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Are they stating dividend again?
Gold closing to 2000 dolor.
One should consider that the information we received is third hand.
People close to the decision makers and their advisors know first, then journalists and then it becomes news for us.
The price movement late last week could explain.
“Reviewing the HBR share price today and doing a simple maths, it becomes abundantly clear that lot more than any potentially reported WT here is priced in this absurdly oversold, fear driven company that is still trading (in PMO terms) where it did when Oil prices were at around the $30 levels (not to even mention super Gas prices of today);
Energy giants currently getting 91p in relief for every £1 they invest could instead receive 109p under the new regime, effectively meaning the taxpayer is paying for the investment and handing over a further 9 per cent of its value in additional relief.”
10% more tax on profit means about 200mln more tax. Given that with hedged oil at $80 pbo, for 2022 free cash flow increased $2-2.2 billion1 (after c.$700 million of total cash tax payments),
HBR SP will inevitably move north to significantly higher and more deserving levels, forthcoming buybacks alone will take care of that even before HBR becomes completely debt free early next year with higher O&G prices almost guaranteed for next decade, and cash rich Harbour Energy will only decide which global jurisdictions are more profitable for future investments depending on what actually comes out factually from the currently unknown fiscal statement.”
L3trader and Rkie1 appear to be same person,
They have invested their time for years here to write only and only negative things. Even denying reduced debt by 1bkn and hiue profit after 25% levy
I wonder if they are not short from years back, why do they waste so much of their time here!?!
Well said Meoryou
We should look at the facts from most recent report, which is based on hedging at $80 per barrel. It shows that profit should increase dramatically, even after this new 10% levy.
Highlights from most recent report are:
- § Forecast 2022 free cash flow increased to $2-2.2 billion1 (after c.$700 million of total cash tax payments)
- § Revenue of $4.1 billion with realised post-hedging oil and UK gas prices of $80/bbl and 86 pence/therm versus the average Brent price of $105/bbl and NBP gas price of 209 pence/therm
- Production increased to 207k bpd.
Also two new successful well, Catcher (UK) and Natuna Sea Block A (Indonesia) will support producing more oil.
Well said Meoryou??????
We should look at the facts from most recent report, which is based on hedging at $80 per barrel. It shows that profit should increase dramatically, even with 10% higher levy.
Highlights from most recent report:
- § Forecast 2022 free cash flow increased to $2-2.2 billion1 (after c.$700 million of total cash tax payments)
- § Revenue of $4.1 billion with realised post-hedging oil and UK gas prices of $80/bbl and 86 pence/therm versus the average Brent price of $105/bbl and NBP gas price of 209 pence/therm
- Production increased to 207k bpd.
Also two new successful well, Catcher (UK) and Natuna Sea Block A (Indonesia) will support producing more oil.
Lets estimate how many percentage more tax Harbour should pay on profits following increase in WFT from 25% to 35%?
Let's assume we pay 800mln tax on the profit. How much more tax should we pay following 10% increase in WFT?