Member Info for BacchusII

The North Sea Chapter of the International Association of Drilling Contractors (IADC) recently sent a letter to 650 UK MPs and 129 MSPs warning that further harsh-environment rigs could be “lost for good” due to the windfall tax changes while explaining that rigs are just the “tip of the spear” for further oil and gas production.

The organisation says rigs are “vital” for decommissioning hundreds of North Sea wells, as well as playing a “critical role in meeting net-zero” through facilitating carbon capture utilisation and storage (CCUS) projects.

https://apple.news/AVGdZScyrSCWPHkVLQlRyyQ

David Whitehouse, OEUK’s chief executive, said: “The windfall tax levied last year, now means UK offshore oil and gas operators are paying a total tax rate of 75%, -one of the highest rates in the world and over three times the rate of conventional UK businesses. This level of tax discourages investment and undermines our companies, our jobs and our communities.

“As our Business Outlook report will show, many offshore operators are already cutting North Sea investment because of those taxes. That means oil and gas production will fall, we’ll lose skilled workers – and imports will have to increase to make up for the lost production.“

It’s the small players that need support!

Can’t be a recalculation as Taconic‘s Short percentage remains the same from 1st December 2021 and their Short is double the size!
Well if the shares were closer to their £4.50 pence value (my opinion and several brokers) even a valuation of £3.50 means the share buybacks have saved us £840k. Keep up the good work and soon there will be no shares left in the market, ho, ho.

Massive amounts being bought but still in the doldrums. Hey ho. Next year maybe we’ll be millionaires :o)

Capital Fund Management increased by 0.10%.
I thought 400 pence shorting was brave….what do we know!

Well I’ve sold out of DT and bought my last tranche of a mere 4,000 shares Harbour Energy keeping some cash. Mainly because DT aren’t paying a dividend at the moment and HBR haven’t started their buyback yet which should help stabilise the SP….I hope!
Wait for the big rise when Chancellor eventually comes to his senses to prevent a collapse in North Sea investment.

TODAY

Warning of 'existential threat' to UK tech sector after failure of Silicon Valley Bank in the US.
This has to be sorted out to prevent IT companies collapsing but Darktrace would benefit if minor startup’s in the crypto security were to collapse….less competition!

Lending, you making comments confusing share buybacks with the share based payment. The share based payment of £27.4 million was a one-off tax charge due to IPO shares given to employees.

It has said it expects annual revenue to be substantially below forecasts, hence, plunged 45%.

SmartiePants will be even more upset on Monday when the shares are 305 pence.

“ However, the UK Energy Profits Levy, which applies irrespective of actual or realised commodity prices, has disproportionately impacted the UK-focused independent oil and gas companies that are critical for domestic energy security. For Harbour, the UK's largest oil and gas producer, it has all but wiped out our profit for the year. This has driven us to reduce our UK investment and staffing levels. Given the fiscal instability and outlook for investment in the country, it has also reinforced our strategic goal to grow and diversify internationally.“
Nice.

What a bunch of sanctimonious crackpot’s stating they were correct about DT but having already reduced their exposure in the run up to the results.

Well, I find it incredible that someone would give a prediction of a mere 300 pence top this year when just in a year DT has seen a low of (recently) 198 pence and high of (due to bid interest) 560 pence.
Personally don’t know what to expect the high will be (a guess 450 pence) but certainly believe the low (so long as market does not tank) was just behind DT.
AIMHO Good luck!

Boom for a ramp

Just goes to show the average PI doesn’t understand future earnings and potential of a company in a growing and highly profitable industry.
This is a buy all day long.

Makes you wonder why PAMEL went just to the reporting limit of 0.50%?
Maybe scare a few like AI into selling.
New cybersecurity offering brings hope to Darktrace shares!

https://www.shorttracker.co.uk/company/GB00BNYK8G86/

Quintessential Capital reduced from 1.30% to 0.38% and this is the Shorter that made various allegations before reducing its position. Um.
So, another Shorter takes a position just before the results. Um.
Either they have insider information or neither really have a clue and are simply gauging the likelihood for a scenario one way or another.
Cybersecurity is here to stay and whatever the results is a growth industry, time in the market is more important. Darktrace is debt free and making cash.
Sell if you need the cash for other “exciting” plays!