haha???
After all the bad luck with HUR it would be good for something nice to happen for a change.
Nimrod
hadn't posted for 6-7 weeks and found it a relief not to have to be trying to achieve something with all chips stacked against. returned because only thing left to do is monitor dcu developments, and monitor HUR p6 production and any other developments for the satisfaction of it being in time proven that HUR sale was a scam sale between & benefitting all interested parties save for PIs. I'll likely only pop in occasionally for a read and occasional post if I feel have anything worth saying.
puerile that after my not posting for 6-7 weeks, that upon posting after such a long absence the usual deviants appear reiterating their usual propaganda drivel that I am HUR obsessed.
my earlier reply to you included a touch of agitation pursuant to your comment perhaps i should leave BoD issues in the past. i assure you none of those scum or issues cause me sleepless nights hence my long silence. pity a couple of others couldn't have zipped it for a couple of months rather than feel compelled to post repeatedly displaying their expertise on nothingnesses
Senseman
Alas I have had a touch of gout recently……..very painful,but the medication is not halucinogenic.
My post was just an appreciation of your contributions and a measure of politeness which has sadly been lacking on this board all too often. Keep up the good work!
Nimrod - out of respect for your earlier post, i ask simply - have you since that writing taken drugs?
Senseman
Thanks for your kind words and thanks for your hard work and contributions to this board for many years.
I agree with your criticism of the bod…… but that ship has sailed and perhaps it s time to let it go.
What I would like to know is what Bernstein and Kerogen were told, or promised to gain their support for the scam given that the only guaranteed payment was less than the previously rejected offer of 7.7p.
Thought I’d just check if board was still active lol situation normal, Senseman’s found himself another potential court case to loose…. Interesting he held the ‘worthless DCU’s’ though…. Hmmm