Member Info for Auson

Enjoy January24,

Hope you come back to 60p or nearest offer !

To Ammu123 who has finally managed to get his buy in at the price he wanted.
Looks like all that negative posting finally paid off

05-Jul-22 16:27:34 21.50 12 Buy* 21.45 21.50 £2.58

Hi Troajan,

No I don't know of any at all.. I think thats quite telling isn't it.
I would have thought some of the scammers on AIM might have been all over that by now.

With my limited knowledge I think sell EP to West Africa, China or Brazil. Use Armada Kraken with subsea tie back to Bressay, get her up to nameplate capacity of 50-80kbpd. Use that FCF to commission a nice shiny new FPSO for Bentley and Bressay. The new lease can then be used to offset against the Energy Profits Levy.

mick-b,

I really can't see that happening, although probably is a good time to invest in heat pump companies.

Israel downs three Hezbollah drones headed for one of its gas rigs in the Mediterranean

This is why they will develop the Falkland Basin
www bbc co uk/news/av/world-europe-62025313

My main concern here is competition. They have created a great thing, but there are better ones out there and their are not really any ' moats' to thwart any competitive challengers.

I am sure the engineers can test it using voltage, X-ray and the like but I really don't like the idea of a 40 year old hull being deployed in the North Sea and full of Crude. I reckon AB has had offers from some developing economies but reckons its worth more. I wonder if he could use it to leverage the deductions in the Energy Profits Levy, perhaps through sale and leaseback for example.

romaron,

Was there a design life quoted for EP ?

Ammu123,

Does Enquest have to pay a windfall tax in the North Sea or can between 91% then 80% be offset against cap ex and Opex.
'Tax Rate Type of Relief Relief Rate Amount of relief (based on £1 million expenditure)

Energy Profits Levy 25% First year allowance 100% £250,000
Energy Profits Levy 25% Investment allowance 80% £200,000
Additional Relief 45% £450,000
Existing Relief 46.25% £462,500
Total Relief 91.25% £912,500 '
www operis com/energy-profits-levy-on-uk-oil-gas-sector/

US considering Windfall Tax.
Buffet still buying Occidental stock !
www oilprice com/Latest-Energy-News/World-News/US-Economic-Officials-Says-Biden-Considering-Oil-Tax-Windfall-Tax.html

Ammu123,

I have already bought these at 16p, unfortunately you won't get that chance again. Maybe another penny lower if you are really lucky but that will be it.

A few people keen to buy in here hey Ammu, why don't you buy Harbour if its down 7% already ?

romaron,

Looks like they were all at it, must have cost a fortune. Not been to that pergola, but I do see that Lord Leverhulme's house is for sale divided up into a smaller house for £15m

To any that are not happy with the fund raising and our dilution, it sure looks like we are in a much better place than Argos right now.
I guess if the FIG just delay the license extension a bit Navitas or Rockhopper could buy the company at a discount to the 1.75 suspended price

romaron,

Well I believe Pimlico was turned into useable land with the excavations from The Docklands. Also the entire Embankment was constructed to house the sewer and tube line.
Apologies, always the pedant Auson

Strike123,

I think we had 4.7mmbls of hedging for 2022 left ( May to December ) meaning we have used up 3.9mmbls of the total 8.6mmbls 2022 hedge. The costless collars I think I am right in believing means they will sell at $76 if the price is higher or at $65 if the price was lower than $65 due to the hedges being costless collars.

epiphany121,

Yet you would think contango would see a higher valuation of oil producers due to higher future profits than spot.

Stupmy,

I think that is a really good question for Investor Relations ( make them earn their money ) I would think there must be some Cap Ex and Op Ex contracts in USD but in the North Sea I would think a lot is in GBP like wages and any contracts with Scottish or UK based contractors. As I said it is all inconsequential as the largest number ( Revenue ) is in USD
With the Dollar at £1.22 previously £1.32 If we assume revenue at $1700m
thats £1393m up from £1287 so increase of £106m
Debt at $950 was £719 now £778 increase of £59
Market cap at £447 was $590m now $544m decrease of $46 or £37m

Stupmy,

Just a coincidence. It would only make sense if our revenue wasn't in USD.. but it is !

Stupmy,

Because oil is still in quite the uptrend from the very start of the year !
SPR now under 500m barrels and cushing almost down to 20m barrels.. the minimum it needs to function !