Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Https://fishsafe.org/en/news/
Looks like this one could be a site survey for drilling
This has it moving down now for H2 https://www.energyvoice.com/oilandgas/551595/definite-potential-for-neo-acquisition-with-risk-to-buyer/ although having regularly checked in on its position recently there does appear to be more than usual activity around it latley and this has a pipeline connecting to it being disconnected on 24/4 https://fishsafe.org/en/news/ "The 6" gas export / import pipeline between the Western Isles and Tern Developments will be decommissioned.
The Pipeline will be disconnected from the Tern subsea isolation valve (within the Tern platform 500 m safety exclusion zone) and the Western Isles North Riser Base (within the Western Isles FPSO / mid-water arches 500 m safety exclusion zones). Surface-laid connecting spools and associated mattresses at both ends of the pipeline will be removed. The pipeline sections back to the existing rock armour cover will be cut and recovered. The exposed ends will be temporarily protected useing concrete mattresses, and subsequently permanenty covered with new rock armour." I know serica have said the final decision will be made until the latter part of 2024 https://www.oedigital.com/news/513280-esgian-week-17-report-new-contracts-for-the-north-sea I hope this is simply political postering by Serica on behalf of Neo to try and stop the EPL going any higher, and as long as it stops by the end of Labour's first term, maybe the cost of the Western Isles and other costs could be capitalised to keep profits and tax down until the EPL is removed and ramp up profits soon after, although our resident accountant will know more about that than me.
Boka Atlantis is now docked in Lerwick.
Onthe4 is quite alright with me right now. Sadly it looks a distance away. I hope Einstein’s optimistic onthe7+ will come to pass.
Today’s fall in price is caused by people selling because they no longer believe in JOG. Is there any hope? Herr Benitez, the so called CEO of the company is apparently happy with the status quo; he’s on a fat salary and bonus for doing SFA. He’s no longer needed, time to give him the heave ho. Pre-farmout, the ‘market’ would have interpreted the departure of the CEO as a negative sign. Now, his removal and the installation of an experienced oil man, one who has brought a field on line, as boss would be well received. Doing nothing, keeping him there, while the share price languishes (declines) only adds to the negative feelings about the company which are attributed mainly to ‘unfavourable politics/economics’.
The fundamentals are good. There is proven oil which can be produced economically and, despite idiot taxation, it WILL be profitable. Come on Herr Benitez, get out there and tell the story , OR Board, remove him and get a proper oil man who can do the job.
Frustrating for those shareholders. I would say it's a gas FO which is trading low and probably structurally will for some time I've heard said? Oil on the other hand has been very resilient in spite of all sorts of bad news. They didn't even close it before all the EPL malarkey.
Today's fall in JOG is probably caused by the RNS from Deltic. Deltic are saying that its currently very difficult to do North Sea farm out deals etc. due to:
"... the continual tinkering with the Energy Profits Levy and resultant fiscal uncertainty created by the current government, along with recent rhetoric emanating from the Labour Party"
https://www.lse.co.uk/rns/DELT/pensacola-update-soxmfg025hjejdl.html
Nice hair , or in French Beau lochs
I think that should read "Ministers have been urged by MPs, economists and motoring groups with close links to fossil fuel interests to rethink plans to ban the sale of new petrol and diesel cars by 2030.”
Whether as as investors or simply consumers, we should all be more aware that almost all public pressure, in the press and elsewhere, is heavily funded by fossil fuel interests. Those interests use exactly the same tactics as the tobacco companies, of deny, deflect, delay.
North Sea redevelopments ‘on the rise’, but which projects are seeing success? https://www.energyvoice.com/oilandgas/552437/north-sea-redevelopments-on-the-rise/
Good write up of projects including Buchan. Nothing new.
It's exactly one year to the day that DiveCentre posted the below message - Miracles Do Happen.
" DiveCentre Post: 2,160
Price: 245.00
No Opinion
RE: Commentary 29 Apr 2023 17:34
This is from the Times today:
“Ministers have been urged by MPs, economists and motoring groups to rethink plans to ban the sale of new petrol and diesel cars by 2030.”
https://www.thetimes.co.uk/article/ditch-unrealistic-pledge-to-ban-petrol-cars-by-2030-ministers-told-hhgfck8zg
Re: DU & Others,
Dick has demonstrated why NEO and SERICA might go NEGATIVE in FID.
But then surely JOG ( DU is positive) will be liberated from their Farm Out agreements ( surely- basic competent legal advice in the first place for the original Farm Outs) and JOG can seek other partners.
This weeks IC has an article on the North Sea regulator and emissions and possible easing ( JOG is already ahead of all
this debate).
However the article concludes :
" Despite regulatory uncertainty due to this years election and the energy profits levy extension , ITHACA and ENI are exploring a deal that would see the Italian energy giant swap its North Sea assets for a 39% stake in ITHACA.
This would further increase ITHACA'S EXPOSURE to North Sea at a time when others are looking elsewhere for growth "
So if ITHACA are positive , maybe they or others might fancy a tie up if NEO and SERICA get cold feet.
I tend to agree Einbert, not without risks however. Egos and still having a job are important. Also I would say it's hard to have to scrap the WI instead of using in at Buchan.
Sometimes I think that Tories went for EPL knowing it would have to be rescinded by Lab. Lab were going to do it anyway, so why give them the money and the brownie points? Forcing Lab to have a better tax regime for O&G in NS would be quite an irony. Quite the spoiling play. But I'm definitely over thinking. I think.
From your lips. Let’s hope your positive interpretation from your crystal ball is accurate.
