Member Info for BaysilHope

When they reduce and get on board - we will be truly away. Quote the Seekers & RIP Judith:-
Now the harbour light is calling
This will be our last goodbye
Though the carnival is over
I will support you 'til I die and get rid of SOL:----

HNY GLA

HBR SP got hammered last CPI print, this should be the last major data hurdle left before H1, ignoring weekly noise from the US, which will be overshadowed by European energy complex scrambling for anything, pre winter. GLA

They'll tax the Energy companies if anything, they will need NS O&G more than ever with Europe looking inwards this Winter. UK could be on its own! GLA

Russia's Transneft says Ukraine halted oil flows to Europe over payment issue
MOSCOW, Aug 9 (Reuters) - Ukraine has suspended Russian oil flows to southern Europe since Aug. 4 because Western sanctions meant it did not receive transit fees from Moscow, Russia's pipeline monopoly Transneft said on Tuesday.
Russia normally supplies about 250,000 barrels per day (bpd)via the southern leg of the Druzhba pipeline to Hungary, Slovakia and the Czech Republic.

I missed that - read NSS quote I dream whatever - bot on CMD - missed Q & A . The biggest asset Chryso acquired IS STUART WHEATON - what a man. FFS - Tory party need Stuart to sort out the energy crisis. What a cool guy, obvious a fecking genius

NSS I agree with it all - problem is SOL 8.5% - if these monkees want the Sp down with EIG frigging about - we are at the mercy of the tide.

When this ****e clears - HBR is in the Growth zone, ideal balance between critical mass production, debt smashing price of O&G, massive material resources mega gains under- pinning years of growth and Reserves and a hugely illegaxxxxxxly subdued SP for non trading reasons IMO DYOR.

Look I'm trying to find LC's hubbies model to see how well is holding is doing FFS. HNY - until H1 - this will be volatile for all the wrong reasons.

Two things I hate about inflation:-
1. It may force back Current Cost Accounting of the 1970's hyper inflation.
2. I failed my exams on Current cost accounting - accounting for inflation.

Nightmares or replacement cost - Jesus - stock profits on inflation taxed but not sold - FIFI - LIFO fecking ell man - burn Oil not gas and get a balance BBB - new HBR poster is an accountant and would know.
TMZ
SK has been pumping his bleeper louder & louder all day - calling to his shorting gamers to wade in tmz after the false rise today, a clear set up. Didn't buy it called midday waiting to get more cheap tmz. Cheers guys. HNY
IMO only 2 safe havens O&G and arms manufactures. Boom. gla

All yesterdays RNS is confirmation of the resolution by the court, any such Capital reorg needs court approval. Quote April circular . It is expected that the Capital Reduction, if approved by shareholders and confirmed by the Court, will create additional distributable reserves to the value of $6.3 billion.

Quote the press:- Come on Lizzy -
A campaign source added: “At the start of the campaign he portrayed himself as Mr Consistent, but what we’ve seen since is a shopping trolley desperately chasing votes. How can the British people trust that?”
On Wednesday night, Mr Javid issued a broadside against Mr Sunak, saying he risks economic growth by not promising speedy tax cuts, and backed Ms Truss.
The former chancellor and health secretary said the UK was “sleepwalking into a big-state, high-tax, low-growth, social democratic model”, in a critique of the man who succeeded him in the Treasury.
Mr Javid is the fourth former Tory leadership rival to endorse Ms Truss, the Foreign Secretary, in a week, following Tom Tugendhat, Nadhim Zahawi and Penny Mordaunt.

She now has the backing of five MPs who fought her for the leadership, the fifth being Suella Braverman. Mr Sunak has the support of three: Jeremy Hunt, Grant Shapps and Rehman Chishti.
On Wednesday, a ConservativeHome poll of Tory members put her 32 percentage points ahead of Mr Sunak in the leadership contest.
The survey of around 1,000 Tory members found 58 per cent will vote for Mr Sunak and 26 per cent for Ms Truss, with the rest not voting for either candidate or saying they were yet to decide.
The lead was almost identical to the results of a YouGov poll of Tory members published on Tuesday which put Ms Truss 34 percentage points ahead of Mr Sunak, the former chancellor.
In a separate development, Mr Hunt, who was England’s longest-serving health secretary, claimed that “Stalinist" targets are stifling the NHS and must be ditched.
Mr Hunt, who also ran in this summer's leadership contest, said medics and managers were being “stifled” by layers of bureaucracy which did not put patients first.
If Wt is cancelled must be plus £1 on the Sp in a minute. Boys have got 14 days trading to close short positions IMO HNy

WHAT'S NOT TO LIKE!!!!!!!!!!!!!!!!!!!br!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Great research kign, you are the BB Web telescope. Cheers. even is Repsol stutters - Timpan & Sangar are close 6 clusters with 12 TCF and 400m barrels of condensate +50' highly valuable liquids. GLA - If BP mentioned Timpan discovery it in its H1 results then that's a CLUE!!!!!

