The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
The Barclays numbers don’t make any sense. The cash generated at 120 is massive.
I bet they are using 65% not 25%
Net debt will be going down rapidly at $120 so I don’t understand why the refinance will be difficult. Just look at the ebitda to net debt ratio and where it’s going with these oil prices.
The way to go is for all the companies to boycott development then the gov would be forced to uturn again. They have already have voted against it once.
To understand boris you just have to look at his dad and what he stands for. Nobody gets to be an MP without being controlled at some level.
EV going to 1xEBITDA so it’s a waiting game. The problem is this country wants to punish oil and gas companies. nobody cares about valuation metrics it’s all about esg and the climate nonsense.
It’s like the government wants the energy crisis to get worse.
Maybe boris will bring back his daily press briefings. There’ll have all the journalists asking nonsense questions about the energy crisis, pushing for more tax and spend.
I think it’ll move up fast now China has opened up from their lockdown nonsense and the shortage of oil and gas globally gets even worse. The problem is there’s nothing stopping boris his band of green socialist loonies from slapping on even more tax on the higher it gets.
I think it’s going a lot higher than $116
Clearly invest in the North Sea and the government takes 65% doesn’t work. The trouble is they know this and their crazy environmental/reset agenda is to wreck the country and make energy unaffordable.
Windfall tax on oil in the US on the cards. Prices look like going much higher to me.
It appears that it’s 45p per £1 invested that can be used to offset the 25% tax the other 46p in the headline 91p doesn’t look like it can be utilised against the new levy. I think there will be another u-turn because it’s clearly not been thought through and no company will invest in the uk.
I think Uk can say goodbye to any new investment in the North Sea. All producers on mass should say that’s it the uk is too unstable and invest outside of the uk. I can see another u-turn coming when this tax grab backfires as investment dries up.
All the operators in the NS should as one say no more investment until the 65% tax is removed. All new investment goes overseas where you get much more than 35%. If they accept this nonsense tax now in 2025 or sooner they will raise it to a 70-80% rate.