Greener101, maybe you are on the money £10.1? But I think you may be over thinking this capital allowances and EPL ‘stuff’. Investment decisions are made according to egos - not rational economics. If Boss A (or B or C) has too much personal skin in the game and can’t, for megalomaniacal reasons, backtrack, it will go ahead. Think of (several?) erstwhile BP ‘bosses’ and some of the dreadful (catastrophic?) decisions for which they were responsible. (Alaska, Texas city. Deep water Horizon..)
Buchan WILL go ahead! My 2 shares will eventually be worth more than 1 flagon of cider.
Always good to read your post.
Love love love 😄
Still stands, onthe699p I’ll buy you dinner. Promise Einstein. Happy Friday to you.
Onthe6 should be onthe34 (or Dick, please remind me onthe43?)
I think I’d settle for onthe7 (or maybe onthe10?)
If Labour keeps capital allowances, project goes ahead, EPL removed by 2028 we'll do a whole lot better than £4
Interesting discussion.
All I care is jog at least fetches £4 for all of the long term holders. When I said £4 I was in trouble but now that the same number mentioned by our resident guru I’m at ease mentioning it again. Good luck and good weekend. Again forget the 150p for a few days. Next week next hope. There’s always a fresh hope.
I’m thinking The Beano gives more insight into the escapades of both JOG and the ‘Government’.
Take a look at Rodger the Dodger = the CEO of JOG (name escapes me?) and the Bash Street Kids does rather resemble the Westminster ‘Parliament’.
I never got much further in my literary pursuits than The Beano; it was a sad day for me when The Dandy ended. Desperate Dan was my hero.
But if you want a truly dystopian image of future financial mayhem, i might suggest The Mandibles by Lionel Shriver.
I’m waiting for the fall of the Labour Party ‘government’; it will be truly awful and probably quite quick, and the rise of a New Political dynamic, with a leader such as JK Rowling and with Dominic Cummings and others like him, driving policies. (Just think why the press, Whitehall and media destroyed Cummings; they feared his intelligence and threat to the status quo and mediocracy so much.
Rather than 1984, re-reading Catch 22 might give more peace DU. I'm thinking of the conversation between Yossarian and the old Italian gent who has learned to accept history as a tide that washes in and out. Can't stop the vicissitudes of people and politics.
It's all happened before and will happen again - 1970s here we come, but we'll come out the other side. Trident probably keeps the Russkies at bay!
I say this as someone who saw JOG as a one-in-a-lifetime and bet the farm. So it's pretty bloody disappointing.
I am also exhausted by this act of self-harm by UK Gov, but I believe Labour HAS to wake up to this sooner than later. The consequences are clear. Shell de-listing, a bankruptcy in NS, Cambo being pulled, escalation in Ukraine could all precipitate the noises the industry need to hear. Even without a bit of luck, HMRC and Treasury calculations are being prepared - James Murray asked for this in the Hansard document. It will be prepped and published.
It was squeaky bum when they missed the FO deadline. We have seen this before too! GLA
Apologies, Rollo - I thought I was replying to Greener. Fwiw, I value your posts too, otherwise I'd have applied the filter - I'm a bit gung-ho in this regard; there's too much nonsense posted by people whose opinions don't count for much because they're never reasoned, or supported by valid data.
JOG is pretty much a binary stock nowadays, thanks to Sunakhunt et al. Fingers crossed JOG's talented team will pull something half-decent out of the hat for us all
Greener, God help us if a bloke with his political and former local authority background has been selected to manage Britain's finances ("James Murray is currently Shadow Financial Secretary (Treasury))". Almost as good as Angela Raynor (remember her - the one who left school with more children that GCSEs?). Jeremy Corbyn picked her as shadow education secretary.
I'm joining the Labour Party and applying for the job: "shadow housework secretary", or maybe "shadow knitting secretary". I'm sure I would be very adept at both.
I'm not having a go at you btw, as I enjoy reading your posts, which are always well-constructed. You can be trusted to have "dyor" and to have reached sensible conclusions. Various people in the Labour Party have said various things, none safe to regard as "official Labour Policy". They all say whatever they think Joe Public, whose vote they're after, will approve of and swallow. I'm far from sure even Rachel Reeves knows what they'll do, but what Miliband has promised (he represents the left of an already violently left Party) is the closest we're likely to be getting to the truth about his plans at least. What he wants is important and he'll quite possibly get, because Stoma won't want a split immediately on getting the post he so desperately wants, to enable him to turn his socialist (some communist) ideals into reality. Just wait 'til you find out how much he intends to bleed "those with the broadest shoulders" of their savings - ie you and me. It's scary.
O/T - it will be 50 years on 23 Aug since I left the holiday isle as a recently qualified CA to get a couple of years experience in London. I'm not quite sure what happened. It would be of no interest to others even if I was. Were family and other circumstances not to prevent it, I'm pretty sure I'd be heading back to where I still regard as home, even after all these years, when Labour gets voted in by people who have no idea of the horrors they're voting for.
Joe Public will almost certainly be voting for poverty caused by unaffordable (even if it could be guaranteed to be available) energy. And a whole lot more on top, in times when politicians make it absolutely clear that failure is to be lauded and success punished. There are more failures than successes and education has been dumbed down to ensure the masses don't understand much about anything, to the extent they'll vote for anything they're told is good for them. Someone else will always pay.
What a country to live in - never in a million years did I ever think it would ever come to this. I recommend re-reading 1984 - it seems to have been set as the agenda. I appear to be the spit of Winston Smith.
It's a conspiracy, Guv.
Does anyone know if shares can go up as well as down?
dyor
These politicians actions are an act of self-destruction of a country I used to be proud to live in
DU - James Murray is currently Shadow Financial Secretary (Treasury) so presumably carries a little more weight than you suggest.