Just +100k for Sept 22 - really! Big oil's cash is going to shareholders or green, OPEC funds Non Oil investment. Its only HBR investing in major new discoveries. Where's our SP premium? (Slight exagg!)

HI LL, look I have a limited budget - if all the BB fills the gaps as a collective brill, I also have a limit to shell out, however need help - like Auson's assist with Euroclear - massive help, beyond my budget and knowledge. HHNY GLA

LL Hi Agree BP could help bring Andaman a year earlier at least with logistical muscle and flood the drilling, we need Sangar to confirm and then the other targets - 3 in each cluster, BP & Mud would have greater gravity at accessing rigs and logistics , so yes should be a win win if the well tests and remapped geology work.

I have to be fair to PMO old staff here, their Exploration expertise is second to none for a small player, I would not doubt Wahoo kicks in and second Andaman expo drill in Sangar. HBR have acquired a great team and the star SRH - Stuart Royston Wheaton is a fecking beast, not only for delivering Catcher but other discoveries. Exciting times I hope, unlike Neptune Energy - little growth, HBR could be huge, need to get the monkey off our back - Sellers.

Listen to SRH 2hrs in on CMD as he glides through the exploration and CV, I have a poster of him on the wall with the geo phys of Zama +900ft column of oil on a flat spot. No doubt about next drills all de-risked. GLA

LL - you have to remember - Andaman is 2026 first Gas/ oil and would need +$6-800m guess capex but a massive growth oppo for years - a company maker, until then it is cashflow -ve, Zama same 2024 first oil, we have depleting assets here in the intervening 2 years and we need to replenish reserves. So a mid camp M&A deal of the 30kbpd acquisition would do the trick IMO DYOR and mitigate any legacy WT liability. Supports production at 230-250kboepd next 2 years - sustaining the business model. I would argue that this is the most important next phase of the business plan IMO DYOR , there would need to be Gas + POO protection in the deal for falling prices.

It's all about managing production lead times to maintain a constant production level - while HBR transitions between fields and producing areas. GLA HNY

H1 results could shed light on M7A activity, in 2020 PMo were close to closing a $625m acquisition of BP assets in the N sea. POO fell to $10 and Shearwater was later sold in a separate deal. Quote:- 2020 news - close
BP Makes $625 Million Exit From North Sea Assets
The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
BP has agreed to sell several properties in the UK North Sea to Premier Oil for $625 million.
The assets set to change hands include the BP-operated Andrew area and its non-operating interest in the Shearwater field. The deal, expected to close later this year, is part of BP’s plan to divest $10 billion by the end of 2020.
“BP has been reshaping its portfolio in the North Sea to focus on core growth areas, including the Clair, Quad 204, and ETAP hubs,” said Ariel Flores, the North Sea regional president at BP. “We’re adding advantaged production to our hubs through the Alligin, Vorlich, and Seagull tieback projects.”
BP operates five fields in the Andrew area: Andrew (62.75%); Arundel (100%); Farragon (50%); Kinnoull (77%). Located about 140 miles northeast of Aberdeen, the Andrew asset also includes associated subsea infrastructure and the Andrew platform that all five fields produce through.
First oil was achieved in the Andrew area in 1996 and as of 2019 average production was between 25,000-30,000 BOE/D. BP said 69 employees will transfer to Premier Oil to operate the Andrew assets.

valuations would now be revised upwards - BP want to divest older N Sea assets, HBR are experts at squeezing value of them and decom exps are deductible from WT. HBR would have access to all PMO's BP due diligence and would have poured through BP's divestment plans. Fingers crossed for some action, HBR now has the cash fire power to enact a deal.

Auson, good spot, their output is not hedged but their capex would be more, so more or less the bar is set at the $250m each year for WT, of which approx £130-50m hit for 2022 or Tolmount output 2 months covers that. The depressed SP is not held down by WT - SOL and sellers, not long before this state of affairs does a 180. GLA and thx for the posts Auson- appreciate your insight and key data. BH

Thanks Auson, you are a gem- very kind of you indeed. SOL now heading the right way - thank God.

Less than $300m per year - quote

BP also began to quantify the effects of the UK’s new Energy Profits Levy (EPL), which increases the headline rate of tax from 40% to 65% on profits from its North Sea business as of 26 May 2022.
The introduction of the so-called windfall tax will result in a one-off non-cash deferred tax charge of an estimated $800m, BP said, reflecting the higher tax rate effective between 1 October 2022 and 31 December 2025.

With 2 months of Tolmount unhedged gas output, H1 sales ($1.5bn Q1) should equate to Full Year turnover for 2021 $3.47bn, with 6 mths fixed costs, dep'n and interest. Huge jump in Profits, minimal tax Wt (1 mth ish) depends on Capex.

H1 results should be brilliant leading to a spectacular H2. There is so many positives to update the market, hopefully most of the selling in the rear view mirror. GLA

Would anybody be kind enough to update the BB as to the July SOL position's changed please? Mega thx - the site is too complex for me. GLA