Member Info for AIMOilking

Can anyone tell me what is happening with the Australian Gold Field Licences?

It has all been DRC - gone quiet - Lithium - getting eerily quiet - Australian Licences - have they gone to Greenland or Cyprus Bank or been stolen away like everything else, including shareholder value ?!

I don't get it?! De-list from the UK stock exchange and move your registered office to a more favourable tax regime, bingo the costs are covered and taxes reduced. I know it is a bit more complicated than that but others have done it, both companies and individuals. Result - the government will no longer need to worry about EPL or Justopoil, although we may have trouble turning the lights on to read are benefit slips once we are all levelled down.....but that me be a blessing if its your neighbours day to wear the shared clothing!

The Iron Lady would not done anything as daft...........oh err mmmmm poll tax, in some ways right or fair idea, but impossible to implement as opposed to EPL - wrong idea, but dead easy to implement, even retrospectively.

Is it the increased Global temperature...........what is going on with the World at the moment? Russia/Ukraine, West v's East, Kosovo, famine and mass migration and now Hamas has kicked off with an unprecedented attack on Israel.

What will be result of this latest conflict, surely a severe response from Israel and then what?

I assume that this is going to have some impact on the price of oil and gas, in the past tension always signalled a rise but will further conflict impact the Global economy? Logistics and Suez may also be impacted by a new full blown state of war in the Middle East.

Thankful that ENQ assets are situated in relatively benign locations at this point, let's see what this week brings, on a micro level ENQ low sp doesn't help, but on a macro level, I find this all very depressing.

Aviva and LGEN's MCap are currently in the same ball park, so if there is a bid for Aviva, why not LGEN. After all LGEN in my view is very undervalued and simply based on dividend, 2 x dividend cover without considering the assets and long term nature of the business.

Personally, as long as there is takeover news in the sector, sentiment will carry LGEN to a higher sp, personally back to 265p is a reasonable short term target.

Krak, I think ENQ shareholders and all NS O&G's shareholders deserve a medal!!

40p is a good two year target if POO and production hold, although we could be there this year if hunty scraps EPL.

I think posters are right in saying we should ask questions of our MP's in writing, anyone suggest some concise knock out questions?

Every 10 years of investing, I have a bad year and this is definitely an annus horribilis of the highest order!

Five £25,000 purchases between 16:15 and 16:21, someone is making an investment in ENQ.....

Krak, don't you mean £260m.......

What an hysterical joke !

Jeffries cut is a bit dramatic, what has happened since their last target in May that warrants cutting the forecast by a third?

Surely, a fairly cast iron dividend produced by LGEN warrants a higher target price as an income share?

Get a paper certificate for each ENQ share held..............free insulation for stuffing your trousers with or putting under your carpet and a decent bonfire as a last resort.

The way they calculate the EPC means is impractical because I believe it assumes you heat your whole house to 20 degrees which basically means my choices are knock the house down, build another house inside this one or spend a fortune on renewables which will never pay back in my life time. I use no where near the amount of energy that the EPC says I should be, it seems the government has subsidised the renewable industry, perhaps there windfall profits should have EPL applied. Hoping ENQ sp will keep me warm this winter!

I don't know the details but a $600m contract sounds decent enough, perhaps we'll see more news at ENQ on that front. Unless it was balancing the books, nice 500,000+ trade in shares went through this afternoon, not mine although I bought today.

Added a chunk today - averaging down in the hope of a near term recovery in the sp - by near term - November update.

Dumbly, totally agree. Until EPL is modified and assurances are made the NS is a basket case for any investment.

I don't have the skill set or information, but I would love to see a spreadsheet looking at the benefits of EPL to the government, but it would have to include the governments loss of income from all other forms of tax from corporation tax through to income tax from oil workers and capital gains from investors etc etc. Plus it would have to take into account at least the period to 2028 along with the decline in the NS production etc etc.

It would not surprise me if the conclusion is that EPL simply destroys the NS industry and accelerates the demise of the government's and GDP income from the NS.

Sunak and Hunty have just made a short term grab/white collar theft under the cover of JSO extremism. The use of fossil fuels has to be reduced - period, but the reality is that fossil fuels are part of the transition mix, as is improved renewable solutions and infrastructure. In my book Hunty in particular got away with one of the larger MP expenses claims frauds, only to commit a greater crime with EPL, EPL is too high, extended too far, does not allow for all losses and combined with a lack of government or opposition foresight is killing the investment in a critical industry. As I have said before EPL was directed at the wrong industry, by that I mean the small NS O&G independents.

Interesting Steve, I thought I had an implied contract when I bought ENQ prior to EPL, as far as I am concerned the government moved the business goal posts and grabbed ENQ's profit - where do I apply for my compensation for all the ENQ losses I now have????? Still surprised someone has not challenged EPL in the Courts. As an example, if ENQ's average revenue per barrel was $79 due to hedging, where are the excess windfall profits and why is a one off POO spike being taxed through to 2028? Not expecting an answer - just making a point as a I cry over missing out on the 60p party and all those temporarily suspended dreams.

Brent now $96.63 - I think we will deffo end BLUE!

Brent at 95.63 up 1.78%, if that holds then I think that 15p is golden, now at 15.34p which is 6.53% up. A good day given what we have been through recently as shareholders. If we have hit the bottom, ENQ sp should at least rise by the amount of debt being reduced and pundits generally seem to think $100 for Brent is on the cards.

Thanks Dumbly, if anyone wants to use or modify the letter to send out to MP's, feel free to do so, although your point about the NS O&G industry needing a stable tax regime etc. going forward is a point worth including, to reduce the risk for future investment.

As the sp sinks lower, I wonder how many stop losses are being triggered?

I have to say this ENQ sp death spiral thanks to EPL is getting pretty gritty and thankfully POO is heading up again after a couple of rocky days. I hope that the November update will lead to a re-rate, if the debt reduction figures are good. However, AB must be in some pretty serious M&A discussions to feel unable to support the sp with a few director buys. The PR team have acknowledge multiple discussions are taking place, however, none of them have reached the point where they need to be RNS'd. But given the impact of EPL - Waldorf being an example - I would have thought that it would be in companies interest to move discussions on a s quickly as possible, unless AB is playing poker face to avoid paying over the odds if EPL continues to make companies more desperate. Anyone else spotted a NS O&G company heading towards the rocks?

The potential fire sale of Waldorf is ridiculous and solely as a result of EPL. I am fed up with Hunt, he is a waste of space and I know, having met him many times. So, I decided to vent my spleen on the Treasury Secretary and I do feel better, well that was until I looked at ENQ's sp again..................

Dear Mr Glen,

The small North Sea Oil and Gas producers are being unduly penalised by the EPL tax (35% to 2028). These companies provide the UK with some of its energy security, make the UK a world leader in oil exploration, ensures skilled jobs and contributes to both GDP and taxes.

Put simply, EPL is destroying the NS O&G industry, making it un-investible and undermining existing finance covenants. Now, I read about the first significant casualty with the potential "fire" sale of Waldorf Production, it would seem purely as a result of the imposition of EPL.

The big oil companies have exited the NS and therefore are largely unaffected, so EPL is misdirected and there has been no "windfall" for the smaller companies due to hedging of oil prices, so that they largely missed out in the spike in oil prices.

EPL is destroying a viable industry which this country needs irrespective of the extreme "Green" agenda. Oil and Gas will be part of transition and will be needed in the future, simply buying it from overseas does not make the UK "greener".

Please get the government to reconsider EPL before it is too late, in reality is just a desperate privatisation of perceived excess profits which is morally wrong and goes against all economic and business sense.

Yours sincerely