Member Info for Auson

BaysilHope,

Thank you for your kind words, but I can't take the compliment as I didn't bother/ try to work out how much said hypothetical tax might actually cost Harbour if it were implemented. ( I'm thinking approx $100m or under ? )
I should have added refinery margins are very high at the moment so Shell and BP likely to be windfall taxed more.
I see Centrica was down 13% today but that is from a yearly high.

Proposed windfall taxes talked about ( excess profits ) due to the elevated Oil and Gas price.

1) Harbours excess profits would only be on the unhedged sales on Oil and gas prices above a base case pre war, likely to be something like $85 per bbl and say $5.30 per MMBtu.
2)There was mention of windfall tax unless excess profits reinvested in increasing domestic supply, North sea spend could exempt Harbour
3) Its possible our N.S. tax loses might exempt us here anyway
4) I would be surprised if any proposed tax would be more than 30% on the excess part of any profits.

Strike123,

It always was being shorted 6.48% stock out on loan on Euroclear at end April up from 3.64% end March

Rookie1,

If you are correct then monkey pox will have to become another covid type pandemic, which the epidemiologists are saying it won't.

onedb,

The power of the algos and just a very small percentage of the company traded on a daily/ weekly basis determines the valuation on said company.

traderUK,

How do we know they are selling out and not just reducing ?

traderUK,

Its very hard to get the bottom price 467 seemed good value. It sure seems we are being pushed around by something.
I was just looking and it seemed GIC bought 12.679% threshold crossed 31 Mar 21. In the run up to that it looks like the price was 441 to 647. Seems a strange time to reduce here as they could have much higher in the past (with much lower oil and gas price ) or in the future with much higher oil and gas price, lower debt much more visibility.
Anyone got any thoughts what they are up to ?

Is that not like saying its not British Airways its IAG ?
Either way and what ever the result will be I bet Italy a re sweating right now.
Better for them to settle for an undisclosed sum with an Non Disclosure Agreement signed.

romaron,

Harbour EV to FCF for 2022 should be higher than ENQ EV to FCF, they also have hedged gas at a low price ( in hindsight of course) , perhaps the market thinks there is time to wait before buying in there.
As a larger producer the windfall tax might hit them harder.
Interesting they have been talking about a tax on the majors, would BP's $24b write down exempt them from a retrospective windfall tax ?

ElProfessor,

12 month low £1244.60 12 month high £1553.35, current price £1497.53. Centamin's market cap should really be valued in USD so I guess its just a sentiment thing when gold price is falling.

Thanks mrtibbles,

That does seem to match the US at the pump diesel price in 2020, I thought we might be a bit more insulated than that.

mrtibbles,

Are you suggesting Centamin are paying circa $5 plus a gallon for diesel when it can be bought on the street in Egypt for around $1.35 ?

Tornadotony,

They also buy fuel at a government set price which should be a massive benefit over other miners either paying spot or hedged prices. For illustration US diesel price at pump per gallon was $1.98 in 2016 now $5.12 up over 250% !

chilting,

How would they use this windfall tax to help the stretched consumer ? 5p off a litre perhaps like the last 5p off which translated to from memory a passing on of 2p at the pumps for about a week followed by a 7p plus increase the following week.

Falky,

Ha ha good work ...you are either going to be VERY RICH or skint.

Megan1,

I just bought some at 50.18 and now they are offering me 50.45 to sell

antonvb,

I think the futures price is the most important factor here we could do with that rising to $100, for a real sentiment and value boost. For the next 18 months I get an average of $87.5

Persian,

No I think its 90p by 3pm

refinery margins are the highest they have been in years
from Bloomberg
'Crude isn't cheap at around $110-a-barrel. But the price you're really paying for fuel after it comes from the refinery is anything from $150 to $275 a barrel. '

34adsaddsa,

They won't ( due to party donation money/ lobbying ) but if they did it is only on the ( excess profits ) and besides we have the tax losses which may mitigate the effects for Enquest versus BP for example.