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2025 bonds @ 60 cents on the $.

They're the buy here. Unfortunately not accessible to retail.

But their view isn't driven by economics, it's driven by political ideology. That won't change.

Labour want to:

Scrap the increased investment tax allowances
Increase the "windfall" tax to 38% (so total tax = 78%, the same as Norway)
Backdate the tax to January

Chances are they will do all of those things when they win the next election. The NS has been rendered uninvestable.

ting the lives of Brazilian citizens who had no connection to their protest at risk.

The locals are going to be getting very p155ed off at the criminals.

Every day that the measure of force of the Indigenous Association for Development and Conservation of Bajo Puinahua (Aidecobap) against the Petrotal company is prolonged, the damage suffered by the population of Puinahua is greater, which, for the most part, does not support the protest.

And it is that the control and blockade of the river carried out by the followers of the association prevents the supply of fuel that the company uses for the operation of Block 95, as well as the one that it donates to Brittany and other towns in the district so that the families have electricity service and, therefore, drinking water.

This situation generated by Aidecobap has caused Brittany, the capital of Puinahua, to be left without water and electricity because the blockade makes it impossible for the boats to arrive with the fuel supply for the operation and the town.

As a consequence, other basic services and economic activities in Brittany have been greatly affected and even paralyzed. This is the case of the Brittany Health Center whose workers, by means of a letter addressed to the Puinahua Sub-prefecture, denounced the damage and danger caused by Aidecobap's “territorial control”.

"The shortage of electricity affects us in different areas (dentistry, obstetrics, laboratory and topic) making the quality of care not adequate for the population, prone to putting the lives of patients at risk", points out the letter that warns about the worrying health situation caused by the association.

Similarly, the citizen of Brittany, Giomar Calampa, on behalf of its population, urged the sub-prefect of Puinahua, Julio Acho, to inform the national authorities about the "vandalism and criminal acts that the Aidecobap protesters have been committing ”.

"The blockage of the river has been restricting the transfer of construction materials and the supply of sand for the construction of our communal premises, a situation that not only delays the work but also puts the total stoppage of the project at risk, affecting approximately 240 families" , denounced.

The “Punchi Warmi” organization, made up of 21 Brittany women who manage and operate the local flake ice plant, also raised their voices in protest at the damage caused by the strike. In a letter, also addressed to the sub-prefect, he publicly denounced the "violation of freedom to work" caused by the association.

"Our ice plant, which is the support of 21 families, is affected by this type of actions that we denounce today," said the communication that also demands that "free transit through the Puinahua river be restored and order and authority in the district.

To date, Aidecobap maintains groups of people armed with spears and shotguns, upstream of Block 95, to prevent the transit of boats. As is recalled, on November 24, his followers detained a barge loaded with oil and kidnapped the crew for more than 48 hours, put

Jeremy Hunt is drinking your milkshake.

Jefferies cuts Greencore price target to 73 (82) pence - 'hold'

The cash has been building up at a rapid rate but the people can't get any benefit from it because AIDECOBAP are taking such extreme positions and actions. I think most local people will become increasingly annoyed at them and they will face increasing social and political pressure to scale back their demands.

The population of this district seems to only be about 4.5K people so on a per capita basis we're talking about huge amounts of money being made available.

It all depends on the price.

Why didn't more of them say this stuff before the budget.

That's all their US assets. I think GoM is 20k.

It has been ruined by the "windfall tax". Same with enquest.

You just buy a put without selling a call.

Snagged £20k at 99.135

They will fall to due oil falling and FT backing up 35% tax rate.

What you don't seem to appreciate is that could have been written at many points in SDX's history and value was subsequently destroyed as a result of those activities.

The fact there are so many drilling targets is not a positive. The targets are so numerous because they are so small. "Activity" is touted as an exciting thing. It isn't. It's a scary thing because it costs so much capital for such little payback.

No, the successful drills are a small positive. I think the market doesn't like this:

"Following these successes, and the identification of further similar drillable prospects, the Company plans to expand its drilling operations in 2023. To date, over 70 prospects have been identified on the portion of Moroccan acreage that is covered by high-quality 3D seismic, of which 25 have been high-graded and total around 20 bcf P50 EUR unrisked."

If those drills go badly then you've lost a big chunk of the cash balance and getting an easy ~15p (feel free to pick your own number) from winding down the business suddenly goes out the window.

I'm not surprised the market doesn't like it. As I've said: aggressive drilling is how this goes from a guaranteed value play to a gamble on drilling.

But given the actions of aleph, it's either this or try to buy assets. How many tiny assets/stakes are there that SDX could realistically buy? Not many.

They're the government's favourite piggybank. Lots of money and zero political cost.

The extension to 2028 - assuming it happens - kills the idea of investing now to offset tax imo. Now it's just deferring taxes to later.