Member Info for Auson

Strike123,

I am quite sure Starmer would support the war too !

capdailbrit,

Actually he has been ramping since 17p, it just depends on your time scale.
Its not really the point where the share price was or is. Its looking good here as to where the share price will end up.

Papegoja,

Well it looked like there was a seller this morning selling 250,000 blocks also 100,000 and 150,000.
I think there were a few yesterday too. I guess an accumulation trading strategy might make sense if it was the same entity that bought the 3.9 million at 25p on Monday I think ( also a £44m buy on BP around the same time )
Very strange to be selling when oil has broken the downtrend. I think we are going to see $125 then $130 soon, even a pessimistic view puts Enquest straight back to 28-29p in that scenario.

ProdOpt,

Thanks for the detail and the links, Officially as well as stating they are committed to OPEC's production agreement it sounds like they could increase by circa 800,000 barrels a day.
'The United Arab Emirates' oil production is near to maximum capacity based on its current OPEC+ production baseline, which is 3.168 million barrels per day, Energy Minister Suhail al-Mazrouei told state news agency WAM on Monday.

“In light of recent media reports, I would like to clarify that the UAE is producing near to our maximum production capacity based on its current OPEC+ production baseline, which the UAE is committed by until the end of the agreement,” he said.
His remarks were made in response to reports that said the UAE has the capacity to produce 3.4 million and has been working on raising it to four million bpd.
In March, Mazrouei said the UAE is committed to the OPEC+ agreement on monthly oil production and has not agreed to individually increase production outside that framework.

“The UAE believes in the value OPEC+ brings to the oil market,” he added."

romaron,

I think I have mentioned before there was a discussion a few years ago ( around the Aramco float ) on oilprice(dot)com re Saudis reserves and production capacity. There were a few engineers who had worked out there( some for many years ) the long and the short of it was that the reserves were over stated and the wells had been worked hard therefore the claims of extra production capacity were to be taken with a large grain of salt.

Tommo1985,

Fully agree on the over £250m profit, a company should be permitted to make a subsistence level of profit to future proof and save jobs in any downturns or recessions. ( normally taxed at 40% anyway )
They also need to take into account the expenditure required to bring the production online and take off the depletion as wells don't magically produce forever.

Looking good for a recovery here I think.
Just need the Energy Profits Levy to turn out to be a damp squib and we will be off to the races.

LeChameleon,

It won't go bust as the Kremlin would support it. It could very well be 'stolen' from the current owners/ share holders or de-listed/ relisted. It could also recover to a price several hundred percent higher. The future here is not yet known but right now it obviously looks quite bad.

January24,

Just need hedging losses to be permitted to be offset against the EPL

Voiceofreason1,

Does 65% tax on UK CS from a Conservative Gov. sound ok to you ?
How about Tory donors ( like BP and Amjad ) being hit with 25% extra tax.. it just doesn't happen !

Kamrat,

Thanks very much for posting your spreadsheets.

Have a good day in sunny Stockholm, maybe a nice day out at Skansen ?

BaysilHope,

Be nice for us if we could use Hedging losses against EPL.

proctor44,

Yes spot on ! The $5b extra revenue they talk about is more than covered by the extra Fuel duty, VAT and additional tax revenue at 40% vs tax losses by most oil companies over the pandemic

epiphany121,

Aren't a lot of the hedging counterparties located in Switzerland or Luxemburg. Also don't think they apportion their profits in UK/ non UK production. Tax would be difficult if not impossible to collect.

Jeffrey1979,

The question for me right now is will Brent bounce from here or drop another $4 or even $8. Both scenarios are somewhat inconsequential for Enquest. I think slightly more important right now is the Energy Profits Levy.

EG77,

You need to hold on the ex-entitlement date, being close of play today to qualify for the OO shares. The record date is meaningless to holdings.

DBNO,

Come on mate its just the shorters making the CCL price rise a bit look at the balance sheet and consider the VLSFO price even at a premium over todays Brent. I would short the heck out of airlines, hotels, cruise lines etc
Energy is the place to be !

Sekforde,

I don't think they will change the sunset clause, it would look like a U turn and give away political points and votes to the opposition. What they can do is be very generous with the cap ex and opex relief allowances definitions, and that Labour lot would be too dumb to work it all through and realise that the effective extra tax rate could be in the order of a very low single digit percentage extra.

chilting,

The lack of detail re Energy Profits Levy could also be because it was rushed through to deflect attention and protect Boris re party gate report the day before. Its a political points and vote winner and the detail could allow such generous exemptions of cap ex and op ex that it makes little difference to total rate of tax ( especially to the big players ) I'm not saying I know this will be the case but it is possible.
Operis tax consultants seem to take this view
www operis com/energy-profits-levy-on-uk-oil-gas-sector/

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

SpaceHoppa,

All good chap, I doubt it would make any difference to the shareprice either way !