Member Info for AIMOilking

Tigar, when can you take over from Ed, you get my vote.

Brent trending up slightly from earlier low, everyone holding their breath for the Israeli response to Iran's attack.

Can't help feeling that whilst US backing off publicly, privately, I think they are egging the Israelis on, possibly even putting kit/intelligence in place to facilitate attack, higher POO is not going to make that much impact on the election at this stage and the prize may be the impact on a large percentage of Iranian oil going to China whilst US produces at record levels. The form of the attack might not be what we expect, it could be nuclear or oil facilities or even a very incisive regime topping with limited collateral damage.

At least ENQ will be generating some FCF at the current Brent price, we are closing in on the budget which we may not like but it will bring some certainty back to the market as to whether to invest or not in projects, AB may yet have a deal in the making and we have the next update in 7-8 weeks. In the meantime, media stories and sentiment is undermining ED and building a realisation that NS O&G is a much needed and cleaner national asset compared to imported O&G and will be part of a successful transition.

"Ed Miliband unlocks billions to build giant dams across Britain".

I actually think that these schemes can be useful, but more subsidies for drowning countryside, maybe it is ED's way of getting around objections to siting windmills on land, just build a lake to put them in.

What about more hydro power across rivers and estuaries? Where are the subsidies for these?

Gobsmacking if true! Just confirms what we have all been thinking.

This truth coming home to roost may be why AB has expressed an interest in gas assets.

I was going to trade a few ENQ today, but decided not worth being out of any ENQ as we approach the weekend, as sooner or later the Israelis will respond to Iran's attack and who knows where POO will be next week.

Four minutes later from last post - 4.88% up!

Brent is up 2.75% and climbing, perhaps suggests there will be further escalation from Israel tonight.

Whilst it is nice to see Brent recover a little which will benefit ENQ, I fear the consequences of miscalculation in the Middle East and suffering that is being caused.

All this misery , destruction, and then consequential rebuilding of lives and infrastructure makes UK Net Zero look like a bit of a side show.

This made me laugh, I hope she gets a good settlement which includes half of the money he has given away!

The estranged wife of a top Labour donor has claimed he is expecting an honour from Sir Keir Starmer - but is trying to rush through their divorce so she does not get a title of her own.

Dale Vince, the green energy tycoon who previously bankrolled Just Stop Oil, has given more than £5 million to the Labour Party since 2020.

His wife, Kate Vince, has now accused him of finalising their divorce in “haste” as he expects to receive a peerage or knighthood from Sir Keir Starmer and wishes to prevent her from acquiring a title through marriage, the Financial Times reported.

I was idling away a few minutes and I decided to look at the last time Brent was at these levels in January 2024, that is an sp of 16.95 compared with 10.55 today. Everything else is the same except of course more debt has been paid down, I have only counted the first six months debt reduction at circa £100m or 5.25p per share equivalent on the basis of the EPL payment and higher costs with lower Brent since then.

So from todays price it would mean a price of 22.2p broadly which would require a 100% rise in the current price to reflect the situation today, a doubling in MCap. In my view, this demonstrates how damaging the UK Government's current policy is the NS O&G sector. Some clarity and relief is long overdue!

That is an incredible 7.5% rise from today's low, wondering what tomorrow will bring for ENQ and all of us!?

Brent up suddenly 3% from over 1% down this morning - 4%+ swing in a day is unusual although given the Israeli situation.......in the old days POO would have reacted far quicker, if that is what is causing the rise, unless its the Saudis putting pressure on OPEC.

Well, at least the 2% more ENQ shares bought this week are showing a profit - 98% of them to go!

Interesting, US Strategic Reserve purchased 6m barrels last week, they said they would when oil hit $70, with Ukraine and Israel, the chances are the prices will rise, so whether strategically or for financial profit at a later date, the US purchases should tighten the market a little.

Oil, coal, steel and Coal energy all gone in a week and pretty much what you need strategically to win or be involved in a war which is looking increasingly likely.

Starmer, keep the border forces, disband the armed forces and send all the equipment to the Ukraine and finally declare the UK neutral and hope for the best whilst hunkered down in mud huts. Beginning to wonder if the government wants to make the UK so undesirable that everyone migrates out of the UK which would reduce a whole pile of government spending problems and NHS queues.

Like everyone else on this board, ENQ's sp is causing acute pain, but we are just eight weeks to the next update and eight weeks until the six months AB said there would be a deal within, if that is too long to wait, we have the budget to entertain us in the meantime.

Interesting, 5 x 100,000 to 200,000 share buys in the last hour, slightly unusual, possible news in the offing?

Houses around here are solid stone so F's, after getting quotes for windows heat pumps, dry walling and insulation to get to a C, it is cheaper to demolish and rebuild - not sure how green that is?

Although a chap down the road registered as unemployed and got £50,000 of upgrades free from the council.

At my previous house, the neighbours installed air source heat pumps, one at the end of the garden 8 inches from their neighbour and one at the entrance to their drive, both are in a town centre and can be heard 75m down the road, it would drive me nuts listening to those humming away all day and night.

Also quote from a supplier £15,000 for just the actual air source pump, phoned up Travis Perkis and immediately got a 45% discount on that price, it seems that for anything "Green" or subsidised, the installers add a zero.

Oops again!

NEW rules for wind farms could reduce the number of new developments in Scotland by 80%, according to a new report.

Highland Council passed a new policy passed a new policy called the Social Value Charter (SVC) in the summer which means energy firms building windfarms are required to increase their community contributions by 150% from £5k per megawatt to £12.5k.

In a report, Biggar Economics has suggested this could mean that four out of five wind farms which have already received consent will now not go ahead, which could lead to a £2 billion loss to the local economy over the next 30 years.

Ed's Pylons and Solar farms might have a legal obstacle - Local leaders in Essex, Lincolnshire, Norfolk and Suffolk have said the Energy Secretary will “wreck” their landscapes by rolling out vast swathes of green energy infrastructure.

They claim that their countryside will be disproportionately affected by the rollout, which they say will scare off tourists and ruin farmland.

As a result, all four have warned that they will launch a High Court challenge to block Mr Miliband’s plans.

If they have the JSO etc crowd on TV, to eulogise on Net Zero, why isn't the NS O&G industry represented?

The autonomous Falklands Island Government is going ahead with O&G exploration and Oops, poor old ED Muribund won't be able to do anything about it................!

It will also give Lammy's single brain cell a foreign policy work out or should I give him his school nick name "Rafters" - I presume thicker than a "plank", check out Rafters performance on Celebrity Mastermind if you have not seen it -OMG!!

Https://oilprice.com/Energy/Energy-General/Trouble-Deepens-for-North-Sea-Oil-and-Gas.html

Ron, you would make a great speech writer, your talents are appreciated but wasted on the faithful on this BB, as it appears we are an insignificant minority.

I will stop posting articles now, just wanted to emphasise how damaging EPL is to the NS O&G industry - it like the UK Government committing Industrial Genocide! I mean this in the widest sense i.e. NS O&G as an entity, workers, communities, investors etc etc, but when jobs are lost it can affect lives in the ultimate way, I have seen this with factory closures.

BBC Article:

The industry body's analysis claimed:

The expected tax take from oil and gas producers would "increase in the very short term" by £2bn but then would later result in a £12bn loss in receipts.

A "rapid decline" in investment from £14bn under the current tax policy to £2bn by 2029.

About 35,000 jobs would be at risk in 2029 alone due to projects not going ahead.

"This is a government that has made economic growth its main priority and yet our analysis shows that its policy will ultimately reduce this sector’s contribution to the UK economy," said David Whitehouse, OEUK chief executive.