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Biden is going to do a windfall tax by the looks of it in the usā¦. so like the uk to solve an oil supply crisis they think the answer is to tax the oil companies so they then donāt invest in more production. All Iāll say is whereās the tax on big pharma for pandemic profits, big tech etc etc. Itās clear they want to stop people driving and flying.
Yep $125 oil itās a ridiculous valuation.
hydrogen is clearly not viable on large scale and more government corruption on show. Even with Ā£2 petrol nobody is really awake to the shortage of oil - green energy isnāt going to solve it, a recession isnāt going to solve it, windfall taxes will make it worse itās going to be interesting to see how high oil goes.
USD is only going to get stronger imo. I wouldnāt be surprised to see it get to parity with GBP. Rates going up a lot faster now.
Not much inflation going on with the share price today. Iāll be adding soon if the fall continues given Ev is approaching Ebitda.
The value is in the tax credits - well the share price doesnāt seem to recognise it or the 1.2bn ebitda for 2022.
I would like to see debt come down and some shareholder returns before loading up with more debt and another large project. The 25% tax is very annoying but some of it will be offset with capex on existing assets.
I just canāt believe how much of the price of a litre of fuel is tax to the government then they tax the raw crude production even more. Itās mental like they donāt want people to drive. Iāve been around a while and I reckon itās getting colder and global warming modelling is more of the same old nonsense.
https://www.cnbc.com/2022/06/09/brits-paying-8point60-a-gallon-for-gasoline-125-to-fill-family-car.html
UK government should be reducing fuel tax and providing stimulus not taxing the North Sea 65%
41p a bit pessimistic cashflow $0.8bn
29.0p - still cheap as chips
1.2bn ebitda
Debt 0.5x
Oil price up
Oil $150 soon
Rishi days are numbered the windfall tax is a massive blunder - treasury modelling predictions are for oil and gas investment to grow due to the āgenerousā capex relief. Reality is investment will go off shore as direction of travel on oil and gas tax policy is clear - 65% is a joke.
$1.1bn ebitda thatās about where I am. So I think the debt ratio will be 0.5x by year end
Fuel rationing is coming with mandatory wfh (the lockdown sequel). The logical thing to do in order to increase oil and gas production would be to grant tax breaks rather than apply a draconian 65% tax. Not sure the Ukg is operating rationally instead just follows agenda
Barclays broker clearly needs to engage brain and look at the fundamentals of the company and how much cash is being generated.
The bit where he goes on about how the energy producer levy was left out because of the forward buying was so ridiculous. So does he think oil and gas producers donāt hedge so itās fine for them. Heās a complete spiv.
Slumdog millionaire as slippery as every. Tax oil and gas but just sweep that massive family wealth under the carpet, I bet there was no windfall tax when that was generated.
Country going into full on communist mode.
The market has never taken into account the value Ā£3bn of tax losses chances are barclays donāt have them anywhere on their spreadsheet.